Mr. Ian Campbell reports

HARFANG ANNOUNCES ITS SUMMER FIELD PROGRAM ON ITS GOLD AND LITHIUM PROPERTIES, EEYOU ISTCHEE JAMES BAY, QUEBEC

Harfang Exploration Inc.'s summer field campaign is set to begin on its portfolio of highly prospective gold and lithium properties in the Eeyou Istchee James Bay region, Quebec. With recent lithium discoveries, new advances in already existing resources, and the Quebec strategy on critical and strategic minerals (CSM), this region has taken centre stage for lithium exploration in Canada.

Commented Ian Campbell, president and chief executive officer: "We are ready and excited to initiate our $1.5-million summer 2023 exploration program that will focus on the exploration of our extensive portfolio of properties in James Bay, some of which have the potential to host both gold and lithium deposits. We are well positioned throughout the entire region in which our team has extensive operational experience. Our summer program will be a boots-on-the-ground approach, including both a geological and prospecting evaluation, combined with on-site geochemistry with the focused objective of rapidly developing high-priority drill targets on both gold and lithium projects. This program will begin as soon as the provincewide restrictions imposed by the Quebec government as a result of the regional forest fire situation are lifted. We are not aware of any of our projects being directly affected by these fires at this time and we are closely monitoring the situation."

Gold exploration program

Lake Menarik property

The Lake Menarik property is characterized by multiple high-grade gold occurrences hosted in a polyphase intermediate intrusion (syenite, monzonite and monzodiorite) and adjacent volcano-sedimentary rocks. The geological setting of Lake Menarik is reminiscent of that of the Timmins mining camp based on the occurrence of gold-bearing monzonite/syenite intrusions, volcanic and sedimentary rocks, including a Timiskaming-type conglomerate, and lamprophyres. The recently completed maiden shallow drill program that mainly focused on the Pierre monzonite area successfully demonstrated that wide zones of gold mineralization associated with increasing intensity of alteration extend at depth in the southeast area of the monzonite. These observations were highlighted by 21 metres grading 1.75 grams per tonne Au, including 14.1 metres grading 2.49 g/t Au (LMN-23-01), 75 metres grading 0.54 g/t Au, including three metres grading 6.75 g/t Au and one metre grading 12.65 g/t Au (LMN-23-04), and 47 metres grading 1.15 g/t Au, including seven metres grading 3.75 g/t Au (LMN-23-17) (see news release dated May 11, 2023).

The planned field campaign is designed to generate additional drill targets and will focus on advancing the overall understanding of the geological model east of the Pierre monzonite and several other target areas. These areas include the induced polarization (IP) anomalies hosted in the Timiskaming-type conglomerate, the Greco gold showing adjacent to mining claims acquired last fall (1.04 g/t Au over 24.9 metres (channel)), and the 2022 discoveries such as the Oswald showing (up to 17.30 g/t Au, 217 g/t Ag and 0.61 per cent lead (grab samples) and up to 6.34 g/t Au, 60 g/t Ag and 0.09 per cent Pb over 0.4 metre (channel)) and the ankerite zones (up to 2.87 g/t Au in grab samples) extending up to 700 metres long and 50 metres wide. This program will be enhanced by recent geophysical data from the IP survey and the detailed heliborne magnetic survey also flown over the contiguous Menarik East property. Harfang has also designed a till survey to cover the eastern part of the Lake Menarik property.

Lithium exploration program

Harfang will conduct a first-phase surface exploration program (prospecting, mapping, rock sampling) on its assets favourable for lithium occurrences. This program includes prospecting on the Serpent-Radisson and La Passe claims and on the new acquired Lemare, Ewart, Sakami, Ross and Conviac properties. These new assets were acquired by map designation following a recent geological compilation and a statistical processing of more than 13,400 analyses of lake bottom sediments extracted from the Quebec government digital database (SIGEOM) (see news releases dated on Jan. 19 and Feb. 8, 2023). The main objective of this program is to find lithium-cesium-tantalum pegmatite (LCT pegmatite) warranting more advanced exploration, including drilling. More detailed information is given below for the Serpent-Radisson, Lemare and Lake Menarik properties.

Serpent-Radisson property

In 2022, Harfang conducted a preliminary prospecting program in the southeastern portion of the property, already known for its gold and copper occurrences, to assess the potential for LCT pegmatite. The program quickly led to the discovery of several pegmatite dikes, some containing highly anomalous beryllium (up to 25,000 parts per million), cesium (up to 998 ppm), lithium (up to 1,420 ppm), niobium (up to 278 ppm), rubidium (up to 1,095 ppm) and tantalum (up to 173 ppm). The program for Serpent-Radisson will mainly focus on the follow-up on these discoveries since the company believes this area contains significant potential based on the presence of a fertile S-type granite located in the immediate area. In addition, the field crew will continue prospecting the property for gold, particularly in a large sector where 65 soil samples (up to 2.27 g/t Au) defined a gold anomaly covering 2.2 square kilometre (see news release dated Oct. 5, 2022).

Lemare property

The Lemare property consists of 269 claims located approximately 20 kilometres southeast of the Whabouchi lithium deposit owned by Nemaska Lithium. Nemaska recently signed a long-term agreement with the Ford Motor Company for the supply of lithium products, including lithium hydroxide, as North American automakers race to secure supplies of battery materials to meet the electric vehicle output. The Lemare property includes several strong lake bottom sediment lithium anomalies of which four are greater than or equal to 99.5th percentile of the entire SIGEOM database. Some of these calculated anomalies form a tight cluster in an area dominated by granite and pegmatite of the Opatica subprovince.

Lake Menarik property (southwestern part)

The southwestern portion of the Lake Menarik property, west of the Billy-Diamond Highway, was staked last fall for its lithium and gold potential. Harfang is planning prospecting on these claims that have seen little historical exploration. Known mafic volcanic rocks on the property offer a favourable geological setting for hosting lithium-bearing pegmatite. These volcanics are part of the same rock unit that hosts the Mia lithium occurrences located 25 kilometres to the southwest.

Actual forest fires situation

On June 3, the ministere des Ressources naturelles et des Forets du Quebec issued a news release prohibiting access to the forest on lands of the public domain and on the closure of roads for consideration of public interest.

The recent restrictions imposed by the Quebec government, as a result of the regional forest fire situation, have temporarily halted mining exploration operations in Northern Quebec. Harfang is actively monitoring the situation and will be back on the field when the restrictions will be lifted.

Qualified person

The technical information in this news release was prepared and approved by Francois Huot, PGeo, vice-president, exploration, of Harfang, who is a non-independent qualified person for the technical disclosure as defined by the National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Harfang Exploration Inc.

Harfang Exploration is well financed with approximately $7.4-million in the treasury as of March 31, 2023, and is a technically driven mineral exploration company with the primary mission to discover ore deposits in Quebec and Ontario. The company is managed by an experienced team of industry professionals with a proven record of success, controls a portfolio of highly prospective projects and has a strong financial position. Harfang is dedicated to best practices through engagement with all stakeholders and commitment to the environment.

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