McFarlane Lake receives exploration permit at Juby

Executive Summary

• McFarlane Lake Mining Ltd. has received its exploration permit for the Juby gold project, authorizing diamond drilling, line cutting, and geophysical surveys.
• The permit approval facilitates the company's 2025-2026 drill campaign, with specific contracts awarded to two drilling partners involving First Nation communities.
• The upcoming 2026 program aims to expand known mineralized zones, evaluate new targets, and support future resource growth based on updated geological modeling.

Key Details

• Permit Scope: The exploration permit authorizes diamond drilling, line cutting, geophysical surveys, and associated exploration support work at the 100%-owned Juby gold project.
• Drilling Partners: Contracts awarded to two groups:
  • Bagone'an (partnership majority owned by Atikameksheng Anishnawbek First Nation with partners Jacob & Samuel Drilling).
  • Wiijiiwaagan Drilling LP (partnership owned by Matachewan First Nation LP and Longyear Canada).
• Strategic Context: The permit follows the Dec. 11, 2025 announcement regarding progress toward restarting exploration activities.
• Project Location: Juby gold project, located west of Gowganda, Ont., within the southern part of the Abitibi greenstone belt.
• Resource Context (Effective Sept. 29, 2025):
  • Indicated: 1.01 million ounces at 0.98 g/t Au (31.74 million tonnes).
  • Inferred: 3.17 million ounces at 0.89 g/t Au (109.48 million tonnes).
  • Calculated using a gold price of $2,500/oz.
• Sensitivity Analysis ($3,750/oz):
  • Indicated: 1.20 million ounces at 0.94 g/t Au (39.51 million tonnes).
  • Inferred: 4.23 million ounces at 0.85 g/t Au (154.50 million tonnes).
• Community Engagement: The project involves three recognized First Nation communities with territorial rights: Matachewan First Nation, Temagami First Nation, and Atikameksheng Anishnawbek First Nation.

Notable Quotes

• "Receiving the exploration permit is a key milestone for McFarlane as we advance toward the largest drilling campaign seen on the property," said Mark Trevisiol, chief executive officer. "With established drilling partners and clear technical objectives, we are well positioned to move into the next phase of exploration and unlock additional potential of the project."