McFarlane Commences Exploration Drilling at Juby Gold Project

Core Viewpoint - McFarlane Lake Mining Limited has commenced exploration drilling at its 100%-owned Juby Gold Project, marking a significant milestone in its exploration program aimed at expanding known mineralization and testing the project's potential [2][3]. Company Overview - McFarlane Lake Mining Limited is a Canadian gold exploration company focused on the Juby Gold Project located in the Abitibi Greenstone Belt, Ontario [10]. - The Juby Gold Project has a current 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 and an additional 3.17 million ounces in the Inferred category at an average grade of 0.89 g/t gold [10][11]. Drilling Program Details - The drilling program at the Juby Gold Project includes plans for 12,000 to 13,000 metres of drilling, expected to be completed by May 2026 [4]. - The drilling will primarily target the Golden Lake and Juby zones, focusing on exploring new gold mineralization at depth [3][4]. - The first hole drilled is a follow-up to a previous hole from 2013 in the "826" zone area, with two additional holes planned in this area to expand upon previously intersected gold mineralization [2][3]. Mineral Resource Sensitivity - A sensitivity analysis at a higher gold price of US$3,750 per ounce indicates an Indicated Mineral Resource of 1.20 million ounces grading 0.94 g/t gold and an Inferred Mineral Resource of 4.23 million ounces grading 0.85 g/t gold [11].