Mr. Mark Trevisiol reports

ARTIFICIAL INTELLIGENCE REVIEW PLANNED FOR MCFARLANE'S GOLD RESOURCE PROPERTY AT HIGH LAKE

McFarlane Lake Mining Ltd. has commissioned a full geological compilation of all available historical and current information on its High Lake property to generate a digital data set to help generate and prioritize exploration targets through the use of artificial intelligence.

The data compilation work is being carried out by Orix Geoscience and includes the High Lake property and the surrounding area. The scope will involve an analysis of historical drill logs, geological maps, geophysical survey data, surface geochemistry samples and data from the company's recent drilling campaigns. The company is also reviewing proposals to deploy artificial intelligence to analyze the resulting comprehensive data set to focus and prioritize future drilling targets.

"At High Lake's Purdex zone, we have identified a high-grade gold resource with significant potential for expansion. By compiling the historical exploration results with our recent drilling and geophysical results into one comprehensive data set, we will be able to optimize our future exploration efforts," said Roger Emdin, chief operating officer of McFarlane Lake. "With recent breakthroughs of applying AI to mineral exploration, we expect that we will be able to further advance this attractive property by identifying additional mineralization targets."

In July, 2023, McFarlane Lake filed a National Instrument 43-101-compliant technical report that identified 96,200 inferred ounces and 45,800 indicated ounces of gold at a grade of 10.43 grams per tonne of gold and 9.38 grams per tonne of gold, respectively, in the Purdex zone on the High Lake property.

Qualified person

The technical contents of this news release have been reviewed and approved by Robert Kusins, vice-president of geology of McFarlane. Mr. Kusins is a qualified person, as defined by NI 43-101. However, Mr. Kusins is not independent of the company by virtue of his position.

About McFarlane Lake Mining Ltd.

McFarlane Lake is a mineral exploration company focused on the exploration and development of 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 holds the McMillan and Mongowin mineral property located 70 kilometres west of Sudbury and owns the Michaud/Munro mineral property 115 km east of Timmins. McFarlane is a reporting issuer under applicable securities legislation in the provinces of Ontario, British Columbia and Alberta.

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