Mackay Gold acquires Comstock Nevada mining assets

Creates the largest consolidated mining claim package in the Comstock District's 167-year history, expanding Mackay's land position by 70% to 4,343 hectares (43 km²) Unites the district's three major vein systems, the Silver City Lode, Occidental-Brunswick Lode and Comstock Lode, under single ownership for the first time Adds two oxide gold-silver deposits supported by recent S-K 1300 historical estimates, plus numerous historical past-producing gold-silver mines Includes a permitted heap-leach and Merrill-Crowe processing facility providing future development optionality Vancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - Mackay Gold & Silver Corp. (TSXV: MACK) (OTCQB: MKGSF) (" Mackay " or the " Company ") is pleased to announce that it has entered into a definitive agreement with Comstock Inc. ("Comstock") for the purchase of 100% of Comstock's mining assets in Storey County and Lyon County Nevada, referred to herein as the Silver City Lode properties ("SCL Properties"). The acquisition expands Mackay's total land holdings by 70% to 4,343 ha (43 km 2 ), consolidating the largest property package held by one company in Comstock District history. Consideration will consist of US$20 million in cash and 2,000,000 common shares of Mackay ("Mackay Shares") on closing, followed by a further US$7 million payable within 18 months in a combination of cash and shares, plus contingent future consideration as detailed later in this press release.

With a balance sheet of over US$60M, Mackay is fully financed to make all cash payments while retaining a very strong treasury to fund the Company's ongoing exploration objectives. The SCL Properties are contiguous with the southern boundary of Mackay's existing land package, covering the entire, multi-kilometer strike length of the Silver Ci