TORONTO, June 10, 2024 (GLOBE NEWSWIRE) -- Hemlo Explorers Inc. (the “Company”) (CSE: HMLO) is pleased to announce that it has recently staked 153 claims for about 38 square kilometres in central Newfoundland (Figure 1). The claims are located at the southeast end of the Queensway Project, which is controlled by New Found Gold Corp.

The project area covers prospective ground over a major contact between the Middle Ridge intrusive rocks and the Gander Sedimentary Group. More importantly, the claims cover a major fault zone parallel to the dominant fault structures that define the Queensway gold trend. The Company is excited to begin exploration in the contact zone as there is a strong potential for orogenic-hosted vein-style gold mineralization related to both the timing and structures hosting the Queensway Project.

Mr. Brian Howlett commented, “We are excited to add these Newfoundland claims to our project portfolio. This area is an exciting and emerging gold district that began with the discovery of the Keats Zone at the Queensway Project, and we are strategically located for exploration success. The Company plans to selectively acquire more claims as opportunities arise and begin planning an initial exploration program.”

Figure 1. Map of claim area.

Hemlo Explorers Inc.

Technical Information

Dr. Lesley Rose, P.Geo., Senior Exploration Geologist 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 the 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, Newfoundland, and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area, including Project Idaho, the Pic, and North Limb Projects. The Company is also now advancing its Newfoundland claims.

For more information please contact:

Brian Howlett, President & CEO

Hemlo Explorers Inc.

brian@hemloexplorers.ca

1-647-227-3035

http://www.hemloexplorers.ca

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

Forward-Looking Information

Certain information set forth in this news release may contain forward-looking information that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, the advancement of the Pic Project 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 the Company, 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, due diligence risks, 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 information. The Company does not undertake to update such forward-looking information except as required by applicable securities laws.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc7b21ba-130a-4ce4-a7f3-0a550553dc65


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Figure 1

Map of claim area