Mako Mining intersects 98.50 g/t gold over 1.9 metres at San Albino, Nicaragua

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Mako Mining Corp. [MKO-TSXV; MAKOF-OTCQX] reported additional high-grade drill results from an area located approximately 50 metres southwest of the current open-pit mining operations at the San Albino West (SW) pit in northern Nicaragua.

Recent drilling has focused on near surface, high grade gold mineralization in the SW Pit area within and proximal to the currently permitted pit limits. Results of drilling in this area are confirming multiple high-grade shallow zones. In 2022, a total of 16,472 metres in 126 drill holes have been completed in the SW Pit area.

Highlights of selected intercepts of the high-grade gold mineralization include 98.50 g/t gold and 66.3 g/t silver over 1.9 metres (Estimated True Width – ETW), including 168.30 g/t gold and 110.0 g/t silver over 1.1 metres; 52.66 g/t gold and 47.2 g/t silver over 2.0 metres (1.9m ETW), including 78.14 g/t gold and 69.6 g/t silver over 1.2 metres; 31.32 g/t gold and 76.1 g/t silver over 1.3 metres (1.1m ETW); and 24.35 g/t gold and 31.0 g/t silver over 2.1m (1.6m ETW).

Akiba Leisman, CEO of Mako stated: “The SW Pit is shaping up to be a shallow, high-grade zone within 50-100 metres of the mining operations at San Albino. Last year we were able to extend the mineralized zone underneath our mining contractor’s workshop, by hitting 42.9 g/t Au over 4.1 metres ETW 36 metres from surface, and now we have been able to extend this zone with multiple high-grade intercepts, over higher than average widths, along strike, and up and down dip. Currently, there exists a minimal resource at the SW Pit, which the Company is in the process of updating, and we aim to begin mining the SW Pit over the course of the next few months.”

Several holes were designed to test the continuity of mineralization along strike and dip of diamond drill hole SA22-615 (see attached drill plan) which intersected three shallow zones: an upper zone of 1.44 g/t Au and 30.7 g/t Ag over 0.50 metres at 30 metres below surface, a high-grade, main zone of 42.91 g/t Au and 38.3 g/t Ag over 4.50m (4.1m ETW) at 36 metres below surface, and a lower zone of 15.68 g/t Au and 7.4 g/t Ag over 1.90 metres (1.9m ETW) at 60 metres below surface.

Drill hole SA22-692 intersected an interval of high-grade, near surface gold mineralization of 98.50 g/t Au and 66.3 g/t Ag over 1.9 metres (ETW), 39m below surface. This corresponds to the main zone intersected in hole SA22-615 approximately 57 metres up-dip.

SA22-689 intersected 52.66 g/t Au and 47.2 g/t Ag over 2.0 metres (1.9m ETW), approximately 64 metres below surface and 3.55 g/t Au and 12.1 g/t Ag over 2.3 metres (1.5m ETW), at a vertical distance of 46 metres from surface. This hole intersected the lower zone approximately 14 metres downdip from SA22-615.

Diamond drill hole SA22-676 intersected 31.32 g/t Au and 76.1 g/t Ag over 1.3 metres (1.1m ETW), approximately 35 metres from surface, and diamond drill hole SA22-673 intersected 24.35 g/t Au and 31.0 g/t Ag over 2.1 metres (1.6m ETW), 22 metres from surface. Both holes were drilled to test the strike continuity of the upper mineralized zone encountered in hole SA22-615. Drill intersects are located 124 metres and 104 metres respectively along strike.

In addition, the company completed a reconnaissance drill program to test for mineralization across a major NW trending fault in an area of no previous drilling. Eight diamond drill holes were completed, three drill holes intersected mineralized intervals above an internal cutoff grade (1.0 g/t Au). The rest of the drill holes intersected areas disturbed by faulting and/or were intruded by late andesitic dykes at the projected depth. The Company intends to continue testing the projected extension further to the southwest.

Mako Mining operates the 100%-owned high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the highest-grade open pit gold mines globally. Mako’2qs primary objective is to operate San Albino profitably and fund exploration of prospective targets on its district-scale land package.

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