Hemlo Explorers Inc. announced that it has received its exploration permit for Project Idaho from the Ministry of Mines, Natural Resources and Forestry. The Company also confirms that it has executed an Exploration Agreement with Biigtigong Nishnaabeg which covers exploration on Project Idaho and the Pic Project, which was optioned to a subsidiary of Barrick Gold Corporation in August 2022. This Agreement allows for the Company to move forward expeditiously with its exploration plans.

Key highlights of the Agreement as they pertain to the Company are as follows: The Company recognizes that its mining claims are in the Aboriginal title area of Biigtigong; Biigtigong recognizes the Company's right to explore its mining claims with certainty and stability. Biigtigong have also agreed to cooperate with the Company in the completion of those activities; The Company also agrees to engage with Biigtigong's members and companies wherever possible; The Company has agreed to keep Biigtigong advised of all exploration plans and activities; and The Company has also transferred the mining claims known as "Hemlo West" to N'hinmaagewin Ltd., a company owned by Biigtigong. Biigtigong plans to work diligently to make this claim area part of its reserve lands for the use of their traditional activities.

Until the legal change occurs, the Company will maintain a 5% net smelter returns royalty on the claims.