Maple GOLD Completes Joint Venture Restructuring Transaction
600 -1111 West Hastings Street O: +1 (647) 266 -8688
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Canada W: maplegoldmines.com
TSX.V : MGM
OTCQB : MGMLF
PRESS RELEASE
DECEMBER 20, 2024
MAPLE GOLD COMPLETES JOINT VENTURE RESTRUCTURING TRANSACTION
Vancouver, BC – (Newsfile Corp. – December 20, 2024 ) – Maple Gold Mines Ltd. (TSX-V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold " or the "Company ") is pleased to announce that, further
to its news releases of June 20, 2024 and September 10, 2024, the Company has completed its
previously announced joint venture restructuring tr ansaction (the " Restructuring Transaction ")
through which it has obtained legal title to, and a 100% ownership interest in, the multi-million-ounce 1
Douay Gold Project ("Douay ") and past-producing, high-grade Joutel Gold Project ("Joutel ") (together,
the "Projects ") located along the Casa Berardi-Douay Gold Trend in Québec, Canada.
“We are thrilled to have completed this transformati ve and value-unlocking transaction, which
consolidates 100% ownership of Douay/Joutel into Maple Gold and paves the way for the continued
advancement of the Projects,” stated Kiran Patankar, President and CEO of Maple Gold. “With a
healthy treasury of over $8 million and a clear, fu lly funded organic growth strategy focused on
aggressive resource expansion, project de-risking, and potential to make new discoveries across our
Québec project portfolio, the Company is well-positioned to drive shareholder value in the coming year.”
Key Terms of Restructuring Transaction
The Restructuring Transaction was implemented in ac cordance with the terms of the definitive
conveyance and option agreement dated June 20, 2024 (the "Agreement ") among the Company, its
wholly owned subsidiary, MGM Douay Gold Project Ltd., and with Agnico Eagle Mines Limited ("Agnico
Eagle "). On closing of the Restructuring Transaction, among other things:
The joint venture agreement dated February 2, 2021 between the Company and Agnico
Eagle, which previously governed the joint venture (the "JV ") among the parties with respect
to the Projects, was terminated.
Agnico Eagle transferred to Maple Gold legal title to the properties and assets of the JV (the
"JV Assets "). Following such transfer, Maple Gold holds 100% legal title to the Projects and
associated assets.
Maple Gold granted a 1.0% net smelter return royal ty in respect of the JV Assets to Agnico
Eagle.
Maple Gold granted to Agnico Eagle (i) an option ( the "Construction Option ") to acquire a
50% ownership interest in all of Maple Gold’s right, title and interest in the JV Assets until the
date that is 90 days following receipt by Agnico Eagle of a "Construction Decision Notice" (as
defined in the Agreement), and (ii) an option (the " Restart Option ") to acquire a 50%
ownership interest in all of Maple Gold’s right, ti tle and interest in the JV Assets at any time
following the occurrence of a "Construction Suspension Event" (as defined in the Agreement),
if the Construction Option has not been exercised, until the date that is 90 days following
1 The Douay Project contains Indicated Mineral Resour ces estimated at 10 million tonnes at a grade of 1. 59 g/t Au, and
Inferred Mineral Resources estimated at 76.7 millio n tonnes at a grade of 1.02/t Au. See the technical report for the Douay
Gold Project entitled “Technical Report on the Doua y and Joutel Projects Northwestern Québec, Canada R eport for NI 43-
101” prepared by SLR Consulting (Canada) Ltd. with an effective date of March 17, 2022 and dated April 29, 2022.
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OTCQB : MGMLF
receipt by Agnico Eagle of "Restart Notice" (as def ined in the Agreement). The terms of the
Construction Option and the Restart Option are described in greater detail in the Company’s
news release of June 20, 2024.
Advisors
Fort Capital Partners acted as advisor to Maple Gold with respect to the Restructuring Transaction and
the Company’s capital markets strategy. Cassels Brock & Blackwell LLP acted as legal advisor to Maple
Gold with respect to the Restructuring Transaction.
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Ian
Cunningham-Dunlop, P.Eng., Vice President, Technica l Services of Maple Gold. Mr. Cunningham-
Dunlop is a Qualified Person under National Instrum ent 43-101 – Standards of Disclosure for Mineral
Projects .
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing the district-
scale Douay and Joutel gold projects located in Qué bec's prolific Abitibi Greenstone Gold Belt. The
Projects benefit from exceptional infrastructure ac cess and boast ~400 km 2 of highly prospective
ground including an established gold mineral resource at Douay with significant expansion potential as
well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an
exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining
complex.
Maple Gold’s property package also hosts a significant number of regional exploration targets along a
55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling,
making the property ripe for new gold and polymetallic discoveries. The Company is currently focused
on carrying out exploration and drill programs to grow mineral resources and make new discoveries to
establish an exciting new gold district in the hear t of the Abitibi. For more information, please visi t
www.maplegoldmines.com .
ON BEHALF OF MAPLE GOLD MINES LTD.
“Kiran Patankar”
Kiran Patankar, President & CEO
For Further Information Please Contact:
Mr. Kiran Patankar
President & CEO
Tel: 604.639.2536
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VEN TURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
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Forward Looking Statements and Cautionary Notes:
This news release contains “forward-looking informa tion” and “forward-looking statements” (collectivel y referred to as
“forward-looking statements”) within the meaning of applicable Canadian securities legislation in Cana da. Forward-looking
statements are statements that are not historical f acts; they are generally, but not always, identifie d by the words “expects,”
“plans,” “anticipates,” “believes,” “intends,” “est imates,” “projects,” “aims,” “potential,” “goal,” “ objective,”, “strategy”,
“prospective,” and similar expressions, or that eve nts or conditions “will,” “would,” “may,” “can,” “c ould” or “should” occur, or
are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include,
but are not limited to, statements about the Compan y’s expectations with respect to the benefits of th e Restructuring
Transaction and the future business prospects of th e Company resulting therefrom. Although the Company believes that
forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to
be correct, as forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future
events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or
results could differ materially from the Company’s expectations and projections, and readers are cautioned not to place undue
reliance on forward-looking statements. Factors tha t could cause future results to differ materially f rom those anticipated in
forward-looking statements in this news release inc lude, but are not limited to, the risk that the Com pany may not be able to
implement its business strategy as anticipated, or at all, such that the Company may not realize some or all of the benefits
anticipated from the completion of the Restructuring Transaction. For a more detailed discussion of additional risks and other
factors that could cause actual results to differ m aterially from those expressed or implied by forwar d-looking statements in
this news release, please refer to the Company’s fi lings with Canadian securities regulators available on the System for
Electronic Document Analysis and Retrieval + (SEDAR +) at www.sedarplus.ca or the Company’s website at
www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSX Venture
Exchange, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-
looking statements whether as a result of new information, future events or otherwise.