Maple Gold Appoints Egizio Bianchini as Strategic Advisor

Montreal, October 2, 2020 - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is very pleased to announce the appointment of Egizio Bianchini as a strategic advisor to provide guidance and insight on strategic corporate matters. Mr. Bianchini was formerly Executive Vice Chairman of Ivanhoe Mines and previously held a distinguished 29-year career at BMO Capital Markets where he held the title of Vice Chairman and Co-Head of the Global Metals & Mining Group from 2011 to 2018.

"Egizio is one of the most well-connected figures in the global mining industry and we are delighted to have his depth of experience as we forge ahead with the Douay Gold Project in Quebec," stated Matthew Hornor, President and CEO of Maple Gold. "His appointment completes our roster of highly accomplished strategic advisors that also includes Timo Jauristo and Matthew Lechtzier. Their combined involvement signifies a major evolution in how we are approaching our business and the considerable opportunities that lay ahead."

Egizio Bianchini

Mr. Bianchini was formerly Executive Vice Chairman of Ivanhoe Mines and previously held a 29-year career at BMO Capital Markets, a member of Canada-based BMO Financial Group, where he served as Vice Chairman and Co-Head of the Global Metals & Mining Group from April 2011 to March 2018. With more than 30 years' experience in the metals and mining financial services sector, Mr. Bianchini has an extensive track record in advising a wide range of metals and mining companies around the world and in structuring and executing initial public offerings and other capital raises.

Stock Option Grant

In conjunction with the new appointment, along with the appointments of Timo Jauristo and Matthew Lechtzier as announced on September 14, 2020, the Company has granted a total of 750,000 incentive stock options at a price of $0.20. The Company's Stock Option Plan governs these incentive options, as well as the terms and conditions of their exercise, which is in accordance with policies of the TSX Venture Exchange.

About Maple Gold

Maple Gold Mines Ltd. controls the 357-square-kilometre Douay Gold Project located within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established National Instrument 43-101 gold resource of 422,000 ounces in the Indicated category (8.6Mt grading 1.52 g/t Au) and 2.35 million ounces in the Inferred category (71.2Mt grading 1.03 g/t Au) with significant potential for resource expansion and new discoveries. The Project benefits from exceptional infrastructure access and the Company is currently focused on carrying out aggressive exploration programs to expand and update the known resource. For more information, please visit www.maplegoldmines.com.

For more information please visit www.maplegoldmines.com.

ON BEHALF OF Maple Gold Mines Ltd.

"Matthew Hornor"

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang
Executive Vice President
Cell: 778.686.6836
Email: jlang@maplegoldmines.com

Ms. Shirley Anthony
Director, Corporate Communications
Cell: 778.999.2771
Email: santhony@maplegoldmines.com

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:

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, including statements about the completion of the private placement financing and use of proceeds of the financing. Forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65075