Madoro Metals Corp. announced that it has entered into an option agreement (the "Agreement") to acquire a 100% interest in the 213 claim, 12,325 hectare First Green Lithium Project (the "Property") located in the rapidly emerging Cadillac-Pontiac lithium camp in the Abitibi Témiscamingue region, approximately 75 kilometres southwest of Val-d'Or, Québec. Companies already exploring for lithium-cesium-tantalum ("LCT") pegmatites in the Cadillac-Pontiac camp include Sayona Mining, Vision Lithium, Brunswick Exploration, Winsome Resources and High Tide Resources.

First Green lies west and north of the Tansim project held by Sayona Mining. Numerous pegmatite outcrops have been identified by historical government mapping but there is no record of previous mineral exploration on the Property or of any LCT analysis. A network of logging roads and the proximity to the mining centres of Malartic and Val-d'Or will allow for low-cost exploration work.

Madoro intends to complete a high-definition airborne magnetic and radiometric survey in conjunction with an interpretive study utilizing high-definition LiDAR data to identify prospective LCT pegmatite targets. Pursuant to the Agreement, the Company may acquire a 100% interest in the Property by making aggregate cash payments of $165,000 and issuing an aggregate of 5,400,000 common shares of the Company over a period of three years. In addition, the Company must incur an aggregate of $1,000,000 in exploration expenditures on or before the third anniversary date of the Agreement.

The arm's length vendors will retain a 2.0% net smelter royalty, 0.5% of which may be purchased by the Company for $1,000,000. Further, the Company has agreed to make milestone payments of $500,000 and $1,000,000 upon the filing of a feasibility study and upon the start of commercial production, respectively. The milestone payments may be paid in cash or through the issuance of shares, at the Company's discretion, and shall be deemed to be an advance to the vendors to be deducted against future royalty payments.

A finder's fee of $17,500 is payable to an arm's length party in connection with the Agreement. The Agreement remains subject to the approval of the TSX Venture Exchange.