Hemlo Explorers Provides Update on Drilling at the North Limb Project

TORONTO, May 12, 2021 - Hemlo Explorers Inc. (the "Company") (TSXV: HMLO) is pleased to provide an update on its on going drill campaign at its North Limb Project, located approximately 15 km north of the Hemlo Mine near Manitouwadge, Ontario.

Highlights:

• North Limb arcuate formation and geological setting resembles that of Hemlo Mine but has been historically underexplored with disjointed programs under fragmented ownership;
• Following a detailed compilation and evaluation, Hemlo started 10,000 metre drill program in late January designed to test target horizons, on a property scale, along strike and at greater depths than the majority of historic drillholes that tested to less than 250 m depth.
• 6,300 metres in 13 drillholes have been completed covering less than 1 km of the 8.2 km Armand Volcanic Complex Horizon and less than 0.7 km of the 7 km Lunny/Musher Felsic Volcanic Horizons;
• To date management is very encouraged by silica, sericite, feldspar, green mica alteration, which similar to that of the Hemlo Mine alteration, observed in felsic to intermediate volcanic and sedimentary assemblages; and
• Gold and multi-element assays have been returned for 3 of the 13 drillholes completed with a few anomalous gold values returned over narrow widths, with evaluation of multi-element analysis on-going.
  

This program, which is the first on this portion of the property since 1996, will consist of a minimum of 10,000 metres through the completion of approximately 20 holes with an average length of 500 metres.

"The initial results from the current drill program have exhibited that we have similar stratigraphy as the to the Moose Lake Volcanic Complex at the prolific Hemlo gold deposit. While the gold numbers reported from the first holes have only been anomalous, we are encouraged by the progress of the current program and look forward to more results to be delivered in the coming weeks and months," said Brian Howlett, President and CEO of Hemlo Explorers.

Management has proposed drilling specific targets on the North Limb Property that will include testing numerous sections of the 8.2-kilometre Armand Volcanic Complex and 7-kilometre Lunny/Musher Felsic trends, based on several anomalies outlined by drill intercepts, soil and rock assays, and geophysical signatures. The Company believes that the North Limb assemblages resemble the geological setting of the Moose Lake Volcanic Complex at the Hemlo gold deposit that has produced 22 million ounces since it began production in 1985 (as reported by Barrick Gold Corporation).

A map image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/332640f5-f2f1-41cd-83f3-b5b0d822872d

The following table provides collar location coordinates, elevation, hole direction and dip for drillholes NL21-01 to 13.

Notes: (m) - metres
* nsv - no significant values in gold, multi-element assays under evaluation.
** - planned depth given, core log pending.

Covid-19 Protocol

Effective April 1, 2021, the Province of Ontario declared the implementation of an emergency brake in the Province. Management confirms that it is so far unaffected by the situation and continues its program unhindered as mineral exploration is still considered an essential service by the Provincial Government. Management of the Company is working with our contractors to ensure strict adherence to appropriate safety protocols to safeguard the health and well being of all our employees and contractors.

Technical Information

Dan McCormack, 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 North Limb, Hemlo West and the Pic Project.

For more information please contact:

Brian Howlett, President & CEO
Hemlo 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.