
Drilling at Juby Gold Project Intersects 95.4 metres(m) at 1.36 g/t gold
Intersection includes 55.4 m of 1.96 g/t gold and 9.9 m of 3.22g/t goldDiscovery of additional Gold Mineralization expands 826 Zone at JubyAdditional Diamond Drill added at siteTORONTO, March 02, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited ("McFarlane" or the "Company") (CSE:MLM, OTC:MLMLF, FRA: W2Z)) is pleased to announce further results from its diamond drilling exploration campaign being conducted on its 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern part of the "Abitibi Greenstone Belt". Drilling was initiated in December 2025 on the property and commenced at the Company's 826 Zone and has now moved to the Golden Lake Zone, see Figure 1.HighlightsDrill hole GL 26-71 at Golden Lake has intersected 1.36 g/t gold over 95.4 metres, this includes 55.4 metres of 1.96 g/t gold and 9.9 metres of 3.22 g/t gold see Figure 2 and Tables 1 and 2.Drill hole GL 26-71 now expands the envelope of mineralization, which was outside the last mineral resource estimate (effective date September 29, 2025, see note below). Some assays on this hole are still pending. Another diamond drill hole, 100 metres to the southwest (GL 76-72), is currently being drilled to test an extension of this mineralization along strike. An additional 13 holes are planned at the Golden Lake Zone along strike in a southeast/northwest corridor.Drilling at 826 Zone has expanded the gold mineralization envelope, now stretching some 300 metres along strike. See Figures 3 and 4 and Tables 1 to 4."What we have intersected so early in the drill program is extremely encouraging", said Mark Trevisiol, CEO and Chairman of McFarlane, adding, "The intersection at Golden Lake significantly widens the mineralized envelope that defines the current mineral resource estimate. The additional discovery of gold at our 826 Zone introduces another mineralized area on the project, some 1.5 kilometres away from the existing mineral resource estimate. These discoveries further support how untested the Juby Gold Project remains with the potential to add significant gold mineralization with the aim of expanding gold resources."To help expedite drilling, McFarlane plans to add an additional diamond drill at site. The second drill is currently planned to commence drilling in the second week of March 2026. Drilling will focus on the Golden Lake deposit over the next 6 to 8 weeks, with subsequent drilling at the Juby deposit and potentially further drilling at the 826 Zone.In parallel, environmental baseline study work continues at site. Groundwater wells will be drilled at site around the Juby deposit in March. This work is a necessary part of gathering technical information for submittal to Ontario government ministries to support McFarlane's future application of extracting a bulk sample from the Juby deposit.Drilling being conducted at site is contracted through two separate firms each having a business partnership with 2 of the 3 first nation communities who have territorial rights on the property. There are three First Nation communities recognized as having territorial rights within the Juby Gold project, they include Matachewan First Nation, Temagami First Nation and Atikameksheng Anishnawbek First Nation.Figure 1 – Juby Gold Project - Plan View of Exploration Drilling program showing location of drill holes at Golden Lake, Juby and 826 Zones Figure 2 – Golden Lake Deposit Intersection - section looking NorthwestFigure 3- 826 Zone gold mineralized envelope – looking EastFigure 4 – 826 Zone – section looking NorthwestTable 1 – Golden Lake and 826 Zone interceptsAreaHole-IDFrom (m)To (m)Au gptWidth (m)True Width (m)Depth (m) GL26-71307.85353.000.7445.1536.0-260.1 Including315.55323.001.447.45 Golden Lake 371.00466.401.3695.4075.6-331.9 Including383.60439.001.9655.40 Including410.10420.003.229.90 489.35516.050.6826.7021.6-389.4 Including489.35494.202.014.95 JU8-26-14345.6583.000.6437.3532.8-54.4 Including47.0071.000.8124.00 Including47.0048.601.861.60 Including55.5071.000.9615.50 IncludingFull story available on Benzinga.com







