MCFARLANE LAKE MINING LIMITED Stock Price, News & Analysis

McFarlane Lake Mining (MLMLF) reports significant gold discoveries at its McMillan Mine property near Sudbury, Ontario. Drill hole MLMM-25-09 intersected three mineralization zones with notable results: Zone 1 yielded 8.5 GPT gold over 4.10m (including 13.3 GPT over 2.60m), Zone 2 showed 3.7 GPT gold over 7.25m (including 32.9 GPT over 0.7m), and Zone 3 returned 2.2 GPT gold over 16.05m (including 5.1 GPT over 4.25m). The discovery extends gold mineralization 80 meters west and reaches a new depth of 530 meters. Two additional holes, MLMM-25-10 and MLMM-25-11, with pending assays, have intersected visible gold. The company also announced management changes, with COO Roger Emdin retiring but remaining as board member and consultant, while Winston Whymark joins as Manager of Exploration.

McFarlane Lake Mining Limited (CSE:MLM)(OTCQB:MLMLF) announced the transition of its stock listing from Cboe Canada to the Canadian Securities Exchange (CSE). The company's common shares will commence trading on the CSE under the symbol "MLM" starting May 8, 2025, following their delisting from Cboe Canada at market close on May 7, 2025.

McFarlane Lake Mining Limited (OTCQB:MLMF) has announced its upcoming listing on the Canadian Securities Exchange (CSE) effective May 8, 2025, under the symbol "MLM". The company will simultaneously delist from Cboe Canada at market close on May 7, 2025. CEO Mark Trevisiol highlighted that joining the CSE, which hosts over 350 mining and exploration companies, aligns with McFarlane's growth strategy and aims to increase investor visibility for their gold properties development initiatives.

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.

McFarlane Lake Mining (MLMLF) has successfully closed the final tranche of its upsized private placement offering, raising a total of $1.3 million. The final tranche consisted of 2,800,000 units at $0.05 per unit and 700,000 flow-through shares at $0.07 per share, generating approximately $189,000.

The company issued a total of 25,120,000 units and 700,000 flow-through shares through the offering. Each unit includes one common share and half a warrant, with warrants exercisable at $0.07 per share until October 10, 2025.

The proceeds will primarily fund exploration activities at the company's Canadian properties, focusing on the McMillan Property, while supporting ongoing exploration at West Hawk Lake and High Lake Properties. The company is currently conducting drill testing of geophysical anomalies at the McMillan Mine site, with additional drilling results expected in the coming weeks.

McFarlane Lake Mining (CBOE:MLM)(OTCQB:MLML) has identified new geophysical drill targets at its wholly-owned McMillan Mine property near Sudbury, Ontario. The company completed a borehole electromagnetic (EM) survey on six drill holes, revealing promising targets at depth and in unexplored western areas.

Previous EM surveys from Fall 2024 proved effective, with notable results including:

• Hole MLMM-25-04: 51.65 meters of 2.0 gpt gold, including 7.5 metres of 5.5 gpt gold
• Hole MLMM-08-05W1: 31.3 m of 2.7 gpt gold, including 5 m of 10.7 gpt gold

The newly identified EM plates are more extensive, with one reaching 750 metres below surface, significantly deeper than the current known mineralization of 400m. Another plate extends 150 metres horizontally westward. The company plans to drill test these new targets, focusing on potential gold mineralization extensions plunging northwest.

McFarlane Lake Mining (OTCQB:MLMLF) has closed the first tranche of its upsized $1.3 million private placement offering on March 20, 2025. The first tranche raised approximately $1,116,000 through the issuance of 22,320,000 Units at $0.05 per Unit.

Each Unit includes one common share and one-half warrant, with each whole warrant exercisable at C$0.07 per Common Share until September 20, 2026. The company paid $65,900 to eligible finders for introducing purchasers.

Company insiders participated in the first tranche, subscribing for approximately $75,000 worth of Units. The net proceeds will primarily fund exploration activities on the company's Canadian properties, focusing on the McMillan Property, while supporting ongoing exploration at the West Hawk Lake and High Lake Properties. The second tranche is expected to close around the week of March 24, 2025.

McFarlane Lake Mining has increased its private placement offering from $1 million to $1.3 million due to strong investor demand. The offering includes:

• Up to 26 million units at $0.05 per unit, each consisting of one common share and half a warrant
• Up to 18.57 million flow-through shares at $0.07 per share

Each warrant allows purchase of one common share at $0.07 for 18 months from the closing date, expected around March 20, 2025. The offering has a minimum subscription amount of $635,000 and may close in multiple tranches. Proceeds will fund exploration activities, primarily at the McMillan Property, while supporting exploration at West Hawk Lake and High Lake properties. Flow-through shares' proceeds will be used for eligible Canadian exploration expenses, qualifying as flow-through mining expenditures.

McFarlane Lake Mining held its annual general and special meeting on March 3, 2025. Key matters voted upon included:

• Election of Directors: All seven nominees were elected to hold office until the next annual meeting.
• Appointment of Auditors: McGovern Hurley LLP was appointed as auditors until the next annual meeting, with the board authorized to fix their remuneration.
• Stock Option Plan Resolution: Amendments to the stock option plan were approved as per Cboe Canada rules.
• Reapproval of Security-Based Compensation Arrangements: The reapproval of the security-based compensation arrangements, including all unallocated awards and entitlements, was approved.

Details are available in the management information circular dated January 22, 2025, on SEDAR+.