Maritime Resources Corp V.MAE

Hammerdown Gold Project V.MAE

[Betteryear2]

Hammerdown contains Proven and Probable mineral reserves of 272,000 ounces ("oz") gold at 4.46 grams per tonne ("gpt") including Proven reserves of 106,000 oz gold grading 5.96 gpt and Probable reserves of 166,000 oz gold grading 3.95 gpt (2) based on the 2022 Technical Report (as defined below) for the Project. The 2022 Technical Report showed after-tax economics of $103 million NPV (5%), an internal rate of return of 48% and All-In Sustaining Costs (AISC) of US$912/oz at a gold price of US$1,750/oz. (2) At a spot gold price of US$2,300/oz the after-tax economics are $215 million NPV (5%) with an internal rate of return of 91%. With the acquisition of the Pine Cove mill facility in August 2023 (Figure 1), the Company believes that lower capital and operating costs can be realized due to its proximity to Hammerdown and the complete gold circuit.(1) The 2022 Technical Report is available on the Company's website at www.maritimeresourcescorp.com or on SEDAR+ at www.sedarplus.ca.

Maritime Provides Hammerdown and Point Rousse Project Update (newsfilecorp.com)