Hemlo Explorers Announces Receipt of Final Tranche of OJEP Grant

Press Release

TORONTO, February 29, 2024 – Hemlo Explorers Inc. (the “Company”) (TSXV: HMLO) is pleased to announce that it has received the final tranche of the $200,000 that it was awarded under the Ontario Junior Exploration Program (“OJEP”) from the Ontario Government. This amount covered up to 50% of eligible exploration costs, to a maximum of $200,000 in respect of expenditures incurred by the Company during the period from April 1, 2023 to February 15, 2024.

“We would like to thank the Ontario Government for this funding under the OJEP program.  It is a vital part of financing our projects,” commented Brian Howlett, President and CEO of the Company.

Through OJEP, the Ontario Government is investing in early exploration to create meaningful opportunities for junior companies to find the mines of the future. Incentivizing early exploration will help our province remain globally competitive, find new deposits of critical minerals, and create new economic development and job opportunities for northern and Indigenous communities.

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, including Project Idaho, the Pic Project 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

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