Mr. Kiran Patankar reports

MAPLE GOLD COMMENCES 30,000-METER PHASE II DRILL PROGRAM AT THE DOUAY/JOUTEL GOLD PROJECT, QUEBEC AND ISSUES EQUITY INCENTIVE GRANTS

Maple Gold Mines Ltd. has commenced a fully financed 30,000-metre diamond drill program on its 100-per-cent-owned Douay gold project and Joutel gold project, located along the Casa Berardi-Douay gold trend in Quebec, Canada. The program will include:

1. 20,000 metres of phase II drilling at Douay to follow up on recent stepout success at the Nika and 531 zones and continue testing significant extensions of higher-grade gold mineralization well below the current Douay mineral resource estimate (MRE) and conceptual pit shells;
2. 10,000 metres of drilling at Joutel to extend the known high-grade gold mineralization along the entire past-producing Eagle-Telbel mine trend.

This $10-million program, utilizing four drill rigs, represents the largest expansionary drill campaign in the property's history and builds on the successful 12,240-metre phase I Douay program completed in the first half of 2025. With a strong cash position of approximately $20.5-million, Maple Gold is well positioned to advance the exceptional district-scale gold potential at Douay/Joutel.

"As a result of our exploration success earlier this year and the execution of our reset strategy, we raised $18-million from new and existing long-term shareholders to support an aggressive drill program focused on resource growth and new discovery potential across the property," stated Kiran Patankar, president and chief executive officer of Maple Gold. "We have always wanted to push harder at Douay/Joutel, and we are now in a position to complete the largest drill program in Maple Gold's history. This next phase of drilling will continue to systematically test down-plunge extensions (up to 1,000 metres vertical depth) of higher-grade gold mineralization within the Douay MRE area, begin to test 55 kilometres of underexplored strike length along the Casa Berardi-Douay gold trend, and advance near-deposit and regional targets at Joutel. Over the next 12 months, our fully funded, multiphase growth plan is designed to achieve key resource expansion, discovery and development milestones that drive shareholder value."

2025 year-to-date exploration and corporate highlights:

• Exploration success: The company executed a 21-hole, 12,240-metre winter drill campaign that intersected gold mineralization in every hole (see news releases dated April 3 and July 15, 2025), expanding higher-grade gold zones at both the Nika and 531 zones and demonstrating potential for bulk-tonnage underground resources beneath the 2022 modelled resource pits. Both the Nika and 531 zones remain open for expansion in all directions:
  • Nika zone:
    • 3.05 grams per tonne gold over 55.8 m, including 4.93 g/t Au over 17 m, within a broader zone 2.05 g/t Au over 108.6 m, in DDH DO-25-338, a 300-metre down-plunge stepout from DDH DO-21-282X and the bottom of the 2022 modelled pit;
    • 2.93 g/t Au over 20 m, including 5.54 g/t Au over seven m, within a broader zone of 1.26 g/t Au over 60 m, in DDH DO-25-54Ext, a 30-metre offset to DO-25-338;
  • 531 zone:
    • 3.00 g/t Au over 10.8 m, including 4.51 g/t Au over five m, in DDH DO-25-349;
    • 4.87 g/t Au over 15 m, including 11.25 g/t Au over five m, in DDH DO-25-351;
    • 1.96 g/t Au over 20.8 m, including 2.54 g/t Au over 12 m, and 3.66 g/t Au over 11.4 m, including 11.04 g/t Au over 2.9 m, within a broader zone of 1.41 g/t Au over 49.5 m, in DDH DO-25-352.
• Capital markets momentum: The company closed an oversubscribed $5-million non-brokered private placement with a concurrent 1:10 share consolidation and board refresh (see news release dated Sept. 9, 2025) and an upsized $13-million brokered LIFE (listed issuer financing exemption) offering (see news release dated Oct. 23, 2025). The shareholder base was strengthened with the addition of leading strategic and institutional investors and continued support from the company's largest shareholder.
• Technical advancements: The company completed geological remodelling at Douay/Joutel, integrating all lithological, alteration, geochemical and geophysical data to identify gold mineralization controls and utilizing oriented-core data to refine a new structural interpretation on higher-grade gold.
• Regional discovery: Spring 2025 sonic drilling and summer 2025 fieldwork both generated promising anomalies warranting follow-up. Sonic drilling (730 m across 27 holes) defined a new Douay-style target located two kilometres northeast of the current Douay MRE with 0.92 g/t Au in bedrock while fieldwork returned anomalous gold-in-soil results.
• Project derisking: The company initiated a Douay MRE update and a maiden Joutel MRE with SLR Consulting (Canada) Ltd., alongside preliminary engineering and trade-off studies with Ausenco Engineering Canada ULC, with anticipated completion in H1 2026.

Planned exploration activities

The company has planned an aggressive fall/winter 2025/2026 drill campaign to build on its successful H1 2025 drill program, which improved the understanding of key gold mineralization controls at Douay, including:

• Primary structural controls: the large regional, deep-seated, mantle-tapping Casa Berardi deformation zone and the key secondary splay, the Douay deformation zone; and a moderate southeast plunge for high-grade gold shoots determined by the intersection line of east-southeast earlier shears with east-northeast later brittle fractures;
• Favourable host rocks: the alkaline Douay intrusive complex, characterized by a widespread fenitization aureole and cut by multiple ages of mafic to felsic diking, lamprophyres and carbonatites, and permissive iron-tholeiitic mafic volcanic stratigraphy;
• Ground preparation: a progressive sequence of fenitization, hematization, albitization and pyritization, accompanied by moderate to strong brecciation, followed by one or more gold mineralizing events.

The program will test high-priority property-wide targets allocated as follows:

• Douay (20,000 metres):
  • Nika zone -- 12,000 m:
    • Includes up- and down-plunge stepouts to phase I hole DO-25-338 and tests of both the newly modelled, moderately steep southeast-trending primary plunge and a shallower west-trending secondary plunge;
  • 531 zone -- 6,000 m:
    • Includes up- and down-plunge tests of both moderately steep southeast-trending and shallower west-trending plunges with 50-to-100-metre stepouts to hole DO-21-310 (8.8 g/t Au over 28.5 m; see news release dated Sept. 9, 2021) and phase I holes DO-25-351 and DO-25-352;
  • Douay West zone -- 1,000 m:
    • Focused on defining the high-grade, shallow west-trending plunge;
  • Porphyry West zone -- 1,000 m:
    • Focused on defining the high-grade, steep south-southeast-trending plunge.
• Joutel (10,000 m): A new Joutel drill program is designed to test shallow structural targets along the main iron carbonate horizon (MICH) at the historical Joutel mine complex, host to the past-producing Eagle, Eagle West and Telbel mines (combined production of 1.1 million ounces of gold at an average grade of 6.5 g/t Au between 1974 and 1993). Drill targets will include:
  • Telbel zone -- 4,500 m:
    • Targeting high-grade mineralization near the existing Telbel underground workings and up-plunge and along strike targets up to 900 m from the workings;
  • Between Eagle and Telbel (between the dikes) -- 2,500 m:
    • Testing primary and secondary high-grade plunges along the MICH in the historically underexplored area between Eagle and Telbel shafts;
  • Eagle zone -- 2,000 m:
    • Targeting existing unmined shallow mineralization within the MICH along strike from the Eagle shaft;
  • Regional -- 1,000 m:
    • Testing regional magnetic and electromagnetic targets along strike.

Spring/summer 2025 exploration results

Positive results from a 27-hole, 730-metre sonic drilling program completed in the spring of 2025 identified a new Douay-style target over a 1,000-metre-by-1,500-metre area located two kilometres northeast of the Douay MRE area. The sonic drill program successfully cored iron-magnesium carbonate/potassium-feldspar/magnetite-plus-or-minus-hematite-altered syenite, feldspathized sediments with local fluorite and intermediate volcaniclastic rocks returning up to 0.92 g/t Au in bedrock. Follow-up drilling is planned as part of the program.

Results from the summer 2025 field exploration program on the mid-western portion of Douay were also encouraging, with anomalous gold-in-soil results returning up to 34 parts per billion. Infill sampling will be carried out as part of a planned summer 2026 program.

Project derisking steps

An updated MRE and a new National Instrument 43-101 technical report for Douay/Joutel, prepared by SLR Consulting (Canada) Ltd., are expected in H1 2026.

Internal project scoping and engineering and studies for Douay, led by Ausenco Engineering Canada, are continuing and expected to be completed in parallel with the updated MRE. Current work is focused on a gap analysis of the existing technical data, mining trade-off studies (open-pit versus underground mining scenarios), processing trade-off studies (whole ore leach versus gravity/flotation/cyanidation flow sheets), infrastructure trade-off studies (on-site milling versus custom toll milling), and preliminary cash flow modelling.

Equity incentive grants

Maple Gold's board of directors has approved the grant of stock options to certain employees, officers, directors and consultants to purchase an aggregate of 1,975,000 common shares of the company, with an exercise price of $1.38 per common share. The options will vest in three equal tranches over a 24-month period. Once vested, each option is exercisable into one common share for a period of five years from the date of the grant.

Qualified person

Ian Cunningham-Dunlop, PEng (PEO/EGBC/OGQ), vice-president, technical services of Maple Gold, has reviewed and approved the scientific and technical information related to exploration and mineral resource matters contained in this news release. Mr. Cunningham-Dunlop is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

Quality assurance and quality control

The company implements strict quality assurance and quality control protocols at the Douay gold project covering the planning and placing of sonic drill holes in the field, drilling and retrieving the soil, till and bedrock core samples, drill hole surveying, core transport, core logging by qualified personnel, sampling and bagging of core for analysis, and the transport of core samples from site to commercial laboratories for analysis.

About the Douay/Joutel gold project

The Douay/Joutel gold project is located adjacent to Highway 109 in the heart of Quebec's Abitibi greenstone belt, Canada's premier gold mining jurisdiction. This large, 100-per-cent-owned land package includes the company's flagship Douay gold project, which hosts an established mineral resource containing 511,000 ounces of gold (indicated) and 2.53 million ounces of gold (inferred), as well as the past-producing, high-grade Joutel mine complex. The property contains approximately 481 square kilometres of highly prospective geology within the influence of the major gold-bearing Casa Berardi deformation zone. Gold mines in the immediate region include the Casa Berardi gold mine operated by Hecla Mining Company and the Detour Lake gold mine operated by Agnico Eagle Mines Ltd.

About Maple Gold Mines Ltd.

Maple Gold Mines is a well-financed Canadian advanced exploration company focused on advancing its 100-per-cent-owned, district-scale Douay/Joutel gold project located in Quebec's prolific Abitibi greenstone gold belt. Douay/Joutel benefits from exceptional infrastructure access and boasts approximately 481 square kilometres of highly prospective ground, including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the company holds an exclusive option to acquire 100 per cent of the Eagle mine property, a key part of the historical Joutel mining complex.

Maple Gold's property package also hosts a significant number of regional exploration targets along a 55-kilometre strike length of the Casa Berardi deformation zone that have yet to be tested through drilling, making the property ripe for new gold and VMS (volcanogenic massive sulphide) discoveries. The company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi.

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