TMAC Resources Updates on Development Progress and Ongoing Exploration Drilling of the BTD Zones at Doris North Mine, Hope Bay

TMAC Resources Inc. (TSX:TMR) (“TMAC” or the “Company”) is pleased to report on the progress of the Doris North below the diabase dyke “BTD” access development and initial exploration drilling results BTD at the Doris Mine, located in the northern part of TMAC’s Hope Bay Property, located in the Kitikmeot region of Nunavut, Canada.

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Highlights Doris North BTD:

• TM50049 Doris North BTD 40.5 g/t Au over 1.2 metres
• TM50050 Doris North BTD 14.2 g/t Au over 1.8 metres
• TM50051 Doris North BTD 7.0 g/t Au over 3.1 metres

Dr. Catharine Farrow, Chief Executive Officer of TMAC, stated, “The Doris North BTD underground drilling began from BTD development in March and results reported today are interpreted to have intersected the Doris North stratigraphy and BTD East Limb mineralization, and confirm the Doris North ore-hosting structures continues at depth below the diabase dyke, approximately 400 metres south of the drilling completed in 2016. We will now be able to focus our BTD drilling on parts of those structures where high-grade gold has been intersected outside of the known BTD East Limb mineral envelope in order to evaluate their potential extent, continuity and grade. As a result of today’s encouraging drill intersections, we have been able to refine our understanding of the major ore-hosting structures at depth at Doris North, and to have the confidence to add a second drill to the underground drill program as drill bays become available. Last year, the excellent drill results of 2016 on the Doris North BTD target provided TMAC management with the confidence to extend mine development below the diabase dyke. Consistent with TMAC’s philosophy of optimizing infrastructure, the current Doris North BTD development ramp will be multifunctional, providing physical access to the Doris North BTD East Limb, more efficient drilling platforms proximal to both the BTD East Limb and the BTD Extension, and drill platforms to facilitate targeting of additional exploration areas below the diabase dyke. Ultimately this work is expected to provide TMAC with the opportunity to significantly extend mine life at Doris.”

The success of the 2016 exploration program targeting the BTD Extension and BTD East limb, led to the initiation of underground development to provide optimized drilling platforms and access to the Doris North BTD East Limb mineralization. The BTD access ramp had progressed sufficiently to allow exploration diamond drilling to commence south of the known BTD zones in early March, and is expected to reach the high grade BTD East Limb and BTD Extension areas in mid-June at which time infill, expansion, and exploration drilling will commence.

Doris Deposits

The Doris Trend is a north-south oriented structural trend developed within Archean-aged, mafic metavolcanic-dominant, host rocks. The Doris gold mineralization occurs at the contact between two mafic volcanic units, a high titanium basalt and a high magnesium basalt hosted in either quartz vein or within shear breccia. The drill results reported are from the most northern known extent of the Doris Trend, below the Doris North reserves (Figure 1). The current known high-grade reserves and resources at the Doris North Hinge zone (Measured and Indicated Mineral Resources of 550,000 tonnes grading 20.2 grams per tonne (“g/t”) gold (“Au”) and containing 358,000 Au ounces) are currently only defined above the diabase dyke and only extend to a depth of 160 metres. The Doris North reserves are those currently being mined and scheduled to be mined in the first two years of full production at the Doris Mine. The Doris North BTD zones are the extension of the Doris North zone, below a late, locally relatively flat-lying diabase dyke that bisects the known gold mineralization at Doris into upper and lower elevations. The Doris North BTD zones are further subdivided into the Doris North BTD East Limb and Doris North BTD Extension, separated by the northwest-striking North Fault. The Doris North BTD Extension is interpreted as the down-dropped continuation of the Doris North zone hinge structure on the north side of the North Fault, beneath the diabase dyke. The Doris North BTD East Limb is interpreted as the down-dip continuation of the Doris North East Limb mineralization, south of the offsetting North Fault and beneath the diabase dyke. TMAC believes the Doris North BTD exploration areas have the potential to add significant high grade gold ounces to the Doris North Mineral Resources with continued drilling and underground development.

FIGURE 1: DORIS DEPOSIT LONGITUDINAL SECTION

Doris North BTD Access Ramp

Successful diamond drilling in 2016 on the Doris North BTD Extension and Doris North BTD East Limb zones supported the decision to commence underground ramp development below the diabase dyke in late 2016. The Doris North BTD ramp development is designed to fulfil three primary objectives; 1) provide access to the Doris North BTD East Limb for lateral development on the vein system, 2) provide more proximal drilling platforms to effectively drill the Doris North BTD Extension, 3) provide drilling platforms for additional exploration drilling in additional areas of high-potential below the dyke. Figure 2 illustrates the ramp development progress to date and additional exploration areas being evaluated with the current underground exploration drilling program. By early-March 2017, development of the BTD access ramp had progressed sufficiently to allow for exploration drilling to commence south of the know BTD East Limb. As of the end of April 2017 approximately 640 metres of ramp development, and 160 metres of infrastructure development, including drill bays and infrastructure bays, has been completed. Approximately 125 metres of development remains on the BTD exploration drift, which will allow for follow-up infill, expansion, and exploration drilling within the known high grade BTD Extension and BTD East limb areas defined in 2016. The BTD exploration drift is scheduled to be completed by mid-June at which point initial drilling will commence in this area.

In addition to the BTD Extension Exploration drift, development is advancing on the initial BTD East Limb access on the 4825 level. Approximately 50 metres of development remains to cross-cut the East limb on this level and begin initial sill development in ore.

FIGURE 2: DORIS NORTH BTD ACCESS RAMP AND 2017 DIAMOND DRILLING.

Doris North BTD Exploration Drilling

Drilling commenced early March with the first underground drill, following up on wide spaced historical intersections, south of the known BTD zones that were the focus of the 2016 drilling program (Figure 2). A second drill was added in early May. To date 15 drillholes have been completed, with assay results returned from the initial seven holes. The 2017 drilling to date has been focused on an area approximately 200-400 metres south of the known BTD Extension and East limb drilled in 2016, and is following up on widely spaced historical drilling which intersected gold mineralization interpreted to be associated with the down-dip extension of the East Limb. Significant historical intersections in this area include drillholes 95TDD064 and 10TDD720A which intersected 16.3 g/t Au over 6.3 metres and 15.9 g/t Au over 3.4 metres, respectively. A summary of the assay results received to date for 2017 drilling program are provided in Table 1. The exploration program has been successful in that all drillholes to date have intersected the targeted BTD East Limb ore-hosting structure as either quartz vein or shear breccia (Figure 3). Highlights from drilling to date include drillhole TM50050 which intersected 14.2 g/t Au over 1.75 metres and TM50051 returning 11.4 g/t Au over 1.50 metres. Follow-up diamond drilling targeting the historical intersections south of the BTD Extension zone will continue through to mid-June at which point the BTD exploration drift and drill bays will be complete and the two diamond drills will transition to infill, expansion, and exploration drilling on the known high grade portions of the BTD Extension identified in the 2016 drilling.

FIGURE 3: DORIS BTD EXPLORATION DRILLING WEST-EAST SECTION.

TABLE 1: DORIS NORTH BTD EXPLORATION 2017 DIAMOND DRILLING INTERSECTIONS.

ABOUT TMAC RESOURCES

TMAC holds a 100% interest in the Hope Bay Project located in Nunavut, Canada. TMAC is a fully financed, emerging gold producer with the Doris Mine pouring first gold in the first quarter of 2017 and achieving commercial production in the second quarter of 2017. The Madrid and Boston properties are expected to commence production in 2020 and 2022, respectively. The Company has an experienced, expert board of directors combined with exploration, development and operating teams with extensive track records of discovering, developing and operating high grade, profitable underground mines. TMAC’s shares trade on the Toronto Stock Exchange under the trading symbol TMR.

SAMPLE PREPARATION, ANALYSIS AND QUALITY ASSURANCE/QUALITY CONTROL

For a complete description of TMAC’s sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Hope Bay Project dated May 28, 2015 entitled “Technical Report On The Hope Bay Project, Nunavut, Canada”, which has an effective date of March 31, 2015 (the “Hope Bay Technical Report”), as filed on TMAC’s profile at www.sedar.com.

SCIENTIFIC AND TECHNICAL INFORMATION

Information of a scientific or technical nature in respect of the Hope Bay Project, other than new information related to Doris mine development, is based upon the Hope Bay Technical Report, as filed on TMAC’s profile at www.sedar.com. Scientific and technical information contained in this document was reviewed and approved by David King, P.Geo., the Vice President, Exploration and Geoscience of TMAC who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

FORWARD-LOOKING INFORMATION

This release contains "forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, bringing the timing for bringing Madrid and Boston into production and the rate of ramp up at Doris throughout 2017.

Forward-looking information is not a guarantee of future performance and management bases forward-looking statements on a number of estimates and assumptions at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors, which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See “Risk Factors” in the Company’s Annual Information Form dated February 23, 2017 filed on SEDAR at www.sedar.com for a discussion of these risks.

SOURCE TMAC Resources Inc.

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For further information:
TMAC Resources Inc.
Catharine Farrow, 416-628-0216
Chief Executive Officer
or
Ann Wilkinson, 416-628-0216
Vice President, Investor Relations
www.tmacresources.com
or
Renmark Financial Communications Inc.
Daniel Gordon, 416-644-2020 or 514-939-3989
dgordon@renmarkfinancial.com
www.renmarkfinancial.com