McFarlane Lake to complete Juby environmental studies

Executive Summary

• McFarlane Lake Mining Ltd. has engaged Pinchin Ltd. to conduct comprehensive baseline environmental studies for its Juby gold project in Ontario.
• The studies are critical for future permitting, engineering design, and long-term development planning, covering hydrogeology, hydrology, geochemistry, and terrestrial/aquatic habitats.
• The release reiterates the company's current National Instrument 43-101-compliant mineral resource estimate for the Juby project, including sensitivity analyses at different gold prices.

Key Details

• Environmental Study Scope: Pinchin Ltd. will perform a suite of baseline studies to support permitting and development, including:
  • Hydrogeological and hydrological baseline study to characterize groundwater flow, aquifer conditions, and surface water-groundwater interactions (required under the Mine Rehabilitation Code of Ontario).
  • Geochemical testing to evaluate potential for acid rock drainage and metal leaching from mine rock, tailings, and overburden.
  • Terrestrial baseline program assessing vegetation communities, wildlife habitat, and potential species at risk.
  • Aquatic baseline program documenting surface water, wetland, and riparian conditions within and downstream of the project footprint.
• Mineral Resource Estimate (Effective Sept. 29, 2025):
  • Indicated: 1.01 million ounces of gold at an average grade of 0.98 g/t Au (31.74 million tonnes).
  • Inferred: 3.17 million ounces of gold at an average grade of 0.89 g/t Au (109.48 million tonnes).
  • Cut-off Grades: 0.25 g/t Au for open pit; 1.85 g/t Au for underground.
  • Gold Price Assumption: $2,500 USD/oz.
• Sensitivity Analysis ($3,750 USD/oz Gold Price):
  • Indicated: 1.20 million ounces of gold at 0.94 g/t Au (39.51 million tonnes).
  • Inferred: 4.23 million ounces of gold at 0.85 g/t Au (154.50 million tonnes).
  • Cut-off Grades: 0.25 g/t Au for open pit; 1.15 g/t Au for underground.
• Technical Report: Prepared by BBA E&C Inc. and filed on SEDAR+ on Nov. 21, 2025.
• Company Assets: In addition to Juby, McFarlane holds 100%-owned gold assets in Ontario, including the past-producing McMillan gold mine, Mongowin properties (west of Sudbury), and Michaud/Munro properties (east of Timmins).

Notable Quotes

• "Launching these vital environmental studies is an important step forward for the Juby gold project. Pinchin's work will give us a detailed understanding of current site conditions and provide the data we need to advance engineering, permitting for ore extraction and long-term development planning." — Mark Trevisiol, CEO and President