McFarlane Lake begins exploration drilling at Juby

Executive Summary

• McFarlane Lake Mining Ltd. has commenced exploration drilling at its 100%-owned Juby gold project in Ontario, marking the start of a significant exploration campaign.
• The company plans to drill between 12,000 and 13,000 metres across multiple zones, with completion expected by May 2026.
• The program aims to expand known mineralization and test depth/strike potential, specifically targeting the 826 zone, Golden Lake zone, and Juby zone.

Key Details

• Drilling Scope: Up to 13,000 metres of drilling planned across multiple zones.
• Timeline: Drilling commenced with the first hole collared; expected completion by May 2026.
• 826 Zone: The first hole is a follow-up to a 2013 drill hole. Two additional holes are planned in this area to expand upon gold mineralization intersected in 2013 and test for continued mineralization at depth and along strike.
• Golden Lake and Juby Zones: The bulk of the drilling will target these areas mainly at depth to explore for new gold mineralization.
• Resource Context (Effective Sept 29, 2025):
  • Indicated: 1.01 million ounces at 0.98 g/t Au (31.74 million tonnes) using a $2,500/oz gold price.
  • Inferred: 3.17 million ounces at 0.89 g/t Au (109.48 million tonnes) using a $2,500/oz gold price.
  • Sensitivity Analysis ($3,750/oz): Indicated resource of 1.20 million ounces at 0.94 g/t Au; Inferred resource of 4.23 million ounces at 0.85 g/t Au.
• Additional Activities: Environmental baseline studies are being advanced to support bulk sample applications and future mining permits.

Notable Quotes

• "Commencing drilling at Juby is an important milestone for McFarlane as we begin a meaningful exploration program on one of the largest gold systems in the southern Abitibi... We believe Juby offers significant upside, and this drilling campaign is a key step toward unlocking that value for shareholders." — Mark Trevisiol, President and CEO