Mr. Kiran Patankar reports

MAPLE GOLD ANNOUNCES $5 MILLION BROKERED PRIVATE PLACEMENT

Maple Gold Mines Ltd. has entered into an agreement with Beacon Securities Ltd. to act as sole lead agent and bookrunner, on behalf of a syndicate of agents to be formed, in connection with a best-efforts private placement offering of a combination of non-flow-through units of the company at a price of 6.5 cents per NFT unit and flow-through common shares of the company at a price of eight cents per FT share for total gross proceeds to the company of up to $5-million.

Each NFT unit will consist of one common share of the company and one-half common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one non-flow-through common share of the company at a price per warrant share of 10 cents for a period of 36 months from the closing of the offering.

Each FT share shall qualify as a flow-through share for the purposes of the Income Tax Act (Canada).

The offered securities will be offered pursuant to Part 5A of National Instrument 45-106 -- Prospectus Exemptions, to purchasers resident in Canada, and in other qualifying jurisdictions outside of Canada that are mutually agreed to by the company and Beacon pursuant to relevant prospectus or registration exemptions in accordance with applicable laws. The offered securities issued under the listed issuer financing exemption to Canadian subscribers will not be subject to a hold period in Canada.

The company will use an amount equal to the gross proceeds from the sale of the FT shares to incur eligible Canadian exploration expenses (as defined in the tax act): (i) that will qualify as flow-through mining expenditures (as defined in the tax act); and (ii) in respect of Quebec-resident subscribers who are eligible individuals under the Taxation Act (Quebec), that will also qualify for inclusion in the exploration base relating to certain Quebec exploration expenses, within the meaning of Section 726.4.10 of the Quebec tax act, and for inclusion in the exploration base relating to certain Quebec surface mining expenses, within the meaning of Section 726.4.17.2 of the Quebec tax act, related to the company's mineral properties located in Quebec, Canada, on or before Dec. 31, 2025. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2024. The company intends to use the net proceeds from the sale of NFT units for general and administrative expenses and unallocated working capital purposes over a period of 12 months following the closing of the offering.

There is an offering document related to this offering that can be accessed under the company's profile and on the company's website. Prospective investors should read this offering document before making an investment decision.

In addition to the offering, the company may undertake a concurrent private placement offering for gross proceeds to the company of up to $1-million, consisting of NFT units at the NFT issue price, pursuant to relevant prospectus or registration exemptions other than the listed issuer financing exemption, in accordance with applicable laws. The securities issued under concurrent private placement will be subject to a four-month hold period in Canada.

The offering is expected to close on or about Nov. 14, 2024, and is subject to the company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The concurrent private placement, if applicable, is expected to close on or after the closing date.

About Maple Gold Mines Ltd.

Maple Gold Mines is a Canadian advanced exploration company focused on advancing the district-scale Douay and Joutel gold projects located in Quebec's prolific Abitibi greenstone gold belt. The projects benefit from exceptional infrastructure access and boast approximately 400 square kilometres 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 per cent of the Eagle mine property, a key part of the historical Joutel mining complex.

The district-scale 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 project ripe for new gold and polymetallic 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.

We seek Safe Harbor.