Mr. Brian Howlett reports

HEMLO EXPLORERS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Hemlo Explorers Inc. has arranged a non-brokered private placement of up to 2,941,176 flow-through shares at an issue price of 8.5 cents per flow-through share for aggregate gross proceeds of up to $250,000. Each FT share will be issued as a flow-through share (as defined in Subsection 66(15) of the Income Tax Act (Canada)).

The proceeds of the offering will be used for the exploration and advancement of the company's central Newfoundland projects, and for general corporate purposes. Any securities to be issued in connection with the offering will be subject to a hold period of four months and one day from the date of issuance. The company may pay finders' fees on a portion of the offering, subject to compliance with the policies of the Canadian Securities Exchange (CSE) and applicable securities legislation.

The closing of the offering is anticipated to take place on Nov. 25, 2024. The CSE approved the company's reliance on an exemption from Section 6.2(5) of CSE Policy 6 -- Distributions & Corporate Finance, to permit the company to close the offering fewer than five business days following the company announcing its intention to issue the FT shares.

About Hemlo Explorers Inc.

Hemlo is a Canadian-based mineral exploration company with a portfolio of properties in Ontario, Newfoundland and Nunavut. Hemlo is focused on generating shareholder value through the advancement of its Hemlo-area projects, including the Idaho project, the Pic project (under option to Barrick Gold Inc.) and the North Limb project. Hemlo is also advancing its Newfoundland claims, including its Gold Anchor project in central Newfoundland.

Hemlo would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, government of Newfoundland and Labrador.

We seek Safe Harbor.