McFarlane Lake Pays Down Debt

TORONTO, July 28, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF) is pleased to announce that, further to its news release dated July 6, 2026, it has given notice to Odyssey Trust Company (the “Trustee”) and to the holders of the Debentures (the “Debentureholders”) of the partial redemption of US$10,960,534 of the remaining US$12,655,531 aggregate principal amount of 15% senior secured debentures maturing October 26, 2026 (the “Debentures”), leaving approximately US$1,695,000 remaining outstanding. The effective date of the redemption is expected to be Friday, July 31, 2026 (the “Redemption Date”). The Trustee will administer the redemption process in accordance with the trust indenture dated September 29, 2025 between the Company and the Trustee. As previously disclosed, the Company applied the funds received from the exercise of warrants (announced July 6, 2026), together with the proceeds of the C$6,750,000 private placement (announced on June 5, 2026) and existing cash resources of the Company, towards a redemption of Debentures held by the Debentureholders who participated in the exercise process (the “Exercise Process”). The partial redemption received the approval of Debentureholders holding a majority of the principal amount of the Debentures, and consent to the redemption of Debentures held by Debentureholders that participated in the Exercise Process was obtained from all Debentureholders that did not participate in the Exercise Process.