Mr. Garett Macdonald reports

MARITIME ANNOUNCES BOARD AND MANAGEMENT CHANGES

All items put before the shareholders of Maritime Resources Corp. at the company's 2023 annual general and special meeting held on Thursday, Nov. 30, 2023, were approved. Immediately following the meeting, effective Nov. 30, 2023, the following director and officer changes occurred to reflect the continued evolution and development of Maritime:

• Mark Ashcroft resigned from the company's board of directors.
• Allen J. Palmiere was appointed to the company's board of directors and will serve as a member of the compensation committee, subject to the approval of, among other things, the TSX Venture Exchange.
• Matthew Goodman was appointed to the company's board of directors and will serve as a member of the audit committee, subject to the approval of, among other things, the TSX-V.
• Lorna D. MacGillivray, LLB, resigned as the company's corporate secretary; the role of corporate secretary will be assumed by Germaine Coombs, who will also remain as chief financial officer.

John Hayes, chairman and director of the company, stated: "The company thanks both Mark and Lorna for their valuable contributions and wishes them both continued success in their future endeavours." Mr. Hayes continued: "I would like to welcome Allen and Matt. We are excited about their deep understanding of our industry and we look forward to working with each of them."

Mr. Palmiere, a CA/CPA by training, has more than 35 years of experience in the mining industry both from a financial and operational perspective. Mr. Palmiere is currently chief executive officer, president and director of Gold Resource Corp. His international experience includes South Africa, Central America, Guyana and Brazil and 10 years of experience in China. Mr. Palmiere's expertise includes operations, executive management and financing, both debt and equity. Additionally, Mr. Palmiere has extensive experience in mergers and acquisitions. Mr. Palmiere's former executive positions include chief executive officer and chairman of the board, Hudbay Minerals Inc.; executive chairman, Barplats Investments Ltd.; vice-president and chief financial officer, Zemex Corp.; and president and chief executive officer, Breakwater Resources Ltd. Mr. Palmiere has also served as a director of numerous public companies.

Mr. Goodman has over 12 years of experience in capital markets and junior mining. Mr. Goodman joined Dundee Corp. in 2013 as a member of Goodman & Co., Investment Counsel, where he was responsible for evaluating strategic resource investment opportunities for Dundee and the Goodman Gold Trust. In September, 2018, Mr. Goodman rejoined Goodman & Co., Investment Counsel, as an associate and, subsequently, as lead portfolio manager of the CMP and DGRC funds. Throughout Mr. Goodman's tenure at Dundee, he has been a part of the corporate development team, overseeing Dundee's most significant on-balance sheet assets. Mr. Goodman's prior background includes in-field mineral exploration and equity capital markets experience. Mr. Goodman is a CFA charterholder and holds an honours bachelor of arts, specializing in global economics and microeconomic analysis, from York University.

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-per-cent interest directly and subject to option agreements entitling it to earn 100-per-cent ownership in the Green Bay property, which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 square kilometres 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. The company also owns the Lac Pelletier gold project in Rouyn-Noranda, Que.

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