McFarlane increases gold mineral resources at Juby Gold Project

59% Increase in Inferred Resources

13% Increase in Indicated Resources

Highlights of Latest Mineral Resource Estimate

5.06 million inferred ounces gold at 0.87 grams per tonne gold and 1.14 million indicated ounces gold at 0.95 grams per tonne gold using a long-term gold price of US$3,600/oz (see Table 1 and Note 1)

Resource Sensitivities at US$4,600/oz gold yield 5.40 million inferred ounces at 0.85 grams per tonne gold and 1.20 million indicated ounces at 0.93 grams per tonne gold

New Higher-Grade Gold resources defined at 826 Zone

Drilling continues; Environmental Baseline work continues

TORONTO, Aug. 18, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (CSE: MLM) (OTCQB: MLMLF) (“ McFarlane Lake ” or the “ Company ” or “ McFarlane” ), a Canadian gold exploration and development company, is pleased to announce an updated Mineral Resource Estimate (“ MRE ”) on its Juby Gold project (or “ Juby ”) located approximately 15 kilometres (“ km ”) west of Gowganda, Ontario, and approximately 90 km west of Temiskaming Shores, Ontario.

This MRE has been classified in accordance with CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2014) and follows the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019). It is based on the review of existing geological data (drilling, assays, drill logs, etc.) and mineralization modelling. The MRE was independently prepared by Todd McCracken, P. Geo., of BBA E&C Inc., with technical staff primarily from their Sudbury, Ontario office. The full Technical Report, which is being prepared in accordance with NI 43-101, will be available on SEDAR+ ( www.sedarplus.com ) under the Company's issuer profile within 45 days of this news release.

Table 1 – Detailed Mineral Resource Estimate within pit shell + underground shapes (OP = open pit, UG = underground, Mt = million tonnes, Moz = million ou