Maple Gold Announces Final Closing of Brokered Private Placement for Total Proceeds of $5.6 Million

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Vancouver, November 19, 2024 - Maple Gold Mines Ltd. (TSXV: MGM) ("Maple Gold" or the "Company") is pleased to announce that further to its news releases on November 4, 2024 and November 14, 2024, the Company has now closed its previously announced concurrent private placement offering (the "Concurrent Private Placement"), pursuant to which the Company has issued an additional 9,773,154 non-flow-through units of the Company (the "NFT Units") at a price of $0.065 per NFT Unit (the "NFT Issue Price") for additional gross proceeds to the Company of approximately $635,255. The aggregate gross proceeds raised by the Company pursuant to the fully subscribed offering of NFT Units and flow-through common shares of the Company that closed on November 14, 2024 (the "LIFE Offering", and together with the Concurrent Private Placement, the "Offering") and the Concurrent Private Placement is now approximately $5,635,255. The Company completed the Concurrent Private Placement due to strong demand for the LIFE Offering and to allow for participation from certain insiders of the Company. The Offering was led by Beacon Securities Limited ("Beacon") as sole lead agent and bookrunner, on behalf of a syndicate of agents, including Agentis Capital Markets Limited Partnership and Paradigm Capital Inc. (together with Beacon, the "Agents").

"We are grateful for the support of our new and existing shareholders and institutional funds in our recent financing efforts," stated Kiran Patankar, President and CEO of Maple Gold. "The Company is heading into the winter exploration season with an even healthier treasury to support aggressive resource expansion and de-risking of our multi-million-ounce Douay gold project, systematic testing of our past-producing, high-grade Joutel gold project, and the potential to make new discoveries across our under-explored Québec property portfolio."

Each NFT Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one non-flow-through common share of the Company (a "Warrant Share") at a price per Warrant Share of $0.10 until November 14, 2027.

The NFT Units were offered pursuant to relevant prospectus or registration exemptions of National Instrument 45-106 - Prospectus Exemptions to purchasers resident in Canada, and in other qualifying jurisdictions outside of Canada that were mutually agreed to by the Company and Beacon pursuant to relevant prospectus or registration exemptions in accordance with applicable laws. The NFT Units issued under the Concurrent Private Placement are subject to a four month hold period in Canada expiring on March 20, 2025.

The Company intends to use the net proceeds from the sale of securities under the Offering for exploration work on the Company's projects in Québec and for general and administrative expenses and unallocated working capital purposes over a period of 12 months following closing of the Offering.

In connection with the Concurrent Private Placement, the Company intends to: (i) pay a corporate finance fee to the Agents equal to $14,342.10; and (ii) issue a total of 220,647 non-transferable compensation warrants of the Company (the "Compensation Warrants") to the Agents. Each Compensation Warrant entitles the holder to acquire one common share of the Company (each, a "Compensation Share") at a price of $0.065 per Compensation Share until November 19, 2027. The Offering remains subject to final acceptance of the TSX Venture Exchange.

Certain officers and directors of the Company participated in the Concurrent Private Placement, acquiring an aggregate of 1,649,000 NFT Units. Participation by such insiders constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's market capitalization.

The securities issued pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing the district-scale Douay and Joutel gold projects located in Québec's prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km² 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.

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. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

"Kiran Patankar"

Kiran Patankar, President & CEO

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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 Offering (including the tax treatment of the FT Shares and use of proceeds of the Offering), the 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 under the Company's profile on SEDAR+ at www.sedarplus.ca or on 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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