TORONTO, Ontario — December 18, 2025 — Leads & Copy — McFarlane Lake Mining Limited has started exploration drilling at its Juby Gold Project, located west of Gowganda, Ontario. The project is 100% owned by McFarlane.
Mark Trevisiol, President and CEO of McFarlane Lake Mining Limited, stated that commencing drilling at Juby is an important milestone for McFarlane. He added that the company is beginning a meaningful exploration program on one of the largest gold systems in the southern Abitibi.
The program plans up to 13,000 meters of drilling across multiple zones, including priority targets at Golden Lake and Juby. The program is designed to expand known mineralization and test the project’s depth and strike potential. Trevisiol believes that Juby offers significant upside, and this drilling campaign is a key step toward unlocking that value for shareholders.
Drilling personnel and equipment are at the site. The first hole has been collared and drilling has commenced. The 8.7-kilometer strike length on the property covers four mineralized zones, which are Juby, Golden Lake, Big Dome, and Hydro Creek. The surface location of the new exploration drill holes are highlighted in a plan view.
The first hole is a follow-up to one drilled in 2013 in the “826” zone area, with 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 will occur at the Golden Lake zone and the Juby zone. On December 11, 2025, McFarlane released details of its drilling program. Both the Golden Lake and Juby zones will be targeted mainly at depth to explore for new gold mineralization.
McFarlane expects to complete the planned 12,000 to 13,000 meters of drilling by May of 2026.
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.
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.
Further Information Contacts:
Mark Trevisiol, Chief Executive Officer, President and Director
(705) 665-5087
mtrevisiol@mcfarlanelakemining.com
Kaitlin Taylor, Investor Relations
(778) 887-6861
investors@mcfarlanelakemining.com
Source: McFarlane Lake Mining Limited
