Mako Mining Announces Closing of $4.5 Million Non-Brokered Private Placement Financing

Mako Mining Announces Closing of $4.5

Million Non-Brokered Private Placement

Financing

TSX- V: MKO

TORONTO

,

March 8, 2019

/CNW/ - Mako Mining Corp. (TSX-V:MKO) ("

Mako

" or the "

Company

")

is pleased to announce that, further to the Company's news release dated

February 22, 2019

, it has

closed its previously announced non

brokered private placement issuing 30,000,000 common shares

of the Company at a price of

CAD$0.15

per share for gross proceeds of

CAD$4,500,000

(the

"

Offering

").

Wexford Capital LP, through funds managed by Wexford Capital LP (collectively, "

Wexford

"), which

is an insider of the Company, subscribed for a total of 21,955,000 shares under the Offering.

Wexford now beneficially owns, or exercises control or direction over, 127,369,678 shares of the

Company, representing approximately 40.64% of the issued and outstanding shares of the Company

upon completion of the Offering. In addition,

Rael Lipson

, a director of the Company, subscribed for

45,000 shares under the Offering.

The proposed principal uses of proceeds of the Offering are to fund ongoing exploration programs

(including diamond drilling) at Las Conchitas in

Nicaragua

(~ 45%), ongoing detailed Engineering for

the San Albino gold project in

Nicaragua

~ 25%), first phase exploration at

La Trinidad

in

Mexico

(~

10%) and for working capital and general corporate purposes (~ 20%).

The TSX Venture Exchange (the "

TSXV

") has granted conditional approval of the listing of the

shares issued under the Offering. Final TSXV approval of the Offering is subject to compliance with

the customary requirements of the TSXV. The shares issued under the Offering are subject to resale

restrictions pursuant to a "distribution compliance period" (as defined in Regulation S under the

United States Securities Act of 1933, as amended) of one year from the date the shares were

issued. The shares are also subject to a statutory hold period of four months plus a day from the

date of issuance in accordance with applicable Canadian securities legislation and TSXV

requirements, which hold period will run concurrently with the above referenced one year restricted

period under US securities legislation.

This news release does not constitute an offer of securities for sale in

the United States

. The

securities being offered have not been, nor will they be, registered under the United States

Securities Act of 1933, as amended, and such securities may not be offered or sold within

the

United States

absent U.S. registration or an applicable exemption from U.S. registration

requirements. Hedging transactions involving the shares of the Company may not be conducted

unless in compliance with the United States Securities Act of 1933, as amended.

About Mako Mining Corp.

Mako Mining is a publicly listed gold mining, development and exploration firm. It operates the

producing

La Trinidad

open-pit, heap leach gold mine in Sinaloa State,

Mexico

and is developing its

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 both

Mexico

and

Nicaragua

.

Currently, Mako is exploring for gold and silver mineralization on more than 60,200 hectares (602

km2) land holdings in Sinaloa State,

Mexico

and on 13,771 hectares (138 km2) at the San Albino-

Murra and El Jicaro properties, both in

Nueva Segovia

,

Nicaragua

. The Corona de Oro Gold Belt,

approximately 3 kilometres wide by 23 kilometres long, contains hundreds of historical mines and

workings and spans the entirety of the Company's

Nicaragua

land package.

Forward

Looking Statements

This news release contains "forward

looking statements" within the meaning of applicable

Canadian securities legislation. Forward

looking statements include, but are not limited to,

statements related to activities, events or developments that the Company expects or anticipates

will or may occur in the future, including, without limitation, statements related to the expected final

approval of the TSXV following the closing of the Offering and the use of proceeds received from

the Offering. These statements speak only as of the date of this news release. Forward-looking

statements are based on a number of factors and assumptions made by management and

considered reasonable at the time such statements are made, and forward

looking statements

involve known and unknown risks, uncertainties and other factors that may cause the actual

results, performance or achievements to be materially different from those expressed or implied by

the forward

looking statements. Such risk factors include but are not limited to, the Company not

obtaining final approval for the Offering from the TSXV, management determining that it is prudent

to re-allocate the use of proceeds from the Offering based on bona fide business reasons, and

those factors disclosed in the Company's current Management's Discussion and Analysis as well

as other public disclosure documents, available under the Company's profile on SEDAR at

www.sedar.com

. Although the Company has attempted to identify important factors that could

cause actual actions, events or results to differ materially from those described in forward

looking

statements, there may be other factors that cause actions, events or results not to be as

anticipated, estimated or intended. There can be no assurance that forward

looking statements will

prove to be accurate. The forward-looking statements contained herein are presented for the

purposes of assisting investors in understanding the Company's plans, objectives and goals and

may not be appropriate for other purposes. Accordingly, readers should not place undue reliance

on forward

looking statements. The Company undertakes no obligation to update forward

looking

statements if circumstances or management's estimates or opinions should change except as

required by applicable securities laws.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of

the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE

Mako Mining Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/March2019/08/c6286.html

%SEDAR: 00024156E

For further information:

Mako Mining Corp., Kevin Bullock, Chief Executive Officer, telephone:

(416) 408-3703, email: [email protected]

CO: Mako Mining Corp.

CNW 08:30e 08-MAR-19