Announcement • Aug 28

Mako Mining Corp. Provides Additional Exploration Results from the 2024 Reverse Circulation Drill Program in the Las Conchitas Area

Mako Mining Corp. provided additional exploration results from the 2024 reverse circulation (RC) drill program in the Las Conchitas area, located immediately south of the Company's San Albino gold mine, and additional results from an ongoing regional reconnaissance program within Mako's 188 square kilometres land package. The main objective of the RC drill program is to test for possible extensions of the high-grade mineralization trends beyond the limits of the Company's most recent mineral resource estimate (‘MRE’) at the San Albino Project. The results reported in Intermediate vein located within the Las Conchitas North (‘LC-N’) area, 2) El Limon vein and 3) Las Dolores vein, both situated in the southern portion of Las Conchitas LC-S. With the regional reconnaissance program, the Company is testing for new centres of high-grade mineralization, leveraging results of prior surface prospecting and locations of artisanal mining. The results are from channel and grab samples. Drilling Highlights: Intermediate Vein 82.55 grams per tonne (‘g/t’) gold (‘Au’) and 76.9 g/t silver (‘Ag’) over 2.0m - (2.0m Estimated True Width (‘ETW’)); 19.31 g/t Au and 43.4 g/t Ag over 4.0m - (3.6m ETW). Las Dolores Vein: 16.83 g/t Au and 26.4 g/t Ag over 6.0m - (4.7m ETW); 14.70 g/t Au and 21.8 g/t Ag over 3.0m - (3.0m ETW). El Limon Vein: 12.27 g/t Au and 7.1 g/t Ag over 3.0m - (3.0m ETW). Reconnaissance Highlights: El Golfo Area (located 3km south of San Albino): 62.20 g/t Au and 71.2 g/t Ag over 1.0m; 86.80 g/t Au and 111.0 g/t Ag over 1.0m; 21.65 g/t Au and 33.4 g/t Ag over 3.0m. Santa Rosa Area (located 5km east of San Albino): 358.60 g/t Au and 87.9 g/t Ag over 1.0m; 141.6 g/t Au and 13.1 g/t Ag over 0.4m. Las Conchitas North (Intermediate Vein): Drilling at the Intermediate zone, located within the LC-North area, is designed to test a previously identified high-grade mineralized zone outside the current MRE pit limits. LC24-RC520 intersected 82.55 g/t Au and 76.9 g/t Ag over 2.0m (2.0m ETW), 46.5m below surface. This drill hole confirms structural continuity of the vein and demonstrates strike extensions of the high-grade mineralization intersected previously in diamond drill hole INT18-19 (see press release dated November 28th, 2018) which intersected 16.65 g/t Au and 12.1 g/t Ag over 1.20 m, located 14m northeast along strike. Two drill holes LC24-RC513 and LC24-RC518 successfully tested the down dip extension of the same high-grade mineralization intersected by INT18-19, outside the current MRE. Drill hole LC24-RC513 intersected 19.31 g/t Au and 43.4 g/t Ag over 4.0m (3.6m ETW), 67m below surface and LC24-RC518 intersected 11.99 g/t Au and 17.0 g/t Ag over 3.0m (2.5m ETW), 60m below surface. These drill holes confirmed the down dip extension of the same mineralization for 60.2m and 31.0m, respectively. Las Conchitas South (Las Dolores Vein): The key objective of the 2024 drilling program at the Las Dolores area is to further test extensions of shallow, high-grade mineralized zones beyond the current MRE pit limits. Drill hole LC24-RC459 intersected 16.83 g/t Au and 26.4 g/t Ag over 6.0 m (4.7m ETW), 17.4m below surface and confirmed a 16m southwest strike extension of the mineralization intersected by LC24-RC458 of 30.85 g/t Au and 34.0 g/t Ag over 2.00m (1.8m ETW), 11.4m below surface (see press release dated July 29th, 2024). Both drill holes mentioned above intersected the high-grade mineralized zones and confirm additional mineralization outside the current MRE and between two relatively small pits. The potential for one larger pit will be evaluated. Drill hole LC24-RC521 intersected 14.70 g/t Au and 21.8 g/t Ag over 3.00m (3.0m ETW), 13.5m from surface and successfully confirmed a 13m down dip extension of the same high-grade mineralization intersected by drill hole LC24-RC458 mentioned above. Las Conchitas South: (El Limon Vein): Recent drilling at El Limon within the southern portion of Las Conchitas (‘LC-S’), together with prior results drilled since the effective date of the MRE, supports the potential to expand the high-grade gold mineralization outside of the pit limits defined by the current MRE. Drill hole LC24-RC481 intersected 12.27 g/t Au and 7.1 g/t Ag over 3.0m (3.0m ETW), approximately 60m from surface and confirmed a 33m strike extension to the east of the high-grade mineralization intersected by diamond drill hole LC22-478 of 65.45 g/t Au and 41.7 g/t Ag over 1.80m. Regional Reconnaissance Exploration Program: The ongoing reconnaissance exploration program covers the Company's entire 188 square kilometer land package and includes geological mapping and sampling of exposed mineralized veins, local mine dumps, and, where safely accessible, underground workings. The main objective of the reconnaissance exploration program is to collect key structural data of mineralized veins, extend previously exposed high-grade gold mineralization and prioritize drilling targets, such as El Golfo, Potrerillos and La Reforma and to identify additional gold targets for follow-up exploration and drilling. Reconnaissance results reported in this press release together with those previously released are part of an ongoing regional exploration program that will soon include drilling at these and other prospective targets across approximately 188 square kilometer land package. Results are reported for a total of 809 reconnaissance samples that were collected from underground workings, surface exposures and dumps, and they consist of both grab and channel samples. Of the 809 samples reported, 250 samples assayed over 1.0 g/t Au with 67 samples grading over 10 g/t Au. El Golfo Area: Historical mining and production within the area was centered primarily around the El Golfo Mine (covering approximately 2 square kilometers) in the early 1900's. Initial mapping and trench sampling by the Company confirmed the existence of high-grade gold mineralization that may be similar in both size and grade to that of the Las Conchitas and San Albino Gold Deposits, which are located approximately 1 kilometer and 3 kilometers, respectively, immediately to the north. The recent reconnaissance exploration program conducted by the Company suggests the existence of additional mineralized zones proximal to the historical mining area. These new mineralized zones have not yet been tested by trenching or drilling. Highlights of the reconnaissance sampling at the El Golfo area: El Golfo West 62.20 g/t Au and 71.2 g/t Ag over 1.0m; El Golfo South 44.40 g/t Au and 64.9 g/t Ag over 1.0m and 18.70 g/t Au and 41.8 g/t Ag over 3.0m; Tivo 86.80 g/t Au and 111.0 g/t Ag over 1.0m and 21.65 g/t Au and 33.4 g/t Ag over 3.0 m; Los Centenos 26.98 g/t Au and 32.7 g/t Ag over 2.5m and 37.80 g/t Au and 30.8 g/t Ag over 1.0m.

Announcement • Oct 25

Mako Mining Corp. Intersects 42.59 G/T Au over 2.1 M (Estimated True Width) At Las Conchitas North

Mako Mining Corp. reported additional results from its recent definition and expansion drilling program at the Las Conchitas area on its wholly-owned San Albino-Murra property. The Las Conchitas area is located immediately south of the San Albino Mine which is currently in commercial production. Seven diamond drill rigs are currently drilling on the property with five of the rigs dedicated to the Las Conchitas area, which is located between the San Albino Mine and the historical El Golfo Mine on the Company's El Jicaro Concession. Las Conchitas comprises an area of approximately 3.75 km2 and is subdivided into three primary areas: Las Conchitas North ("LC-N"), Las Conchitas Central ("LC-C") and Las Conchitas South ("LC-S"). Each of these areas host multiple subparallel, northeast-southwest striking, gently dipping gold bearing veins. In 2022, the Company has completed 208 drill holes to-date totaling 30,558 meters (m). The objective of the drilling at the Las Conchitas area is to test the strike and dip extension of the gold mineralization amenable to both open pit and underground mining methods, and to provide sufficient information for a mineral resource estimate currently being prepared by the Company. Las Conchitas – North. In 2022, an aggressive drilling campaign was implemented within the LC-N area, resulting in the new discoveries of the Mina Francisco and Crucita zones. Currently, three diamond drill rigs are operating at the LC-N area. Two rigs are testing the extension of the Mina Francisco structure, as well as testing the extensions of the San Pablo and Tirado gold bearing veins. The third rig is testing the continuity of the previously identified Intermediate zone and to test for additional high grade gold structures. To date, a total of 19,530 m in the 2022 drilling campaign have been completed in 131 drill holes at the LC-N area. The Company successfully tested the southwest extension of the MF structure with results from two drill holes. These holes were south of discovery hole LC22-515, which intersected an interval of 12.72 g/t Au and 8.6 g/t Ag over 1.70 m (1.5 m ETW). Drill hole LC22-558 intersected an interval 20.30 g/t Au and 55.8 g/t Ag over 2.00 m (1.9 m ETW), only 5 m from surface. Drill hole LC22-553, collared 116 m down dip from hole LC22-558, intersected 31.90 g/t Au and 20.1 g/t Ag over 0.60 m (ETW) at a vertical distance of 138.2 m, confirming the high-grade gold mineralization is open to the southwest (see drill plan) with significant down dip continuity. Several drill holes were designed to test within the recently discovered Mina Francisco area which now measures 265 m (by dip) and up to 229 m (by strike). Drill hole LC22-724 intersected three mineralized intervals, including an interval of 42.59 g/t Au and 31.3 g/t Ag over 2.10 m (ETW), at a vertical depth of 122 m. This drill hole confirmed a 179 m down dip extension of the high-grade mineralization intersected by hole LC22-524 of 51.80 g/t Au and 29.8 g/t Ag over 0.90 m (ETW). The other two intervals, situated above the MF zone, are interpreted as the San Pablo zone (SP). LC22-726 intersected two mineralized intervals. The upper interval of 18.70 g/t Au and 51.4 g/t Ag over 1.10 m (1.0 m ETW) at 151m from surface was interpreted as a splay of the MF zone. The lower interval of 26.66 g/t Au and 47.7 g/t Ag over 2.50 m (2.4 m ETW) was interpreted as the MF zone, 170.7 m from surface, representing a 44.5 m northeast strike extension from drill hole LC22-724, described above. Drilling in the Intermediate zone intersected 22.89 g/t Au and 7.2 g/t Ag over 1.40 m (1.3 m ETW), in hole LC22-911, at a vertical distance of 66.5 m. This drill hole extended the strike by 42 m to the west-southwest of the high-grade mineralization of 15.69 g/t Au and 15.5 g/t Ag over 2.50 m, intersected by INT13-01. Las Conchitas – Central; At LC-C, drill hole LC22-825 intersected 25.07 g/t Au and 31.0 g/t Ag over 2.20 m (ETW), at a vertical distance from surface of 19 m. This hole was designed to intersect the most northeasterly strike extension of the high-grade Cruz Grande mineralization, testing an area between Cruz Grande and the newly discovered Crucita vein at LC-N. This drill hole intersected 54 m from a collapsed historical tunnel, where vertical channel sampling of the vein graded up to 55.90 g/t Au and 170.0 g/t Ag over 0.9 m and 37.60 g/t Au and 209.0 g/t Ag over 0.7 m. The Company believes that additional drilling will confirm that the two high grade gold bearing structures, Cruz Grande and Crucita, previously interpreted as separate structures and located on opposite sides of a depression, are in fact the same vein (see longitudinal section). Confirmation of this continuity would significantly expand the strike length of this zone. Drill hole LC22-830 intersected an interval 27.30 g/t Au and 20.9 g/t Ag over 1.10 m (ETW), at vertical depth of 58.6 m. This interval confirmed a down dip continuity of the high-grade mineralization for a total of 144 m. Las Conchitas – South; LC-S is the most advanced area in terms of drilling, where 396 drill holes, totaling 36,290 m have been completed. This area is comprised of four mineralized zones; however, the recent drilling by the Company was designed to test the continuity of just the El Limon and Mango zones. The best results in the LC-S area were in drill hole LC22-478 which tested the southwest extension of the El Limon and Mango mineralized structures and intersected two intervals, 2.95 g/t Au and 1.9 g/t Ag over 0.80 m, 50.6 m below surface and 65.45 g/t Au and 41.7 g/t Ag over 1.80 m (1.7 m ETW), 80.1 m below surface which was interpreted as El Limon. Drill hole LC22-471, which was designed to test the down dip extension of both the El Limon and Mango zones. This hole intersected 14.50 g/t Au and 10.8 g/t Ag over 0.60 m (0.5 m ETW) at 57.6 m vertical depth, confirming a 98.3 m up dip extension of El Limon vein from drill hole LC22-467 which intersected 37.02 g/t Au and 54.4 g/t Ag over 2.0 m ETW. The second intercept of 7.55 g/t Au and 1.6 g/t Ag over 1.00 m (0.9 m ETW), 103.5m from the surface, was interpreted as the Mango zone. This intercept represents a 232 m down dip extension of the mineralization exposed in LC19-Tunnel-2, a historical working at surface. Vertical sampling of the vein at LC19-Tunnel-2 yielded 1.5m @ 25.92 Au and 42.0 Ag; 1.5m @ 21.71 Au and 49.1 Ag and 1.3m @ 54.17 Au and 57.5 Ag.

Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

Historical stock prices
Current Share Price	CA$10.62
52 Week High	CA$11.59
52 Week Low	CA$4.29
Beta	1.67
1 Month Change	18.66%
3 Month Change	6.73%
1 Year Change	122.64%
3 Year Change	398.59%
5 Year Change	190.96%
Change since IPO	172.31%

	MKO	CA Metals and Mining	CA Market
7D	6.2%	8.7%	1.0%
1Y	122.6%	94.1%	34.0%

MKO volatility
MKO Average Weekly Movement	7.6%
Metals and Mining Industry Average Movement	11.9%
Market Average Movement	10.3%
10% most volatile stocks in CA Market	17.8%
10% least volatile stocks in CA Market	4.0%

MKO fundamental statistics
Market cap	CA$945.70m
Earnings (TTM)	CA$46.07m
Revenue (TTM)	CA$202.72m

MKO income statement (TTM)
Revenue	US$148.47m
Cost of Revenue	US$65.47m
Gross Profit	US$83.00m
Other Expenses	US$49.26m
Earnings	US$33.74m

Earnings per share (EPS)	0.39
Gross Margin	55.90%
Net Profit Margin	22.72%
Debt/Equity Ratio	0%

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 21:25
End of Day Share Price	2026/05/07 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Michael Bandrowski	Beacon Securities Limited
Brian Szeto	Ventum Financial Corp

Mako Mining (MKO) Stock Overview

Rewards

Risk Analysis

An Undervalued 3.3Moz Gold Project in Canada

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Price History & Performance

Recent News & Updates

Mako Mining Corp. Announces Production Results for the San Albino Gold Mine in Northern Nicaragua and the Moss Mine in Arizona

Investor sentiment improves as stock rises 17%

Full year 2025 earnings released: EPS: US$0.41 (vs US$0.27 in FY 2024)

Investor sentiment deteriorates as stock falls 16%

Independent Non-Executive Chairman exercised options to buy CA$191k worth of stock.

CFO & Corporate Secretary recently sold CA$683k worth of stock

Recent updates

Mako Mining Corp. Announces Production Results for the San Albino Gold Mine in Northern Nicaragua and the Moss Mine in Arizona

Investor sentiment improves as stock rises 17%

Full year 2025 earnings released: EPS: US$0.41 (vs US$0.27 in FY 2024)

Investor sentiment deteriorates as stock falls 16%

Independent Non-Executive Chairman exercised options to buy CA$191k worth of stock.

CFO & Corporate Secretary recently sold CA$683k worth of stock

Mako Mining Corp. Reports Updated Mineral Resource Estimate for the Moss Mine in Arizona

Mako Mining Corp. (CVE:MKO) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected

Investor sentiment improves as stock rises 15%

Mako Mining Announces Receipt of Underground Mining Permit At Las Conchitas

Mako Mining's (CVE:MKO) Profits Appear To Have Quality Issues

Third quarter 2025 earnings released: EPS: US$0.015 (vs US$0.005 in 3Q 2024)

Mako Mining Corp. announced that it has received CAD 50 million in funding from Wexford Capital LP and other investors

Less than half of directors are independent

Mako Mining Corp. announced that it expects to receive CAD 50 million in funding from Wexford Capital LP

Investor sentiment improves as stock rises 17%

Does Mako Mining (CVE:MKO) Have A Healthy Balance Sheet?

Earnings Tell The Story For Mako Mining Corp. (CVE:MKO) As Its Stock Soars 30%

Second quarter 2025 earnings released: EPS: US$0.11 (vs US$0.14 in 2Q 2024)

Investor sentiment improves as stock rises 20%

Mako Mining Corp., Annual General Meeting, Sep 30, 2025

Independent Non-Executive Chairman recently bought CA$194k worth of stock

Mako Mining Corp. Announces Board Changes, Effective July 2, 2025

CEO & Director recently sold CA$1.4m worth of stock

First quarter 2025 earnings released: EPS: US$0.12 (vs US$0.081 in 1Q 2024)

Mako Mining Corp. Reports Initial Results from its 2025 Reverse Circulation Drill Program at the El Golfo Area Within the El Jicaro Concession

Mako Mining Intersects 39.15 g/t Au over 5.9 M (Estimated True Width) 19.2 m Below Surface in Its Inaugural Drill Campaign At El Golfo

Optimistic Investors Push Mako Mining Corp. (CVE:MKO) Shares Up 27% But Growth Is Lacking

CEO & Director recently sold CA$429k worth of stock

Mako Mining's (CVE:MKO) Earnings Are Weaker Than They Seem

Mako Mining Corp. Announces the Appointment of Steve Parsons as President

Full year 2024 earnings released: EPS: US$0.27 (vs US$0.10 in FY 2023)

Mako Mining Corp. (TSXV:MKO) completed the acquisition of EG Acquisition LLC from Wexford Capital LP.

Mako Mining Corp. Intersects 2.93 G/T Gold over 15.4 Metres (ETW) at Eagle Mountain and 3.73 G/T Au over 31.5 M at the Salbora Deposit as Part of a Geotechnical Drill Program

A Piece Of The Puzzle Missing From Mako Mining Corp.'s (CVE:MKO) 33% Share Price Climb

Investor sentiment improves as stock rises 16%

Price target increased by 13% to CA$5.65

Investor sentiment improves as stock rises 18%

Mako Mining (CVE:MKO) Has A Rock Solid Balance Sheet

Third quarter 2024 earnings released: EPS: US$0.005 (vs US$0.022 loss in 3Q 2023)

Now 22% overvalued

Mako Mining Corp Intersects 22.88 G/T Au over 4.6 M (Estimated True Width) at Las Conchitas

Now 20% overvalued

Mako Mining Corp. Provides Additional Exploration Results from the 2024 Reverse Circulation Drill Program in the Las Conchitas Area

Now 21% overvalued

Second quarter 2024 earnings released: EPS: US$0.14 (vs US$0.04 loss in 2Q 2023)

Mako Mining Intersects 23.84 g/t Au and 12.1 g/t Ag over 4.2m (Estimated True Width) and 36.88 g/t Au and 53.2 g/t Ag over 4.0m (ETW) at Las Conchitas

Now 22% undervalued after recent price drop

CEO & Director exercised options and sold CA$723k worth of stock

Chief Operating Officer recently sold CA$404k worth of stock

Mako Mining Corp., Annual General Meeting, Sep 30, 2024

New minor risk - Shareholder dilution

Mako Mining Corp. (TSXV:MKO) completed the acquisition of Goldsource Mines Inc. (TSXV:GXS).

First quarter 2024 earnings released: EPS: US$0.081 (vs US$0.021 in 1Q 2023)

Further Upside For Mako Mining Corp. (CVE:MKO) Shares Could Introduce Price Risks After 26% Bounce

Full year 2023 earnings released: EPS: US$0.10 (vs US$0.18 loss in FY 2022)

Mako Mining Corp. (TSXV:MKO) entered into an arrangement agreement to acquire Goldsource Mines Inc. (TSXV:GXS) for CAD 33.28 million.

Mako Mining Corp. (CVE:MKO) Stock Rockets 28% But Many Are Still Ignoring The Company

Mako Mining Corp. Provides an Update of Results from the Ongoing Reverse Circulation Drill Program At Las Conchitas

CEO & Director recently sold CA$638k worth of stock

New minor risk - Market cap size

Positive Sentiment Still Eludes Mako Mining Corp. (CVE:MKO) Following 28% Share Price Slump