McFarlane Lake Mining drills 179 metres of 0.87 g/t gold and 155 metres of 0.9 g/t gold at Juby Project, Ontario
McFarlane Lake Mining Ltd. [CSE: MLM; OTC: MLMLF; FRA: W2Z] reported 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.
Highlights: The Golden Lake Deposit continues to show excellent potential to add significant gold mineralization. From recent exploration drilling the strike length of gold mineralization has now extended to 1.9 km in length from a previously announced 0.75 km. Further holes GL26-83 and GL26-83A demonstrate a widening of the mineralization from the existing open pit shell, this not only increases revenue potential but also favourably affects the economics of extraction.
Most Western drilled hole extends strike to 1.9 km: Assays from hole GL26-87 (93 m of 0.89 g/t gold) have confirmed a significant intersection on the most western hole drilled in the program on the Golden Lake deposit. This intersection not only extends the strike length to 1.9 km but demonstrates the deposit remains open to the west and at depth in this area.
New Mineralized Lens widens open pit outline in Hanging Wall: Commencing at 34 metres from surfaces Hole GL- 83A intersected 179.10 metres of 0.87 g/t gold which includes 15.55 metres of 1.58 g/t gold and 6.9 metres of 2.33 g/t gold. Commencing at 65.85 metres from surface Hole GL-83 intersected 155 metres of 0.9 g/t gold which includes 11.4 metres of 2.37 g/t gold. Both holes intersected gold mineralization close to surface and about 250 metres before its targeted mineralized area. Mineralization in the hanging wall area of the pit outline was unexpected and but now creates an opportunity to step back and test the extension (widening) in this area.
New Multiple mineralization intercepts at 826 zone: Mcfarlane has recently drilled eight new holes on the 826 zone covering an additional 1,350 metres. Full assays are expected on the drilling in the coming weeks. Geologists have reported in the core logs that several intercepts of mineralization were encountered. These intercepts follow previous trends of mineralization seen from past drilling and widen the mineralization “dome” that was reported in detail on March 2, 2026 announcement.
Drilling was targeting geophysical chargeability anomalies that follow an southeast/northwest trend and which are detailed in a previous announcement (May 26, 2026). McFarlane is currently engaged with Geoscience North who has teamed up with support from Laurentian University to analyze past geophysical data on the property and propose next steps.
Mark Trevisiol, McFarlane’s CEO, commented, “Both Golden Lake and 826 zone continue to impress. We are looking forward to updating the MRE and demonstrate to our stakeholders how extensive the gold system on our property is. We believe we are just ‘scratching the surface’ on this property with significant upside to add significantly more gold mineralization.”
Drilling at site continues on both Golden Lake and the Juby deposit. Drilling on Golden Lake will concentrate both on infill and some exploratory drilling. On the Juby deposit drilling will focus on grade control sampling for the upcoming Bulk Sample which is planned in 2027.
All the drilling for the upcoming Mineral Resource Estimate (MRE) concluded at the end of June. There was an unplanned 10-day delay in receiving assays due to equipment failure at the assay lab; however, as of today’s announcement, all assays for the upcoming MRE have been received. McFarlane now expects the MRE to be issued in the next two to three weeks.
McFarlane is also continuing with Environmental Baseline work on the property. Approximately 19 ground water wells have now been drilled with monthly surface and ground water sampling continuing. Field studies have commenced for vegetation and terrestrial analysis. Environmental Baseline work has been reviewed with all three First Nation communities who have territorial rights in the area. 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.
McFarlane Lake Mining Limited is 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 (MRE) 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/oz, 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/oz 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 NI 43-101 standards.
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 km west of Sudbury and the Michaud/Munro properties located 115 km east of Timmins. McFarlane is a reporting issuer in Ontario, British Columbia, and Alberta.