Mr. Brian Howlett reports

HEMLO EXPLORERS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Hemlo Explorers Inc. has closed its previously announced non-brokered private placement and has issued an aggregate of 2,352,940 flow-through shares (FT shares) at an issue price of 8.5 cents per FT share for aggregate gross proceeds of $200,000. Each FT share was 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. 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.

In connection with the closing of the offering, the company paid a cash finder's fee to an eligible finder in respect of subscriptions for FT shares referred by such finder.

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 less 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 Project Idaho, the Pic project (under option to Barrick Gold Inc.) and 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.