Maple Gold Mines begins drilling at Douay, Joutel

Executive Summary

• Maple Gold Mines Ltd. has commenced a fully financed, 30,000-metre Phase II diamond drill program at its 100%-owned Douay and Joutel gold projects in Quebec, representing the largest expansionary drill campaign in the property's history.
• The program is funded by a recent $18-million capital raise (comprising a $5-million private placement and a $13-million LIFE offering) and aims to test down-plunge extensions of high-grade mineralization at Douay and extend known zones at the historical Joutel mine.
• The release details significant Phase I drilling results from early 2025, including high-grade intercepts at the Nika and 531 zones, and outlines plans for an updated Mineral Resource Estimate (MRE) and preliminary engineering studies expected in H1 2026.

Key Details

• Drill Program Scope:
  • Total size: 30,000 metres using four drill rigs.
  • Douay Project (20,000m): Focus on Phase II drilling to follow up on stepout success at Nika and 531 zones, testing extensions below current MRE and conceptual pit shells.
  • Joutel Project (10,000m): Focus on extending known high-grade gold mineralization along the past-producing Eagle-Telbel mine trend.
• Financial Position & Funding:
  • Cash position: Approximately $20.5 million.
  • Recent Capital Raise: $18 million total, consisting of:
    • $5 million non-brokered private placement (closed Sept 9, 2025) with 1:10 share consolidation.
    • $13 million upsized brokered LIFE offering (closed Oct 23, 2025).
• Phase I Drilling Results (Winter 2025):
  • 21 holes, 12,240 metres drilled; gold mineralization intersected in every hole.
  • Nika Zone:
    • DDH DO-25-338: 3.05 g/t Au over 55.8 m, including 4.93 g/t Au over 17 m, within a broader zone of 2.05 g/t Au over 108.6 m. (300m down-plunge stepout).
    • DDH DO-25-54Ext: 2.93 g/t Au over 20 m, including 5.54 g/t Au over 7 m, within a broader zone of 1.26 g/t Au over 60 m.
  • 531 Zone:
    • DDH DO-25-349: 3.00 g/t Au over 10.8 m, including 4.51 g/t Au over 5 m.
    • DDH DO-25-351: 4.87 g/t Au over 15 m, including 11.25 g/t Au over 5 m.
    • DDH DO-25-352: 1.96 g/t Au over 20.8 m, including 2.54 g/t Au over 12 m and 3.66 g/t Au over 11.4 m, within a broader zone of 1.41 g/t Au over 49.5 m.
• Planned Douay Drilling Allocation (20,000m):
  • Nika Zone: 12,000 m (testing up/down-plunge stepouts and new structural plunges).
  • 531 Zone: 6,000 m (testing plunges with stepouts to historical hole DO-21-310: 8.8 g/t Au over 28.5 m).
  • Douay West Zone: 1,000 m.
  • Porphyry West Zone: 1,000 m.
• Planned Joutel Drilling Allocation (10,000m):
  • Telbel Zone: 4,500 m (targeting near existing workings and up-plunge/along-strike targets).
  • Between Eagle and Telbel: 2,500 m (testing primary/secondary plunges along MICH).
  • Eagle Zone: 2,000 m (targeting unmined shallow mineralization).
  • Regional: 1,000 m.
• Other Exploration Activities:
  • Spring 2025 Sonic Drilling: 730 m across 27 holes identified a new target 2 km NE of Douay MRE with up to 0.92 g/t Au in bedrock.
  • Summer 2025 Fieldwork: Anomalous gold-in-soil results up to 34 ppb.
• Project Derisking & Engineering:
  • Updated MRE and NI 43-101 Technical Report for Douay/Joutel by SLR Consulting expected in H1 2026.
  • Preliminary engineering and trade-off studies (mining, processing, infrastructure, cash flow) led by Ausenco Engineering Canada, expected to complete in parallel with MRE.
• Equity Incentive Grants:
  • Board approved stock options for 1,975,000 common shares.
  • Exercise price: $1.38 per share.
  • Vesting: Three equal tranches over 24 months.
  • Exercisability: Five years from grant date.

Notable Quotes

• "As a result of our exploration success earlier this year and the execution of our reset strategy, we raised $18-million from new and existing long-term shareholders to support an aggressive drill program focused on resource growth and new discovery potential across the property," stated Kiran Patankar, president and chief executive officer. "We have always wanted to push harder at Douay/Joutel, and we are now in a position to complete the largest drill program in Maple Gold's history."