McFarlane Lake Announces Filing of Amended and Restated LIFE Offering Document

Rhea-AI Summary

McFarlane Lake (OTCQB: MLMLF) filed an amended and restated offering document on SEDAR+ to reflect recent developments in its listed issuer financing exemption Offering.

Key updates include: closing of the first tranche of the Offering on Sept 29, 2025, a US$15 million bridge financing, completion of the Juby Project acquisition and interest in Knight Properties under the July 7, 2025 asset purchase agreement, and an initial Mineral Resource Estimate for Juby announced on Oct 7, 2025. All other Offering terms remain unchanged. The company expects to close the second tranche on or about Oct 9, 2025, subject to required regulatory approvals including CSE approval.

Positive

• Completed first Offering tranche on Sept 29, 2025
• Secured US$15 million bridge financing
• Completed acquisition of Juby Project and Knight Properties interest
• Announced initial Mineral Resource Estimate for Juby on Oct 7, 2025

Negative

• Second tranche closing is conditional on regulatory approvals
• Timing uncertainty for Offering completion pending CSE approval

Toronto, Ontario--(Newsfile Corp. - October 7, 2025) - McFarlane Lake Mining Limited (CSE: MLM) (OTCQB: MLMLF) ("McFarlane Lake" or the "Company"), a Canadian gold exploration and development company, announces that, further to its news release dated September 22, 2025 regarding its offering (the "Offering") under the listed issuer financing exemption pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935, the Company has filed an amended and restated offering document on SEDAR+ to reflect recent developments.

These developments include the completion on September 29, 2025 of the first tranche of the Offering, the closing of a US$15 million bridge financing, and the completion of the acquisition of the Juby Project and an interest in the Knight Properties from Aris Mining Holdings Corp. ("AMHC") pursuant to the asset purchase agreement dated July 7, 2025, among the Company, Aris Mining Corporation, and AMHC. In addition, on October 7, 2025, the Company announced an initial Mineral Resource Estimate for the Juby Project.

All other terms and conditions of the Offering remain unchanged. The Company expects to close the second tranche of the Offering on or about October 9, 2025, subject to the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange ("CSE"). For further information regarding the Offering, investors should refer to the Company's news release dated September 22, 2025 and the amended and restated offering document, each of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.

About McFarlane Lake Mining

McFarlane Lake is a gold exploration company focused on exploring and advancing the Juby Gold project near Gowganda, Ontario. The Juby Gold project has a NI 43-101 Inferred resource of 3.17 million ounces of gold at 0.89 grams per tonne ("gpt") and Indicated resources 1.01 million ounces of gold at 0.98 gpt. These resources have an effective date of September 29, 2025. The full technical report on these resources will be issued within 45 days of the Company's Mineral Resource Estimate announcement. The technical report will be issued by BBA E&C Inc., an independent organization from McFarlane Lake Mining. McFarlane is currently planning to perform exploration drilling on the Juby Gold Project as well as other study work to advance the development of the property.

McFarlane's other properties include the past producing McMillan Gold Mine property and Mongowin gold property located 70 km west of Sudbury, Ontario. The High Lake mineral property located immediately east of the Ontario-Manitoba border and the West Hawk Lake mineral property located immediately west of the Ontario-Manitoba border. In addition, McFarlane Lake owns the Michaud/Munro mineral properties 115 km east of Timmins. McFarlane Lake is a "reporting issuer" under applicable securities legislation in the provinces of Ontario, British Columbia and Alberta.

Additional information on McFarlane Lake can be found by reviewing its profile on SEDAR+ at www.sedarplus.com.

Advisors

Wildeboer Dellelce LLP is acting as legal counsel for McFarlane Lake.

Cautionary Note Regarding Forward-Looking Information:

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. Forward-looking statements in this news release include, but are not limited to, statements regarding the expected timing and completion of the second tranche of the Offering, the proposed use of proceeds therefrom, the anticipated receipt of any required regulatory approvals, and other statements that are not historical facts.

All statements in this news release, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, projections and assumptions made by management as of the date of this news release. Forward-looking statements are often, but not always, identified by the use of words such as "expects", "anticipates", "plans", "intends", "believes", "estimates", "projects", "potential", "possible", "target", "scheduled", or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of McFarlane Lake to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, those described under the heading "Risk Factors" in the Company's Annual Information Form dated November 27, 2024, and other disclosure documents filed by the Company with Canadian securities regulators, all of which are available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and McFarlane Lake disclaims any obligation to update or revise them to reflect new events or circumstances, except as required by applicable law.

Further Information
For further information regarding McFarlane Lake, please contact:

Mark Trevisiol,
Chief Executive Officer, President and Director
McFarlane Lake Mining Limited
(705) 665-5087
mtrevisiol@mcfarlanelakemining.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269591

FAQ

What did McFarlane Lake announce in the amended MLMLF offering document on Oct 8, 2025?

The company updated the offering to reflect the Sept 29, 2025 first tranche close, a US$15M bridge financing, the Juby acquisition, and an initial Juby resource estimate.

When does McFarlane Lake expect to close the second tranche of the MLMLF Offering?

The company expects to close the second tranche on or about Oct 9, 2025, subject to regulatory approvals including CSE approval.

How much bridge financing did McFarlane Lake secure for MLMLF?

McFarlane Lake closed a US$15 million bridge financing as disclosed in the amended offering document.

What acquisition did McFarlane Lake complete that affects MLMLF shareholders?

The company completed the acquisition of the Juby Project and an interest in the Knight Properties under the July 7, 2025 asset purchase agreement.

Did McFarlane Lake report a Mineral Resource Estimate for Juby in Oct 2025?

Yes; the company announced an initial Mineral Resource Estimate for the Juby Project on Oct 7, 2025.

Are any Offering terms changing after the amended MLMLF filing?

No; the filing states that all other terms and conditions of the Offering remain unchanged.