Mako Mining Intersects 18.34 g/t Au over 4.2 m Estimated True Width, 48 m Below Surface, Extending El Golfo Strike Length to 630 m and Announces Receipt of Underground Mining Permit at Las Conchitas

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 6, 2026 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) ("Mako" or the "Company") is pleased to report additional results from the 2025 reverse circulation ("RC") and diamond drill program at the El Golfo area, located immediately south of the Company's 100%-owned Las Conchitas and San Albino gold deposits and mining operations in Nicaragua (Figure 1).

In 2025, the Company completed 137 drill holes totalling 17,885 m. The objective of the most recent drilling was to further define the high-grade mineralization and to test for extensions of mineralization in areas that had not been previously drill-tested and/or disturbed by historical or more recent small-scale mining.

Recent drilling confirms the structural continuity of multiple, subparallel gold-bearing quartz veins in an area at least 630 m along strike and 305 m down-dip, or approximately 170 m from surface (see Figures 1 and 2).

Drill Highlights:

• EJ25-24: 18.34 g/t Au and 22.9 g/t Ag over 4.4 m (4.2 m ETW)

• EJ25-18: 37.20 g/t Au and 42.1 g/t Ag over 1.3 m (1.2 m ETW)

• EJ25-17: 74.90 g/t Au and 182.0 g/t Ag over 1.0 m (0.9 m ETW)

• EJ25-54: 45.70 g/t Au and 41.5 g/t Ag over 0.95 m (0.9 m ETW)

Akiba Leisman, CEO of Mako states: "El Golfo is shaping up to be a significant new discovery. High grades over widths similar to or greater than what we have been mining to the north since 2020 are prevalent. El Golfo, located 1km to the southwest of Las Conchitas contains lithologies that are essentially identical to what we have been mining at San Albino and Las Conchitas for the last six years. El Golfo has now been extended to 630 meters of strike and 305 meters of dip, and remains open in all directions. Furthermore, the receipt of underground mining permits at Las Conchitas will allow us to begin the development of two underground adits, with the ability to mine 150-250 tonnes per day for the next 6 years in addition to our open pit mining operations."

The recent drilling confirms the geological model for the El Golfo mineralization which represents the southwest extension of mineralized structures found at the Las Conchitas deposit. The El Golfo target is located within the Company's El Jicaro concession approximately 1 km to the southwest of Las Conchitas (see Figure 1). This model consists of multiple subparallel gold bearing quartz veins with a northeast-southwest strike and a gentle northwest dip. The veins are hosted by broadly uniform host rocks, consisting of deformed carbonaceous schists. Both the host rocks and mineralization style at El Golfo are very similar to those being mined by the Company at the San Albino and Las Conchitas deposits. Further drilling is planned to confirm the grade and distribution of mineralization.

Diamond drill hole EJ25-18 intersected two high-grade intervals close to surface (see Table), including 19.60 g/t Au and 42.6 g/t Ag over 0.5 m starting 9.4 m from surface; and 37.20 g/t Au and 42.1 g/t Ag over 1.3 m (1.2 m ETW) 36 m below the surface. This drill hole confirms structural and grade continuity of the mineralized zone over 41 m down-dip of the high-grade mineralization intersected in RC drill hole EJ25-RC54, which graded 27.86 g/t Au and 2.1 g/t Ag over 4.0 m (ETW) (see Press Release dated August 14, 2025).

Diamond drill hole EJ25-24 intersected three mineralized zones. The first interval, 1.0 m below surface, intersected 12.60 g/t Au and 15.4 g/t Ag over 0.7 m (0.5 m ETW), confirming a 45 m southwest strike extension of the zone intersected in diamond drill hole EJ25-22 which graded 6.45 g/t Au and 7.1 g/t Ag over 6.0 m (5.8 m ETW), 1.5 m below the surface. The second interval, 26.0 m from surface, intersected 12.50 g/t Au and 2.4 g/t Ag over 0.45 m (0.4 m ETW), represents a 65 m southwest strike extension from diamond drill hole EJ25-18, described above. The third high-grade interval, 18.34 g/t Au and 22.9 g/t Ag over 4.40 m (4.2 m ETW), was intersected 48 m below a pit excavated by artisanal miners. This drill hole successfully tested the potential for additional mineralized structures below previously identified mineralization. Additional drilling is required to test the full potential of this mineralized structure.

Diamond drill hole EJ25-17 (Figure 1 and 2), was designed to further test the high-grade mineralization mentioned above, this hole intersected 74.90 g/t Au and 182.0 g/t Ag over 1.0 m (0.9 m ETW), 71.5 m from surface, confirming a 42 m southwest strike extension of the mineralization intersected by EJ25-24.

Diamond drill hole EJ25-54, collared within an area that had not been previously drill-tested, intersected 45.70 g/t Au and 41.5 g/t Ag over 0.95 m (0.9 m ETW), extending mineralization 550 m southwest along strike from a wide zone of high-grade mineralization intersected by the drill hole EJ25-RC53 (see Press Release dated May 21, 2025). EJ25-RC53 intersected 39.15 g/t Au and 27.8 g/t Ag over 8.0 m (5.9 m ETW), 19.2 m below surface (Figure 2). Mineralization at El Golfo remains open along strike, beyond the currently known mineralization.

Las Conchitas Underground Mining Permit

At the end of 2025, the Company received from the Ministry of Environment and Natural Resources of Nicaragua (MARENA) a modification to the environmental permit for mining at the Las Conchitas deposit, located within the San Albino-Murra Concession, Nicaragua.

In addition to the previously authorized open-pit mining activities, the modified permit allows the Company to conduct underground mining through two adits, with planned production of approximately 150-250 tonnes per day over a six-year period.

Table - Assay Results of RC* and Diamond Drill Holes** Reported in This Press Release