Maple GOLD Closes Oversubscribed $5 Million Private Placement
600-1111 West Hastings Street O: +1 (647) 266-8688
Vancouver, BC, V6E 2J3 E: [email protected]
Canada W: maplegoldmines.com
TSX.V : MGM
OTCQB : MGMLF
PRESS RELEASE
September 9, 2025
MAPLE GOLD CLOSES OVERSUBSCRIBED $5 MILLION PRIVATE PLACEMENT
Not for distribution to United States news wire services or for dissemination in the United States
Vancouver, BC – (Newsfile Corp. – September 9, 2025) – 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 release dated August 20, 2025, the Company has completed a non-brokered private
placement (the "Offering") raising aggregate gross proceeds of approximately C$5 million. Pursuant
to the Offering, the Company issued: (i) 4,117,647 charity flow-through units of the Company (each, a
"FT Unit") at a price of C$0.85 per FT Unit for gross proceeds of approximately C$3.5 million; and (ii)
2,500,000 non-flow-through units of the Company (each, a " NFT Unit") at a price of C$0.60 per NFT
Unit for gross proceeds of approximately C$1.5 million. The Offering was significantly oversubscribed.
As a result of his participation in the Offering, leading strategic investor Michael Gentile now holds
approximately 9.9% of the issued and outstanding common shares of the Company (each, a "Share")
on a partially-diluted basis and has joined the Company as a Strategic Advisor. In addition, pursuant to
an investor rights agreement between the Company and Agnico Eagle Mines Limited ("Agnico Eagle"),
Agnico Eagle has participated in the Offering to maintain its pro rata ownership interest in the Company
at approximately 16.3% on a partially-diluted basis.
“We are extremely pleased with the success of our financing and the strong support we received from
both new and existing shareholders,” stated Kiran Patankar, President and CEO of Maple Gold. “The
proceeds will allow us to aggressively drill our flagship Douay/Joutel gold project this fall, where we aim
to advance high-grade extensions in the Nika and 531 zones at Douay and initiate a maiden drill
program along the entire Eagle-Telbel mine trend at Joutel to support an updated mineral resource
estimate targeted for the first half of 2026. I would also like to welcome Michael Gentile as a cornerstone
shareholder and Strategic Advisor to the Company and extend our sincere thanks to Agnico Eagle for
their continued support.”
Maple Gold also announces that, further to its news releases dated August 20, 2025 and September
4, 2025, it has completed a Share consolidation on a ten (10) to one (1) basis (the "Consolidation").
The effective date of the Consolidation was September 8, 2025.
Offering Details
Each FT Unit consists of one S hare issued on a "flow -through basis" (each, a " FT Share") and one
Share purchase warrant issued on a non -flow-through basis (each, a " Warrant") and each NFT Unit
consists of one Share and one Warrant. Each Warrant entitles the holder to purchase, for a period of
36 months from the date of issue, one additional Share at an exercise price of C$0.85 per Share. The
expiry date of the Warrants is subject to acceleration such that, should the closing price of the Shares
on any Canadian stock exchange equal or exceed C$2.50 for 20 consecutive trading days, the
Company, within 15 business days of such event, shall be entitled to accelerate the expiry date of the
Warrants to a date that is 30 calendar days from the date that notice of such acceleration is given via
news release, with the new expiry date specified in such news release.
The gross proceeds from the sale of the FT Units will be used by the Company to incur "Canadian
exploration expenses" within the meaning of the Income Tax Act (Canada) and the Taxation Act
TSX.V : MGM 2
OTCQB : MGMLF
(Québec), on its properties in the province of Québec on or before December 31, 2026. The net
proceeds from the sale of the NFT Units will be used for working capital and general corporate
purposes.
The Offering remains subject to final acceptance by the TSX Venture Exchange ("TSXV"). All securities
issued under the Offering are subject to a hold period of four months and one day from the closing date
of the Offering, in accordance with the rules and policies of the TSXV and applicable Canadian
securities laws. Certain investors have enter ed into lock-up agreements for a 12- month hold period
from the closing date of the Offering.
In connection with the Offering: (a) certain officers and directors of the Company collectively acquired
77,268 NFT Units; and (b) Agnico Eagle acquired 586,619 NFT Unit s. The foregoing transactions
constitute, in each case, a "related party transaction" as defined under Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions ("MI 61 -101"). The Company was
exempt from the formal valuation and minority shareholder approval requirements of MI 61- 101 as
neither the fair market value of the securities acquired by the insiders, nor the consideration for the
securities paid by the insiders, exceeded 25% of the Company's market capitalization, in each case as
determined under MI 61-101. The Company did not file a material change report 21 days before closing
of the Offering because the Company wished to close the Offering as expeditiously as possible for
sound business reasons.
The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and
may not be offered or sold in the United States or to, or for the account or benefit of, United States
persons absent registration or any applicable exemption from the registration requirements of the U.S.
Securities Act of 1933 and applicable U.S. state securities laws. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
Qualified Person
Ian Cunningham-Dunlop, P .Eng. (PEO/EGBC/OGQ), Vice President, Technical Services of Maple Gold,
has reviewed and approved the scientific and technical information related to exploration and mineral
resource matters contained in this news release. Mr. Cunningham -Dunlop is a Qualified Person as
defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About the Douay/Joutel Gold Project
The Douay/Joutel Gold Project is located adjacent to Highway 109 in the heart of Québec’s Abitibi
greenstone belt, one of Canada's premier gold mining districts. This large, 100%-owned land package
includes the Company’s flagship Douay Gold Project , which hosts an established mineral resource 1
containing 511,000 ounces of gold (Indicated) and 2.53 million ounces of gold (Inferred), as well as the
past-producing, high- grade Joutel Mine Complex 2. Douay/Joutel contains ~481 km2 of highly
1 The Douay Project contains Indicated Mineral Resources estimated at 10 million tonnes at a grade of 1.59 g/t Au (containing
511,000 ounces of gold), and Inferred Mineral Resources estimated at 76.7 million tonnes at a grade of 1.02 g/t Au (containing
2,527,000 ounces of gold). See the technical report for the Douay Gold Project entitled “ Technical Report on the Douay and
Joutel Projects Northwestern Québec, Canada Report for NI 43-101” prepared by SLR Consulting (Canada) Ltd. with an
effective date of March 17, 2022, and dated April 29, 2022.
2 The Eagle, Eagle West and Telbel Gold Mines at Joutel were in production from 1974 to 1993 and produced 1.1 million
ounces of gold at an average grade of 6.5 g/t Au (Agnico Eagle’s corporate website)
TSX.V : MGM 3
OTCQB : MGMLF
prospective geology within the influence of the major gold- bearing Casa Berardi Deformation Zone.
Gold mines in the immediate region include the Casa Berardi Gold Mine operated by Hecla Mining
Company and the Detour Lake Gold Mine operated by Agnico Eagle.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing its 100%-
owned, district-scale Douay/Joutel Gold Project located in Québec 's prolific Abitibi Greenstone Gold
Belt. Douay/Joutel benefits from exceptional infrastructure access and boast s ~481 km2 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 VMS 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 heart of the Abitibi. For more information, please visit
www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
"Kiran Patankar"
Kiran Patankar, President & CEO
For Further Information, Please Contact:
Kiran Patankar, President & CEO
or
Deborah Honig, Adelaide Capital – [email protected]
Phone: 647-203-8793
Email: [email protected]
Website: www.maplegoldmines.com
LinkedIn: https://www.linkedin.com/company/maplegoldmines
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward Looking Statements and Cautionary Notes:
This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as
“forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada. Forward- looking
statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects ,”
“plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potentia l,” “goal,” “objective,”, “strategy”,
“prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” 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 Offering (including the tax treatment of the FT Shares and use of proceeds of the
Offering, the filing of the material change report in respect of the Offering and the participation of certain insiders in the
TSX.V : MGM 4
OTCQB : MGMLF
Offering), the planned fall drill program at Douay/Joutel, the updated mineral resource estimate planned for H1 2026, resource
expansion and discovery potential across the Company’s gold projects, and its intention to pursue such potential, and the
Company’s exploration work and results from current and future work programs. 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. For a more detailed discussion of additional risks and other factors that could cause
actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please
refer to the Company’s filings with Canadian securities regulators available on the System for Electronic Document Analysis
and Retrieval Plus (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.