McFarlane Lake Announces Proposed Strategic Investment in iMetal Resources, Inc.

TORONTO, Aug. 05, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to announce that it has entered into a subscription agreement (the “Subscription Agreement”) with iMetal Resources, Inc. (TSXV: IMR, OTC: IMRFF, FRA: A7VA) (“iMetal”), a Canadian-based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec, pursuant to which the Company has agreed to make a strategic investment (the “Strategic Investment”) in iMetal. Pursuant to the Subscription Agreement, the Company has agreed to purchase 14,200,852 units of iMetal (“Units”) at a price of $0.10 per Unit for an aggregate subscription price of $1,420,085. Upon completion of the Strategic Investment, the Company is expected to beneficially own 19.9% of iMetal’s issued and outstanding common shares (“iMetal Shares”). The Strategic Investment is being completed pursuant to iMetal’s previously announced non-brokered private placement consisting of up to 30,000,000 Units at a price of $0.10 per Unit for aggregate gross proceeds of up to $3,000,000.