Mako to Complete Gold-Linked Loan Repayments to Sailfish in Silver
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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
March 2nd, 2023
TSX-V: MKO; OTCQX: MAKOF
Mako to Complete Gold-Linked Loan Repayments to Sailfish in Silver
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to announce
that it has reached an agreement with Sailfish Royalty Corp. ("Sailfish") whereby the remaining seven
payments of the outstanding gold-linked loan entered into on August 27, 2021 (“Gold Loan”) will be made
in physical silver.
Akiba Leisman, CEO of Mako states, “the Gold Loan was a flexible form of financing for Mako, and we are
happy to reciprocate that flexibility by repaying the remaining 7 payments due to Sa ilfish with physical
silver, which we currently mine as a byproduct at San Albino.”
The outstanding Gold Loan entitled Sailfish to receive cash compensation based on the prevailing price of
gold. So far, Mako has made 17 payments out of a total of 24 monthly cash payments to Sailfish equal to
the cash equivalent of 205 ounces of gold multiplied by the preceding month’s average gold price with a
floor of US$1,750/oz and a ceiling of US$2,000/oz pursuant to the terms of the Gold Loan. The remaining
seven payments owed to Sailfish will be based on the same formula , but will be paid in physical silver in
lieu of cash.
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 pr ofitably
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: 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 thereo n o r
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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, the expectation that definitive
documentation will be entered into on or before 120 days from the effective date of the LOI; that Mako will deliver 13,500 ounces
of silver, gold equivalent or silver credits to Sailfish on the timelines agreed to following execution of definitive documentation; that
Mako will pay a US$150,000 break fee to Sailfish in the event it breaches the LOI; the obligations of Mako under the definitive
silver stream agreement to be entered into will be secured by a mortgage in favour of Sailfish against Mako’s San Albino property;
that all conditions to the proposed Transaction will be met or waived; and Sailfish will complete its US$4,000,000 financing in order
to fund the purchase price of the Initial Silver Stream; that Mako will be able 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, any of the conditions to the proposed Transaction not being met on the timeline expected, or at all,
and other risks and uncertainties as disclosed in the Company’s public disclosure filings 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. 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.