Maple Gold Mines Ltd. provided an update on ongoing exploration activities at its 100%-controlled Eagle Mine Property ("Eagle") located in Québec, Canada. The Company is completing a compilation of current and historical drill data, new downhole electromagnetic ("EM") conductor data, and the regional airborne geophysical survey data acquired by the Company in 2022. Drill target definition and permitting has been initiated for a planned 5,000 metre ("m") follow-up drill program in 2023 that will test undrilled zones with significant grade and volume potential.

The Company expects to receive and report remaining assay results from completed drilling at Eagle in First Quarter 2023. Once final results are received, the Company will be updating its 3D model with new drilling and geophysical data to generate new sections and level plans and refine additional priority targets. The immediate focus of the 2023 drill program will be potential extensions of known high-grade (>5 grams per tonne ("g/t") gold ("Au")) mineralization, including areas up/down-plunge of EM-22-015, which returned seven (7) separate intercepts highlighted by 10.3 g/t Au over 7.8 m. Gold mineralization within the main mine horizon at Eagle is generally oriented northwest- southeast, which is consistent with modeled stratigraphy.

New Maxwell plate modelling of downhole EM conductors at Eagle is consistent with this overall northwest-southeast trend; however, one of the EM anomalies is best modelled as a planar feature at high angles to the overall trend, suggesting that gold mineralization may be controlled not only by stratigraphy but also by cross-cutting structures, which are also supported by 3D drone magnetic inversion trends. The new downhole EM survey data provides support for the Company's interpreted northeast-southwest trending cross-plunge potentially linking high-grade results from EM-22- 015 to intercepts located approximately 60 m up-plunge in historical hole E-19 (19.6 g/t Au over a similar 7.9 m width). Additional historical drill holes intersected >5g/t Au roughly 250 m further down-plunge of EM-22-015, highlighting the grade and volume potential of a new zone that will be tested via follow-up drilling in 2023.

The key conceptual result from 2022 drilling at Eagle was confirming the existence of several different styles of gold mineralization, over significantly greater widths than were previously defined, including: Quartz-carbonate veinlets in wallrock felsic tuffs; Semi-massive sulfides with apparently overprinting Fe-carbonate and quartz; Disseminated sulfides associated with bleached, foliated and pyritic microgabbro; Semi-massive sulfides associated with (and forming the matrix of) lapilli tuffs; and Sulfide-rich intervals in graphitic sediments of the Harricana Grp. These different styles of mineralization define an expanded corridor of 100 m in true width straddling the Harricana Fault Zone. Conceptual targets, focusing on higher grade x thickness (i.e. higher metal factor) areas with limited drilling are found at different depths along the margins and down-plunge of the historically mined areas.