Mr. Akiba Leisman reports

MAKO MINING ANNOUNCES FULL CAPITAL RECOVERY OF MOSS MINE ACQUISITION COST; RESTART OF GOLD MINING ACTIVITIES PLANNED FOR EARLY JULY; COMPANY CASH BALANCE INCREASES TO US$27.4 MILLION

Mako Mining Corp. has fully recovered the $6.4-million (U.S.) acquisition cost for the 100-per-cent-owned Moss mine in Arizona through cash flow derived from residual leaching of previously stacked mineralization and the return of $1.53-million (U.S.) on June 20, 2025, from Trisura Guarantee Insurance Company of the $3.1-million (U.S.) held as collateral for various environmental bonds.

Thus far in Q2 2025, operations have been strong at the company's 100-per-cent-owned San Albino mine in northern Nicaragua, supplemented by the residual leach operations at the Moss mine in Arizona. Mako's current cash and gold sales receivable balance total $27.4-million (U.S.), an increase of $13.8-million (U.S.) since the beginning of the quarter. A full Q2 2025 operational update will be issued during the week of July 14, 2025.

The company engaged a new mine contractor for the Moss mine on June 10, 2025, with initial equipment expected to be delivered to the mine by the end of this week, with mining operations scheduled to commence in early July. Ramp-up of the operation will continue through 2025, with steady-state production expected by the end of Q4 2025.

The cash flow generated from both San Albino and Moss will be used to finance mine and regional exploration at both assets and construction of the Eagle Mountain project in Guyana once initial construction permits are received, which the company anticipates by Q2 2026.

Akiba Leisman, chief executive officer of Mako, stated: "It is extraordinary to fully recover the acquisition cost of a mine in less than three months and prior to the restart of mining operations. This is a testament to how the Moss acquisition was structured, with help from higher gold prices. The operation will begin its ramp-up once equipment arrives to site later this week, with steady-state production expected by year-end. The cash flow from Mako's two producing mines are not only allowing us to embark on significant exploration programs at our producing assets, but the company's cash balance is growing at such a rapid pace that the funding of Eagle Mountain has been significantly derisked."

About Mako Mining Corp.

Mako 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 and offers district-scale exploration potential. Mako also owns the Moss mine in Arizona, an open-pit gold mine in northwestern Arizona. Mako also holds a 100-per-cent interest in the PEA-stage (preliminary economic assessment) Eagle Mountain project in Guyana, South America. Eagle Mountain is the subject of engineering, environmental and mine-permitting activity.

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