Mr. Garett Macdonald reports

MARITIME ANNOUNCES STRATEGIC INVESTMENT BY FIREFLY METALS

Maritime Resources Corp. has completed a non-brokered private placement of 50 million common shares of the company at a price of five cents per common share and 3,648,069 common share purchase warrants to Firefly Metals Ltd. for aggregate gross proceeds of $2.5-million. Each warrant entitles the holder to acquire one common share at a price of five cents per warrant share for 60 months from the date of issuance. Following completion of the offering, Firefly owns approximately 8.4 per cent of the issued and outstanding common shares and approximately 8.95 per cent on a partially diluted basis.

Garett Macdonald, president and chief executive officer of Maritime, commented, "We are pleased to welcome Firefly as an investor in Maritime and look forward to working with management of Firefly to unlock value across the Baie Verte mining district of Newfoundland and Labrador."

The company intends to use the proceeds of the offering for the advancement and development of the company's fully permitted Hammerdown gold project in Newfoundland and Labrador, and for working capital and general corporate purposes. The company has paid SCP Resource Finance LP, in its capacity as financial adviser to the company, a cash fee equal to 3 per cent of the gross proceeds of the offering.

In addition, Maritime has entered into a port access agreement with Firefly, granting port facility access to Firefly at the company's Point Rousse project for the purpose of storing and exporting copper concentrates.

All securities issued pursuant to the offering are subject to a hold period of four months plus a day from the date of issuance, as prescribed by the exchange and the resale rules of applicable securities legislation.

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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