McFarlane Lake Mining Ltd. Initiates Major Update at Juby Gold Project

TORONTO, ON — August 6, 2025 — In a significant development for the mining sector, McFarlane Lake Mining Ltd. (“McFarlane” or the “Company”), a Canadian mining entity listed on the Canadian National Stock Exchange, has announced the commencement of a mineral resource estimate (MRE) update at its Juby Gold Project. This strategic move is aimed at significantly increasing the contained gold ounces, potentially boosting the company’s market position and investor interest.

The update follows McFarlane’s announcement on July 7, 2025, regarding its proposed acquisition of the Juby Gold Project. The company is optimistic about the project’s potential, leveraging a gold price range of $2400-$2800 per ounce USD. By lowering the cut-off grade (COG) to 0.2 grams per tonne and incorporating approximately 10,000 meters of new drilling data not previously included in the historical MRE, McFarlane anticipates a material increase in the project’s gold reserves.

BBA E&C Inc. (“BBA”) has been selected to oversee this crucial update, underscoring the company’s commitment to leveraging expert insights to maximize the project’s potential. This strategic initiative is expected to significantly enhance the number of ounces for the Juby Gold Project, marking a pivotal moment for McFarlane Lake Mining Ltd.

Despite these promising developments, it’s important to note the company’s current financial standing. As of August 4, 2025, McFarlane’s close price stood at 0.07 CAD, with a 52-week high of 0.08 CAD and a low of 0.02 CAD. The company’s market capitalization is valued at 13,470,000 CAD, with a price-to-earnings ratio of -6.328, reflecting the challenges and volatility often faced by mining companies.

This update is a testament to McFarlane’s proactive approach in navigating the complexities of the mining industry, aiming to unlock the full potential of the Juby Gold Project. As the company progresses with the MRE update, stakeholders and investors are keenly watching, hopeful for a positive impact on McFarlane’s financial health and future prospects.

For more information, McFarlane Lake Mining Ltd. can be reached through its official channels, and further updates will be provided as the project progresses. This development marks a significant step forward for McFarlane, potentially setting a new course for its future endeavors in the mining sector.