McFarlane Targets Resource Expansion at Juby Gold Project

Executive Summary

• McFarlane Lake Mining announces a 2025‑2026 diamond drilling program of 12,000–13,000 m at the Juby Gold Project – the largest single drill campaign in the project's history.
• The program targets an additional 15 – 30 million t of gold mineralization at 0.9 – 1.1 g/t Au, focusing on the Golden Lake and Juby zones following a lowered resource cut‑off grade to 0.25 g/t Au.
• Parallel activities include sampling ~2,000 m of historic core (first phase of a planned ~10,000 m) and ongoing baseline environmental monitoring.

Key Details

• Drilling Scope: 12,000–13,000 m of diamond drilling across Golden Lake and Juby zones.
• Targeted Resource Expansion: 15–30 Mt at 0.9–1.1 g/t Au (≈ 13,500–33,000 oz Au).
• Cut‑off Grade Change: From 0.40 g/t to 0.25 g/t Au for open‑pit modeling, reflecting higher gold price assumptions.
• Historical Core Sampling: Initial 2,000 m of top‑priority historic core being sampled; total planned sampling ≈ 10,000 m.
• Environmental Work: Baseline studies commenced Dec 1 2025; surface water samples collected weekly with quarterly follow‑up.
• Resource Context (as of Sep 29 2025):
• Indicated: 1.01 Moz Au @ 0.98 g/t (31.74 Mt)
• Inferred: 3.17 Moz Au @ 0.89 g/t (109.48 Mt)
• Sensitivity Analysis (Gold $3,750/oz): Potential increase to 1.20 Moz Indicated and 4.23 Moz Inferred resources.
• Technical Oversight: Qualified Person – Bob Kusins, P.Geo; reviewed by CEO Mark Trevisiol, P.Eng.

Notable Quotes

“Our upcoming drilling program, combined with the ongoing sampling of historic core, provides a dual approach to increasing our resources quickly and cost‑effectively. We’re confident this next phase of exploration will unlock additional value for our shareholders.” – 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.