Mr. Brian Howlett reports

HEMLO EXPLORERS RECEIVES EXPLORATION PERMITS AND PREPARES FOR DRILL PROGRAM

Hemlo Explorers Inc. has received its exploration permit for Project Idaho from the Ontario Ministry of Mines. The company would like to recognize the Biigtigong Nishnaabeg First Nation for its co-operation and support of the permitting process.

The company, after a very productive 2022 exploration season, will begin a drill program in late June, 2023. Exploration results from airborne VTEM (versatile time-domain electromagnetic) geophysics, prospecting, mapping, geochemical soil sampling, grab sampling and rare earth element geochemical analysis combined to inform an extensive targeting exercise. Soil and rock geochemistry from 2022 field surveys align with geophysical signatures, VTEM and a north-to-south linear magnetic low, which is analogous to the Marathon palladium-copper deposit setting. A Coldwell complex/Archean boundary is interpreted along this magnetic-low trend, favourable for gabbroic palladium-copper deposition.

Phase 1 of the drill program for 2023 will focus on the priority targets along the north-south-trending VTEM anomaly on the western side of Project Idaho, within the boundary of the Coldwell complex and proximal to Generation Mining's Marathon palladium-copper project.

The company also intends to begin a prospecting and mapping program on the eastern side of Project Idaho, where further VTEM anomalies were identified in 2022. The program will initially consist of prospecting, grab sampling and mapping.

Brian Howlett, chief executive officer of the company, commented: "We are very fortunate to be working in between the long-lived Hemlo gold mine and an exciting new mine development at Generation Mining's palladium-copper project. We consider our package of about 31,000 hectares of claims to contain some of the most prospective geology in the area as it is the transition area between the Coldwell complex and the gold-rich Archean, where many regional faults criss-cross. We are very excited to begin our maiden drill program to test the western VTEM targets that represent an analogue to nearby Generation Mining's Marathon palladium-copper project."

Technical information

Dr. Lesley Rose, PGeo, senior exploration geologist for the company, is the qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, responsible for the accuracy of technical information contained in this news release.

About Hemlo Explorers Inc.

Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. The company is focused on generating shareholder value through the advancement of Project Idaho and its Pic project option with Barrick Gold Inc.

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