Star Metro - McFarlane Lake Mining Submits Exploration Permit Application and Initiates Environmental Baseline Study at Juby Gold Project

The upcoming exploration campaign will also include geophysical surveys, including Induced Polarization (IP) and Magnetic surveys, to refine and expand drill targets and better define near-surface and deeper mineralized trends.

In parallel with exploration permitting, McFarlane has initiated an environmental baseline study, a key step towards responsible development, advancing future production permitting timetables and further de-risking the Juby Gold Project. The study will set the foundation for McFarlane's first closure plan and pave the way toward an Advanced Exploration Permit, a critical step that would allow for bulk sampling and the potential shipment of initial high-grade ore from the Juby Gold Project for processing offsite.

"The submission of our exploration permit marks an important step forward for the Juby Gold Project," said Mark Trevisiol, CEO of McFarlane Lake Mining. "We are aligning our exploration plans with strong environmental stewardship and regulatory compliance as we advance development and de-risk this highly prospective gold asset."

The Juby Gold Project hosts a significant near-surface gold resource (Non-compliant NI 43-101 resource, see note below) with strong potential for expansion both along strike and at depth. The upcoming drill program is designed to expand known mineralization, test high-priority targets, and improve resource confidence across the deposit area.

The Company will provide further updates as they become available.

McFarlane is also expecting to release an updated Mineral Resource Estimate on the property in the coming days.

For further information visit www.mcfarlanelakemining.com, or contact:

Mark Trevisiol,
Chief Executive Officer, President and Director
McFarlane Lake Mining Limited
[email protected]

About McFarlane Lake Mining Limited

McFarlane Lake is a gold exploration company focused on exploring and advancing the Juby Gold project near Gowganda, Ontario. The Juby Gold project has a non-compliant (NI 43-101 compliant) inferred resource of 3.17 Million of gold @ 0.98 gpt of gold and Indicated resources 773,000 ounces of gold @ 1.13 gpt of gold. These resources are detailed in the "Technical Report on the Update Mineral Resource Estimate on the Juby Gold Project", co-authored by GeoVector Management and SGS Geological Services having an effective date of July 14, 2020. McFarlane is currently updating these historical resources to be fully compliant to NI 43-101 standards using current long term gold pricing.

McFarlane's other properties include and the past producing McMillan Gold Mine property and Mongowin gold property located 70 km west of Sudbury, Ontario. The exploration 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 Lake owns the Michaud/Munro mineral properties 115 km east of Timmins. McFarlane Lake is a "reporting issuer" under applicable securities legislation in the provinces of Ontario, British Columbia and Alberta.

Readers are cautioned to refer to the "Cautionary Note Regarding Historical Estimates," and all other disclaimers included in this news release for important information regarding the limitations and verification status of the data presented above and elsewhere herein.

Additional information on McFarlane Lake can be found by reviewing its profile on SEDAR+ at www.sedarplus.com

Historical Technical Data
Under NI 43-101 guidelines the technical data regarding resources and information which supports these provided in this announcement is considered to be historical. The data and information were taken from a report titled "Technical Report on the Update Mineral Resource Estimate on the Juby Gold Project", co-authored by GeoVector Management and SGS Geological Services having an effective date of July 14, 2020. Per the 2020 report, the Juby property had Inferred resources 1,488,000 ounces of gold @ 0.98 gpt indicated resources 773,000 ounces of gold @ 1.13 gpt.

Qualified Person

The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark P. Geo, consulting geologist to the company and Mark Trevisiol, P.Eng., an officer of the company. Both individuals are a "qualified person" as defined under NI 43-101. Where historical information has not been verified, the report is clearly indicated.

Cautionary Note Regarding Forward-Looking Information:

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including but not limited to the Proposed Acquisition, the terms and timing thereof, any related financing plans, the requirement for shareholder approval, and the anticipated method of obtaining such approval (if required), as well as the Company's intentions with respect to regulatory approvals, including acceptance by the CSE. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of McFarlane to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated as of November 27, 2024, which is available for view on SEDAR+ at www.sedarplus.com. These risks and uncertainties include, but are not limited to, risks related to the ability to obtain necessary regulatory approvals (including final acceptance of the Proposed Acquisition by the CSE), risks related to financing arrangements and market conditions, and risks generally associated with the execution of business transactions in the mining sector.

Forward-looking statements contained herein are made as of the date of this press release and McFarlane disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.

There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

SOURCE: McFarlane Lake Mining Limited

View the original press release on ACCESS Newswire

G.Boudreau--SMC