McFarlane Lake Mining Limited has updated its Mineral Resource Estimate for the Juby Gold project in Ontario, lifting inferred gold resources by 59% and indicated resources by 13% compared to its previous position.

The updated estimate, effective August 14, 2026, calculates inferred resources at 5.06 million ounces of gold at an average grade of 0.87 grams per tonne across 180.67 million tonnes, using a long-term gold price of US$3,600 per ounce. Indicated resources now stand at 1.14 million ounces at 0.95 grams per tonne across 37.17 million tonnes.

This compares with the previous Mineral Resource Estimate effective September 29, 2025, which reported 3.17 million inferred ounces at 0.89 grams per tonne across 109.48 million tonnes and 1.01 million ounces of indicated resources at 0.98 grams per tonne across 31.74 million tonnes, based on a base gold price of US$2,500 per ounce.

The revised figures follow approximately 13,000 metres of new exploration drilling completed since McFarlane Lake acquired the property through an agreement with Aris Mining Holdings Corp. finalized on September 29, 2025.

The latest campaign includes 2,200 metres of drilling that established a new pit-constrained inferred resource at the 826 Zone, containing 1.82 million tonnes at 1.29 grams per tonne gold. The company noted that the 826 Zone demonstrates a higher inferred gold grade than its other deposits and remains entirely within 150 metres of surface.

“We are extremely happy with the significant increase in gold resources on the property, after only 7 months of drilling,” says Mark Trevisiol, CEO and Chairman of McFarlane Lake Mining, adding, “our drilling program has not only added resources to existing deposits but the new gold resource at our 826 Zone opens up the large southwestern area of our property where previously no gold resources were defined.”

— Mark Trevisiol, CEO and Chairman of McFarlane Lake Mining

McFarlane Lake Mining will file the full National Instrument 43-101 technical report for the updated resource estimate on SEDAR+ within 45 days of the August 18, 2026 announcement.

Exploration drilling continues at the project, with upcoming work focusing on additional ounces and infill targets designed to convert inferred resources into the indicated category.

Read the full announcement: McFarlane Increases Gold Mineral Resources on Its Juby Gold Project