McFarlane Commences Exploration Drilling at Juby Gold Project

Press Release

Toronto, Canada – December 18, 2025 – McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF) is pleased to announce that exploration Drilling has commenced at its 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern part of the “Prolific Abitibi Greenstone Belt”.

“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,” said Mark Trevisiol,  President and CEO of McFarlane Lake Mining Limited. “With up to 13,000 metres planned across multiple zones, including priority targets at Golden Lake and Juby, this program is designed to expand known mineralization and test the project’s depth and strike potential. We believe Juby offers significant upside, and this drilling campaign is a key step toward unlocking that value for shareholders.”

Drilling personnel and equipment are at site (see Figure 1) and have collared and commenced drilling on the first hole. Figure 2 highlights the 8.7-kilometre strike length on the property that covers four mineralized zones (Juby, Golden Lake, Big Dome, Hydro Creek). Figure 3 details a plan view highlighting the surface location of the new exploration drill holes. The first hole is a follow-up to one drilled in 2013 in what is termed the “826” zone area. There are two more holes planned in this area. The objective of drilling in the 826 zone is to expand upon gold mineralization intersected in 2013 and to test for continued mineralization at depth and along strike.

The bulk of the drilling, however, will take place at the Golden Lake zone and the Juby zone. On December 11, 2025, McFarlane released details of its drilling program. See this link for further details: mcfarlanelakemining.com/2025/12/mcfarlane-targets-resource-expansion-at-juby-gold-project/. Both the Golden Lake and Juby zones will be targeted mainly at depth to explore for new gold mineralization.

There are 12,000 to 13,000 metres of drilling planned for this phase. McFarlane expects to complete the drilling by May of 2026.

Figure 1 – Drilling equipment and Operating Personnel at Juby Gold Project

Figure 2 – Plan view of Juby Gold Project Highlighting 4 Zones of Mineralization

Figure 3 – Plan view of Drill Holes for Exploration Program

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 (“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 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 has recently announced its planned exploration drilling program (see announcement December 11, 2025) and is further advancing environmental baseline studies at the Juby Gold Project to support background data required for bulk sample applications and future mining permits.

In addition to the Juby Gold Project, 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 Lake Mining Limited 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

Kaitlin Taylor,
Investor Relations
McFarlane Lake Mining Limited
(778) 887-6861
investors@mcfarlanelakemining.com

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