Mr. Roger Emdin reports

MCFARLANE ADDS STRATEGIC GOLD CLAIMS CONTIGUOUS TO ITS HIGH LAKE PROPERTY

McFarlane Lake Mining Ltd. has added four additional claims on its High Lake property (40 kilometres west of Kenora, Ont.), extending its property position in an area with known gold zones and their extensions in the northwest of the current property package.

The claims increase McFarlane's land position at High Lake from 584.82 to 626.0 hectares. These claims are strategically important as they fill in a gap on the western part of McFarlane's property, which hosts the extension of both the D and R zones, and provides access and expansion opportunities for the A, B and C zones.

Historical drilling (non-National Instrument 43-101 compliant) has outlined three zones straddling the boundary between the High Lake property and the newly added claims. Highlights from this drilling include 32.2 grams per tonne (g/t) gold (Au) over 3.7 metres (m) in hole E-1, 22.0 g/t Au over 7.3 m in hole E-13 and 168.8 g/t Au over 2.4 m in hole E-36, respectively from zones A, B and C. All of the above intercepts are considered historical. McFarlane's historical resource disclosure can be viewed on its website.

The addition of these new claims will allow for expansion of the known zones and potential new discoveries along projections of the mineralizing trend. Prior to adding these claims, exploration would have been limited in this highly prospective area. By having these additional claims, much deeper diamond drilling exploration can occur, increasing McFarlane's ability to explore at depth. Deeper drilling has proven to add significant gold resources elsewhere on the property at the Purdex zone.

McFarlane is currently conducting a 10,000-metre drill program at the Purdex zone as a follow-up to the filing of an NI 43-101-compliant technical report in July, 2023, which identified 96,200 inferred ounces and 45,800 indicated ounces of gold at a grade of 10.43 g/t Au and 9.38 g/t Au, respectively.

A technical report prepared in accordance with NI 43-101 with respect to the High Lake and West Hawk Lake properties is available under the company's profile on SEDAR+ and on the company's website.

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 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, which hosts the past-producing McMillan gold mine. McFarlane also owns the Michaud/Munro mineral property, situated 115 kilometres 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+.

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