McFarlane intersects 179 metres (m) of 0.87 grams/tonne (g/t) Gold and 155 m of 0.9 g/t Gold

Overall Strike length now extends to 1.9 kilometers (km) New mineralized lense discovered in “Hanging Wall” widens gold mineralization in Golden Lake Deposit at Juby Gold Project More mineralization intersected at 826 Zone TORONTO, July 23, 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 on the property in December 2025, commencing at the 826 Zone, and is now at the Golden Lake Zone (see Figure 1). Highlights Golden Lake Deposit continues to show excellent potential to add significant gold mineralization.

From recent exploration drilling the strike length of gold mineralization has now extended to 1.9 kilometers in length from a previously announced 0.75 km (See Figure 2). Further holes GL26-83 and GL26-83A demonstrate a widening of the mineralization from the existing open pit shell (see Figure 3), this not only increases revenue potential but also favourably affects the economics of extraction. Most Western drilled hole extends strike to 1.9 km : Assays from hole GL26-87 (93 m of 0.89 g/t gold) have confirmed a significant intersection on the most western hole drilled in the program on the Golden Lake deposit.

This intersection not only extends the strike length to 1.9 km but demonstrates the deposit remains open to the west and at depth in this area. New Mineralized Lense widens open pit outline in “Hanging Wall” : Commencing at 34 m from surfaces Hole GL- 83A intersected 179.10 m of 0.87 g/t gold which includes 15.55m of 1.58 g/t gold and 6.9 m of 2.33 g/t gold . Commencing