Hemlo Explorers Inc. update its shareholders on the progress made by Barrick Gold on the Pic Project optioned from the Company for the six months ended June 30, 2023. Barrick is currently earning into the Pic Project as announced in the Company's press release dated August 29, 2022. In the quarter ended June 30, 2023, Barrick's exploration team executed till sampling across the northern portion of the Pic Project in the Beggs Lake area.

A widespread soil sampling program was also conducted across the eastern portion of the Pic Project, covering the Wire Lake area. Barrick received assay results from re-logged and re-sampled historic core. The Barrick team is focused on underexplored areas within the Pic Project, looking for anomalous metal values within overlying material that has not been transported too far from source.

Till sampling focused on the Beggs Stock area and southward toward Page Lake. Three areas were identified for follow-up till sampling over a tighter-spaced grid (red ellipses), with those results still outstanding. Assay results from all till samples are also pending.

The Barrick team also mapped areas identified as anomalous by the initial till sampling program, and sampled 218 outcrops. The grab samples were sent for assay and results are pending. Soil sampling covered an area surrounding the Wire Lake intrusion and mineralized zones, along the eastern side of the greenstone belt.

The majority of soils were sampled from the "B" horizon focusing mainly on the Archean metavolcanics within the greenstone belt, and some soils taken above the neighbouring Gowan Lake pluton. Soil sample assays are also pending.