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Maple Gold receives $400,000 in tax refunds and plans additional Artificial Intelligence Study to enhance predictive modelling at Douay

ID: 1556642
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(PresseBox) - Maple Gold Mines Ltd. ?Maple Gold? or the ?Company?) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G -https://www.commodity-tv.com/play/maple-gold-mines-drilling-new-high-grade-extension-531-zone/ ) is pleased to announce that the Company has received a Notice of Assessment from Revenue Quebec (?RQ?) for $399,966 in tax refunds pertaining to qualified 2018 exploration expenditures. The Company has received the first installment of $325,644 from RQ, and expects to receive the balance in the coming weeks.

Maple Gold is also planning to complete additional Artificial Intelligence (?AI?) work to update and expand on a previous AI study that was completed at the Douay Project back in 2008. Maple Gold has made significant progress with its in-house modelling efforts over the course of the last 18 months, delivering a new 3D model that incorporates significantly more data than would have been available a decade ago along with updated geological and structural interpretations.

The 2008 study was completed by Diagnos Inc., and covered an area of about 50km Maple Gold imported one of the resulting prospectivity maps into the Company?s GIS compilation in order to compare the higher-potential areas defined in this work with those outlined with traditional data layering in GIS. The results of this exercise were fairly compelling, with the historical AI work supporting the potential for additional zones of mineralisation within and beyond what is now the Nika Zone and even stronger indications from the predictive modeling for higher grade gold mineralisation beyond the current conceptual pits, most notably to the NW of the NW Zone, and also outlining a large essentially undrilled target south of the Porphyry Zone (see hatched area in Figure 1 below).

Maple Gold?s VP, Exploration, Fred Speidel, commented: ?We view these numerical approaches to target definition as another valuable layer of information that, if adequately supported by key underlying datasets and input from geologists, has the potential to further optimize drill targeting. The previous study did not cover the 531 or Main zones or their extensions, so we are keen to update and expand this work there and incorporate another tool into our targeting efforts.?



This updated AI exercise will allow us to apply more powerful algorithms than previously, to expand the area of coverage to include 531 and Main zones that are of particular interest to us given recent drilling and geophysical results there, and also to include some additional concepts recently developed by the current team. ossible distribution of sulfides, prior to initial drill testing.

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Maple Gold. the Company?s QA-QC standards and protocols: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement.

About Maple Gold

Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world?s premier mining jurisdictions. The Company?s ~355 kme information please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

?Matthew Hornor?

1. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang

VP, Corporate Development

Cell: 778.686.6836

Email: jlang(at)maplegoldmines.com

In Europe:

Swiss Resource Capital AG

Jochen Staiger

info(at)resource-capital.ch

www.resource-capital.ch

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 prospectiveual 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. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as ?anticipate?, ?will?, ?intend? and similar expressions are intended to identify forward-looking statements.

Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such 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.



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Date: 03/03/2020 - 14:39
Language: English
News-ID 1556642
Character count: 8012
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Firma: Swiss Resource Capital AG
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Stadt: Montreal (Quebec)
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