McFarlane Lake Mining Limited announced the final assays returned on its recent drilling on the High Lake Property and the results of its induced polarization geophysical survey that has indicated a number of prospective exploration targets. High Lake Drilling results. McFarlane completed 46 holes totaling 10,437 metres in the Purdex Zone, which delivered multiple world-class gold intersections, previously reported, both near surface and at depth, including; December 12, 2022 - 9.82 g/t gold over 9.75 metres within 20 metres from surface January 9, 2023 - 24.96 g/t gold over 14.9 metres, 325 metres from surface January 26, 2023 - 13.52 g/t gold over 6.5 metres, 229 metres from surface February 7, 2023 - 148.37 g/t gold over 1.3 metres.

February 28, 2023 - 6.14 g/t gold over 24.55 metres within 15 metres of surface. March 6, 2023 - 9.2 g/t gold over 26.4 metres 280 metres from surface. The final assays to be returned on this drill program include drilling in hole MLM-23-43, which intersected 8.27 g/t gold over 3.95 metres from 251.4 to 255.3 and21.10 g/t gold over 0.33 metres from 248.7 to 249.0 as measured in drill core length from surface.

The elevation of the intersections was 201 metres and 198 metres below surface, respectively. These intersections are the furthest east testing of the zone at this elevation, leaving the zone open for expansion with further drilling to the east and at depth. The mineralized zone and current drill results to date with multiple high-grade intersections.

Hole ID, From metres, To metres, Length metres, Gold grams/tonne, MLHL-23-43, 248.67, 249.00, 0.33, 21.10,MLHL-23-43, 251.35, 255.30, 3.95, 8.27. Reported as core length as insufficient drilling to ascertain true width. Hole ID, Easting (mE), Northing (mN), Azimuth Deg., Dip Deg., Length m, MLHL-23- 43, 350172, 5508986, 184.5, -53.5, 282.0, MLHL-23-46, 350124, 5508929, 199.8, -59.3, 222.0. Geophysical Induced Polarization Survey.