Mako Mining Corp. (TSX-V: MKO) (OTCQX: MAKOF) is pleased to report grade and tonnage results from mining of the second full bench of the San Albino vein at its San Albino gold project in northern Nicaragua.  The bench mined consisted of two separate three-meter half benches between 610 and 604  meters above sea level and contained 1,532 ounces Au and 2,569 ounces Ag within 2,467 tonnes of diluted vein material grading 19.32 g/t Au and 32.4 g/t Ag.  

The 2,467 tonnes of diluted vein material are now sitting in a high-grade stockpile awaiting processing in addition to the 2,654 tonnes from the first full bench (see press release dated September 17, 2020).  An additional 12,840 tonnes of historical dump material grading 2.35 g/t Au was also mined from Bench 604.  This stockpiled historical dump material is expected to be used as initial mill feed during the ramp up to commercial production, which is expected from January 2021 to early Q2 2021.

A total of 5,121 tonnes of diluted vein material has been mined to date from benches 610 and 604 at a grade of 15.39 g/t Au and 24.8 g/t Ag containing 2,534 ounces Au and 4,080 ounces Ag.  This compares to 6,117 tonnes at a grade of 13.52 g/t Au and 18.7 g/t Ag containing 2,659 ounces Au and 3,678 ounces Ag over the same two benches modeled in the updated mineral resource estimate prepared by Mine Development Associates (“MDA”), a division of RESPEC, out of Reno, Nevada, which was summarized in the Company’s press release dated October 19, 2020.

Akiba Leisman, Chief Executive Officer of Mako states that, “the grades encountered in Bench 604 are extraordinary for any gold mining project, and especially for an open pit project like San Albino.  While it is still early days of mining at San Albino, MDA’s model from the recently updated mineral resource estimate is holding up very well.  It was previously stated that due to MDA’s conservative modelling, and Mako’s experience with selective open pit mining techniques, management expects that the fully diluted open pit grade of 9.54 g/t Au in the Measured and Indicated categories can be met or exceeded when mined, which is being supported by mining to date.  Lastly, I would like to address Hurricane Eta, which descended on Central America last week at Category 4 strength.  Thanks to proper planning and a significant investment in water management systems, we are relieved to report that there was no damage to San Albino, that all operations are back to normal and that a first gold pour is still expected in January 2021.  Our thoughts and prayers are with the communities in Nicaragua and throughout Central America affected by Hurricane Eta.”

*Total Tonnes are estimated by subtracting laser survey scans of the topography before and after mining the bench.

**Total Tonnes Mined are estimated by subtracting laser survey scans of the topography before and after mining the bench.  The Total Tonnes Mined is a combination of diluted vein material, historical dump material, low-grade material and waste, which are each segregated into different areas.

Sampling, Assaying, QA/QC and Grade Estimation

Vertical channel samples respecting the geology were collected on 5-meter sections at approximately 4-meter spacing using a gas-powered rock saw where the vein is competent, or a rock hammer where the rock is strongly fractured or brecciated.  Special attention is applied to standardize the width and volume of material taken using the rock hammer or rock saw.  The coordinates of the channel samples are surveyed using a total station surveying device.

Samples were kept in a secured logging and storage facility until such time that they were delivered to the Managua facilities of Bureau Veritas, an independent assay lab, for sample preparation.  Pulps were sent to the Bureau Veritas laboratory in Vancouver for analysis.  Gold was analyzed by standard fire assay fusion, 30-gram aliquot, AAS finish.  Samples returning over 10.0 g/t Au 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 ratio of 1 control sample per every 3 to 4 samples.  Analytical results of control samples confirmed reliability of the assay data.

The grade of the San Albino vein, low-grade and historical dump material were estimated using the inverse distance cubed method from 1-meter composite intervals respecting the geologic boundaries.  Samples were capped prior to compositing at 100 g/t Au in the San Albino vein, 7.0 g/t Au in the San Albino footwall, 4 g/t Au in the San Albino hanging wall and 7.0 g/t Au in the Dump Material.  Capping values were based an analysis of previous diamond drilling results.  The diluted grade of the San Albino vein was estimated using 3-D models of surveyed vein boundaries and surveyed mined surfaces.

Qualified Person

Steven Ristorcelli, CPG, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this press release. Mr. Ristorcelli is the Principal Geologist at Mine Development Associates in Reno, Nevada working on the updated resource estimate for San Albino.  Mr. Ristorcelli was at site in February 2020, but has not been able to visit the site to personally review the ongoing grade control program; however, he has reviewed the data from original certificates, QA/QC data, photographs of the geology, mapping and the grade-control model.

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako’s primary objective is to bring San Albino into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.