Mako Mining Announces Drilling Permits for La Segoviana and Corporate Update Drilling Permits Received at La Segoviana
LEGAL*54849493.1
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595 Burrard Street, Suite 2833
Vancouver, BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQX: MAKOF
December 30, 2021
TSX-V: MKO; OTCQX: MAKOF
Mako Mining Announces Drilling Permits for La Segoviana and Corporate Update
Drilling Permits Received at La Segoviana
The Company is pleased to report that the Ministry of Environmental and Natural Resources (“MARENA”) has
granted an exploration permit to the Company for the La Segoviana concession, which was granted to Mako in 2020.
The permit is valid for 10 years and is renewable for up to an additional 20 years. The Company is now permitted to
drill up to 1,100,000 meters (“m”) as follows: 500,000 m of diamond drilling; 300,000 m of reverse circulation
drilling; and 300,000 m of blast hole drilling. The Company is also permitted to carry out up to 32,500 m of trenching.
Key surface rights acquisitions at La Segoviana have already been made and the Company will be preparing a budget
for the first exploration program at this concession early in the beginning of 2022.
Corporate Update
The Company also announces that Cesar Gonzalez, Vice President of Corporate Development, has left the Company
to focus on his other endeavors.
Akiba Leisman, Chief Executive Officer of Mako states that, “we are extremely happy that MARENA has granted
us an exploration permit at La Segov iana, which in addition to the recently granted permit at Potrerillos, contains
some of our most prospective areas for exploration. Regarding the Corporate Update, we are sad to see Cesar go from
Mako and we wish him well on his other activities.”
On behalf of the Board,
Akiba Leisman
Chief Executive Officer
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About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company operates
the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the highest-grade open pit
gold mines globally. Mako’s primary objective is to operate San Albino profitably and fund ex ploration of
prospective targets on its district-scale land package.
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 Information: Forward-Looking Information: Some of the statements contained herein may be considered
“forward-looking information” within the meaning of applicable securities laws. The forward -looking information contained
herein is based on the Company’s plans and certain expectations and assumptions, including in respect of the drilling and
trenching permits at La Segoviana; the timing for preparing a budget for the first exploration program at this concession early
in the beginning of 2022; and that the Company can operate San Albino profitably in order to fund exploration of prospective
targets on its district -scale land package. 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 risk that any permits are revoked; that the exploration budget for La Segoviana is not prepared within the
expected timeline; the Co mpany’s failure to operate San Albino profitably and/or fund its exploration of prospectus targets on
its district-scale land package; political risks and uncertainties involving the Company’s exploration properties; the inherent
uncertainty of cost estima tes and the potential for unexpected costs and expense; commodity price fluctuations and other risks
and uncertainties as disclosed in the Company’s public disclosure filings on SEDAR at www.sedar.com. 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 expectations regarding the San Albino gold 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.