McFarlane Receives Exploration Permit

Executive Summary

• McFarlane Lake Mining received an Exploration Permit for its 100 % owned Juby Gold Project in Ontario, enabling diamond drilling, line‑cutting and geophysical work.
• The company has secured two Indigenous‑led drilling partners – Bagone’an (Atikameksheng Anishnawbek First Nation) and Wiijiiwaagan Drilling Ltd. (Matachewan First Nation) – to execute the upcoming 2025‑26 drill campaign.
• The approved permit and new partnerships set the stage for a “transformative” 2026 drilling program aimed at expanding known mineralized zones, testing new targets and supporting future resource growth.

Key Details

• Exploration Permit: Authorizes diamond drilling, line cutting, geophysical surveys and related support activities on the Juby Gold Project.
• Drilling Partnerships:
• Bagone’an – majority‑owned by Atikameksheng Anishnawbek First Nation, partnered with Jacob & Samuel Drilling.
• Wiijiiwaagan Drilling Limited Partnership – owned by Matachewan First Nation Limited Partnership and Longyear Canada.
• Indigenous Communities Involved: Matachewan First Nation, Temagami First Nation, Atikameksheng Anishnawbek First Nation (partnered with Wahnapitae First Nation).
• 2026 Drill Program Objectives:
• Expand existing mineralized zones identified in recent geological modelling.
• Test new targets derived from updated structural interpretation and resource evaluation.
• Generate data to support the next phase of resource growth at Juby.
• Resource Context (NI 43‑101, effective 2025‑09‑29):
• Indicated: 1.01 M oz Au @ 0.98 g/t (31.74 Mt).
• Inferred: 3.17 M oz Au @ 0.89 g/t (109.48 Mt).
• Forward‑Looking Statements: The release contains expectations regarding the scale and impact of the upcoming drill campaign; actual results may differ due to various risk factors outlined in the company’s Annual Information Form.

Notable Quotes

“Receiving the Exploration Permit is a key milestone for McFarlane as we advance toward the largest drilling campaign seen on the property,” – Mark Trevisiol, CEO

Materiality Assessment: Non‑Material – Positive (the announcement provides material operational progress but does not contain immediate financial impact or earnings information).