Slide 1: Fast Tracking Gold Production in the Abitibi
FAST TRACKING GOLD PRODUCTION IN THE ABITIBI Positioned for significant resource growth and near-term value creation CORPORATE PRESENTATION | August 2026 CSE: MLM | OTCQB: MLMLF | FRA: W2Z
Slide 2: Disclaimer
DISCLAIMER DISCLAIMER Cautionary Note Regarding Forward-Looking Statements not been verified by any independent source, and the Company has not independently verified any third-party information. While the Company believes such third party information to be generally reliable, such information and T
Slide 3: Our Vision and Our Mission
McFarlane Lake is a Canadian gold company advancing the large-scale Juby Gold Project in Ontario – a district-scale opportunity with multi-million-ounce growth potential and a clear path to production. McFarlane Lake is a Canadian gold company advancing the large-scale Juby Gold Project in Ontario –
Slide 4: Recent Developments
Recent Developments Recent Developments MRE August 18/2026 (US3600/oz) 5.06 million inferred oz gold at 0.87 g/t gold +30% increase McFarlane Stock inPrice valuation – 30% 1.14 million indicated oz gold at 0.95 g/t gold increase May 28 Resource Sensitivities at US $4600/oz gold 5.40 million inferred
Slide 5: Further Developments – On The Right Path
FURTHER DEVELOPMENTS VALUATION – On The Right Path • August 20/26 – $15 million financing • August 5/26 – 19.9% Stake in iMetal +30% increase McFarlane Stock inPrice valuation – 30% • July 28/26 – Paid down Debt, over $US13 M paid down, debt now at $1.7 increase May 28 • July 23/26 – 1.9 km of strik
Slide 6: iMetal Acquisition
iMetal Acquisition AUGUST 5 2026 • Acquired 19.9 % of iMetal Resources • Purchase price of $1.4 million with full warrant • Potential of Geological Trends to continue onto iMetal footprint • Combined land position of 13,000 hectares CSE: MLM | OTCQB: MLMLF | FRA: W2Z 6
Slide 7: Announcement
ANNOUNCEMENT J UL Y 2 3 /2 6 • McFarlane intersects 179 metres (m) of 0.87 grams/tonne (g/t) Gold and 155 m of 0.9 g/t Gold • Overall Strike length now extends to 1.9 kilometers (km) • New mineralized lense discovered in “Hanging Wall” widens gold mineralization in Golden Lake Deposit at Juby Gold P
Slide 8: Announcement
ANNOUNCEMENT J UL Y 2 3 / 2 6 • McFarlane intersects 179 metres (m) of 0.87 grams/tonne (g/t) Gold and 155 m of 0.9 g/t Gold • Overall Strike length now extends to 1.9 kilometers (km) • New mineralized lense discovered in “Hanging Wall” widens gold mineralization in Golden Lake Deposit at Juby Gold
Slide 9: Significant Value Disconnect
SIGNIFICAN T VALUE DISCONNECT RELATIVE VALUATION VERSUS CANADIAN DEVELOPMENT PEERS Based on ~6.2 Moz MRE** @ US$3,600/oz $90 $83 $80 $71 $70 $60 $60 $50 $50 Peer Average: US$45/oz $40 $38 $27 $27 $40 $30 $25 $20 $10 $10 $0 Gold X2 Galleon Gold Banyan Gold Troilus Mayfair Gold NeXGold McFarlane Lake
Slide 10: Juby Is Among Ontario's Largest Gold Projects
JUBY IS AMONG ONTARIO’S LARGEST GOLD PROJECTS TOTAL PROJECT RESOURCE (Moz AuEq)* PROJECT GRADE (g/t AuEq)* 1.00 A Top 10 Development-Stage Gold Project in Ontario 11.0 ~6.6 Moz MRE** @ US$4,600/oz 3.45 1.01 0.89 0.74 7.0 1.41 0.68 6.8 6.2 6.1 0.73 5.7 5.6 3.60 4.5 0.92 7.20 3.9 3.0 2.8 Tower Great B
Slide 11: The Path to 10 Million Ounces
The Path to N 10 MILLION OUNCES CSE: MLM | OTCQB: MLMLF | FRA: W2Z 11
Slide 12: Juby Gold Project
MLMPROJECT PORTFOLIO MLM PROJECT PORTFOLIO Advancing a 100%-owned portfolio of gold assets in Canada ONTARIO FLAGSHIP ASSET Michaud/ Munro JUBY GOLD PROJECT • Juby Deposit • Big Dome Deposit Timmins JUBY PROJECT • Golden Lake Deposit • Hydro Creek Deposit McMIllan/ Mongowan 3.17Moz Au 1.01Moz Au Sud
Slide 13: Tier-1 Mining Jurisdiction: Ontario's Abitibi Region
ONTARIO’S ABITIBI REGION ONTARIO’S ABITIBI REGION TEIR-1 MINING Timmins JURISDICTION ONTARIO WORLD-CLASS INFRASTRUCTURE Established roads, power, and skilled labour support year-round exploration and low-cost development. PROVEN GOLD BELT Over 200 million ounces of historical Temiskaming production
Slide 14: Community Engagement & Environmental Stewardship
COMMUNITY ENGAGEMENT ENVIRONMENTAL STEWARDSHIP COMMUNITY ENGAGEMENT & ENVIRONMENTAL STEWARDSHIP FIRST NATIONS ENGAGEMENT EMPLOYMENT & TRAINING • First Nations companies doing drilling at site • Prioritizing the employment of skilled First Nations talent across exploration programs. • Commitment to t
Slide 15: Bulk Sample Area
Water flows around Juby project site Bulk Sample Area
Slide 16: Juby: Project Snapshot
JUB Y :P RO JE C TS N A P S H O T JUB Y : P RO JE C T S N A P S H O T LOCATION Near Gowganda, Ontario, Large-scale, near-surface gold system within the Abitibi Greenstone Belt with flexible pathways to production OWNERSHIP 100% McFarlane Lake STAGE Resource Definition – Completed MRE GEOLOGICAL SETT
Slide 17: In Pit Mineralization + Outside Pit Mineralization
In Pit Mineralization + Outside Pit Mineralization HYDR O C R E E K BI G DOME GOLD EN LA KE JU BY DR I L L I N G H E R E Significant Potential to add more ounces CSE: MLM | OTCQB: MLMLF | FRA: W2Z 17
Slide 18: Expanding Potential at Depth
EXPANDING POTENTIAL AT DEPTH Open at depth with significant upside potential for continued resource growth. EXPANDING POTENTIAL AT DEPTH Open at depth with significant upside potential for continued resource growth. < 8.7 km > HYDRO CREEK BIG DOME GOLDEN LAKE JUBY 750m ~300 m 1 km Open at depth & al
Slide 19: High-Grade Open-Pit Potential
HIG H - GR AD EO P E N - PITPO T E N T IA L HIG H - GR AD E O P E N - PIT PO T E N T IA L MORE GOLD | Conceptual HG Targets @ Juby Main Strategic open-pit starter option supports early production and cash flow generation RESOURCE CONTAINED RESOURCE CONTAINED CUT-OFF AU G/T CUT-OFF AU G/T CLASSIFICAT
Slide 20: Parallel Structures? Might be our best deposit yet
Parallel Structures? Might be our best deposit yet MO R E G O LD Parallel Structures? Might be our best deposit yet A | 826 Zone 3.32 g/t over 22.35 m B | Byberg Mining Lease B Grabs up to 7.54 g/t Au D C C | Juby Mining Lease Grabs up to 17.60 g/t Au PARALLEL STRUCTURES? A D | What is under the gla
Slide 21: Exploration - Focused on Adding Gold Ounces
EXPLORATION - FOCUSED ON ADDING GOLD OUNCES Announcement January 2026 – 826 Zone CSE: MLM | OTCQB: MLMLF | FRA: W2Z 21
Slide 22: 826 Zone Modelling
JU18-140 JU8-26-146 JU8-26-141 JU8-26-144 JU8-26-147 JU8-26-143 826 ZONE JU8-26-142 JU13-137 JU8-26-145 Zone 801 MODELLING JU8-26-147 1.12 gpt/17.35m Zone 802 JU8-26-142 This Might Be 3.32 gpt/22.35m Our STAR ZONE JU8-26-141 JU8-26-143 0.69 gpt/28.17m 0.64 gpt/37.35m JU13-137 1.43 gpt/8.0m JU8-25-14
Slide 23: New Targets – Might Be Our Best Deposit Yet
NEW TARGETS – MIGHT BE OUR BEST DEPOSIT YET! Golden Lake Extension of 826 Zone to the Northwest 826 Drill Targets Drill Zone Targets Juby Surface Grab Samples JU8-26- 146 JU8-26- JU8-26- 145 Grab 144 Samples CSE: MLM | OTCQB: MLMLF | FRA: W2Z 23
Slide 24: Positioned for Major Resource Growth
PO S IT IO N E D F O R MA J O R R E S O U RC E G RO W T H Juby’s size, geology, and setting provide the foundation for a multi-million-ounce expansion story. Juby’s size, geology, and setting provide the foundation for a multi-million-ounce expansion story. +10Moz MRE GROWTH POTENTIAL* Potential Tar
Slide 25: The Path to Production
TH EP A THTOP R O D U C TIO N TH E P A TH TO P R O D U C TIO N Disciplined, phased approach to development – focused on de-risking each stage and building long-term value. 2025 2026 2026 2027 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q4 • Acquisition and Updated NI • Complete Phase 1 Infill & • Commence Phase 2 Infill &
Slide 26: Capital Structure
CAPITAL STRUCTURE* CAPITAL STRUCTURE* Ownership Structure CSE: MLM | OTC: MLMLF 10% Share Price** C$0.43 10% Market Capitalization C$230 million 41% 41% 20% 15% Shares Outstanding 537 million Warrants 99.6 million 24% 24% Options 54.8 million Fully Diluted 690.6 million Michael Gentile Other Strateg
Slide 27: Appendix
APPENDIX APPENDIX CSE: MLM | OTCQB: MLMLF | FRA: W2Z 27
Slide 28: Budget: Remaining 2026 & 2027
BUDGET Remaining 2026 & 2027 – Next 16 months to end of 2027 Budget Item Basis of Estimate $M General & Administrative $150k/month × 16 months 2.4 Exploration 50,000 m @ $250/metre 12.5 Scoping Study / Environmental/ Studies/Prep for Bulk sample 1.5 Met testing Total Expenditures 16.4 Figures in C$
Slide 29: Juby Is Among Ontario's Largest Gold Projects
JUBY IS AMONG ONTARIO’S LARGEST GOLD PROJECTS TOTAL PROJECT RESOURCE (Moz AuEq)* PROJECT GRADE (g/t AuEq)* 1.00 11.0 A Top 10 Development-Stage Gold Project in Ontario 3.45 1.01 0.74 1.41 ~5.4 Moz MRE** @ US$3,750/oz 0.68 7.0 6.8 6.1 0.73 0.92 5.7 3.59 5.6 0.92 7.20 4.5 4.2 3.9 3.0 2.8 *Based on S&P
Slide 30: Leadership Team with Proven Development Expertise
Leadership Team with Proven Development Expertise Leadership Team with Proven Development Expertise EXECUTIVE TEAM Mark Trevisiol Brad Boland Winston Whymark Andrew McLellan President, CEO, Chair of Board CFO, Corporate Secretary Manager Exploration Senior Geologist • 30+ years of experience in • 25
Slide 31: Board of Directors
Leadership Team with Proven Development Expertise Leadership Team with Proven Development Expertise BOARD OF DIRECTORS Perry Dellelce Director Amanda Fullerton Director Deborah Battiston Director • Founder & Managing Partner, Wildeboer • VP, Legal & Corporate Secretary, GCM • CPA, ICD.D with 35+ yea
Slide 32: Notes to Mineral Resource Tables
NO T E ST OM REFO RT AB L E S12 NO T E S T O M RE FO R T AB L E S 1 & 2 Note 1: Mineral Resource Statement Notes 7. The 0.25 g/t Au cut-off for OP and the 1.85 g/t Au cut-off for UG used for reporting is based on the following: 1. CIM definition standards were followed for the resource estimate. a.