Maple Gold assays 11.4 g/t Au over 3m at Eagle-Telbel in Quebec

Maple Gold Mines (TSXV: MGM; OTC: MGMLF) has released initial assay results for the first hole of the company's Phase II drill program at its Eagle mine property in Quebec. The program is designed to test potential extensions of mineralization along and beneath the past-producing Eagle-Telbel mine trend. Approximately 4,700 metres have been planned for the Phase II drilling.

The initial drill hole (EM-22-009) intersected 11.4 g/t over 3.0 metres, including 24.4 g/t gold over 1.0 metre, to the north of the modelled main Eagle-Telbel mine horizon in the hanging wall microgabbro. There is limited historical drilling in the hanging wall at Eagle, and drill holes were not typically assayed for gold as previous operators were not focused on this structural-stratigraphic target type. This intercept is significant because these results are not found within the broadly conformable horizon mined at Eagle in the past, but instead within a microgabbro some distance to the north.

According to Maple Gold, the new intercept and other notable high-grade historical intercepts (including 26.7 g/t gold over 2.5 metres and 26.4 g/t over 1.4 metres within 14.3 g/t over 2.9 metres) hosted in the same microgabbro unit are further indications of additional styles of gold mineralization at Eagle beyond the known Eagle-Telbel style mined historically, and suggest multiple gold events that may provide for broader gold distribution than previously interpreted.

"These initial Phase II assays include the best result thus far from our 2022 drilling at Eagle, and the location of the intercept holds great significance for our exploration targeting going forward, including Phase III drilling later this year," said Matthew Hornor, president and CEO of Maple Gold.

To date, the company has reported Eagle assays for roughly 5,400 metres (or 59%) of the total drilled, including 4,460 metres from the Phase I drilling that commenced in January 2022. The Phase III drilling, which is expected to commence in the fourth quarter 2022, will follow up not only on the best results of the first two drilling phases, but also on the results of previous downhole electromagnetic surveys.

Located several kilometres west of the former mining town of Joutel, the Eagle property hosts the historical underground Eagle mine, which formed a part of Agnico's past-producing Eagle-Telbel mining complex that produced approximately 1.1 million oz. of gold between 1974 and 1993. In 2021, Maple Gold entered an option agreement to acquire 100% interest in the property.

More information on the Eagle mine property is available at www.MapleGoldMines.com.