McFarlane Lake Mining Provides Update on Juby Gold Project

Executive Summary

• McFarlane Lake Mining provided an operational update on its Juby Gold Project, highlighting a NI 43‑101 compliant mineral resource estimate of 1.01 Moz (Indicated) and 3.17 Moz (Inferred) as of September 29 2025.
• The company is preparing a 10,000–15,000 m diamond drilling program aimed at expanding gold ounces in the Juby and Golden Lake zones, and has identified ~2,000 m of historic core prioritized for assay results expected in coming weeks.
• The board approved the grant of 35.1 million stock options at $0.10 per share to directors, officers and consultants, exercisable through November 2 2030.

Key Details

• Mineral Resource Estimate (effective 2025‑09‑29):
• Indicated: 1.01 Moz Au @ 0.98 g/t from 31.74 Mt.
• Inferred: 3.17 Moz Au @ 0.89 g/t from 109.48 Mt.
• Sensitivity analysis (US$3,750/oz):
• Indicated: 1.20 Moz Au @ 0.94 g/t (39.51 Mt).
• Inferred: 4.23 Moz Au @ 0.85 g/t (154.50 Mt).
• Exploration activities:
• Review of >110,000 m historic core; ~10,000 m previously unsampled identified, with ~2,000 m prioritized for immediate assay.
• Planned diamond drilling program: 10,000–15,000 m targeting gold‑rich zones, especially Juby and Golden Lake.
• Permitting & stakeholder engagement:
• Early-stage discussions with First Nations holding territorial rights; invitations to bid on drilling work extended to capable Indigenous groups.
• Received proposals for environmental baseline studies to support permitting for future ore extraction.
• Corporate actions:
• Engagement of Alliance Advisors IR for investor‑relations support.
• Attendance at Red Cloud Mining Showcase (Nov 4‑5, 2025) and recent presentation at Northern Ontario Prospectors Conference.
• Stock Option Grant:
• Aggregate of 35,100,000 options granted to directors, officers and consultants.
• Exercise price: $0.10 per share; vesting provisions as approved by the board; expiry November 2 2030.

Notable Quotes

• “The team at McFarlane is extremely excited to be participating in what is one of Ontario's larger gold resource properties.” – Mark Trevisiol, CEO & President

All forward‑looking statements are subject to risks and uncertainties detailed in the Company’s November 27 2024 Annual Information Form.