Douay Gold Project Drilling Completed

VANCOUVER - Maple Gold Mines Ltd. reported that drilling was completed at the Douay Gold Project during H1/2022. Douay is a joint venture between the Company and Agnico Eagle Mines Limited. The JV's first year of drilling focused primarily on infill and local step-out drilling, which resulted in positive conversion (21% increase) from inferred mineral resources to indicated mineral resources (SLR 2022 vs RPA 2019) and incremental mineral resource gains within the known Douay mineral resource area. The JV's second year has focused on additional step-outs, deep drilling, and discovery targets, with the same growth-oriented approach expected in year three to better define the full extent and potential of the mineralized system at Douay.

The Company has now received all assay results for 2022 drilling to-date at Douay, which included 11 drillholes plus two drillhole extensions for approximately 7,800 meters ("m"). An additional ~10,000 m of drilling has been completed at the Eagle and Telbel mine areas with assays pending.

Ten of the twelve holes returned intercepts over 0.45 g/t Au, and seven of these returned intercepts over 1 g/t Au. Nika Zone step-out DO-22-322A intersected 9.8 g/t Au over 1 m starting from 584 m downhole, as well as multiple additional intercepts including 0.8 g/t Au over 10 m and 1.6 g/t Au over 2 m further downhole; these intercepts occur 250-600m vertically below the base of the Nika pit, with no nearby drilling. This entire interval is strongly altered and foliated and appears to confirm depth continuity of the intrusive-hydrothermal gold system at Douay. Douay West step-out hole DO-22-324 intersected 4.1 g/t Au over 0.6 m from 505.6 m; it also returned the deepest intercept yet on the property of 1.2 g/t Au over 1.0 m at 1,139 m downhole, near end of hole, downdip of the Nika Zone, again with no nearby drilling. The Company plans to deepen this hole to about 1,500 m.

Additional sediment-hosted gold showings at the NE IP Target include 3.3 g/t Au over 0.7 m from 155 m downhole and 2.2 g/t Au over 1 m from 322.7m downhole in DO-22-328; the latter forming part of a ~200m (downhole length) altered and pyritic sedimentary interval including a distinctive fine conglomerate with red jasper fragments. This provides further support for a new gold zone 4 km to the NE of the current Douay mineral resource area, open laterally and at depth. Central Zone area hole DO-22-326 (collared 375 m from the nearest historical hole) returned four intercepts over 1 g/t Au, with the best being 3.0 g/t Au over 1.0 m from only 67 m downhole, further showing gold potential in the sparsely drilled Taibi sedimentary domain.

"The Company understands that step-out and discovery drilling may be inherently higher risk than infill drilling, but the reward can be game-changing on successes," said, Fred Speidel, VP Exploration. "With that in mind, the Company views the H1/2022 drilling results at Douay as positive from an exploration perspective, particularly regarding sediment-hosted gold mineralization north of the Casa Berardi North Fault, where there is still only very limited drilling: there is a drilling gap of over 7 km between the NW Zone and NE IP target, and multiple drilling gaps of up to approximately 700 m adjacent to the Central Zone. In addition, the H1/2022 drilling campaign also confirmed depth continuity of the intrusive-hydrothermal gold system at Douay; we look forward to initiating the 10,000 m deep drilling program at Douay in the coming weeks."