AN ACTIVE PLAYER AND PROJECT GENERATOR IN EEYOU ISTCHEE JAMES BAY - TSX.V: HAR - Corporate Presentation
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www.harfangexploration.com
TSX.V: HAR
AN ACTIVE PLAYER AND
PROJECT GENERATOR
IN EEYOU ISTCHEE JAMES BAY
Corporate Presentation
September 2021
1
FORWARD-LOOKING STATEMENTS
Certain statements contained in this presentation may be deemed "forward-looking statements“ within the meaning of applicable Canadian and U.S. securities laws. All statements in this
presentation, other than statements of historical fact, that address future events, developments or performance that Harfang Exploration Inc. (the "Corporation” or “Harfang” ) expects
to occur, including managements’ expectations regarding the Corporation’s growth, results of operations, estimated future revenues, requirements for additional capital, mineral reserve
and mineral resource estimates, production estimates, gold equivalent ounces, production costs and revenue, future demand for and prices of commodities, business prospects and
opportunities are forward looking statements based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions will be realized. Forward
looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential", "scheduled" and similar expressions or variations (including negative variations), or that events or conditions "will", "would", "may", "could" or
"should" occur including, without limitation, that all conditions precedent to the closing of the transaction between the Corporation and Orion Mine Finance Group (the "Transaction") will
be met and the realization of the anticipated benefits deriving therefrom for shareholders of the Corporation, the view on the quality and the potential of the Corporation’s assets.
Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown
risks, uncertainties and other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in forward looking statements. The
forward-looking statements contained in this presentation are based upon assumptions management believes to be reasonable. For additional information on risks, uncertainties and
assumptions, please refer to the Corporation’s most recent Annual Information Form filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. The Corporation cautions that the
foregoing list of risk and uncertainties is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the
above factors as well as the uncertainties they represent and the risk they entail. The Corporation believes that the expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied
upon. These statements speak only as of the date of this presentation. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, other than as required by applicable law.
Safe Harbour Statement
Certain statements in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities
legislation. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the
Company, or other future events, including forecast production, earnings and cash flows, to be materially different from any future results, performances or achievements or other events
expressly or implicitly predicted by such forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to, factors associated with fluctuations in the
market price of precious metals, mining industry risks, recent operating losses, uncertainty of title to properties, risk associated with foreign operations, environmental risks and hazards,
proposed legislation affecting the mining industry, litigation, governmental regulation of the mining industry, properties without known mineable reserves, uncertainty as to calculations
of reserves, mineral deposits and grades, requirement of additional financing, uninsured risks, competition, dependence on key management personnel, potential volatility of market
price of the Company’s common shares, dilution and certain anti-takeover effects. Such information contained herein represents management’s best judgment as of the date hereof
based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.
2
A JUNIOR ON THE RISE
▪ MISSION
✓ Generating new gold districts in
Eeyou Istchee James Bay, Québec
▪ DEVELOPMENT MODEL
✓ Generation of new mining projects
✓ Advancing greenfield projects
trough field investigation
✓ Partnerships on its properties
▪ EXCELLENT CASH POSITION
3
ACTIVE GOLD PROJECTS IN EEYOU ISTCHEE JAMES BAY
▪ Close to significant gold
discoveries
▪ Underexplored territory
▪ Located on key geological domains
(greenstone belts, major tectonic
boundaries)
▪ Good access & infrastructures
▪ Proven collaboration with local
communities
4
WELL FINANCED AND STRONG SUPPORT
CAPITALIZATION OWNERSHIP
Shares outstanding 68.4 million Retail 40%
Warrants 9.4 million Québec institutional funds 30%
Options 2.2 million Osisko Gold Royalties Ltd. 9.9%
Fully diluted shares outstanding 77.8 million
Close associates 14%
Treasury (as of April 30, 2021) $7.2 million
Board of directors & Management 6%
Financing (June 2021) $2.0 million
5
Figure as of September 2, 2021
SKILLED BOARD OF DIRECTORS & MANAGEMENT
ANDRÉ GAUMOND, CHAIRMAN
Director at Altius Minerals Corporation and
Former President & CEO of Virginia Mines FRANÇOIS GOULET, P.GEO., MSC
President & CEO
JEAN-PIERRE JANSON, DIRECTOR
Managing Director at Richardson GMP Limited
and Chairman of the Board of Midland
Exploration FRANÇOIS HUOT, P.GEO., PHD
VP Exploration
FRANK MARIAGE, DIRECTOR
Partner at Fasken Martineau DuMoulin LLP
YVON ROBERT, CPA
Chief financial officer
SYLVIE PRUD’HOMME, DIRECTOR
Geologist and former Manager, Investor Relations
for Osisko Mining Corporation
MARC POTHIER, LL.B.
Corporate secretary
& Legal advisor
ROBIN VILLENEUVE, DIRECTOR
CFO at Opsens Inc. and ex-CFO of Virginia Mines
6
EXPERIENCED & FIELD-ORIENTATED TEAM
HIGHLY EFFICIENT ON THE GROUND
7
SERPENT PROJECT
OUR FLAGSHIP ASSET
▪ Wholly owned by Harfang, no NSR
▪ 845 claims (43,452 ha) located 80 km SE of
Radisson, adjacent to the Billy-Diamond paved
road
▪ Located 75 km northwest of Éléonore mine,
adjacent to the La Grande-Opinaca contact
▪ Underexplored area prior to the creation of the
property
▪ Archean tonalitic basement and highly-
deformed and metamorphosed volcano-
sedimentary horizons (including the Apple
Formation) intruded by weakly deformed and
metamorphosed ultramafic to felsic rocks
▪ Discovery of multiple orogenic gold (Au) and
intrusion-related (Cu-Au-Ag) mineralizations
▪ Major gold-in-till anomaly (>8 km2) associated
with gold showings and gold-rich soils
▪ Maiden drill program during winter 2021
▪ NOW DRILLING – Second phase (summer and
fall / 3,500 m)
8
SERPENT PROJECT
GOLD INTERVALS – 1st DRILL PROGRAM
• Gold intervals appear to be controlled by two N290°
structures
9
SERPENT PROJECT
HIGH GRADE GOLD RESULTS – PROPERTY SCALE
Background: Residual Magnetic Field from GDS survey (2019) 10SERPENT PROJECT
OUTSTANDING GOLD-IN-TILL ANOMALY (> 8 KM2)
• 30% of the samples inside the anomaly contour have >50 gold grains (regional background: 3-5 gold grains)
• Abundant scheelite (high W content) and schorl locally
Quantity of gold grains in till after adjusting the table feed weights (fractionSERPENT PROJECT
HIGH RATIOS OF PRISTINE GOLD GRAINS IN TILL
▪ Pristine gold grains = Mineralized bedrock source likely proximal
Gold in till sample E46238
12SERPENT PROJECT
MULTIPLE VISIBLE GOLD OCCURRENCES IN ROCKS
Powerline Area Sasquatch Area
Sasquatch Area
Gold Specks
Visible gold in a quartz vein
grading 222.58 g/t Au
13SERPENT PROJECT
HUGE QUARTZ VEINS AND SHEAR ZONES
▪ Deformation corridors (5-10 m wide and up to 1 km long) are found inside or on the edge of a differentiated dioritic
intrusion spatially associated with the gold-in-till anomaly
Tétras Structure (N230°/85°)
Sasquatch Structure (N245°/85°)
14SERPENT PROJECT
HUGE QUARTZ VEINS AND SHEAR ZONES
24.91 g/t Au (boulder up-ice from TR-SER-20-005) Moby-Dick Structure (N245°/80°)
18.75 g/t Au over 0.55 m, 17.07 g/t over 0.35 m ▪ 7.78 g/t Au over 6.15 m, including 24.06 g/t Au
and 8.95 g/t Au over 0.45 m (TR-SER-20-005) over 1.8 m and 2.00 g/t Au over 2.25 m
7.78 g/t Au over 6.15 m (TR-SER-20-001) TR-SER-20-001
Exploration camp (2020)
8.85 g/t Au and 2.10 g/t Au (TR-SER-20-007)
15SERPENT PROJECT
CU-AU-AG (±BI±TE) MINERALIZATION AT MISTA
▪ The Mista corridor extends at least 350 m in a WNW-ESE direction
Aerial view looking west
0.59% Cu, 0.25 g/t Au, 6.42 g/t Ag over 5.60 m (Channel)
MAIN TRENCH
0.59% Cu, 0.21 g/t Au, 7.66 g/t Ag over 2.05 m (Channel)
0.99% Cu, 0.20 g/t Au, 7.7 g/t Ag over 11.7 m (Channel)
0.88% Cu, 0.12 g/t Au, 6.31 g/t Ag over 2.35 m
(Channel)
Open
1.56% Cu, 0.26 g/t Au, 9.0 g/t Ag
(Grab)
0.25% Cu, 0.74 g/t Au, 2.12 g/t Ag 1.47% Cu, 0.26 g/t Au, 12.8 g/t Ag (Grab)
over 3.30 m (Channel)
1.17% Cu, 0.31 g/t Au, 7.6 g/t Ag (Grab)
1.69% Cu, 0.96 g/t Au, 15.4 g/t Ag (Grab)
Open
Only grab samples with Cu >1% are shown
16SERPENT PROJECT
A NEW METALLOGENIC MODEL
Discovery of major gold-bearing deformation corridors associated with a large differentiated
ultramafic to dioritic intrusion and younger mafic dykes
Till Sample
Gold Showing
Mafic Dyke Swarm
Ultramafic intrusion
« The Snake »
Tonalitic gneiss
Differentiated intrusion
(~10 km2)
Paragneiss/Quartzite Pegmatite
17
Map modified from Goutier et al. (1999)2021 EXPLORATION BUDGET
OUR MOST ACTIVE YEAR
EXPLORATION BUDGET ON SERPENT
$3,000,000
Serpent Project
▪ Induced Polarization Survey
▪ Prospecting and Geological Mapping
▪ Geochemical Surveys (B-Horizon and Till)
▪ Mechanical Trenching
▪ Channel Sampling
▪ LiDAR Survey
▪ 2 Drill programs
✓ Winter: 4,336 m
✓ Summer/Fall: 3,500 m
Other Projects
▪ Prospecting (Bonfait)
▪ LiDAR Survey (Pontax)
18TSX-V: HAR
WWW.HARFANGEXPLORATION.COM
For more information, please contact:
François Goulet, P.Geo, M.Sc.
President & CEO
514 627-1406
Email: fgoulet@harfangexploration.com
19
www.harfangexploration.comAPPENDICES
20LAKE MÉNARIK & MÉNARIK EAST PROJECTS
READY FOR PARTNERSHIP
▪ Wholly owned by Harfang (2% NSR Osisko Gold
Royalties on most claims on Lake Ménarik)
▪ Located 48 km SE of Radisson
▪ Lake Ménarik = 110 claims (5,653 ha) / Ménarik
East = 64 claims (3,289 ha)
▪ 5 km from Billy-Diamond paved road, properties
accessible by ATV trails
▪ Archean greenstone belt (Yasinski Group)
▪ Polymictic conglomerate (Timiskaming-style)
along a regional deformation corridor
▪ Monzonite-hosted and orogenic gold
mineralization styles [Lake Ménarik]
▪ Layered ultramafic-mafic igneous complex with
Cr, Ni and PGE resources (not NI 43-101
compliant) [Ménarik East]
▪ Orogenic gold associated with listwanite and
related rocks [Ménarik East]
21LAKE MÉNARIK PROJECT
ABUNDANT GOLD OCCURRENCES
▪ Very high-grade gold occurrences in quartz veins (up to 1,918 g/t Au) hosted in monzonite and adjacent volcano-
sedimentary assemblage; higher gold grades in monzonite
▪ Gold commonly associated with high contents in Ag, Te and Bi, locally with Cu
▪ The Lake Menarik fault represents a sharp metamorphic contrast (greenschist to amphibolite facies)
22LAKE MÉNARIK PROJECT
GOLD IN AND AROUND THE MONZONITE INTRUSION
Some of the best mineralized intervals
(DDH and Trenches)
DDH/Trench Intervals
DDH-1404-03 0.89 g/t Au over 68.25 m (Pierre)
DDH-1404-05 2.53 g/t Au over 4.72 m (Benoît)
DDH-1404-17 0.76 g/t Au over 34.28 m; 0.75 g/t Au over 10.44 m (Pierre)
Channel 12.46 g/t Au and 25.5 g/t Ag over 3.60 m (Gordie)
Channel 18.75 g/t Au, 31.1 g/t Ag and 0.41% Cu over 0.88 m (David)
Channel 1.04 g/t Au over 24.9 m (Greco)
Favourable structures
(DDH targets)
23LAKE MÉNARIK PROJECT
MAGMATIC-HYDROTHERMAL AND OROGENIC MODELS
Brecciated, chloritized and hematized monzonite (2.35 g/t Au over 5.09 m) Shear-hosted quartz veining at Gordie showing
[Pierre showing] 12.46 g/t Au and 25.5 g/t Ag over 3.60 m
Polygenic conglomerate (Ekomiak Formation) with altered monzonite fragments 12.46 g/t Au and 25.5 g/t Ag over 3.60 m
24MÉNARIK EAST PROJECT
CR-PGE & AU SHOWINGS IN AND AROUND THE MENARIK COMPLEX
Calculated resources* in the Menarik layered
ultramafic complex : 6.335 Mt @ 7.73% Cr2O3,
398 ppb Pd & 105 ppb Pt
*Not compliant with NI 43-101
25BONFAIT AND LA PASSE PROJECTS
Rusty quartz veins in laminated wacke
▪ Located 90 km SE of Radisson and adjacent to Lake
Sakami; Bonfait claims are 2 km south of the
Transtaiga road and the La Grande-3 airport
▪ Bonfait (194 claims; 9,940 ha) and La Passe (80
claims; 4,117 ha) projects are wholly owned by
Harfang; accessible by boat and air transportation
▪ Dominant lithologies include wacke/arkose and
paragneiss with less common pegmatite and
polygenic conglomerate
▪ Adjacent to the prolific contact between the La
Grande and Opinaca subprovinces
▪ Straddle the limit between the greenschist and
amphibolite facies
▪ No sustained historical exploration work Brecciated arkose filled with semi-massive pyrite in the matrix
▪ Geological and metallogenic settings are suitable for
sediment-hosted disseminated gold similar to the
Éléonore deposit and the La Pointe prospect
26LAKE FAGNANT PROJECT
▪ 68 claims (3,352 ha) located 60 km east of Great Whale greenstone belt
Kuujjuarapik and 160 km north of Radisson; Banded Iron Formation
access by air transportation Sedimentary Rock
▪ Joint Venture between Harfang (40%), Basalt
Kenorland Minerals Ltd. (40%) and Troilus
Esker Gold showing (SIGÉOM)
Gold Corp (20%)
▪ Great Whale Archean greenstone belt
defined over 16 km x 8 km
Cuesta
▪ Dominated by mafic volcanics; minor
terrigenous and orthochemical sedimentary
rocks, felsic lavas, and ultramafic and felsic
intrusions; major iron formations in the
south
▪ Many high-grade gold showings
(mesothermal shear zones and possible syn-
volcanic Au-rich VMS/intrusion-hosted
system)
▪ Gold and polymetallic occurrences aligned
on two structural trends (Esker and Cuesta)
▪ Channels up to 3.6 g/t Au over 8.8 m and
18.19 g/t over 0.54 m
▪ Never been drilled
27LAKE FAGNANT PROJECT
GOLD AND POLYMETALLIC SHOWINGS
▪ Except for one mineralized site, all showings were discovered during historical exploration work (1997 to
2000)
▪ Field visit by Harfang and Kenorland in 2018 confirmed the high-grade gold and polymetallic mineralizations;
discovery of one showing (3.22 g/t Au and 1.8 g/t Ag)
28LAKE AULNEAU PROJECT
A CU-NI-PGE RESOURCE IN THE LABRADOR TROUGH
PROJECT SUMMARY
▪ 85 claims (3,995 ha); 125 km south of Kuujjuaq and
265 km NNW of Schefferville
▪ 100% Harfang; no NSR
▪ Access by air transportation
▪ 5 significant Cu-Ni-PGE prospects in the Labrador
Trough
✓ Marymac II
✓ Marymac [Lepage/Island/Marymac I]
✓ Float
✓ Redcliff
✓ Nine South
▪ One of the largest Ni-Cu-PGE resources in the
Labrador Trough
▪ Historical work from 1950’s to late 1980’s, more than
160 DDH (last drilling phase in 1988)
▪ 3 recent airborne geophysical surveys with only
limited follow-up on the ground
✓ AeroTEM II (2003)
✓ VTEM (2011) Calculated resources are not
compliant with NI 43-101
✓ Mag-Spectro (2011, MERN)
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