Mcfarlane Lake Mining Limited · CSE:MLM
Mcfarlane Lake Mining — Investor Presentation (September 2026)
30 slides from Mcfarlane Lake Mining's investor presentation, September 2026
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 | September 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 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: Updated MRE
UPDATED MRE UPDATED MRE MRE August 18/2026 (US3600/oz) +30% increase McFarlane Stock • 5.06 million inferred oz gold at 0.87 g/t gold 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 ounces
Slide 5: Recent Developments: Re-Rating Underway
RECENT DEVELOPMENTS RE-RATING UNDERWAY • September 9/26 – Closed C$17.25M bought deal financing (upsized from C$15M) • August 5/26 – 19.9% Stake in iMetal • July 28/26 – Paid down debt, over US$13M paid down, now at US$1.7M • July 23/26 – 1.9 km of strike at Golden Lake- 179 m at 0.87 gpt hanging wa
Slide 6: iMetal Acquisition
iMetal Acquisition AUGUST 5 2026 • Transaction closed August 17, 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:
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 $10 0 $94 $70 $68 $90 $80 $70 $57 $60 $44 Peer Average: US$48/oz $33 $33 $50 $40 $27 $25 $10 $30 $20 $10 $0 Gold X2 Galleon Gold Banyan Gold Troilus Mayfair Gold McFarlane Lake Ne
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 5.7 0.73 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 Where we Drill CSE: MLM | OTCQB: MLMLF | FRA: W2Z 11
Slide 12: Juby Gold Project: MLM Project Portfolio
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 5.06Moz Au 1.20Moz Au Sud
Slide 13: Tier-1 Mining Jurisdiction: Ontario's Abitibi Region
TIER-1 MINING ONTARIO’S ABITIBI REGION ONTARIO’S ABITIBI REGION GLENCORE JURISDICTION DISCOVERY HWY 101 McEWEN TIMMINS PAN MINING FOLEYET AMERICAN HWY 11 SILVER WORLD-CLASS INFRASTRUCTURE KIRKLAND LAKE Established roads, power, and skilled HWY 101 AGNICO EAGLE labour support year-round exploration C
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: Juby: Project Snapshot
JUBY: PROJECT SNAPSHOT JUBY: PROJECT SNAPSHOT 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 SETTING Archean-age Abitibi
Slide 16: In Pit Mineralization + Outside Pit Mineralization
In Pit Mineralization + Outside Pit Mineralization HYDR O C R EEK 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 16
Slide 17: 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 18: High-Grade Open-Pit Potential
HIGH–GRADE OPEN–PIT POTENTIAL HIGH–GRADE OPEN–PIT POTENTIAL 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 CLASSIFICATION METAL AU OZ CLASSIFICATION
Slide 19: 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 20: Exploration - Focused on Adding Gold Ounces
EXPLORATION - FOCUSED ON ADDING GOLD OUNCES Announcement January 2026 – 826 Zone CSE: MLM | OTCQB: MLMLF | FRA: W2Z 20
Slide 21: 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 22: 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 22
Slide 23: Positioned for Major Resource Growth
POSITIONED FOR MAJOR RESOURCE GROWTH 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 Target 8Moz Sensitivity
Slide 24: The Path to Production
THE PATH TO PRODUCTION THE PATH TO PRODUCTION Disciplined, phased approach to development – focused on de-risking each stage and building long-term value. 2026 2026 2027 2028 Q1 Q2 Q3 Q4 Q1 Q4 Q1 Q2 • Complete Phase 1 Infill • Commence Phase 2 Infill & • Q2 Scoping study released • Drilling – Resour
Slide 25: Capital Structure
CAPITAL STRUCTURE CAPITAL STRUCTURE Ownership Structure CSE: MLM | OTC: MLMLF Share Price* C$0.53 13% Market Capitalization C$312 million 9% 40% Shares Outstanding 588.1 million Warrants 88.2 million 14% Options 50.7 million Fully Diluted 727.0 million 24% Cash & Cash Eq. ~C$15.0 million Management
Slide 26: Appendix
APPENDIX APPENDIX CSE: MLM | OTCQB: MLMLF | FRA: W2Z 26
Slide 27: Budget
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 28: 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 29: 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 30: Notes to MRE for Tables
NOTES TO MRE FOR TABLES 1 2 NOTES TO MRE FOR TABLES 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. Long term Gold
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