Maple Gold Extends High-Grade Gold System at Joutel, Sets Stage for Maiden Resource Estimate in 2026

• Drill hole JO-26-11 returned 8.6 grams of gold per tonne (g/t) over 10.4 metres at the Telbel Mine area, including a higher-grade core of 17.9 g/t gold over 3.9 metres.
• Two follow-up holes at the Eagle Mine area confirmed gold-bearing rock 50 metres beyond mined-out areas, returning up to 2.1 g/t gold over 12.9 metres.
• Drilling to date has traced the Joutel gold system up to 450 metres past the boundaries of the historic underground workings, with the system remaining open in multiple directions.
• A maiden mineral resource estimate (MRE) for Joutel and an updated MRE for the Douay Gold Project are both expected in the first half of 2026.
• Maple Gold's fully funded 2026 exploration budget of $13.9 million, backed by a $30 million treasury, covers 32,000 metres of planned diamond drilling, regional sonic drilling, assaying, permitting, and field support costs.

Maple Gold Mines Ltd. (TSXV: MGM | OTCQX: MGMLF | FSE: M3G0) is a Canadian-based gold exploration company focused on advancing its 100%-owned, district-scale Douay/Joutel Gold Project in Quebec's Abitibi Greenstone Belt. The company controls approximately 481 square kilometres of prospective ground along a 55-kilometre corridor of the Casa Berardi Deformation Zone. Its landholding includes the Douay Gold Project, which hosts an established resource of 511,000 ounces in the Indicated category and 2.53 million ounces in the Inferred category, as well as the past-producing Joutel Mine Complex, where the Eagle, Eagle West, and Telbel mines produced 1.1 million ounces of gold at an average grade of 6.5 g/t gold between 1974 and 1993. The company also holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel Mining Complex, and maintains a portfolio of regional exploration targets that have yet to be tested through drilling.

High-Grade MICH Horizon Intercepts at Telbel and Eagle Confirm Gold System Extends up to 450 Metres Beyond Historic Underground Workings

The latest results from Maple Gold's ongoing winter drill programme at Joutel cover seven drill holes targeting areas at and beyond the margins of the historic Eagle and Telbel underground mine workings. The primary geological target at Joutel is the Main Iron Carbonate Horizon, or MICH, a continuous iron-rich rock unit that hosted the bulk of gold production during the historic mine's operation. Maple Gold's step-out drilling strategy tests areas along strike and up-plunge from previously mined-out stopes (individual excavated mine chambers) to evaluate how far the MICH-hosted gold system extends beyond known limits.

The headline result comes from drill hole JO-26-11 in the Telbel Mine area, which returned two separate high-grade intervals within the MICH. The first returned 8.6 g/t gold over 10.4 metres, including 17.9 g/t gold over 3.9 metres and a peak of 25.4 g/t gold over 1.2 metres. A second, deeper interval in the same hole returned 3.8 g/t gold over 17.1 metres, including 16.9 g/t gold over 3.3 metres. These intercepts sit approximately 50 metres below drill hole JO-25-05, which previously returned 8.5 g/t gold over 8.0 metres roughly 100 metres above the Telbel Mine workings. Three additional holes drilled northwest of the Telbel mine shaft all intersected the MICH horizon, with JO-25-09 returning 4.1 g/t gold over 3.0 metres and JO-25-10 returning 2.9 g/t gold over 3.3 metres.

At the Eagle Mine area, two follow-up holes successfully intersected the MICH horizon approximately 50 metres beyond the limits of the mined-out stopes. Drill hole EM-26-19 returned 2.1 g/t gold over 12.9 metres and a second interval of 1.4 g/t gold over 17.0 metres, while EM-26-20 delivered 1.1 g/t gold over 13.7 metres. Combined with earlier results, the current programme has extended confirmed gold mineralisation at Joutel up to 450 metres beyond the historic underground workings, with the system remaining open in multiple directions. 

President and CEO Kiran Patankar commented:

"Multiple step-out holes in this first drilling phase have now returned thick, high-grade gold intercepts at shallow depths within the primary stratigraphic target proximal to existing underground infrastructure, highlighting the opportunity for significant near-mine resource additions."

Maiden Joutel MRE and Updated Douay MRE on Track for H1 2026 Delivery

Two mineral resource estimates are due for delivery in the first half of 2026: an updated MRE for the Douay Gold Project and a maiden MRE for the Joutel Gold Project. An MRE is an independent, standardised calculation of the estimated amount of gold contained within a project, expressed in tonnes of rock and gold grade. Results are reported at two confidence levels: Indicated resources, based on closer-spaced drilling, and Inferred resources, based on wider-spaced data. The maiden Joutel estimate will be the first formal resource calculation for the project and will be based on drill data available prior to the current programme's cut-off date.

The existing Douay resource, established using 2022 data, stands at 511,000 ounces Indicated and 2.53 million ounces Inferred. The updated estimate will incorporate more recent drilling across several key zones, including the Nika, 531, Douay West, and Porphyry West Zones, which have been tested during the current winter programme. Alongside the two resource estimates, the company is also advancing an internal scoping and engineering study for the Douay/Joutel Gold Project.

President and CEO Kiran Patankar stated: 

"Drilling is also delivering key geological insights to validate and expand our model as we look to extend known gold mineralisation beyond the historically mined-out stopes from a high-grade, past-producing gold mine complex that has seen limited modern exploration since operations ceased during a low gold price environment in 1993." 

The maiden Joutel MRE will not incorporate the high-grade intercepts reported in this release, as those results fall outside the estimate's data cut-off. Any further results from the ongoing programme would be candidates for inclusion in a subsequent update.

Fully Funded $13.9 Million 2026 Exploration Budget Supports Continued Drilling and New Discovery Targets

Maple Gold has approved a total 2026 exploration budget of $13.9 million, to be drawn from the company's existing $30 million treasury. The budget covers permitting, 32,000 metres of diamond drilling, regional sonic drilling, assaying, personnel, camp, and site support costs across all active projects. The 30,000-metre Douay/Joutel winter drill programme is approximately 73% complete, with 48 holes totalling roughly 21,800 metres drilled to date. Assay results have been reported for 14 of those 48 completed holes, with additional results to be released as they are received following quality control validation.

Beyond Douay and Joutel, the 2026 budget includes an inaugural 2,000-metre diamond drill programme at the company's Morris VMS (volcanogenic massive sulphide) Project, located east of Matagami in Quebec. The programme is expected to be completed in H1 2026 and will evaluate prospective stratigraphy known to be associated with the Matagami VMS deposits and mines in the surrounding region. Maple Gold's property also hosts a number of regional exploration targets along the 55-kilometre strike length of the Casa Berardi Deformation Zone that have not yet been drill-tested.

Planning for expanded 2026 and 2027 exploration programmes is currently under way. Including the seven holes reported in this release, the company has now disclosed results for 14 holes out of 48 completed to date, representing a remaining pipeline of 34 holes for which assays are pending. Additional drilling beyond the current 30,000-metre programme is planned for 2026.

Conclusion

Maple Gold's 2026 programme is advancing across several fronts simultaneously. At Joutel, step-out drilling has confirmed that the MICH-hosted gold system extends well beyond the boundaries of the historic mine, with high-grade intercepts returned at multiple locations and depths across both the Telbel and Eagle Mine areas. The maiden Joutel MRE and an updated Douay MRE are both expected before the end of H1 2026, representing the first formal resource quantification for Joutel and a refresh of the existing Douay estimate. Concurrently, the inaugural drill programme at the Morris VMS Project is under way, and planning for the next phase of exploration is already in progress. Results from the 34 drill holes for which assays remain pending will be released as they clear quality control, with additional drilling at Douay/Joutel also planned for the remainder of the year.

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