Mcfarlane Lake Mining Limited · CSE:MLM
Mcfarlane Lake Mining — Investor Presentation (March 2024)
45 slides from Mcfarlane Lake Mining's investor presentation, March 2024
Slide 1: McFarlane Lake Mining March 2024
MCFARLANE LAKE MINING MARCH 2024
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: Property Locations
PROPERTY LOCATIONS HIGH LAKE, ONTARIO (30km to Kenora) Ni 43-101 compliant resource – 96,400 oz inferred resource at a gold grade of 10.43 g/t and an indicated resource of 45,800 at a grade of 9.38 g/t WEST HAWK LAKE, MANITOBA Historical resource of 457k tonnes @ 13.9 g/t Au, 204k Oz WEST HAWK LAKE
Slide 4: Why Is This Gold Story Different Than Our Peers
• One of the highest-grade gold mineral resources in WHY IS Canada • 96,400 oz of inferred at 10.43 g/t and 45,800 THIS GOLD indicated resources at 9.38 g/t STORY • “Our first drill campaign” → Who gets these results so early? DIFFERENT • High Potential to expand existing resources THAN OUR • 6,500-
Slide 5: High Lake & West Hawk Lake
PROPERTIES: HIGH LAKE & WEST HAWK LAKE HIGH LAKE WEST HAWK LAKE OPTIONED FROM CANADIAN STAR MINERALS LIMITED West Hawk Manitoba Lake Ontario West Hawk The properties are along the Trans-Canada Lake Property Highway straddling the Manitoba / Ontario Hwy 1 Hwy border, approximately 35km west of Kenora
Slide 6: 2022/23 2023/24 Highlights
• High Lake exploration program; • 10,438 m of drilling Nov 2022 to Feb 2023 with world class intersections of gold mineralization • induced polarization survey in February 2023 • Prospecting May 2023 • Resume exploration drill program December 2023 2022/23 • Technical report (NI 43-101) released on
Slide 7: High Lake Property
HIGH LAKE PROPERTY March 2024 7
Slide 8: High Lake Property Announcements
HIGH LAKE PROPERTY ANNOUNCEMENTS 2023 • March 6, 2023 • Gold Intersection of 9.2 g/t gold over 26.4 meters approximately 280 meters from surface (Junior Mining Hub 2nd ranking in intercepts March) • February 28, 2023 • Within 15 meters of surface, intersected 6.14 g/t gold over 24.55 meters • Februa
Slide 9: High Lake Property Announcements
HIGH LAKE PROPERTY ANNOUNCEMENTS 2023 • January 26, 2023 • Gold Intersection of 13.52 g/t gold over 6.5 metres, 229 m from surface • January 9, 2023 • Gold Intersection of 24.96 grams per tonne of gold over 14.9 metres, 325 m from surface (Junior Mining Hub top 3 weekly intercepts) • December 12, 20
Slide 10: High Lake Indicated and Inferred Mineral Resource Estimate
PROPERTIES: HIGH LAKE HIGH LAKE Indicated and Inferred Mineral Resource Mineral Resource Wireframes and Drill Holes (looking northeast) Estimate Announced May 23, 2023 Classification Tonnes (k) Au (g/t) Au (k Oz) Indicated 152 9.38 45.8 Inferred 287 10.43 96.2 Potential open pit within the Mineral R
Slide 11: Longitudinal Looking North – Au Grade
PROPERTIES: HIGH LAKE LONGITUDINAL LOOKING NORTH – AU GRADE W ZONE P ZONE R ZONE PURDEX ZONE W E 0m Historical Resources Archean deposits of similar style -100m Have explored a small show long plunge lengths relative to portion of High Lake thus far their strike length indicating good Resource Expan
Slide 12: High Lake Geophysics Data
PROPERTIES: HIGH LAKE HIGH LAKE GEOPHYSICS DATA Four claims Acquired Jan 2024 March 2024 McFarlane Lake Mining Limited 12
Slide 13: High Lake Prospecting Data
PROPERTIES: HIGH LAKE HIGH LAKE PROSPECTING DATA Field work of a Prospecting program was completed in early May following up on Four claims Acquired Jan 2024 the currently known mineralization and the IP anomalies. Sampling assay results of this program, shown to the right, support the previous expl
Slide 14: New Claims Acquired
PROPERTIES: HIGH LAKE NEW CLAIMS ACQUIRED McFarlane acquired fifteen claims significantly expanding the exploration property at High Lake from 341.49 hectares to 585.2 hectares (Aug-Sep 2022). An additional four claims were acquired (Nov 2023-Jan 2024) bringing the total property to 626.0 hectares.
Slide 15: Water Sampling
PROPERTIES: HIGH LAKE WATER SAMPLING Surface Water Surface water sampling program was started in the fall on sample points SW-1 to SW-7. The program will be expanded to SW-10 in the spring Ground Water Ground water sampling will be initiated in the spring via current and future diamond drill holes i
Slide 16: High Lake – Early Exploration
PROPERTIES: HIGH LAKE & WEST HAWK LAKE HIGH LAKE – EARLY EXPLORATION CONTINUED EXPLORATION PROGRAM Our 2023/24 program will focus on the Purdex Zone east and west along strike as well as down dip to expand our mineral resource estimate. Drilling will also be carried out to confirm known PURDEX ZONE
Slide 17: High Lake 2023/2024 Drilling Program
PROPERTIES: HIGH LAKE HIGH LAKE 2023 / 2024 DRILLING PROGRAM THE PURDEX ZONE The bulk of the drilling will focus on expanding the resource at High Lake testing for continuation of the mineralization to the east and west as well as at depth. Step-out drilling to the east and west will check for addit
Slide 18: High Lake 2023/2024 Drilling Program
PROPERTIES: HIGH LAKE HIGH LAKE 2023 / 2024 DRILLING PROGRAM THE PURDEX ZONE The bulk of the 10,000m drill program will focus on expanding the resource at High Lake testing for continuation of the mineralization to the east and west as well 15.9 gpt as at depth. Step-out drilling to the east and wes
Slide 19: High Lake 2023/2024 Drilling Program – Western Areas
PROPERTIES: HIGH LAKE HIGH LAKE 2023 / 2024 DRILLING PROGRAM WESTERN AREAS There are several priority targets on the western portion of the High Lake property that will be tested to confirm previous high-grade intersection in currently identified zones (R, P, W) and follow up on IP anomalies in the
Slide 20: Other Properties
OTHER PROPERTIES March 2024 20
Slide 21: West Hawk Lake
PROPERTIES: HIGH LAKE & WEST HAWK LAKE WEST HAWK LAKE 3,068M DRILLING COMPLETED IN MARCH, 2022 WEST HAWK LAKE DRILLING PLAN VIEW 2022 Drilling Highlights of Waverly Raise Zone: • MLWH-22-01 intersected two zones, 22.17g/t gold over 1.27m including 49.4g/t gold over 0.55m, and 9.85g/t gold over 1.62m
Slide 22: McMillan / Mongowin
PROPERTIES: MCMILLAN / MONGOWIN MCMILLAN / MONGOWIN Located in Northeastern Ontario, 70 km MONGOWIN PROPERTY southwest of Sudbury McFarlane Lake acquired by staking April 2022 The McMillan Property is comprised of 12 mining claims totaling 268 hectares. The Mongowin Property is comprised of 122 mini
Slide 23: Gold Country – Michaud / Munro
PROPERTIES: MICHAUD / MUNRO GOLD COUNTRY Numerous past and current Gold HEDMAN producers. Past Copper, Zinc producers POTTERDOAL in the local area. MUNRO Ultramafic and Mafic Volcanic rocks of POTTER the Kidd-Munroe assemblage host to 4 VMS-producing mines, Kidd Creek mine MUNROE 80km to the east, a
Slide 24: McFarlane Lake Capital Structure
CORPORATE HIGHLIGHTS MCFARLANE LAKE CAPITAL STRUCTURE As at January 30, 2023 Shares Outstanding 198,618,851 Warrants 68,621,247 Options / RSU's 19,225,000 Fully Diluted 286,465,098 Market Capitalization 19,861,885 Warrant Grant Date Expiration Number of Warrants Outstanding Exercise Price 09
Slide 25: Summary - Path Forward
SUMMARY - PATH FORWARD EXPLORATION • 2024 High Lake Exploration program: • Targeting another 10K to 12K meter drilling program – Drilling indicates gold mineralization is open to the east and west of the Purdex Zone – Explore Similar Geophysical signatures observed in the IP Survey. – Follow-up on t
Slide 26: Proven Management Team
WHY INVEST? PROVEN MANAGEMENT TEAM MCFARLANE LAKE MINING IS LED BY A MANAGEMENT TEAM WITH EXPERIENCE Mark Trevisiol Roger Emdin P.Eng Chuck Lilly Robert Kusins President, CEO, Chair of Board COO, Director CFO, Secretary, Director Vice President Geology Over 30 years of experience in mining and 30+ y
Slide 27: Experienced Board
WHY INVEST? EXPERIENCED BOARD MARK TREVISIOL, CHAIR (CEO), CHARLES LILLY (CFO) AND ROGER EMDIN (COO) SERVE AS DIRECTORS. THE REMAINING DIRECTORS ARE; Perry Dellelce Amanda Fullerton Deborah Battiston Director Director Director Mr. Dellelce is a founder and the managing Ms. Fullerton has been the Vic
Slide 28: Experienced Board
WHY INVEST? EXPERIENCED BOARD MARK TREVISIOL, CHAIR (CEO), CHARLES LILLY (CFO) AND ROGER EMDIN (COO) SERVE AS DIRECTORS. THE REMAINING DIRECTORS ARE; Fergus Kerr Dario Zulich Director Director Mr. Kerr is a Professional Mining Engineer and is currently Mr. Zulich is an accomplished entrepreneur and
Slide 29: Questions
W ZONE P ZONE R ZONE PURDEX ZONE W E 0m Historical Resources -100m Have explored a small portion of High Lake thus far Resource Expansion -500m QUESTIONS -1000m March 2024 McFarlane Lake Mining Limited 29
Slide 30: Appendix
Appendix March 2024 McFarlane Lake Mining Limited 30
Slide 31: Historical Resources Summary
PROPERTIES: HIGH LAKE & WEST HAWK LAKE HISTORICAL RESOURCES SUMMARY *NON 43-101 COMPLIANT The resource estimates were calculated down to HISTORICAL RESOURCES ~100 metres in the early to late 1980’s and used resource categories that are inconsistent with those DATE OF set forth by NI 43-101 Standards
Slide 32: Regional Geology
PROPERTIES: HIGH LAKE & WEST HAWK LAKE REGIONAL GEOLOGY The geological setting on the High Lake and West Hawk Lake properties are consistent with most significant gold camps in Ontario. The property is underlain by metavolcanic/metasediment rocks of Goliath Archean Age intruded by younger Treasury M
Slide 33: Purdex Zone – Section
PROPERTIES: HIGH LAKE PURDEX ZONE – SECTION 9.84/10.0 NE SW 0m 43.54/2.29 Purdex Zone has only been tested to a 11.66/3.47 depth of 100m and has a significant exploration potential at depth. This zone is 11.66/7.01 currently the priority for future exploration. 5.49/3.96 Multiple Zones within quartz
Slide 34: High Lake Significant Intersections
PROPERTIES: HIGH LAKE HIGH LAKE 10,438M DRILLING COMPLETED BY END OF FEBRUARY 2023 Significant Intersections Length Gold Hole ID From Metres To metres metres grams/tonne MLHL-22-02 65.00 66.00 1.00 10.70 MLHL-22-04 187.00 188.45 1.45 32.58 MLHL-22-05 242.51 250.00 7.49 4.95 MLHL-22-05 267.45 273.83
Slide 35: High Lake Early Geophysics Data
PROPERTIES: HIGH LAKE HIGH LAKE EARLY GEOPHYSICS DATA Anomalies to the east of the Purdex Historical intercepts Zone, where no drilling has been Current intercepts done, are similar to where we hit high Electrum Lake grade gold mineralization. D ZONE PURDEX ZONE Similar geophysical data shows good R
Slide 36: High Lake Diamond Drilling
PROPERTIES: HIGH LAKE HIGH LAKE Diamond Drilling Completed 46 holes totaling 10,438 metres of the 8 to 10,000 metre drill program. Drilling was completed to confirm and expand known mineralization in the Purdex Zone. Target compliant resources ~150k ounces with a total Spend = $2.5 M to $3.00 M. Mar
Slide 37: High Lake Significant Intersections
PROPERTIES: HIGH LAKE HIGH LAKE 10,438M DRILLING COMPLETED BY END OF FEBRUARY 2023 Significant Intersections Length Gold Hole ID From Metres To metres metres grams/tonne MLHL-22-02 65.00 66.00 1.00 10.70 MLHL-22-04 187.00 188.45 1.45 32.58 MLHL-22-05 242.51 250.00 7.49 4.95 MLHL-22-05 267.45 273.83
Slide 38: West Hawk Lake Long Section
PROPERTIES: WEST HAWK LAKE WEST HAWK LAKE WEST HAWK LAKE LONG SECTION WAVERLY RIASE ZONE March 2024 McFarlane Lake Mining Limited 38
Slide 39: High Lake Geophysics Data
PROPERTIES: HIGH LAKE HIGH LAKE GEOPHYSICS DATA The report identifies five priority targets; 1. Purdex East, 2. Conglomerate, 3. A-D Extension, 4. Porphyry and 5. Gap. March 2024 McFarlane Lake Mining Limited
Slide 40: Indicated and Inferred Resource Announced May 23, 2023
PROPERTIES: HIGH LAKE HIGH LAKE Mineral Resource Wireframes and Drill Holes (looking northeast) Indicated and Inferred Resource Announced May 23, 2023 Tonnes Au Classification Au (k Oz) (k) (g/t) Indicated 152 9.38 45.8 Inferred 287 10.43 96.2 Indicated Inferred Au Cut- Au Au Tonnes Au Tonnes Au Off
Slide 41: Potential for Open Pit
PROPERTIES: HIGH LAKE HIGH LAKE Potential for Open Pit Potential Pits at 1.0 g.t cut-off (Subsets of Mineral Resource Estimate) Tonne Au Grade Au s (g/t) (k Oz) (k) Pit 1 Indicated 22 6.36 4.5 Inferred 3 5.25 0.5 Pit 2 Indicated 45 4.47 6.5 Inferred 7 3.65 0.8 March 2024 McFarlane Lake Mining Limite
Slide 42: Peer Group Comparison – Market Cap / Oz
Peer Group Comparison – Market Cap / Oz $/Ounce MI&I 49.3 41.7 39.2 33.6 33.6 29.9 26.8 25.2 17.7 12.3 Bonterra Tudor Banyan Wallbridge White Gold Auteco Cassiar McFarlane Westhaven Mayfair Lake note: McFarland Lake Mining numbers are based on a mix of compliant and non-compliant historical resource
Slide 43: Peer Group Comparison – Gold Grade (g/t)
Peer Group Comparison – Gold Grade (g/t) Canadian Explorers 10.07 7.32 5.67 3.04 1.75 1.86 1.13 1.14 0.62 0.80 Banyan Mayfair Tudor Cassiar Westhaven White Gold Wallbridge Bonterra Auteco McFarlane Lake notes: Source data from S&P Capital IQ and Technical reports on SEDAR May 15, 2023; McFarland Lak
Slide 44: Peer Group Comparison – EV/MI&I
Peer Group Comparison – EV/MI&I Enterprise value per ounce of Measured, Indicated and Inferred Resource – C$EV/ozAu MI&I $35 $30 $27 $26 $23 $20 $16 $16 $13 $7 Bonterra Tudor Wallbridge Banyan White Gold Cassiar Westhaven McFarlane Auteco Mayfair Lake notes: Source data from S&P Capital IQ and Techn
Slide 45: Market Cap ($M) vs MI&I (Moz)
Peer Group Comparison Market Cap ($M) vs MI&I (Moz) $400 25.00 And this is a poor $337 $350 equity market 20.00 $300 $250 15.00 Moz $200 M$ $166 $145 10.00 $150 $114 $100 $75 $63 5.00 $37 $46 $47 $50 $14 - - Cap. (M$) MI&I (Moz) notes: Source data from S&P Capital IQ and Technical reports on SEDAR,
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