Infill Drilling at San Albino Intersects 59.48 G/T GOLD over 2.1 Meters (Estimated True Width) Five Meters from Surface
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October 17, 2019
PRESS RELEASE - #19-17
TSX-V: MKO
INFILL DRILLING AT SAN ALBINO INTERSECTS 59.48 g/t GOLD OVER 2.1 METERS
(ESTIMATED TRUE WIDTH) FIVE METERS FROM SURFACE
Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report further positive results from
the infill drilling program at its wholly-owned San Albino gold project (“San Albino”) located in Nueva Segovia,
Nicaragua.
To date, 6,138 m of infill grade-control drilling has been completed in 146 diamond drill holes, with assays reported
for 19 of these holes in this press release. A breakdown of the results is as follows: 9 holes intersected the San Albino
Zone as projected; 3 holes encountered historic workings where the San Albino Zone was projected; 1 hole intersected
historic dump material in the shallow projections of the San Albino Zone; 2 holes intersected historic workings with
a portion of the San Albino vein preserved; and 4 holes did not intersect significant results where the San Albino
Zone was projected (these holes were testing an area outside of the currently modeled San Albino Zone and did not
have a detrimental impact on the model). The Company views the se results positively, as the geological model,
which was reinterpreted earlier this year, is continuing to yield highly predicable results.
One of the objectives of this round of drilling was to confirm a high-grade area where the Company plans to initiate
mining in early 2020. The highlight from drilling in this area was SA19-196, which intersected 59.48 g/t Au and
41.9 g/t Ag over 2.3 m (2.1 m estimated true width) five meters from surface. SA19-196 was drilled to confirm grade
in nearby reverse circulation hole SA16-RC-61, which intersected 38.38 g/t Au and 43.6 g/t Ag over 3.0 m (see press
release dated October 6, 2016).
Additionally, one drill rig continues to be solely focused on f inding the strike and dip extension of the near surface
and high-grade Porcelana-style mineralization encountered in ho les SA19-155 and SA19-207, which intersected
60.72 g/t Au and 66.4 g/t Ag over 6.5 m (3.1 m estimated true w idth) and 50.78 g/t Au and 13.0 g/t Ag over 5.3 m
(5.1 m estimated true width), respectively (see press releases dated September 4, 2019 and September 26, 2019).
Highlights from drilling of the Porcelana-style mineralization are holes SA19-214 and SA19-216. SA19-214
intersected 35.60 g/t Au and 33.2 g/t Ag over 2.5 m (2.1 m est imated true width) and was approximately 55 m
southwest and 105 m down dip from SA19-155 (see press release d ated September 4, 2019). SA19-216 intersected
23.86 g/t Au and 17.0 g/t Ag over 3.0 m (2.5 m estimated true width) and was approximately 65 m southwest and 70
m down dip of SA19-155. Importantly, this area of near surface high-grade is still open down dip and along strike.
Akiba Leisman, Chief Executive Officer of Mako states “the almo st two-ounce intercept, five meters from surface,
encountered in hole SA19-196 bodes well for the economics of ou r initial 500 tonne per day project. Furthermore,
the decision to dedicate one drill rig to finding the strike an d dip extension of the near surface and high-grade
Porcelana-style mineralization has proven to be the right call as evidenced by holes SA19-214 and SA19-216. Having
spent the last two days at site and inspecting drill core containing Porcelana-style mineralization from holes yet to be
released, I am confident that this area is continuous, open along strike and especially down dip, and for the most part,
untouched by historical mining.”
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2019 Infill Drilling Program Assay Results
Drill Hole
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
Zone /
Comments Interval Averages
True
Width
(m)**
SA19-195
0.0 1.0 1.0 0.00 3.3
Historic Dump* --- ---
1.0 2.5 1.5 0.25 0.9
2.5 4.0 1.5 0.13 0.5
4.0 5.0 1.0 7.36 10.5
5.0 6.1 1.1 0.33 2.9
SA19-196
5.4 5.9 0.5 72.60 42.9
San Albino Zone 59.48 g/t Au and 41.9
g/t Ag over 2.3 m 2.1 5.9 6.6 0.7 52.40 76.9
6.6 7.0 0.4 --- ---
7.0 7.7 0.7 93.60 29.1
SA19-197 19.7 22.7 3.0 --- --- Void --- ---
SA19-198 18.9 20.8 1.9 --- --- Void --- --- 20.8 21.1 0.3 7.43 14.9
SA19-199
31.8 34.2 1.4 --- --- Void --- ---
34.2 35.5 1.3 1.80 2.9 San Albino
Footwall Zone
1.80 g/t Au and 2.9
g/t Ag over 1.3 m 1.0
SA19-200 -- -- -- -- -- No significant
intersect --- ---
SA19-201 -- -- -- -- -- No significant
intersect --- ---
SA19-202 -- -- -- -- -- No significant
intersect --- ---
SA19-203 -- -- -- -- -- No significant
intersect --- ---
SA19-204
21.0 21.8 0.8 31.50 35.9
San Albino Zone 12.03 g/t Au and 16.2
g/t Ag over 4.8 m 4.2
21.8 22.4 0.6 41.90 44.6
22.4 23.0 0.6 1.46 5.3
23.0 23.7 0.7 5.39 16.1
23.7 24.8 1.1 0.72 2.3
24.8 25.8 1.0 1.96 5.3
SA19-206 17.5 25.5 8.0 --- --- Void --- ---
SA19-208 17.8 19.3 1.5 7.79 19.4 San Albino Zone 7.79 g/t Au and 19.4
g/t Ag over 1.5 m 1.4
SA19-211
46.6 50.6 4.0 --- --- Void --- ---
50.6 52.0 1.4 4.18 7.0 San Albino Zone
(Partial)
4.18 g/t Au and 7.0
g/t Ag over 1.4 m 1.3
52.0 54.1 2.1 --- --- Void --- ---
SA19-212
74.7 75.5 0.8 4.03 1.6
San Albino Zone 17.81 g/t Au and 18.1
g/t Ag over 4.1 m 2.6
75.5 76.5 1.0 25.70 18.2
76.5 77.1 0.6 12.60 26.5
77.1 78.1 1.0 27.10 26.1
78.1 78.8 0.7 13.50 17.9
SA19-213 35.0 36.7 1.7 6.12 9.0 San Albino Zone 11.41 g/t Au and 7.4
g/t Ag over 3.4 m 3.3 36.7 38.3 1.7 16.70 5.8
SA19-214 San Albino Zone 2.1
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55.5 56.9 1.4 53.90 46.8 35.60 g/t Au and 33.2
g/t Ag over 2.5 m 56.9 58.0 1.1 12.30 15.8
SA19-215 60.4 61.0 0.6 36.50 40.6 San Albino Zone 14.24 g/t Au and 15.5
g/t Ag over 1.6 m 1.5 61.0 62.0 1.0 0.89 0.4
SA19-216
35.2 36.2 1.0 30.80 12.2
San Albino Zone 23.86 g/t Au and 17.0
g/t Ag over 3.0 m 2.5 36.2 37.2 1.0 34.60 34.2
37.2 38.2 1.0 6.18 4.5
SA19-217
31.9 33.3 1.4 8.10 6.5
San Albino Zone 17.1 g/t Au and 13.5
g/t Ag over 4.1 m 3.5 33.3 34.0 0.7 23.90 19.5
34.0 34.7 0.7 57.10 43.5
34.7 36.0 1.3 1.60 1.7
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. * Historic Dump is interpreted to be "waste " material from the mining operations during the period 1870-
1920 and possibly during Spanish times. The grade and distribution of Dump material is erratic and unpredictable.
** True width is estimated from interpreted sections.
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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). Geo logic 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 l ogging 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 laboratory in
Vancouver for analysis. Gold was analyzed by standard fire ass ay fusion, 30gram aliquot, AAS finish. Samples
returning over 10.0 g/t gold are analyzed utilizing standard Fi re Assay-Gravimetric method. Due to the presence of
coarse gold, the Company has used 500-gram metallic screened gold assays for analyzing samples that yielded a fire
assay result greater than 1 g/t, 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 used the standard Fire Assay-Gravimetric met hod unless otherwise indicated as using the metallic
screening method. The Company follows industry standards in its QA&QC procedures. Control samples consisting
of duplicates, standards, and blanks were inserted into the sam ple 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 ge ologist 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
650mRL
597,200mE
597,200mE
591,513,600mN
1,513,600mN
600mRL
mN
400mRL 450mRL 500mRL 550mRL
550mRL 400mRL 450mRL 500mRL
600mRL 650mRL
Drawn by: Emir ZeledonDrawn by: Emir Zeledon
Projection: UTM WGS84, Zone 16N
San Albino - Murra Property
Nueva Segovia, Nicaragua
SCHEMATIC CROSS SECTION
WEST PIT AREA
San Albino - Murra Property
Nueva Segovia, Nicaragua
M A K O M I N I N G C O R P .
Projection: UTM WGS84, Zone 16N
M A K O M I N I N G C O R P .
Scale: 1 : 2,500
Author:Author:
Date : October 16, 2019
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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, Chie f Executive Officer, Telephone: 203-862-7059,
E-mail: [email protected] o r v i s i t o u r w e b s i t e a t www.makominingcorp.com a n d S E D A R
www.sedar.com.
Forward-Looking Statements: 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 Company’s exploration and in-fill drilling programs will be successfully completed; that any outstanding assay
results will be as anticipated; that the Porcelana-style mineralization discovered is anticipated to have a material impact on the
economics of the San Albino gold project; that the Company will be able to successfully adjust its mine plan based on anticipated
successful drilling results; 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 technical study supporting mineral reserves, and therefore not
based on demonstrated economic viability, management currently plans to initiate mining in early 2020; that the Company will
be successful in any proposed financing plans necessary for the construction at the San Albino project. and such other risk
factors as outlined in the continuous disclosure documents of the Company filed on SEDAR 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, includ ing, without limitation, the risks that additional satisfactory
exploration and drilling results at San Albino will not be obtained; that the PEA is preliminary in nature and there is no certainty
that the PEA will be 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 proper ties 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.