Mako Mining Provides Update ON Its San Albino Operation IN Nicaragua
LEGAL*57358668.1
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
October 31st, 2022
TSX-V: MKO; OTCQX: MAKOF
MAKO MINING PROVIDES UPDATE ON ITS SAN ALBINO OPERATION IN
NICARAGUA
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”), a Canadian
company operating in Nicaragua, has been analyzing the October 24, 2022 announcement by
the United States Department of the Treasury’s Office of Foreign Assets Controls ( “OFAC”)
relating to new U.S. sanctions imposed on the General Directorate of Mines in Nicaragua (“DGM”)
pursuant to Executive Order (“EO”) 13851, as well as the issuance of EO 14088 (“October 24
measures”).
While the Company is currently undertaking an internal review of the impact of the October 24
measures on current and future planned operations in Nicaragua, in coordination with its U.S. and
Canadian advisors , and consistent with its commitment to comply with applicable legal and
regulatory requirements, the Company does not expect any material changes to its Nicaragua
operations due to the October 24 measures.
Akiba Leisman, CEO of Mako st ates that “we are committed to Nicaragua and the growth of our
San Albino mining operations. We are especially proud of the commitment and dedication of our
employees, the economic growth and success of our local communities and the broader Nueva
Segovia region, and look forward to the continuing success of our mine and Company.”
The Company will provide further updates once it has additional information, following discussions
with its advisors and the U.S. government, as necessary.
On behalf of the Board,
Akiba Leisman
CEO
About Mako
LEGAL*57358668.1
1 Refer to Page 2: Non-GAAP Measures
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 prim ary 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
Statements contained herein that are not historical fact are considered “forward-looking information” within the meaning
of applicable securities laws. Forward-looking information is based on management’s current expectations, beliefs and
assumptions, and includes, without limitation: that the Company does not expect any material changes to its Nicaragua
operations due to the October 24 measures; that the Company looks forward to the continuing success of its mine and
the Company; that the Company will provide further updates once it has additional information, following discussions
with its advisors and the U.S. government, as necessary; and that the Company’s primary objective is to operate San
Albino profitably and fund exploration of prospective targets on its district-scale land package. 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 October 24 measures do
result in the need for material changes to the Company’s Nicaragua operations, impacting the continuing success of
the San Albino mine and the Company; risks and uncertainties relating to other political risks involving the Company’s
exploration and development of mineral properties interests , including any future E Os and sanctions imposed on
Nicaragua; the inherent uncertainty of cost estimates and the potential for unexpected costs and expense; commodity
price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties
disclosed in the Company’s public filings at www.sedar.com. Forward-looking information contained herein is based on
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 in connection with its busi ness and
operations, share and loan capital, 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.