Mako Mining Provides COVID-19 Update

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March 23, 2020

PRESS RELEASE - #20-4

TSX-V: MKO

MAKO MINING PROVIDES COVID-19 UPDATE

Mako Mining Corp. (TSX-V: MKO; OTCQB: MAKOF) (“Mako” or the “Company”) would like to provide an

update on proactive changes being made to the San Albino gold project development schedule and the Company’s

exploration program in response to the COVID-19 global pandemic.

Mako is presently not aware of any confirmed cases of COVID-19 at its operations or the local communities that

surround the San Albino gold project. The Company has been on an aggressive schedule to complete construction

of the 500 tonnes per day processing plant, ramp up mining operations, and maintain significant infill and greenfield

exploration programs. As of yesterday, the Company’s employee and contractor workforce was slightly over 400

people. Mako is responsible for providing medical services to all employees and contractors, and by extension the

local community, as was the case with all mines built by Mako’s team over the years in rural areas. If an infection

were to occur in the community, it would greatly strain our ability to provide sufficient care. Therefore, Mako is

taking significant steps to lower the risk of infection at our project site and in the local community, including reducing

the number of people at our operations to slightly less than 250 people. Additionally, all non-essential travel at the

Company was eliminated last month.

Two American expat employees, the General Manager of San Albino and Senior Exploration Manager, have agreed

to remain at the project site for the foreseeable future. The Senior Exploration Manager has nearly completed his

mandatory 14-day quarantine required for any expat employee travelling to the project site.

All five Mexican expats at the project site have returned home. These professionals were leading the grade control

program, which is an essential part of mining gold mineralization. As a result, mining of gold mineralization at San

Albino has been suspended. Mining activity has transitioned to earthworks and construction of the tailings storage

facility. As the processing plant was not scheduled to begin operating until late summer, the anticipated primary

effect on this aspect of the project will be a smaller than previously expected stockpile.

To the extent possible, Mako is reducing the use of non-local contractors to limit the amount of travel to and from

the project site. The Company is also engaging with local authorities to ensure the surrounding communities are

properly informed of the symptoms of COVID-19 as well as the recommended hygiene regiment necessary to prevent

the spread.

Mako is also in the process of doubling the healthcare staff at the project site to alleviate the burden on current staff

implementing the new health and safety protocols. The Company has also put in place protocols for isolation and

safe transportation to an offsite quarantine area for anyone who is symptomatic or was exposed to an individual with

symptoms.

The transport of goods and equipment across the Nicaraguan border has begun to slow down. In anticipation of this,

the Company increased the inventory of all consumables at the project site in the weeks leading up to this press

release, which has allowed the construction of the processing plant to continue as scheduled, albeit with a smaller

workforce.

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Prior to the streamlining of staff, the construction of the processing plant and mining were running approximately 60

days ahead of schedule, and slightly under budget. The expectation is that this buffer will be expended as logistics

become increasingly difficult to coordinate. To that end, the Company is now expecting first gold pour at San Albino

to occur sometime in the fourth quarter.

On the exploration front, active exploration drill rigs are being reduced from four to two, with a commensurate

reduction of exploration contractor staff. This reduction will further reduce contact between external contractors and

the local community. Considerable progress has been made on resource definition drilling at Las Conchitas since

2019 and there is no plan to stop drilling. Assay results from drilling at the Bayacun Zone within Las Conchitas are

scheduled to be released later this week.

With regards to corporate staffing, Mako has always maintained a lean corporate staff and overhead. In fact, the

Company has been an early adopter of telecommuting, with the CEO and VP, Corporate Development working

primarily from home offices over the past year. Additionally, the Company’s two primary offices in Vancouver, BC

and Tucson, AZ are subleased with no long-term commitments.

Akiba Leisman, CEO of Mako Mining states, “I want to thank all of our employees and contractors who have acted

in a calm and professional manner during these challenging times. The team at Mako is deeply committed to seeing

the San Albino project succeed, and we are fortunate to have the human and financial resources available to overcome

these challenges. Our thoughts and prayers are with everyone in Nicaragua, the United States and globally as we

face this crisis together, but especially with the healthcare workers around the world who are on the front lines.”

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” or

“forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are characterized

by words such as “plan,” “expect”, “schedule”, “target”, “believe”, “anticipate”, “estimate” and other similar words, or

statements that certain events or conditions “may” or “will” occur. Forward-looking information contained herein includes,

but is not limited to, information with respect to the Company’s strategy, plans and future operations, including with respect to

the proactive changes being made to the San Albino gold project development schedule and the Company’s exploration program

in response to the COVID-19 global pandemic; the great strain that would be caused on the Company’s ability to provide

sufficient medical care if an infection were to occur in the local community; the significant steps Mako is taking to lower the risk

of infection at the San Albino project site and in the local community, including by reducing the number of people at our

operations to slightly less than 250 people and eliminating all non-essential travel at the Company; the anticipated primary

effect of the impact of the COVID-19 crisis on the commencement the processing plant operations being a smaller than previously

anticipated stockpile; Mako’s use of non-local contractors to limit the amount of travel to and from the project site; the

Company’s engagement with local authorities to ensure the surrounding communities are properly informed of the symptoms of

COVID-19, as well the recommended hygiene regiment and travel limits to prevent the spread of the virus; Mako’s efforts to

double the number of healthcare staff at the project site to alleviate the burden on current healthcare staff in implementing the

new safety protocols; the Company’s expectation that the 60-day buffer built into the mining schedule since construction

commenced will be expended as logistics become increasingly difficult to coordinate; the Company not foreseeing a major delay

to the commissioning of the processing plant, barring a deterioration of the situation; the Company’s plans to continue drilling

at Las Conchitas; and the expectation that assay results from drilling at the Bayacun Zone within Los Conchitas will be released

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later this week. Forward-looking statements are based on the opinions, assumptions and estimates of management considered

reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known

and unknown factors that could cause actual events or results to differ materially from those stated in the forward-looking

statements. These factors could include the Company learning of confirmed cases of COVID-19 at the San Albino site or in the

local community and not being successful in providing sufficient medical care; the Company’s significant steps to lower the risk

of infection at site and in the local community, as discussed herein, not being successful; Mako failing in being able to reduce

the burden on current healthcare staff; the situation deteriorating and there being an unforeseen delay in the commissioning of

the processing plant; the Company being unable to continue drilling at Las Conchitas and the assay results from drilling at the

Bayacun Zone being delayed. Any forward-looking information contained herein is included for the purposes of providing

investors with the Company’s current plans and expectations at its San Albino project and the Las Conchitas area as a result of

the impact of the COVID-19 pandemic 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.