Early Drilling Extends Gold Mineralization

Core Insights - McFarlane Lake Mining Limited has reported early success in its exploration campaign at the Juby Gold Project, indicating promising gold mineralization [1][12] Exploration Results - The "826 Zone" gold mineralization has been extended by 80 meters, with unsampled previously drilled core returning 7.2 g/t gold over 1.2 meters [3][4] - Drill hole JU826-142 logged 20 occurrences of visible gold over an 11-meter interval starting at 33 meters below the surface, with assays pending [4] - Drill hole JU826-141 intersected near-surface gold mineralization, returning 2.09 g/t Au over 4.17 meters within a broader interval of 0.70 g/t Au over 28.17 meters [4][9] Additional Drilling Plans - In response to early drilling results, the company has approved an additional 500 to 600 meters of drilling to further define the 826 Zone [4][12] - The next phase of drilling will focus on the Golden Lake and Juby zones, targeting mineralization expansion at depth [13] Historical Data Utilization - The company is assaying previously unsampled drill core from 2003 to 2011, with key results including 0.65 g/t Au over 4.75 meters and 0.77 g/t Au over 3.69 meters [4][10] Resource Estimates - The Juby Gold Project hosts 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 [19][20] - A sensitivity analysis 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 [20]