Maritime Announces Repayment of Senior Secured Notes Due August 14, 2025

Maritime Resources Corp. (TSXV: MAE,OTC:MRTMD) ("Maritime" or the "Company") is pleased to announce the full cash repayment of the US$5 million principal amount owed under its non-convertible senior secured notes due on August 14, 2025 (the "Notes"), along with accrued and unpaid interest for the month of July 2025. In order to repay the Notes, the Company used the proceeds from its recently completed brokered "best efforts" private placement offering of common shares in the capital of the Company, as announced on July 17, 2025. Payment for the Notes was processed today through Computershare Trust Company of Canada.

Garett Macdonald, Chief Executive Officer of Maritime, commented: "We would like to take this opportunity to thank each of the noteholders for their support of the acquisition of the Point Rousse Project which included the Pine Cove Mill in August 2023 through the senior secured note facility. The Company is once again debt-free with the full repayment of the Notes."

About Maritime Resources Corp.

Maritime (TSXV: MAE,OTC:MRTMD) 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260608