MAKO News & Events

Mako Mining provided its first quarter 2026 production results for the Company's San Albino gold mine in northern Nicaragua and the Moss Mine in Arizona, as well as to provide an update on its two advanced development projects in the United States and Guyana. Q1 2026 San Albino Operational Highlights: 50,233 tonnes mined, containing 12,538 ounces of gold at an average grade of 7.76 grams per tonne Au and 12,460 oz of silver at 7.71 g/t Ag; 31,033 tonnes mined from diluted vein material containing 10,613 oz Au at 10.64 g/t Au and 10,476 oz Ag at 10.50 g/t Ag; 19,200 tonnes mined from historical dump and other mineralized material above cutoff grade containing 1,925 oz Au at 3.12 g/t Au and 1,984 oz Ag at 3.21 g/t Ag; 43.9:1 strip ratio; 53,638 tonnes milled containing 13,277 oz Au and 13,274 oz Ag grading 7.70 g/t Au and 7.70 g/t Ag; 55% and 45% from diluted vein and historical dump and other, respectively; 614tonnes per day milled at 97% availability; Mill recovery of 80.1% for gold; At quarter end, the stockpile was estimated at 124,350 tonnes at an average grade of 2.65 g/t Au for contained Au of 10,558 oz Q1 2026 Mako Financial Highlights: Mako total gold sales of 13,721 oz Au for total revenue of $68.6M in Q1 2026; San Albino Mine sales of 10,398 oz Au at $4,901 per ounce; Moss Mine sales of 3,323 oz Au at $4,912 per ounce; Delivered 274 oz Au in connection with gold stream related to the purchase of the Mt. Hamilton Project; Cash balance and trade receivables of $96.1M as of March 31, after a previously accrued 2025 $13.2M annual tax payable was paid.

The Company sold 11,564 oz of gold at an average realized price of $4,313 per oz with a $1,876 All-In Sustaining Cost. Akiba Leisman, CEO of Mako states "Q4 2025 was an exceptionally strong quarter, with 11,564 ounces sold at a record $4,313 gold price, leading to $0.17 per share of EPS, over $28 million in Adjusted EBITDA, with a cash and trade receivable balance of $78 million. Mako generated an industry leading ROE of 29.6%, which is even more impressive given that the two most significant assets the Company has are non-producing. The Company is completely debt free, even after accounting for two significant acquisitions in 2025. Now that the Moss Mine is approaching steady state production, Q1 2026 will be another record quarter for the Company, with more than enough internally funded sources of cash to build the Mt. Hamilton and Eagle Mountain development projects, which will significantly enhance the Company's production and profitability profile."