McFarlane Lake Intersects 6.2 Grams per Tonne (g/t) Gold Over 6.45 Metres (M) Within 14.9 m of 3.0 g/t Gold and Discovers New Mineralized Zones at Depth Containing Visible Gold - Assays Pending

Rhea-AI Summary

McFarlane Lake Mining has announced significant drilling results from its McMillan Mine property near Sudbury, Ontario. The key highlight is hole MLMM-25-07, which intersected 6.2 g/t gold over 6.45 metres within a broader zone of 14.9 metres grading 3.0 g/t gold, including a high-grade section of 57.2 g/t gold over 0.45 metres.

Recent drilling in hole MLMM-25-09 has discovered five new mineralized zones, with two containing visible gold. The company's exploration program has also revealed promising polymetallic potential, with anomalous copper (0.36%), cobalt (0.11%), and nickel (0.07%) assays.

The company is utilizing Electro Magnetic (EM) geophysics to guide exploration, identifying a new EM plate beneath old mine workings at depths between 550-700 metres from surface. This discovery suggests potential for major expansion of mineralization at the McMillan Mine, which remains open along strike and at depth on the western side.

Positive

• High-grade gold intersection of 6.2 g/t over 6.45m, including 57.2 g/t over 0.45m
• Discovery of five new mineralized zones with visible gold in MLMM-25-09
• Additional polymetallic potential with copper, cobalt, and nickel mineralization
• New EM plate identified suggesting potential resource expansion at depth

Negative

• True widths of mineralization are not yet known
• Drilling stopped while still in mineralization due to other priorities

News Market Reaction

+5.28%

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+5.28% News Effect

On the day this news was published, MLMLF gained 5.28%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, ON / ACCESS Newswire / April 22, 2025 / McFarlane Lake Mining Limited (CBOE:MLM)(OTCQB:MLML), "McFarlane Lake" or "the Company", a Canadian gold exploration and development company, today announces results of recent exploration drilling conducted at its 100% owned McMillan Mine property located approximately 70 kilometers west of Sudbury, Ontario (see Figure 1 for site location).

Exploration Highlights

• Hole MLMM-25-07 intersects 6.2 g/t gold over 6.45 m within a wider zone assaying 3.0 g/t gold over 14.9 m which included 57.2 g/t gold over 0.45 m

• Recent drilling (Hole MLMM-25-09) intersects five zones of mineralization including occurrences of visible gold confirming western plunge of mineralization below the McMillan Mine.

Figure 1 - Location of McMillan Mine property.

Recent drill hole MLMM-25-07 intersected four zones of mineralization with the most prominent being 14.9 m of 3.0 g/t gold including 6.45 m of 6.2 g/t gold (See Figure 2 and Table 1 and 2). The hole was drilled from the northeast to the southwest testing the newly identified trend of the mineralization down plunge. The hole intersected a heavily mineralized area with assays as high as 57.2 g/t gold over 0.45 m.

Table 1 - Drilling Assay Highlights

Hole ID	From (m)	To (m)	Interval (1) (m)	Gold Grade (g/t)
MLMM-25-06	442.35	442.60	0.25	6.3
And	455.45	458.25	2.80	1.5
Including	455.45	456.20	0.75	3.1
And	467.45	467.80	0.35	3.6
MLMM-25-07 - Zone 1	284.40	293.95	9.55	1.0
Including	284.40	291.90	7.50	1.3
Including	284.40	288.90	4.50	1.6
That also includes	291.60	291.90	0.30	7.2
And	311.15	311.40	0.25	1.8
MLMM-25-07 - Zone 2	329.00	343.90	14.90	3.0
Including	330.00	339.00	9.00	4.7
Including	330.00	336.45	6.45	6.2
That includes	336.00	336.45	0.45	57.2
MLMM-25-07 - Zone 3	355.90	363.45	7.55	1.8
Including	357.25	363.45	6.20	2.2
Including	359.25	362.45	3.20	4.0
Including	359.25	361.00	1.75	6.1
That includes	360.00	360.35	0.35	15.3
MLMM-25-07 - Zone 4	379.45	386.00	6.55	0.6
Including	381.80	386.00	4.20	0.9
That includes	382.60	385.15	2.55	1.3
MLMM-25-08	355.00	378.90	23.90	0.2
Including	364.65	374.90	10.25	0.3
Including	364.65	366.65	2.00	1.3
That includes	366.15	366.65	0.50	4.6
And	393.35	394.00	0.65	1.2
And	407.00	409.05	2.05	0.6
Including	408.55	409.05	0.50	2.3

⁽¹⁾ Thicknesses are core lengths; true widths are not known.

Figure 2 - McMillan Mine Long Section looking North.

Recently completed hole MLMM-25-09 targeting the newly identified Electro Magnetic (EM) anomalies or "EM plates" (see announcement March 27/2025), intersected five zones of mineralization including two zones with occurrences of visible gold. The drill hole was targeting three of the EM plates which cluster on the western side of the McMillan Mine (Figure 3). Drilling was originally planned to a length of approximately 480 m (440 m Vertically), however, drilling continued to return favourable sulphide stockwork, similar to intersections of gold mineralization discovered earlier this year (see announcements February 3/2025 and February 10/2025). The five zones of mineralization intersected in hole MLMM-25-09 with assays pending are listed below:

• 345 m to 350 m - 5 m

• 357 m to 364 m - 7 m

• 392 m to 394 m - 2 m

• 418 m to 464 m - 46 m (2 occurrences of visible gold at 457 m)

• 530 m to 570 m - 40 m (9 occurrences of visible gold specs 532.6 m, see Figure 4)

With other priority targets planned in the current drilling campaign, hole MLMM-25-09 was stopped at a final length of 570 m. At the time of stopping the hole, sulphide stockwork was still appearing at the bottom of the hole and presents an opportunity for additional exploration. McFarlane plans to complete a borehole "EM" survey on this hole to identify additional targets around this newly identified mineralized EM conductive zone.

Figure 3 - McMillan Mine Model Looking North-East.

Borehole EM continues to be a significant exploration tool for McFarlane to locate areas of sulphide and gold mineralization. The association of gold with sulphide minerals of "pyrrhotite, chalcopyrite and pyrite" enable the EM geophysical tool to detect these sulphides and highlight zones of potential gold mineralization. A new EM Plate has recently been identified underneath the old mine workings at a depth of approximately 550 m from surface extending to 700 m from surface (see Figure 3).

Figure 4 - Visible Gold at 532.60m - in hole MLMM-25-09

McFarlane's expanded assay program has also revealed anomalous assays of copper, cobalt and nickel highlighting the exciting polymetallic upside of the project beyond gold. Highlights from these assays include:

• 0.36% Cu over 0.5 m in hole MLMM-24-04

• 0.11% Co over 0.55 m in hole MLMM-08-05W1

• 0.07% Ni over 0.4 m in hole MLMM-25-03

"Our recent assays and newest intersection are very encouraging and seem to have confirmed the western plunge of mineralization at the McMillan Mine where the geophysics has indicated" said Mark Trevisiol CEO and Chairman of McFarlane Lake Mining. He added "The EM geophysics continues to provide excellent guidance to locate areas of gold mineralization. The western side of the mine is open along strike and at depth with a sizeable anomaly extending at depth setting the stage for a major expansion of the gold and potentially polymetallic mineralization at the McMillan Mine."

Mr. Trevisiol will share his views on this announcement and other developments in the gold industry Tuesday April 22, 2025 2:30 pm on Trader TV, available through https://tradertv.live/

Table 2. Details of drill holes reported in this press release.

Drill Hole	Azimuth (Degrees)	Dip (Degrees)	Length (metres)	Easting (UTM)	Northing (UTM)
MLMM-25-05	220	-45	156	438700	5110010
MLMM-25-06	140	-56	501	438520	5110180
MLMM-25-07	240	-60	428	438802	5110069
MLMM-25-08	223	-62.3	468	438787	5110119

For Further Information, Please Contact:
Mark Trevisiol, Chief Executive Officer
McFarlane Lake Mining Limited
info@mcfarlanelakemining.com

Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the company, and a Qualified Person as defined under National Instrument 43-101.

Technical Information
The drill core samples collected by McFarlane Lake Mining 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 no less than 10%. Samples are then transported in secure sealed bags with security tags for preparation and assay by MSA Labs in Timmins a certified lab with AC89, IAS accreditation and compliance with ISO/IEC standard 17025:2017. Samples reported were crushed 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. Samples with visible gold were assayed to completion by splitting the sample into multiple 300 to 500g jars until no material remains with analysis by photon assay.

About McFarlane Lake Mining Limited
McFarlane is a gold exploration company focused on the exploration and development of its portfolio of properties. The past producing McMillan and Mongowin gold properties, located 70 km west of Sudbury, Ontario, the past producing West Hawk Lake property located immediately west of the Ontario-Manitoba border, and the High Lake gold property (click on http//www.mcfarlanelakemining.com/properties/ for compliant high grade gold resource statement on High Lake) located east of the Ontario-Manitoba border and 8 km from the West Hawk Lake property. McFarlane also owns the Michaud/Munro mineral property situated 115 km east of Timmins along the so-called "Golden Highway". McFarlane is a "reporting issuer" under applicable securities legislation in the provinces of, British Columbia, Alberta and Ontario.

Additional information on McFarlane can be found by reviewing its profile on SEDAR at www.sedar.com or at on its website at www.mcfarlanelakemining.com.

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 the applicable 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, including without limitation; anticipated results of geophysical surveys or drilling programs, estimated timing, geological interpretations and potential mineral recovery processes. 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", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to 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 Factors" in the Filing Statement dated as of January 14, 2022, which is available for view on SEDAR at www.SEDAR.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.

SOURCE: McFarlane Lake Mining Limited

View the original press release on ACCESS Newswire

FAQ

What are the latest gold drilling results from McFarlane Lake Mining (MLMLF)?

The latest drilling revealed 6.2 g/t gold over 6.45 metres within a broader zone of 14.9 metres grading 3.0 g/t gold, including 57.2 g/t gold over 0.45 metres in hole MLMM-25-07.

How many new mineralized zones did McFarlane Lake Mining (MLMLF) discover in hole MLMM-25-09?

MLMM-25-09 intersected five new mineralized zones, with two zones containing visible gold occurrences.

What polymetallic potential has been identified at McFarlane Lake's McMillan Mine?

The assays revealed anomalous values of copper (0.36%), cobalt (0.11%), and nickel (0.07%), indicating significant polymetallic potential beyond gold.

What is the depth of the new EM plate discovered at McFarlane Lake's McMillan Mine?

A new EM plate was identified underneath the old mine workings at approximately 550 meters from surface, extending to 700 meters from surface.