Mr. Mark Trevisiol reports

MCFARLANE LAKE ANNOUNCES EXTENSION OF US$1.69 MILLION OF REMAINING DEBENTURES TO OCTOBER 31, 2027

McFarlane Lake Mining Ltd. has obtained the written consent of all debentureholders of its 15.0 per cent senior secured debentures due 2026, of which approximately $1,695,000 (U.S.) aggregate principal amount remains outstanding, to certain amendments to the trust indenture dated as of Sept. 29, 2025, between the company and Odyssey Trust Company, as trustee and collateral agent.

The approved amendments will extend the maturity date of the debentures from Oct. 26, 2026, to Oct. 31, 2027, and eliminate the company's obligation to finance and top up the interest reserve. Any amounts currently held in the interest reserve will remain available to finance interest payments or, if applicable, be released to the company. The debentures will continue to bear interest at 15.0 per cent per annum, payable quarterly in arrears, through the extended maturity date.

The amendments have been implemented by way of a supplemental indenture. By extending the maturity date to Oct. 31, 2027, and eliminating the company's obligation to finance and top up the interest reserve, the amendments are expected to provide the company with additional financial flexibility, improve its near-term liquidity and working capital position, reduce refinancing pressure, and allow it to focus its resources on advancing exploration and development of its gold assets, including the Juby gold project.

About McFarlane Lake Mining Ltd.

McFarlane Lake is a gold exploration company focused on exploring and advancing the Juby gold project near Gowganda, Ont. The Juby gold project has an (National Instrument 43-101) inferred resource of 5.06 million ounces of gold at 0.87 gram per tonne contained in 180.67 million tonnes and indicated resources of 1.14 million ounces of gold at 0.95 g/t contained in 37.17 million tonnes, using a long-term gold price of $3,600 (U.S.) per ounce. These resources have an effective date of Aug. 14, 2026. Sensitivities performed at higher gold prices -- $4,600 (U.S.) per oz gold -- the deposit holds 5.40 million inferred ounces at 0.85 g/t gold and 1.20 million indicated ounces at 0.93 g/t gold.

The full technical report on these resources will be issued within 45 days of the company's mineral resource estimate announcement. The technical report will be issued by BBA E&C Inc., an independent organization from McFarlane Lake Mining. McFarlane is currently planning to perform exploration drilling on the Juby gold project, as well as other study work to advance the development of the property.

In addition to the Juby gold project, McFarlane holds a portfolio of 100-per-cent-owned gold assets across Ontario, including the past-producing McMillan gold mine and Mongowin properties located approximately 70 kilometres west of Sudbury and the Michaud/Munro properties located 115 km east of Timmins. McFarlane is a reporting issuer in Ontario, British Columbia and Alberta.

We seek Safe Harbor.