Hemlo Continues to Intersect Anomalous Gold Horizons at the Armand Lake Volcanic Complex

TORONTO, Aug. 24, 2021 - Hemlo Explorers Inc. (the "Company") (TSXV: HMLO) is pleased to provide an update on its drill program at the North Limb project, located 15 km north of the Hemlo Mine near Manitouwadge, Ontario.

Highlights:

• Two drill grids have been instituted to cover the entire North Limb project as shown in Figure 1. Drillhole results announced on July 27^th, 2021, are now referenced to grid lines A-1150 (NL21-01, NL21-03, NL21-04), A-1000 (NL21-02) and A-1300 (NL21-05).
  
  
• Armand Lake Volcanic Complex (ALVC): Drillholes NL21-06 (section A-150), NL21-07 and NL21-08 (Section A+725) and NL21-09 (Section A+475) totalling 1,897.5 metres were drilled on three sections over a strike of 875 m and were designed to test the Northeast and Southwest contacts of the ALVC.
  
  
• Drillhole NL21-06 (Figure 3) intersected a broad 9.69 m interval grading 48 ppb Au (including 2.5 m grading 112 ppb Au) at a downhole depth of 454.76 to 464.45 m. This correlates well with a 1.95 m interval grading 135 ppb Au in historic drill hole Q-96-2 and defines an anomalous gold horizon over a 450 m vertical extent. Numerous additional strongly anomalous gold horizons were intersected in all three drill holes on this section (Table 1).
  
  
• Multiple anomalous gold intersections in drillholes NL21-07and NL21-08 (Figure 4) have defined two contiguous horizons between the two holes over a vertical depth of 300 m including a broad zone over 8.50 m grading 103 ppb Au in NL21-08. Additional anomalous gold horizons were intersected in NL21-07, the down dip of which may have not been fully tested by NL21-08.
  
  
• NL21-09 intersected multiple anomalous gold horizons (Figure 5), two of which correlate with anomalous gold intersections in historical hole F1-95-6 and which define a vertical contiguous gold horizon over 300 m depth. An upper intersection in NL21-09 graded 53 ppb gold over 12.85 m (including 2.46 m grading 157 ppb Au) and a lower intersection averaged 138 ppb gold over 10.55 m (including 257 ppb gold over 2.50 m).
  

Further analysis of multi-element ICP data using ioGAS? geochemical software has allowed for identification of path-finder elements associated with anomalous Au mineralization in the Armand Lake Volcanic Complex. Elements such as Ag, As, Ba, Bi, Cu, Hg, Mo, Sb, Se, Te, and V are present, which is similar to Au-bearing intervals in the Hemlo Camp. While some of these elements are positively correlated with Au mineralization, others define broader horizons indicating a more extensive corridor of hydrothermal activity.

"We continue to be encouraged by the widespread intersection of contiguous anomalous gold horizons to depth and along considerable strike length," stated Brian Howlett, CEO of Hemlo Explorers. "These anomalous gold horizons, in addition to widespread elevated pathfinder elements like those at the Hemlo gold deposit, point to an extensive gold enriched hydrothermal system at the North Limb project. Recoding and interpretation of historical drill data has been instrumental to the ongoing interpretation and, accordingly, Hemlo Explorers has engaged the services of Orix Geosciences 2018 Inc. to digitally capture all North Limb project data including in excess of 29,000 m of historical drilling."

A two-month surface mapping program, covering more than 25 line-kms, and 3D Leapfrog? drillhole geological and geochemical interpretation, is ongoing in an effort to plan additional follow-up drilling.

The North Limb geological setting resembles that of the Hemlo Deposit with felsic to intermediate volcanic and sedimentary assemblages, quartz-feldspar intrusives in a district scale, high strain arcuate structural regime. Similar alteration of silica, sericite, feldspar and vanadium to that of the Hemlo Deposit is found with anomalous gold along the Armand and Musher Horizons which have strike lengths of 7 and 8 kilometres, respectively.

Photos accompanying this announcement are available at:

Figure #1 - North Limb Project Drill Grids Plan Map
https://www.globenewswire.com/NewsRoom/AttachmentNg/5cba2e9e-1f1b-404a-9205-46e1d7c58ebd

Figure #2 - Armand Lake Volcanic Complex Drillhole Plan Map
https://www.globenewswire.com/NewsRoom/AttachmentNg/bdae1da3-d0b9-4938-a50d-d70b862a7916

Figure #3 - Section A-150 (NL21-06)
https://www.globenewswire.com/NewsRoom/AttachmentNg/be2a2763-2114-4fb6-b840-ff215b99a819

Figure #4 - Section A+725 (NL21-07, NL21-08)
https://www.globenewswire.com/NewsRoom/AttachmentNg/4bb1d8e9-1a19-4ad5-9509-b63edb07c101

Figure #5 - Section A+475 (NL21-09)
https://www.globenewswire.com/NewsRoom/AttachmentNg/5a9659e1-9a7a-47d8-aa60-b3e5cadfb079

Table 1. Summary of Current and Historic Armand Lake Volcanic Complex Drill Results

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 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.