Disclaimers

This website is owned and operated by Mako Mining Corp. Where we say “we”, “us”, “our”, the “Company”, or “Mako”, we mean Mako Mining Corp. and/or one or more or all of its affiliates, as may be applicable. By using the website, you agree to the following terms and conditions.

Mako has taken all reasonable care in producing and publishing information contained on this website, and will endeavor to do so regularly.  However, such information is not intended to be a comprehensive review of all matters and developments concerning the Company and the Company cannot guarantee the accuracy, currency or completeness of the information at all times. Information posted to the website is accurate at the time of posting, but may be superseded by subsequent disclosures.

Material on this site may still contain technical or other inaccuracies, omissions, or typographical errors, for which Mako assumes no responsibility. Mako does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Mako be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material on this site.

The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express permission.

Website Protected by Copyright

Certain materials (including graphics, icons, HTML, javascripts, color schemes, multimedia, logos, photographs, copywriting, et al) that appear on this website are the property of Mako and copyrighted by same.

Other materials on this website not originally produced by Mako are copyrighted by their respective creators/owners and appear on this website either by permission, example or as public domain reference material. Trademarks may be registered in Canada and in other countries, as applicable. The display of trademarks on pages on this website does not imply that a license of any kind has been granted. Materials may not be copied, reproduced, modified, uploaded, posted, transmitted, or distributed in any way without our prior written approval. Any unauthorized downloading, re-transmission or other copying or modification of trademarks and/or the contents herein may be a violation of federal or common law, trademark and/or copyright laws and could subject the copier to legal action.

Privacy

Any material, information, or other communication (including questions, comments or suggestions) you transmit to Mako through this website will be considered non-confidential and non-proprietary ("Communications"). In making any such transmission, you agree that Mako will have no obligations of any kind with respect to the Communications. Where it is necessary, in order to answer your enquiry, the Communications you have provided may be passed to any Mako office or affiliate. By sending any Communications to us, you are consenting to the personal information contained therein being transferred within the Company and being processed by the Company for these purposes. You are prohibited from posting or transmitting to or from Mako any unlawful, threatening, libellous, defamatory, obscene,

Mako Not Responsible for Internet Software or Computer Viruses

Due to technical difficulties inherent on the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of information, contained on this website. Computer viruses or other destructive programs may also be inadvertently downloaded from the website. Mako shall not be liable for Internet software, computer viruses or destructive programs and recommends that you install appropriate anti-virus or other protective software.

Cautionary Statement regarding Forward-Looking Information

This website contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include words such as “plans”, “intends”, “anticipates”, “should”, “estimates”, “expects”, “believes”, “indicates”, “targeting”, “suggests” and similar expressions. Except for historical fact relating to the Company, forward-looking information contained herein includes, but is not limited to, information with respect to: future business operations; the Company’s plans to continue to advance construction and development at its San Albino gold project in Nicaragua while continuing to explore additional targets in Nicaragua; the timing for updated technical reports; the Company’s expectations in connection with production, exploration programs and development plans; future market conditions; the future price of gold; financial condition; the estimation of mineral resources; capital and operating expenditures, timing of potential new mineral resource estimates on other areas of the Company’s land package; expected exploration results and success of exploration activities; expectations with respect to acquisitions or dispositions; currency fluctuations; requirements for additional capital; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; title disputes or claims; outcome of claims and litigation; and limitations on insurance coverage and claims.

Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, the forward-looking information contained herein is inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include higher risk of economic or technical failure due to the fact that Mako did not base its production decision for the San Albino Project on a feasibility study of mineral reserves demonstrating economic and technical viability for the project; the impact of economic and political conditions, global liquidity and credit availability, fluctuating gold prices, currency exchange rates (such as the Canadian dollar and the Nicaraguan córdoba versus the United States dollar), interest rates, changes in accounting policies, changes in mineral resources, and risks related to acquisitions and/or dispositions including successful integration, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, potential impairment charges, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, including but not limited to, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting timelines, environmental and government regulation, risks related to relying on local advisors and consultants in foreign jurisdictions, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcome of pending and outstanding litigation, risks related to enforcing legal rights in foreign jurisdictions, vulnerability of information systems, risks associated with infectious diseases, including COVID-19, as well as other risk factors discussed or referred to herein and in the Company’s annual management’s discussion and analysis and other disclosure filed with the securities regulatory authorities in Canada and available under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s business, expected financial and operational performance and results as at and for the periods presented in the Company’s plans and objectives and may not be appropriate for other purposes.

Technical Disclosure

The mineral resources estimates and other scientific and technical disclosure reported on this website were prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory authorities, and are based on and/or derived from the Company’s current technical report(s). Information included on this website with respect to any mineral project on a property material to the Company is subject to all of the assumptions, qualifications and procedures set out in the applicable technical report and reference should be made to the full text of such applicable technical, which is available under Mako’s profile on SEDAR+ at www.sedarplus.ca. Readers should also refer to the latest continuous disclosure documents publicly available under the Company’s profile on SEDAR+ at www.sedarplus.ca, for more detailed information regarding other scientific and technical information contained on this website.

Unless otherwise stated, Matthew Gray, C.P.G., a “qualified person” as such term is defined in NI 43-101, has reviewed and approved the scientific and technical information on the San Albino Project included on this website. Mr. Gray is the Principal Geologist with Resource Geosciences Inc., and is independent of Mako.

Steven Ristorcelli, C.P.G., a geologist and a “qualified person” as such term is defined in NI 43-101 is the qualified person for the Company’s current mineral resource estimates on the San Albino Project. Mr. Ristrocelli is the Principal Geologist at Mine Development associates in Reno, Nevada, and is independent of Mako.

Cautionary Note to U.S. Investors

For United States reporting purposes, the United States Securities and Exchange Commission (“SEC”) applies different standards in order to classify mineralization as a resource or a reserve. In particular, while the terms “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” are accepted pursuant to NI 43-101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. You are cautioned not to assume that any part or all of the mineral resources in these categories constitute or will ever be converted into reserves. In particular, the confidence in inferred mineral resources is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability. Accordingly, it cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of the results of an economic analysis that includes or is based upon inferred mineral resources, except in limited circumstances.

Non-International Financial Reporting Standards (“IFRS”) Financial Measures

Mako discloses certain non-IFRS financial measures and ratios on its website from time to time, such as EBITDA (IFRS: operating income), adjusted EBITDA (IFRS: operating income), cash cost per ounce sold (IFRS: cost of sales), total cash cost per ounce sold (IFRS: cost of sales), Mine OCF (IFRS: Cash Flow from Operating Activities) and all-in sustaining costs (“AISC”) per ounce sold (IFRS: cost of sales), which are common performance measures in the mining industry, but are not recognized measures under IFRS and therefore may not be comparable to those presented by other companies.

In addition to conventional measures prepared in accordance with IFRS, investors often use such non-IFRS financial measures to evaluate Mako’s underlying performance of its core operations and its ability to generate cash flow. Accordingly, the inclusion of such measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

"EBITDA” represents earnings before interest (including non-cash accretion of financial obligation and lease obligations), income taxes and depreciation, depletion and amortization.

“Adjusted EBITDA” represents EBITDA, adjusted to exclude exploration activities, share-based compensation and change in provision for reclamation and rehabilitation.

“Cash costs per ounce sold” is calculated by deducting revenues from silver sales and dividing the sum of mining, milling and mine site administration cost.

“Total cash costs per ounce sold” is calculated by deducting revenues from silver sales from production cash costs and production taxes and royalties and dividing the sum by the number of gold ounces sold. Production cash costs include mining, milling, mine site security and mine site administration costs.

“Mine OCF” represents operating cash flow, excluding Nicaraguan taxes and royalties, changes in non-cash working capital and exploration expenses.

“AISC per ounce sold” includes total cash costs (as defined above) and adds the sum of G&A, sustaining capital and certain exploration and evaluation (“E&E”) costs, sustaining lease payments, provision for environmental fees, if applicable, and rehabilitation costs paid, all divided by the number of ounces sold. As this measure seeks to reflect the full cost of gold production from current operations, capital and E&E costs related to expansion or growth projects are not included in the calculation of AISC per ounce. Additionally, certain other cash expenditures, including income and other tax payments, financing costs and debt repayments, are not included in AISC per ounce.

Readers should refer to the latest Managements’ Discussion and Analysis as well as other publicly available disclosure under the Company’s profile on SEDAR+ at www.sedarplus.ca, for more detailed information regarding non-IFRS measures used.

Third Party Links

Mako may provided links from this web site, or in documents posted on this website, to other third-party web sites, which are for your convenience only. The viewer should be aware that in linking to these outside websites, he or she is leaving the Mako web site and that Mako does not monitor or endorse these websites and accordingly, Mako is not responsible for the content of any other site and assumes no liability for the content of any other site.

No Incorporation by Reference

No information included on this website shall be deemed to be incorporated by reference into any of Mako’s regulatory filings, unless expressly indicated in any such filings. In addition, no information shall be incorporated by reference onto this website, unless otherwise specified.

Exclusion of Liability

The reader agrees to hold Mako, its subsidiaries and their directors, officers, employees and agents harmless against claims for damages or costs or loss of any kind arising from access to or use of this web site or any information contained in or obtained through this web site.

Stock Quotes

All quotes are delayed at least 15 minutes unless otherwise stated. All stock quotes and historical stock price data are provided by third party service providers and are provided for informational purposes only, and are not intended for trading purposes. If you are contemplating trading in the securities of Mako, we strongly advise you to seek independent professional advice before making any investment decision. Mako makes no representation or warranty regarding the accuracy or completeness of any such stock price quotes or historical stock price data and has not taken any steps to verify the adequacy, accuracy or completeness of the information provided herein. Under no circumstances will Mako be liable for any inaccuracies or omissions in any such stock information or data, any delays or errors in the transmission thereof, or any loss or direct, indirect, incidental, special or consequential damages caused by reliance on this information or the risks arising from the stock market.

Website is Provided as a Service Only

This website is not intended as a solicitation or offering of securities in any jurisdiction and the information contained herein in no way should be construed or interpreted as such. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by Mako to that effect. The information on this website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Mako and should not be used for the purpose of making investment decisions concerning Mako securities.