Mr. Roger Emdin reports

MCFARLANE LAKE MINING PROVIDES CORPORATE UPDATE

McFarlane Lake Mining Ltd.'s board of directors has approved: (i) the grant of 5.65 million stock options to certain directors, officers and consultants of the company; and (ii) the grant of 3.6 million restricted share units to certain consultants of the company, each in accordance with the rules of Cboe Canada and the applicable plan.

The options are exercisable into the equivalent amount of common shares of the company at a price of nine cents per share until Dec. 27, 2028.

The RSUs granted to the consultants will vest in accordance with the terms and conditions set forth in the applicable award agreements and once vested, each vested RSU will entitle the holder thereof to receive a common share in the capital of the company.

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 Lake 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.