Mr. Brian Howlett reports

HEMLO EXPLORERS COMMENCES DIAMOND DRILLING AT PROJECT IDAHO

Hemlo Explorers Inc. has commenced drilling at its Project Idaho, located approximately two kilometres east of Generation Mining's Marathon palladium-copper project near Marathon, Ont.

Highlights:

• Diamond drilling has begun at Project Idaho to test a number of targets over a three-kilometre north-south-trending strike length.
• Targets were chosen to intersect VTEM (versatile time domain electromagnetic) anomalies that occur at depth, which correspond to surface platinum, palladium and copper mineralization and Coldwell complex intrusives.
• Targets also coincident with a magnetic signature similar to that of the eastern gabbros at the neighbouring Marathon Pd-Cu deposit within the Coldwell complex.

This is the company's maiden drill campaign on Project Idaho, which has not seen any drilling since 1985. Phase 1 of the drill program targets several VTEM anomalies that occur at depth along a three-kilometre north-south-striking magnetic trend. Drill holes have been planned to intersect the VTEM anomalies, many of which occur near the inferred boundary between the Coldwell complex to the west and the Archean volcanics to the east. Surface exposure of these rocks displayed chaotic, brecciated textures with visible sulphide mineralization. Grab samples returned anomalous values of platinum, palladium, gold and copper. The diamond drill targets are within a three-kilometre north-south-trending zone featuring a magnetic signature analogous to the eastern gabbros at the Marathon Pd-Cu deposit, roughly two kilometres to the west. The drill sites are also coincident with favourable regional structural features related to Coldwell complex magmatism. Targets are relatively shallow, averaging roughly 180-metre depth.

The company has invested significant efforts over the past 12 months to develop these drill targets, by compiling historic geological, geophysical and geochemical data and incorporating novel exploration results from the 2022 field season as well as the airborne VTEM survey completed in 2022.

"We believe we have the potential to discover a significant mineralized system similar to the Marathon Pd-Cu project," said Brian Howlett, president and chief executive officer of Hemlo Explorers. "We are excited to be drilling the western side of Project Idaho close to a neighbouring deposit in virgin ground."

Technical information

Dr. Lesley Rose, PGeo, senior exploration geologist 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.

About Hemlo Explorers Inc.

Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. The company is focused on generating shareholder value through the advancement of its main Hemlo area projects, including the Project Idaho and the Pic project optioned to Barrick Gold Inc.

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