Mr. Akiba Leisman reports

MAKO MINING INTERSECTS 27.86 G/T AU OVER 4.1 M (ESTIMATED TRUE WIDTH) AT 20 M BELOW SURFACE, AND 197.80 G/T AU OVER 0.7 M (ETW) 345 M DOWN DIP FROM THE EL GOLFO DISCOVERY HOLE

Mako Mining Corp. has released additional results from the 2025 reverse circulation (RC) and diamond drill program at the El Golfo area within the El Jicaro concession, located immediately south of the company's 100-per-cent-owned Las Conchitas and San Albino gold deposits in Nicaragua, which are currently being mined by the company.

For the first time in modern history, drilling has commenced in the El Golfo area. The drill program was initially designed for 3,000 metres (m) of RC drilling. It has since been expanded to 6,500 m of combined RC and diamond drilling in response to encouraging drill results, including the discovery hole EJ25-RC53, which intersected 39.15 grams per tonne (g/t) gold (Au) and 27.9 g/t silver (Ag) over 5.9 m (estimated true width (ETW) of 19.2 m below surface) (see news release dated May 21, 2025).

Highlights:

• EJ25-07:
  • 197.80 g/t Au and 349.0 g/t Ag over 0.70 m (ETW);
• EJ25-RC54:
  • 27.86 g/t Au and 2.1 g/t Ag over 4.00 m (ETW);
• EJ25-14 intersected two mineralized intervals:
  • 8.79 g/t Au and 6.6 g/t Ag over 2.50 m (2.20 m ETW);
  • 37.96 g/t Au and 11.7 g/t Ag over 2.70 m (2.40 m ETW);
• EJ25-RC61:
  • 77.70 g/t Au and 76.0 g/t Ag over 1.00 m (0.90 m ETW);
• EJ25-RC65:
  • 44.10 g/t Au and 45.6 g/t Ag over 1.00 m (ETW);
• EJ25-RC86:
  • 11.61 g/t Au and 26.1 g/t Ag over 4.00 m (3.80 m ETW).

Akiba Leisman, chief executive officer of Mako, states: "We announced the discovery hole at El Golfo in May, where we intersected a shallow intercept of over 39 g/t Au over nearly six metres (estimated true width) and within 20 metres from surface. This hole was only the second hole that was ever drilled at El Golfo and therefore Mako did not have enough information to meet the minimum criteria to declare a discovery at the time. Since May, follow-up holes at El Golfo not only confirm the discovery, but it is starting to define a relatively large footprint that can be measured in hundreds of metres in dip potential with strike trends measured over multiple kilometres. We will be following up on these results with a much more aggressive drill program and, if successful, eventually incorporate the El Golfo area into our mine plan."

The main objective of the 2025 drilling campaign in the El Golfo area is to test the high-grade mineralization trends outlined by geochemical soil surveys, geological mapping, prospecting and limited trenching. Numerous historical workings, including adits, mine dumps and more recent artisanal surface workings (pits), were mapped and sampled. In total, four linear anomalous trends have been outlined, oriented in a northeast-southwest direction. Two of these trends, with lengths over 1,000 metres, appear to be a continuation of the gold geochemical anomalies over one kilometre away at the Las Conchitas area, which is currently being mined by the company.

The initial drilling, comprising 3,000 m of RC drilling, successfully tested a conceptual model for the El Golfo mineralization. This model consists of multiple subparallel gold-bearing quartz veins with a northeast-southwest strike and a gentle northwest dip. The veins are hosted by broadly uniform host rocks, consisting of deformed carbonaceous schists similar to those being mined by Mako. The company has initiated an additional 3,500 m diamond drill program aiming to better define the geometry and extent of mineralization. Further drilling may be needed to confirm the grade and distribution of mineralization.

Drill hole EJ25-RC54 intersected a wide, high-grade interval (refer to table 1) of 27.86 g/t Au and 2.1 g/t Ag over 4.0 m (ETW), 20 m below surface, and confirmed a 21.0 m downdip extension of the gold mineralization intersected by RC drill hole EJ25-RC53 of 39.15 g/t Au and 27.8 g/t Ag over 8.0 m (5.9 m ETW), 19.2 m below surface (see news release dated May 21, 2025). Both drill holes tested a prominent northeast-southwest-oriented structure interpreted as the Pavona vein.

Diamond drill hole EJ25-07 successfully intersected four zones of mineralization highlighted by the lowest zone at 153 m below surface, which graded 197.80 g/t Au and 349.0 g/t Ag over 0.70 m (ETW). This intersection is considered to be significant since it is interpreted to represent a 345 m downdip extension of mineralization intersected by the discovery hole EJ25-RC53 mentioned above. Results justify additional drilling to initiate an assessment of the potential of the mineralized veins in the area.

EJ25-14 intersected two mineralized intervals close to surface, 8.79 g/t Au and 6.6 g/t Ag over 2.50 m (2.2 m ETW), and 37.96 g/t Au and 11.7 g/t Ag over 2.70 m (2.4 m ETW), 7.2 m and 11.6 m below surface, respectively. This hole tested an 18 m southwest strike extension of the high-grade mineralization intersected by the discovery hole EJ25-RC53 and successfully confirmed the conceptual model for this area defined by multiple gold bearing veins close to the surface (refer to table 2).

Both EJ25-RC61 and EJ25-RC62 intersected shallow, high-grade intervals at 78 m and 51 m below surface, respectively. EJ25-RC61 intersected 77.70 g/t Au and 76.0 g/t Ag over 1.00 m (0.9 m ETW) and EJ25-RC62 intersected 17.90 g/t Au and 28.7 g/t Ag over 1.00 m (ETW). These holes successfully tested the potential for additional mineralized structures below previously identified mineralization. Additional drilling is required to test the full potential of this mineralized structure.

Drill hole EJ25-RC65 intersected 44.10 g/t Au and 45.6 g/t Ag over 1.00 m, confirming a 31 m southwest strike extension of the mineralization intersected by EJ25-RC54.

EJ25-RC86 intersected 11.61 g/t Au and 26.1 g/t Ag over 4.00 m (3.8 m ETW) and confirmed a 105 m downdip extension of the mineralization intercepted in EJ25-RC65, described above.

Sampling, assaying, QA/QC (quality assurance and quality control) and data verification

Drill core was continuously sampled from inception to termination of the entire drill hole. Sample intervals were typically one meter. Drill core diameter was HQ (6.35 centimetres). Geologic and geotechnical data were captured into a digital database, core was photographed, then one-half split of the core was collected for analysis and one-half was retained in the core library. Drill core samples were kept in a secured logging and storage facility until such time that they were delivered to the Managua facilities of Bureau Veritas and pulps were sent to the Bureau Veritas laboratory in Vancouver for analysis. All RC holes were drilled dry, above the water table, and no water or other fluids were injected into the hole. RC drill samples were collected every one m using a centre-return hammer and samples were obtained from a Gilson chip splitter, which is cleaned using compressed air after each sample. Samples were bagged and labelled at the drill site under a geologist's supervision, and are logged on site by a geologist who visually selects potential mineralized intervals for fire assay. The mineralized intervals or intervals, including three to five samples above and below the selected interval, are continuously sampled and shipped to the Bureau Veritas Lab (BV) in Managua, respecting the best chain of custody practices. Pulps are sent by Bureau Veritas to its laboratory in Vancouver under its chain of custody for analysis. Gold was analyzed by standard fire assay fusion, 30-gram (g) aliquot, AAS (atomic absorption spectrometer) finish. Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay-gravimetric method. The company follows industry standards in its QA/QC procedures. Control samples consisting of duplicates, standards and blanks were inserted into the sample stream at a minimum ratio of one control sample per every 10 samples. Analytical results of control samples confirmed reliability of the assay data.

Qualified person

Brian Ray, MSc, PGeo, a geologist and qualified person (as defined under National Instrument 43-101), has read and approved the technical information contained in this news release. Mr. Ray is a consultant to the company.

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.

We seek Safe Harbor.