McFarlane Lake Mining Sells Properties to Focus on Juby Gold Project

McFarlane Lake Mining Limited has announced a binding agreement with Total Metals Corp. to sell its High Lake and West Hawk Lake gold properties for approximately C$9.25 million. The divestment supports McFarlane's strategic focus on acquiring the Juby Gold Project. Total Metals will pay C$7.25 million in cash and C$2 million in shares for the properties.

The agreement depends on Total Metals raising the necessary cash and securing regulatory approvals. The transaction is anticipated to close by October 31, 2025, pending these conditions. McFarlane Lake is amending its private placement terms to raise up to C$12.5 million, funding the Juby Project acquisition.

This move aligns with McFarlane Lake's intention to concentrate efforts on advancing exploration at the Juby Gold Project, while transferring High Lake and West Hawk Lake to a dedicated team poised for further development.