VANCOUVER, BC — January 13, 2026 — Leads & Copy — Mako Mining Corp. has released its production results for the fourth quarter of 2025, highlighting performance at its San Albino gold mine in Nicaragua, the Moss Mine in Arizona, and an update on the Eagle Mountain gold project in Guyana.
Mako reported total gold sales of 11,604 ounces for $50.0 million in revenue during Q4 2025. The San Albino Mine contributed 9,307 ounces at $4,340 per ounce, while the Moss Mine, during its initial ramp-up phase, sold 2,297 ounces at $4,202 per ounce.
The company successfully repaid $6.5 million in debt and completed an equity raise of $37.7 million, net of costs and commissions. By the end of the quarter, Mako’s cash balance and trade receivables stood at $78.1 million.
San Albino’s operational highlights include 57,577 tonnes mined, yielding 12,906 ounces of gold at an average grade of 6.97 grams per tonne and 13,003 ounces of silver at 7.02 g/t. A total of 34,600 tonnes of diluted vein material produced 10,740 oz Au at 9.65 g/t Au and 10,636 oz Ag at 9.56 g/t Ag. Historical dump and other mineralized material accounted for 22,977 tonnes, containing 2,166 oz Au at 2.93 g/t Au and 2,368 oz Ag at 3.20 g/t Ag.
The strip ratio was 38.9:1. The company milled 54,076 tonnes containing 11,767 oz Au and 12,039 oz Ag grading 6.77 g/t Au and 6.92 g/t Ag. The split was 52% from diluted vein and 48% from historical dump and other sources. The milling rate was 598 tonnes per day at 98% availability, with a gold recovery rate of 82.3%.
The stockpile at quarter-end was estimated at 127,755 tonnes with an average grade of 2.76 g/t Au, containing 11,328 oz of gold.
CEO Akiba Leisman noted Q4 2025’s strong finish, with record average gold prices of $4,313 per ounce driving US$50.0 million in revenue. Leisman said that despite having significant exploration programs at all four of their assets, the quarterly cash increase was US$18.5 million.
Mining at San Albino in Q4 2025 extracted 57,577 tonnes of ore and generated approximately 2.2 million tonnes of waste. Production primarily came from the El Limón and Bayacun areas, contributing 23% and 49% of total mined tonnes, respectively. The average head grade for the quarter was 6.97 g/t Au and 7.02 g/t Ag.
Engineering and geotechnical activities continued during the quarter to support underground mining development.
The plant throughput rate averaged 599 tpd, 19% above nameplate capacity. Mill availability remained high at 98%. The mill head grade averaged 6.77 g/t Au, composed of 52% diluted vein material and 48% historical dump and other material. A total of 9,621 ounces of gold were recovered during the quarter at a mill recovery of 81.8%.
Mining operations at the Moss Mine improved throughout Q4 2025, with the addition of key personnel enabling 24-hour crushing operations. Heap leach pad operations and heap leaching recoveries increased month over month.
The 2025 work program for the Eagle Mountain Gold Project included engineering and environmental activities. The company anticipates submitting the EIA to the Guyana Environmental Protection Agency in Q1 2026. Social baseline studies were advanced in Q4 2025, with stakeholder and community engagement meetings conducted in October.
For further information: Akiba Leisman, Chief Executive Officer, Telephone: 917-558-5289, E-mail: aleisman@makominingcorp.com
Source: Mako Mining Corp.
