FOR RELEASE: December 30, 2024
VANCOUVER, British Columbia – Madoro Metals Corp. (“Madoro” or the “Company”) is pleased to announce that the Company has successfully executed on a judgement awarded by the Supreme Court of British Columbia regarding several Mexican properties that Madoro had optioned. As per the Company’s Press Release dated January 11, 2023, Madoro had filed a claim against the optionors for non-performance on agreements entered into, along with associated damages and costs. In a verdict dated December 18, 2023, the Supreme Court of British Columbia sided with Madoro on its claim and awarded the Company a judgement in the amount of approximately $1.85 million.
Following the rendering of the Court’s decision, Madoro engaged the services of local court and bailiff services authorities to execute on the judgement and has subsequently received approximately $1.70 million cash. In addition, 6,000,000 Madoro shares valued at $150,000 were returned to treasury, which together with $1.70 million cash received represents the full satisfaction of amounts awarded by the Courts.
About Madoro
Madoro Metals Corp. (MDM | TSX Venture Exchange; MSTXF | OTC) is an emerging resource company engaged in the evaluation, acquisition, and exploration of mineral properties in Mexico and Canada. Madoro owns a 100% interest in the Cerro Minas Property in Oaxaca, Mexico, a 50% interest in the Ralleau mineral property in the Urban Barry District, Lebel-sur-Quévillon area of Quebec, and an Option to acquire 100% interest in the First Green Lithium Property located in the emerging Cadillac-Pontiac lithium camp in the Abitibi Témiscamingue region, approximately 75 kilometres southwest of Val-d’Or, Québec. For further information, investors and shareholders are invited to visit the Company’s website at www.madorometals.com, call the office at 1-604-681-1568, toll free at 1-877-377-6222, or send an email to info@madorometals.com
ON BEHALF OF THE BOARD OF DIRECTORS
“BRIAN OSTROFF”
Brian Ostroff, Executive Chair & Director
bostroff@madorometals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts, and by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR+ at www.sedarplus.ca.