MacDonald Mines Announces Results from Annual Meeting of Shareholders

TORONTO, July 31, 2020 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces the results of its 2020 Annual and Special Meeting of Shareholders (the “Meeting”) held July 30, 2020 in Toronto, Ontario, Canada and virtually on the Internet. The Company is pleased to announce that the shareholders re-elected Pat Dubreuil, Kevin Tanas, Stuart Adair and Quentin Yarie to the Board of Directors to hold office until the close of the next annual meeting of shareholders of the Company.

The shareholders approved a resolution to re-appoint MNP LLP, Chartered Accountants, as auditors of the Company to hold office until the next annual meeting of shareholders, and to authorize the directors to fix their remuneration. The shareholders also approved a resolution re-approving the Company’s stock option plan in accordance with TSX Venture Exchange policies.

Following the Meeting, the Board of Directors confirmed Stuart Adair (Chair), Kevin Tanas and Pat Dubreuil as the members of the Audit Committee and Pat Dubreuil (Chair), Kevin Tanas and Stuart Adair as the members of the Compensation Committee.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold exploration in Canada. The Company is focused on developing its large SPJ Project in Northern Ontario.

The Company’s common shares trade on the TSX Venture Exchange under the symbol “BMK”.

To learn more about MacDonald Mines, please visit www.macdonaldmines.com or https://insidexploration.com/bmk/

For more information, please contact:

Quentin Yarie, President & CEO, (416) 364-4986, qyarie@macdonaldmines.com

Or Mia Boiridy, Investor Relations, (416) 364-4986, mboiridy@macdonaldmines.com

Neither 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.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.