Maple Gold Mines - Exploring a New VMS Discovery in Quebec

• Maple Gold Mines (MGM) CEO, Matthew Horner, discusses the company's 400 sq. km land package in Quebec's Abitibi greenstone belt.
• The company is working on a VMS (Volcanogenic Massive Sulphide) project named Morris, alongside their main project at Douay.
• Interest in junior gold equities is growing due to concerns about the banking crisis and the role of gold as a store of value.
• Maple Gold Mines is collaborating with Agnico Eagle on the VMS project; exploration work is focused on base metal targets.
• Deep drilling results from Douay and Joutel are expected later this year; MGM aims to upgrade resources and de-risk the project.

About Maple Gold Mines

Maple Gold Mines Ltd. (TSXV: MGM) is a Canadian gold exploration company focused on advancing the district-scale Douay gold project located in the prolific Abitibi Greenstone Belt in northern Quebec. With approximately 400 km2 of mineral claims, Maple Gold has one of the largest land holdings in the region. The company is currently exploring Douay in a 50/50 joint venture partnership with Agnico Eagle Mines Limited.

Interview with President & CEO Matthew Horner

Targeting a New VMS System

In a recent conversation with investors, Maple Gold President and CEO Matthew Horner provided an update on the company’s exploration plans, including initial work on a new volcanogenic massive sulphide (VMS) target called the Morris property. According to Horner, the area around Maple Gold’s Douay project hosts several large VMS deposits, so the geological setting is favorable for this style of mineralization.

To advance exploration at Morris, Maple Gold has added expert geologist Marina Iund to the team. Iund will support targeting and interpretation work on the new VMS project. The company also continues to leverage Gerald Riverin’s extensive VMS experience. Riverin sits on Maple Gold’s technical committee and will oversee the VMS program.

This year, exploration at Morris will start with sampling and mapping to identify outcrops and refine drill targets. Drilling could begin later in 2022 once priority areas are defined. The initial work program will be cost-effective, with more significant drilling budgets likely allocated in 2023.

Upcoming Catalysts from Regional Drilling

Beyond the new Morris target, Maple Gold is awaiting results from several deep drill holes at the Douay gold project, including holes down to 1,600 meters depth at the Douay West and Joutel areas. These assays are expected in late June and have potential to demonstrate significant resource expansion potential at depth across the district.

Additional shallow drilling results from the Eagle-Telbel mine area are also slated for release in the coming months. This news flow could highlight near-surface resource growth.

Aligning Exploration Plans with Agnico Eagle

According to Horner, Maple Gold continues to work closely with joint venture partner Agnico Eagle to systematically explore Douay and build out a multi-million ounce gold resource. However, the partners are currently limited to remaining exploration budgets defined under the initial joint venture agreement.

Once the budgets are fulfilled over the next 12-18 months, Maple Gold would need to commit matching dollars alongside Agnico Eagle to continue advancing Douay beyond the initial phased exploration plan.

Risks & Opportunities

Risks

• Exploration is inherently risky - the company may fail to discover economic mineralization
• Additional equity financings could dilute current shareholders
• Gold prices could decline, negatively impacting the value of resources
• Operating in Quebec poses regulatory/permitting risks

Opportunities

• Significant exploration upside at the large, district-scale Douay project
• Pending drill results could indicate new high-grade gold discoveries
• Experienced management team with track record of success
• Strong partnership with major producer Agnico Eagle
• Potential for new VMS discovery at the Morris target
• Undervalued compared to peers, upside revaluation potential

Conclusion

With a top-tier mining partner, district-scale land package and several promising exploration targets in the pipeline, Maple Gold offers investors excellent leverage to new high-grade gold discoveries in Quebec. The stock appears undervalued based on the significant resource expansion potential at Douay. Pending assay results over the next few months could act as share price catalysts if they confirm the presence of deeper gold mineralization. Gold investors should keep a close eye on this emerging exploration story.