Soil Survey Identifies Anomalous Copper, Palladium, Platinum, and Gold over Project Idaho VTEM Targets

TORONTO, Jan. 25, 2023 - Hemlo Explorers Inc. (the "Company") (TSXV: HMLO) is pleased to provide an update on final precious metals and multi-element results from its soil sampling campaign on Project Idaho, located three kilometres southeast of Generation Mining's Marathon Palladium Copper Deposit ("Marathon Pd-Cu Deposit") (Figure 1).

Results from the soil sampling program show anomalous precious metals and pathfinder element values over areas covering VTEM anomalies and Coldwell Complex-style mafic intrusive lithologies, strongly suggesting emplacement of primary igneous magmas laden with PGE-bearing sulfides emanating from the proximal Coldwell Complex.

Figure #1 - Project Idaho Location Map

A total of 1,101 B-horizon soil samples were analyzed on a 50 m square grid, predominately along the western portion of the project. This covered VTEM anomalies and Coldwell Complex-related mafic intrusive lithologies highlighted by the recently released rock sampling results and results of the airborne geophysical survey flown in August of 2022 (See press release dated October 31, 2022). Out of the 1,101 samples collected 1,099 gold, platinum and palladium ("Au, Pt, Pd") and 1,101 copper, chromium and nickel ("Cu, Cr, Ni") pathfinder results are available.

A total of 120 soil samples (10.9%) returned values ?10 ppb Pt, while 3 samples displayed anomalous Pd ?10 ppb (Figure 2). A total of 24 (2.2%), 11 (1%) and 9 (0.8%) soil samples returned anomalous Cu, Cr and Ni of ? 40 ppm, ?150 ppm and ? 70 ppm, respectively (Figure 3). 139 soil samples (12.6%) returned anomalous Au results of ? 20 ppb (Figure 4) which, in numerous instances, show corresponding anomalous Pt, Pd ?10 ppb.

Figure #2 - Anomalous Platinum and Palladium in Soils Map

Figure #3 - Anomalous Copper, Chromium, Nickel in Soils Map

Figure #4 - Anomalous Gold in Soils Map

Brian Howlett, CEO of Hemlo Explorers, commented, "We are excited to move Project Idaho to the drill stage, the planning for which is now well advanced. Exploration results from the 2022 season were positive and further strengthen the evolving story that Coldwell Complex-style mineralization similar to the neighbouring Marathon Pd-Cu deposit extend onto the western boundary of Project Idaho. We would also like to acknowledge the financial assistance of the Ministry of Northern Development and Mines through the Ontario Junior Exploration Program grant which covers up to $200,000 of our 2022 Project Idaho exploration costs."

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 Project Idaho, the Pic Project (optioned to a subsidiary of Barrick Gold Corporation), and the North Limb.

For more information please contact:

Brian Howlett, President & CEO
Hemlo Explorers Inc.
brian@hemloexplorers.ca
1 (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.

Maps accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4cf39a3d-ef5f-46ed-9d7d-de9af13da7fa
https://www.globenewswire.com/NewsRoom/AttachmentNg/9e24a311-a65f-4317-bb65-057f50222e91
https://www.globenewswire.com/NewsRoom/AttachmentNg/c1148334-3fe8-46ae-a021-09f719030e1b
https://www.globenewswire.com/NewsRoom/AttachmentNg/97870b5e-d9c5-418d-8c2a-a1d4e77ed080