Toronto, Ontario--(Newsfile Corp. - August 19, 2025) - Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to provide an update for the Hammerdown Gold Project, located in the Baie Verte mining district of Newfoundland and Labrador ("Hammerdown"), near the towns of King's Point and Springdale.
Highlights:
Follow up grade control drilling on the Wisteria zone locates additional high-grade mineralization at depth and confirms the folded nature of the mineralized vein system
26.1 grams per tonne ("gpt") gold ("Au") over 3.2 metres ("m") in drill hole HDGC-25-280
51.2 gpt Au over 0.9 m in drill hole HDGC-25-277
4.3 gpt Au over 8.0 m, including 8.2 gpt Au over 3.8 m in drill hole HDGC-25-279
1.2 gpt Au over 22.0 m in drill hole HDGC-25-277
Construction activities resumed at Hammerdown with fire hazard rating now considered low
"It's encouraging to see that these north-south orientated mineralized trends continue at depth within the proposed footprint of the Hammerdown project. We will be following up with additional drilling as part of a broader exploration program being planned for this fall that will focus on several high priority targets near Hammerdown," comments Garett Macdonald, President and Chief Executive Officer.
Discussion of Results
The 2025 definition drilling program at the Hammerdown Project has increased the understanding of the structural controls on gold distribution across the deposit. As highlighted in the Maritime Press Release on June 18, 2025, recent drilling unveiled a distinct change in orientation of high-grade ore shoots that diverges from Hammerdown's prevailing east-west trend. This newly identified feature exhibits substantial structural disruption caused by localized faulting and folding, marking a departure from the more continuous mineralization found elsewhere in the deposit.
This north-south trending shear zone hosted mineralization prompted a strategic shift in drilling orientation to evaluate an underexplored direction along the deposit's edge. The presence of cross-cutting structures and deformational features has proven critical in shaping both the high-grade Hammerdown gold veins and the broader Wisteria zone. By investigating this structurally complex zone, the program has enhanced the geological understanding and opened new opportunities for resource growth at depth in the broad Wisteria mineralizing corridor. Upcoming drilling will aim to capture additional mineralization, including near-pit and in-pit ounces that earlier campaigns may have missed that could further unlock the deposit's potential.
Key intercepts from the current program which entailed 310 m of drilling in four drill holes reinforced this opportunity. Hole HDGC-25-280 was designed to test the depth extension of the high-grade intersection drilled in HDGC-25-274 (Maritime Press Release June 18, 2025), which returned 34.4 gpt Au over 2.5 m within a swarm of mineralized quartz veins. HDGC-25-280 intersected 26.1 gpt Au over 3.2 m confirming the high-grade extension of the zone at depth. Hole HDGC-25-277 was designed to intersect below drill hole HDGC-25-273 (Maritime Press Release June 18, 2025), and returned 51.2 gpt Au across 0.9 m in addition to encountering 1.2 gpt Au over 22 m in Wisteria-style disseminated mineralization. Meanwhile, drill hole HDGC-25-279 targeted the western limb of the Wisteria zone, yielding broad intervals of quartz veining and disseminated mineralization with results of 4.3 gpt Au over 8.0 m and 1.9 gpt Au over 3.5 m. HDGC-25-278 planned to test the Wisteria zone encountered a heavy fault gouge at 41 m and was abandoned due to technical issues.
Figure 1. Photo HDGC-25-277 highlighting 51.2 gpt over 0.9 m from 45.0 m to 45.9 m core interval
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4548/263002_d042d5a54423388e_001full.jpg
Figure 2. Hammerdown Site Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4548/263002_d042d5a54423388e_002full.jpg
Figure 3. Cross Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4548/263002_d042d5a54423388e_003full.jpg
Table 1. Assay results
| HOLE | FROM | TO | LENGTH | AU GPT |
| HDGC-25-277 | 15.1 | 15.8 | 0.7 | 2.4 |
| HDGC-25-277 | 45.0 | 45.9 | 0.9 | 51.2 |
| HDGC-25-277 | 55.5 | 57.1 | 1.6 | 8.1 |
| Including | 56.9 | 57.1 | 0.2 | 59.3 |
| HDGC-25-277 | 69.0 | 91.0 | 22.0 | 1.2 |
| HDGC-25-278 | No Significant Results | |||
| HDGC-25-279 | 5.1 | 5.7 | 0.6 | 1.2 |
| HDGC-25-279 | 34.0 | 42.0 | 8.0 | 4.3 |
| Including | 37.2 | 41.0 | 3.8 | 8.2 |
| HDGC-25-279 | 52.7 | 56.2 | 3.5 | 1.9 |
| HDGC-25-279 | 64.4 | 65.0 | 0.6 | 2.3 |
| HDGC-25-280 | 21.1 | 24.4 | 3.2 | 26.1 |
| Including | 21.6 | 22.4 | 0.8 | 79.7 |
| HDGC-25-280 | 42.9 | 45.0 | 2.1 | 1.5 |
| Lengths reported relative to core access are estimated to be approximately 70% true thickness | ||||
Table 2. Drill hole details
| HOLE | EASTING | NORTHING | ELEVATION | AZIMUTH | DIP | DEPTH |
| HDGC-25-280 | 554880.1 | 5489055.0 | 193.1 | 270.0 | -50 | 74 |
| HDGC-25-279 | 554802.5 | 5489036.4 | 194.2 | 90.0 | -70 | 83 |
| HDGC-25-278 | 554773.0 | 5489036.2 | 194.5 | 90.0 | -50 | 41 |
| HDGC-25-277 | 554879.8 | 5489065.6 | 191.4 | 270.0 | -50 | 112 |
Qualified Person
Exploration activities at the Hammerdown Gold Project are administered on site by the Company's Exploration Manager, Larry Pilgrim, P.Geo. In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Larry Pilgrim, P.Geo. Exploration Manager, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this press release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on its exploration projects.
Analytical Procedures
All samples assayed and pertaining to this press release were completed by Eastern Analytical Limited (EAL) located at Springdale, Newfoundland and Labrador. EAL is an ISO 17025:2005 accredited laboratory for a defined scope of procedures. EAL has no relationship to Maritime. Drill core samples are collected from NQ sized diamond drill core and sawn in half. The half core samples are delivered in sealed plastic bags to EAL by Maritime field crews where they are dried, crushed, and pulped. Samples are crushed to approximately 80% passing a minus 10 mesh and split using a riffle splitter to approximately 250 grams. A ring mill is used to pulverize the sample split to 95% passing a minus 150 mesh. Sample rejects are securely stored at the EAL site for future reference. A 30-gram representative sample is selected for analysis from the 250 grams after which EAL applies a fire assay fusion followed by acid digestion and analysis by atomic absorption for gold analysis. Other metals were analyzed by applying an acid digestion and 34 element ICP analysis finish. EAL runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.
About Maritime Resources Corp.
Maritime (TSXV: MAE) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 km2 of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit.
On Behalf of the Board:
MARITIME RESOURCES CORP.
Garett Macdonald, MBA, P.Eng.
President and Chief Executive Officer
Phone: (416) 365-5321
info@maritimegold.com
www.maritimeresourcescorp.com
Twitter
Facebook
LinkedIn
YouTube
Caution Regarding Forward-Looking Statements:
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include, but are not limited to, statements concerning the Hammerdown mineralization, sampling programs, the grade control drilling program, location and grade of underground workings and backfill material, opportunities for resources growth, construction elements planned for Hammerdown, production ramp up at Hammerdown, preparation of an updated technical report for Hammerdown, growth of the Company and the creation of long-term value for shareholders, exploration plans at the Company's properties, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision and executing exploration programs on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263002
SOURCE: Maritime Resources Corp.
