Harfang Exploration Inc. reported that the 2023 exploration program on its 100% owned Lake Menarik Property (the Property) in Eeyou Itschee James Bay (Québec) has commenced. The program first consists of line cutting and approximately 40 linear kilometres of induced polarization geophysical surveying. This work will be followed by the Company's first diamond drill program on the Property, anticipated to begin in February.

Harfang believes that the overall geological setting of the project is unique in Eeyou Istchee James Bay as it shares numerous similarities with that of the major gold camps in the Abitibi region including the Timmins Camp. The Property, located 45 kilometres south of the Radisson locality, consists of 304 claims (15,627 ha). It is characterized by multiple gold occurrences in a variety of rock types including up to 1,918 g/t Au in grab samples, and 12.46 g/t Au over 3.6 metres and 1.04 g/t Au over 24.9 metres in surface channel samples.

Historical drilling of 17 shallow holes in the south-central part of the property in 2000 was limited to a maximum vertical depth of 100 metres and focussed solely on a highly altered monzonite/syenite intrusion (the Pierre monzonite) with highlights of 0.89 g/t Au over 68.25 metres. During summer and fall 2022, Harfang carried out preliminary surface exploration on the Property with the main objectives to prospect unexplored areas of the Property, assess gold occurrences, and enhance the understanding of the gold setting in the area of the Pierre monzonite to gain a better understanding of the overall geological setting. Major Breakthrough in the Eastern Portion of the Property The 2023 program builds on the 2022 successful field program that in part focussed on the unexplored eastern portion of the Lake Menarik property.

The 2022 program resulted in the discovery of a series of closely spaced decimetric quartz veins grading up to 17.30 g/t Au, 217 g/t Ag and 0.61% Pb (grab) and up to 6.34 g/t Au, 60 g/t Ag and 0.09% Pb over 0.40 metres (channel). This system of quartz veins, referred to as the Oswald showing, has been traced over 150 metres in length (open laterally) and is interpreted to be hosted in splay faults originating from a major east-west break crossing the southern portion of the Property. This discovery represents a new and promising target area, expanding the exploration ground.

Two extensive alteration zones made up of massive ankerite were also discovered proximal to the Oswald showing. The most extensive ankerite-rich system, hosted in a highly sheared mafic unit, has been traced over 700 metres long and is up to 50 metres wide. These ankerite zones are brecciated, contain trace to 2% disseminated pyrite and rare arsenopyrite, and are crosscut by a network of quartz and calcite veins.

Grab samples confirm that these alteration zones are locally anomalous in gold with up to 0.30 g/t Au. A grab sample collected in a sheared and ankeritized iron formation in this area yielded 2.87 g/t Au. Significantly, this type of ankerite shear zones commonly occurs in major gold camps, such as the Timmins Camp, and opens up new areas for ongoing exploration.

Alteration minerals including hematite, carbonates, sericite, chlorite and quartz associated with disseminated sulphides are common throughout the Property. More detailed mapping coupled with limited prospecting, on-site reassessment of the geological features, and selected relogging of historical drill core in the Pierre monzonite area improved the understanding of the magmatic, hydrothermal and structural controls of gold occurrences. Sampling of quartz veins in sheared volcanics near the northern margin of the Pierre monzonite and south of the Massé showing yielded up to 3.57 g/t Au.

In December 2022, Prospectair completed a detailed heliborne magnetic survey on the Lake Menarik and Menarik East properties. The survey totalled 2,580 linear kilometres along lines spaced 50 metres apart. 2023 Winter Program: The new detailed magnetic survey together with the results of the induced polarization ground survey beginning shortly, and historical and more recent geological data will be utilized to identify first-priority drill targets.

A drill campaign (3,500 metres, approximately 15 holes) is being planned and is anticipated to begin in early February.