Hemlo Explorers Announces Project Idaho Exploration Permit and Exploration Agreement with Biigtigong Nishnaabeg First Nation
TORONTO, Sept. 28, 2022 - Hemlo Explorers Inc. (the "Company") (TSXV: HMLO) is pleased to announce that it has received its exploration permit for Project Idaho from the Ministry of Mines, Natural Resources and Forestry.
The Company also confirms that it has executed an Exploration Agreement (the "Agreement") with Biigtigong Nishnaabeg ("Biigtigong") which covers exploration on Project Idaho and the Pic Project, which was optioned to a subsidiary of Barrick Gold Corporation in August 2022.
This Agreement allows for the Company to move forward expeditiously with its exploration plans. Key highlights of the Agreement as they pertain to the Company are as follows:
- The Company recognizes that its mining claims are in the Aboriginal title area of Biigtigong;
- Biigtigong recognizes the Company's right to explore its mining claims with certainty and stability. Biigtigong have also agreed to cooperate with the Company in the completion of those activities;
- The Company also agrees to engage with Biigtigong's members and companies wherever possible;
- The Company has agreed to keep Biigtigong advised of all exploration plans and activities; and
- The Company has also transferred the mining claims known as "Hemlo West" to N'hinmaagewin Ltd., a company owned by Biigtigong. Biigtigong plans to work diligently to make this claim area part of its reserve lands for the use of their traditional activities. Until the legal change occurs, the Company will maintain a 5% net smelter returns royalty on the claims.
Mr. Brian Howlett, CEO of the Company stated, "Hemlo Explorers is very excited to have executed this Agreement as it gives us certainty with respect to moving forward with Project Idaho over the long term. We have completed a significant amount of work over the summer exploration season and are confident that the project has the potential to become an interesting exploration opportunity with mineralization related to that of the Coldwell Complex. The Coldwell Complex is host to Generation Mining's Marathon Palladium Copper deposit."
The Chief of Biigtigong Nishnaabeg, Duncan Michano, commented, "We are very pleased to have executed this Agreement with Hemlo Explorers Inc. This Agreement upholds our band's responsibilities to future generations in regard to our territory and to the resources found therein. Biigtigong Nishnaabeg is committed to providing regulatory certainty and clarity to proponents within the mining sector who wish to work within our territory. We encourage proponents within the mining sector to work directly with First Nations, as was the case with Hemlo Explorers, as part of their process of regulatory due diligence."
Technical Information
Mr. Adrian Bray, P.Geo., Exploration Manager 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.
Neither 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.
About Hemlo Explorers Inc.
Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of projects in Ontario and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area, including Project Idaho, the Pic Project and the North Limb.
For more information please contact:
Brian Howlett, President & CEO
Hemlo Explorers Inc.
brian@hemloexplorers.ca
+1 (647) 227-3035
http://www.hemloexplorers.ca
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the Company's plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Hemlo Explorers Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing, exploration risk and COVID-19 pandemic related orders. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
