Hemlo Explorers Inc. update its shareholders on the progress made by Barrick Gold Inc. ("Barrick") on the Pic Project for the three months ended September 30, 2023. Barrick continues to earn into the Pic Project as announced in the Company's release dated August 29, 2022. Three separate exploration areas have been noted around the BLS, including Moses Prospect, Begg's Lake East and Roccian Lake areas.

Exploration work in Third Quarter included detailed mapping, till sampling, soil sampling, rock sampling, and starting a 2,500-metre diamond drill program. Drill samples were taken at stations corresponding to the red circles, adding to previous samples acquired during Second Quarter-23. Results from the complete till sample dataset are displayed .

A comprehensive soil sampling program was conducted in Second Quarter of 2023, with results now available. The best results were found north of the Wire Lake Zone, along strike to the northwest (red high-Au dots). Rock sampling was conducted around the Beggs Lake Stock and Porphyry Lake areas.

An initial drill program has begun at the Pic Project, with two diamond drill holes completed at Porphyry Lake, and a third hole started at Beggs Lake East. Details on the drill collars. The team is continuing to expand the project area with robust, tried and tested mapping, till, and soil sampling programs, and the company are excited to learn of their results.

The company also pleased to see that the initial exploration results have motivated Barrick's team to start a drill program. It's notable that Barrick committed to spending $800,000 in the first year of exploration and have exceeded that amount significantly by spending over $2.6 million in the first nine months since signing the option agreement. The company look forward to drill results from the current program early in 2024.