Mako Mining Announces Stock Option Grants

595 Burrard Street, Suite 2833

Vancouver, BC V7X 1K8

Tel: (604) 646-1580

www.makominingcorp.com

TSX-V: MKO | OTCQB: MAKOF

July 22, 2020

PRESS RELEASE - #20-16

TSX-V: MKO; OTCQB: MAKOF

Mako Mining Announces Stock Option Grants

Mako Mining Corp. (TSX-V: MKO; OTCQ X: MAKOF) (“Mako” or the “Company” ) is pleased to

announce that it has granted an aggregate of 1,300,000 stock options to its non-executive directors, each

exercisable to acquire one common share of Mako at an exercise price of $ 0.51 until July 21, 2025. The

stock options vest as to 25% on the date of grant, and as to 25% on each of the first, second and third

anniversary of the date of grant.

On behalf of the Board,

Akiba Leisman

Chief Executive Officer

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration company. 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, 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: Some of the statements contained herein may be considered “forward -looking

information” within t he meaning of applicable securities laws. Forward -looking information is based on certain

expectations and assumptions, including that the Company will develop a high -grade gold property at San Albino,

and be able to bring San Albino into production quickl y and efficiently, while continuing exploration of prospectus

targets in Nicaragua. 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, that the Company will be successful with its mine 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 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 with respect to San Albino and may not be appropriate for other purposes.

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.