McFarlane Lake Mining Limited (CSE: MLM) (OTC: MLMLF) (FRA: W2Z) is pleased to announce further results from its diamond drilling exploration campaign being conducted on its 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern part of the “Abitibi Greenstone Belt”. Drilling was initiated on the property in December 2025, commencing at the 826 Zone, and is now at the Golden Lake Zone (see Figure 1).

Highlights

• Drill hole GL 26-73A at Golden Lake has intersected 0.67 g/t gold over 136 metres, this includes 19.55m of 1.51 g/t gold and 51.35m of 0.78 g/t gold. See Figure 2 and Tables 1 and 2.
• Previously announced drill hole GL 26-71 (95.4m of 1.36 g/t gold – March 2, 2026) has been updated and restated after study of the assays and drill core. A new intersection of 208.2m containing 0.88 g/t gold is announced. See Figure 3 and Tables 1 and 2. This includes:
  • 95.4m of 1.36 g/t gold (which includes 55.4m of 1.96 g/t gold and 9.9m of 3.22 g/t gold),
  • 45.15m of 0.74 g/t gold,
  • 26.7m of 0.68 g/t gold,
  • 18m of 0.05 g/t gold, and 22.95m of 0.08 g/t gold.
• The widths of the intercepts continue to exceed expectations. Drill holes GL 26-74, 26-75, and 26-76 (See Figure 4) have been completed and are being prepared for sampling to the lab. All three holes have encountered mineralization as noted in the drill logs. Mineralization of over 100m has been logged in each of these holes.
• Figure 4 highlights the extension of mineralization at Golden Lake Deposit
• Approximately 6,000m have been drilled thus far on the Juby Gold Project, against an original plan of 13,000m.

“These drilling results continue to exceed our original expectations. The widths of these intercepts are impressive, and with long-term gold prices hovering around US$3,000 per ounce, there is plenty of room to push drilling deeper to explore for even a greater envelope of mineralization. Our team is focused on demonstrating the true upside potential of the Juby Gold Project,” said Mark Trevisiol, CEO and Chairman of McFarlane.

There are currently two diamond drill rigs at site, both focusing on drilling at the Golden Lake deposit. Originally, 14 diamond drill holes were planned for the Golden Lake deposit; however, based on feedback from drilling to date, McFarlane will increase drilling at Golden Lake by at least 1,000m. One of the two diamond drills will transfer to the Juby deposit within the next month, where approximately 4,000-5,000m are planned. See Figure 5 for the exploration plan at Juby.

Drilling being conducted at site is contracted through two separate firms, each having a business partnership with two of the three First Nation communities that have territorial rights on the property. There are three First Nation communities recognized as having territorial rights within the Juby Gold Project; they include Matachewan First Nation, Temagami First Nation and Atikameksheng Anishnawbek First Nation.

Figure 1 – Juby Gold Project – Plan View of Exploration Drilling Program Showing Drill Hole Locations at Golden Lake, Juby and 826 Zones

Figure 2 – Golden Lake Deposit Intersection Hole GL 26-73A – Section Looking Northwest

Figure 3 – Hole GL26-71 – Section Looking Northwest

Figure 4- Extension of Mineralization- Golden Lake Deposit Looking North

Table 1 – Golden Lake Collar Information

*Table 2 – Golden Lake Zone intercepts

Figure 5 shows the area of planned drilling on the Golden Lake and Juby deposits in the upcoming weeks.

Figure 5 – Planned Area of Exploration for Golden Lake and Juby Resource Areas

About McFarlane Lake Mining Limited

McFarlane Lake Mining Limited is a Canadian gold exploration company focused on advancing its flagship Juby Gold Project, located near Gowganda, Ontario, within the established Abitibi Greenstone Belt. The Juby Gold Project hosts a current (effective September 29, 2025) NI 43-101 compliant Mineral Resource Estimate of 1.01 million ounces of gold in the Indicated category at an average grade of 0.98 g/t gold (31.74 million tonnes) and an additional 3.17 million ounces of gold in the Inferred category at an average grade of 0.89 g/t gold (109.48 million tonnes). The estimate was calculated using a long-term gold price of US$2,500 per ounce, applying cut-off grades of 0.25 g/t gold for open pit and 1.85 g/t gold for underground resources.

A sensitivity analysis completed at a higher gold price of US$3,750 per ounce resulted in an Indicated Mineral Resource of 1.20 million ounces grading 0.94 g/t gold (39.51 million tonnes) and an Inferred Mineral Resource of 4.23 million ounces grading 0.85 g/t gold (154.50 million tonnes) applying cut-off grades of 0.25 g/t gold for open pit and 1.15 g/t gold for underground resources.

The independent MRE was prepared by BBA E&C Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The full technical report supporting the resource estimate was filed on SEDAR+ on November 21, 2025, and is also available on the Company’s website www.mcfarlanelakemining.com.

McFarlane is actively executing an exploration drilling program as detailed herein, and additional technical studies at the Juby Project to further evaluate and advance this large-scale gold system.

In addition to Juby, McFarlane holds a portfolio of 100%-owned gold assets across Ontario, including the past-producing McMillan Gold Mine and Mongowin properties located approximately 70 kilometres west of Sudbury and the Michaud/Munro properties located 115 kilometres east of Timmins. McFarlane is a reporting issuer in Ontario, British Columbia, and Alberta.

Readers are cautioned to refer to the “Cautionary Statement on Mineral Resources” and all other disclaimers included in this news release for important information regarding the limitations and verification status of the data presented above and elsewhere herein.

To learn more, visit: https://mcfarlanelakemining.com/.

Additional information on McFarlane can be found by reviewing its profile on SEDAR+ at www.sedarplus.com.

Further Information

For further information regarding McFarlane, please contact:

Mark Trevisiol,
Chief Executive Officer, President and Director
McFarlane Lake Mining Limited
(705) 665-5087
mtrevisiol@mcfarlanelakemining.com

Bryan Baritot,
Investor Relations
McFarlane Lake Mining Limited
investors@mcfarlanelakemining.com