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Maple Gold Receives Permits and Ramps up Drilling at Douay

Cory
February 27, 2018

Here is the latest news from Marple Gold Mines. I am a shareholder and looking forward to what this year’s drill program will yield, hopefully tying together some of the deposits that ware outside the current pit. I will have a followup interview with the Company shortly to answer some of my and your questions.

Click here to visit the Maple Gold Mines website.

MONTREAL, Feb. 27, 2018 (GLOBE NEWSWIRE) — Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V:MGM) (OTCQB:MGMLF) (Frankfurt:M3G) is pleased to provide an update on the current drill campaign at the Douay Gold Project (“Douay”). Maple Gold has now received three (3) of the four (4) requested permits and anticipates receiving its final permit very shortly. Two diamond core drills (“DDH”) are now testing infill and step-out holes and a third drill rig has arrived to site to begin testing extension targets in the Porphyry to NW Zone gap (see Figure 1).

The Company has initiated property-wide drill site preparation for the recently permitted sites and an additional two DDH rigs will be mobilized to the project as soon as initial sites are ready. One of the new permits covers greenfields syenite and VMS targets that start ~4 km NW of the Resource Area and continue for 5 km along the northern strand of the Casa Berardi Deformation Zone (see Figure 1).

Maple Gold’s President & CEO, Matthew Hornor, stated“We are ramping up toward the full complement of drills and weather-permitting should still reach our 25,000 metre target for this winter’s campaign. This is an exciting time for our team and our shareholders as we begin to test numerous drill targets simultaneously at Douay.”

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/90b353e0-a262-4f46-9cbb-63301ed6bc7b

A final DDH permit is pending that covers additional drill sites within the Resource Area, as well as the compelling 6 km by 1 km NE Syenite Target (see press releases November 29, 2017 and January 10, 2018). The NE Syenite Target intrusion is not present on government maps and was identified by evaluating results from the limited amount of historical top-of-bedrock RC drilling that was previously completed at Douay in the 1980’s. Maple Gold geologists believe this approach will help the Company generate numerous new target areas within the 55 km of strike along the Casa Berardi Deformation Zone. All permits for the Company’s planned RC top-of-bedrock drilling have now been received. Site preparation is already underway and the 3,000+ metres of RC drilling is expected to commence within approximately 10 days.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e5fd05d0-ec58-4893-9689-e630c002bd31

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold.  Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.  Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.

About Maple Gold

Maple Gold is a well-funded gold exploration company focused on advancing a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 370 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has a significant drill campaign under way to expand on the known Resource Areas and test new discovery targets within the Company’s 55 km of strike along the Casa Berardi Deformation Zone. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang
VP, Corporate Development
Office: +1 416.306.8124
Email: jlang@maplegoldmines.com

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 PRESS RELEASE.

Forward Looking Statements:
This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements include, but are not limited to, statements with respect to the mineral resource estimate, including statements regarding contained ounces, optimal cut-off grade and average gold grade, as well as statements regarding upcoming exploration programs. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.

Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.comThe Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Figure 1
Figure 1
Figure 1: Drill plan highlighting recently completed drill-holes and currently permitted sites
Douay Project Site Image
Diamond Drill Feb 2018
Second drill rig now testing step-out targets at Douay
Discussion
4 Comments
    CFS
    Feb 27, 2018 27:49 AM

    Osisko Mining drills 2.9 m of 71.9 g/t Au at Windfall

    2018-02-27 08:05 ET – News Release

    Mr. John Burzynski reports

    OSISKO INTERSECTS 71.9 G/T AU OVER 2.9 METRES AT LYNX

    Osisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban ownship, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and around the main Windfall gold deposit and the adjacent Lynx deposit (located immediately northeast of Windfall).

    CFS
    Feb 27, 2018 27:51 AM

    Almadex to spin out exploration projects, royalties

    2018-02-26 12:24 ET – News Release

    Mr. Morgan Poliquin reports

    NEWCREST TO ACQUIRE INDIRECT 19.9% INTEREST IN EL COBRE THROUGH INVESTMENT OF CAD$19 MILLION; ALMADEX TO SPIN-OUT MINERAL EXPLORATION AND ROYALTY ASSETS

    Feb 27, 2018 27:18 PM

    Hi Cory,Im excited to hear what Matthew has to say…..he recently bought more shares(I think it was last week)on the open market!!
    With the clobbering of the PM’S today do you think Maple will test its lows and will you be buying more shares if it does or just staying put??
    Thanks Cory

      Feb 27, 2018 27:38 PM

      Hey Scott, right now I am staying put because I hold shares and warrants already. If it were to drop back to to C$.20 then I would be tempted to buy more but I really don;t think it will. I see more around C$.23 as the furthest pullback. They are well funded and have a lot of (cheap) drilling to do this year. That said I do not think this will be a 10 bagger but there is some nice upside moving into next year.

      Thanks for the comment! Let me know if you have any more questions.