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McFarlane files technical report on High Lake Property near Kenora

Jul 5, 2023

McFarlane Lake Mining Limited, a Canadian gold exploration and development company, is pleased to announce the filing of an independent Technical Report (the "Technical Report") prepared in accordance with National Instrument 43-101 for the 100% owned High Lake Property west of Kenora, Ontario and the West Hawk Lake property in Manitoba 10 kilometres west of the High Lake property. The Technical Report includes an Initial Mineral Resource Estimate ("MRE"), previously announced (see table 1), of the Purdex Zone on the High Lake Property

The Technical Report titled "Technical Report and Initial Mineral Resource Estimate of The High Lake - West Hawk Lake Gold Project, Kenora Mining Division, Ontario and Falcon Lake Area, Manitoba" was independently prepared by P&E Mining Consultants and is dated June 30, 2023, and supports the disclosure made by the Corporation in its May 24, 2023 press release announcing an Initial Mineral Resource Estimate. There are no differences between the Technical Report and the information disclosed in the May 24, 2023, news release.

The Technical Report can be found under the Corporation's profile on SEDAR (www.sedar.com) and on the Corporation's website (www.mcfarlanelakemining.com).

The MRE, independently prepared by P&E Mining Consultants Inc., has been classified in accordance with CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2014) and follows the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019). It is based on our recently completed drilling program and mineralization modelling with an effective date of April 14, 2023.

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