Mako Mining Acquires Goldsource Mines

Vancouver, BC, July 3, 2024—Mako Mining Corp. ("Mako") (TSXV:MKO)(OTCQX:MAKOF) has completed its acquisition of Goldsource Mines Inc. ("Goldsource") (TSXV:GXS)(OTCQX:GXSFF). The transaction involved Mako acquiring all issued and outstanding common shares of Goldsource in exchange for common shares of Mako. As a result, Mako now owns the Eagle Mountain Gold Project in Guyana.

The Goldsource shares are expected to be delisted from the TSX Venture Exchange. Mako plans to submit an application for Goldsource to cease being a reporting issuer under Canadian securities laws.

The new board of Mako is led by Eric Fier as Non-executive Chairman, with Akiba Leisman continuing as CEO. Additional management changes will follow in the coming weeks.

Wexford Capital LP's funds acquired 786,500 Mako shares and rights for 393,250 Mako shares, mainly due to their participation in Goldsource's private placement. Despite the acquisition, Wexford’s overall stake in Mako decreased by 8.26%.

Wexford now beneficially owns 37,340,823 Mako shares, and the right to purchase 393,250 more, representing approximately 48.15% on a partially-diluted basis.