Drill Results

Drilling intersects 92.6 metres (m) of 0.95 g/t gold

McFarlane Lake Drills 92.6m of 0.95 g/t Au at Juby, Extending Low-Grade Envelope as Cash Burn Accelerates

By The Northwire Desk — AI Analysis Mar 30, 2026 · 07:30 MLM · 0.13 MCFARLANE LAKE MINING LIMITED

Executive Summary

On March 30, 2026, McFarlane Lake reported drill hole GL-76-72 intersected 92.6 metres grading 0.95 g/t gold, including a higher-grade core of 23.9 metres at 1.72 g/t and 7.15 metres at 3.46 g/t.
The intercept lies outside the September 2025 NI 43-101 resource envelope, confirming lateral expansion of the Golden Lake zone within the broader Juby Gold Project.
Two additional holes (GL-76-73A and GL-76-74) logged over 100 metres of continuous visual mineralization, with assays pending.
Approximately 5,000 metres of the planned 13,000-metre drill program have been completed. Management intends to add 1,000-1,500 metres at Golden Lake and shift a rig to the Juby deposit for 4,000-5,000 metres in the coming weeks.
Drilling operations are contracted through Indigenous-led firms, and QA/QC protocols comply with NI 43-101 standards.

Material Impact

The release is positive but fully expected. The 13,000-metre program was publicly announced in December 2025 and January 2026, and the market has been pricing in incremental assay results.
Grades are consistent with the project's established bulk-tonnage, low-grade profile (~0.9-1.0 g/t average). While the 92.6-metre width is encouraging for open-pit economics, it does not represent a step-change in grade or immediate resource uplift.
The stock traded at $0.13 on the release date, consolidating below its early March high of $0.17, indicating the market views this as routine progress rather than a near-term catalyst.
No immediate financial or operational milestones are altered. The company remains in a capital-intensive exploration phase with no updated resource estimate or feasibility timeline provided.

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Company Overview

McFarlane Lake Mining is a Canadian junior gold explorer focused on advancing its 100%-owned Juby Gold Project in Ontario.
The Juby Project hosts a September 2025 NI 43-101 compliant resource of 1.01 million ounces Indicated at 0.98 g/t and 3.17 million ounces Inferred at 0.89 g/t.
The company also holds interests in the Knight (25%), McMillan, Mongowin, and Michaud/Munro properties, while divesting non-core assets (High Lake and West Hawk Lake) in October 2025 to concentrate capital on Juby.
Management's stated strategy is to expand the resource base through systematic drilling, complete environmental baseline work, and advance toward permitting and eventual development.

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