Surface Intersections At The San Albino SW Pit

VANCOUVER - Mako Mining Corp. reported additional high-grade drill results from an area located approximately 50 meters (m) southwest of the current open pit mining operations at the San Albino West Pit in northern Nicaragua (the "SW Pit"). Recent drilling has focused on near surface, high grade gold mineralization in the SW Pit area within and proximal to the currently permitted pit limits. Results of drilling in this area are confirming multiple high grade shallow zones. In 2022, a total of 16,472m in 126 drill holes have been completed in the SW Pit area.

Highlights of selected intercepts of the high-grade gold mineralization include: 98.50 g/t Au and 66.3 g/t Ag over 1.9m (Estimated True Width – "ETW”), including 168.30 g/t Au and 110.0 g/t Ag over 1.1m; 52.66 g/t Au and 47.2 g/t Ag over 2.0m (1.9m ETW), including 78.14 g/t Au and 69.6 g/t Ag over 1.2m; 31.32 g/t Au and 76.1 g/t Ag over 1.3m (1.1m ETW); and 24.35 g/t Au and 31.0 g/t Ag over 2.1m (1.6m ETW).

Akiba Leisman, CEO, said, “The SW Pit is shaping up to be a shallow, high-grade zone within 50-100 m of the mining operations at San Albino. Last year we were able to extend the mineralized zone underneath our mining contractor's workshop, by hitting 42.9 g/t Au over 4.1m ETW 36m from surface, and now we have been able to extend this zone with multiple high-grade intercepts, over higher than average widths, along strike, and up and down dip. Currently, there exists a minimal resource at the SW Pit, which the Company is in the process of updating, and we aim to begin mining the SW Pit over the course of the next few months."

Several holes were designed to test the continuity of mineralization along strike and dip of diamond drill hole SA22-615 (see attached drill plan) which intersected three shallow zones: an upper zone of 1.44 g/t Au and 30.7 g/t Ag over 0.50m at 30m below surface, a high-grade, main zone of 42.91 g/t Au and 38.3 g/t Ag over 4.50m (4.1m ETW) at 36m below surface, and a lower zone of 15.68 g/t Au and 7.4 g/t Ag over 1.90m (1.9m ETW) at 60m below surface.

Drill hole SA22-692 intersected an interval of high-grade, near surface gold mineralization of 98.50 g/t Au and 66.3 g/t Ag over 1.9m (ETW), 39m below surface (see attached cross section and drill hole plan). This corresponds to the main zone intersected in hole SA22-615 approximately 57m up-dip.

SA22-689 intersected 52.66 g/t Au and 47.2 g/t Ag over 2.0m (1.9m ETW), approximately 64m below surface and 3.55 g/t Au and 12.1 g/t Ag over 2.3m (1.5m ETW), at a vertical distance of 46m from surface. This hole intersected the lower zone approximately 14m downdip from SA22-615.

Diamond drill hole SA22-676 intersected 31.32 g/t Au and 76.1 g/t Ag over 1.3m (1.1m ETW), approximately 35m from surface, and diamond drill hole SA22-673 intersected 24.35 g/t Au and 31.0 g/t Ag over 2.1m (1.6m ETW), 22m from surface.  Both holes were drilled to test the strike continuity of the upper mineralized zone encountered in hole SA22-615. Drill intersects are located 124m and 104m respectively along strike.  

In addition, the Company completed a reconnaissance drill program to test for mineralization across a major NW trending fault in an area of no previous drilling (see drill plan and table below).  Eight diamond drill holes were completed, three drill holes intersected mineralized intervals above an internal cutoff grade (1.0 g/t Au).  The rest of the drill holes intersected areas disturbed by faulting and/or were intruded by late andesitic dykes at the projected depth.  The Company intends to continue testing the projected extension further to the southwest.