MacDonald Mines Announces the Addition of a New Director to the Board and Management Changes

TORONTO, Dec. 06, 2019 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that Mr. Stuart Adair will join the Board of Directors effective immediately and Ms. Fiona Fitzmaurice has been appointed as MacDonald’s Chief Financial Officer.

Mr. Stuart Adair, CPA, CA, is a seasoned finance executive who has been investing in the junior mining sector for over 25 years. He has been CFO of Accord Financial Corp. (TSX:ACD), a TSX-listed commercial finance company, since 2002. At Accord Financial Stuart is involved in capital and risk management, strategic planning, acquisitions, corporate taxes, as well as financial management and reporting. Through his tenure, he developed and implemented Accord’s corporate governance policies, including Board of Directors and Audit Committee mandates, Code of Ethics, Whistleblower Policy, Securities Trading Policy and Majority Voting Policy. He ensures governance policies are adhered to as well as disclosed in regulatory filings. Stuart holds a B.A. from Sheffield University, U.K., and an M.A. in Economics from Queens University.

Ms. Fitzmaurice, BA, ACCA, CPA, CGA, is a chartered accountant with over 12 years of experience in accounting and financial control for both private and publicly listed companies. Fiona is currently CFO of Pasofino Gold (TSX-V: VEIN) and was previously CFO for Mojave Jane Brands and the financial controller for Noront Resources Ltd. Fiona has been involved in private placements, prospectus filings, flow-through financings and corporate audits. Fiona holds a bachelors’ degree in accounting and finance from Athlone Institute of Technology, Ireland.

Ms. Fitzmaurice replaces Ms. Tara Gilfillan who took on the role of Chief Financial Officer in May 2019. Tara is the founder and President of Optimize Group which provides, amongst other things, engineering consulting to the mining industry. MacDonald Mines would like to thank Tara for her assistance and contributions to MacDonald Mines during this transition period and looks forward to an on-going relationship with the Optimize Group as we continue to develop our SPJ Project near Sudbury, Ontario.

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, including the high-grade past producing Scadding Gold Mine.

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:

Quentin Yarie, President & CEO, (416) 364-4986, [email protected]

Or Mia Boiridy, Investor Relations, (416) 364-4986, [email protected]

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.