macdonald mines exploration ltd

MacDonald Mines Appoints Mia Boiridy as President and CEO

MacDonald Mines Exploration Ltd. (TSX-V: BMK) ("MacDonald Mines", or the "Company") is pleased to announce the appointment of Mia Boiridy as President and CEO of the Company effective February 28, 2021.

Ms. Boiridy is uniquely qualified to lead the MacDonald Mines team with a combination of geology, capital markets experience and excellent communication and engagement skills. Mia holds a BSc. Geology and MSc. Geochemistry from McGill University and has worked closely with Quentin Yarie and the MacDonald Mines team for the past seven years. She was also most recently the President of Red Pine Exploration Inc. She has stepped down from that position to guide MacDonald Mines through its ongoing exploration programs on the SPJ Project.

" We are very pleased to appoint Mia as President and CEO of MacDonald Mines. Her strong technical background combined with corporate management capital markets, and fundraising expertise make her ideal for leading the Company. Already well recognized for her communication and engagement skills, she has an established technical understanding of the SPJ Project and an excellent working relationship with all of MacDonald Mines' staff, directors and other stakeholders," said Stuart Adair, director, on behalf of the Board.

"I am thrilled to take on this role at an exciting time for the Company. Our exploration program continues to expand the potential of our SPJ Project. I look forward to working with our talented team and the Board to further develop the SPJ Project and increase shareholder   value," said Mia Boiridy.

Mia's appointment follows Quentin Yarie's resignation as President and CEO effective February 28, 2021. Mr. Yarie will continue to serve as a director and assume the role of non-executive Chairman of the Board. In his new role, Mr. Yarie will assist with the transition and continue to provide his technical expertise to the Company moving forward.

A   bout 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 currently developing its large SPJ Project in Northern Ontario.

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:

Mia Boiridy, President & CEO, (416) 364-4986, mboiridy@macdonaldmines.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept 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.


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Quimbaya logo (CNW Group/Quimbaya Gold Inc.)

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About Quimbaya

Quimbaya is active in the exploration and acquisition of mining properties in the prolific mining districts of Colombia . Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Department, Colombia .

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Cautionary Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "should" or "would" or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company's securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company may not be able to raise funds under the Offering, as currently anticipated, that the Company may fail to receive any required regulatory approvals for the Offering, that the Company will not use the proceeds of the Offering as anticipated, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company's business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

SOURCE Quimbaya Gold Inc.

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