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Mako declares commercial production at one of the highest-grade open pit gold mines globally

Tuesday July 13, 2021

- Mako Mining (TSX-V: MKO; OTCQX: MAKOF) announced today that effective July 1, 2021, the company declared commercial production at its San Albino gold mine in northern Nicaragua.The company said that all components of the 500 tonne per day gravity and carbon-in-leach processing plant have been fully operational since the beginning of May 2021. Since May 12th, the plant has been exclusively processing high-grade diluted vein material with an average grade of 12.52 g/t gold and recovering an average of 96.3%.The stockpile is now approximately 116,748 tonnes and is comprised of 10,354 tonnes of diluted vein material at 11.41 g/t gold and 106,394 tonnes of historical dump and other mineralized material at 2.49 g/t gold for a total of 12,327 ounces of gold.

The company added that since May 12th, 6,300 ounces of gold have been recovered and 3,506 ounces of gold have been shipped. The company's cash balance has materially improved since the start of May and commencement of debt repayment, in addition to the ongoing funding of exploration expenditures, is expected later this month.CEO Akiba Leisman stated, "This operating update highlights the extraordinary grades being mined and processed at San Albino even prior to reaching commercial production.  Now that we have declared commercial production and have started mining at the Porcelana Zone, a zone with the highest grade-thickness profile encountered at San Albino, we expect to continue delivering similar operating results to those released today."Mako Mining 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.