HMLO Hemlo Explorers Inc

Hemlo Explorers Inc. (the “Company”) (TSXV: HMLO) is pleased to announce that it has identified sulphide targets on the Company’s Pic Project approximately 3 kms east of Generation Mining’s Marathon Palladium-Copper (“Pd-Cu”) proposed open pit operation (“Marathon Deposit”) near Marathon, Ontario (Figure 1).

“We are very excited to have begun work on this prospective area near Generation’s project. The sulphide mineralization identified in a previous drill hole is encouraging as we move this project forward”, said Brian Howlett, President and CEO of the Company.

The Marathon Deposit is hosted in a late intrusive phase gabbro along the northern and eastern margin of the Coldwell Complex which intrudes the older Archean Schreiber-Hemlo greenstone belt. The Company’s recent prospecting and property evaluation at Pic has identified surface gabbro intrusions that are similar to the intrusions on Generation Mining’s property and that are enriched with Pd-Cu at the Marathon Deposit. The Company’s target development is guided by the magma conduit deposit model which is favoured to explain sulphide mineralization and other economic mineral enrichment at Marathon. Some of the key highlights for target development are as follows:

Highlights:

• Radial, concentric and intersecting fault development, as a consequence of Coldwell Complex magma uplift and caldera collapse, served as conduits for the Pd-Cu bearing gabbroic magmas at the Marathon Deposit (Figure 2). These structures extend into the Archean country rocks on Hemlo Explorer’s claims, where north-south trending gabbro dykes have been observed from historic mapping.

• 1983 ground magnetic and IP surveys show a linear north-south trend extending due south of a 2008 VTEM survey chargeability anomaly (Figure 3). The VTEM anomaly sits on an interpreted radial fault and is possibly an indication of sulphide mineralization.

• Field mapping in 1983 and 1984 identify silicified and sericitized rhyolite breccia zones with a corresponding 1983 IP anomaly.

• Sulphide mineralization returned from a 1985 historic drillhole BMN-03 approximately one kilometre east of the same 2008 VTEM anomaly as above and could be indicative of magma-country rock mixing and sulphide stripping with 10 intervals of variable pyrite, minor pyrrhotite and sphalerite mineralization in silica-sericite altered felspar porphyry breccia, plus multiple biotite lamprophyre dykes. Significant sulphide mineralization ranged from 15-100% and up to core interval lengths of 24 metres.

• As noted on vertical section 5404700 N of the Generation Mining press release dated August 17, 2021 (www.sedar.com), sulphide stripping and deposition of the Coldwell Complex Eastern gabbro at the Marathon project occurred with mixing of the Archean basement rock with mineralization extending well into the footwall Archean basement rocks.

The target area’s structural, geophysical and aspects of the geological setting resembles that of the Generation Mining’s Marathon deposit located W-NW of Hemlo Explorer’s claims. Brian Howlett, CEO of Hemlo Explorers, commented “We are pleased to have identified some significant targets for active exploration. We are currently considering airborne VTEM and high-resolution magnetic surveys, the acquisition of high-definition LIDAR, drilling of the VTEM and magnetic high anomalies and trends. The compilation of historical data is well advanced and integral to the evolving geological interpretation.”

Figure #1 – Project Location Maphttps://www.globenewswire.com/NewsRoom/AttachmentNg/7bf0c6cf-2e86-4598-9175-f955f49bc492

Figure #2: Regional Geology with Interpreted Concentric and Radial Faultinghttps://www.globenewswire.com/NewsRoom/AttachmentNg/b21ff814-b005-4529-93a2-7d77cf676e49

Figure #3: Regional Magnetics and Historic Explorationhttps://www.globenewswire.com/NewsRoom/AttachmentNg/6d1ea900-fef3-47b4-a5a8-9c22b46490fa

Technical Information

Mr. Adrian Bray, P.Geo., Exploration Manager 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. We are focused on generating shareholder value through the advancement of our main Hemlo area projects, including the Pic Project, North Limb, and Hemlo West.

For more information please contact:

Brian Howlett, President & CEOHemlo Explorers Inc.brian@hemloexplorers.ca(647) 227-3035

http://www.hemloexplorers.ca

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Hemlo Explorers Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing, exploration risk and Covid-19 pandemic related orders. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.