Mako Mining Corp. provided fourth quarter 2022 (Q4 2022) production results from its San Albino gold mine (“San Albino”) in northern Nicaragua, which is the sixth full quarter of production results since declaring commercial production on July 1, 2021. Financial results for Fourth Quarter 2022, including detailed reporting of operating costs, are expected to be released in April.

Fourth Quarter 2022 Production Highlights: 50,893 tonnes mined containing 9,990 ounces of gold (“oz Au”) at a blended grade of 6.11grams per tonne gold (“g/t Au”) and 16,692 ounces of silver (“oz Ag”) at a grade of 10.20 grams per tonne silver (“g/t Ag”); 23,103 tonnes mined containing 7,543 oz Au at 10.15 g/t Au and 10,768 oz Ag at 14.50 g/t Ag from diluted vein material; 27,790 tonnes mined containing 2,447 oz Au at 2.74 g/t Au and 5,924 oz Ag at 6.63 g/t Ag from historical dump and other mineralized material above cutoff grade (historical dump + other); 28.8:1 strip ratio overall which includes accelerated waste development of the West and the Central Pit (“Arras Zone”); 49,204 tonnes milled containing 11,937 oz Au at a blended grade of 7.55 g/t Au and 18,408 oz Ag at 11.64 g/t Ag; 57% and 43% from diluted vein and historical dump and other, respectively; 563 tonnes per day (“tpd”) milled at 95% availability; Recoveries of 82.8% and 69.9% for gold and silver, respectively, in Fourth Quarter 2022; 146,560 tonnes in stockpile containing 10,554 oz Au at a blended grade of 2.24 g/t Au; 9,882 oz Au and 16,268 oz Ag recovered; 9,956 oz Au and 9,955 oz Ag sold.