Mr. Roger Emdin reports

MCFARLANE LAKE MINING COMPLETES ARTIFICIAL INTELLIGENCE PROSPECTIVITY ANALYSIS ON ITS HIGH LAKE PROPERTY

McFarlane Lake Mining Ltd. has completed a surface and subsurface prospectivity analysis performed by Mercator Geological Services (Mercator) on McFarlane's 100-per-cent-owned High Lake property with the use of artificial intelligence (AI).

"The information this study provides will be valuable as we continue to work on expanding the resource at High Lake," said Roger Emdin, chief operating officer of McFarlane. "We are pleased to see that it validates our view of the high-quality resource available at the Purdex zone and has identified additional targets in areas where we have recently added new claims."

The prospectivity analysis used a combination of knowledge-driven and supervised machine learning algorithms to generate surface and subsurface exploration targets. These targets are generated using inputs such as geological structure, lithology, mineralization and geochemistry within the High Lake property. This is then related to the local geology, which is classed as a greenstone-hosted lode gold deposit. These generated target areas will help guide future exploration of the property. The supervised machine learning algorithm utilized in the prospectivity analysis was Random Forest.

The 3-D subsurface prospective analysis used all available geological data from historical and recent drilling, which were compiled and formatted using the geological software Leapfrog Geo. Tables were imported and processed by Mercator's proprietary machine learning algorithm.

Downhole prospectivity results were interpolated within Leapfrog to create 3-D contoured surfaces. These surfaces reflect the predicted prospectivity score. The supervised machine learning model predicted a probability score that reflects similarity to gold mineralization observed within McFarlane's gold resource area -- the Purdex zone. Probability scores were compared with gold assay results and correlated well.

The downhole supervised machine learning identified key geological features that are associated with the mineralization present within the Purdex zone, as well as areas with the most similar features to the Purdex zone. The High Lake prospects identified as the most similar to the Purdex zone are the R and W zones.

Targets generated from the surface prospectivity analysis are compared with the targets generated from the surface projection of the 3-D contoured downhole prospectivity analysis. The surface prospectivity analysis defines a number of target areas that align with the results of the downhole prospectivity model. It also identified new areas of interest in the north of the property.

The results produced by machine learning models are not absolute and should be interpreted with some degree of caution. However, the results do confirm previous results from historical prospecting, geophysics and diamond drilling and serve as computer-generated predictions that can help guide future exploration of the property.

McFarlane Lake is currently drilling a 10,000-metre drill program at the Purdex zone as a follow-up to the filing of a National Instrument 43-101 compliant mineral resource estimate in July, 2023, 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.

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. The prospectivity analysis was supervised by Ryan Kressall, PGeo, director of geoscience for Mercator Geological Services and a qualified person as defined by NI 43-101.

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 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.

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