Mako Gold Limited announced that it has received assay results from a structural diamond drill (DD) hole from the Tchaga Prospect, within the Company's 90% owned Napié Project in Côte d'Ivoire. Tchaga is located on a +23km soil anomaly and coincident 30km-long Napié Fault. Drill hole NADD020 was completed for the following reasons and achieved all the objectives.

To get a complete stratigraphic section from surface to depth in order to increase the structural knowledge of the Napié deposits. NADD020 was carefully selected so that a complete cross section of lithological units and structures would be intersected. The drill hole achieved this and will be carefully reviewed, along with previous DD holes by structural consultants when they commence their studies in March 2023.

To test for shallow mineralisation, west of Tchaga, outside the mineral resource current boundary. A broad intersect of 23m at 1.01g/t Au from 53m was discovered. The company believes that follow- up shallow drilling, after the structural interpretation may locate higher-grade intersections in the vicinity of this zone.

This underscores Mako's belief that the limits of the potential resource extend beyond what is currently defined. To test for mineralisation at depth and to gain a better understanding of controls to gold mineralisation. Two zones of mineralisation which include 7.7m at 1.24g/t Au from 425m, and 28.9m at 1.17g/t Au from 436.1m were intersected at depth.

The Company believes that this hole will provide critical information and once structural studies are completed, the information from these intersects hold potential for Mako to vector into possibly higher-grade mineralisation. The structural consultants will commence their work in March and will use the NADD020 along with other DD holes drilled at Napié to integrate a structural model with the current Mineral Resource Estimate. Once this is completed, the information will help to target further mineralisation through identification of a plunge direction of mineralisation or other structural controls to vector in to the high-grade "sweet spots" on the Napié Project, as Mako moves towards a Mineral Resource update.

Phase 2 of the auger drilling program is scheduled to commence later this week with 5 auger rigs. Once results are received RC drilling will commence on targets with the highest potential for resource expansion. Mako Gold Limited is an Australian based exploration Company focused on advancing its Napié Gold Project (224km2) in Côte d'Ivoire located in the West African Birimian Greenstone Belts which hosts more than 70 +1Moz gold deposits.

Senior management has a proven track record of high-grade gold discoveries in West Africa and aim to deliver significant high-grade gold discoveries. On 14 June 2022, a maiden Mineral Resource Estimate was reported in accordance with JORC (2012) at Tchaga and Gogbala. Mako Gold entered into a farm-in and joint venture agreement on the Napié Permit with Occidental Gold SARL, a subsidiary of West African gold miner Perseus Mining Limited in 2017 1. Subsequently Mako renegotiated the agreement with Perseus and has now consolidated its ownership in the Napié Project from 51% to 90% 2. In addition, Mako Gold has 100% ownership of the Korhogo Project comprising two permits (296km2) covering 17km of faulted greenstone/granite contact (high-grade gold targets) located within 30km of Barrick's operating Tongon Gold Mine (4.9Moz Au) in a highly prospective greenstone belt that also hosts Montage Gold's 4.5Moz Kone gold deposit, both located in Côte d'Ivoire, as well as Endeavour's 2.7Moz Wahgnion gold mine across the border in Burkina Faso.

Results are reported with a 0.5g/t cut-off grade with 2m internal waste unless noted otherwise. Intercepts of 1m at less than 1g/t Au are not considered significant and are not reported Areas shaded in yellow represent assays over 10 gram/metres and are considered highly significant. Bolded results represent assays greater than 5 gram/metres (length X Au grade).