TMAC Resources Makes Important Permitting Step Towards Production at Madrid and Boston

• Review of Final Environmental Impact Statement and Water Licence
  Applications for Madrid and Boston Initiated

TORONTO–(BUSINESS WIRE)–$TMMFF #HopeBay–TMAC Resources Inc. (“TMAC” or the “Company”) is pleased
to report that another milestone has been met on the Company’s path to
production at Madrid and Boston. The Nunavut Impact Review Board (“NIRB”)
and the Nunavut Water Board (“NWB”) have accepted the Final
Environmental Impact Statement and Water Licence applications and are
commencing the coordinated review of TMAC’s proposal for development and
mining at the Madrid and Boston gold deposits. TMAC looks forward to
working with the Kitikmeot Inuit Association, Kitikmeot communities and
government departments during the NIRB and NWB coordinated review
process that is anticipated to provide TMAC with new Project
Certificates and Water Licences in 2018 and 2019 respectively.

Mr. Terry MacGibbon, Executive Chairman of TMAC said, “We are pleased
that the permitting process is proceeding smoothly. We already have an
exploration permit to conduct surface exploration over the entire 80
kilometre by 20 kilometre Hope Bay gold belt. We also have advanced
exploration permits which allow us to go underground at Madrid to
extract a bulk sample and to reopen the portal at Boston to extract a
bulk sample where we have three kilometres of underground
infrastructure. Once the Project Certificates and Type A Water Licenses
are obtained we will be able to put both Madrid and Boston into
production. In total, we will have permits that will allow TMAC to mine
up to 5,600 tonnes per day at Madrid and Boston. 2018 is setting up to
be an exciting year as we commence the work necessary to bring our next
two mines into production.”

ABOUT TMAC RESOURCES
TMAC holds a 100% interest in Hope Bay
located in the Kitikmeot region of Nunavut, Canada. TMAC is a gold
producer with the Doris mine achieving commercial production in the
second quarter of 2017. The Madrid and Boston properties are expected to
commence production in 2020 and 2022, respectively. The Company has an
experienced and expert board of directors combined with exploration,
development and operating teams with extensive track records of
discovering, developing and operating high grade, profitable underground
mines. TMAC’s shares trade on the Toronto Stock Exchange under the
trading symbol TMR.

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
timing for bringing Madrid and Boston into production and the rate of
ramp up at Doris throughout 2018.

Forward-looking information is not a guarantee of future performance and
management bases forward-looking statements on a number of estimates and
assumptions 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 plans, intentions,
activities, results, performance or achievements expressed or implied by
such forward-looking information. See “Risk Factors” in the Company’s
Annual Information Form, dated February 23, 2017, filed on SEDAR at www.sedar.com
for a discussion of these risks.

Contacts

TMAC Resources Inc.
Terry MacGibbon, 416-628-0216
Executive
Chairman
or
Ann Wilkinson, 416-628-0216
Vice President,
Investor Relations
www.tmacresources.com
or
Renmark
Financial Communications Inc.
Daniel Gordon, 416-644-2020 or
514-939-3989
dgordon@renmarkfinancial.com
www.renmarkfinancial.com