TSX-V: MKO; OTCQX: MAKOF|
VANCOUVER, BC, Oct. 31,
2022 /CNW/ - Mako Mining Corp. (TSXV: MKO)
(OTCQX: MAKOF) ("Mako" or the "Company"), a Canadian company
operating in Nicaragua, has been
analyzing the October 24, 2022
announcement by the United States Department of the Treasury's
Office of Foreign Assets Controls ("OFAC") relating to new U.S.
sanctions imposed on the General Directorate of Mines in
Nicaragua ("DGM") pursuant to
Executive Order ("EO") 13851, as well as the issuance of EO
14088 ("October 24
measures").
While the Company is currently undertaking an internal review of
the impact of the October 24 measures
on current and future planned operations in Nicaragua, in coordination with its U.S. and
Canadian advisors, and consistent with its commitment to comply
with applicable legal and regulatory requirements, the Company does
not expect any material changes to its Nicaragua operations due to the October 24 measures.
Akiba Leisman, CEO of Mako states
that "we are committed to Nicaragua and the growth of our San Albino
mining operations. We are especially proud of the commitment and
dedication of our employees, the economic growth and success of our
local communities and the broader Nueva Segovia region, and look
forward to the continuing success of our mine and Company."
The Company will provide further updates once it has additional
information, following discussions with its advisors and the U.S.
government, as necessary.
On behalf of the Board,
Akiba
Leisman
CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development
and exploration company. The Company operates the high-grade San
Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the
highest-grade open pit gold mines globally. Mako's primary
objective is to operate San Albino profitably and fund exploration
of prospective targets on its district-scale land package.
Forward-Looking
Information
Statements contained herein that are not historical fact are
considered "forward-looking information" within the meaning of
applicable securities laws. Forward-looking information is based on
management's current expectations, beliefs and assumptions, and
includes, without limitation: that the Company does not expect any
material changes to its Nicaragua
operations due to the October 24
measures; that the Company looks forward to the continuing success
of its mine and the Company; that the Company will provide further
updates once it has additional information, following discussions
with its advisors and the U.S. government, as
necessary; and that the Company's primary objective is
to operate San Albino profitably and fund exploration of
prospective targets on its district-scale land package. Such
forward-looking information is subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking information,
including, without limitation, that the October 24 measures do result in the need for
material changes to the Company's Nicaragua operations, impacting the continuing
success of the San Albino mine and the Company; risks and
uncertainties relating to other political risks involving the
Company's exploration and development of mineral properties
interests, including any future EOs and sanctions imposed on
Nicaragua; the inherent
uncertainty of cost estimates and the potential for unexpected
costs and expense; commodity price fluctuations, the inability or
failure to obtain adequate financing on a timely basis and other
risks and uncertainties disclosed in the Company's public filings
at www.sedar.com. Forward-looking information contained herein is
based on management's best judgment as of the date hereof, based on
information currently available and is included for the purposes of
providing investors with the Company's plans and expectations in
connection with its business and operations, share and loan
capital, and may not be appropriate for other purposes.
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 release.
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SOURCE Mako Mining Corp.
