Mako Mining Files Amended San Albino Technical Report
LEGAL*65146994.1
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
June 13th, 2024
TSX-V: MKO; OTCQX: MAKOF
Mako Mining Files Amended San Albino Technical Report
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “ Company”) announces that, in
connection with comments received from the British Columbia Securities Commission with respect to a
technical compliance review, it has filed an amended technical report dated as of June 10, 2024, with an
effective date of October 11, 2023 titled “Amended Technical Report and Estimate of Mineral Resources
for the San Albino Project Comprised of the San Albino and Las Conchitas Deposits, N ueva Segovia,
Nicaragua” (the “Amended Technical Report”).
The key amendments, in addition to certain other amendments as are outlined in the Amended Technical
Report, include the addition of Sections 16 through 21 of Form 43-101F1 under National Instrument 43 -
101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) in respect of the San Albino Project’s
mining and recovery methods, project infrastructure, market studies, environmental studies, and capital
and operating costs. The additional Sections 16 through 21 address disclosure requirements under 43-
101F1 pertaining to an “advanced property”, which is defined under NI 43 -101 as a property that has
mineral reserves or mineral resources where the potential economic viability is supported by a pre -
feasibility or a feasibility study , or mineral resources supported by a preliminary economic assessment .
The Company submitted the technical report in 2023 without sections 16 -21 following guidance given at
the time. The Company has included this additional disclosure in respect of the San Albino Project, as a
fully operational mine, at the BCSC’s request.
No changes were made to the resource estimates for the San Albino Project in the Amended Technical
Report.
Since the Effective Date, the Company’s resource model predicted that the Company would mine 26,940
oz Au, whereas the Company actually mined 32,567 oz Au, recovered 25,087 oz Au, and sold 25,106 oz
Au during the period November 1st, 2023 through May 31st, 2024.
Akiba Leisman, CEO of Mako states , “San Albino is a deposit that requires extensive drilling to develop
reserves. The resource model has performed well with mined ounces exceeding predicted ounces by over
20% since the Effective Date. This additional disclosure now reflects a mining operation that has been in
commercial production for 3 years.”
The Amended Technical Report was prepared by Mine Development Associates, a division of RESPEC,
out of Reno, Nevada, in accordance with NI 43 -101 and can be found on the Company's website
at www.makominingcorp.com or under the Company's issuer profile at www.sedarplus.ca. The Amended
Technical Report supersedes the previously filed report dated October 25, 2023.
LEGAL*65146994.1
2
Qualified Persons
Steven Ristorcelli, C.P.G., is the independent qualified person, as defined under NI 43-101, who has
reviewed the scientific and technical information in this press release, except as noted below.
Jordan Anderson, RM SME, is the independent qualified person, as defined under NI 43-101, who has
reviewed the reconciliation of the ounces predicted in the resource model to the ounces mined during the
period November 1st, 2023, through May 31st, 2024.
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
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 exploration of prospective targets on its district-scale land package.
For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 917-558-
5289, E -mail: [email protected] or visit our website at www.makominingcorp.com and
SEDAR www.sedarplus.ca.
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 Mako’s primary objective to operate San Albino profitably and fund exploration of prospective 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, changes in the Company’s exploration and development plans and growth parameters; unanticipated
costs; the current U.S. Treasury Department sanctions measures imposed in Nicaragua on October 24, 2022 having
impacts on business operations not currently expected, or new sanctions being imposed by the U.S. Treasury
Department or other government entity in Nicaragua in the future; and other risks and uncertainties as disclosed in
the Company’s public disclosure fili ngs on SEDAR+ at www.sedarplus.ca. Such information contained herein
represents management’s best judgment 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 Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.