Mako Mining Appoints New Director

Vancouver, British Columbia – Mako Mining Corp. (TSX-V: MKO; OTCQB: MAKOF) (“Mako” or the “Company”) announces that its Board of Directors (the “Board”) has appointed Mr. Mario Caron as a director of the Company, replacing Mr. Cesar Gonzalez who has stepped down from his role as a director of the Company but shall remain as Vice President, Corporate Development of the Company.

Akiba Leisman, CEO of Mako states that “the appointment of Mario to replace Cesar on the board is the first step of many that the Company will be taking over the next few months to update its corporate governance to align with current best practices  , including increasing independence on the Board, with a view to ultimately listing on a major exchange when it is prudent to do so.   Mario brings a wealth of technical experience and he will also be serving as Chair of Mako’s technical committee, joining myself and fellow Mako director Dr. Rael Lipson, former Chief Geologist for Gold Fields Exploration, Inc., a part of Goldfields Ltd.  I would like to thank Cesar for serving on the Board, and confirm that his role as VP of Corporate Development will continue unabated.”

Mr. Mario Caron is a mining executive with over 40 years of wide-ranging experience in the mining industry in senior executive and board positions.  He has international experience in both underground and open pit operations.

Mr. Caron is currently Chairman of Alloycorp Mining Inc., a private company which is advancing a molybdenum deposit in British Columbia; acting CEO and a director of New Millenium Iron Corp.; the lead director of Falco Resources Ltd.; and a director of Quebec Precious Metals Corporation.

From November 2011 to July 2013, he served as Chief Executive Officer and a director of Aldridge Minerals Inc., developing a polymetallic Volcanogenic massive sulfide deposit in Turkey. Previously, Mr. Caron served as Chief Executive Officer and a director of Axmin Inc., a company with a gold project in Central African Republic, and Tiberon Minerals Ltd., a developer of a tungsten/fluorspar mine in Vietnam.

Mr. Caron is a member of the Québec Order of Engineers and the Association of Professional Engineers of Ontario.

Concurrent with his appointment, the Company’s Board has authorized and approved the grant of 100,000 incentive stock options to Mr. Caron under the Company’s incentive stock option plan.

The Board has also authorized and approved the grant of 100,000 incentive stock options to director John Stevens under the Company’s incentive stock option plan, related to Mr. Steven’s joining the Board in December of 2019.

The stock options granted to each of Mr. Caron and Mr. Stevens have an exercise price of Cdn $0.425 per share, based on the closing price of the Company’s common shares on the TSX Venture Exchange on the date prior to grant, and an expiry date of June 5, 2025.   These options will vest as to 25% immediately upon grant, and 25% on each anniversary thereof, in accordance with the incentive stock option plan of the Company.

On behalf of the Board,

Akiba Leisman

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