Maple Gold Grows Douay/Joutel Gold Resources to Over 5.2 Million Ounces, Including Maiden Joutel Underground Estimate

• Total project Indicated Resources rose 77% to 905,000 ounces of gold (19.1 million tonnes at 1.55 g/t Au, or grams of gold per tonne of rock); Inferred Resources grew 70% to approximately 4.3 million ounces (130.2 million tonnes at 0.88 g/t Au)
• A maiden underground resource at Joutel adds 126,000 Indicated ounces at 4.53 g/t Au and 992,000 Inferred ounces at 4.11 g/t Au, situated adjacent to the historical Joutel Mining Complex, which produced 1.1 million ounces at 6.5 g/t Au from 1974 to 1993
• Douay open pit Indicated ounces grew 43% and Inferred ounces grew 33% versus the 2022 estimate, with only 52 new drill holes incorporated into the 2026 estimate
• Approximately 26,000 metres of drilling completed after the 1 November 2025 data cut-off are not yet included in the 2026 estimate
• The $13.9 million 2026 exploration budget is fully funded from existing treasury, covering approximately 32,000 metres of diamond drilling, permitting, and a concurrent internal scoping/engineering/trade-off study to assess potential mining scenarios

Maple Gold Mines Ltd. (TSXV: MGM | OTCQX: MGMLF | FSE: M3G0) is a well-funded Canadian gold exploration company focused on its 100%-owned Douay/Joutel Gold Project in Québec's Abitibi Greenstone Belt, which the company describes as a premier gold mining jurisdiction. The project spans approximately 481 square kilometres along 55 kilometres of the Casa Berardi Deformation Zone and benefits from direct highway access and proximity to operating gold mines including Casa Berardi and Detour Lake. The project includes a pit-constrained component at Douay and an underground component at Joutel, situated adjacent to the historical Joutel Mining Complex. The company also holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of that historical complex.

Updated 2026 Mineral Resource Estimate Increasing Total Project Resources by 77% Indicated and 70% Inferred

Compared to the prior 2022 estimate, the 2026 update shows growth across both resource categories and deposits. Total project Indicated Resources increased 77% to 905,000 ounces of gold at 1.55 g/t Au, while total Inferred Resources grew 70% to approximately 4.3 million ounces at 0.88 g/t Au. Combined, the Douay and Joutel deposits now hold over 5.2 million ounces across both categories. Indicated resources are those supported by sufficient drilling to establish a higher level of geological confidence, while Inferred resources represent material with lower certainty that may be upgraded through additional drilling.

The 2026 estimate incorporates 52 new drill holes totalling 31,186 metres at Douay since October 2021, against a total Douay drill database of 924 holes. At Joutel, the estimate draws on a historical database of 3,515 holes totalling 335,661 metres and represents the first independent resource compiled to Canadian NI 43-101 reporting standards. NI 43-101 is the Canadian regulatory standard for public disclosure of mineral resource estimates and is required for capital market transactions and regulatory filings.

The 2026 estimate was modelled using a long-term gold price of US$2,500 per ounce, compared to US$1,800 per ounce in the 2022 estimate, and a US$:C$ exchange rate of 1:1.35 versus 1:1.25 previously. The open pit resource at Douay is reported above a cut-off grade of 0.35 g/t Au, compared to 0.45 g/t Au in 2022, while the Douay underground cut-off moved to 0.98 g/t Au from 1.15 g/t Au. These changes in economic assumptions, alongside contributions from new drilling and updated geological modelling, inform the differences between the two estimates.

Maiden High-Grade Underground Mineral Resource Estimate at Joutel

The 2026 update includes a maiden independent underground resource at Joutel, comprising 126,000 Indicated ounces at 4.53 g/t Au and 992,000 Inferred ounces at 4.11 g/t Au, reported above a cut-off grade of 1.70 g/t Au. The deposit is situated proximal to the historical Joutel Mining Complex, where the Eagle, Eagle West, and Telbel mines produced approximately 1.1 million ounces of gold at an average grade of 6.5 g/t Au between 1974 and 1993.

The Joutel resource is divided between two zones. The Eagle zone holds 85,000 Indicated ounces at 5.17 g/t Au and 540,000 Inferred ounces at 4.28 g/t Au. The Telbel zone contributes 41,000 Indicated ounces at 3.62 g/t Au and 453,000 Inferred ounces at 3.92 g/t Au. Both zones remain open along strike and at depth.

On the combined significance of the Douay and Joutel results, 

President and CEO Kiran Patankar stated: 

"The 2026 MRE marks a major milestone for Maple Gold, delivering substantial resource growth at Douay based on limited drilling and establishing a maiden high-grade underground Mineral Resource at Joutel, which together have added 394,000 Indicated and 1,772,000 Inferred gold ounces (+77% and +70%, respectively) to the Company's 2026 Mineral Resource Inventory relative to the 2022 MRE. This rapid advancement trajectory highlights the strategic value of Douay/Joutel, a rare, district-scale, multi-million-ounce gold project with demonstrated geological upside located in Québec's established, infrastructure-rich Abitibi Gold Belt."

Ongoing Fully Funded Exploration and Near-Term Development Priorities

Maple Gold's 32,000-metre 2026 winter drill programme was ongoing at the time of this announcement. Approximately 58 holes totalling 26,000 metres were completed after the 1 November 2025 data cut-off for the 2026 estimate, with assay results reported for 28 holes and results pending for 30 more. A further 6,000 metres has been approved and permitted, including step-out and deeper holes at both Douay and Joutel. None of these results are reflected in the current estimate.

The $13.9 million 2026 exploration budget is fully funded from the company's existing treasury. The budget covers approximately 32,000 metres of diamond drilling, regional sonic drilling, assaying, permitting, personnel, and site support costs. Running concurrently with the drill programme, Maple Gold has planned an internal scoping/engineering/trade-off study to assess potential mining scenarios at Douay/Joutel.

Planning is also underway for fully funded second-half 2026 and 2027 drill programmes, focused on step-out and depth extensions at both Douay and Joutel as well as high-priority discovery targets across the broader property. The 481-square-kilometre land package hosts approximately 55 kilometres of the Casa Berardi Deformation Zone that have not yet been tested through drilling.

Outlook

The 2026 MRE establishes a new resource baseline for the Douay/Joutel project and introduces the first independent underground estimate at Joutel alongside updated figures for Douay. Near-term milestones include the release of pending assay results from the ongoing winter programme, the filing of a full NI 43-101 technical report on SEDAR+ within 45 days of 27 April 2026, and the completion of the internal scoping/engineering/trade-off study. Planning for fully funded second-half 2026 and 2027 drill programmes is currently underway.

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