Harfang Exploration Inc. reports significant gold intervals in drillholes and defines a regional gold footprint at Serpent

Highlights:

• Drillhole SER-21-029 returned 4.09 g/t Au over 8.00 m;
• Drillhole SER-21-035 returned 4.33 g/t Au over 7.00 m and additional gold intervals (most mineralized drillhole so far);
• Main gold-bearing Stu structure extended for at least 425 m;
• A large gold footprint (10 km², >50 ppb Au) defined at surface and at depth;
• WNW-ESE gold structures outlined on Serpent extend into LaSalle Exploration's Radisson property totaling at least 10 km in length.

Promising Drill Results

Table 1. All gold intervals in drillholes SER-21-028 to SER-21-035 with a metal factor >2 (g/t
x m). Bold intervals have a metal factor >20.

*The true thickness of reported intervals cannot be determined with the information currently available.

The most significant intervals in SER-21-029 (4.09 g/t Au over 8.00 m) and SER-21-035 (4.33 g/t Au over 7.00 m) consist in fine to medium-grained diorite containing 1-3% disseminated pyrite and actinolite-feldspar-quartz veinlets (Figs. 3 and 4). Decimetric tension quartz veins are present in SER-21-029. Gold grades are most likely associated with the amount of pyrite rather than with quartz veins. Isolated and coarse gold crystals were observed in the actinolite-feldspar-quartz veinlets. Similar lithologies, alterations and amount of pyrite are found in holes SER-21-036, 037, 039 and 040 for which analytical results are pending. SER-21-031 and 034 have not returned significant intervals with a metal factor >2.

This second drill program at Serpent, completed in early October, included 19 drillholes for a total of 3,759 metres. Five holes (SER-21-028 to 032) tested the main interpreted Stu structure immediately east and west of the gold interval hit in SER-21-013 (3.47 g/t Au over 7.50 m) during the maiden campaign. A North-South fence of 6 holes (SER-21-033 to 038) was strategically positioned to test several sets of magnetic discontinuities (structural lineaments?) underneath the marshland, 425 m east of the first fence completed during winter 2021. Two holes (SER-21-039 and 040) were added on both sides of that fence following gold observations in holes 035, 036 and 037. Finally, the remaining holes (SER-21-041 to 046) tested specific targets, including the southeastern extension of LaSalle's Goldhawk trend.

Developing a District-Scale Gold Play

Recent exploration conducted by Harfang demonstrates the gold potential of the Property. This is highlighted by one of the most significant gold-in-till anomalies in Canada covering a >8 km² area, by more than 40 gold showings discovered since 2017 and by the recognition of a regional gold-bearing corridor extending over more than 10 kilometres straddling both Serpent and Radisson properties. Recent drilling demonstrates that gold structures, still barely tested, exist underneath the marshland.

Newly-Defined Regional Gold Footprint

This newly-detected gold footprint, which is spatially associated with diorite and gabbro and appears to be structurally-controlled, is another strong evidence supporting the hypothesis of district-scale gold potential.

Figure 5 illustrates the gold footprint defined by all surface grab samples with more than 50 ppb Au. This threshold value truly represents an atypical gold content for dioritic and gabbroic host rocks. The footprint spans over at least 10 km² at Serpent solely, and is known to extend into the Radisson property. Approximately 25% of the grab samples collected in and around the diorite intrusion contain >50 ppb Au.

Figure 6 shows that non-magnetic zones correspond to anomalous gold content in drillholes. These zones include a higher proportion of samples >50 ppb Au intermixed with intervals in which values range between 10 and 50 ppb Au. The footprint in drillholes appears to follow the non-magnetic WNW and ENE discontinuities. It is also associated with very low magnetic susceptibility in rocks.

These linear features and their intersections are prime targets for additional drilling.

Multiple Kilometric Gold Lineaments

Geological mapping and prospecting have confirmed extensions of gold structures outside of the marshland. Drillholes SER-21-041 and SER-21-042 tested the Moby-Dick structure at depth and the possible source of quartz-tourmaline boulders grading up to 45.5 g/t Au, respectively (Fig. 1). Hole SER-21-046, located in the westernmost part of the Property, tested the southeastern extension of the Goldhawk structure which seems to extend into Serpent. We recall that many gold-rich till samples were collected in 2020 down-ice of the possible southeastern extension of the Goldhawk trend along which LaSalle recently announced a drill intercept at 3.01 g/t Au over 6.00 m (Fig. 7). Twelve additional till samples (results pending) were recently collected in the same area.

Our drilling program has just started testing a series of structural lineaments extending over at least 6 kilometres from the western limit of the Property to the Moby-Dick area (Fig. 1). All of these structures remain open laterally and at depth. No drilling has yet been done east of Moby-Dick where gold showings, including the Mista Cu-Au-Ag zone, have been discovered over an additional 7 kilometres.

Next Exploration Phase

A 3^rd drill program (3,500-4,000 m) begins in January 2022. Main targets include follow-ups on gold structures drilled so far in the marshland and any other gold intervals that will emerge from drillholes for which results are pending. Other targets, developed from our most recent prospecting and interpretation, will be drill-tested.

Results of the remaining 11 drillholes will be released as soon as available.

To view FIGURES 1 to 7, please click here.

The technical and scientific information in this press release has been prepared and approved by Fran?ois Huot, P.Geo, Vice President Exploration at Harfang, a "qualified person" as defined by NI 43-101.

Quality control

Rock samples discussed in this press release were sent to ALS (Val-d'Or, Qu?bec) to be analyzed for gold. Some of them were also analyzed for 33 other chemical elements. Gold was analyzed by atomic absorption following fire assaying on a 30-g sample fraction (Au-AA23). Other elements were analyzed using the four-acid ICP-AES method (ME-ICP61). Samples with >3 g/t Au were reanalyzed with a gravimetric finish (Au-GRA21). Metallic sieve analyses were done for selected samples following the Au-SCR21 procedure. Sample preparation and analytical determination were performed in various ALS laboratories.

The sampling procedures and the quality control followed protocols developed by Harfang and ALS. Preliminary data interpretation was done by Harfang.

About Harfang

Harfang is a mining exploration company whose primary mission is to discover new gold districts in the province of Qu?bec. Harfang's development model is based on the generation of new mining projects and on the establishment of partnerships with major exploration and mining companies to advance its exploration projects.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Harfang's periodic reports including the filings made by Harfang from time to time with securities regulatory authorities.

For further information:

Fran?ois Goulet
President and Chief Executive Officer
Tel: 514 940-0670 #339
Email: fgoulet@harfangexploration.com
Web : www.harfangexploration.com