Maple Gold Mines Ltd. (TSX-V: MGM) is pleased to announce that further to its news releases on November 4, 2024 and November 14, 2024, the Company has now closed its previously announced concurrent private placement offering, pursuant to which the Company has issued an additional 9,773,154 non-flow-through units of the Company at a price of $0.065 per NFT Unit for additional gross proceeds to the Company of approximately $635,255. The aggregate gross proceeds raised by the Company pursuant to the fully subscribed offering of NFT Units and flow-through common shares of the Company that closed on November 14, 2024 and the Concurrent Private Placement is now approximately $5,635,255. The Company completed the Concurrent Private Placement due to strong demand for the LIFE Offering and to allow for participation from certain insiders of the Company. The Offering was led by Beacon Securities Limited as sole lead agent and bookrunner, on behalf of a syndicate of agents, including Agentis Capital Markets Limited Partnership and Paradigm Capital Inc.

“We are grateful for the support of our new and existing shareholders and institutional funds in our recent financing efforts,” stated Kiran Patankar, President and CEO of Maple Gold. “The Company is heading into the winter exploration season with an even healthier treasury to support aggressive resource expansion and de-risking of our multi-million-ounce Douay gold project, systematic testing of our past-producing, high-grade Joutel gold project, and the potential to make new discoveries across our under-explored Québec property portfolio.”

Each NFT Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company. Each Warrant entitles the holder thereof to acquire one non-flow-through common share of the Company at a price per Warrant Share of $0.10 until November 14, 2027.

The NFT Units were offered pursuant to relevant prospectus or registration exemptions of National Instrument 45-106 – Prospectus Exemptions to purchasers resident in Canada, and in other qualifying jurisdictions outside of Canada that were mutually agreed to by the Company and Beacon pursuant to relevant prospectus or registration exemptions in accordance with applicable laws. The NFT Units issued under the Concurrent Private Placement are subject to a four month hold period in Canada expiring on March 20, 2025.

The Company intends to use the net proceeds from the sale of securities under the Offering for exploration work on the Company’s projects in Québec and for general and administrative expenses and unallocated working capital purposes over a period of 12 months following closing of the Offering.

In connection with the Concurrent Private Placement, the Company intends to: (i) pay a corporate finance fee to the Agents equal to $14,342.10; and (ii) issue a total of 220,647 non-transferable compensation warrants of the Company to the Agents. Each Compensation Warrant entitles the holder to acquire one common share of the Company at a price of $0.065 per Compensation Share until November 19, 2027. The Offering remains subject to final acceptance of the TSX Venture Exchange.

Certain officers and directors of the Company participated in the Concurrent Private Placement, acquiring an aggregate of 1,649,000 NFT Units. Participation by such insiders constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company’s market capitalization.

The securities issued pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km² of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining complex.

The district-scale property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.