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Douay, Quebec - Maple Gold Receives $400,000 in Tax Refunds and Plans Additional Artificial Intelligence Study to Enhance Predictive Modelling

Mar 2, 2020

 Maple Gold Mines Ltd.  (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to announce that the Company has received a Notice of Assessment from Revenu Quebec ("RQ") for $399,966 in tax refunds pertaining to qualified 2018 exploration expenditures. The Company has received the first installment of $325,644 from RQ, and expects to receive the balance in the coming weeks.

Maple Gold is also planning to complete additional Artificial Intelligence ("AI") work to update and expand on a previous AI study that was completed at the Douay Project back in 2008. Maple Gold has made significant progress with its in-house modelling efforts over the course of the last 18 months, delivering a new 3D model that incorporates significantly more data than would have been available a decade ago along with updated geological and structural interpretations.

The 2008 study was completed by Diagnos Inc., and covered an area of about 50km², extending about 7km to the NW beyond what is now known as the Resource Area, but without covering the 531 and Main Zones. The dataset used included 67,836 samples from 505 drill-holes, as well as geophysical, lithological, geochemical and alteration data, with a total of 21 variables considered. Maple Gold imported one of the resulting prospectivity maps into the Company's GIS compilation in order to compare the higher-potential areas defined in this work with those outlined with traditional data layering in GIS. The results of this exercise were fairly compelling, with the historical AI work supporting the potential for additional zones of mineralisation within and beyond what is now the Nika Zone and even stronger indications from the predictive modeling for higher grade gold mineralisation beyond the current conceptual pits, most notably to the NW of the NW Zone, and also outlining a large essentially undrilled target south of the Porphyry Zone (see hatched area in Figure 1 below).

Maple Gold's VP, Exploration, Fred Speidel, commented: "We view these numerical approaches to target definition as another valuable layer of information that, if adequately supported by key underlying datasets and input from geologists, has the potential to further optimize drill targeting. The previous study did not cover the 531 or Main zones or their extensions, so we are keen to update and expand this work there and incorporate another tool into our targeting efforts."

This updated AI exercise will allow us to apply more powerful algorithms than previously, to expand the area of coverage to include 531 and Main zones that are of particular interest to us given recent drilling and geophysical results there, and also to include some additional concepts recently developed by the current team. Furthermore, the South Porphyry target, which overlaps with the 531 SW Target defined earlier, only has two drill holes on its northern edge, where significant syenite was intersected with several (narrow) gold intercepts. We plan to complete an IP survey over this area in order to determine the possible distribution of sulfides, prior to initial drill testing.

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