VANCOUVER, BC / ACCESS Newswire / July 7, 2026 / Mako Mining Corp. (NASDAQ:MAKO)(TSX-V:MKO) ("Mako" or the "Company") is pleased to announce a mineral reserve estimate and updated project economics for the Moss Mine located in Arizona, USA (the "Moss Mine" or "Moss"), prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") with an effective date of June 30th, 2026. An updated technical report for Moss will be filed in accordance with NI 43-101 under the Company's SEDAR+ profile at www.sedarplus.ca within 45 days of this news release.
Mineral Reserve Highlights:
Total Proven and Probable Mineral Reserves of 597,744 oz gold ("Au") and 6.30 Moz silver ("Ag") contained within 56.8 million tonnes ("Mt") grading 0.327 grams per tonne ("g/t") Au and 3.45 g/t Ag.
Mineral reserves have been estimated using metal prices of US$3,500/oz gold and US$50/oz silver and are based on the mining and processing methods currently in use at Moss-conventional open pit mining using truck-and-shovel method and processing by crushing, heap leaching and Merrill-Crowe recovery.
Project Economics Highlights:
After-tax net present value discounted at 5% of US$254 million ("M") at the base-case gold price of US$3,500/oz and silver price of US$50/oz.
442,904 ounces of recovered gold and 2.1 million ounces of recovered silver expected over a 15-year life of mine ("LOM") assuming recoveries of 75% and 33% for Au and Ag, respectively. Projected average annual production of 30.9k oz Au (2026-2039) with peak production of 46.1 koz Au estimated in 2031.
Average heap leach grade of 0.327 g/t Au and 3.45 g/t Ag with associated strip ratio of 1.3:1 (waste:ore).
No initial capital required. LOM sustaining capital expenditures estimated at US$86 million, all expected to be funded out of cash flow.
Mineral Reserve Estimate
The Moss Mine contains Proven and Probable Mineral Reserves of 56.8 million tonnes (62.6 million short tons) grading 0.327 g/t gold and 3.45 g/t silver, containing 597,744 ounces of gold and 6.30 million ounces of silver (Table 2). The mineral reserve estimate was prepared in accordance with NI 43-101 and the 2014 CIM Definition Standards following the application of all applicable Modifying Factors. The Proven and Probable Mineral Reserves provide the basis for a 15-year mine plan and the updated project economics presented in this news release. Mineral reserve tonnages and grades are reported in metric units, with the corresponding imperial units presented in Table 3.