TMAC Continues to Intersect High Grade Gold Below The Dyke at Doris North

TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) is pleased to provide additional positive drill results from below the diabase dyke at the Doris Mine located on TMAC’s Hope Bay Property, Nunavut, Canada. Drilling since June 2016 continues to provide very high-grade gold intercepts over minable widths down dip of the known Doris Mine Mineral Reserves and, accordingly, additional underground development has been initiated to provide deeper underground access for further drilling at Doris North BTD.

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FIGURE 1: DORIS NORTH BTD EXTENSION - LONGITUDINAL SECTION SHOWING THE LOCATION OF CURRENT DRILLING. (Graphic: Business Wire)

The current known high-grade Mineral Reserves and Resources at the Doris North Hinge zone are only defined above the diabase dyke and only to the shallow depth of 160 metres (Measured and Indicated Mineral Resources of 550,000 tonnes grading 20.2 g/t Au and containing 358,000 Au oz.)

Drilling Highlights (see Tables 1 and 2 for details)

Dr. Catharine Farrow, Chief Executive Officer of TMAC, stated, “We are extremely pleased with the continued success of the Doris North BTD drilling and the additional high-grade assay results published today. Previously released TMAC drill results (June 7, 2016) and the drill results released today on the Doris North BTD zones are consistent with the grades and widths seen in the high grade Doris North Hinge zone, located above the diabase dyke. These positive results clearly demonstrate the significant exploration and development potential below the dyke at Doris and represent another milestone in the evolution of the Doris Mine. As we transition to production at the end of this year, it also establishes the annual process of replacing ore mined and begins the work of adding additional ounces of gold to Hope Bay’s global gold resources.”

Dr. Farrow added, “Consistent with management’s philosophy of optimizing infrastructure, the additional Doris North BTD ramp development is multifunctional and provides access to the Doris North BTD East Limb, the Doris North BTD Extension, and other drilling platforms to allow targeting of additional exploration areas at increasing depths below the diabase dyke. In addition, this will enable us to begin to realize the long mine-life potential of the Doris high grade mineralized system.”

The primary objective of the 2016 underground exploration program was to build on the existing Doris Mineral Resources and continue to define mineralization below the diabase dyke. Initial underground exploration drilling of the targets below the diabase dyke commenced in March, 2016 from the underground exploration drift completed in the first quarter of 2016 that provided drilling platforms necessary to effectively test high potential targets beneath the diabase dyke. Up to two diamond drills were active through the spring and summer and were successful in targeting both the Doris North BTD East Limb and Doris North BTD Extension zones. Drill results demonstrated continuity of quartz veining and gold mineralization thereby providing TMAC management with the confidence to initiate additional underground development to further test the Doris North BTD zones. Approximately 1,200 metres of ramp development are planned to provide additional drill platforms to further define the Doris North BTD East Limb and Doris North BTD Extension and provide access to the Doris North BTD East Limb for lateral development on the vein. Ramp development will also provide drill platforms necessary to test additional high priority exploration target areas along high-grade trends beneath the diabase dyke south of the Doris North BTD East Limb.

Doris Deposits

The Doris Trend is a north-south oriented structural trend developed within Archean-aged, mafic metavolcanic-dominant, host rocks. The drill results reported here are from the north end of the known extent of the Doris Trend below the Doris North Mineral Reserves. The Doris North Mineral Reserves are those scheduled to be mined in the first two years of full production at the Doris Mine. The Doris North BTD zones are the extension of the Doris North zone below a late, locally relatively flat-lying diabase dyke that bisects the known gold mineralization at Doris into upper and lower elevations. The Doris North BTD zones are further subdivided into the Doris North BTD East Limb and Doris North BTD Extension separated by the east-west offsetting North Fault. The Doris North BTD Extension is interpreted as the down-dropped continuation of the Doris North zone hinge structure on the north side of the North Fault beneath the diabase dyke. The Doris North BTD East Limb is interpreted as the down-dip continuation of the Doris North East Limb mineralization, south of the offsetting North Fault and beneath the diabase dyke. TMAC believes the Doris North BTD exploration areas have the potential to add significant high grade gold ounces to the Doris North Mineral Resources with continued drilling and underground development

Doris North BTD Extension

To date in 2016, TMAC has completed nineteen holes from underground platforms (eight holes previously reported on June 7, 2016) that have intersected the Doris North BTD Extension zone. Drilling has confirmed that the Doris North hinge structure continues to the north below the diabase dyke. The intersected quartz vein widths and gold grades are similar to the Doris North zone above the dyke, currently defined as Proven and Probable Mineral Reserves. Table 1 summarizes the assay results of the Doris North BTD Extension underground drilling to date and Figure 1 illustrates the location of the Doris North BTD Extension and drillhole intercept locations. Highlights from the recent drilling on the Doris North BTD Extension include drillhole TM50019a grading 43.6 g/t Au over 4.2 metres and TM50025 at 26.7 g/t Au over 13.2 metres. The extent of the Doris North BTD Extension zone is not currently well defined and remains open down-plunge and along strike to the north.

TABLE 1: DORIS NORTH BTD EXTENSION 2016 DIAMOND DRILL INTERSECTIONS

* TMAC underground drill hole previously reported in 6/7/2016 release.
1. If no value is provided for true width, then true width is unknown at this time.
2. Individual assay values presented cut and uncut (when applicable) with individual values capped at 250 g/t Au.

FIGURE 1: DORIS NORTH BTD EXTENSION - LONGITUDINAL SECTION SHOWING THE LOCATION OF CURRENT DRILLING.

Doris North BTD East Limb

Results of the initial five drillholes from the Doris North BTD East Limb were announced in June 2016. To date, a total of twenty-six underground diamond drillholes have targeted the Doris North BTD East Limb and have intersected and confirmed the continuity of the Doris North East Limb quartz vein beneath the diabase dyke. The current drilling has defined the Doris North BTD East Limb mineralization on approximately 25 metre centres. Results of all TMAC 2016 underground drilling to date are presented in Table 2 and diamond drillhole locations are illustrated in Figure 3. Highlights from the recent drilling on the Doris North BTD East Limb include TM50027, grading 50.0 g/t Au over 5.1 metres, and TM50030, grading 68.9 g/t Au over 4.3 metres. The initial resource estimate on the Doris North BTD East Limb will be completed and results incorporated into TMAC’s 2017 Mineral Resource and Mineral Reserve statement, expected mid-year 2017.

TABLE 2: DORIS NORTH BTD EAST LIMB 2016 DIAMOND DRILLING INTERSECTIONS.

* TMAC underground drill hole previously reported in 6/7/2016 release.
1. Individual assay values presented cut and uncut (when applicable) with individual values capped at 250 g/t Au.

FIGURE 2: DORIS NORTH BTD EAST LIMB - LONGITUDINAL SECTION SHOWING THE LOCATION OF CURRENT DRILLING.

Doris North BTD Underground Development

To date, exploration drilling success on the Doris North BTD Extension and Doris North BTD East Limb gold mineralized zones has provided the confidence required to initiate underground ramp development below the diabase dyke and open new high potential areas to exploration drilling. The Doris North BTD ramp development is designed to fulfil three primary objectives: 1) provide access to the Doris North BTD East Limb for lateral development on the vein system; 2) provide more proximal drilling platforms to effectively drill the Doris North BTD Extension; and, 3) provide drilling platforms for additional exploration drilling below the diabase in areas of high potential. Figure 3 illustrates the planned ramp development and additional exploration areas to be followed up from the planned development. Access development will commence in the fourth quarter of 2016 from the bottom of the Doris North spiral haulage ramp and will proceed north towards the Doris North BTD East Limb and Doris North BTD Extension. Further exploration diamond drilling will begin in the first quarter of 2017 as development progresses and drilling platforms become available. Development will reach the Doris North BTD Extension and Doris North BTD East Limb area in the third quarter of 2017 providing access to the Doris North BTD East Limb and platforms for infill diamond drilling. The Doris North BTD East Limb zone is sufficiently drilled to allow initial resource models to be estimated; however, the more complicated geometry of the Doris North BTD Extension zone will require extensive infill drilling prior to resource modelling.

FIGURE 3: DORIS NORTH BTD LOCATION OF THE PLANNED ACCESS RAMP AND ADDITIONAL EXPLORATION AREAS ACCESSIBLE FOR UNDERGROUND DIAMOND DRILLING.

ABOUT TMAC RESOURCES

TMAC holds a 100% interest in the Hope Bay Project located in Nunavut, Canada. TMAC is a fully financed, gold development company on target to achieve its Path to Production plan, beginning with the Doris Deposit, by the end of 2016. The Company has a board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines.

SAMPLE PREPARATION, ANALYSIS AND QUALITY ASSURANCE/QUALITY CONTROL

For a complete description of TMAC’s sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Hope Bay Project dated May 28, 2015 entitled “Technical Report On The Hope Bay Project, Nunavut, Canada”, which has an effective date of March 31, 2015 (the “Hope Bay Technical Report”), as filed on TMAC’s profile at www.sedar.com.

SCIENTIFIC AND TECHNICAL INFORMATION

Information of a scientific or technical nature in respect of the Hope Bay Project, other than new information related to Doris mine development, is based upon the Hope Bay Technical Report, as filed on TMAC’s profile at www.sedar.com. Scientific and technical information contained in this document was reviewed and approved by David King, P.Geo., the Vice President, Exploration and Geoscience of TMAC who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

FORWARD-LOOKING INFORMATION

This release contains "forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, bringing the Hope Bay Project into production,

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See “Risk Factors” in the Company’s AIF dated February 25, 2016 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

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