Mako Mining Announces Improvements IN Operating Performance
LEGAL*57088264.1
595 Burrard Street, Suite 2833
Vancouver, BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQX: MAKOF
Suite 700 - 838 West Hastings St.
Vancouver, BC - V6C 0A6
IR: (647) 203-8793
www.makominingcorp.com
TSX-V: MKO | OTCQX: MAKOF
September 20th, 2023
TSX-V: MKO; OTCQX: MAKOF
MAKO MINING ANNOUNCES IMPROVEMENTS IN OPERATING PERFORMANCE
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to
provide the following update:
Since late February and prior to receiving Las Conchitas permits (see Press Release dated June
19th), the Company was affected by processing a higher proportion of lower grade stockpiled
material; this affected both the blended head grade and plant metallurgical recovery. Initial permits
for Las Conchitas were received in June and Las Conchitas material started to be processed in
late July. After a two week ramp up period, the Company has resumed its original processing plan
of producing 50% high grade diluted vein material with 50% lower grade stockpile material, which
resulted in substantial improvements in head grades and recoveries. Since August 14th, 2023, the
Company registered head grades of 8.0 g/t Au and recoveries averaging 81.4%. Month to date,
head grades have been 8.9 g/t with recoveries averaging 85.9% (see table below).
Table 1 – Preliminary Production Stats
*Preliminary results based on information obtained through September 18th, 2023
Akiba Leisman, CEO of Mako states that “now that the initial permits for Las Conchitas are in
place, since August 14 th the Company has been processing planned rates of 50% diluted vein
material with 50% lower grade stockpile material, up from the 35%/65% ratio the Company was
processing from late February through early August. Head grades, recoveries and gold sales are
all materially higher, which will have a substantial positive impact to cash flow and profitability.”
Period Tonnes
(t)
Head Grade
(g/t)
Recovery
(%)
Au. Recovered
(Oz.)
July 1st - Aug 13th 25,645 5.31 69.90% 3,064
Aug 14th - Sep 18th 19,181 7.96 81.40% 3,995
Sep 1st - Sep 18th 9,684 8.86 85.90% 2,370
LEGAL*57088264.1
1 Refer to Page 2: Non-GAAP Measures
Qualified Person
John Rust, a metallurgical engineer, and qualified person (as defined under NI 43-101) has read
and approved the technical information contained in this press release . Mr. Rust is a senior
metallurgist 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 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 pri mary objective is to
operate San Albino profitably and fund exploration 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: Some of the statements contained herein may be considered “forward -
looking information” within the meaning of applicable securities laws. Forward-looking information can be
identified by words such as, without limitation, “estimate", "project", "believe", "anticipate", "intend",
"expect", "plan", "predict", "may" or "should" or variations thereon or comparable terminology. The forward-
looking information contained herein reflects the Company’s current beliefs and expectations, based on
management’s reasonable assumptions, and includes, without limitation, that the Company’s maiden
resources at Las Conchitas (expected to be published by the end of the quarter) will allow Mako to generate
a 5-year interim mining plan. Mako’s primary objective to operate San Albino profitably and fund exploration
of prospective targets on its district -scale land package. Such forward -looking information is subjec t 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, changes in the Company’s
exploration and development plans and growth parameters and its ability to fund its growth to reach its
expected new record production numbers; unanticipated costs; the October 24 measures having impacts
on business operations not current expected, or new sanctions being imposed by the U.S. T reasury
Department or other government entity in Nicaragua in the future; 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 ju dgment as of the date hereof, based on information
currently available. 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 P rovider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.