Mr. Mark Trevisiol reports

MCFARLANE INITIATES ENVIRONMENTAL BASELINE STUDY WORK FOR JUBY

McFarlane Lake Mining Ltd. has engaged Pinchin Ltd., a leading environmental consulting firm, to complete a comprehensive suite of baseline environmental studies at the Juby gold project.

Mark Trevisiol, chief executive officer and president of McFarlane, commented: "Launching these vital environmental studies is an important step forward for the Juby gold project. Pinchin's work will give us a detailed understanding of current site conditions and provide the data we need to advance engineering, permitting for ore extraction and long-term development planning. Establishing a strong environmental baseline now helps ensure we move the project forward responsibly while continuing to demonstrate the quality and potential scale of this asset. We will work transparently with first nations and all community members to achieve this."

Pinchin's engagement will cover crucial baseline environmental studies designed to support future permitting and development planning for the Juby gold project. Field programs will document existing vegetation communities, wetlands, aquatic habitats, hydrogeology and hydrology, and wildlife use across the project area. This information will help McFarlane Lake identify potential environmental impacts early, design responsibly, and ensure the project advances in alignment with regulatory expectations and best practices for modern mine development.

The scope of work includes a hydrogeological and hydrological baseline study to characterize groundwater flow systems, aquifer conditions and surface water-groundwater interactions as required under the Mine Rehabilitation Code of Ontario. Pinchin will also complete geochemical testing to evaluate the potential for acid rock drainage and metal leaching from mine rock, tailings and overburden materials. In addition, a terrestrial baseline program will assess vegetation communities, wildlife habitat and potential species at risk occurrences while an aquatic baseline program will document surface water, wetland and riparian conditions within and downstream of the project footprint. Together, these studies will form the essential environmental foundation required for responsible advancement of the Juby project.

About McFarlane Lake Mining Ltd.

McFarlane Lake is a Canadian gold exploration company focused on advancing its flagship Juby gold project, located near Gowganda, Ont., within the established Abitibi greenstone belt. The Juby project hosts a current (effective Sept. 29, 2025) National Instrument 43-101-compliant mineral resource estimate of 1.01 million ounces of gold in the indicated category at an average grade of 0.98 gram per tonne gold (31.74 million tonnes) and an additional 3.17 million ounces of gold in the inferred category at an average grade of 0.89 g/t gold (109.48 million tonnes). The estimate was calculated using a long-term gold price of $2,500 (U.S.) per ounce, applying cut-off grades of 0.25 g/t gold for open pit and 1.85 g/t gold for underground resources.

A sensitivity analysis completed at a higher gold price of $3,750 (U.S.) per ounce resulted in an indicated mineral resource of 1.20 million ounces grading 0.94 g/t gold (39.51 million tonnes) and an inferred mineral resource of 4.23 million ounces grading 0.85 g/t gold (154.50 million tonnes) applying cut-off grades of 0.25 g/t gold for open pit and 1.15 g/t gold for underground resources.

The independent MRE was prepared by BBA E&C Inc. in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects). The full technical report supporting the resource estimate was filed on SEDAR+ on Nov. 21, 2025, and is available on the company's website.

McFarlane is actively planning an exploration drilling program and additional technical studies at the Juby gold project to further evaluate and advance this large-scale gold system.

In addition to the Juby gold project, McFarlane holds a portfolio of 100-per-cent-owned gold assets in Ontario, including the past-producing McMillan gold mine and Mongowin properties located approximately 70 kilometres west of Sudbury and the Michaud/Munro properties located 115 km east of Timmins. McFarlane is a reporting issuer in Ontario, British Columbia and Alberta.

Qualified person

The scientific and technical information disclosed in this news release was reviewed and approved by Mark Trevisiol, PEng, an officer of McFarlane, a qualified person under National Instrument 43-101.

Adviser

Wildeboer Dellelce LLP is acting as legal counsel for McFarlane.

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