Since September 15, 2016, when Marlin began consistently mining the high grade HS Zone, the Company has stacked 66,923 ounces of gold with 7,447 coming in January alone. The tonnes stacked in January had an average grade of approximately 1.87 grams per tonne. In addition, Marlin has built up an approximately 485,000-tonne stockpile of mineralized material with an average grade of approximately 1.37 grams per tonne. Management expects to process grades similar to the average stockpile grade as we accelerate mining to reach the southern part of the high grade HS Zone by the third quarter of this year.

Canada’s Minister of Natural Resources, the Honourable Jim Carr, led an official visit and trade mission to Mexico this week. Minister Carr and Mexico’s Secretary of the Economy, Ildefonso Guajardo, signed a Memorandum of Understanding (MoU) on Collaboration in Sustainable Mineral Resource Development that will benefit both countries over the coming years by laying the foundation for greater trade, stronger growth and job creation. The Minister also congratulated the Canadian Electricity Association and Mexico’s Asociación Mexicana de Energía on the signing of a groundbreaking MoU that will further enhance electricity cooperation between our two countries.

The Company is pleased to announce that drilling of the Company’s La Reforma property is about to commence. La Reforma is one of the seven properties that the Company has under option to Desarrollos Mineros El Aguila, S.A. de C.V., a wholly owned subsidiary of Fresnillo PLC in the Uruachic Mining District in Chihuahua State, Mexico. After completing field work during 2016, the Company has been advised by El Aguila that they will commence drilling on this property shortly.

James McDonald, President and CEO stated “We are very encouraged with the consistency of results from our initial drilling on the Soledad structure and its potential to yield future discoveries along its 2 kilometer strike length. These results, combined with the success of the previous 11 holes of the phase I drill program that identified an entirely new silver discovery within a 400 meter strike length on the nearby RAM structure, reinforces our belief that La Cigarra and its surrounding mineralized structures offer significant development potential to add to our future silver resources.”

“Recent drilling results confirm our ability to discover additional high-grade manto mineralization both near surface and around our existing resource,” stated Ben Pullinger, Vice-President, Geology. “The discovery of a connector zone between the Guadalupe North and 6A Mantos is very encouraging and provides more flexibility in our mine plans and allows us to open up new headings closer to surface.”