Maritime Resources Corp. (TSX-V: MAE) is pleased to provide an update for the Hammerdown Gold Project, located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King’s Point and Springdale.

Highlights:

• Follow up grade control drilling on the Wisteria zone locates additional high-grade mineralization at depth and confirms the folded nature of the mineralized vein system
• 26.1 grams per tonne gold over 3.2 metres in drill hole HDGC-25-280
• 51.2 gpt Au over 0.9 m in drill hole HDGC-25-277
• 4.3 gpt Au over 8.0 m, including 8.2 gpt Au over 3.8 m in drill hole HDGC-25-279
• 1.2 gpt Au over 22.0 m in drill hole HDGC-25-277
• Construction activities resumed at Hammerdown with fire hazard rating now considered low

“It’s encouraging to see that these north-south orientated mineralized trends continue at depth within the proposed footprint of the Hammerdown project. We will be following up with additional drilling as part of a broader exploration program being planned for this fall that will focus on several high priority targets near Hammerdown,” comments Garett Macdonald, President and Chief Executive Officer.

Discussion of Results 

The 2025 definition drilling program at the Hammerdown Project has increased the understanding of the structural controls on gold distribution across the deposit. As highlighted in the Maritime Press Release on June 18, 2025, recent drilling unveiled a distinct change in orientation of high-grade ore shoots that diverges from Hammerdown’s prevailing east-west trend. This newly identified feature exhibits substantial structural disruption caused by localized faulting and folding, marking a departure from the more continuous mineralization found elsewhere in the deposit.

This north-south trending shear zone hosted mineralization prompted a strategic shift in drilling orientation to evaluate an underexplored direction along the deposit’s edge. The presence of cross-cutting structures and deformational features has proven critical in shaping both the high-grade Hammerdown gold veins and the broader Wisteria zone. By investigating this structurally complex zone, the program has enhanced the geological understanding and opened new opportunities for resource growth at depth in the broad Wisteria mineralizing corridor. Upcoming drilling will aim to capture additional mineralization, including near-pit and in-pit ounces that earlier campaigns may have missed that could further unlock the deposit’s potential.

Key intercepts from the current program which entailed 310 m of drilling in four drill holes reinforced this opportunity. Hole HDGC-25-280 was designed to test the depth extension of the high-grade intersection drilled in HDGC-25-274 (Maritime Press Release June 18, 2025), which returned 34.4 gpt Au over 2.5 m within a swarm of mineralized quartz veins. HDGC-25-280 intersected 26.1 gpt Au over 3.2 m confirming the high-grade extension of the zone at depth. Hole HDGC-25-277 was designed to intersect below drill hole HDGC-25-273 (Maritime Press Release June 18, 2025), and returned 51.2 gpt Au across 0.9 m in addition to encountering 1.2 gpt Au over 22 m in Wisteria-style disseminated mineralization. Meanwhile, drill hole HDGC-25-279 targeted the western limb of the Wisteria zone, yielding broad intervals of quartz veining and disseminated mineralization with results of 4.3 gpt Au over 8.0 m and 1.9 gpt Au over 3.5 m. HDGC-25-278 planned to test the Wisteria zone encountered a heavy fault gouge at 41 m and was abandoned due to technical issues.

Figure 1. Photo HDGC-25-277 highlighting 51.2 gpt over 0.9 m from 45.0 m to 45.9 m core interval

 Figure 2. Hammerdown Site Plan Map

Figure 3. Cross Section 

Table 1. Assay results

Table 2. Drill hole details

Qualified Person

Exploration activities at the Hammerdown Gold Project are administered on site by the Company’s Exploration Manager, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this press release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.

Analytical Procedures

All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (EAL) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime. Drill core samples are collected from NQ sized diamond drill core and sawn in half. The half core samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.

About Maritime Resources Corp.

Maritime is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 km² of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit.