Mako Mining – Q3 Operations Review At San Albino, Exploration Update, Key Development Work At Eagle Mountain, And Potential Acquisition

The KE Report

Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins us to review the Q3 2024 operations metrics at the San Albino Mine in Nicaragua, along with an update of recent exploration results from Las Conchitas, as well as ongoing regional exploration work. In addition we also discuss the move-forward work strategy at the Eagle Mountain Gold Project in Guyana, and the potential for an accretive acquisition transaction.

Q3 2024 Operational Highlights

• 29,749 tonnes mined containing 5,414 ounces ("oz") of gold ("Au") at an average grade of 5.66 grams per tonne ("g/t") Au and 5,557 oz of silver ("Ag") at 5.81 g/t Ag

  • 6,781 tonnes mined containing 2,774 oz Au at 12.72 g/t Au and 2,620 oz Ag at 12.02 g/t Ag from diluted vein material

  • 22,968 tonnes mined containing 2,640 oz Au at 3.57 g/t Au and 2,937 oz Ag at 3.98 g/t Ag from historical dump and other mineralized material above cutoff grade ("historical dump + other")

• 51,865 tonnes milled containing 7,002 oz Au at an average grade of 4.20 g/t Au and 8,479 oz Ag at 5.08 g/t Ag

  • 14% and 86% from diluted vein and historical dump and other, respectively

  • 584tonnes per day ("tpd") milled at 96% availability

  • Mill recovery of 73.4% for gold

• At quarter end, the stockpile was estimated at 135,496 tonnes at an average grade of 2.49 g/t Au for contained Au of 10,849 oz

• 5,142 oz Au recovered and 6,532 oz Au sold during the quarter

• Delivered 40,500 oz of silver as part of the Sailfish Silver Loan for a total of US$ 1.2 million in Q3 2024

Akiba also shares the many regional targets they still have at El Golfo, Potrerillos, and La Segoviana, with the new “El Silencio” targets at La Segoviana getting some ongoing exploration work. There should be more exploration results from both Las Conchitas, and some of these regional targets coming to the market over the next couple of months.

Next Akiba outlines we get a rough timeline for permitting and the key work initiatives at the Eagle Mountain Gold Project in Guyana, recently acquired through the merger with Goldsource Mines. We wrap up with the Company initiative to make another acquisition by year-end, or at the latest Q1 of next year, as another key upcoming catalyst.

If you have any further questions for Akiba regarding Mako Mining, then please email me at [e-mail].

• In full disclosure, Shad is a shareholder of Mako Mining at the time of this recording.

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