February 23, 2023
By Harfang Exploration

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February 23, 2023 – Montreal, Québec. Harfang Exploration Inc. (“Harfang” or the “Company”) (TSX-V: HAR) is pleased to announce that it has commenced its first diamond drilling program on the Lake Menarik Gold Property (“Property”) in Eeyou Istchee James Bay, Québec (Figure 1). The Property, located 45 kilometres south of the Radisson locality, consists of 304 claims (15,627 ha) and is 100% owned by Harfang.

This maiden phase of drilling by Harfang consists of approximately eighteen (18) shallow drill holes for an expected total of 3,500 metres. The program will test a variety of targets developed from work completed during the 2018 and 2022 field campaigns, past and ongoing Induced Polarization [“IP”] geophysical surveys, and recent geological reassessment of the Property.

Most holes are planned on the gold-enriched monzonite intrusion (the “Pierre monzonite”) to test for lateral and vertical extensions of gold intervals obtained in historic shallow drilling (maximum vertical depth of 100 metres) that yielded up to 0.89 g/t Au over 68.25 m (Pierre showing) and in surface channel sampling with results up to 12.46 g/t Au over 3.6 m (Gordie showing) (Figure 2).

Several holes will test northeast-southwest structural lineaments that are interpreted to represent splays off a prominent structure known as the Lake Menarik Fault (Figure 2). These lineaments include an extensive untested structure associated with IP chargeability anomalies delineating the northern edge of the Pierre monzonite and mafic volcanic rocks. This latter rock unit hosts several high-grade gold occurrences, including the Massé showing with 1,918 g/t Au (61.7 oz/t Au) from grab sampling. A second important structure, highlighted from a detailed airborne magnetic survey and also associated with IP anomalies, corresponds with the contact between volcano-sedimentary rocks and the overlying Timiskaming-type conglomerate.

2023 Induced Polarization Survey

The ongoing survey, approximately 40 linear kilometres, covers the eastern and southern portions of the Pierre monzonite area and deformation corridors between volcano-sedimentary rocks and the Timiskaming-type conglomerate (Figure 2). The survey will also test the main massive ankerite alteration zone discovered in 2022 and hosted in a major shear zone at least 700 metres long and 50 metres wide (see news release dated January 12, 2023). Drill holes could be implemented along this ankerite-rich shear zone locally anomalous in gold. The most recent prospecting program has confirmed the gold potential of the eastern part of the Property with grab sampling up to 17.30 g/t Au, 217 g/t Ag and 0.61% Pb in gabbro-hosted quartz veins (Oswald showing). These discoveries indicate extensions to the northeast of structural lineaments cutting through the Pierre monzonite.

Geological Setting

The 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 the Property is reminiscent of that of the Timmins Camp based on the occurrence of gold-bearing monzonite/syenite intrusions, volcanic and sedimentary rocks including a Timiskaming-type conglomerate, and lamprophyres.

Qualified Person

The technical information in this news release was prepared and approved by François Huot, P.Geo, 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 (“NI43-101”).

About Harfang Exploration Inc.

Harfang Exploration Inc. is well financed with approximately $8.24 M in the treasury as of October 31, 2022 and is a technically driven mineral exploration company with the primary mission to discover ore deposits in Québec and Ontario. The Company is managed by an experienced team of industry professionals with a proven track 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.

On behalf of the Board of Directors and for further information, please contact:

Ian Campbell

President and Chief Executive Officer

Tel: 647 680-3820



Cautionary Statement Regarding Forward-Looking Information

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Harfang believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Harfang disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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