Maple Gold Mines — Capital/Financing Update 2020

Dec 22, 2020

FORM 51-102F3 MATERIAL CHANGE REPORT

1.

Name and Address of Company

Stelmine Canada Ltée (the « Company ») 8255, boul. Henri-Bourassa,Office 230 Québec (Québec) G1G 4C8

2.

Date of Material Change

December 21, 2020.

3. News Release

The press release was issued and distributed on December 21, 2020.

4.

Summary of Material Change

Closing of has a non-brokered private placement of $600,050 .

5.

Full Description of Material Change

Québec, Québec, December 21st, 2020 - Stelmine Canada Ltd. (“Stelmine”) (TSX-V: STH) announces today that it has completed a non-brokered private placement (the “Placement”) with a lead order from Palisades Goldcorp Ltd. A total of 8,572,142 common shares of the Company (“Shares”) were issued in this Placement, for total proceeds of $600,050.

The $600 050 Placement consisted of the issuance of:

• 8,572,142 units (the “Units”) at a price of $0.07 per unit, for gross proceeds of $600,050. Each Unit is composed of one (1) common share of Stelmine (“Share”) and one (1) warrant, each warrant entitling its holder to subscribe to one (1) Share at a price of $0.12 per Share during a 36month period.

All securities issued in connection with this Placement are subject to a hold period of four months and one day. The Placement is subject to the approval of the TSX Venture Exchange. Stelmine has not filed a material change report in the 21 days preceding the Placement other than in relation to the Placement.

The proceeds of this Placement will be used for the Company’s operating costs, working capital and exploration expenses.

6. Confidentiality of Material Change Report - Reliance on subsection 7.1(2) of Regulation 51-102

Not applicable.

7. Omitted Information

Not applicable.

8. Executive Officer

Isabelle Proulx Présidente et chef de la direction 581-998-1222 iproulx@stelmine.com

9. Date of Report

December 21, 2020