Drilling at the SW Zone at San Albino Intersects 62.04 g/t Gold Over 1.5 Meters (Estimated True Width) 15 Meters from Surface and Outside of the Delineated Resource
LEGAL*52586361.1
March 16, 2021
TSX-V: MKO; OTCQX: MAKOF
Drilling at the SW Zone at San Albino Intersects 62.04 g/t Gold Over 1.5 Meters
(Estimated True Width) 15 Meters from Surface and Outside of the Delineated Resource
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to report
positive drill results from expansion drilling at its Sa n Albino gold project (“San Albino”) in northern
Nicaragua.
The objective of this drill program was to target the SW Zone at San Albino, where very limited mineral
resources (approximately 0.4%) were estimated by Mine Development Associates (“MDA”), a division of
RESPEC, out of Reno, Nevada. A technical report fo r the updated mineral res ource estimate (the “MDA
Resource”) was filed in accordance with National Instrument 43-101, Standards of Disclosure for Mineral
Projects (“NI 43-101”) filed under the Company’s SEDAR profile at www.sedar.com and available on the
Company’s website at www.makominingcorp.com (see press release dated October 19, 2020).
Highlights
Intersected shallow high-grade mineralization outside of the MDA Resource
o 62.04 g/t Au and 28.55 g/t Ag over 2 meters (“ m”) (1.5 m estimated true width) interval
comprising quartz vein with visible gold in drill hole SA20-443 approximately 15 m from
surface
Potential for another near surface vein with a strike extent of at least 120 m
o 29.4 g/t Au and 28.0 g/t Ag over 0.70 m in trench SA20-TR2-51 approximately 2 m from
surface in a shallowly dipping quartz vein
Akiba Leisman, Chief Executive Officer of Mako st ates that, “when the MDA Resource was released, we
stated that San Albino was open along strike and down dip. As is the case with many areas of San Albino,
the SW Zone required additional drilling to better understand the ge ology before delineating a mineral
resource. These results confirm the existence of near surface high-grade gold, which we expect to convert
to mineral resources at San Albino as the drilling program advances. Importantly, exploration is continuing
at Las Conchitas to the south, where we also expect to find additional mineral resources.”
Specific comments on significant results reported in this press release are as follows:
SA20-443 intersected 62.04 g/t Au and 28.55 g/t Ag over 2 m (1.5 m estimated true width). SA20-443 was
drilled to test the strike projection of the quartz vein identified in previous trenching and drilling programs
(see attached drill plan and sections). The hole is located 26 m along strike to the southwest from discovery
hole AR11-12, which intersected 22.74 g/t Au over 8.0 m, including 9.67 g/t Au and 16.6 g/t Ag over 3 m
and 43.66 g/t Au and 130.6 g/t Ag over 3.5 m (see press release dated September 19, 2013).
Trench SA13-TR11-EXPPIT#1 located approximately 160 m along strike and to the southwest of SA20-
443 (see attached drill plan) exposed a vein with a true width of 1.8 m grading 13.94 g/t Au and 18.9 g/t
Ag, indicating additional strike potential which will be tested with drilling this year.
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Detailed mapping of the area has identified multi-stage deformation structures, with the latest deformation
event represented by NE-SW faulting. The current interpretation indicat es the faults may have displaced
the vein in a manner that has upthrown blocks across the faults bringing the mineralized zone closer to
surface than the previous down dip projections.
SA20-TR-51 encountered a high-grade vein with a vertical sample (estimated true width) grading 29.40 g/t
Au and 28.0 g/t Ag over 0.7 m and appears to indicat e the potential of another near surface vein with a
strike length of at least 120 m (see attached drill plan).
Overall geologic mapping, surface sampling and limited drilling has identified a prospective area at the SW
Zone measuring approximately 400 x 400 m, which is roughly the size of the current MDA Resource
footprint. A detailed understanding of the geometry and geology is critical to expanding mineralized zones
for future mineral resource additions. This area is co mplex, with localized faulting, and will require close
spaced drilling which the Company plans to conduct this year.
An aggressive drilling program is planned for the area with the objective of identifying additional resources
within the currently permitted pit limit. Approximately 7 kilometers of drill roads have been prepared for
the upcoming drilling program.
The SW Zone currently remains open at depth and al ong strike (see attached sections). Since 2020, the
Company has only drilled a total of 371.30 m in 9 drill holes. Several drill holes have encountered
mineralized intervals with visible gold. The Comp any anticipates receiving results in the coming weeks
from remaining drill holes and will be released in due course.
Assay Results Reported in This Press Release
Drill Hole From
(m)
To
(m)
Width
(m)*
Au
(g/t)
Ag
(g/t) Interval
True
Width
(m)**
SA20-441
6.00 7.50 1.50 0.15 0.7
Anomalous values 4.2 7.50 9.00 1.50 0.86 5.0
9.00 10.50 1.50 0.10 1.0
SA20-442 14.50 15.20 0.70 1.89 6.4 1.68 g/t Au and 4.72 g/t Ag over
1.85m 1.65
15.20 16.35 1.15 1.55 3.7
SA20-443
15.00 16.00 1.00 1.28 2.2 62.04 g/t Au and 28.55 g/t Ag over
2.00m 1.5 16.00 17.00 1.00 122.80 54.9
SA20-444
0.00 1.20 1.20 3.11 2.50 3.11 g/t Au and 2.5 g/t Ag over 1.2m 1.1
5.00 6.00 1.00 1.97 6.2 2.13 g/t Au and 7.2 g/t Ag over
2.10m 2.0 6.00 7.10 1.10 2.28 8.1
SA20-445 8.90 9.90 1.00 5.55 4.6 5.54 g/t Au and 4.6 g/t Ag over
1.00m 0.9
SA20-446
25.80 26.30 0.50 0.60 1.0 Anomalous values 1.0 26.30 27.05 0.75 0.40 1.6
30.50 32.00 1.50 0.15 0.6 Anomalous values 1.3
SA20-447-449 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. *Widths are reported as drill core lengt hs. ** True width is estimated from interpreted
sections.
300mRL 425mRL 350mRL 325mRL 375mRL 400mRL 450mRL 475mRL 500mRL 525mRL 550mRL 575mRL 600mRL
550mRL 525mRL 500mRL 450mRL 475mRL 375mRL 400mRL 425mRL 325mRL 350mRL
597,000mE1,513,400mN
625mRL
650mRL
650mRL
597,200mE
597,000mE 597,200mE1,513,400mN
300mRL 625mRL 575mRL 600mRL
SA13-TR-13
Scale: 1 : 2000
Date : March 12, 2021
SAN ALBINO - SW ZONE
SCHEMATIC CROSS SECTION
Autor: Gessner Grillo
San Albino - Murra Property
Nueva Segovia, Nicaragua
Projection: UTM WGS84, Zone 16N
Drawn by: Emir Zeledon
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Sampling, Assaying, QA/QC and Data Verification
Drill core was continuously sampled from inception to termination of the entire 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 photogra phed, then one-half split of the core was collected
for analysis and one-half was retained in the core li brary. Trench and surface channel samples followed a
similar procedure as drill core sampling. Continuous samples were collected using a diamond saw or rock
hammer and chisel. Care was taken to ensure a consis tent channel width of 6 cm wide and 5 cm depth.
Individual channel samples range from 0.4 meters to 1.0 meters in length. Both drill core and channel
samples were kept in a secured logging and storage f acility until such time that they were delivered to the
Managua facilities 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 st andard Fire Assay-Gravimetric method. The
Company follows industry standards in its QA&QC pr ocedures. 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 qualifie d 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, development and exploration company. The Company
is developing its high-grade Sa n Albino gold project in Nueva Segovia, Nicaragua. Mako’s primary
objective is to bring San Albino into production quickl y and efficiently, while continuing exploration of
prospective targets in Nicaragua.
For further information: Mako Mining Corp., Akib a 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 Statements: Statements contained herein, other than of historical fact, may be considered
“forward-looking information” within the meaning of ap plicable 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 outstanding assay results
will be as anticipated; the potential for additional ne ar surface veins; that the drilling program results confirming
the existence of near surface high-grade gold will be able to be convert to mineral resources at San Albino as the
drilling program advances; that the Company will find additional mineral resources at Las Conchitas; that the
Company’s aggressive drilling program will identifying additional resources within the currently permitted pit limit;
that the geological model will continue to yield highly predicable results; that although the Company’s production
decision at its San Albino project is not based on a tec hnical study supporting mineral reserves, and therefore not
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based on demonstrated economic viability, management expects economic viable production; that the Company will
be successful in completing its mine construction at the San Albino project. and such other risk factors as outlined in
the continuous disclosure documents of the Company file d on SEDAR at www.sedar.com. Such forward-looking
information is subject to a variety of risks and uncertainties which could caus e 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 drilling results at San Albino will not be obtained; the risk of economic and/or
technical failure at the San Albino project associated with not basing a production decision on demonstrated economic
and technical viability; that exploration results will not translate into the discovery of economically viable deposits;
risks and uncertainties relating to po litical risks involving the Company’s ex ploration and development of mineral
properties interests; the inherent uncertainty of cost es timates and the potential for unexpected costs and expense;
commodity price fluctuations, the inability or failure to obta in adequate financing on a timely basis and other risks
and uncertainties. Such information contained herein represen ts 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.