Mr. Akiba Leisman reports

MAKO MINING ANNOUNCES NORMAL COURSE ISSUER BID ACCEPTED BY TSX VENTURE EXCHANGE

The TSX Venture Exchange has accepted Mako Mining Corp.'s normal course issuer bid (the NCIB) to purchase up to an aggregate of 3,290,929 common shares of the company, representing 5 per cent of the 65,818,593 common shares issued and outstanding on the date hereof.

Purchases under the NCIB may be commenced on Nov. 7, 2023, and will end no later than Nov. 6, 2024. The common shares will be purchased for cancellation through the facilities of the TSX-V in accordance with its policies and at market price. Mako has retained PI Financial Corp. to make purchases on its behalf under the NCIB.

The board of directors and senior management of the company believe that the common shares have been trading in a price range that does not adequately reflect their value in relation to the company's business and future business prospects. Accordingly, the company believes that the repurchase of the company's common shares is a prudent use of funds, and in the best interests of Mako and its shareholders.

About Mako Mining Corp.

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. Mako's primary objective is to operate San Albino profitably and finance exploration of prospective targets on its district-scale land package.

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