Mako Mining Corp. provided fourth quarter 2023 production results from its San Albino gold mine in northern Nicaragua, which is the tenth full quarter of production results since declaring commercial production on July 1, 2021. Audited financial results for fourth quarter 2023 and full year 2023, including detailed reporting of the operating costs, are expected to be released in April 2024.

For the period, the production highlights are: 52,398 tonnes mined containing 14,060 ounces of gold ("oz Au") at a blended grade of 8.35 grams per tonne gold ("g/t Au") and 12,650 ounces of silver ("oz Ag") at a grade of 7.51 grams per tonne silver ("g/t Ag") - 20,469 tonnes mined containing 9,538 oz Au at 14.49 g/t Au and 8,162 oz Ag at 12.40 g/t Ag from diluted vein material, 31,929 tonnes mined containing 4,521 oz Au at 4.40 g/t Au and 4,488 oz Ag at 4.37 g/t Ag from historical dump and other mineralized material above cutoff grade ("historical dump + other"), 22.8:1 strip ratio. 51,745 tonnes milled containing 13,673 oz Au at a blended grade of 8.22 g/t Au and 12,766 oz Ag at 7.67 g/t Ag- 36% and 64% from diluted vein and historical dump and other, respectively, 582 tonnes per day ("tpd") milled at 97% availability, and Recoveries of 84.6% for gold in fourth quarter 2023. 135,261 tonnes in stockpile containing 10,775 oz Au at a blended grade of 2.48 g/t Au.

11,567 oz Au Equiv. recovered and 13,481 oz Au. Equiv.

sold during the quarter which includes the sale of finished goods inventory that was held over from third quarter 2023.