Mako Mining Corp. announces positive drill results on its La Segoviana concession ("La Segoviana" or Concession), located approximately 17 km to the north of the company's 100% owned San Albino gold mine which is currently in commercial production. In addition, results of fluid inclusion studies from the Colorado School of Mines ("CSM") confirm the orogenic nature of gold mineralization across the 28 km of strike contained within the Company's 188 square kilometer (km2) land package in northern Nicaragua.

Reconnaissance geological mapping and sampling has identified numerous gold bearing structures outside the San Albino/Conchitas areas that have never been drill tested. At La Segoviana, detailed sampling and mapping of recent, small-scale underground and surface workings confirmed near surface, high-grade gold mineralization at several prospects situated approximately 17 km north of San Albino Mine. Sampling and mapping in this area indicates significant strike potential over a linear distance of 6.4 km.

The initial 1,000 m exploration drilling program is focused on known surface mineralization within this north-trending mineralized corridor at three prospects: La Reforma, San Luis and Minas America, with the goal of assessing the overall mineralization geometry, grade continuity and mineral resource potential. The discovery drill hole, LS23-04, located at the San Luis prospect and collared below known mineralization in a recent, small scale underground working, intersected an interval of 41.99 g/t Au and 28.7 g/t Ag over 2.1 m (1.4 m ETW), starting at a vertical depth of 34 m. This interval indicates high grade gold is associated with a sub-vertical, banded quartz vein. A quartz stockwork/breccia zone occurs above the banded vein, with anomalous gold assays ranging from 0.15 g/t Au to 0.91 g/t Au.

The entire zone including quartz stockwork/breccia averages 17.99 g/t Au and 12.5 g/t Ag over 5.0 m (3.2 m ETW). The quartz stockwork/breccia zone appears to be a new style of gold mineralization, which has not been observed at San Albino and will require additional drilling to characterize its significance. It is common in orogenic districts to have variations in gold occurrences based on local structure and host rocks.

The host rocks in this area are similar to the San Albino schist; however, they have a fairly high proportion of interbedded metavolcanic material in the black schists. Drill hole LS23-03 is collared 28 m northwest from the discovery hole and intersected the stockwork zone, mentioned above grading 6.06 g/t Au and 9.2 g/t Ag over 1.2 m (1.1 m ETW). At the La Reforma prospect located approximately 370 m northeast of the discovery hole, the Company completed two drill holes.

Both holes intersected a fault zone with low grade or anomalous gold. Further mapping of gold showings and local faulting has since been completed and additional drilling is planned over the coming days. Drilling is currently underway on the Minas America prospect located approximately 2 km to the south of the discovery drillhole, where the vein is gently dipping to the northwest, further onto our concessions, consistent with the regional orientation.

The Company is collaborating with the Colorado School of Mines through a consulting agreement to gain access to top research professionals and facilities and is sponsoring a master's thesis to characterize and further investigate the styles of mineralization and structural controls within the Company's mining concessions to further guide the exploration efforts.