Maritime Announces the Resignation of Mr. David McCue

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2017) - Maritime Resources Corp. (TSXV: MAE) ("Maritime" or "the Company") announces that Mr. David McCue has resigned as Chairman and Director of the Company effective April 24^th, 2017.Dave was one of the original founding directors of the Company in 2007 and has remained active both on the board and as the Company's Chairman.On behalf of the board and employees of the Company, we thank him for his years of dedication and wish him a happy retirement and best wishes on his future endeavors.Dave will continue to act as an advisor to the Company.

Mr. Allan Williams will replace Dave as Chairman and take an active role as the company moves to advance the Hammerdown gold project back into production. Allan is also one of the original founders and directors of the Company with as over 30 years of experience in managing junior companies.He has been active with Maritime during early development stages of Hammerdown and has played a key role in its marketing efforts.We look forward to Allan filling the role as Chairman as the Company continues to build and grow.

About Maritime Resources Corp.:

Maritime Resources holds 100% of the Green Bay Property, located near Springdale, Newfoundland and Labrador.The property hosts the past producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5 km distance, as well as the Lochinvar base metals/precious metals deposit.

The company recently announced a PFS (March 2^nd, 2017) that successfully demonstrated a viable mining operation with low upfront capital and short time line to the start of gold production.The engineering design optimizes a small foot print within the historical mine area as well as utilizing some of the existing underground infrastructure where possible.The operation is schedule to run at a capacity of approximately 400 metric tons per day ('mtpd') over a five-year mine life.

The results show positive economics, strong internal rate of return, short payback period and significant cash flow under reasonable commodity price assumptions.The pre-tax operating cash cost to produce an ounce of gold is $558 CDN with an all-in pre-tax-cost (including capital, sustaining capital and operating cost) of $955 CDN per ounce of gold.

In addition, there remain numerous opportunities for improvement to reduce the planned development and capital costs.Maritime will continue to evaluate these opportunities with a goal to fully optimize the returns from the mining operation.

The Hammerdown gold deposit was successfully mined by Richmont Mines between 2000 and 2004 while gold prices averaged $325/oz.During its operation, a total of 291,400 tonnes of ore were mined and milled, at an average grade of 15.83 g/t Au, recovering a total of 143,000 ounces of gold at an 8 g/t cut-off.All of the ore was processed at the Nugget Pond mill, now owned and operated by Rambler Metals and Mining Canada Limited, with an average gold recovery of 97.1%.Mining terminated in 2004 due to low gold prices with extensive gold mineralization remaining, although uneconomic at that time.

The Orion gold deposit consists of two main vein systems, both of which are open along strike, and down plunge to the northeast.

Bernard H. Kahlert, P.Eng. is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this release.

On behalf of the Board of Directors,

Doug Fulcher
President, CEO

Website: www.maritimeresourcescorp.com

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements".Such forward-looking statements include, without limitation, statements regarding gold forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company.Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis.Such assumptions include, without limitation, the price of and anticipated costs of recovery of gold, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others.However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations.Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per ounce sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection.Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.