CORRECTION FROM SOURCE: Mcfarlane Lake Mining Submits Exploration Permit Application and Initiates Environmental Baseline Study at Juby Gold Project

Executive Summary

• McFarlane Lake Mining submitted an Ontario Ministry of Mines exploration permit for the Juby Gold Project, enabling up to 10,000 m of drilling before year‑end.
• The upcoming program will include IP and magnetic geophysical surveys and an environmental baseline study to support future production permitting and bulk‑sampling plans.
• The company anticipates releasing an updated NI 43‑101 compliant mineral resource estimate in the coming days.

Key Details

• Permit: Exploration Permit filed with Ontario Ministry of Mines for the Juby Gold Project (near Gowganda, ON).
• Drilling Scope: Up to 10,000 metres of drilling slated to start before year‑end, targeting multiple high‑priority zones across the property.
• Geophysics: Planned Induced Polarization (IP) and magnetic surveys to refine drill targets and delineate near‑surface and deeper mineralized trends.
• Environmental Work: Initiated an environmental baseline study to underpin responsible development, future production permitting timetables, and a first closure plan.
• Future Permit Pathway: Baseline study will facilitate filing for an Advanced Exploration Permit, which would allow bulk sampling and potential off‑site processing of high‑grade ore.
• Resource Context: Juby Gold currently holds a non‑compliant (historical) inferred resource of 1,488,000 oz at 0.98 g/t Au and an indicated resource of 773,000 oz at 1.13 g/t Au; these are being updated to full NI 43‑101 compliance.
• Upcoming Disclosure: Company expects to publish 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.”