McFarlane intersects 179 metres (m) of 0.87 grams/tonne (g/t) Gold and 155 m of 0.9 g/t Gold

Evidence · text

“Quality Assurance and Quality Control The drill core samples collected by McFarlane and described in this news release were placed in core boxes by the drill crew contracted by the Company. Core was then transported by McFarlane personnel to a secure processing facility. The core is then reviewed with core metreage blocks checked to verify core integrity, geologically logged, and samples marked. Core samples are cut in half, with one half remaining in the box and the other inserted into a clean plastic bag with a sample tag. Certified reference materials are inserted into the sample stream at a rate of no less than 10%. Samples are then transported in secure sealed bags with security tags for preparation and assay by MSA Labs in Timmins, Ontario, a certified lab with AC89, IAS accreditation and compliance with ISO/IEC standard 17025:2017. Samples reported are crushed at the lab in their entirety to 70% passing 2 mm, with one 300 to 500 g subsample split and placed into a jar for analysis by photon assay. Gold concentration results are then recorded with reference to each sample tag number. 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. The technical report is also available on the Company’s website www.mcfarlanelakemining.com . McFarlane is actively executing an exploration drilling program as detailed herein, and additional technical studies at the Juby Project to further evaluate and advance this large-scale gold system. 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 kilometres west of Sudbury and the Michaud/Munro properties located 115 kilometres east of Timmins. McFarlane 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 . Qualified Person The scientific and technical information disclosed in this news release was reviewed and approved by Bob Kusins, P.Geo, a consultant to the Company and Qualified Person under National Instrument 43-101. The technical information was also reviewed by Mark Trevisiol, P.Eng., an officer of McFarlane and a Qualified Person under National Instrument 43-101. 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 Bryan Baritot, Investor Relations McFarlane Lake Mining Limited investors@mcfarlanelakemining.com Cautionary Note Regarding Forward-Looking Information: This news release contains “forward-looking information” or “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “believes” or “intends”, or variations of such words and phrases, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of McFarlane to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk and Uncertainties” in the Company’s Management’s Discussion and Analysis dated as of April 23, 2026, which is available for view on SEDAR+ at www.sedarplus.com. Forward-looking statements contained herein are made as of the date of this press release, and McFarlane disclaims, other than as required by law, any obligation to update any forward-looking statements, whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Cautionary Statement on Mineral Resources This news release uses the terms indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimates disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to an indicated or measured mineral resource category; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/47be4ca3-f1d0-410e-9ad3-e419cf9bca1c https://www.globenewswire.com/NewsRoom/AttachmentNg/50b5e15b-e714-4117-99c6-3209f7acb4b4 https://www.globenewswire.com/NewsRoom/AttachmentNg/2cb68b3e-1e93-4fa6-abc9-c8537d216ff2 https://www.globenewswire.com/NewsRoom/AttachmentNg/81ba5b79-92ff-40c1-8146-d08bc4831c56 GlobeNewswire Recommended Reading August 18, 2026 07:00 ET | Source: McFarlane Lake Mining Incorporated McFarlane Increases Gold Mineral Resources on Its Juby Gold Project 59% Increase in Inferred Resources 13% Increase in Indicated Resources Highlights of Latest Mineral Resource Estimate 5.06 million inferred ounces gold at 0.87 grams per tonne gold and 1.14 million... Read More August 17, 2026 17:00 ET | Source: McFarlane Lake Mining Incorporated McFarlane Lake Announces Completion of Strategic Investment in iMetal Resources, Inc. TORONTO, Aug. 17, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to announce that, further to its press release on...”

Evidence · text

“The scientific and technical information disclosed in this news release was reviewed and approved by Bob Kusins, P.Geo, a consultant to the Company and Qualified Person under National Instrument 43-101. The technical information was also reviewed by Mark Trevisiol, P.Eng., an officer of McFarlane and a Qualified Person under National Instrument 43-101.”

Evidence · table

“True Width (m)”

Context: Width (m)

Evidence · text

“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.”

Evidence · text

“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 todays’ announcement, all assays for the upcoming MRE have been received. McFarlane now expects the MRE to be issued in the next 2 to 3 weeks.”