Mr. Vincent Dube-Bourgeois reports

HARFANG ANNOUNCES LITHIUM DISCOVERY AT SERPENT-RADISSON, QUEBEC

Harfang Exploration Inc. has made another lithium (Li) discovery at its wholly owned Serpent-Radisson property in Eeyou Istchee James Bay in Quebec. The discovery of spodumene crystals in pegmatite dikes, named Milou, is located approximately 1.8 kilometres northeast of the Ameliane lithium showing.

Highlights:

• Results suggest potential for stacked pegmatite dike system: The Milou discovery suggests a possible series of southeast shallow-dipping and subparallel spodumene-bearing pegmatite dikes (a stacked system). Testing this hypothesis will require investigating the potential 400-metre-to-500-metre-wide corridor (true thickness), increasing the likelihood of additional lithium discoveries on the property.
• Milou delivers high-grade lithium samples up to 2.97 per cent Li2O: Grab samples from the Milou discovery that were collected from numerous exposed pegmatite dikes returned assay results highlighted by 2.97 per cent Li2O, 2.17 per cent Li2O and 2.03 per cent Li2O.
• Early results from summer, 2024, exploration program are positive: The company has received and processed the first batch of assay results from the summer, 2024, exploration program in Eeyou Istchee James Bay program, which has confirmed the discovery of new lithium-bearing pegmatites.

"This is a significant development for our exploration efforts in the James Bay region," commented Vincent Dube-Bourgeois, interim president and chief executive officer. "The Milou discovery expands the mineralized system further north and provides additional insight into the potential stacking of spodumene-bearing pegmatite dikes. Our team is highly encouraged by these results and we look forward to advancing our understanding of the region's lithium potential."

Potential for hidden lithium mineralization in the stacking zone

The Milou discovery, located approximately 1.8 kilometres (km) to the northeast of the Ameliane showing, could represent the northern extension of a large lithium-pegmatite system. Field observations at Milou include a similar strike and dip to Ameliane, which reinforce the evidence of the possible stacking of shallow-dipping and subparallel spodumene-bearing pegmatite dikes, as previously suggested by Harfang (see news release dated Dec. 6, 2023).

The two pegmatite trend projections are approximately 1,000 metres apart on surface, indicating the presence of a zone measuring 400 metres to 500 metres wide (true thickness) that may host multiple spodumene-bearing dikes. The pegmatites observed and tested are highly fractionated and beryllium-rich -- a favourable magmatic setting for mineralization.

This potential stacking zone offers encouraging exploration opportunities for hidden lithium mineralization, comparable in width with the 500-metre-wide corridor at Patriot Battery Metals Inc.'s CV5 Shaakichiuwaanaan (formerly Corvette) deposit.

High-grade lithium at Milou

Grab samples from the Milou lithium discovery returned grades up to 2.97 per cent Li2O (13,800 parts per million (ppm) lithium (Li)), including four samples exceeding 2.00 per cent Li2O and three additional samples over 1.30 per cent Li2O. The attached table shows selected assay results from the Milou discovery above the threshold for lithium showings of 0.25 per cent Li2O. These samples were collected in the early phase of the summer program. Note that grab samples are selective by nature and may not represent average grades.

Concentration of spodumene crystals in highly fractionated pegmatites

Spodumene crystals range from 2.5 to 25 centimetres (cm) in length, with concentrations up to 30 per cent. Small beryl crystals are also present alongside the spodumene. The pegmatite dikes are exposed irregularly over a cumulative length of approximately 100 metres, trending in an east-northeast direction and dipping approximately 25 degrees to 30 degrees to the southeast. The dikes are estimated to be approximately five metres thick. Field analyses performed on muscovite crystals using a handheld X-ray fluorescence (XRF) instrument indicates similarly low (less than 15) potassium/rubidium ratios to Ameliane, typically associated with fertile pegmatites.

Additional beryllium (Be), cesium (Cs) and tantalum (Ta) discoveries

Four beryllium showings have been discovered in the southeast pegmatite field at Serpent-Radisson, with grades up to 1.27 per cent Be. Cesium values reached up to 597 ppm in a pegmatite located approximately 200 metres west of the Ameliane showing. Farther south, tantalum results were as high as 1,404 ppm Ta2O5 (1,150 ppm Ta).

Successful early phase of the 2024 exploration program

Initial summer, 2024, prospecting at the Serpent-Radisson property has resulted in discoveries of critical and strategic elements, including lithium and beryllium, in pegmatite dikes. This news release highlights the highest lithium grades obtained from 108 rock samples collected during the first 115 days of the summer program and analyzed by ActLabs in Val d'Or.

Sampling protocols and quality control

Each rock sample collected in the field was identified and sent to ActLabs (Val d'Or, Que.), a certified commercial laboratory, to be analyzed for lithium and a suite of other chemical elements. These samples were prepared using the RX1 method and analyzed by ICP-OES (inductively coupled plasma-optical emission spectroscopy) and ICP-MS (inductively coupled plasma-mass spectrometry) (UT7) for 55 elements, including Li (15 ppm -- 5 per cent) following a sodium (total) peroxide fusion. Overrange assays for beryllium were reanalyzed using the eight-peroxide ICP-OES method. A strict QA/QC (quality assurance/quality control) procedure was implemented, with one certified reference material (CRM) and one blank sample inserted into the sample stream for every batch of 50 samples.

Qualified person

Ludovic Bigot, PGeo, vice-president of exploration of Harfang, has prepared and approved the technical information contained in this news release. Mr. Bigot is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects.

About Harfang Exploration Inc.

Harfang is a well-financed 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 and controls a portfolio of highly prospective projects. Harfang is dedicated to best practices through engagement with all stakeholders and a commitment to the environment.

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