Harfang Exploration Inc. reported more gold intervals in the last 11 drill holes completed during summer 2021 on its wholly owned Serpent Property located in Eeyou Istchee - James Bay (Québec). These new results confirm that significant gold occurs over at least 1,700 m along the Stu structure. The 3 drill program at Serpent started on January 10, 2021.

Harfang continues testing that structure and other associated lineaments up-ice of the gold-rich tills and soils. Drilling confirms that the Stu structure contains gold over at least 1,700 m; open laterally and at depth; Clustering of significant gold intervals and widening of the gold footprint (>50 ppb Au) in drillholes SER-21-036, 037, 039, 040 and 044 represent so far the most mineralized section of the Stu trend; Till samples (up to 191 gold grains) extend the gold-in-till anomaly another 1 km to the southwest; gold grains may be derived from the Stu and/or Goldhawk structures; 6,000 m winter diamond drilling program initiated. The summer 2021 drill program (19 holes, 3,759 m) was primarily designed to continue testing the gold-bearing N295° Stu structure up-ice of the gold-rich tills and soils.

New gold intervals intersected in SER-21-036, 037, 039, 040 and 044 confirm that gold is present for another 500 m east of SER-21-035 which hit 4.33 g/t Au over 7.00 m and 1.11 g/t Au over 6.00 m. Thirteen drillholes now confirm gold intervals (up to 4.09 g/t Au over 8.00 m, SER-21-029) are distributed over 1,700 m along the Stu structure which remains open laterally and at depth. The gold footprint (>50 ppb Au) is more voluminous in the immediate area of holes 35, 36, 37, 39 and 40 suggesting that important gold-bearing zones remain to be discovered in the 475 m gap separating holes 40 and 44. This area is marked by discontinuous magnetic bands which appear to be disrupted by NE-SW faults cutting across the Stu trend; a complex structural setting favorable for gold.

Gold intervals are most commonly hosted in fine to medium-grained diorite containing 1-3% disseminated pyrite, minor quartz veins and actinolite-feldspar-quartz veinlets. Diorite deformation is subtle, varying from weakly foliated to locally sheared. High grade zones are commonly explained by visible gold.

Hole 44 intersected a fractured feldspar-phyric granodiorite containing quartz-tourmaline veins, potassic alterations in the quartz vein selvages and minor disseminated pyrite that returned 1.16 g/t Au over 9.15 m. This host rock represents a new target for mineralization in the eastern part of the marshland. New results once more confirm that the gold footprint in drillholes is spatially associated with non-magnetic zones. As mentioned in the dated on December 1, 2021, this footprint appears to follow the non-magnetic WNW-ESE and ENE-WSW discontinuities.

It is also associated with very low magnetic susceptibility in rocks. These linear features and their intersections are prime targets for the upcoming drilling. SER-21-043 and 045 have not returned intervals with a metal factor >2. Three holes tested specific targets away from the Stu structure.

Hole 41 tested the Moby-Dick structure at depth. Hole 42 targeted the intersection of a WNW gold-bearing shear zone and the interpreted extension of the Moby-Dick structure proximal to an induced polarization anomaly and quartz-tourmaline boulders which returned up to 45.5 g/t Au. None of these holes returned significant grades and therefore the source of the high grade gold bearing boulders remains unexplained.

Hole 46 was collared to investigate the southeastern extension of the Goldhawk gold structure drilled by LaSalle Exploration Corp. (LaSalle). This hole was successful in intersecting mineralized diorite similar to that at the Goldhawk showing.

However, granite intruded into the diorite was encountered at the projected depth of the mineralization zone. Floats of gold-bearing diorite are preserved in the granite. Harfang collected 12 till samples and 699 soil (B-Horizon) samples in 2021 as part of a follow-up on previous geochemical surveys around the marshland.

The till samples tested the southwestern extension of the dispersal train of gold detected in previous surveys. Ten of the 12 till samples contain more than 20 gold grains (anomaly threshold), with a maximum of 191 grains. Gold analyses in the heavy mineral concentrates are pending.

These new results further demonstrate the strength of the gold-in-till anomaly at Serpent. Furthermore, the actual results suggest that the dispersal train of gold as long as 4 km may be caused by either a series of sources under the marshland or multiple gold occurrences in the bedrock underneath the gold train itself. The projected southeastern extension of the Goldhawk structure onto Serpent may also explain the gold content in 2021 tills.

The soil survey confirms that the gold-rich samples are mainly restricted to the marshland area and to adjacent structural features. Twenty-six samples returned >25 ppb Au, with a maximum of 589 ppb Au.