McFarlane Lake Mining to Conduct Its Annual General Meeting on March 6, 2023

Toronto, February 27, 2023 - McFarlane Lake Mining Ltd. (NEO: MLM) (OTCQB: MLMLF) ("McFarlane" or the "Company"), a Canadian mineral exploration and development company, is announcing today that it will conduct its in-person 2023 Annual General and Special Meeting ("AGM") at 1:00 p.m. Eastern Time on Monday, March 6, 2023, at Wildeboer Dellelce Place, 365 Bay Street, Suite 800, Toronto, Ontario, M5H 2V1.

Shareholders of record as of January 13, 2023, will be able to vote their shares on the proposals to be considered at the AGM either at the meeting or by proxy in advance of the meeting. Proxies must be received by 1:00 p.m. Eastern Time on March 2, 2023.

As well as conducting the business of the AGM, management will provide a presentation regarding recent progress at its High Lake and West Hawk Lake properties and offer the opportunity for investors to ask questions.

The Company recently announced several promising drilling results at its High Lake property. Two holes, MLHL-22-06 and MLM-22-17, were the top 4 and the top 3 intersections on Junior Mining Hub for the week of January 13, 2023, and the week of February 10, 2023, respectively.

Mark Trevisiol, Chairman and CEO of McFarlane, said, "We are excited to be holding our first Annual General Meeting as a company. We have made significant progress in the past year and are thrilled to be able to share details regarding our recent developments and the potential that lies ahead. We look forward to engaging with our shareholders at the AGM and hearing their thoughts."

About McFarlane Lake Mining Limited

McFarlane is a mineral exploration company focused on the exploration and development of the High Lake mineral property located immediately east of the Ontario-Manitoba border and the West Hawk Lake mineral property located immediately west of the Ontario-Manitoba border. In addition, McFarlane holds the McMillan and Mongowin mineral property located 70 km east of Sudbury and owns the Michaud/Munro mineral property 115 km east of Timmins. McFarlane is a "reporting issuer" under applicable securities legislation in the provinces of British Columbia and Alberta.

Additional information on McFarlane can be found by reviewing its profile on SEDAR at Sedar.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including without limitation; anticipated results of geophysical surveys or drilling programs, estimated timing, geological interpretations and potential mineral recovery processes. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of McFarlane to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Filing Statement dated as of January 14, 2022 which is available for view on SEDAR at Sedar.com. Forward-looking statements contained herein are made as of the date of this press release and McFarlane disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

McFarlane's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

Further Information

For further information regarding this press release, please contact:

Roger Emdin, Chief Operating Officer
McFarlane Lake Mining Ltd.
(705) 562-8520
remdin@mcfarlanelakemining.com

Craig MacPhail
NATIONAL
(416) 525 5709
cmacphail@national.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156296