McFarlane Lake applies for exploration permit at Juby

Executive Summary

• McFarlane Lake Mining Ltd. has filed an exploration permit with the Ontario Ministry of Mines for up to 10,000 m of drilling at its Juby gold project, targeting multiple high‑priority zones before year‑end.
• The company simultaneously launched an environmental baseline study to support future production permitting and a first closure plan, further derisking the project.
• An updated NI 43‑101 compliant mineral resource estimate for Juby is expected in the coming days.

Key Details

• Permit Application: Submitted through Ontario Ministry of Mines; enables up to 10,000 m of drilling slated to start before year‑end.
• Drilling Plan: Will target several high‑priority zones across the property to expand known mineralization and improve resource confidence.
• Geophysical Work: Induced polarization and magnetic surveys will be conducted to refine drill targets and delineate near‑surface and deeper mineralized trends.
• Environmental Baseline Study: Initiated concurrently with permitting; aims to establish data for future closure planning, advanced exploration permits, bulk sampling, and potential off‑site processing of high‑grade ore.
• Future Milestones: Company will provide further updates as they become available and expects to release an updated mineral resource estimate in the coming days.
• Resource Context (historical): Non‑compliant NI 43‑101 inferred resource of 1,488,000 oz at 0.98 g/t Au and indicated resource of 773,000 oz at 1.13 g/t Au (July 14 2020 report).

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 derisk this highly prospective gold asset.”