SUDBURY, ON / ACCESS Newswire / March 27, 2025 / McFarlane Lake Mining Limited (CBOE:MLM)(OTCQB:MLML) ("McFarlane Lake" or "the Company"), a Canadian gold exploration and development company, today announces that it has successfully identified new geophysical drill targets at its 100% owned McMillan Mine property located approximately 70 kilometers west of Sudbury, Ontario (see Figure 1).
Figure 1 - Location of McMillan Mine property
McFarlane recently completed a borehole electromagnetic (EM) geophysical survey on six drill holes from its recent drill program. The objective was to identify additional areas of potential gold mineralization. The survey was successful and identified targets at depth and to the west in an unexplored area at the McMillan Mine (Figure 2).
The companies previous bore hole EM survey, conducted in the Fall of 2024, had proven effective in identifying broad zones of mineralization, specifically in areas with multiple EM plates. For example, hole MLMM-25-04 was drilled to test two EM plates and returned 51.65 meters of 2.0 grams per tonne ("gpt") of gold including a higher-grade interval of 7.5 metres of 5.5 gpt gold. Similarly, hole MLMM-08-05W1 intersected the top of that EM plate and returned 31.3 m of 2.7 gpt gold including 10.7 gpt gold over 5 m.
The newly identified EM plates appear to be more extensive than those previously tested. Notably, one plate extends to a depth of 750 metres below surface while another extends 150 metres horizontally to the west. Currently the deepest known mineralization on the property is approximately 400 m from surface.
Based on the recent drill results and the new bore hole EM geophysical targets, McFarlane's technical team believes the EM plates could represent an extension of the gold mineralization plunging steeply to the northwest. In the coming days, the company plans to drill test the newly identified EM plates on the unexplored west side of the McMillan Mine.
Figure 2 - New EM targets and recent drill intersections
"To date our geophysical tools have been a significant enabler for finding gold mineralization," says Mark Trevisiol, CEO and Chairman of Mcfarlane Lake Mining. "The property has seen little to no exploration below 300 meters from surface. Couple that with the ability to use the latest geophysical technology and that only 200 m of a total strike length of 7km has been explored demonstrates significant potential we have," Mark added.
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the company, and a Qualified Person as defined under National Instrument 43-101.
About McFarlane Lake Mining Limited
McFarlane is a gold exploration company focused on the exploration and development of its portfolio of properties. The past producing McMillan and Mongowin gold properties, located 70 km west of Sudbury, Ontario, the past producing West Hawk Lake property located immediately west of the Ontario-Manitoba border, and the High Lake gold property (click on http//www.mcfarlanelakemining.com/properties/ for compliant high grade gold resource statement on High Lake) located east of the Ontario-Manitoba border and 8 km from the West Hawk Lake property. McFarlane also owns the Michaud/Munro mineral property situated 115 km east of Timmins along the so-called "Golden Highway". McFarlane is a "reporting issuer" under applicable securities legislation in the provinces of, British Columbia, Alberta and Ontario.
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. 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, including without limitation; anticipated results of geophysical surveys or drilling programs, estimated timing, geological interpretations and potential mineral recovery processes. 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 "Risk Factors" in the Filing Statement dated as of January 14, 2022, which is available for view on SEDAR at www.SEDAR.com 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.
