McFarlane Lake Mining Submits Exploration Permit Application and Initiates Environmental Baseline Study at Juby Gold Project

Executive Summary

• McFarlane Lake Mining Limited submitted an Ontario Ministry of Mines exploration permit for the Juby Gold Project, enabling up to 10,000 m of drilling slated to start before year‑end.
• The upcoming program will incorporate IP and magnetic geophysical surveys and an environmental baseline study to support future production permitting and de‑risk the project.
• An updated mineral resource estimate is expected to be released in the coming days.

Key Details

• Permit Submission: Exploration permit filed with Ontario Ministry of Mines for the flagship Juby Gold Project near Gowganda, ON.
• Drilling Scope: Up to 10,000 m of drilling planned before year‑end targeting multiple high‑priority zones across the property.
• Geophysical Work: Planned Induced Polarization (IP) and magnetic surveys to refine drill targets and delineate near‑surface and deeper mineralized trends.
• Environmental Baseline Study: Initiated concurrently to support responsible development, future production permitting timetables, and the first closure plan.
• Advanced Exploration Permit Pathway: Baseline study will lay groundwork for an Advanced Exploration Permit, allowing bulk sampling and potential shipment of high‑grade ore for offsite processing.
• Resource Context: Juby Gold hosts a non‑compliant NI 43‑101 inferred resource of 3.17 M oz @ 0.98 g/t Au and indicated resources of 773,000 oz @ 1.13 g/t Au (historical data). Company is updating these to be fully compliant.
• Upcoming Update: Company expects to release an updated Mineral Resource Estimate in the coming days.

Notable Quotes

“The submission of our exploration permit marks an important step forward for the Juby Gold Project,” said Mark Trevisiol, CEO of McFarlane Lake Mining. “We are aligning our exploration plans with strong environmental stewardship and regulatory compliance as we advance development and de‑risk this highly prospective gold asset.”