Drilling at Las Conchitas Extends Near Surface, High-Grade GOLD Mineralization, Highlighted BY Intercepts of 32.73 G/T GOLD over 3.1 Meters and 30.61 G/T GOLD over 3.4 Meters at the Bayacun Zone

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595 Burrard Street, Suite 2833

Vancouver, BC V7X 1K8

Tel: (604) 646-1580

www.makominingcorp.com

TSX-V: MKO | OTCQB: MAKOF

March 11, 2020

PRESS RELEASE - #20-3

TSX-V: MKO

DRILLING AT LAS CONCHITAS EXTENDS NEAR SURFACE, HIGH-GRADE GOLD

MINERALIZATION, HIGHLIGHTED BY INTERCEPTS OF 32.73 g/t GOLD OVER 3.1

METERS AND 30.61 g/t GOLD OVER 3.4 METERS AT THE BAYACUN ZONE

Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report positive drill results from the

Las Conchitas area of its wholly-owned San Albino-Murra property located in Nueva Segovia, Nicaragua. The Las

Conchitas area is located approximately 2.5 kilometers south of the fully permitted San Albino gold project currently

under construction.

The goal of the 2020 drill program at Las Conchitas is to focus on the most promising zones of near surface, shallow

dipping, high-grade gold mineralization in order to delineate a maiden resource . Since 2019, the Company has

completed 134 shallow drill holes totaling 10,644.20 meters (“m”) within the Las Conchitas area (see the attached

map).

The highest grade intervals reported in this press release come from drill holes LC20-165 and LC20-162. Both holes

are located in the Bayacun Zone, which was discovered by Mako in 2019 (see press release dated September 10,

2019), and is located towards the southern end of the Las Conchitas area, approximately 4 kilometers south of the

processing plant currently under construction at San Albino.

Hole LC20-165 intersected 32.73 g/t Au and 33.7 g/t Ag over 3.1 m approximately 56 m from surface (see attached

cross section). This hole was drilled to test a down -dip extension of high -grade gold mineralization intercepted in

hole LC19-104, which returned 42.79 g/t Au and 59.9 g/t Ag over 1. 7 m approximately 40 m from surface (see

attached cross section and press release dated September 10, 2019). Hole LC20 -162 intersected 30.61 g/t Au and

37.1 g/t Ag over 3.4 m approximately 63 m from surface.

Akiba Leisman, Chief Executive Officer of Mako states, “these results at the Bayacun Zone of Las Conchitas further

support our thesis that the San Albino deposit is part of a larger high -grade, near surface gold system on the

Company’s 150 square kilometer land package. Additionally, we have only begun to understand the geological

controls at Las Conchitas. As we continue drill ing, and as we gain invaluable information from mining the San

Albino deposit to the north, we expect to advance Las Conchitas to the point where it can become our second area of

mining over the next couple of years.”

Bayacun is an historic underground mine, which was last operated in the late 1800’s. While no production data is

available, the Company had previously sampled what appeared to be a historic stockpile near a tunnel in 2012 that

returned 34.90 g/t Au and 42.4 g/t Ag (see press release dated March 21, 2012). Direct shipping ore was sent to the

nearby, historic El Golfo mill for processing. The mill, along with the historic El Golfo mine, are located within

Mako’s El Jicaro concession, an area which the Company plans to drill after the San Albino gold project is

commissioned.

The Bayacun Zone appears to be analogous to San Albino in terms of continuity, geochemistry and predictability. It

is open for at least 50 m to the southwest until Candelaria creek, which is interpreted to be a fault with unknown

offset. The zone is also open down -dip and to the northeast. Importantly, recent down-dip drilling at the Bayacun

Zone has returned holes containing visible gold. Assays on these holes are expected back later this month.

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Furthermore, drill hole LC20-148 returned a mineralized interval of 20.94 g/t Au and 6.13 g/t Ag over 2.3 m, 73 m

from surface within the El Limon Zone. This hole was designed to test the down -dip extension of El Limon and

results have demonstrated that the high-grade gold mineralization is still open to the southwest.

Las Conchitas is an underexplored area along a gold-rich corridor with multiple historic underground workings. All

of the underground workings are caved-in and not accessible. Outcrops in the area are sparse to nonexistent, making

it challenging to resolve the structural complexities of the area and to determine the local controls on gold

mineralization. The Company is eager to expose the gold bearing veins at San Albino to gain a better understanding

of the gold emplacement and to apply this knowledge at Las Conchitas.

This press release contains results from 17 holes totaling 1,668.85 m drilled into five zones. There are 52 additional

drill holes still awaiting assay results.

Las Conchitas Assay Results Reported In This Press Release

Drill Hole From

(m)

To

(m)

Width

(m)*

Au

(g/t)

Ag

(g/t) Interval Average / Comments Zone

LC19-123 No significant results La Fortuna

LC19-124**

27.70 28.70 1.00 Void

SW

Extension of

Intermediate

Zone

28.70 30.60 1.90 1.32 3.4 1.32 g/t Au and 3.4 g/t Ag over 1.9m

41.40 42.50 1.10 Void

199.80 200.60 0.80 8.68*** 24.9 8.68 g/t Au and 24.9 g/t Ag over 0.8m

202.70 203.40 0.70 26.80*** 50.1 26.80 g/t Au and 50.1 g/t Ag over 0.7m

LC19-125 42.90 44.50 1.60 3.62 8.2 3.62 g/t Au and 8.2 g/t Ag over 1.6m

LC19-126 to 129 Results pending

LC19-130** 0.00 1.50 1.50 1.36 3.3 1.36 g/t Au and 3.3 g/t Ag over 1.5m

Mango Zone

LC19-131 2.50 3.50 1.00 5.44 13.2 5.44 g/t Au and 13.2 g/t Ag over 1.0m

LC19-132** 96.00 97.10 1.10 3.04*** 5.1 3.04 g/t Au and 5.1 g/t Ag over 1.1m

LC19-133 No significant results

LC19-134 Results pending

LC19-135** 62.10 63.50 1.40 62.30*** 70.3 62.3 g/t Au and 70.3 g/t Ag over 1.4m

LC19-136 Results pending

LC19-137 Results pending

LC19-138 42.15 43.15 1.00 14.50 11.2 14.5 g/t Au and 11.2 g/t Ag over 1.0m

LC19-139 Results pending****

LC19-140 68.00 68.75 0.75 2.35 5.5 2.35 g/t Au and 5.5 g/t Ag over 0.75m

71.70 72.60 0.90 9.67 33.9 9.67 g/t Au and 33.9 g/t Ag over 0.9m

LC19-141**

27.50 28.00 0.50 5.23*** 4.1 5.23 g/t Au and 4.1 g/t Ag over 0.5m

61.00 61.50 0.50 3.69*** 4.5 3.69 g/t Au and 4.5 g/t Ag over 0.5m

68.20 68.90 0.70 44.71*** 43.1 44.71 g/t Au and 43.1 g/t Ag over 0.7m

LC19-142 76.20 77.30 1.10 1.33*** 5.2 1.33 g/t Au and 5.2 g/t Ag over 1.1m****

El Limon

LC19-143 79.00 80.00 1.00 1.02*** 4.2 1.02 g/t Au and 4.2 g/t Ag over 1.0m****

LC19-144 to 145 Results pending

LC19-146 101.20 102.40 1.20 1.12 6.9 1.12 g/t Au and 6.9 g/t Ag over 1.2m

105.20 106.50 1.30 1.19 1.1 1.19 g/t Au and 1.1 g/t Ag over 1.3m

LC19-147 90.00 90.60 0.60 1.50*** 2.3 9.1 g/t Au and 13.6 g/t Ag over 2.1m 90.60 92.10 1.50 12.14*** 18.1

LC20-148 81.40 81.90 0.50 93.2 27.4 20.94 g/t Au and 6.13 g/t Ag over 2.3m 81.90 82.70 0.80 0.1 0.3

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82.70 83.70 1.00 1.49 <0.3

LC20-149 Results pending

LC20-150 89.50 90.50 1.00 7.71 9.8 7.71 g/t Au and 9.8 g/t Ag over 1.0m****

LC20-151 to 153 Results pending

LC20-154 24.50 25.10 0.60 18.20 7.4 18.2 g/t Au and 7.4 g/t Ag over 0.6m****

LC20-155 27.00 28.50 1.50 0.56 1.0 Results pending****

LC20-156 63.00 63.50 0.50 7.55 7.6 7.55 g/t Au and 7.6 g/t Ag over 0.5m****

LC20-157 to 159 Results pending

LC20-160

56.50 57.50 1.00 1.936 6.8

3.34 g/t Au and 4.7 g/t Ag over 3.5m****

Bayacun

57.50 58.50 1.00 0.595 2.9

58.50 60.00 1.50 6.095 4.6

LC20-161 Results pending****

LC20-162

42.00 43.50 1.50 1.10 0.7 1.1 g/t Au and 0.7 g/t Ag over 1.5m

69.70 70.70 1.00 1.11 2.2

30.61 g/t Au and 37.1 g/t Ag over 3.4m 70.70 71.70 1.00 62.50 88.0

71.70 72.40 0.70 41.70 24.1

72.40 73.10 0.70 16.10 27.3

LC20-163 Results pending

LC20-164 Results pending

LC20-165

60.80 61.30 0.50 13.90 79.7

32.73 g/t Au and 33.7 g/t Ag over 3.1m 61.30 62.60 1.30 29.90 30.0

62.60 63.90 1.30 42.80 19.8

LC20-166 to 196 Results pending****

The mineralized intervals shown above utilize a 1.0 g/t gold cut -off grade with not more than 1.0 meter of internal

dilution. *Lengths are reported as core lengths. True widths vary depending on drill hole dip, the veins are shallow

dipping and typical true widths are 80-100% of the downhole width. **Indicates previously released assay results.

***Indicates assays determined using the metallic screening method. ****Only a portion of the hole has been

received.

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Sampling, Assaying, QA/QC and Data Verification

Drill core was continuously sampled from inception to termination of the drill hole. Sample intervals were typically

one meter. Drill core diameter was HQ (6.35 centimeters). Geologic and geotechnical data was captured into a

digital database, core was photographed, then one-half split of the core was collected for analysis and one -half was

retained in the core library. Samples were kept in a secured logging and storage facility until such time that they

were delivered to the Managua facil ities of Bureau Veritas and pulps were sent to the Bureau Veritas laboratory in

Vancouver for analysis. Gold was analyzed by standard fire assay fusion, 30 gram aliquot, AAS finish . Samples

returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method. Due to the presence of

coarse gold, the Company has used 500-gram metallic screened gold assays for analyzing samples from mineralized

veins and samples immediately above and below drilled veins. This method, which analyzes a larger sample, can be

more precise in high-grade vein systems containing coarse gold. All reported drill results in this press release using

the metallic screening method are indicated. The Company follows industry stan dards in its QA&QC procedures.

Control samples consisting of duplicates, standards, and blanks were inserted into the sample stream at a ratio of 1

control sample per every 10 samples. A nalytical results of control samp les confirmed reliability of the assay data.

No top cut has been applied to the reported assay results.

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under National Instrument 43-101) has read

and approved the technical information contained in this press release. Mr. Kowalchuk is a senior geologist and a

consultant to the Company.

On behalf of the Board,

Akiba Leisman

Chief Executive Officer

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing

its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako’s primary objective is to bring San Albino

into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.

For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203-862-7059,

E-mail: [email protected] or visit our website at www.makominingcorp.com and SEDAR

www.sedar.com.

Forward-Looking Statem ents: Some of the statements contained herein may be considered “forward -looking information”

within the meaning of applicable securities laws. Forward -looking information is based on certain expectations and

assumptions, including that the results pending from the remaining 52 additional drill holes for which the Company is awaiting

results from the laboratory will support strike and dip continuity of gold mineralization; that the Company’s exploration

programs will be successfully completed; that a maiden resource at the Mango Zone may be delineated as a result of the

Company’s 2020 drilling; and that the Company will be successful in any financing plans necessary for drilling and construction

at the San Albino project. Such forward-looking information is subject to a variety of risks and uncertainties which could cause

actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation,

the risks that additional satisfactory explorati on results at the Mango zone will not be obtained; the risk that the Company’s

drilling at Las Conchitas in 2020 will not delineate a maiden resource at the Mango Zone; that exploration results will not

translate into the discovery of an economically viabl e deposit; risks and uncertainties relating to political risks involving the

Company’s exploration and development of mineral properties interests; the inherent uncertainty of cost estimates and the

potential for unexpected costs and expense; commodity pri ce fluctuations, the inability or failure to obtain adequate financing

on a timely basis and other risks and uncertainties. Such information contained herein represents management’s best judgment

as of the date hereof, based on information currently availa ble and is included for the purposes of providing investors with the

Company’s plans and expectations at its San Albino project and the Las Conchitas area, and may not be appropriate for other

purposes.

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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 release.