Mako Gold Limited (‘Mako' or ‘the Company') announced a maiden JORC compliant (2012 edition) Inferred Mineral Resource Estimate (MRE) of 22.45Mt at 1.20g/t Au for 868,000 contained ounces of gold on the Tchaga and Gogbala prospects, within the Company's Napié Project (Napié) in Côte d'Ivoire. Tchaga and Gogbala are two of four prospects currently being explored by the Company, which are located on a +23km soil anomaly and coincident 30kmlong Napié Shear. The maiden MRE comprises the Tchaga and Gogbala prospects which constitute only 4.4km of the 30km long Napié Shear.

Only 13% of the Napié Shear has been systematically drilled, indicating the strong potential for resource growth at Napié by drilling between Tchaga and Gogbala as well as on other undrilled portions of the Napié Shear. The Napié maiden MRE is much shallower than the average 300m depth for recent resources in West Africa. The maximum resource depth, which is constrained due to limited deeper drilling, is 195m at Tchaga and 160m at Gogbala.

Part of the Company's nearterm growth strategy is to drill below the current limits of the MRE at Tchaga and Gogbala as shown by the vertical blue arrows. The grades at Tchaga and Gogbala increase with depth, supporting the strategy that deeper drilling has the potential to add highergrade ounces to the resource. The maiden Mineral Resource Estimate at Napié is classified as Inferred.

Detailed metallurgical test work and nearterm infill drilling will assist with lowcost reclassification to Indicated. The majority of the resource is in fresh rock, with less than 11% in the shallow (3,040m deep) oxide zone. The resource at Tchaga comprises 14.6Mt at 1.16g/t Au for 545koz contained ounces of gold.

The resource is shallow and includes highgrade lodes shown in red and pink. The grades increase with depth where the grade of the deposit below 150m increases to 1.38g/t Au. Further drilling at depth may provide an uplift in the grade of the deposit.

The resource at Tchaga was estimated to a maximum depth of 195 meters. Although geological modelling showed continuity of mineralisation, the density of the drilling below 195m is currently insufficient to support classification into the MRE, and as such, some highgrade lodes were excluded. Planned deeper drilling, such as in the grey areas, has the potential to significantly increase the resource with minimal drilling.

The resource at Gogbala comprises 7.8Mt at 1.29g/t Au for 323koz contained ounces of gold. The resource is shallow and includes highgrade lodes shown in red and pink in Figure 4. The grade of the deposit is higher at Gogbala than at Tchaga and grade also increases with depth, where the grade of the deposit below 150m increases to 1.90g/t Au. Further drilling at depth may provide an uplift in the grade of the deposit.

The resource at Gogbala was estimated to a maximum depth of 160 meters. There was very limited drilling below 150m depth therefore some highgrade blocks, were excluded from classification into the MRE. Similar to Tchaga, planned further deep drilling has the potential to significantly increase the resource in the nearterm.

The Company plans to continue its extensive drilling programs at Napié in order to quickly advance towards a multimillionounce resource base. In addition to the potential pathways to resource growth at depth at Tchaga and Gogbala, there are several large targets at Napié which provide a low cost, rapid path to resource extension through shallow drilling: 1. Infill drilling on the 4.5km section between Tchaga and Gogbala - Mako has completed only limited drilling along this section of the Napié shear, which has returned positive drilling results. The drilling strategy is to work outwards (to the north and south) of known positive results along the shear so that the extent and density of drilling can add resources.

The goal is to close the gap between Tchaga and Gogbala and have a semicontinuous resource over the entire 4.5km stretch of Napié shear between the two currently defined resource areas. 2. Gogbala multikm shallow resource growth - Gogbala presents significant shallow growth potential along multikilometre stretches of the Napié shear that has had limited or no drilling. The 4.5kmlong eastern splay of the Napié shear where only a small part of the resource was included (white resource outline in the pink ellipse).

Mako just began drilling the area in the small resource block prior to cutting off drilling for the MRE. Drilling immediately north and south of the small resource block is the higher priority target when drilling resumes at Gogbala. The Company believes that there is potential for significant resource growth on the 4.5km stretch of the eastern splay of the Napié shear.

This is the faster and lower cost approach to resource expansion since this would only require shallow drilling with 100 to 150m deep RC holes. The 2km long northern extension of the northern block of the MRE. Mako has drilled intermittently in this area with positive drill results, but insufficient density of drill holes precluded the inclusion results from this area of the MRE.

Using the same strategy, and drilling outwards from previous positive drill results, provides a clear pathway to outlining further resources in this 2km gap. This approach overlaps with the strategy outlined in point 1, with the goal of adding significant resources north of Gogbala and south of Tchaga. The gap between the north and south resource blocks at Gogbala will be drilled with the goal of infilling the resource between the two blocks.

This has the potential to significantly improve the contiguous mineralised strike length at Gogbala. Current drilling at the Komboro Prospect and planned drilling at the Tchaga North Prospect are a key element of Mako's broad strategy to define multimillionounce resource at Napié, which the Company believes has district scale potential. Komboro Prospect - A 2,700m drilling program is currently underway at the Komboro Prospect on highpriority targets generated by recent AC drilling and from geological mapping and rock chip sampling.

Results from AC drilling include 4m at 1.93g/t Au, 4m at 1.20g/t Au, and 4m at 1.10g/t Au. Recent geological mapping identified artisanal mining sites with large quartz veins which can be intermittently traced over 9km in old and current artisanal mining pits. Recent and historic rock chip results from sampling of the artisanal mining sites include 13.40g/t Au, 8.43 g/t Au, 7.41g/t Au and 5.93g/t Au.

Assays for the ongoing drilling program are pending.