TORONTO, June 22, 2026 (GLOBE NEWSWIRE) — McFarlane Lake Mining Limited (CSE: MLM, OTC: MLMLF, FRA: W2Z) has released further results from its diamond drilling exploration campaign at the 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern Abitibi Greenstone Belt. Drilling began in December 2025 at the 826 Zone and has now moved to the Golden Lake Zone.
Golden Lake Deposit Expansion
The Golden Lake Deposit continues to demonstrate scale and continuity of gold mineralization, with drilling extending the mineralized envelope south of and below the current resource pit shell. Recent intercepts confirm a broader and more continuous gold-bearing system than previously defined.
Notable wide intercepts include Hole GL26-84, which intersected 155 metres of 0.59 g/t gold, including 75.8 metres of 0.70 g/t gold, with sub-intervals of 3.0 metres at 1.91 g/t gold and 3.5 metres at 1.80 g/t gold. Hole GL26-85 returned 92.7 metres of 0.64 g/t gold, including 4.8 metres of 3.37 g/t gold and 9.0 metres of 1.58 g/t gold.
Continuity Confirmed Between Holes
Hole GL26-77B, drilled between previously reported holes GL26-76 and GL26-78, returned 47.0 metres of 0.70 g/t gold, including 13.1 metres of 1.92 g/t gold, strengthening confidence in the continuity of mineralization.
Additional holes at Golden Lake have been completed and are awaiting assays, while follow-up drilling has resumed at the 826 Zone after encouraging initial results.
CEO Commentary
Mark Trevisiol, McFarlane’s CEO and Chairman, commented, “The continued extension of the mineralization envelope to the west is very encouraging. These broad zones of mineralization are important for improving the economics of mining, resulting in lower waste-to-ore handling, which will be favourable in our future preliminary economic assessment planned later this year. In addition, the strong initial results at the 826 Zone have compelled the Company to undertake additional drilling there as we look to build on gold mineralization identified and announced earlier.”
Community Engagement
McFarlane has recently made presentations to all three First Nation communities having territorial rights in the area: Matachewan First Nation, Temagami First Nation, and Atikameksheng Anishnawbek First Nation. Presentations focused on the environmental baseline study work being conducted, as well as the Company’s plans for extraction of a 50,000-tonne bulk sample in 2027. Drilling at site is contracted through two separate firms, each having a business partnership with two of the three First Nation communities.
