Mr. Doug Fulcher of Maritime reports

MARITIME AND RAMBLER SIGN LETTER OF INTENT FOR A TOLL MILLING AGREEMENT TO PROCESS ORE AT THE NUGGET POND MILL FROM THE PAST PRODUCING HAMMERDOWN MINE

Maritime Resources Corp. has entered into a non-binding letter of intent with Rambler Metals and Mining Canada Ltd., a subsidiary of Rambler Metals and Mining PLC, for a toll milling agreement to process ore from the past-producing Hammerdown gold mine at Rambler's idle Nugget Pond carbon-in-pulp (CIP) circuit.

Maritime and Rambler will work closely together to determine the most effective way to optimize the Nugget Pond grinding circuit to process Rambler's Ming mine copper ore through its copper flotation circuit and Maritime's Hammerdown gold ore through the CIP gold circuit separately. Engineering studies and a review of capital cost are scheduled to support finalizing a binding agreement.

Maritime has had a close working relationship with Rambler for the past several years. In November, 2014, the companies signed a letter of intent (see news release dated Nov. 17, 2014) to evaluate the potential of reopening the Hammerdown mine. As well in May, 2016, signed an engineering, evaluation and services agreement (see news release dated May 9, 2016) where the companies worked together and appointed an independent qualified third party consultant to prepare and complete a prefeasibility study which was completed in April, 2017.

During this optimization and the engineering studies, Maritime will continue to advance the Hammerdown project with dewatering the mine, drilling the inferred resource near the existing mine plan (which contains approximately 400,000 ounces of gold) and evaluating open-pit opportunities to include the J, K and L veins where drilling was completed last winter.

Exploration potential at Green Bay is also substantial in three areas: the Rumbullion vein system, which extends for 800 metres to the northeast of the current mine plan; the Hammerdown offset fault extension, which is projected at approximately 500-metre depth on the southwest side of the historical mining operations and underground workings; and the open Orion vein system/resource, which lies approximately 1,500 metres to the southwest of Hammerdown and has only been drilled to a depth of 300 metres.

Doug Fulcher, president and chief executive officer of Maritime, commented: "We are very pleased to have entered into this LOI with Rambler. The toll milling option at the permitted Nugget Pond gold mill, where Hammerdown ore was previously processed averaging over-97-per-cent recoveries, would allow for the project to be fast-tracked to production following a positive production decision by Maritime. Rambler's presence and operational expertise in Newfoundland is a huge asset to Maritime as we move the Hammerdown project forward."

Norman Williams, president and chief executive officer of Rambler Metals and Mining, commented: "As we continue to ramp up the Ming mine ore production to a sustained production of 1,250 dry metric tonnes per day at the Nugget Pond copper flotation plant, we remain supportive of possible toll milling opportunities with Maritime through our idle gold plant at Nugget Pond. This LOI is a step forward and supports Maritime in its further engineering studies as it targets a move towards production."

About Maritime Resources Corp.

Maritime Resources holds 100 per cent of the Green Bay property, located near Springdale, Nfld. The property hosts the past-producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5-kilometre distance that sits within an overall strike length of 4,000 metres. As well, the Lochinvar base metal/precious metal deposit sits to the north end of the Rumbullion vein system.

Bernard H. Kahlert, PEng, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this release.

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