Mcfarlane Lake Mining Limited · CSE:MLM
Mcfarlane Lake Mining — Investor Presentation (February 2026)
37 slides from Mcfarlane Lake Mining's investor presentation, February 2026
Slide 1: Corporate Presentation Q1 2026
CO RPORATE PRESENTAT IO N Q1 2 02 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 indic ated and inferred mineral resourc es as a relative measure of the level of c onfidence in the resource estimate. R eaders are cautioned that mineral resources are not mineral reserves and that the ec onomic viability of
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 $3750/oz gold Juby yield: Timmins 4.22 million inferred ounces at 0.85 gpt gold Sudbury 1.2 milli
Slide 5: The Juby Project has all the infrastructure to support a district scale mining camp
The Juby Project has all the infrastructure to support a district scale mining camp IT CHECKS ALL THE BOXES ✓ INFRASTRUCTURE – POWER, ROADS ✓ POPULATION BASE 25,000 WITHIN 100 KM ✓ +90% METALLURGICAL RECOVERIES (impurity free) ✓ PRODUCTION OPTIONALITY ✓ HIGH GRADE OPEN PIT STARTER OPTION WITH DIRECT
Slide 6: Investment Opportunity Juby Gold (Ontario)
Investment Opportunity GREATLY UNDERVALUED OPPORTUNITY Where we play FOR GOLD INVESTING Company Project Market Cap EV ($M) Resource (Moz Au) Market Cap/Oz ($M)* Juby Gold 45 54 4.18 11 (Ontario) Moss Gold 686 370 6.67 107 (Ontario) Fenn-Gib Gold 355 300 4.45 82 (Ontario) Chibougamau* 294 287 3.54 83
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: Exploration - Focused On Adding Gold Ounces
Exploration - Focused On Adding Gold Ounces +10Moz Potential Target 8Moz +10.0MAT oz Au 6Moz ~ 1 g/t Au Sensitivity at $3750 / oz Au 4Moz IND: 1.2 M Oz @ 0.94 g/t Au Based on Geological MRE Growth INF: 4.2 M Oz @ 0.85 g/t Au 0.25 COG @ $2500 Au Modeling Review this is what we are 2Moz Potential IND:
Slide 9: Four Gold Deposits
FOUR GOLD DEPOSITS HYRDO CREEK BIG DOME GOLDEN LAKE JUBY CSE: MLM OTCQB: MLMLF 9
Slide 10: RTDZ – What Does It Look Like?
RTDZ – WHAT DOES IT LOOK LIKE? Deformation - Shearing - Folding JUBY HYDRO CREEK CSE: MLM OTCQB: MLMLF 10
Slide 11: Value Add Drivers 2026
Value Add Drivers 2026 Visible Gold Cluster – Drilled Jan 2026 ➢ Exploration Drilling 20 occurrences of Visible Gold. 6.58 gpt over 10.3 m contained in 3.32 ➢ Target to add 1 million ounces of gpt of 22.3 m - all within 33m of surface resources ➢ 13,000 Meters of drilling – Largest program every on
Slide 12: More Gold – Exploration Plan 2026
More Gold – Exploration Plan 2026 CSE: MLM OTCQB: MLMLF 12
Slide 13: 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 13,000 meters of drilling Long Section – Golden Lake and Juby Golden Lake – significant Juby West – potential to Juby East – pote
Slide 14: 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 14
Slide 15: Announcement January 2026 – 826 Zone
Exploration - Focused On Adding Gold Ounces Annoucement January 2026 – 826 Zone CSE: MLM OTCQB: MLMLF 15
Slide 16: Drilling at Golden Lake Deposit
Drilling at Golden Lake Depost February 2026 CSE: MLM OTCQB: MLMLF 16
Slide 17: Open at Depth
OPEN AT DEPTH Gold deposits that extend well below depths of 3,000m ---------------------------------------------- Our Deepest known 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 CSE: MLM OTCQB: MLMLF 17
Slide 18: High Grade Open Pit Potential – Early Ore Shipping
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 indica
Slide 19: 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
Slide 20: Next Steps - The Path to Developing Ontario's Next Gold Deposit
Next Steps -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 received, and expan
Slide 21: Capital Structure
Capital Structure Aris Mining owns 19.5% of common shares As of Nov 30, 2025 Shares Outstanding 423.5M Warrants 93.7M Options 59.1M Fully Diluted 576.3M Market Capitalization $44.5M CSE: MLM OTCQB: MLMLF 21
Slide 22: Investment Opportunity Juby Gold (Ontario)
Investment Opportunity GREATLY UNDERVALUED OPPORTUNITY Where we play FOR GOLD INVESTING Company Project Market Cap EV ($M) Resource (Moz Au) Market Cap/Oz ($M)* Juby Gold 45 54 4.18 11 (Ontario) Moss Gold 686 370 6.15 111 (Ontario) Fenn-Gib Gold 355 300 4.4 80 (Ontario) Chibougamau* 294 287 3.54 83
Slide 23: Appendix
APPENDIX 1 CSE: MLM OTCQB: MLMLF 23
Slide 24: Proven Management Team
Proven Management Team LED BY A TEAM WITH EXPERIENCE Mark Trevisiol Brad Boland Winston Whymark Andrew McLellan, MSc President, CEO, Chair of Board CFO, Secretary Manager Exploration Senior Geologist Andrew is a geologist with 15 years Over 30 years of experience in mining and Over 25 years of exper
Slide 25: Experienced Board
Experienced Board Perry Dellelce Amanda Fullerton Deborah Battiston Director Director Director Mr. Dellelce is a founder and the managing Ms. Fullerton has been the Vice President, Ms. Battiston is a CPA and an ICD.D (“Institute of partner of Wildeboer Dellelce LLP, one of Legal & Corporate Secretar
Slide 26: Experienced Board
Experienced Board Fergus Kerr Dario Zulich Roger Emdin P.Eng Director Director Director Mr. Zulich is an accomplished entrepreneur and community 30+ years of senior management and Mr. Kerr is a Professional Mining Engineer and is leader who has made significant contributions to the sports operating
Slide 27: Table 2 – Gold Price Sensitivities
Table 2 – Gold Price Sensitivities (OP= Open Pit, UG= Underground, Mt= Millions tonnes, Moz= Millions Ounces, Au= Gold metal) Gold Revenue Cut-Off Tonnage Grade Contained Price Factor Classification Constraints Grade (tonnes) (Au g/t) Metal Oz ($USD) (RF) (Au g/t) Indicated OP/UG 0.25/1.90 27,317,00
Slide 28: Excellent Metallurgy Recoveries
Excellent metallurgy 9 3. 4 % 9 1% recoveries A u R ecover y C yanide + G O L D R E C O VE R Y G O L D R E C O VE R Y G ravi ty wi th provides process 25 m icr ons Juby GOLDE N plant optionality Deposit LA KE Partical Head Au Au Recovery Zone Size P80 Grade Recovery CN + Gravity OP P ORT UNITY mirco
Slide 29: Top 10 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**) From GT Hole ID To (m) Length Au g/t (grade x Deposit (m) thickness) G05-22 199.20 202.64 3.44 130.06 447.41 Big Dome High Grade Potential GL-18-44 1
Slide 30: 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 30
Slide 31: Notes to MRE for Tables 1 and 2
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 32: Shining Tree Geology
SHINING TREE GEOLOGY Ridout-Tyrrell JUBY Deformation PROPERTY Zone (RTDZ) Porcupine Assemblage 2690-2680 Ma Sediments and Felsic Intrusions CSE: MLM OTCQB: MLMLF 32
Slide 33: 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 33
Slide 34: 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 34
Slide 35: 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 36: Resources Cut-Off Constraints
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 Tonnage Grade Contained Resources Constraints Grade (Au g/t) (Mt) (Au g/t) Metal (Moz) Indicated OP 0.25 30.78 0.94 0.93
Slide 37: 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 37
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