Maple Gold Announces Early Exercise of Warrants by Michael Gentile

Rhea-AI Summary

Maple Gold (OTCQX: MGMLF) received $2,315,779.10 from the early exercise of 2,724,446 warrants by investor Michael Gentile, raising his undiluted ownership to ~8.4% from ~4.7%.

The company now reports approximately $29 million cash, no debt and ~70 million shares outstanding, supporting a fully funded 30,000-metre drill program and upcoming H1 2026 catalysts including updated mineral resource estimates.

Positive

• $2.32M raised from warrant exercise
• Cash ~ $29M and no debt provides runway
• Fully funded 30,000-metre expansionary drill program

Negative

• Common share count at approximately 70M after issuance, a shareholder dilution factor
• New shares issued are subject to a 12-month lock-up until September 9, 2026

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQX: MGMLF) (FSE: M3G0) ("Maple Gold" or the "Company") is pleased to announce that it has received total proceeds of $2,315,779.10 from the early exercise of 2,724,446 common share purchase warrants of the Company ("Warrants") by strategic investor Michael Gentile. Mr. Gentile's resulting ownership interest in the Company has increased from approximately 4.7% to approximately 8.4% on an undiluted basis. The Warrants had an exercise price of $0.85 per common share of the Company and were originally issued on September 9, 2025, with an expiry date of September 9, 2028¹.

Following the exercise of the Warrants, Maple Gold has approximately $29 million in cash, no debt and approximately 70 million common shares issued and outstanding. The Company's strong balance sheet provides ample runway to support the continued exploration and development of its 100%-owned Douay Gold Project ("Douay") and Joutel Gold Project ("Joutel") (together, "Douay/Joutel" or the "Property") located along the Casa Berardi-Douay Gold Trend in Québec, Canada.

Kiran Patankar, President and CEO of Maple Gold, stated: "I would like to sincerely thank Michael Gentile for his continued support and confidence, as demonstrated by this early exercise of Warrants. These proceeds further strengthen our balance sheet and will support the continued advancement and de-risking of Douay/Joutel. We believe the Company is well positioned with several near-term catalysts, including an updated mineral resource estimate and ongoing drill results from our fully funded 30,000-meter expansionary drill program, the largest in the Property's history."

Michael Gentile added: "My decision to early exercise these warrants and substantially increase my ownership interest in Maple Gold reflects my strong conviction in the Company's assets, team and disciplined approach to growth. I am encouraged by the positive steps being taken to unlock the inherent value of this highly prospective land package and am pleased to continue supporting the Company as it advances its strategic objectives."

The common shares issued upon exercise of the Warrants remain subject to lock-up agreements for a 12-month hold period that extends until September 9, 2026 (unless otherwise accelerated)¹, applicable Canadian securities laws and the policies of the TSX Venture Exchange.

Key Catalysts

The Company expects to deliver several important catalysts in H1 2026 aimed at establishing a significant district-scale gold camp in the heart of the Abitibi. These include the following:

• Updated mineral resource estimate ("MRE") for Douay and maiden MRE for Joutel, neither of which include results from the current drill program underway.

• Preliminary project trade-offs and internal scoping/engineering study to support potential PEA in H2 2026.

• Further results from an ongoing, fully funded 30,000-metre winter drill program at Douay/Joutel. Seven (7) holes (3,100 m; ~10% of approved metres) have been reported out of the 39 holes (~17,000 m; ~57% of approved metres) completed to date.

• Additional step-out drill results at Douay/Joutel expected to support further resource growth, refinement of priority targets across the Property and expanded drill programs through 2027, which the Company currently expects to fund from its existing treasury.

Upcoming Investor Events

• March 18 - 19, 2026: Swiss Mining Institute, Zurich, CH
• March 26, 2026: GCFF Gold Conference Series (Virtual)
• May 1 - 2, 2026: NRS Expo Featuring Michael Gentile, Atlanta, GA
• May 19 - 21, 2026: CG 5^th Annual Global Mining & Metals Conference, Lake Las Vegas, NV
• June 2 - 4, 2026: The Mining Investment Event + Core Shack, Quebec City, QC
• September 22 - 25, 2026: Precious Metals Summit, Beaver Creek, CO

About Maple Gold

Maple Gold Mines Ltd. is a well-funded Canadian advanced exploration company focused on advancing its 100%-owned, district-scale Douay/Joutel Gold Project located in Québec's prolific Abitibi Greenstone Gold Belt. Douay/Joutel benefits from exceptional infrastructure access and boasts ~481 square kilometers of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel Mining Complex.

Maple Gold's property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the property ripe for new gold and VMS discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

"Kiran Patankar"

Kiran Patankar, President & CEO

For Further Information, Please Contact:

Sarah Herriott, Vice President, Investor Relations & Corporate Development

Phone: +1 (647) 265-8688
Email: sherriott@maplegoldmines.com
Website: www.maplegoldmines.com
LinkedIn: https://www.linkedin.com/company/maplegoldmines

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Forward-Looking Statements and Cautionary Notes:

This news release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include, but are not limited to, statements about the execution of the Company's exploration plans through 2027, advancing systematic resource growth at Douay/Joutel, evaluation of regional targets across the Company's district-scale portfolio, resource expansion and discovery potential across the Company's gold projects, and its intention to pursue such potential, and the Company's exploration work and results from current and future work programs. Although the Company believes that forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to be correct, as forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or results could differ materially from the Company's expectations and projections, and readers are cautioned not to place undue reliance on forward-looking statements. For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company's filings with Canadian securities regulators available on the System for Electronic Document Analysis and Retrieval Plus (SEDAR+) at www.sedarplus.ca or the Company's website at www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSX Venture Exchange, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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¹ See news release dated September 9, 2025 and titled: "Maple Gold Closes Oversubscribed $5 Million Private Placement".

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289222

FAQ

How much did Michael Gentile pay to exercise MGMLF warrants on March 19, 2026?

He paid $2,315,779.10 to exercise 2,724,446 warrants. According to the company, the exercise price was $0.85 per share, and the proceeds increased the company's cash balance and strengthened the balance sheet.

What is Michael Gentile's ownership stake in Maple Gold (MGMLF) after the March 19, 2026 warrant exercise?

His undiluted ownership rose to approximately 8.4% from ~4.7%. According to the company, the early exercise increased his position and reflects his continued strategic support for the company.

How does the MGMLF cash position change after the warrant exercise on March 19, 2026?

Maple Gold reports approximately $29 million in cash and no debt after the exercise. According to the company, this cash position provides runway to fund exploration and development at Douay and Joutel.

Are the new MGMLF shares issued on March 19, 2026 freely tradable immediately?

No, the common shares issued remain subject to a 12-month lock-up until September 9, 2026 unless accelerated. According to the company, this lock-up and applicable securities rules restrict immediate trading of those shares.

What near-term catalysts did Maple Gold (MGMLF) highlight after the March 19, 2026 transaction?

The company expects an updated MRE for Douay and a maiden MRE for Joutel in H1 2026, plus ongoing drill results. According to the company, these catalysts are tied to a fully funded 30,000-metre drill program and further study work.