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Douay, Quebec - Maple Gold Commences Induced Polarization Work to Test for Potential Higher-Grade Gold Lenses

Feb 18, 2020

Montreal, Quebec--(Newsfile Corp. - January 29, 2020) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company")  is pleased to announce that induced polarization ("IP") work recently commenced at Douay, with the aim of establishing new high-grade discovery targets during the first quarter. One area prospective for new higher grade discoveries is located approximately 6km NE of the Douay deposit's 531 Zone.

Several chargeability anomalies were defined during a 2019 IP survey, including a broad northern anomaly (the "North IP Target") about 3km long within the same package of rocks as the recently closed Vezza Mine (located only 12km east of the Douay property limit). Discovering new high-grade lenses of mineralisation within the Company's greater property package has the potential to contribute significantly to conceptual mining scenarios and the Company has therefore earmarked funds for initial scout drilling in the event favourable results are obtained from the infill IP work (7 lines) at the North IP Target. Three test lines will also be undertaken in the 531 Zone area (See figure 1 below).

Maple Gold's President and CEO, Matthew Hornor, commented: "In addition to our drilling plans within the known resource area, we are very excited to firm up new discovery targets across our greater property package and believe the potential to discover new higher-grade gold lenses remains excellent. The broad North IP Target we defined last year sits within an area prospective for higher grade gold mineralisation similar to other nearby mines along the same break (Casa Berardi 40km to the west and Vezza 12km to the east of Douay)."

Both Casa Berardi and Vezza deposits are structurally-controlled and hosted within the Taïbi Group sedimentary rocks (Vezza), and/or the volcanic rocks immediately to the south (Casa Berardi). At Casa Berardi, past production plus resources equal approximately 6.2Moz Au, mainly in gold-bearing quartz-(carbonate) veins. Current reserve grades are 5.3 g/t Au underground and 2.3 g/t Au in-pit. The Vezza deposit, located in a similar geological (sediment-hosted) and structural context, but with broader auriferous silica-carbonate alteration rather than veins, has past production plus current resources of about 0.4Moz at an average grade of about 6 g/t Au. This geological context also occurs over the northern portion of the current Douay property (Figs. 1, 2), with the North IP Target being largely undrilled.

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