Mako Mining Corporation (MAKO)

Mako Mining Reports Q1 2026 Financial Results, Including Adjusted EBITDA(1) of US$40.1 Million and EPS of US$0.26/ShareMay 15, 2026 7:45 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / May 15, 2026 / Mako Mining Corp. (NASDAQ:MAKO)(TSXV:MKO) ("Mako" or the "Company") is pleased to report financial results for the three months ended March 31, 2026 ("Q1 2026"). All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.The Company's financial results for Q1 2026 reflect record revenue of $68.6 million, which generated $46.1 million in Mine Operating Cash Flow ("Mine OCF") (1)(3), $40.1 million in Adjusted EBITDA (1) and $23.1 million in Net Income ($0.26/share). The Company sold 13,721 oz of gold at an average realized gold price (1)(2) of $4,902 per oz with a $2,275 All-In Sustaining Cost ("AISC") ($/oz sold). (1) (2)Q1 2026 HighlightsFinancial$68.6 million in Revenue$40.1 million in Adjusted EBITDA (1)$46.1 million in Mine OCF (1)(3)$23.1 million Net Income$96.1 million in Cash and Trade Receivables$1,843 Cash Cost ($/oz sold) (1)(2)$2,275 AISC ($/oz sold) (1)(2). San Albino $1,661 and Moss Mine $2,977Return on Equity ("ROE") (1) of 36.4% and Return on Assets ("ROA") of 23.5% (1)Growth$2.5 million in exploration and evaluation expenses ($1.2 million in areas surrounding San Albino, $1.2 million at Eagle Mountain, Guyana and $0.1 million in Mt. Hamilton)Akiba Leisman, CEO of Mako, states, "Q1 2026 was a record quarter for production, revenue, and profitability, with net income of $0.26 per share. These results were driven by just one mine in full commercial production and one ramping up. Our two remaining projects, both substantially larger than either asset in production, are fully funded and are expected to meaningfully boost profitability over the next few years. Mako closed the quarter with nearly $100 million in cash and no debt beyond our gold stream used to acquire the Mt. Hamilton gold project currently under construction. Over the next few quarters, the Company will focus on lowering our cost of capital to accelerate our accretive growth trajectory."Table 1 - Operating Data San Albino and Moss Mine Table 2 - Consolidated Revenue Table 3 - EBITDA(1) Reconciliation Chart 1Q1 2026 - Mine OCF(1)()3) Calculation and Cash Reconciliation (in $ million) Chart 2Twelve Trailing Months ("TTM") - Mine OCF(1)(3) Calculation and Cash Reconciliation (in $ million) End NotesRefers to a Non-GAAP financial measure within the meaning of National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure ("NI 52-112"). Refer to information under the heading "Non-GAAP Measures" as well as the reconciliations in this press release.Refers to a Non-GAAP ratio within the meaning of NI-52-112. Refer to information under the heading "Non-GAAP Measures" later in this press release.Refer to "Chart 1 & 2 - Mine OCF Calculation and Cash Reconciliation (in $ millions)" for a reconciliation of the beginning and ending cash position of the Company, including OCF.For complete details, please refer to the unaudited condensed interim consolidated financial statements and the associated management's discussion and analysis for the three months ended March 31, 2026, available under the Company's profile on SEDAR+ (www.sedarplus.ca), on EDGAR at www.sec.gov or on the Company's website (www.makominingcorp.com).Non-GAAP MeasuresThe Company has included certain non-GAAP financial measures and non-GAAP ratios in this press release such as EBITDA, Adjusted EBITDA, Mine OCF, Cash cost per ounce sold, , AISC per ounce sold, ROE, ROA and Average realized gold price per ounce sold. These non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. In the gold mining industry, these are commonly used performance measures and ratios, but do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's underlying performance of its core operations and its ability to generate cash flow."EBITDA" represents earnings before interest (including non-cash accretion of financial obligation and lease obligations), income taxes and depreciation, depletion and amortization."Adjusted EBITDA" represents EBITDA, adjusted to exclude exploration activities, share-based compensation and change in provision for reclamation and rehabilitation."Cash cost per ounce sold" is production costs divided by the number of gold ounces sold."AISC per ounce sold" includes cash costs (as defined above) and adds the sum of G&A, sustaining capital and certain exploration and evaluation ("E&E") costs, sustaining lease payments, provision for environmental fees, if applicable, and rehabilitation costs paid, all divided by the number of ounces sold. As this measure seeks to reflect the full cost of gold production from current operations, capital and E&E costs related to expansion or growth projects are not included in the calculation of AISC per ounce sold. Additionally, certain other cash expenditures, including income and other tax payments, financing costs and debt repayments, are not included in AISC per ounce sold."Mine OCF" represents operating cash flow, excluding taxes and royalties, changes in non-cash working capital and exploration expense."ROE" is calculated by dividing the twelve trailing months Net Income by the average shareholder's equity. The average shareholder's equity is calculated by adding the total equity at the end of the period to the total equity at the beginning of the period and dividing by two."ROA" is calculated by dividing the twelve trailing months Net Income by the average total assets. The average total assets is calculated by adding the total assets at the end of the period to the total assets at the beginning of the period and dividing by two."Average realized gold price per ounce sold" is calculated by dividing total gold revenue by the total gold ounces sold into the spot market.On behalf of the Board,Akiba Leisman
Chief Executive OfficerAbout MakoMako 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 and offers district-scale exploration potential. Mako also owns two assets in the U.S.: the Moss Mine in Arizona, an open pit gold mine in northwestern Arizona and the Mt. Hamilton Project, a permitted heap leach project in Nevada. Mako also holds a 100% interest in the PEA-stage Eagle Mountain Project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine permitting activity.For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 917-558-5289, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR www.sedar.ca.Cautionary Statement Regarding Forward-Looking InformationStatements contained herein, other than historical fact, may be considered "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Except for statements of historical fact relating to the Company, information contained herein constitutes forward-looking information, including, but not limited to, any information as to the Company's strategy, objectives, plans or future financial or operating performance. Forward-looking statements are characterized by words such as "plan", "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate" and other similar words or negative versions thereof, or statements that certain events or conditions "may", "will", "should", "would" or "could" occur. In particular, forward-looking information included in this press release includes, without limitation, statements with respect to:Eagle Mountain and Mt. Hamilton expected to meaningfully boost profitability over the next few years;the Company's focus over the next few quarters on lowering our cost of capital to accelerate our accretive growth trajectory;andForward-looking information is based on the opinions, assumptions and estimates of management considered reasonable on the date the statements are made, and is 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 projected in the forward-looking information. These factors include the Company's dependence on products produced from its key mining assets; fluctuating price of gold; risks relating to the exploration, development and operation of mineral properties, including but not limited to adverse environmental and climatic conditions, unusual and unexpected geologic conditions and equipment failures; risks relating to operating in emerging markets, particularly Nicaragua and South America, including risk of government expropriation or nationalization of mining operations; health, safety and environmental risks and hazards to which the Company's operations are subject; the Company's ability to maintain or increase present level of gold production; access to financing; cost and availability of commodities; increases in costs of production, such as fuel, steel, power, labor and other consumables; risks associated with infectious diseases; uncertainty in the estimation of mineral resources; the Company's ability to replace and expand mineral resources at its mines; factors that may affect the Company's future production estimates, including but not limited to the quality of ore, production costs, infrastructure and availability of workforce and equipment; risks relating to partial ownerships and/or joint ventures at the Company's operations; reliance on the Company's existing infrastructure and supply chains at the Company's operating mines; risks relating to the acquisition, holding and renewal of title to mining rights and permits, and changes to the mining legislative and regulatory regimes in the Company's operating jurisdictions; limitations on insurance coverage; risks relating to illegal and artisanal mining; the Company's compliance with anti-corruption laws; risks relating to the development, construction and start-up of new mines, including but not limited to the availability and performance of contractors and suppliers, the receipt of required governmental approvals and permits, and cost overruns; risks relating to acquisitions and divestures; title disputes or claims; risks relating to the termination of mining rights; risks relating to security and human rights; risks associated with processing and metallurgical recoveries; risks related to enforcing legal rights in foreign jurisdictions; competition in the precious metals mining industry; fluctuating currency exchange rates (including the US Dollar, Nicaraguan cordoba and Guyanese dollar exchange rates); the values of assets and liabilities based on projected future conditions and potential impairment charges; timing and possible outcome of pending and outstanding litigation and any labor disputes; taxation risks; scrutiny from non-governmental organizations; labor and employment relations; risks related to third-party contractor arrangements; repatriation of funds from foreign subsidiaries; community relations; risks related to relying on local advisors and consultants in foreign jurisdictions; the impact of global financial, economic and political conditions, global liquidity, interest rates, inflation and other factors on the Company's results of operations and market price of common shares; risks associated with financial projections; force majeure events; transactions that may result in dilution to common shares; future sales of common shares by existing shareholders; the Company's dependence on key management personnel and executives; possible conflicts of interest of directors and officers of the Company; the reliability of the Company's disclosure and internal controls; compliance with international ESG disclosure standards and best practices; vulnerability of information systems including cyber-attacks; as well as those risk factors discussed or referred to in the Company's annual information form and management's discussion and analysis and other public disclosure available under the Company's profile at www.sedarplus.ca, and on EDGAR at www.sec.gov.Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company's plans and objectives and may not be appropriate for other purposes.CAUTIONARY NOTE TO U.S. INVESTORS REGARDING MINERAL RESERVE AND MINERAL RESOURCE ESTIMATESNI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and resource information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.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.SOURCE: Mako Mining Corp.View the original press release on ACCESS NewswireOriginal: Mako Mining Reports Q1 2026 Financial Results, Including Adjusted EBITDA(1) of US$40.1 Million and EPS of US$0.26/Share

A Positive Gold-Antimony PEA Just Landed in a Fast-Track Jurisdiction, with 19,000 Metres of Drilling Already UnderwayMay 6, 2026 9:00 AM
PR Newswire (US) Issued on behalf of Rua Gold Inc.With antimony designated a U.S. Critical Mineral and gold pushing past US$4,500 per ounce, the small group of named developers with a positive PEA, a permitting pathway, and an active drill program just got a lot more interesting — one of them just published the numbers this week.VANCOUVER, BC, May 6, 2026 /PRNewswire/ -- Equity-Insider.com News Commentary — Two stories collided this quarter and most generalist investors haven't connected them yet. Gold has spent 2026 making and re-making record highs as central banks keep buying and major producers keep guiding output declines. Antimony — quietly designated by the U.S. as a Critical Mineral after China's late-2024 export restrictions — has become one of the most strategically sensitive metals on the Department of War's watchlist[1]. The names that sit at the intersection of those two stories — gold-antimony developers in friendly jurisdictions, with a real economic study, a permitting path, and a drill rig in the ground — are a very short list. That's the lane that just got crowded with new data. The supply side for both metals is breaking in slow motion. Major gold producers are guiding 2026 output lower because reserves are draining faster than discoveries can replace them. Antimony is even tighter — China still controls the majority of global supply, and the West is racing to stand up domestic and allied production. The premium goes to companies that are already permitted, already funded, and already turning the drill bits. Rua Gold Inc. just delivered all three at once.Rua Gold Inc. (TSX: RUA) (NZX: RGI) (OTC: NZAUF) (FSE: X9R) is the textbook version of that profile. On May 5, the Company released the results of a positive Preliminary Economic Assessment ("PEA") for the 100%-owned Auld Creek Gold-Antimony Project, located in the historic Reefton Goldfield on New Zealand's South Island. The base case delivers an after-tax NPV5% of US$42 million and an after-tax IRR of 17% with a 3.3-year payback. At spot gold (US$4,700/oz), those numbers move to US$113 million NPV and 36% IRR with payback inside 2.2 years. Initial capex is US$132.6 million — including a 29% contingency — for a 5.5-year, 250,000 tpa underground operation producing two saleable concentrates: gold and antimony.The PEA is a clean, conservative scoping study, not a stretch. Recoveries are 95% gold and 85% antimony from a simple grind-and-flotation circuit with no cyanide. The mine is underground decline access from surface portals, with the on-Crown-land footprint targeted at less than one hectare. Cash costs land at US$1,400/oz gold and AISC at US$1,850/oz, comfortably inside the global cost curve at any reasonable price deck. And critically, RUA GOLD has already initiated a 19,000-metre infill and step-out drill program targeting both Inferred-to-Indicated conversion ahead of a planned PFS and resource extension at depth and northwards — with the Inferred Resource open in both directions.Robert Eckford, CEO of Rua Gold, framed the milestone directly[2]: "The Auld Creek PEA highlights the strong cash flow generation, compelling economics, and scalability potential within the Reefton Goldfield. This study represents only a portion of the broader district opportunity, with significant upside remaining at depth and along strike. With drilling underway and permitting advancing, we are well positioned to deliver a PFS in Q4 2026 and take advantage of New Zealand's Fast-Track Approvals permitting process."The Investor's Five Questions, Answered1. Why Auld Creek when there are larger gold deposits in the same conversation?Because most larger projects don't have antimony as a dual-revenue stream, and most don't sit inside a Fast-Track Approvals jurisdiction. Auld Creek's PEA models contained metal of 84,000 ounces gold plus roughly 9,000 tonnes of antimony over the initial 5.5-year mine plan. The antimony exposure isn't a side note — at the PEA's US$27,000/t antimony price, the by-product credit is what drives the cost-per-ounce structure. And the Reefton Goldfield itself has historic production of more than 2 million ounces at grades reportedly between 9 and 50 g/t[2], with more than 120,000 hectares of permits under Rua Gold's control across the district.2. What's the catalyst path from here?It's a tight, well-defined sequence. RUA GOLD has already approved a work plan to advance the project to PFS stage, including the ongoing 19,000-metre drill program, metallurgical testing, geotechnical investigations, mine optimization and trade-off studies, detailed process design work, updated resource and mine plans, and baseline environmental and social surveys. Eckford has signaled the Company is positioned to deliver a PFS in Q4 2026 and to leverage New Zealand's Fast-Track Approvals permitting process — the same regime now being used by other large mining projects on both islands. The Company will file an independent NI 43-101 Technical Report on SEDAR+ within 45 days of the May 5 release.3. How real is the PEA's growth potential beyond the base case?Real enough that the next eighteen months are about expanding the deposit, not just confirming it. The current Mineral Resource Estimate for Auld Creek (effective February 27, 2026) reports 0.3 million tonnes Indicated at 5.67 g/t AuEq for 54,000 ounces, plus 1.3 million tonnes Inferred at 3.66 g/t AuEq for 150,000 ounces — at a 1.6 g/t cut-off. The Inferred Resource remains open at depth and to the north, and the active 19,000-metre infill and step-out drill program is specifically designed to target both directions. Per the Company's own disclosure, the program has the potential to further improve production volumes and extend the LOM beyond the current 5.5-year base case[2].4. What about Glamorgan — is the second project a real second leg?Glamorgan is the longer-dated optionality lever. The project is located in New Zealand's North Island Hauraki District, a region that has reportedly produced an impressive 15 million ounces of gold and 60 million ounces of silver historically[2]. It puts Rua Gold into both of New Zealand's most prolific historical gold districts at once — Reefton on the South Island for the near-term build, Hauraki on the North Island for the longer-cycle growth. Few small developers in any jurisdiction can claim that kind of district-scale footprint at this market cap.5. Who's signing off on the technical work?The PEA is signed off by three independent Qualified Persons within the meaning of NI 43-101: Abraham Whaanga, BSc, MAusIMM (CP) of RSC for the resource work; Gary Davison, FAusIMM, Principal Mining Engineer and Director of Mining One Consultants for mining methods, mining capital and operating costs, and economic analysis; and Marius Phillips, NHD Ex Met, MAusIMM (CP), RPEQ, Technical Director of Pitch Black Group for plant capital and operating costs, mineral processing, and metallurgical testing and recovery methods. Each QP has independently reviewed and verified the relevant underlying data and is independent of Rua Gold Inc. The PEA also identifies multiple Opportunities for Enhancement — including infill and exploration drilling, optimized metallurgical and process design, geotechnical optimization, and infrastructure scheduling — that the work plan is now systematically advancing.Five Reasons This Is the Setup1. PEA published, not pending. Auld Creek delivers US$42M after-tax NPV5%, 17% IRR, and 3.3-year payback at base case — and US$113M / 36% / 2.2 years at spot gold. The economic study isn't theoretical; it's on file as of May 5, 2026.2. Two saleable concentrates, no cyanide. The flowsheet is conventional grind, rougher flotation, and four-stage cleaner flotation — producing a gold concentrate and a separate antimony concentrate. Recoveries are 95% gold and 85% antimony. Lower technical risk than refractory-ore projects.3. Permitting pathway clarified. Per the CEO, the Company is positioned to take advantage of New Zealand's Fast-Track Approvals permitting process, with the PFS targeted for Q4 2026.4. 19,000 metres turning right now. The infill and step-out drill program is underway, targeting both the conversion of Inferred Resources to Indicated ahead of PFS, and step-out drilling that has the potential to further improve production volumes and extend the LOM beyond the current 5.5-year base case.5. Two world-class districts, one company. Reefton (South Island, >2 Moz historic at 9-50 g/t) for near-term build economics. Glamorgan (North Island Hauraki, ~15 Moz Au + 60 Moz Ag district-scale endowment) for longer-cycle growth.NOTE: For a Cautionary Note on the PEA and on the inclusion of Inferred Resources, please see the Disclaimer below.Read this and more news for Rua Gold at: https://equity-insider.com/rua-profile/In other industry developments and happenings in the market include:Nova Minerals Limited (NASDAQ: NVA) recently provided its quarterly activities update covering antimony grant progress, Estelle Project advancement, and corporate growth.Nova advanced its U.S. Department of War-funded antimony work program at the Estelle Gold-Antimony Project in Alaska, with the grant supporting domestic critical mineral capacity development[3]. The Estelle Project is positioned as a strategic gold-antimony development in a U.S. jurisdiction, mirroring the dual-metal exposure thesis that has become a central theme for North American critical-mineral developers in 2026."The combination of gold and antimony at Estelle gives us exposure to two metals where U.S. policy support continues to strengthen," Nova has previously stated. The Department of War antimony grant work and the broader Estelle exploration program form the core of Nova's near-term value drivers.GoldMining Inc. (NYSE American: GLDG) (TSX: GOLD) released results of an updated Preliminary Economic Assessment for its La Mina Project in Antioquia, Colombia[4].The updated PEA reports an after-tax NPV5% of approximately US$1.0 billion and an after-tax internal rate of return of 32.2% at base-case metal prices, with initial capital costs of US$523.3 million. The study contemplates an 11.2-year open-pit mine life processing 61.3 Mt of ore at 15,000 tpd, with average life-of-mine annual production of approximately 137,000 ounces gold equivalent. Total cash costs are estimated at US$872 per ounce gold and all-in sustaining costs at US$1,045 per ounce gold on a by-product basis. At higher spot-price assumptions, after-tax NPV5% rises to US$1.8 billion with after-tax IRR of 49.1% and payback improving to 1.9 years."The updated Project PEA highlights the underlying quality of the La Mina porphyry gold-copper mineral system," said Alastair Still, CEO of GoldMining. "By capturing current market consensus metals pricing, the PEA conceptualizes a robust $1.0 billion base case project that is characterized with an efficient capital intensity."New Found Gold Corp. (NYSE American: NFGC) (TSXV: NFG) released final 2025 infill and step-out drill results from the AFZ Core area at the Queensway Gold Project in Newfoundland and Labrador[5].The results confirmed strong continuity of gold mineralization in the Phase 1 open pits at Keats West, Iceberg, and Keats, while step-out drilling intersected new high-grade zones below planned Phase 2 pits. Highlights include 9.51 g/t Au over 19.85 metres at Keats West and 2.68 g/t Au over 16.40 metres in step-out drilling. The Company has also restarted its 2026 Queensway drill program with four rigs currently active, focused on resource conversion ahead of an updated Queensway technical report planned for the second half of 2026.Mako Mining Corp. (NASDAQ: MAKO) (TSXV: MKO) reported additional exploration results from the ongoing reverse-circulation and diamond drilling program at the San Albino Project's Las Conchitas area in northern Nicaragua[6].Drilling at the Candelaria zone within the Las Conchitas South area extended the footprint of gold mineralization more than 450 metres along strike from the existing Limon-Mango-Bayacun pit. Standout intercepts included 26.98 grams per tonne gold and 48.4 g/t silver over 7.0 metres (6.8 metres estimated true width) and 21.79 g/t Au with 23.0 g/t Ag over 5.0 metres. The area is fully permitted for mining, and management indicated plans to begin development southwest of the Candelaria fault once the rainy season ends in Q4 2026."These drill results at the San Albino Project are among the most significant over the past six years of mining," said Akiba Leisman, CEO of Mako. "We intersected multiple 100 gram-meter intercepts over 450 meters of continuous strike. The current LMB pit remains open at depth, therefore if these results are proven economical, they have the potential to make the current LMB pit significantly larger."FURTHER READING: https://equity-insider.com/rua-profile/CONTACT:
EQUITY INSIDER
info @acblanke1SOURCES:[1] U.S. Department of War critical minerals designations and China antimony export restrictions effective late 2024.[2] Rua Gold Inc. (May 5, 2026), "RUA GOLD Announces Positive PEA for the Auld Creek Gold-Antimony Project in Reefton, New Zealand."[3] Nova Minerals Limited quarterly activities update (April 29, 2026).[4] GoldMining Inc. (April 28, 2026), "GoldMining Announces Updated PEA Highlighting $1.0 Billion After-Tax NPV and 32% IRR at La Mina Project, Colombia."[5] New Found Gold Corp. (May 4, 2026), drill program update — Queensway Gold Project AFZ Core.[6] Mako Mining Corp. (May 4, 2026), "Mako Mining Intersects 26.98 g/t Au over 6.8 m Estimated True Width at Las Conchitas."DISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (MIQ). MIQ has been paid a fee for Rua Gold Inc. advertising and digital media. There may also be 3rd parties who may have shares of Rua Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ does not currently own shares of Rua Gold Inc. but reserves the right to buy and sell shares of Rua Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been approved by Rua Gold Inc.Cautionary Note on Production Decision and PEA:The PEA disclosed by Rua Gold Inc. for the Auld Creek Gold-Antimony Project is preliminary in nature; it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Any decision to commence production at Auld Creek would not be based on a feasibility study of mineral reserves and therefore would involve increased uncertainty and a higher risk of economic and technical failure. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, or permitting risks under New Zealand's Fast-Track Approvals framework or otherwise. This is a paid advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Logo - https://mma.prnewswire.com/media/2840019/5955888/Equity_Insider_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/a-positive-gold-antimony-pea-just-landed-in-a-fast-track-jurisdiction-with-19-000-metres-of-drilling-already-underway-302763953.html Original: A Positive Gold-Antimony PEA Just Landed in a Fast-Track Jurisdiction, with 19,000 Metres of Drilling Already Underway

Mako Mining Intersects 26.98 g/t Au over 6.8 m Estimated True Width at Las Conchitas, Extending an Area Fully Permitted for Mining to Over 450 m of StrikeMay 4, 2026 7:00 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / May 4, 2026 / Mako Mining Corp. (Nasdaq:MAKO)(TSXV:MKO) ("Mako" or the "Company") is pleased to report additional exploration results from the ongoing reverse circulation ("RC") and diamond drilling Program at Mako's newest mining area at its San Albino Project, Las Conchitas, located immediately south of the Company's San Albino gold mine in northern Nicaragua.The objectives of this drilling program are two fold:To test extensions of high-grade gold mineralization directly adjacent to current and future mining phases, but outside of the pit limits defined by the Company's 2023 mineral resource estimate (the "MRE") for the San Albino Project (see press release dated June 13th, 2024); andTo test additional high-grade mineralization, as a part of the Company's regional drill program on its 224 km2 district-scale, underexplored land package.The drill results reported in this release are from the Candelaria zone located within the Las Conchitas South (LC-S) area. Drilling targeted the southwest extension of gold mineralization proximal to the existing Limon-Mango-Bayacun ("LMB") pit. This area is fully permitted for mining and drilling has demonstrated gold mineralization that extends beyond the current pit limits defined by the MRE. The Company's objective is to define additional mineral resources to support expansion of the San Albino operation and extend the mine life.Key ObservationsDrilling conducted within a permitted mine areaHigh-grade mineralization defined proximal to existing pits and mine infrastructureNear-surface gold mineralization with width and grade of intercepts that compare favorably to existing mining areas at San AlbinoStrong gold grade and structural continuity which support potential for pit expansionDrilling confirms mineralization is open along strike and at depthDrilling Highlights26.98 grams per tonne ("g/t") gold ("Au") and 48.4 g/t silver ("Ag") over 7.0 m (6.8 m Estimated True Width ("ETW"))21.79 g/t Au and 23.0 g/t Ag over 5.0 m (4.0 m ETW)17.89 g/t Au and 31.6 g/t Ag over 2.0 m (1.5 m ETW)29.18 g/t Au and 39.8 g/t Ag over 5.1 m (ETW)Akiba Leisman, CEO of Mako states that "these drill results at the San Albino Project are among the most significant over the past six years of mining. We intersected multiple 100 gram-meter intercepts over 450 meters of continuous strike, including those being mined on the northeast side of the Candelaria fault. The current LMB pit remains open at depth, therefore if these results are proven economical, they have the potential to make the current LMB pit significantly larger. Located in a permitted area, we plan to begin development to the southwest of the Candelaria fault once rainy season ends in Q4 2026."The drilling campaign at the Candelaria zone within the LC-S area has increased the footprint of gold mineralization from the LMB pit to the southwest. Current drilling has extended mineralization over 450 m along strike and remains open to the southwest and down dip to the northwest.Drill hole LC26-RC1091 intersected a wide, high-grade vein of 21.79 g/t Au and 23.0 g/t Ag over 5.0 m (4.0 m ETW), 34 m from surface. This intercept is located 67.6 m from the 2023 MRE Final Pit (see Table & Figures below) and continues to support the expansion of high-grade gold mineralization outside the pit limits defined by the MRE. This drill hole was designed to extend the mineralization defined by hole LC20-214 which intersected 7.01 g/t Au and 11.4 g/t Ag over 5.7 m (3.1 m ETW) (see press release dated June 15, 2020).In conjunction with the exploration program, the Company completed eight geotechnical drill holes within the same area to optimize possible future pit design and to ensure pit slope stability. LC26-GEOTEC-07 intersected 29.18 g/t Au and 39.8 g/t Ag over 5.1 m (ETW), 31.5 m from surface. This drill hole confirmed a 21.0 m strike extension from LC26-RC1091 described above.LC26-RC1094 intersected 17.89 g/t Au and 31.6 g/t Ag over 2.0 m (1.5 m ETW), 82 m from surface and 61.2 m down-dip from drill hole LC26-GEOTEC-07 described above and 141.1 m from the final MRE pit limit. This drill hole confirms down dip continuity and extends well below the limits of the current resource model.Drill hole LC26-RC1110 intersected 26.98 g/t Au and 48.4 g/t Ag over 7.0 m (6.8 m ETW), 90.3 m below surface and 188 m from the MRE final pit limit. This intersect confirms 450 m of high-grade mineralization along strike and remains open, showing potential for further expansions to the southwest.Table - Assay Results Reported in This Press Release Notes:RC drill holes are denoted by "RC" prior to the drill hole name. Diamond only holes do not have a prefix prior to the drill hole number. Combination holes of RC & Diamond are denoted by "C" prior to the drill hole number.The mineralized intervals shown above utilize a 1.0 g/t gold cut-off grade with not more than 1.0 m of internal dilution. Widths are reported as drill hole lengths. Estimated True Width is estimated from interpreted sections. In addition to the drill holes presented in the table above, the following drill holes returned only anomalous values: LC26-RC1093, LC26-C048 and LC26-588. In addition to the drill holes presented in the table above, the following drill holes returned no significant values: LC26-RC1092. Drill hole LC26-C047 was abandoned.Figure 1 - Drill Hole Plan for Las Conchitas South Figure 2 - Longitudinal Section for Las Conchitas South Sampling, Assaying, QA/QC and Data VerificationDrill core was continuously sampled from inception to termination of the entire drill hole. Sample intervals were typically one meter. Drill core diameter was HQ (6.35 centimeters). Geologic and geotechnical data was captured into a digital database, core was photographed, then one-half split of the core was collected for analysis and one-half was retained in the core library. Drill core samples were kept in a secured logging and storage facility until such time that they were delivered to the Managua facilities of the independent Bureau Veritas laboratory and pulps were sent to the independent Bureau Veritas laboratory in Vancouver for analysis. All RCholes were drilled dry (i.e above the water table and no water or other fluids were injected into the hole). RC drill samples were collected every 1 meter using a center-return hammer and samples were obtained from a Gilson chip splitter which is cleaned using compressed air after each sample. Samples were bagged and labeled at the drill site under a geologist's supervision and are logged on site by a geologist who visually selects potential mineralized intervals for fire assay. The mineralized interval(s) including 3-5 samples above and below, the selected interval are continuously sampled and shipped to the Bureau Veritas Lab in Managua, respecting the best chain of custody practices. Pulps are sent by Bureau Veritas to their laboratory in Vancouver under their chain of custody for analysis. Gold was analyzed by standard fire assay fusion, 30 gr aliquot, AAS finish. Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method. The Company follows industry standards in its quality assurance and quality control procedures. Control samples consisting of duplicates, standards and blanks were inserted into the sample stream at a minimum ratio of 1 control sample per every 10 samples. Analytical results of control samples confirmed reliability of the assay data.Qualified PersonBrian Ray, M.Sc., P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this press release. Mr. Ray is an independent consultant to the Company.On behalf of the Board,Akiba Leisman
Chief Executive OfficerAbout MakoMako 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 and offers district-scale exploration potential. Mako also owns two assets in the US: the Moss Mine in Arizona, an open pit gold mine in northwestern Arizona and the Mt. Hamilton Project, a permitted heap leach project in Nevada. Mako also holds a 100% interest in the PEA-stage Eagle Mountain Project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine permitting activity.For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, E-mail:

Mako Mining Announces Q1 2026 Production Results with Record Production of 13,721 Au oz., Revenue of ~US$69 Million, Debt Free and Cash Position of US$96.1 MillionApril 15, 2026 7:30 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / April 15, 2026 / Mako Mining Corp. (Nasdaq:MAKO)(TSX-V:MKO) ("Mako" or the "Company") is pleased to provide its first quarter 2026 ("Q1 2026") production results for the Company's San Albino gold mine ("San Albino") in northern Nicaragua and the Moss Mine in Arizona ("Moss Mine"), as well as to provide an update on its two advanced development projects in the United States and Guyana. Certain figures in this news release may not sum precisely due to rounding. Unless otherwise indicated, all amounts are expressed in U.S. dollars.Q1 2026 San Albino Operational Highlights50,233 tonnes mined, containing 12,538 ounces ("oz") of gold ("Au") at an average grade of 7.76 grams per tonne ("g/t") Au and 12,460 oz of silver ("Ag") at 7.71 g/t Ag31,033 tonnes mined from diluted vein material containing 10,613 oz Au at 10.64 g/t Au and 10,476 oz Ag at 10.50 g/t Ag19,200 tonnes mined from historical dump and other mineralized material above cutoff grade ("historical dump + other") containing 1,925 oz Au at 3.12 g/t Au and 1,984 oz Ag at 3.21 g/t Ag43.9:1 strip ratio53,638 tonnes milled containing 13,277 oz Au and 13,274 oz Ag grading 7.70 g/t Au and 7.70 g/t Ag55% and 45% from diluted vein and historical dump and other, respectively614tonnes per day ("tpd") milled at 97% availabilityMill recovery of 80.1% for goldAt quarter end, the stockpile was estimated at 124,350 tonnes at an average grade of 2.65 g/t Au for contained Au of 10,558 ozQ1 2026 Mako Financial HighlightsMako total gold sales of 13,721 oz Au for total revenue of $68.6 million in Q1 2026San Albino Mine sales of 10,398 oz Au at $4,901(2) per ounceMoss Mine sales of 3,323 oz Au at $4,912 per ounceDelivered 274 oz Au in connection with gold stream related to the purchase of the Mt. Hamilton ProjectCash balance and trade receivables of $96.1 million as of March 31st, 2026, after a previously accrued 2025 $13.2 million annual tax payable was paid(2) Gold Price before Sailfish Adjustments. For the purpose of calculating revenue, payments to Sailfish are deducted from the Average Realized Price Gold.Akiba Leisman, Chief Executive Officer of Mako states that "Q1 2026 was another very strong quarter for the Company. Gold sales were a record 13,721 ounces at a record average gold price of $4,904 per ounce, generating $68.6 million in revenue for the quarter, which was 36% higher than last quarter, which in turn was the previous record for the Company by over 30%. Cash and trade receivables increased by $18 million after paying a previously accrued $13.2 million annual tax payable. Moss is continuing to ramp-up to steady state production. We expect to access the higher-grade part of the deposit late this year, which is expected to have a further meaningful contribution to the Company's cash flow. The draft Environmental and Social Impact Assessment has been submitted to the Guyana Environmental Protection Agency, and the Company will commence construction at Mt. Hamilton in Nevada over the course of the next few weeks. Mako is currently debt free with a cash position of $96.1 million and generating a significant amount of cash from its 2 operating assets. These financial resources are currently more than sufficient to complete the development of both of the Company's development assets."Table 1 - Operating Results San Albino and Moss Table 1 - Detailed Operating Results for San Albino (Q2 2025 - Q1 2026) * Includes historical dump, hanging wall, footwall, historical muck and all other non-vein mineralized material above cutoff grade.
** Average realized gold price per ounce sold is calculated by dividing total gold revenue by the total gold ounces sold into the spot market and before deductions from Sailfish. For the purpose of calculating revenue, payments to Sailfish are deducted from the Average Realized Price Gold.
(1) Strip Ratio calculation does not include waste material that is capitalizedFor complete details, please refer to the audited consolidated financial statements and the associated management's discussion and analysis for the year ended December 31, 2025, available under the Company's profile on SEDAR+ (www.sedarplus.ca), on EDGAR at www.sec.gov or on the Company's website (www.makominingcorp.com).Non-GAAP MeasuresThe Company has included certain non-GAAP financial measures and non-GAAP ratios in this press release such as Average realized gold price per ounce sold. These non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. In the gold mining industry, these are commonly used performance measures and ratios, but do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's underlying performance of its core operations and its ability to generate cash flow."Average realized gold price per ounce sold" is calculated by dividing total gold revenue by the total gold ounces sold into the spot market before deductions from Sailfish.Table 2 - San Albino Quarter-End Stockpile Statistics Moss MineDuring Q1 2026, the Moss Mine maintained strong safety and environmental performance, completing the quarter with no lost-time injuries and no reportable environmental incidents. Operations remained in compliance with all applicable safety and environmental regulations, underscoring the site's commitment to safe and responsible operations. Operational performance improved compared to the fourth quarter of 2025 ("Q4 2025"). Mining activities were more consistent throughout the quarter, and processing performance improved month over month, with March representing the strongest operating month to date. These improvements were supported by better equipment availability and more stable plant operations. Gold ounces placed on the heap leach pad and gold recovered through processing increased compared to the prior quarter, reflecting improved operational consistency and steady performance across the mining and processing areas.Eagle Mountain Gold ProjectOn March 25, 2026, the Company submitted to the Guyana Environmental Protection Agency ("EPA") the Environmental and Social Impact Assessment ("ESIA"). The ESIA reflects the Project's baseline studies for environmental, social, cultural, engineering, community engagement as well as expected impacts and mitigation measures. Its filing marks a critical step in the regulatory review process in respect of the Environmental Authorization to be issued by the EPA.For the engineering and project design programs, Q1 2026 activities included a continuation of geotechnical drilling using the Company-owned drill rig in the areas planned for mine tailings, waste dumps, and the processing plant. Additional activities included preparations for infill and expansion drilling, focusing on mineralization below the pit outlines defined in the 2024 PEA(1), and drilling to generate samples for follow-up metallurgical tests, with a focus on generating additional hardness data and the associated mill design parameters for the deeper fresh rock mineralization in the Eagle Mountain deposit.(1) The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. For additional information see the NI 43-101 technical report entitled "Preliminary Economic Assessment for the Eagle Mountain Gold Project, Guyana" dated March 1, 2024, with an effective date of January 16, 2024, which is available under Mako's profile at www.sedarplus.ca.Grant of Options and RSUsAs previously reported on April 1,2026, the Company granted an aggregate of 566,800 stock options under the terms of the Company's Omnibus Incentive Plan (the "Plan") to the Company's executive officers and certain other employees and contractors effective April 8, 2026. The option exercise price is C$ 8.80, which was equal to the 5-day VWAP on the TSXV ending on the last trading day prior to the date of the Option grant, with a maturity of 5 years. The vesting schedule will be in four equal annual installments (25%) on the first, second, third and fourth anniversaries of the date of grant.The Company also granted 640,124 restricted share units of the Company under the terms of the Plan to its executive officers and certain other employees and contractors effective April 8, 2026, with a restricted period ending in 2029. The restricted share units will vest one-third annually, based on the date of grant, over 3 years. Finally, the Company also granted 84,198 deferred share units of the Company under the terms of the Plan to its directors.On behalf of the Board,Akiba Leisman
Chief Executive OfficerQualified PersonJohn Rust, a metallurgical engineer and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this press release. Mr. Rust is a senior metallurgist and a consultant to the Company.About MakoMako 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 and offers district-scale exploration potential. Mako also owns two assets in the US: the Moss Mine in Arizona, an open pit gold mine in northwestern Arizona and the Mt. Hamilton Project, a fully permitted heap leach project in Nevada. Mako also holds a 100% interest in the PEA-stage Eagle Mountain Project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine permitting activity.For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 917-558-5289, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR www.sedarplus.ca.Forward-Looking Information: Statements contained herein, other than historical fact, may be considered "forward-looking information" within the meaning of applicable securities laws. The forward-looking information contained herein is based on the Company's plans and expectations and assumptions as of the date such statements forward looking statements include that: expectations stated regarding Q1 2026 production at San Albino and financial highlights for the Company, expected timing for development activities at Eagle Mountain and ramp up activities at the Moss Mine and construction plans at Mt. Hamilton. 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, uncertainty related to mining exploration and development activities and shifts in the timing thereof; political risks and uncertainties involving the Company's mineral properties; the inherent uncertainty of cost estimates and the potential for unexpected costs and expense; commodity price fluctuations and other risks and uncertainties as disclosed in the Company's public disclosure filings on SEDAR+ at www.sedarplus.ca and EDGAR at www,sec,gov. Such information contained herein represents 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 expectations regarding the Company's Q1 2026 production and operating results at San Albino gold project, financial highlights for Q1 2026 and current corporate updates, and may not be appropriate for other purposes. Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.Cautionary Note to U.S. Investors Regarding Mineral DisclosureNI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and resource information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.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.SOURCE: Mako Mining Corp.View the original press release on ACCESS NewswireOriginal: Mako Mining Announces Q1 2026 Production Results with Record Production of 13,721 Au oz., Revenue of ~US$69 Million, Debt Free and Cash Position of US$96.1 Million

Mako Mining Reports Fourth Quarter and Full Year 2025 Financial Results, Including Q4 2025 Adjusted EBITDA (1) of US$28.3 million and EPS of US$0.17/share from 11,564 oz Gold Sold at an Average Realized Price of US$4,313/oz (1)(2), and Corporate UpdateApril 1, 2026 7:00 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / April 1, 2026 / Mako Mining Corp. (TSX-V:MKO)(NASDAQ:MAKO) ("Mako" or the "Company") is pleased to provide financial results for the three months and year ended December 31, 2025 ("Q4 2025"). All dollar amounts referred to herein are expressed in United States dollars unless otherwise stated.The Company's financial results for Q4 2025 reflect record gold sales of $50.4 million, which generated $24.1 million in Mine Operating Cash Flow ("Mine OCF") (1)(3), and $14.3 million in Net Income. The Company sold 11,564 oz of gold at an average realized price (1)(2) of $4,313 per oz with a $1,876 All-In Sustaining Cost ("AISC") ($/oz sold). (1) (2)Q4 2025 HighlightsFinancial$50.4 million in Revenue$28.3 million in Adjusted EBITDA (1)$24.1 million in Mine OCF (1)(3)$14.3 million Net Income$1,572 Cash Costs ($/oz sold) (1)(2)$1,876 AISC ($/oz sold) (1)(2)Full year Return on Equity ("ROE") (1) of 29.6% and Return on Assets ("ROA") of 21.4% (1)Private Placement: On October 28, 2025, the Company completed a brokered private placement for gross proceeds of $28.8 million (C$40.3 million). The Company also completed a concurrent non-brokered private placement to private investment funds managed by Wexford Capital LP ("Wexford") for gross proceeds of $10.7 million (C$15.0 million)Wexford Loan: On October 28, 2025, the Company fully repaid the outstanding balance of its loan from Wexford totaling $6.5 million. The repayment consisted of principal of $6.3 million and accrued interest of $0.2 millionGrowth$2.8 million in exploration and evaluation expenses ($0.7 million in areas surrounding San Albino and $1.6 million for El Jicaro in Nicaragua and approximately $0.5 million at Eagle Mountain, Guyana)Akiba Leisman, CEO of Mako states "Q4 2025 was an exceptionally strong quarter, with 11,564 ounces sold at a record $4,313 gold price, leading to $0.17 per share of EPS, over $28 million in Adjusted EBITDA, with a cash and trade receivable balance of $78 million. Mako generated an industry leading ROE of 29.6%, which is even more impressive given that the two most significant assets the Company has are non-producing. The Company is completely debt free, even after accounting for two significant acquisitions in 2025. Now that the Moss Mine is approaching steady state production, Q1 2026 will be another record quarter for the Company, with more than enough internally funded sources of cash to build the Mt. Hamilton and Eagle Mountain development projects, which will significantly enhance the Company's production and profitability profile."Corporate UpdateSubsequent to December 31, 2025Mt. Hamilton AcquisitionOn March 23, 2026, the Company completed the acquisition of 100% of the registered membership interests of Mt. Hamilton LLC, the owner of the Mt. Hamilton Project in Nevada, USA, from Sailfish Royalty Corp. ("Sailfish"). The consideration payable to Sailfish for the acquisition consists of two gold stream commitments:Initial Stream Term (60 months): The Company will deliver 341.7 ounces of refined gold per month, subject to an adjustment formula ensuring the monthly delivery value is not less than $0.7 million and not more than $1.0 million, equivalent to a gold price range of $2,700/oz to $3,700/oz after adjustmentsAdditional Stream Term (72 months): Following completion of the Initial Stream Term, the Company will deliver 100 ounces of refined gold per month, not subject to any adjustment formulaFor all ounces delivered under both streams, Sailfish will pay the Company 20% of the London PM fixed price for refined gold in United States dollars, as determined by the London Bullion Market Association (or any successor association or body) on date of delivery of such deliverable gold. Further details of the gold stream commitments can be found in the Amended and Restated Gold Purchase Agreement dated February 14, 2026, between the Company and Sailfish, available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.Updated Mineral Resource Estimate for the Moss MineOn March 10, 2026, the Company filed a technical report for the Moss Mine in Arizona, USA (the "Moss Mine Technical Report") titled "NI 43-101 Technical Report for the 2025 Mineral Resource Estimate for the Moss Mine Project, Oatman Mining District, Mohave County, Arizona, USAdatedFebruary 27, 2026.For the full mineral resource estimate, including key assumptions and modifying factors, please see the Moss Mine Technical Report available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.Eagle Mountain ProjectOn March 25, 2026, the Company submitted to the Guyana Environmental Protection Agency ("EPA") the Environmental and Social Impact Assessment ("ESIA") in connection with the Company's Eagle Mountain project. The ESIA reflects the project's baseline studies for environmental, social, cultural, engineering, community engagement as well as expected impacts and mitigation measures. Its filing marks a critical step in the regulatory review process in respect of the environmental authorization to be issued by the Guyana EPA.Options, RSUs and DSUsThe Company intends to grant an aggregate of 566,800 stock options under the terms of the Company's Omnibus Incentive Plan (the "Plan") to the Company's executive officers and certain other employees and contractors. The option exercise price will equal to the 5-day VWAP on the TSXV ending on the last trading day prior to the date of the Option grant, with a maturity of 5 years. The vesting schedule will be in four equal annual installments (25%) on the first, second, third and fourth anniversaries of the date of grant.The Company also intends to grant 640,124 restricted share units of the Company under the terms of the Plan to its executive officers and certain other employees and contractors, with a restricted period ending in 2029. The restricted share units will vest one-third annually over 3 years. Finally, the Company also intends to grant 84,198 deferred share units of the Company under the terms of the Plan to its directors.Table 1 - Operating Data San Albino and Moss Mine Table 2 - Consolidated Revenue Table 3 - EBITDA(1) Reconciliation Chart 1Q4 2025 - Mine OCF(1)()3) Calculation and Cash Reconciliation (in $ million) Chart 22025 - Mine OCF(1)(3) Calculation and Cash Reconciliation (in $ million) End NotesRefers to a Non-GAAP financial measure within the meaning of National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure ("NI 52-112"). Refer to information under the heading "Non-GAAP Measures" as well as the reconciliations in this press release.Refers to a Non-GAAP ratio within the meaning of NI-52-112. Refer to information under the heading "Non-GAAP Measures" later in this press release.Refer to "Chart 1 & 2 - Mine OCF Calculation and Cash Reconciliation (in $ millions)" for a reconciliation of the beginning and ending cash position of the Company, including OCF.Includes repayment of the silver loan to Sailfish in April 2025, the repayment of the Wexford Loan in October 2025 and other lease payments.For complete details, please refer to the audited consolidated financial statements and the associated management's discussion and analysis for the year ended December 31, 2025, available under the Company's profile on SEDAR+ (www.sedarplus.ca), on EDGAR at www.sec.gov or on the Company's website (www.makominingcorp.com).Non-GAAP MeasuresThe Company has included certain non-GAAP financial measures and non-GAAP ratios in this press release such as EBITDA, Adjusted EBITDA, Mine OCF cash cost per ounce sold, cash cost per ounce sold, AISC per ounce sold, ROE, ROA, and Average realized gold price per ounce sold. These non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. In the gold mining industry, these are commonly used performance measures and ratios, but do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's underlying performance of its core operations and its ability to generate cash flow."EBITDA" represents earnings before interest (including non-cash accretion of financial obligation and lease obligations), income taxes and depreciation, depletion and amortization."Adjusted EBITDA" represents EBITDA, adjusted to exclude exploration activities, share-based compensation and change in provision for reclamation and rehabilitation."Cash costs per ounce sold" is calculated by deducting revenues from silver sales and dividing the sum of mining, milling and mine site administration cost."AISC per ounce sold" includes cash costs (as defined above) and adds the sum of G&A, sustaining capital and certain exploration and evaluation ("E&E") costs, sustaining lease payments, provision for environmental fees, if applicable, and rehabilitation costs paid, all divided by the number of ounces sold. As this measure seeks to reflect the full cost of gold production from current operations, capital and E&E costs related to expansion or growth projects are not included in the calculation of AISC per ounce. Additionally, certain other cash expenditures, including income and other tax payments, financing costs and debt repayments, are not included in AISC per ounce."Mine OCF" represents operating cash flow, excluding Nicaraguan taxes and royalties, changes in non-cash working capital and exploration expense"ROE" is calculated by dividing the twelve trailing months Net Income by the average shareholder's equity. The average shareholder's equity is calculated by adding the total equity at the end of the period to the total equity at the beginning of the period and dividing by two."ROA" is calculated by dividing the twelve trailing months Net Income by the average total assets. The average total assets is calculated by adding the total assets at the end of the period to the total assets at the beginning of the period and dividing by two."Average realized gold price per ounce sold" is calculated by dividing total gold revenue by the total gold ounces sold into the spot market.On behalf of the Board,Akiba LeismanChief Executive OfficerAbout MakoMako 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 and offers district-scale exploration potential. Mako also owns two assets in the US: the Moss Mine in Arizona, an open pit gold mine in northwestern Arizona and the Mt. Hamilton Project, a fully permitted heap leach project in Nevada. Mako also holds a 100% interest in the PEA-stage Eagle Mountain Project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine permitting activity.For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 917-558-5289, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR www.sedar.ca.Cautionary Statement Regarding Forward-Looking InformationThis press release contains "forward-looking information" under applicable Canadian securities legislation. Except for statements of historical fact relating to the Company, information contained herein constitutes forward-looking information, including, but not limited to, any information as to the Company's strategy, objectives, plans or future financial or operating performance. Forward-looking statements are characterized by words such as "plan", "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate" and other similar words or negative versions thereof, or statements that certain events or conditions "may", "will", "should", "would" or "could" occur. In particular, forward-looking information included in this press release includes, without limitation, statements with respect to:the Company's streams with Sailfish;expectations in respect of the environmental authorization to be issued by the Guyana EPA in connection with the Eagle Mountain Project; andQ1 2026 expected to be another record quarter for the Company, with more than enough internally funded sources of cash to build the Mt. Hamilton and Eagle Mountain development projects, which will significantly enhance the Company's production and profitability profile; andthe Company's intention to grant stock options, restricted share units and deferred share units under the Plan.Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable on the date the statements are made, and is 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 projected in the forward-looking information. These factors include the Company's dependence on products produced from its key mining assets; fluctuating price of gold; risks relating to the exploration, development and operation of mineral properties, including but not limited to adverse environmental and climatic conditions, unusual and unexpected geologic conditions and equipment failures; risks relating to operating in emerging markets, particularly Nicaragua and South America, including risk of government expropriation or nationalization of mining operations; health, safety and environmental risks and hazards to which the Company's operations are subject; the Company's ability to maintain or increase present level of gold production; access to financing; cost and availability of commodities; increases in costs of production, such as fuel, steel, power, labor and other consumables; risks associated with infectious diseases; uncertainty in the estimation of mineral resources; the Company's ability to replace and expand mineral resources at its mines; factors that may affect the Company's future production estimates, including but not limited to the quality of ore, production costs, infrastructure and availability of workforce and equipment; risks relating to partial ownerships and/or joint ventures at the Company's operations; reliance on the Company's existing infrastructure and supply chains at the Company's operating mines; risks relating to the acquisition, holding and renewal of title to mining rights and permits, and changes to the mining legislative and regulatory regimes in the Company's operating jurisdictions; limitations on insurance coverage; risks relating to illegal and artisanal mining; the Company's compliance with anti-corruption laws; risks relating to the development, construction and start-up of new mines, including but not limited to the availability and performance of contractors and suppliers, the receipt of required governmental approvals and permits, and cost overruns; risks relating to acquisitions and divestures; title disputes or claims; risks relating to the termination of mining rights; risks relating to security and human rights; risks associated with processing and metallurgical recoveries; risks related to enforcing legal rights in foreign jurisdictions; competition in the precious metals mining industry; fluctuating currency exchange rates (including the US Dollar, Nicaraguan cordoba and Guyanese dollar exchange rates); the values of assets and liabilities based on projected future conditions and potential impairment charges; timing and possible outcome of pending and outstanding litigation and any labor disputes; taxation risks; scrutiny from non-governmental organizations; labor and employment relations; risks related to third-party contractor arrangements; repatriation of funds from foreign subsidiaries; community relations; risks related to relying on local advisors and consultants in foreign jurisdictions; the impact of global financial, economic and political conditions, global liquidity, interest rates, inflation and other factors on the Company's results of operations and market price of common shares; risks associated with financial projections; force majeure events; transactions that may result in dilution to common shares; future sales of common shares by existing shareholders; the Company's dependence on key management personnel and executives; possible conflicts of interest of directors and officers of the Company; the reliability of the Company's disclosure and internal controls; compliance with international ESG disclosure standards and best practices; vulnerability of information systems including cyber-attacks; as well as those risk factors discussed or referred to herein and in the Company's management's discussion and analysis and other public disclosure available under the Company's profile at www.sedarplus.ca, and on EDGAR at www.sec.gov.Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company's plans and objectives and may not be appropriate for other purposes.CAUTIONARY NOTE TO U.S. INVESTORS REGARDING MINERAL RESERVE AND MINERAL RESOURCE ESTIMATESNI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and resource information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.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.SOURCE: Mako Mining Corp.View the original press release on ACCESS NewswireOriginal: Mako Mining Reports Fourth Quarter and Full Year 2025 Financial Results, Including Q4 2025 Adjusted EBITDA (1) of US$28.3 million and EPS of US$0.17/share from 11,564 oz Gold Sold at an Average Realized Price of US$4,313/oz (1)(2), and Corporate Update

MAKOF: effective March 8,2023 a one for 10 reverse split:

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