Toronto, Ontario--(Newsfile Corp. - March 14, 2025) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) ("Maritime" or the "Company") is pleased to announce additional drill results from a grade control drill program at the Hammerdown Gold Project. Hammerdown is located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King's Point and Springdale.
Highlights:
19.9 grams per tonne ("gpt") gold ("Au") over 17.0 metres ("m"), including 32.2 gpt Au over 10.0 m in drill hole HDGC-25-124
2.5 gpt Au over 14.0 m in drill hole HDGC-25-120
31.6 gpt Au over 1.0 m in drill hole HDGC-25-145
27.9 gpt Au over 1.0 m in drill hole HDGC-25-118
27.8 gpt Au over 0.9 m in drill hole HDGC-25-231
Sampling of underground mine backfill material in drill holes HDGC-25-234 and HDGC-25-149 returned 11.2 gpt Au over a 3.0 m and 16.7 gpt Au over 2.0 m, respectively
Discussion of Results
The latest drill results cover multiple locations within the proposed first year of open pit mining at Hammerdown. The grade control program continues to validate the vein model and historic underground workings while identifying additional mineralization between the high-grade veins, mine backfill material and remnant pillars.
Notable assay results include drill hole HDGC-25-124, which intersected 19.9 gpt Au over 17.0 m, including 32.2 gpt Au over 10.0 m. This drill hole is located 5 metres south of previously announced drill hole HDGC-25-122 (Maritime press release dated March 4, 2025) which returned 12.0 gpt Au over 28.0 m, including 73.7 gpt Au over 4.0 m demonstrating excellent short range continuity in an area of structural thickening. Further south and 11 m west of drill hole HDGC-25-124, drill hole HDGC-25-120 intersected the Wisteria Zone at a depth of 23 m returning a broad 14 m wide interval averaging 2.5 gpt Au. The Wisteria Zone is a large bulk tonnage target consisting of disseminated sulphide mineralization in a quartz feldspar porphyry (QFP) that remains open at depth and along strike. Drill hole HDGC-25-145 also returned a high-grade intersection of 31.6 gpt Au over 1.0 m in the P01 vein, extending the vein approximately 20 m beyond its interpreted wireframe.
The Hammerdown grade control program continues to deliver impressive results, further refining the resource model by capturing mineralization between high-grade veins, defining new mineralization in previously clipped pillars and wireframes plus identifying high grade mineralization within the historic backfilled stopes. This was seen in drill holes HDGC-25-234 with 11.2 gpt Au over 3.0 m and HDGC-25-149 with 16.7 gpt Au over 2.0 m. These results enhance the confidence in the mineralization surrounding and inside the previously mined out stopes at Hammerdown. The potential quantity and grade are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain whether further exploration would result in the backfill material being delineated as a mineral resource.
Grade Control Drilling
The grade control drill program is now completed with 8,460 metres of diamond drilling in 273 drill holes. The program was designed to intersect the sub vertical mineralization on a 10m x 10m staggered pattern to maximize future ore extraction while minimizing ore losses and dilution. Assay results are pending for over 114 drill holes and will be released as they are received.
Figure 1. Plan View
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Figure 2. Hammerdown Deposit Cross Section
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Figure 3. Core Photo Drill Hole HDGC-25-124 high grade intersection returning 32.2 gpt Au over 10 m
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Table 1. Assay Results
| Hole | From | To | Length | Au g/t | Comments |
| HDGC-24-033 | 11.00 | 13.00 | 2.00 | 1.04 | |
| HDGC-24-033 | 17.00 | 18.00 | 1.00 | 1.31 | |
| HDGC-25-114 | 4.00 | 5.00 | 1.00 | 1.61 | |
| HDGC-25-118 | 10.00 | 11.00 | 1.00 | 5.71 | |
| HDGC-25-118 | 45.00 | 46.00 | 1.00 | 27.85 | |
| HDGC-25-118 | 46.00 | 49.00 | 3.00 | 3.01 | |
| HDGC-25-120 | 23.00 | 37.00 | 14.00 | 2.53 | |
| HDGC-25-124 | 7.00 | 24.00 | 17.00 | 19.86 | |
| Including | 12 | 22 | 10 | 32.21 | |
| HDGC-25-128 | 21.00 | 22.00 | 1.00 | 1.66 | |
| HDGC-25-130 | 4.00 | 5.00 | 1.00 | 14.90 | Overburden |
| HDGC-25-130 | 6.00 | 6.30 | 0.30 | 2.69 | Overburden |
| HDGC-25-136 | 8.40 | 8.60 | 0.20 | 16.26 | |
| HDGC-25-136 | 9.45 | 9.65 | 0.20 | 5.57 | |
| HDGC-25-136 | 13.80 | 14.00 | 0.20 | 4.11 | |
| HDGC-25-136 | 15.55 | 16.00 | 0.45 | 1.75 | |
| HDGC-25-138 | 14.00 | 15.00 | 1.00 | 1.16 | |
| HDGC-25-138 | 16.70 | 17.40 | 0.70 | 16.82 | |
| HDGC-25-138 | 22.00 | 22.20 | 0.20 | 7.93 | |
| HDGC-25-138 | 24.25 | 24.45 | 0.20 | 3.98 | |
| HDGC-25-140 | 5.00 | 6.00 | 1.00 | 2.52 | |
| HDGC-25-140 | 7.50 | 7.70 | 0.20 | 1.31 | |
| HDGC-25-140 | 9.00 | 10.00 | 1.00 | 1.47 | |
| HDGC-25-140 | 14.78 | 15.54 | 0.76 | 26.71 | |
| HDGC-25-140 | 17.53 | 18.24 | 0.71 | 1.69 | |
| HDGC-25-142 | 2.40 | 8.20 | 5.80 | 2.72 | Overburden |
| HDGC-25-142 | 11.00 | 12.00 | 1.00 | 1.21 | |
| HDGC-25-142 | 21.00 | 21.80 | 0.80 | 3.28 | |
| HDGC-25-142 | 24.00 | 25.00 | 1.00 | 1.14 | |
| HDGC-25-145 | 51.00 | 52.00 | 1.00 | 31.60 | |
| HDGC-25-149 | 45.00 | 47.00 | 2.00 | 1.78 | |
| HDGC-25-149 | 51.00 | 52.70 | 1.70 | 7.72 | |
| HDGC-25-149 | 55.00 | 57.00 | 2.00 | 16.72 | Backfill |
| HDGC-25-149 | 63.00 | 67.00 | 4.00 | 3.44 | |
| HDGC-25-151 | 15.00 | 16.00 | 1.00 | 1.93 | |
| HDGC-25-151 | 36.00 | 37.00 | 1.00 | 2.23 | |
| HDGC-25-151 | 47.00 | 49.00 | 2.00 | 6.80 | |
| HDGC-25-151 | 60.00 | 61.00 | 1.00 | 15.18 | |
| HDGC-25-153A | 19.00 | 20.00 | 1.00 | 2.19 | |
| HDGC-25-153A | 22.00 | 23.00 | 1.00 | 1.02 | |
| HDGC-25-153A | 28.00 | 29.00 | 1.00 | 1.06 | |
| HDGC-25-153A | 37.00 | 38.00 | 1.00 | 2.88 | |
| HDGC-25-155 | 1.50 | 2.00 | 0.50 | 2.40 | Overburden |
| HDGC-25-155 | 13.60 | 14.00 | 0.40 | 6.17 | |
| HDGC-25-157 | 39.50 | 40.20 | 0.70 | 3.53 | |
| HDGC-25-159 | 33.50 | 35.00 | 1.50 | 1.11 | |
| HDGC-25-159 | 45.00 | 46.00 | 1.00 | 3.10 | |
| HDGC-25-159 | 54.00 | 54.23 | 0.23 | 14.60 | |
| HDGC-25-159 | 62.55 | 63.00 | 0.45 | 1.71 | |
| HDGC-25-161 | 40.10 | 40.30 | 0.20 | 24.47 | |
| HDGC-25-161 | 50.60 | 51.00 | 0.40 | 3.07 | |
| HDGC-25-163 | 21.00 | 21.70 | 0.70 | 11.96 | |
| HDGC-25-163 | 23.90 | 24.50 | 0.60 | 17.70 | |
| HDGC-25-163 | 28.00 | 31.20 | 3.20 | 1.78 | Backfill |
| HDGC-25-163 | 56.30 | 56.50 | 0.20 | 32.30 | |
| HDGC-25-230 | 9.80 | 10.00 | 0.20 | 1.47 | |
| HDGC-25-230 | 14.45 | 14.75 | 0.30 | 11.56 | |
| HDGC-25-230 | 17.30 | 17.70 | 0.40 | 2.40 | |
| HDGC-25-230 | 18.70 | 19.00 | 0.30 | 1.08 | |
| HDGC-25-231 | 12.65 | 13.50 | 0.85 | 27.79 | |
| HDGC-25-234 | 14.00 | 17.00 | 3.00 | 11.20 | Backfill |
| HDGC-25-234 | 20.71 | 21.00 | 0.29 | 8.68 |
Lengths reported relative to core access are estimated to be approximately 70% true thickness.
Table 2. Drill hole Data
| Hole Number | Azimuth | Dip | Depth | Northing | Easting | Elevation |
| HDGC-24-033 | 180 | -60 | 19 | 5489073 | 554850 | 193 |
| HDGC-25-114 | 180 | -45 | 47 | 5489131 | 554840 | 197 |
| HDGC-25-118 | 180 | -60 | 64 | 5489145 | 554850 | 196 |
| HDGC-25-120 | 180 | -60 | 37 | 5489078 | 554830 | 193 |
| HDGC-25-124 | 180 | -60 | 25 | 5489078 | 554841 | 191 |
| HDGC-25-128 | 180 | -60 | 22 | 5489107 | 554880 | 190 |
| HDGC-25-130 | 180 | -60 | 13 | 5489097 | 554881 | 190 |
| HDGC-25-136 | 180 | -60 | 16 | 5489100 | 554870 | 189 |
| HDGC-25-138 | 180 | -60 | 43 | 5489110 | 554870 | 189 |
| HDGC-25-140 | 180 | -60 | 20 | 5489095 | 554860 | 186 |
| HDGC-25-142 | 180 | -60 | 34 | 5489104 | 554859 | 186 |
| HDGC-25-145 | 180 | -60 | 67 | 5489163 | 554780 | 184 |
| HDGC-25-149 | 180 | -60 | 67 | 5489145 | 554780 | 187 |
| HDGC-25-151 | 180 | -60 | 64 | 5489135 | 554780 | 188 |
| HDGC-25-153A | 180 | -60 | 52 | 5489125 | 554781 | 187 |
| HDGC-25-155 | 180 | -60 | 37 | 5489169 | 554791 | 185 |
| HDGC-25-157 | 180 | -60 | 58 | 5489160 | 554791 | 186 |
| HDGC-25-159 | 180 | -60 | 73 | 5489151 | 554791 | 188 |
| HDGC-25-161 | 180 | -60 | 67 | 5489141 | 554791 | 189 |
| HDGC-25-163 | 180 | -60 | 58 | 5489131 | 554790 | 189 |
| HDGC-25-230 | 180 | -60 | 29 | 5489042 | 555140 | 199 |
| HDGC-25-231 | 180 | -60 | 20 | 5489032 | 555140 | 200 |
| HDGC-25-234 | 180 | -60 | 35 | 5489048 | 555130 | 199 |
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 news 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 Resources. 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) (OTC Pink: MRTMF) 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 CEO
Phone: (416) 365-5321
info@maritimegold.com
www.maritimeresourcescorp.com
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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, its' metallurgical response, precious metal extraction based on the ongoing metallurgical testwork, sampling programs, the grade control drilling program, location and grade of underground workings and backfill material, 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.
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