Mcfarlane Lake Mining Limited · CSE:MLM
Mcfarlane Lake Mining — Investor Presentation (October 2026)
32 slides from Mcfarlane Lake Mining's investor presentation, October 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 | October 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: 6.16 Million Oz of Gold, Targeting 10 Million Oz Within 2 Years
6.16 Million Oz of gold TARGETING 10 MILLION OZ WITHIN 2 YEARS 1 6.16 Million Oz of gold TARGETING 10 MILLION OZ WITHIN 2 YEARS HOW MANY JUNIOR EXPLORERS ARE DOING THAT? Note 1 – 1.07 million indicated ounces of gold at 0.96 g/t contained in 34.68 Million tonnes 5.09 million inferred ounces of gold
Slide 4: Our Vision, 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 5: Updated MRE
UPDATED MRE UPDATED MRE 8.7 km Strike MRE August 18/2026 +30% increase (US3600/oz) McFarlane Stock inPrice valuation – 30% • 5.09 million inferred oz gold at increase May 28 0.87 g/t gold • 1.07 million indicated oz gold at 0.96 g/t gold Note: See Appendix for Mineral Resource Estimate notes and ass
Slide 6: Recent Developments
RECENT DEVELOPMENTS • Oct 15/26– COO appointed– Gilbert Lamarche P.Eng S T R O N G Y E A R / Y E A R P E R F O R M A C E • Oct 2 /26 – New MRE published • 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,
Slide 7: Significant Value Disconnect
SIGNIFICAN T VALUE DISCONNECT Relative Valuation Versus Canadian Development Peers Based on ~6.16 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 N
Slide 8: 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 ~6.16 Moz MRE** @ US$3,600/oz 3.45 1.01 0.89 0.74 7.0 1.41 0.68 6.8 6.16 6.1 5.7 0.73 5.6 3.60 4.5 0.92 7.20 3.9 3.0 2.8 Tower Great
Slide 9: Tier-1 Mining Jurisdiction: Ontario's Abitibi Region
TIER-1 MINING ONTARIO’S ABITIBI REGION ONTARIO’S ABITIBI REGION DISCOVERY JURISDICTION DISCOVERY HWY 101 McEWEN TIMMINS MINING PAN AMERICAN FOLEYET SILVER HWY 11 WORLD-CLASS INFRASTRUCTURE KIRKLAND LAKE Established roads, power, and skilled HWY 101 labour support year-round exploration AGNICO EAGLE
Slide 10: 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 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: Expanding Potential at Depth
EX P A N D IN GP O T EN T IA LA TD EP T H Open at depth with significant upside potential for continued resource growth. EX P A N D IN G P O T EN T IA L A T D EP T H Open at depth with significant upside potential for continued resource growth. < 8.7 km > HYDR O CRE E K BI G DOME GOLD EN LA KE JU BY
Slide 13: 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 13
Slide 14: 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 Contained Contained Metal Classification Cut-off Au G/t Classification Cut-off Au G/t Metal Oz Oz Indicated 1
Slide 15: 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 McFarlane Site hectares visit of iMetal
Slide 16: 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 16
Slide 17: 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 +10.0M OZ AU
Slide 18: 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 19: 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 20: Capital Structure
CAPITAL STRUCTURE CAPITAL STRUCTURE Ownership Structure CSE: MLM | OTC: MLMLF Share Price* C$0.44 13% Market Capitalization C$255 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 21: 6.16 Million Oz of Gold, Targeting 10 Million Oz Within 2 Years
6.16 Million Oz of gold TARGETING 10 MILLION OZ WITHIN 2 YEARS 1 6.16 Million Oz of gold TARGETING 10 MILLION OZ WITHIN 2 YEARS HOW MANY JUNIOR EXPLORERS ARE DOING THAT? Note 1 – 1.07 million indicated ounces of gold at 0.96 g/t contained in 34.68 Million tonnes 5.09 million inferred ounces of gold
Slide 22: Appendix
APPENDIX APPENDIX CSE: MLM | OTCQB: MLMLF | FRA: W2Z 22
Slide 23: 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 24: 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 25: 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 26: 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 5.09 Moz Au 1.07 Moz Au Sudbury INFERRED @ 0
Slide 27: 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 28: Exploration - Focused on Adding Gold Ounces
EXPLORATION - FOCUSED ON ADDING GOLD OUNCES Announcement January 2026 – 826 Zone CSE: MLM | OTCQB: MLMLF | FRA: W2Z 28
Slide 29: 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 30: 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 31: 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 32: Notes to MRE for Tables 1 & 2
NOTES TO MRE FOR TABLES 1 2 NOTES TO MRE FOR TABLES 1 & 2 Note 1: Mineral Resource Statement Notes CIM definition standards were followed for the resource estimate. This Mineral Resource has an effective date of August 15, 2026. The 2025 resource models used ordinary kriging (OK) grade estimation wi
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