Madoro Metals Corp. closed a non-brokered private placement of 9,670,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 483,500 on September 26, 2022. Each unit consists of one common share and one half of common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.08 per share for a period of two years from the date of closing. The securities are subject to a four months and one day hold period. The transaction is subject to approval from TSX Venture Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.