MacDonald Mines Appoints Greg Romain as President and CEO

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Mining Update

MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines” or the “Company”) is pleased to announce the appointment of Greg Romain as President and CEO of the Company effective today. Mr. Romain is a well known and respected mining executive with over 30 years of experience in the mining and related industries. Mr. Romain is well qualified to lead MacDonald Mines with a combination of management, strategic, exploration, development, mining and capital markets experience, as well as excellent communication and engagement skills. Most recently, Greg was President and CEO of Gowest Gold Ltd. (TSX-V: GWA) from 2008 to 2021. Prior to that he was President of Norcast Castings Limited for 6 years and President & CEO of Norcast Income Fund for 2 years.

“We are extremely pleased to welcome Greg as President and CEO of MacDonald Mines. His many years in exploration, development, and mining, as well as capital markets and corporate management experience make Greg an excellent fit and the perfect candidate to lead the Company forward in achieving its long-term strategic goals,” said Stuart Adair, Interim CEO and director, on behalf of the Board.

“I am excited to be leading MacDonald Mines and look forward to working closely with its Board and our talented team to build on the progress made to date exploring the Company’s large and exciting SPJ project and increasing shareholder value,” said Greg Romain.

Mr. Romain has also been appointed to the Company’s board of directors effective today and has been granted 1,250,000 stock options, of which half vest immediately and half in six months’ time. The options allow Greg to purchase the same number of common shares of the Company at a price of $0.05 per share for a period of five years.

The Board would like to thank Stuart Adair for his contribution to the Company as Interim CEO for the past four months while we undertook our search for a permanent CEO. Mr. Adair will continue to serve as a director of the Company.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario that trades on the TSX Venture Exchange under the symbol “BMK”.

The Company is focused on developing its 100%-owned SPJ Project in Northern Ontario. Following up on its successful 2019-2021 exploration and drilling campaigns, MacDonald Mines is focused on what it theorizes to be a large gold system at work on the 19,380-ha property with high-grade gold surrounding the past-producing Scadding Gold Mine and surrounding gold/polymetallic mineralization over several kilometres.