Mr. Matthew Hornor reports

MAPLE GOLD FILES NI-43-101 RESOURCE REPORT AND PROVIDES EXPLORATION AND CORPORATE UPDATES

Maple Gold Mines Ltd. has filed a National Instrument 43-101 technical report for the new mineral resource estimate on the company's Douay gold project, as prepared by Roscoe Postle Associates Inc. (RPA). The technical report is available for review on SEDAR and on the company's website. The results of the new estimate were originally presented in a news release dated Oct. 24, 2019, which is also available on SEDAR and the company's website.

Exploration update

Maple Gold is in final preparations for an induced polarization (IP) survey that, following the corresponding line cutting, will begin with about 13 line kilometres located approximately six km northeast of the Douay deposit's 531 zone. In April, 2019, the company completed 11 broadly spaced (400 metres) IP lines in the same area with the aim of identifying new exploration and discovery targets. Several chargeability anomalies were defined in the previous IP survey, including a broad anomaly about three km long within the same package of rocks that hosts the Vezza mine. Nottaway Resources Inc. concluded production at Vezza earlier this year, with total production plus resources estimated at approximately 0.4 M ounces, averaging about six grams per tonne gold from a mineralized body, measuring approximately 450 metres along strike, extending to about a 750-metre depth, and one to 10 metres in width. Maple Gold believes there is good potential for one or more of these higher-grade Vezza-type lenses of gold mineralization to exist within the broader three-kilometre target area.

Disclosure note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the company's property.

The company's planned IP work will include tighter (infill equals 200 m) line spacing covering the area of the northern IP target, to allow selection of drill discovery areas corresponding to possible new Vezza-style mineralized bodies, in advance of the 2020 winter drill season. Line cutting is expected to begin shortly, with IP surveying starting at the northeast IP target early in the new year.

Permits for 531 zone drilling are expected in the next few days, and final preparations are also under way for additional permit requests elsewhere on the property, mostly within the resource area. Drilling will begin in early 2020 at the 531 zone with the deepening of DO-19-262, where the company reported a 51-metre intercept averaging 2.88 g/t Au ending only three m from the bottom of the hole. Two additional proof-of-concept stepout drill holes are planned to the south and southeast to begin testing a new structural interpretation at the 531 zone (please refer to press releases dated Oct. 9 and June 5, 2019, for more details).

Maple Gold's vice-president, exploration, Fred Speidel, stated: "The potential for discovering additional higher-grade lenses of gold remains excellent at Douay. The IP anomaly we have defined NE of the resource area is encouraging, and while this is earlier-stage exploration work, the game-changing potential that would come with the discovery of a new Vezza-like deposit on our property certainly justifies taking some new discovery shots during our upcoming winter drill campaign."

Corporate updates:

• As of Nov. 15, 2019, the company's fully diluted share structure was reduced by approximately 15 per cent with the expiry of 42,015,222 warrants. A further 399,998 warrants expired on Dec. 1, 2019.
• Maple Gold anticipates receiving a tax refund for approximately $400,000 in first quarter 2020 from Revenu Quebec for exploration expenditures incurred during 2018.
• One of the company's technical advisers, David Broughton, is stepping down from the board of directors but will remain on the technical advisory committee to focus his available time for contributions at the project level.

Maple Gold's president and chief executive officer, Matthew Hornor, commented: "We are excited about the new discovery potential NE of the resource area and believe it is prudent to get this work under way now to allow time for data interpretation and additional drill-site permitting this winter. The drill targets at the 531 zone are ready to go, expanding on the tremendous success we had with the drill bit earlier this year. The company remains in a solid financial position with flow-through and hard dollars in the treasury and additional capital from tax refunds expected in first quarter. I'd like to also thank David for his time as a director, and we are pleased to have his continued support as an adviser going forward."

Qualified person

The scientific and technical data contained in this press release were reviewed and prepared under the supervision of Fred Speidel, MSc, PGeo, vice-president, exploration, of Maple Gold. Mr. Speidel is a qualified person under National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.

About Maple Gold Mines Ltd.

Maple Gold is an advanced gold exploration and development company, focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The company's approximately 355-square-kilometre Douay gold project is located along the Casa Berardi deformation zone (55 kilometres of strike) within the prolific Abitibi greenstone belt in Northern Quebec, Canada. The project benefits from excellent infrastructure and has an established gold resource that remains open in multiple directions.

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