Mcfarlane Lake Mining Limited · CSE:MLM
Mcfarlane Lake Mining — Investor Presentation (January 2026)
38 slides from Mcfarlane Lake Mining's investor presentation, January 2026
Slide 1: Corporate Presentation January 2026
CORPORATE PRESENTATION J A N UA RY 2 0 2 6
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation of McFarlane Lake Mining Incorporated (the “Company” or “McFarlane Lake”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or s
Slide 3: Cautionary Statement on Mineral Resources
Cautionary Statement on Mineral Resources This news release uses the terms indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of reso
Slide 4: Latest MRE – September 29, 2025
Latest MRE – September 29,2025 US$2500/oz Au: 3.17 million inferred ounces gold at 0.89 gpt gold 1.01 million indicated ounces gold at 0.98 gpt gold (See Table 1 and note 1) Resource Sensitivities at US $3750/oz gold yield: Juby Timmins 4.22 million inferred ounces at 0.85 gpt gold 1.2 million indic
Slide 5: Investment Opportunity
Investment Opportunity GREATLY UNDERVALUED OPPORTUNITY Where we play FOR GOLD INVESTING Company Project Market Cap EV ($M) Resource (Moz Au) Market Cap/Oz ($M)* Juby Gold 42 54 4.18 10 (Ontario) Moss Gold 242 202 6.15 39 (Ontario) Fenn-Gib Gold 280 274 4.4 64 (Ontario) Chibougamau** 294 287 3.54 83
Slide 6: The Juby Project has all infrastructure to support a district scale mining camp
The Juby Project has all infrastructure to support a district scale mining camp IT CHECKS ALL THE BOXES ✓ INFRASTRUCTURE – POWER, ROADS ✓ POPULATION BASE 25,000 WITHIN 100 KM ✓ +90% METALLURGICAL RECOVERIES (impurity free) ✓ PRODUCTION OPTIONALITY ✓ HIGH GRADE OPEN PIT STARTER OPTION WITH DIRECT SHI
Slide 7: Located amongst Canada's Largest Gold Mines in Prolific Abitibi Greenstone Belt
Located amongst Canada’s Largest Gold Mines in Prolific Abitibi Greenstone Belt that has produced >200Moz Major Fault Zones ➢ 116,000 meters drill to date ➢ Drill core and drill logs in tack for review CSE: MLM OTCQB: MLMLF 7
Slide 8: Community & Environment
Community & Environment First Nations Early Exploration • Discussion on Exploration Agreements • Transparency on plans with regular updates Employment and training • Employing skilled First Nations talent for upcoming programs • Implementing best-in-class advanced training programs Environmental Ini
Slide 9: Detail Mineral Resource Estimate within pit shell + underground shapes
Table 1 – Detail Mineral Resource Estimate within pit shell + underground shapes (OP= Open Pit, UG= Underground, Mt= Millions tonnes, Moz= Millions Ounces, Au= Gold metal) Cut-Off Grade Contained Tonnage Constraints Grade (Au Metal (Mt) (Au g/t) g/t) (Moz) Indicated OP 0.25 30.78 0.94 0.93 Indicated
Slide 10: Gold Price Sensitivities
Table 2 – Gold Price Sensitivities (OP= Open Pit, UG= Underground, Mt= Millions tonnes, Moz= Millions Ounces, Au= Gold metal) Gold Revenue Cut-Off Tonnage Grade Contained Price Factor Classification Constraints Grade (tonnes) (Au g/t) Metal Oz ($USD) (RF) (Au g/t) Indicated OP/UG 0.25/1.90 27,317,00
Slide 11: Over 3 g/t Gold – High Grade Open Pit Potential
HIGH GRADE OPEN PIT POTENTIAL – EARLY ORE SHIPPING ( Over 1 million ounces of HIGH GRADE GOLD within open pit shells Resource Contained Resource Contained Cut-Off Au g/t Cut-Off Au g/t Classification Metal Au Oz Classification Metal Au Oz indicated 1.25 2.09 inferred 1.25 2.11 479,000 1,081,000 indi
Slide 12: MRE Growth Potential
+10Moz Potential Target 8Moz +10.0MAT oz Au 6Moz Sensitivity at $3750 / oz Au ~ 1 g/t Au 5Moz IND: 1.2 M Oz @ 0.94 g/t Au Based on Geological INF: 4.2 M Oz @ 0.85 g/t Au Modeling Review this MRE Growth 2Moz IND: 0.25 COG @ $2500 Au 1.01 M oz Au @ 0.98 g/t is what we are 3.17 M oz Au @ 0.89 g/t Poten
Slide 13: Prolific Abitibi Greenstone Belt >200 Moz Au
Prolific Abitibi Greenstone Belt >200 Moz Au JUBY PROPERTY Excellent access to infrastructure and experienced workforce CSE: MLM OTCQB: MLMLF 13
Slide 14: Shining Tree Geology
SHINING TREE GEOLOGY Ridout-Tyrrell JUBY PROPERTY Deformation Zone (RTDZ) Porcupine Assemblage 2690-2680 Ma Sediments and Felsic Intrusions CSE: MLM OTCQB: MLMLF 14
Slide 15: Four Gold Deposits
FOUR GOLD DEPOSITS HYRDO CREEK BIG DOME GOLDEN LAKE JUBY CSE: MLM OTCQB: MLMLF 15
Slide 16: RTDZ – What Does It Look Like?
RTDZ – WHAT DOES IT LOOK LIKE? Deformation - Shearing - Folding JUBY HYDRO CREEK CSE: MLM OTCQB: MLMLF 16
Slide 17: Exploration - Focused On Adding Gold Ounces
Exploration -Focused On Adding Gold Ounces Cheapest way to ADD ounces *UNSAMPLED DRILL CORE* potential to add 75,000 – 150,000 Ounces *$5.33-$10.66 per ounce Discovered* *Exploration team recognized ~10,000m of unsampled core from years 2000-2011* Phase 1 – Review and process 2000m of top priority u
Slide 18: More Gold - Parallel Structures
MORE GOLD - PARALLEL STRUCTURES A – 826 Zone 0.85 g/t Au over 36.30m B B – Byberg Mining Lease Grabs up to 7.54 g/t D Au C – Juby Mining C Lease Grabs up to 17.60 g/t Au PARALLEL STRUCTURES? A 2.5km D – What is under the glacial sand and gravel CSE: MLM OTCQB: MLMLF 18
Slide 19: Exploration - Focused On Adding Gold Ounces
Exploration-Focused On Adding Gold Ounces Potential to ADD 500,000-1,100,000 ounces *$2.50-$4.50 per ounce Discovered* Infill & Expand – Planned 23 holes for a total of 10,000-12,000 meters of drilling Long Section – Golden Lake and Juby Golden Lake – significant Juby West – potential to Juby East –
Slide 20: Drilling Here Significant Potential to add more ounces
In pit Mineralization + outside pit Mineralization Hydro Creek Big Dome LEGEND Pit Shell Pit Shell Isoshell (Au g/t) Golden Lake Isoshell (Au g/t) >2.00 >2.00 0.25 – 2.0 0.25 – 2.0 Juby Drilling Here Significant Potential to add more ounces CSE: MLM OTCQB: MLMLF 20
Slide 21: Exploration - Focused On Adding Gold Ounces
Exploration - Focused On Adding Gold Ounces On strike Juby east and Juby south parallel structure Exploration Drilling– 1,500-2,000 meters of drilling *Blue Sky Potential* Juby Deposit Looking north Claim Boundary 2800m Juby #1 - Juby East 2800m of strike length, under cover rocks *826* JU-13-137 14
Slide 22: Cross-Section
CROSS-SECTION 1.12 g/t Au over 1.20 g/t Au over 37.38m 47.70m 1.38 g/t Au over 42.41m 1.14 g/t Au over 1.23 g/t Au over 94.04m 75.13m CSE: MLM OTCQB: MLMLF 22
Slide 23: Top Drill Hole Intersections that make Juby Golden
Top 10 Drill Hole Intersections that make JUBY Golden (Data below is considered historical see note regarding historical estimate referenced herein**) GT Hole ID From (m) To (m) Length Au g/t (grade x Deposit thickness) G05-22 199.20 202.64 3.44 130.06 447.41 Big Dome High Grade Potential GL-18-44 1
Slide 24: Open at Depth
OPEN AT DEPTH Gold deposits in Abitibi Greenstone Belt can extend well below depth of 3,000m Deepest ore body 750m 8.7km Hydro Creek Big Dome Golden Lake Juby ~300 m 750m Open at depth & along strike 0.25 g/t Au cutoff 1 Km 24
Slide 25: Over 3 g/t Gold – High Grade Open Pit Potential
HIGH GRADE OPEN PIT POTENTIAL – EARLY ORE SHIPPING ( Over 1 million ounces of HIGH GRADE GOLD within open pit shells Resource Contained Resource Contained Cut-Off Au g/t Cut-Off Au g/t Classification Metal Au Oz Classification Metal Au Oz indicated 1.25 2.09 inferred 1.25 2.11 479,000 1,081,000 indi
Slide 26: More Gold - Conceptual HG Targets @ Juby Main
More Gold - Conceptual HG Targets @ Juby Main Drilling Here Significant Potential to add more ounces CSE: MLM OTCQB: MLMLF 26
Slide 27: More Gold - Conceptual HG Targets @ Golden Lake
More Gold - Conceptual HG Targets @ Golden Lake Drilling Here Significant Potential to add more ounces CSE: MLM OTCQB: MLMLF 27
Slide 28: Excellent metallurgy recoveries
Excellent metallurgy 93.4% 91% recoveries Au Re c ove r y C ya n i d e + GOLD RECOVERY GOLD RECOVERY G r av i t y w i t h provides process 25 microns Juby GOLDEN plant optionality Deposit LAKE Partical Head Au Au Recovery Zone Size P80 Grade Recovery CN + Gravity mircon Au Gravity OPPORTUNITY Pa s t
Slide 29: The Path to Developing Ontario's Next Gold Deposit
The Path to Developing Ontario's Next Gold Deposit 2025 Q3 Q4 2026 ✓ Acquisition + 43-101 Q1 Q2 2026 update (completed) ➢ Complete Phase 1 Infill & Q3 Q4 exploration 10-15k meter ➢ Commence Phase 2 Infill 2027 ✓ Drilling by Dec 2025 diamond drill program Q1 Q4 (permit application in) and expansion d
Slide 30: Capital Structure
Capital Structure Rob McEwen participated in Past Financings As of May 2025 Shares Outstanding 419,000,000 Warrants 102,000,000 Options 24,525,000 Fully Diluted 545,525,000 Market Capitalization $50-60 M (fully diluted) 30
Slide 31: Questions?
Investment Opportunity GREATLY UNDERVALUED OPPORTUNITY Where we play FOR GOLD INVESTING Company Project Market Cap EV ($M) Resource (Moz Au) Market Cap/Oz ($M)* Juby Gold 42 54 4.18 10 (Ontario) Moss Gold 242 202 6.15 39 (Ontario) QUESTIONS? Fenn-Gib Gold (Ontario) 280 274 4.4 64 Chibougamau** 294 2
Slide 32: Questions?
QUESTIONS? CSE: MLM OTCQB: MLMLF McFarlane Lake Mining Limited 32
Slide 33: Notes to MRE for Tables
NOTES TO MRE for Tables 1 and 2 (OP= Open Pit, UG= Underground, Mt= Millions tonnes, Moz= Millions Ounces, Au= Gold metal) Note 1: Mineral Resource Statement Notes 1. CIM definition standards were followed for the resource estimate. 2. This Mineral Resource has an effective date of September 29, 202
Slide 34: Proven Management Team
Proven Management Team LED BY A TEAM WITH EXPERIENCE Mark Trevisiol Brad Boland Winston Whymark Andrew McLellan, MSc President, CEO, Chair of Board CFO, Secretary Manager Exploration Senior Geologist Andrew is a geologist with 15 years Over 30 years of experience in mining and Over 25 years of exper
Slide 35: Experienced Board
Experienced Board Perry Dellelce Amanda Fullerton Deborah Battiston Director Director Director Mr. Dellelce is a founder and the managing Ms. Fullerton has been the Vice President, Ms. Battiston is a CPA and an ICD.D (“Institute of partner of Wildeboer Dellelce LLP, one of Legal & Corporate Secretar
Slide 36: Experienced Board
Experienced Board Fergus Kerr Dario Zulich Roger Emdin P.Eng Director Director Director Mr. Zulich is an accomplished entrepreneur and community 30+ years of senior management and Mr. Kerr is a Professional Mining Engineer and is leader who has made significant contributions to the sports operating
Slide 37: Project Chronology – Three Decades Later
PROJECT CHRONOLOGY – THREE DECADES LATER 116,000 METERS OF DRILLING Temagami Land 1998-2012 Caution 1973-1995 2021 2002-2013 Shining Tree area 2018 withdrawn from mineral exploration CSE: MLM OTCQB: MLMLF 37
Slide 38: Juby Gold Project Ontario Site Infrastructure Concept
Juby Gold Project Ontario Site Infrastructure Concept ( Data below is considered historical see note regarding historical estimate referenced herein**) What would it look like? CSE: MLM OTCQB: MLMLF 38
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