Maple Gold completed three phases of drilling during 2022 for a total of 13,822 m across 28 drill holes. Highlighted results from 2022 drilling at Eagle are summarized below (see Figure 2 for hole locations). Assays are still pending for approximately 20% of the 2022 program.

• EM-22-005: 4.0 g/t Au over 7.5 m, including 6.4 g/t Au over 3.0 m

• EM-22-009: 11.4 g/t Au over 3 m, including 24.4 g/t Au over 1 m

• EM-22-13: 2.3 g/t Au over 10.4 m, including 5.0 g/t Au over 3.2 m

• EM-22-015: 10.3 g/t Au over 7.8 m, including 41.1 g/t Au over 1.0 m

• EM-22-015: 4.3 g/t Au over 3.9 m, including 6.6 g/t Au over 2.0 m

• EM-22-016: 3.1 g/t Au over 7.3 m, including 4.0 g/t Au over 3.6 m\

The 2022 drill results continue to support the Company's view that multiple sub-parallel gold horizons exist beyond what was historically mined at Eagle and have expanded target areas along a broader mineralized corridor over a stratigraphic thickness that now exceeds 100 metres in width (see Figure 3). There is an apparent concentration of >10 g/t gold starting near surface and extending down-plunge to the EM-22-015 intercepts along the North Mine Horizon in an area with limited drilling that remains open further down-plunge (see Figure 4).

Figure 2: Highlighted results from EM 22-015

Eagle Drill Core: EM-22-015 intercept at 230.8 m downhole in lapilli-tuff host. Sulfide patches in between lapilli are semi-massive to massive. NQ core, 47.6mm diameter. 

Figure 3: NW-looking cross section (85 m total width) highlighting new assay results (gold boxes) and previously reported/historical intercepts (white boxes) along well-defined sub-parallel horizons.

The EM-22-015 intercepts are located approximately 60 m down-plunge from historical hole E-19 (see figure 4). Additional historical drill holes intersected >5g/t Au roughly 250 m further down-plunge, highlighting the grade and volume potential of this new zone that will be tested via follow-up drilling in 2023.

Figure 4: NE-looking long section (55 m total width) highlighting the location of the EM-22-015 intercept (10.3 g/t Au over 7.8 m) relative to pre-existing grade contouring in the North Mine Horizon. Note the open area extending down-plunge from hole E-19 (19.6 g/t Au over 7.9m).

Intercepts >2 g/t Au have now been obtained at Eagle at downhole depths ranging from 109 to 1,234 m, which is indicative of the significant depth continuity of the system. The Company's next steps will include a comprehensive review of all available data at Eagle, including incorporating results from the 2022 program into its 3D geological model, along with definition of priority targets for follow-up drilling in 2023. The Company also believes that continued drilling success at Eagle will relate positively to ongoing exploration on its JV ground at Telbel and along the entire Joutel Deformation Zone.