Drilling at San Albino Intersects 21.61 G/T GOLD over 4.5 Meters (Estimated True Width) Outside of the 2015 PEA Pit Limits
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July 20, 2020
PRESS RELEASE - #20-15
TSX-V: MKO; OTCQX: MAKOF
DRILLING AT SAN ALBINO INTERSECTS 21.61 g/t GOLD OVER 4.5 METERS (ESTIMATED
TRUE WIDTH) OUTSIDE OF THE 2015 PEA PIT LIMITS
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to report positive
results from definition drilling around the West Pit area at its wholly owned San Albino gold project (“San Albino”)
located in Nueva Segovia, Nicaragua.
The objectives of the definition drilling at San Albino were to delineate the geometry of the mineral resources
amenable to open pit mining and to pr ovide sufficient information for a new mineral resource estimate currently
being prepared by Mine Development Associates (“MDA”), a division of RESPEC Company LLC.
A total of four holes disclosed in this press release (SA20-503, SA20-506, SA20-490 and SA20-498) had significant
intercepts outside of the previously de fined pit limits that supply the mill feed for open pit mining disclosed in the
Company’s Preliminary Economic Assessment for the San Albino Gold Deposit dated April 29, 2015 (the “PEA”),
which is available on the Mako’s website and SEDAR profile at www.sedar.com (see attached map and cross section).
The highlight of this press release is drill hole SA20-503, which intersected 21.61 g/t Au and 41.9 g/t Ag over 5.0
meters (“m”) (4.5 m estimated true width) approximately 64 m below surface and approximately 4 m below the West
Pit limit disclosed in the PEA.
SA20-506 intersected 5.37 g/t Au and 20.3 g/t Ag over 4. 3 m (2.74 m true width) 85 m below surface and 34.4 m
below the West Pit limit in the PEA.
SA20-490 and SA20-498 were designed to t est an extension of the San Albino Zone to the southwest. SA20-490
intersected 20.40 g/t Au and 49.3 g/t Ag over 1.25 m (1.03 m estimated true width) 28.4 m from surface and
approximately 100 m southwest of the West Pit limit disclosed in the PEA.
SA20-498 intersected 9.79 g/t Au and 31.3 g/t Ag over 3.3 m (1.84 m estimated true width) 42 m below surface and
approximately 80 m southwest of the West Pit limit disclosed in the PEA.
Also noteworthy were holes SA20-457, SA20-504, SA20-507 and SA20-509, which provide evidence of continuity
of an upthrown block across a fault that brings the San Al bino Zone 20 m closer to surface than the previous down
dip projections (see attached map and cross section). Th e highlight was SA20-457, which intersected 27.70 g/t Au
and 26.2 g/t Ag over 3.1 m (1.98 m estimated true width) 32 m below surface.
Akiba Leisman, Chief Executive Officer of Mako states, “although the assays from th ese holes came back after the
original cutoff date for preparing the updated mineral resource estimate, the Company and MDA concluded that they
are significant and should be included in the updated mine ral resources estimate. Importantly, the updated resource
estimate is still on track to be delivered this quarter.”
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Assay Results Reported In This Press Release
Drill Hole From
(m)
To
(m)
Width
(m) *
Au
(g/t)
Ag
(g/t) Interval Averages True Width
(m) **
SA19-371 to 373 No significant results;
targeting Naranjo Zone
SA20-453 20.70 25.50 4.80 Void
SA20-457
46.80 47.80 1.00 1.41 10.6
27.70 g/t Au and 26.2 g/t Ag over 3.1 m 1.98 47.80 48.85 1.05 7.20 12.9
48.85 49.90 1.05 73.30 54.3
SA20-465 No significant results
SA20-490 28.4 29.65 1.25 20.40 49.3 20.40 g/t Au and 49.3 g/t Ag over 1.25 m 1.03
SA20-498
54.50 55.80 1.30 8.88 27.4
9.79 g/t Au and 31.3 g/t Ag over 3.3 m 1.84 55.80 56.80 1.00 16.10 47.1
56.80 57.80 1.00 4.68 20.5
SA20-502***
48.20 48.85 0.65 6.96 10.5
4.69 g/t Au and 7.3 g/t Ag over 2.8 m 1.80
48.85 49.65 0.80 0.16 0.7
49.65 50.50 0.85 5.04 9.8
50.50 51.00 0.50 8.39 9.5
SA20-503***
57.90 58.80 0.90 10.50 93.0
21.61 g/t Au and 41.9 g/t Ag over 5.0 m 4.50
58.80 59.95 1.15 0.04 0.5
59.95 61.05 1.10 73.30 88.0
61.05 62.05 1.00 16.70 27.0
62.05 62.90 0.85 1.46 1.4
SA20-504
44.10 44.80 0.70 2.43 4.5 2.43 g/t Au and 4.5 g/t Ag over 0.7 m 0.61
46.10 46.60 0.50 7.28 29.0 7.28 g/t Au and 29.0 g/t Ag over 0.5 m 0.45
SA20-506
75.40 76.40 1.00 15.90 64.9
5.37 g/t Au and 20.3 g/t Ag over 4.3m 2.74
76.40 77.50 1.10 5.32 17.4
77.50 78.70 1.20 0.25 1.4
78.70 79.70 1.00 1.04 1.5
SA20-507
30.60 31.60 1.00 16.70 29.9
18.16 g/t Au and 25.6 g/t Ag over 2.2 m 1.91 31.60 32.25 0.65 19.70 13.0
32.25 32.80 0.55 19.00 32.7
SA20-509 31.20 32.20 1.00 6.34 9.9 6.34 g/t Au and 9.9 g/t Ag over 1.0 m 0.90
The mineralized intervals shown above utilize a 1.0 g/t gold cu t-off grade with not more than 1.0 meter of internal
dilution. *Widths are reported as drill core lengths. ** True width is estimated from interpreted sections. *** Holes
SA20-502 and SA20-503 include up to 1.2 m of internal dilution.
Sampling, Assaying, QA/QC and Data Verification
Drill core was continuously sampled fr om inception to termination of the ma pped mineralized interval. 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 facilities of Bureau Veritas and pulps were sent to the Bureau Veritas
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laboratory in Vancouver for analysis. Gold was analyzed by standard fire assay fusion, 30gram aliquot, AAS finish.
Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method. The Company
follows industry standards 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. Analytical results of control
samples confirmed reliability of the assay data.
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 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
CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, de velopment and exploration company. 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 Leis man, 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 Statements: Statements contained herein, other than of historical fact, may be considered “forward-looking
information” within the meaning of applicable securities laws. Forward-looking information is based on certain expectations
and assumptions, including the Company’s expectation that it will bring the San Albino into production quickly and efficiently,
while continuing exploration of prospectus targets in Nicaragua; that the Company’s exploration and in-fill drilling programs
will be successfully completed; that any ou tstanding assay results will be as anticip ated; that there is continuity of gold
mineralization outside of the originally defined pit limits fo r San Albino; that the objectives of the definition drilling at S an
Albino, to delineate the geometry of the mineral resources amenable to open pit mining and to provide sufficient information for
a new mineral resource estimate, will be achieved; that the Company will be able to su ccessfully adjust its mine plan based on
anticipated successful drilling results; that the geological model will continue to yield highly predicable results; that altho ugh
the Company’s production decision at its San Albino project is not based on a technical study supporting mineral reserves, and
therefore not based on demonstrated economic viability, manageme nt expects economic viable production; that the Company
will be successful in completing its mine construction at the S an Albino project. and such other risk factors as outlined in th e
continuous disclosure documents of the Company filed on SED AR at www.sedar.com. 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 exploration and drill ing
results at San Albino will not be obtained; that the PEA is preliminary in nature and there is no certainty that the PEA will b e
realized; the risk of economic and/or technical failure at the San Albino project associated with basing a production decision on
the PEA without demonstrated economic and technical viability; that exploration results will not translate into the discovery of
an economically viable 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 price 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 available and is included for the purposes of providing investors with the Company’s plans and
expectations at its San Albino project and may not be appropriate for other purposes. Mako does not undertake to update any
forward-looking information, except in accordance with applicable securities laws.
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.
600mRL 625mRL
650mRL
597,000mE
597,000mE
525mRL 550mRL 575mRL 600mRL 625mRL
650mRL 575mRL 525mRL 550mRL
1,513,800mN
475mRL 500mRL
500mRL
597,200mE
597,200mE 1,513,600mN
475mRL 450mRL
1,513,600mN
425
RL 450mRL
Projection: UTM WGS84, Zone 16N
Drawn by: Emir Zeledon
San Albino - Murra Property
Nueva Segovia, Nicaragua
Scale: 1 : 1,500
SCHEMATIC CROSS SECTION
SAN ALBINO WEST PIT
Autor: Gessner Grillo Date :July 15, 2020
2015 PEA West pit profile
Void Intercept
LEGEND
Drill hole name and intercept
announced in this press release
Drill hole name and intercept
Previously announced
Interpreted quartz vein
Projected quartz vein
Drill hole
Fault
SA20-502
2.8 m @ 4.69 g/t Au and 7.3 g/t Ag
SA20-506
4.3 m @ 5.37 g/t Au and 20.3 g/t Ag
SA20-503
5.0 m @ 21.61 g/t Au and 41.9 g/t Ag
SA20-504
0.7 m @ 2.43 g/t Au and 4.5 g/t Ag
SA20-507
2.2 m @ 18.16 g/t Au and 25.6 g/t Ag
SA20-509
1.0 m @ 6.34 g/t Au and 9.9 g/t Ag
SA20-457
3.1 m @ 27.70 g/t Au and 26.2 g/t Ag
SA16-MET-04
3.25 m @ 11.37 g/t Au and 5.7 g/t Ag
SA19-214
2.5 m @ 35.60 g/t Au and 33.2 g/t Ag
SA19-215
1.6 m @ 14.24 g/t Au and 15.5 g/t Ag
SA19-216
3.0 m @ 23.86 g/t Au and 17.0 g/t Ag
SA19-217
4.1 m @ 17.1 g/t Au and 13.5 g/t Ag
SA19-218
1.0 m @ 5.15 g/t Au and 4.0 g/t Ag
SA19-219
1.0 m @ 3.60 g/t Au and 5.1 g/t Ag
SA19-220
1.3 m @ 46.41 g/t Au and 35.9 g/t Ag
SA16-MET-05
1.0 m @ 2.10 g/t Au and 3.7 g/t Ag
SA16-MET-09
4.4 m @ 10.27 g/t Au and6.38 g/t Ag
SA16-MET-11
0.8 m @ 25.50 g/t Au and 17.9 g/t Ag
SA16-MET-17
0.45 m @ 1.4 g/t Au and 1.4 g/t Ag
SA12-46
3.6 m @ 31.53 g/t Au and 24.4 g/t Ag
SA10-06
3.1 m @ 21.50 g/t Au and 21.4 g/t Ag
SA10-07
2.2 m @ 4.56 g/t Au and 7.8 g/t Ag
SA13-133
1.15 m @ 19.21 g/t Au and 71.9 g/t Ag
SA12-45
0.59 m @ 14.54 g/t Au and 58.8 g/t Ag
SA20-472
1.15 m @ 24.60 g/t Au and 10.0 g/t Ag
1.0 m @ 17.05 g/t Au and 11.7 g/t Ag
0.5 m @ 7.28 g/t Au and 29.0 g/t Ag