Mako Mining Reissues Two Exploration Press Releases With the Same Technical Information Reviewed by a Different Qualified Person

Rhea-AI Summary

Mako Mining has reissued two exploration press releases due to a compliance issue. The original reviews were conducted by Mr. John Kowalchuk, whose qualification as a 'qualified person' lapsed on January 1, 2024. This affected the validity of the reviews for the January 24 and March 13, 2024 releases. To rectify this, Dr. Matthew D. Gray, a qualified person under NI 43-101, has reviewed and approved the contents of these reissued releases.

The company took this step to ensure compliance with NI 43-101 standards, which are important for maintaining investor confidence and regulatory compliance.

Positive

• Compliance with NI 43-101 standards reinforced by re-evaluation of previous releases.
• Dr. Matthew D. Gray’s involvement adds credibility due to his recognized status as a qualified person under NI 43-101.
• Proactive measures taken by Mako Mining to address and correct compliance issues promptly.

Negative

• Initial non-compliance with NI 43-101 standards due to Mr. John Kowalchuk's expired qualifications.
• Potential loss of investor confidence due to the lapse in qualification of the initial reviewer.
• Reissuing press releases could signal procedural oversight, potentially affecting the company’s credibility.

VANCOUVER, BC / ACCESSWIRE / May 30, 2024 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) ("Mako" or the "Company") announces that it has come to the Company's attention that the registration with the Engineers and Geoscientists of British Columbia of one of Mako's independent qualified persons, Mr. John Kowalchuk, senior geologist and a consultant to Mako, expired on January 1^st, 2024, and as a result he did not meet the definition of a "qualified person" under National Instrument 43-101 ("NI 43-101") at the time he reviewed and approved the Company's news releases dated January 24^th, 2024 and March 13^th, 2024 (the "News Releases"). Accordingly, Dr. Matthew D. Gray, a qualified person under NI 43-101 has now reviewed and approved the contents of these News Releases.

On behalf of the Board,

Akiba Leisman
Chief Executive Officer

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the highest-grade open pit gold mines globally. Mako's primary objective is to operate San Albino profitably and fund exploration of prospective targets on its district-scale land package.

For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 917-558-5289, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR www.sedar.com.

Forward-Looking Information: Statements contained herein, other than historical fact, may be considered "forward-looking information" within the meaning of applicable securities laws. The forward-looking information contained herein is based on the Company's plans and certain expectations and assumptions, including, without limitation, that the Company can operate San Albino profitably in order to fund exploration of prospective targets on its district-scale land package. Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including the risks and uncertainties as disclosed in the Company's public disclosure filings available on SEDAR at www.sedar.com. Forward-looking information contained herein represents management's best judgment as of the date hereof, based on information currently available. Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Mako Mining Corp.

View the original press release on accesswire.com

FAQ

Why did Mako Mining reissue the January 24 and March 13, 2024 press releases?

Mako Mining reissued the press releases because the initial reviewer, Mr. John Kowalchuk, did not meet the NI 43-101 'qualified person' standards at the time of the original reviews due to an expired registration.

Who reviewed the reissued press releases for Mako Mining?

Dr. Matthew D. Gray, a qualified person under NI 43-101, reviewed and approved the reissued press releases.

What is the significance of NI 43-101 compliance for Mako Mining?

NI 43-101 compliance is vital for ensuring that geological and technical information is reviewed by qualified persons, which maintains regulatory standards and investor confidence.

What impact could the expired qualification of Mr. John Kowalchuk have on Mako Mining?

The expired qualification could lead to a temporary loss of investor confidence and questions about the company's internal review processes.

When did the qualification of Mr. John Kowalchuk expire?

Mr. John Kowalchuk’s qualification expired on January 1, 2024.