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.

Total Shareholder Yield	-5.9%
Future Dividend Yield	n/a
Dividend Growth	n/a
Next dividend pay date	n/a
Ex dividend date	n/a
Dividend per share	n/a
Payout ratio	n/a

Segment	Dividend Yield
Company (MKO)	n/a
Market Bottom 25% (CA)	1.6%
Market Top 25% (CA)	5.4%
Industry Average (Metals and Mining)	1.3%
Analyst forecast (MKO) (up to 3 years)	n/a

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 13:38
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 Dividends and Buybacks

Dividend criteria checks 0/6

Key information

Recent dividend and buyback updates

Recent updates

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

Now 21% overvalued

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