Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) announces that its previously issued audited consolidated financial statements for the eight months ended

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595 Burrard Street, Suite 2833

Vancouver, BC V7X 1K8

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www.makominingcorp.com

TSX-V: MKO | OTCQX: MAKOF

November 26, 2020

TSX-V: MKO; OTCQX: MAKOF

Mako Files Restated December 31, 2019 Year End Financial Statements

Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) announces that its previously

issued audited consolidated financial statements for the eight months ended December 31, 2019 , and the

corresponding management’s discussion and analyses (collectively, the “Restated Documents”) have been restated

and reissued as of today’s date.

During the eight months ended December 31, 2019, the Company included an accrual for mining concession taxes

in Mexico that should have been reversed and included a value added taxes (“IVA”) receivable relating to the

settlement agreement with the mining c ontractor in Mexico that should have been adjusted for recoverability. The

net effect of reversing the accrual and the IVA receivable resulted in an increase in net income and working capital

of $923,993.

The Company has filed the Restated Documents on SEDAR today, which are available under the Company’s profile

at www.sedar.com. The Restated Documents will replace and supersede the respective previously -filed financial

statements and management’s discussion and analysis for such period (collectively, the “Previous Documents”). The

Previous Documents should no longer be relied upon.

On behalf of the Board,

Akiba Leisman

Chief Executive Officer

About Mako

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, 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 the meaning of applicable securities laws , such as the Company’s objective to bring San Albino into production quickly

and efficiently while continuing to explore prospective targets in Nicaragua. Although Mako believes that the ex pectations

reflected in its forward -looking information are reasonable, such information has been based on factors and assumptions

concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available

information to Mako. Such information is subject to known and unknown risks, uncertainties and other factors that could

influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied

in the forward-looking information. A number of important factors including those set forth in other public filings could cause

actual outcomes and results to differ materially from those expressed in these forward-looking statements. Readers are cautioned

to not place undue reliance on forward -looking statements. The statements in this press release are made as of the date of this

release and, except as required by applicable law, Mako does not undertake any obligation to publicly update or to revise any

of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required

under applicable securities laws.

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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.