Mr. Ian Campbell reports

HARFANG CONFIRMS LITHIUM AND HIGH-GRADE TANTALUM AT ITS SERPENT-RADISSON PROPERTY, EEYOU ISTCHEE JAMES BAY, QUEBEC

Harfang Exploration Inc. has released analytical results from its lithium discovery, known as the Ameliane showing, hosted in highly evolved LCT (lithium-cesium-tantalum) spodumene-bearing pegmatites on the Serpent-Radisson property located in Eeyou Istchee James Bay, Quebec.

The property, consisting of 988 claims (50,843 hectares), is also host to over 50 high-grade gold occurrences discovered by the company since 2017. The property is located proximal to the La Grande-Opinaca subprovince boundary. The majority of the lithium and gold deposits in James Bay are located near such major boundaries.

Additionally, the field team has observed coarse-grained tantalite crystals in nearby pegmatites and outlined a greater than 15-square-kilometre corridor rated as high potential for additional discoveries based on in-field X-ray fluorescence (XRF) geoanalyses.

Highlights:

• Grab samples up to 2.61 and 4.56 per cent Li2O (lithium oxide) in outcrops at Ameliane showing;
• Possible stacking of shallow-dipping and subparallel spodumene-bearing pegmatite dikes identified laterally over 300 metres at Ameliane;
• Grab samples with high-grade tantalum up to 21,000 parts per million Ta (2.56 per cent Ta2O5 (tantalum pentoxide)) and greater than 25,000 ppm Ta (greater than 3.05 per cent Ta2O5);
• Prospective zone (greater than 15 square km) for additional discoveries of lithium based on the chemical composition of muscovite in pegmatites.

Ian Campbell, president and chief executive officer, commented: "The discovery of the Ameliane showing and several other spodumene-bearing LCT pegmatites is very encouraging and we have validated the high potential of the area for additional discoveries. It is a credit to our team who has previously discovered numerous high-grade gold occurrences outlining a large gold-in-bedrock anomaly beginning near the Ameliane pegmatites and extending westward for over 15 kilometres. We are well financed with over $5.7-million in the treasury and are looking forward to advancing our extensive gold and lithium portfolio of projects."

Ameliane showing area

The discovery area, known as the Ameliane showing, consists of several spodumene occurrences in pegmatite outcrops and boulders (see news release dated Sept. 13, 2023). The actual news release discloses the best lithium grades obtained from 145 rock samples sent to ALS (Val d'Or) following the fall program. The grab sample results are highlighted by values up to 1.53, 2.61 and 4.56 per cent Li2O. One sample with 7.36 per cent Li2O was collected to test the lithium content of a single grey spodumene crystal. The reader is cautioned that grab samples are selective by nature and may not represent average grades of the mineralization in the pegmatites.

A 20-metre-long channel grades 0.8 2 per cent Li2O over 20 metres, including 1.46 per cent Li2O over six metres and 1. 29 per cent Li2O over four metres. Note that the channel represents the continuity of the lithium mineralization along the exposed dike on the discovery outcrop rather than across its true width. The main dike strikes in a N070-degree direction and dips at approximately 25 degrees toward the southeast. The thickness of this dike is estimated at approximately five metres. The distribution of spodumene occurrences at Ameliane suggests that several shallowly dipping pegmatite dikes could be stacked.

Pegmatites in the area contain muscovite and biotite with accessory minerals such as tourmaline, garnet, beryl, spodumene, tantalite and apatite. Spodumene, hosting the lithium mineralization, consists of light grey to greenish elongated crystals ranging from centimetre size up to 1.40 metres in length. The spodumene content reaches up to 50 per cent locally at Ameliane.

Beryl crystals, up to 70 centimetres in length, are common in pegmatites at Serpent-Radisson. Their content reaches up to 10 per cent locally and more than 30 grab samples exceed 360 ppm beryllium which is the threshold value for a beryllium showing. Cesium is strongly correlated with beryllium values as both chemical elements are hosted in beryl. Beryl-bearing pegmatites commonly have elevated cesium values in the range of a few hundreds of ppm. One sample of pegmatite without beryl returned greater than 2.5 per cent cesium suggesting the presence of pollucite. Tantalite, a tantalum-rich oxide, was also observed in a few pegmatite occurrences. Two grab samples with coarse-grained tantalite crystals returned 2.1 per cent tantalum (2.56 per cent Ta2O5) and greater than 2.5 per cent tantalum (greater than 3.05 per cent Ta2O5). The pegmatite field at Serpent-Radisson has the potential to host lithium, tantalum, cesium and beryllium orebodies.

Field operations have identified a greater than 15 square km zone favourable for lithium. This zone, defined by low potassium/rubidium (K/Rb) ratios on muscovite as measured with a hand-held XRF instrument, stretches into a north-northeast-south-southwest direction and likely extends toward the Arwen lithium discovery on Midland Exploration's Elrond property. Future prospecting for critical and strategic minerals on the Serpent-Radisson property will be mainly deployed in that newly defined spodumene zone.

Future exploration program on Serpent-Radisson

Harfang is contemplating a drill program in 2024 in order to test the down-dip and lateral extent of the various dikes and the presence of potential stacked and unexposed dikes as part of its exploration strategy for critical and strategic minerals. The Mista copper-gold-silver showing located 1.5 kilometres to the southwest would also be drilled. Channel sampling across the Mista mineralized horizon, which has been traced laterally over 350 metres, previously returned up to 1 per cent Cu, 0.21 g/t Au and 7.9 g/t Ag over 12.9 metres. The mineralized horizon is coincident with a 700-metre-long induced polarization chargeability anomaly with the strongest chargeability segments hidden under the overburden cover. Chargeability axes are commonly caused by sulphide occurrences, including chalcopyrite, pyrrhotite and pyrite which are present at Mista.

Sampling protocols and quality control

Each rock sample was placed in a plastic bag with its own identification tag directly on the field. These samples were then placed in large bags and sent to ALS (Val d'Or, Que.) to be analyzed for lithium and a suite of other chemical elements. These samples were prepared with the PREP-31A method and analyzed by inductively coupled plasma mass spectrometry (ME-MS89L) following a sodium peroxide fusion (FUS-PER02p). One sample, exceeding the detection limit in lithium (2.5 per cent Li), was reanalyzed by inductively coupled plasma atomic emission spectroscopy finish (ME-ICP82b) following a sodium peroxide fusion (FUS-PER02). Sample preparation and analytical determination were performed in various ALS laboratories. No standards or blanks were inserted due to the early nature of the exploration program. The sampling procedures and the quality control followed protocols developed by Harfang and ALS.

Qualified person

The technical information in this news release was prepared and approved by Francois Huot, professional geologist and 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 $5.7-million in the treasury as of Dec. 5, 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.

We seek Safe Harbor.