Harfang Confirms and Expands High-Grade Gold Footprint at Serpent, Québec

MONTREAL, Nov. 20, 2024 - Harfang Exploration Inc. ("Harfang" or the "Company") (TSX.V: HAR) is pleased to report additional high-grade gold results from its fall channel sampling program along the Nusa Trend at its wholly-owned Serpent Property (the "Property") in Eeyou Istchee James Bay, Québec (Figure 1). These results confirm and expand the high-grade gold footprint identified during the summer 2024 exploration program and further reinforces the prospectivity of the recently defined Nusa Trend and the entire Serpent Property.

Highlights

• Multiple High-Grade Gold Channel Samples: Assay results from the fall channel sampling program include: 29.8 g/t Au over 2.05 m (inc. 76.1 g/t Au over 0.75 m), 6.8 g/t Au over 5.35 m (incl. 26.8 g/t Au over 0.9 m), 5.5 g/t Au over 3.35 m (incl. 14.4 g/t Au over 0.65 m), and 4.2 g/t Au over 2.4 m (incl. 14.7 g/t Au over 0.6 m). Consistent with the geometry of the system, reported widths also represent true thicknesses.
• Vein Traced Over 100 m Along Strike and Up To 7 m Wide: Gold-bearing quartz veins and veinlets have been delineated over 100-metre strike length (east-west orientation) with widths measured up to 7 m. This marks a significant increase to the gold-bearing footprint at the Nusa Trend. Quartz veins and veinlets are hosted in a sheared diorite.
• Open Along Strike and At Depth: The mineralized vein system remains open at depth and along strike laterally to the east and west. This further supports the potential to delineate additional high-grade gold zones along the Nusa Trend.
  

"This is the third positive news release at Serpent this season," said Vincent Dubé-Bourgeois, Interim President and CEO of Harfang. "We announced the lithium discoveries in August, followed by the gold discoveries and delineation of the Nusa gold trend in September. Today, additional high-grade results and a further expansion of the gold footprint. This is what meaningful exploration looks like! With these results in hand, we have already begun planning our next exploration program in James Bay as well as putting boots on the ground at our newly acquired Ontario assets. It's busy and exciting times at Harfang."

The Nusa Trend Reveals Its Potential

As a follow-up to the summer 2024 gold discoveries and the delineation of the Nusa Gold Trend (see news release dated September 18, 2024), the Company conducted a channel sampling program at the PEM-18 discovery. In total, approximately 22 metres of material was sampled from five north-south oriented unique channels, each comprising continuous channel samples of varying lengths (Table 1; Figures 2, 3, and 4).

All the channels are perpendicular to the 100-metre-long east-west-oriented sheared diorite hosting quartz +/- carbonate veins, veinlets, and small albite-quartz dykes. Alteration associated with the veins consists of hematite, actinolite, and up to 5% disseminated pyrite, while epidote alteration is observed in the dykes (Figure 5). The subvertical dip of the system allowed the Company to capture true thicknesses during the sampling program.

Channel Sampling Specifics

Assays results from Channel 1 are highlighted by 29.8 g/t Au (uncut) over 2.05 m, including 76.1 g/t Au over 0.75 m. Channel 1 is 4.5 metres long and is located approximately 30 metres west of the PEM-18 gold discovery. The mineralized system extends 10 metres west of Channel 1 to a boulder field composed of foliated diorite cut by quartz veins.

Assays results from Channel 2 are highlighted by 6.8 g/t Au (uncut) over 5.35 m, including 8.5 g/t Au over 4.2 m, with 26.8 g/t Au over 0.9 m. Channel 2 is 6.1 metres long and is within the PEM-18 gold discovery.

Assays results from Channel 3 are highlighted by 5.5 g/t Au (uncut) over 3.35 m, including 14.4 g/t Au over 0.65 m. Channel 3 is 4.2 metres long and is located approximately 5 metres east of the PEM-18 gold discovery.

Assays results from Channel 4 are highlighted by 4.2 g/t Au (uncut) over 2.4 m, including 14.7 g/t Au over 0.6 m. Channel 4 is 3 metres long and is located 15 metres east of Channel 3.

High-grade gold mineralization has been encountered in four out of five channels designed to test the mineralized vein system at the western extent of the Nusa Trend (Figures 2 and 4). Although vegetation limits rock exposure at the eastern extent of the tested area, Channel 5 sampled quartz veins and veinlets in a sheared diorite, returning 1.1 g/t Au over 0.8 m. This demonstrates the continuity of the gold-bearing shear system. The mineralized vein system, outlined along a 100 metre east-west trend, remains open at depth and along strike, to the east and west, suggesting there continues to be a strong likelihood of delineating additional high-grade gold zones along the entire Nusa Trend.

Table 1. Select assay results from the follow-up channel sampling program at the PEM-18 gold discovery.

*Coordinates are presented in NAD83 UTM Zone 18.

Sampling Protocols and Quality Control

Channel samples were all sent to ActLabs (Val-d'Or, Québec), a certified commercial laboratory, to be analyzed for gold and a suite of other chemical elements. Samples were prepared using the RX1 method and analyzed by ICP-OES & ICP-MS (UT-6M) for 49 elements, and by fire assay on 30-gram fractions with ICP-OES finish for gold, palladium and platinum, following a 4-acid (near-total) digestion. Overrange assays for gold (>30 g/t Au) were reanalyzed by fire assay on 30-gram fractions with a gravimetric finish. A strict QA/QC 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, P.Geo., VP 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 Exploration Inc. is a well-financed 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 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.

For further information, please contact:

Vincent Dubé-Bourgeois
Interim President and CEO
info@harfangexploration.com

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.

Figure 1. The Nusa Trend showing the location of the fall channel sampling program at the PEM-18 gold discovery.

Figure 2. Aerial view showing the distribution of the five channels.

Figure 3. Looking east, down the spine of the sheared diorite.

Figure 4. The results of the fall channel sampling program with local geology.

Figure 5. Pictures of select samples from Channels 1 and 2.