McFarlane Lake Mining Technical Presentation

CORPORATE PRESENTATION PDAC MARCH 2026

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 subscribe for any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The information contained herein is subject to change without notice and is based on publicly available information, internally developed data, third party information and other sources. The third-party information has not been independently verified. While the Company may not have verified the third-party information, nevertheless, it believes that it obtained the information from reliable sources and has no reason to believe it is not accurate in all material respects. Where any opinion or belief is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion or belief only. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency or reliability of the information. The Company disclaims and excludes all liability (to the extent permitted by law), for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information in this presentation, its accuracy, completeness or by reason of reliance by any person on any of it. The information contained in this presentation does not purport to contain all the information that may be necessary or desirable to fully and accurately evaluate an investment in securities of the Company and is not to be considered as a recommendation by the Company that any person make an investment in the Company. The information in this presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. This presentation should not be construed as legal, financial or tax advice to any individual, as each individual’s circumstances are different. Readers should consult with their own professional advisors regarding their particular circumstances.

The distribution of this presentation may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions and the Company does not accept liability to any person in relation thereto.

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Cautionary Statement on Mineral Resources This news release uses the terms indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimates disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to an indicated or measured mineral resource category; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.

**Cautionary Note Regarding Drill Results and Grades: The drill results, grades, and interceptions disclosed herein for the Juby Gold Project and Tyranite properties are from prior exploration programs and have not been verified by a qualified person under NI 43-101. These results are historical in nature, are not current, and should not be relied upon as indicative of future exploration success or as current mineral resources or reserves. Further, the grades and interceptions presented may not reflect the potential for economic extraction and are presented for illustrative purposes only. Additional exploration work, including verification drilling, sampling, and independent analysis by a qualified person, will be required to verify these results and bring them into compliance with NI 43-101.

**Historical Technical Data Under NI 43-101 guidelines the technical data and information provided in this announcement is considered to be historical. The data and information was taken from a report titled “Technical Report on the Update Mineral Resource Estimate on the Juby Gold Project”, co-authored by GeoVector Management and SGS Geological Services having an effective date of July 14, 2020.

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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 yield:

4.22 million inferred ounces at 0.85 gpt gold 1.2 million indicated ounces at 0.94 gpt gold

Juby Timmins Sudbury

(see Table 2 and note 1)

One of Ontario’s Largest undeveloped gold properties CSE: MLM

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Toronto 4

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 SHIPPING OF ORE ✓ 11 PROCESS PLANTS WITHIN 150km RADIUS ✓ or SMALL FLOTATION ONLY MILL (50 k OZ/YR) ✓ Or LARGE SCALE (+250 K OZ/YR OPERATION)

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Investment Opportunity Where we play Company

Project

Market Cap ($M)*

EV ($M)

Resource (Moz Au)

Market Cap/Oz

55

54

4.18

13

Moss Gold (Ontario)

686

370

6.67

107

Fenn-Gib Gold (Ontario)

355

300

4.45

82

Chibougamau* * (Quebec)

294

287

3.54

83

Juby Gold (Ontario)

*As of 3:00pm; 2026-2-19 “CEO.ca”

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GREATLY UNDERVALUED OPPORTUNITY FOR GOLD INVESTING

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Sold for $375 M

Sold to IMG $375M (2025-10-20) 6

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

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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

MRE Growth 2Moz Potential 1Moz

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IND: 1.2 M Oz @ 0.94 g/t Au INF: 4.2 M Oz @ 0.85 g/t Au

0.25 COG @ $2500 Au IND: INF:

1.01 M oz Au @ 0.98 g/t

3.17 M oz Au @ 0.89 g/t

Based on Geological Modeling Review this is what we are targeting

*MINERAL RESOURCE ESTIMATE FOR THE JUBY GOLD PROJECT

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FOUR GOLD

DEPOSITS HYRDO CREEK BIG DOME GOLDEN LAKE JUBY

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RTDZ – WHAT DOES IT LOOK LIKE? Deformation - Shearing - Folding

JUBY

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HYDRO CREEK

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Value Add Drivers 2026 ➢ Exploration Drilling

➢ Target to add 1 million ounces of

Visible Gold Cluster – Drilled Jan 2026 20 occurrences of Visible Gold.

6.58 gpt over 10.3 m contained in 3.32 gpt of 22.3 m - all within 33m of surface

resources ➢ 13,000 Meters of drilling – Largest

program every on this site ➢ Updated Resource Estimate ➢ Scoping Study/ PEA ➢ Prep Work for Bulk Sample – Environmental baseline study CSE: MLM

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More Gold – Exploration Plan 2026

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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 potential to add 500k - 700k ounces CSE: MLM

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Juby West – potential to add 50k - 75k ounces

Juby East – potential to add 200k - 400k ounces

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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 Au

D

C – Juby Mining

C

Lease Grabs up to 17.60 g/t Au

PARALLEL STRUCTURES?

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A

2.5km

D – What is under the glacial sand and gravel 14

Our Announcement March 2/26 Drilling at Golden Lake Deposit intercepts 95.4 meters at 1.34 g/t gold, including 56 m of 1.92 g/t gold and 9.9 m of 3.22g/t gold

Mineralized envelop at 826 zone extends to 300 meters

Added additional drilling capacity

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Our Announcement March 2/26 Section looking Northwest on Golden Lake Deposit

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Our Announcement March 2/2026 Isometric looking East at the 826 Zone

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Exploration - Focused On Adding Gold Ounces Annoucement January 2026 – 826 Zone

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Drilling at Golden Lake Depost February 2026

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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

750m

~300 m

Open at depth & along strike CSE: MLM

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0.25 g/t Au cutoff

1 Km 20

HIGH GRADE OPEN PIT POTENTIAL – EARLY ORE SHIPPING Over 1 million ounces of HIGH-GRADE GOLD within open pit shells Resource Classification

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Cut-Off Au g/t

indicated

1.25

2.09

indicated

1.50

2.34

indicated

1.75

2.62

indicated

2.00

2.94

indicated

2.25

3.26

indicated

2.50

3.52

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Contained Resource Cut-Off Metal Au Oz Classification

479,000 399,000 321,000 254,000 202,000 170,000

Au g/t

inferred

1.25

2.11

inferred

1.50

2.41

inferred

1.75

2.74

inferred

2.00

3.10

inferred

2.25

3.40

inferred

2.50

3.81

Contained Metal Au Oz

1,081,000 883,000 705,000

OVER 3 G/T GOLD

567,000 477,000 380,000 21

Next Steps -The Path to Developing Ontario's Next Gold Deposit 2025 Q3 Q4 ✓ Acquisition + 43-101 update (completed)

✓ Drilling by Dec 2025 (permit received, drilling commenced) ✓ Sale of properties to generate $9.25 million

(completed) ✓ Baseline Water Study (commenced)

✓ Permit Applications – Advanced Exploration

2026 2026 Q1 Q2 ➢ Complete Phase 1 Infill & Q3 Q4 2027 exploration 10-15k meter ➢ Commence Phase 2 Infill Q1 Q4 diamond drill program and expansion drilling (2000 m drilled) • Prepare for Feasibility ~15-20k meters ➢ Exploration agreement with First Nations ✓ Bulk sample ore shipping ➢ Advanced Exploration ➢ Commence 8000m Agreement & Closure plan historic drill core ✓ Final option on Plant size permitting sampling program ➢ Advanced Exploration (2000 m sampled) agreement with FN’s ➢ Scoping study + update resource statement

➢ Continue Baseline Environmental Study ✓ Marketing (commenced) ➢ Digital Marketing cont’d CSE: MLM OTCQB: MLMLF

➢ Milling agreement ➢ Prepare for Mining Bulk sample ➢ Marketing and Financing 22

Capital Structure Aris Mining owns 19.5% of common shares As of Nov 2025

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Shares Outstanding

423,000,000

Warrants

102,000,000

Options

59,625,000

Fully Diluted

580,625,000

Market Capitalization

$55 M

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Investment Opportunity Where we play Company

Project

Market Cap ($M)*

EV ($M)

Resource (Moz Au)

Market Cap/Oz

55

54

4.18

13

Moss Gold (Ontario)

686

370

6.15

111

Fenn-Gib Gold (Ontario)

355

300

4.4

80

Chibougamau* * (Quebec)

294

287

3.54

83

Juby Gold (Ontario)

*As of 3:00pm; 2026-2-19 “CEO.ca”

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GREATLY UNDERVALUED OPPORTUNITY FOR GOLD INVESTING

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Sold for $375 M

Sold to IMG $375M (2025-10-20) 24

APPENDIX 1

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Proven Management Team LED BY A TEAM WITH EXPERIENCE

Brad Boland

Winston Whymark

Andrew McLellan, MSc

President, CEO, Chair of Board

CFO, Secretary

Manager Exploration

Senior Geologist

Over 30 years of experience in mining and metals processing. Former Senior Executive in Falconbridge and Xstrata Nickel. Managed operations in mining, milling, smelting and refining.

Over 25 years of experience in the resource industry, holding positions such as VP Finance for Goldcorp, VP Controller for Kinross, CFO for Consolidated Thompson Iron Mines, and he is currently the CFO for Kiboko Gold Inc. and Volta Metals Ltd.

Winston has worked in exploration for over 15 years, most of that time spent in gold exploration in management roles. He is manager of operations for Inventus Mining and was formerly Exploration Supervisor for Argonaut Gold.

Mark Trevisiol

Past CEO of two public mining companies, Crowflight Minerals and Silver Bear Resources.

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Andrew is a geologist with 15 years experience working in the Abitibi Greenstone belt focused on gold exploration. He has spent time working for Glencore, Trelawney Mining and Exploration, Baffinland Iron Mines, and various gold exploration companies.

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Experienced Board

Perry Dellelce Director

Mr. Dellelce is a founder and the managing partner of Wildeboer Dellelce LLP, one of Canada’s leading corporate finance and transactional law firms. Mr. Dellelce practices in the areas of securities, corporate finance, and mergers and acquisitions.

Mr. Dellelce serves on the boards of many of Canada’s leading businesses, including but not limited to Mount Logan Capital Inc. and Lendified Inc. Mr. Dellelce is the past chair and a current member of the board of directors of the Sunnybrook Foundation and the current chair of the NEO Exchange Inc. and Canadian Olympic Foundation. Mr. Dellelce holds a BA from Western University, a LLB from the University of Ottawa, and an MBA degree from the University of Notre Dame.

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Amanda Fullerton Director

Ms. Fullerton has been the Vice President, Legal & Corporate Secretary of GCM Mining Corp. since March 25, 2019. She also has been the Corporate Secretary at Denarius Silver Corp. since February 2021. She was a Vice President, Legal (and prior thereto, Associate, Legal) of Macquarie Capital Markets Canada Ltd. From March 24, 2014, to March 22, 2019.

Prior thereto, Ms. Fullerton was an associate with Fasken Martineau DuMoulin LLP from September 2008 to March 2011 and MacLeod Dixon LLP (now Norton Rose Fulbright LLP) from March 2011 to March 2014 and practiced in the areas of corporate finance, mergers and acquisitions and corporate/commercial law, focused primarily on the mining industry.

Deborah Battiston Director

Ms. Battiston is a CPA and an ICD.D (“Institute of Corporate Director’s Director”) obtained from the University of Toronto’s Rotman School of Management. Ms. Battiston also holds a BA in Economics from the University of Guelph. She has over 35 years of financial management experience, 24 of which are in the public company sector, with broad experience in the mining sector, having served as CFO and director of multiple mining companies.

Her mining experience includes CFO of QMX Gold Corporation through junior exploration into production in Val d’Or Quebec; Buffalo Coal Corp, an operating coal mine in South Africa; Afrique Gold, an operating gold mine in Côte d'Ivoire Africa; and Consolidated Thompson Iron Mines Limited, where she was CFO.

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Experienced Board Fergus Kerr Director

Mr. Kerr is a Professional Mining Engineer and is currently self-employed as a consultant. Mr. Fergus is a graduate of the Royal School of Mines and a mining engineer with over 35 years of experience, including 14 years at Denison Mine’s Elliot Lake uranium mine, where he served as a General Manager for five years. Subsequent to Denison, Mr. Kerr served as Sector Director at Workplace Safety & Insurance Board, and Mine Manager, Sudbury Operations at Inco LLC Area Manager at Inco’s Sudbury operations.

Mr. Kerr is a sought after health and safety specialist consulting globally with recent assignments in Mongolia, Indonesia, and Australia.

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Dario Zulich Director

Mr. Zulich is an accomplished entrepreneur and community leader who has made significant contributions to the sports and entertainment industry as well as to the business and philanthropic communities in Northeastern Ontario. As the owner of the Sudbury Wolves Hockey Club, Mr. Zulich in his role as CEO of SW Sports and Entertainment Inc., directs a diverse portfolio of businesses, which include the Sudbury Wolves Hockey Club, the Sudbury Five Basketball Club, and the Sudbury Spartans Football Club. Under his leadership, these entities have become an integral part of the local sports scene, providing entertainment and inspiration to fans of all ages.

Roger Emdin P.Eng Director

30+ years of senior management and operating roles with large producing mines.

Diverse experience including Mine Engineer, Mine Manager, and Manager Sustainable Development for Sudbury Integrated Nickel.

Vice President, Harte Gold through bulk sample and mine development.

10 years as the Industry Chair for the Mining Legislative Review Committee of Ontario and Chair of the Board of CEMI.

Prior to his success in the sports and entertainment industry, Mr. Zulich was formerly the CEO of TESC Contracting Limited (“TESC”) for nearly two decades and he currently remains a partner in the business today. During his time as CEO, he helped to establish TESC as one of Ontario’s largest industrial contracting businesses, specializing in multi-trade construction services for mining & metals, power generation, forest products, and power generation markets.

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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 unsampled drill core Phase 2 – Complete remaining 8000m of unsampled core.

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Table 2 – Gold Price Sensitivities (OP= Open Pit, UG= Underground, Mt= Millions tonnes, Moz= Millions Ounces, Au= Gold metal)

Gold Revenue Price Factor ($USD) (RF)

2250

RF 0.9

2500

RF 1.0

3000

RF 1.2

3750

RF 1.5

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Classification

Constraints

Cut-Off Grade (Au g/t)

Indicated Inferred Indicated Inferred Indicated Inferred Indicated Inferred

OP/UG OP/UG OP/UG OP/UG OP/UG OP/UG OP/UG OP/UG

0.25/1.90 0.25/1.90 0.25/1.85 0.25/1.85 0.25/1.45 0.25/1.45 0.25/1.15 0.25/1.15

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Tonnage (tonnes)

27,317,000 96,725,000 31,743,000 109,481,000 34,769,000 130,484,000 39,507,000 154,504,000

Grade Contained (Au g/t) Metal Oz

1.03 0.94 0.99 0.90 0.98 0.88 0.94 0.85

903,000 2,908,000 1,009,000 3,173,000 1,100,000 3,710,000 1,200,000 4,226,000

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Excellent metallurgy recoveries

Au Re c ove r y C ya n i d e + G r av i t y w i t h 25 microns

provides process plant optionality

Zone

Partical Size P80 mircon

Head Grade Au

Au Recovery Gravity

Au Recovery CN + Gravity

Juby Main

25

1.61g/t

14.55%

93.4%

Golde n Lake

25

1.69 g/t

20.1%

91%

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93.4%

91%

GOLD RECOVERY

GOLD RECOVERY

Juby Deposit

GOLDEN LAKE

OPPORTUNITY Pa s t t e s t i n g i n d i c a t e d t h e o p t i o n t o p r o d u c e a g o l d c o n c e n t ra t e ( i e n o c ya n i d e ) ( Data above is considered historical see note regarding historical estimate referenced herein**)

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Top 10 Drill Hole Intersections that make JUBY Golden (Data below is considered historical see note regarding historical estimate referenced herein**)

GT

Hole ID

From (m)

To (m)

Length

Au g/t

(grade x thickness)

Deposit

G05-22

199.20

202.64

3.44

130.06

447.41

Big Dome

GL-18-44

100.00

138.40

38.40

10.01

384.38

Golden Lake

JU-13

204.00

220.50

16.50

21.69

357.89

Juby

G98-09

271.10

272.00

0.80

261.24

208.99

Big Dome

(G98-09)

JU-03-28

23.65

93.00

69.35

2.77

192.16

Juby

1,097.07 g/t Au over 0.40m

G05-23

374.89

382.60

7.71

22.97

177.10

Big Dome

JU-03-11

232.60

348.50

115.90

1.43

165.73

Juby

HC-02

159.70

218.40

58.70

2.68

157.32

Hydro Creek

GL21-69

300.40

392.40

92.00

1.63

149.96

Golden Lake

JU-10-105

628.25

745.00

116.75

1.21

141.27

Juby

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High Grade Potential 2,934 g/t Au over 0.07m

(G05-22)

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Prolific Abitibi Greenstone Belt

>200 Moz Au

JUBY PROPERTY

Excellent access to infrastructure and experienced

workforce CSE: MLM

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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, 2025.

3. The 2025 resource models used ordinary kriging (OK) grade estimation within a threedimensional block model with mineralized domains defined by wireframe solids.

4. Mineral resources are constrained within pit shells (OP) and Underground Shapes (UG) 5. Open pit cut-off of 0.25 g/t Au milled is based on the cost/tonne ($USD/t) milled for incremental mining, processing, and G&A 6. Underground cut-off of 1.85 g/t Au milled is based on the cost/tonne ($USD/t) milled for incremental mining, processing, and G&A 7. The 0.25 g/t Au cut-off for OP and the 1.85 g/t Au cut-off for UG used for reporting is based on the following: a. Long term Gold price of US$2,500/oz b. Metallurgical recoveries are based on metallurgical testing recovery of 92% c. Average Bulk density (specific gravity) was determined for each lithology and/or mineralized domain within the deposit d. Processing costs of USD$11.00/t, G&A costs of USD$4.00/t, and Tailings Fee of USD$2.00/t milled e. Dilution of 5% for OP, and 10% for UG f. Overall Pit Slope angle of 47 degrees 8. Mineral Resources that are not mineral reserves do not have economic viability. Numbers may not add due to rounding.

9. The resource estimate was prepared by Todd McCracken, P.Geo, of BBA E&C Inc. in accordance with National Instrument 43-101 standards of Disclosure for Mineral Projects

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SHINING TREE GEOLOGY Ridout-Tyrrell

JUBY PROPERTY

Deformation Zone (RTDZ)

Porcupine

Assemblage 2690-2680 Ma Sediments and Felsic Intrusions CSE: MLM

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CROSS-SECTION

1.20 g/t Au over 47.70m

1.12 g/t Au over 37.38m

1.38 g/t Au over 42.41m

1.23 g/t Au over 75.13m

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1.14 g/t Au over 94.04m

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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

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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 Initiatives

• Planning commenced for future regulatory processes (EA/IA) • Environmental baseline studies to be planned

Archaeology

• Upcoming Stage Archaeology

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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)

Resources

Cut-Off Constraints Grade (Au g/t)

Grade (Au g/t)

Contained Metal (Moz)

Indicated

OP

0.25

30.78

0.94

0.93

Indicated

UG

1.85

0.96

2.66

0.08

OP/UG

0.25/1.85

31.74

0.98

1.01

Inferred

OP

0.25

105.79

0.83

2.81

Inferred

UG

1.85

3.69

2.86

0.36

OP/UG

0.25/1.85

109.48

0.89

3.17

Total Indicated

Total Inferred CSE: MLM

Tonnage (Mt)

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Juby Gold Project Ontario Site Infrastructure Concept ( Data below is considered historical see note regarding historical estimate referenced herein**)

What would it look like?

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