Maple Gold Mines Ltd. reported additional assay results from the Company's 2022 drilling at its 100%-controlled Eagle Mine Property ("Eagle") located in Québec, Canada. The new results represent complete assays from five (5) follow-up holes for which partial results were previously reported, targeting northwest extensions of the main mine horizon and along multiple sub-parallel gold horizons. The Company's latest drilling in the northern splay of the main mine horizon (the "North Mine Horizon") has returned the best intercept to-date from its 2022 program at Eagle.

Key assay results reported herein are from holes drilled at different orientations from the site of hole EM-22-005 (see news from June 20, 2022); three (3) starting from the same drill collar (EM-22-013, EM-22-015, EM-22-016) and one (1) wedge drill hole (EM-22-005W). The new results from EM-22-015 support the Company's model of multiple sub-parallel gold horizons, some of which are particularly high-grade (>10 g/t), extending from the southern splay of the main mine horizon (the "South Mine Horizon") to beyond the North Mine Horizon over a mineralized corridor that now exceeds 100 m in width. These two horizons merge into a single main mine horizon in the central part of the Eagle property.

Gold mineralization at Eagle is not only limited to the known main mine horizon, hosted in mixed epiclastic and pyroclastic rocks of the northern part of the Joutel-Raymond volcanic Gold mineralization at Eagle is not only limited to the known main mine horizon, hosted in mixed epiclastic and pyroclastic rocks of the northern part of the Joutel-Raymond volcanic. The EM-22-015 intercepts are located approximately 60 m down-plunge from historical hole E-19. Additional historical drill holes intersected >5g/t Au roughly 250 m further down-plunge, highlighting the grade and volume potential of this new zone that will be tested via follow-up drilling in 2023.

In contrast with the South Mine Horizon, which is hosted in a mixed package of fine-grained crystal tuffs and laminated sediments with the latter hosting most of the gold-bearing semi-massive sulfide mineralization cut by irregular ankerite-(quartz) veinlets, the North Mine Horizon is associated with coarser lapilli-tuffs that appear to have been quite permeable and allowed deposition of abundant matrix sulfide adjacent to and overlapping with the microgabbro further downhole. The distribution of these coarse tuffs adjacent to the microgabbro represent a favorable target that has relatively limited drilling to the northwest as well as down-dip and down-plunge. Intercepts >2 g/t Au have now been obtained at Eagle at downhole depths ranging from 109 to 1,234 m, which is indicative of the significant depth continuity of the system.

Multi-element geochemistry, a first for the Eagle project, indicates that Au is associated with elevated silver ("Ag") and that several additional elements can be used for targeting purposes as they provide for a significantly broader footprint than Au and Ag alone. The Company completed a total of 28 drill holes corresponding to ~13,823 m at Eagle during 2022. Approximately 20% of the assays for the entire program are still pending.

Additional assay results will be released on a periodic basis over the coming months once they are received and interpreted. The Company's next steps will include a comprehensive review of all available data at Eagle, including incorporating results from the 2022 program into its 3D geological model, along with definition of priority targets for follow-up drilling in first half 2023. The Company also believes that continued drilling success at Eagle will relate positively to ongoing exploration on its joint venture ground at Telbel and along the entire Joutel Deformation Zone.