MacDonald Mines Appoints Mia Boiridy as President and CEO

TORONTO, Feb. 22, 2021 – MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, or the “Company”) is pleased to announce the appointment of Mia Boiridy as President and CEO of the Company effective February 28, 2021.

Ms. Boiridy is uniquely qualified to lead the MacDonald Mines team with a combination of geology, capital markets experience and excellent communication and engagement skills. Mia holds a BSc. Geology and MSc. Geochemistry from McGill University and has worked closely with Quentin Yarie and the MacDonald Mines team for the past seven years. She was also most recently the President of Red Pine Exploration Inc. She has stepped down from that position to guide MacDonald Mines through its ongoing exploration programs on the SPJ Project.

“We are very pleased to appoint Mia as President and CEO of MacDonald Mines. Her strong technical background combined with corporate management capital markets, and fundraising expertise make her ideal for leading the Company. Already well recognized for her communication and engagement skills, she has an established technical understanding of the SPJ Project and an excellent working relationship with all of MacDonald Mines’ staff, directors and other stakeholders,” said Stuart Adair, director, on behalf of the Board.

“I am thrilled to take on this role at an exciting time for the Company. Our exploration program continues to expand the potential of our SPJ Project. I look forward to working with our talented team and the Board to further develop the SPJ Project and increase shareholder value,” said Mia Boiridy.

Mia’s appointment follows Quentin Yarie’s resignation as President and CEO effective February 28, 2021. Mr. Yarie will continue to serve as a director and assume the role of non-executive Chairman of the Board. In his new role, Mr. Yarie will assist with the transition and continue to provide his technical expertise to the Company moving forward.

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 currently 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.

For more information, please contact:

Mia Boiridy, President & CEO, (416) 364-4986, mboiridy@macdonaldmines.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept 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.