Harfang Continues to Expand Its Portfolio of Lithium

MONTREAL, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang” or the “Company”) (TSX-V: HAR) is pleased to announce that it continues to expand its portfolio of lithium projects in the Eeyou Istchee James Bay region of Québec which is widely recognized as one of the best mining jurisdictions in the world. The new assets are distributed throughout the region and were acquired by map designation, reinforcing the strong Critical and Strategic Minerals (“CSM”) assets of the Company (Figures 1 and 2). Harfang is one of the largest landholders in the region holding 3,323 claims (172,014 hectares), and is well positioned for the discovery of both gold and lithium deposits.

This new staking is a direct result of targeting by the Harfang exploration team, one of the most knowledgeable in the region. Targeting included the statistical processing of more than 13,400 analyses of lake bottom sediments extracted from the Québec world-class governmental digital database (SIGEOM). This geochemical database was combined with a geological assessment of the environment favourable for the occurrences of lithium and rare element bearing S-type pegmatites and associated granites. Importantly, this statistical processing initiated by Harfang, which was used as a footprint for these claims acquisitions, also identified lithium anomalies in lake bottom sediments around all known lithium deposits and discoveries. Targeting efforts are ongoing.

New Claim Acquisitions

The most recent assets include the Lemare, Ross, Conviac and Sakami properties, and addition of new claims to the La Passe Property. No evidence of systematic historical exploration is apparent on any of the recent additional acquisitions announced today.

The Lemare Property consists of 220 claims located approximately 20 kilometres southeast of the Whabouchi lithium deposit (Figure 1). The Property includes several strong lake bottom sediment lithium anomalies of which four are ≥99.5th percentile of the entire SIGEOM database. Some of these calculated anomalies form a tight cluster in an area dominated by granites and pegmatites of the Opatica Subprovince.

The Ross Property consists of 100 claims located along the northern side of the Lac-des-Montagnes volcano-sedimentary belt in a geological setting similar to that of the Whabouchi lithium deposit (Figure 1). The staked area is known to host abundant pegmatite dykes.

The Conviac Property consists of 140 contiguous claims located 70 km southeast of the Eleonore gold mine and was staked to cover the third-strongest lithium anomaly calculated from the database (Figure 1). It stretches approximately 15 kilometres along the prolific contact between the La Grande and Opinaca subprovinces. The Conviac Property also has excellent potential for the discovery of gold mineralization similar to the Eleonore mine and Cheechoo deposit.

The Sakami Property includes a total of 204 claims grouped into two distinct blocks eight kilometres apart (Figure 2). It is located near the northern border of the Opinaca Subprovince. Regional mapping has confirmed the presence of granites and pegmatites of the Vieux Comptoir Granitic Suite and paragneiss.

In addition, 62 claims grouped into two distinct blocks were added to the La Passe Property (Figure 2). The new claims cover a geological setting similar to that of the original property which includes a series of pegmatite dykes associated with the Vieux Comptoir Granitic Suite. These dykes were intruded into metasedimentary rocks and paragneiss. Harfang believes the entire La Passe Property, located near the limit between the La Grande and Opinaca subprovinces, represents a highly prospective geological setting for the discovery of lithium-bearing pegmatites and gold mineralization.

Harfang is currently planning its exploration program on its lithium and gold projects for 2023.

Commented Ian Campbell, President and CEO, “The Eeyou Istchee James Bay region of Québec is rapidly emerging as a North American lithium province comparable to some of the largest districts globally based on the occurrence of several deposits and recent discoveries. It will further benefit from the intensity of exploration this year and I believe there is a high probability that additional discoveries will be made throughout the region given the early stage of exploration in most areas. Importantly for Harfang is that many of our already existing and new targeted projects have overlapping potential for the discovery of both lithium-bearing pegmatites and gold mineralization.”

Cautionary statement: Harfang Management cautions that mineralization occurring in gold and lithium deposits and discoveries previously described is not necessarily indicative of mineralization that may be identified on the properties held by Harfang.

Qualified Person

The technical information in this news release was prepared and approved by François Huot, P.Geo, Vice President Exploration of Harfang, who is a non-independent qualified person for the technical disclosure as defined by the National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”).

About Harfang Exploration Inc.

Harfang Exploration Inc. is well financed with approximately $8.24 M in the treasury as of October 31, 2022 and is a technically driven mineral exploration company with the primary mission to discover ore deposits in Québec and Ontario. The Company is managed by an experienced team of industry professionals with a proven track record of success, controls a portfolio of highly prospective projects and has a strong financial position. Harfang is dedicated to best practices through engagement with all stakeholders and commitment to the environment.

On behalf of the Board of Directors and for further information, please contact:

Ian Campbell
President and Chief Executive Officer
Tel: 647 680-3820
Email: icampbell@harfangexploration.com
Web: www.harfangexploration.com

Cautionary Statement Regarding Forward-Looking Information

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the 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.

Harfang Continues to Expand Its Portfolio of Lithium


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