McFarlane Samples 87.4 Grams Per Tonne(Gpt) Gold Containing 0.59% Copper at

McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (NEO:MLM)(OTCQB:MLMLF), is excited to announce results of recent field sampling and highlight its upcoming exploration plans at its 100% owned McMillan Gold Mine located 70 kilometers west of Sudbury, Ontario.

Highlights

• Recent field sample of 87.4 gpt gold and 0.59% copper demonstrating strong potential for high grade gold and polymetallic mineralization at past producing McMillan Gold Mine
• Fully funded 3,000 metre winter drill program commencing in Q4 2024
• Drilling to confirm and expand on numerous historic high grade gold intercepts including an intercept of 27.9 metres of 6.4 gpt gold containing 8.1 metres of 15.7 gpt gold

The McMillan Gold Mine was a past producer of gold and is located within 3 km from major highways and power lines. Located geologically in the Huronian Gold Belt 70 km west of Sudbury (Figure 1), this area of the province has been consistently identified as a top gold and polymetallic exploration opportunity as highlighted in the Ontario Geological Survey’s “Recommendation for Exploration 2010 to 2011” and “Recommendation for Exploration 2017 to 2018”.

FIGURE 1 – Property Location – McMillan Gold Mine

Drilling Program

The company has applied for an exploration permit to conduct an initial 3,000 metre drill program, with plans to commence drilling in Q4 2024. The program is fully funded and designed to test and expand on historic high-grade gold intercepts at the McMillan Gold Mine (Figure 2) and to better understand the geology of the deposit.

A recent sample taken at the site, from what is interpreted to have been historic ore from the McMillan Gold Mine, returned 87.4 gpt gold, 0.59% copper and anomalous cobalt and nickel (Figure 3). This has demonstrated the potential for high-grade gold within the setting of a polymetallic mineralized system. Thus far, McFarlane has not seen any historic assays for copper and other base metals in historic data from the mine. This presents an opportunity to add significant value to the property. The company is also testing for platinum and palladium values, these have yet to be received.

FIGURE 2 – McMillan Mine Longitudinal Section – Historic Gold Intercepts and Mine Workings

FIGURE 3 – Recent High-Grade Gold and Copper Samples from McMillan Mine Site

The property has not been drilled since the early 2000’s where exploration intersected 27.9 metres of 6.4 gpt gold including 8.1 metres of 15.7 gpt below the historic mine. In addition to testing historic intercepts, the company also plans to test the system along strike and at depth to materially expand the mineralization for a future resource estimate. Historic drill core is not available for analysis, hence upcoming diamond drilling will help understand the sub surface geology and allow for polymetallic analysis of drill core samples (ie gold, copper, cobalt and nickel).

Advancing Regional Surface Targets

The company has recently completed its regional geological data compilation on the…