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Harfang Exploration Corporate Presentation - November 2020

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Harfang Exploration is an active project generator focused on gold exploration in James Bay, Quebec. It has a well-funded treasury and strong support from Quebec institutional funds and Osisko Gold Royalties. Harfang's flagship Serpent project hosts a large gold-in-till anomaly covering over 8 square kilometers, with multiple high-grade gold showings in quartz veins. Drilling in 2021 will test several targets, including zones returning up to 7.78 g/t gold over 6.15 meters. The project also features copper-gold-silver mineralization at the Mista prospect. Harfang is well positioned to advance its projects and generate new opportunities in this underexplored region near recent gold discoveries.

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TSX.V: HAR AN ACTIVE PLAYER AND PROJECT GENERATOR IN JAMES BAY November 2020 WWW.HARFANGEXPLORATION.COM
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 Corporations 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 Corporations 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 Corporations 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 Companys common shares, dilution and certain anti-takeover effects. Such information contained herein represents managements 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. FORWARD-LOOKING STATEMENTS 2
PROJECT GENERATOR EARLY-STAGE PROJECTS GOLD FOCUSED IN JAMES BAY WELL FINANCED AND STRONG SUPPORT FROM QC FUNDS AND OSISKO HARFANG EXPLORATION HIGHLIGHTS 3
CAPITAL STRUCTURE & OWNERSHIP CAPITALIZATION Shares outstanding 48.8 million Warrants 8.7 million Options 1.7 million Fully diluted shares outstanding 59.2 million Treasury (as of July 31, 2020) $4.5 million OWNERSHIP Retail 35% Qu辿bec institutional funds 24% Osisko Gold Royalties Ltd. 14% Close associates 13% Board of directors & Management 6% 4 Figure as at November 1st, 2020
ANDR GAUMOND, CHAIRMAN Director at Altius Minerals Corporation and Former President & CEO of Virginia Mines JEAN-PIERRE JANSON, DIRECTOR Managing Director at Richardson GMP Limited and Chairman of the Board of Midland Exploration FRANK MARIAGE, DIRECTOR Partner at Fasken Martineau DuMoulin LLP SYLVIE PRUDHOMME, DIRECTOR Geologist and former Manager, Investor Relations for Osisko Mining Corporation ROBIN VILLENEUVE, DIRECTOR CFO at Opsens Inc. and ex-CFO of Virginia Mines FRANOIS GOULET, M.SC., P.GEO. President & CEO YVON ROBERT, CPA Chief financial officer MARC POTHIER, LL.B. Corporate secretary & Legal advisor FRANOIS HUOT, Ph.D., P.GEO. Chief geologist EXCEPTIONAL BOARD OF DIRECTORS & MANAGEMENT 5
EXPERIENCED & FIELD-ORIENTATED TEAM 6 HIGHLY EFFICIENT ON THE GROUND
OUR PROJECTS IN JAMES BAY 7 Good access & infrastructure Underexplored areas with gold potential Located near recent discoveries Proven collaboration with local communities
100% owned by Harfang, no NSR 552 claims (28,565 ha) located 80 km SE of Radisson, adjacent to the James Bay paved road Located 75 km northwest of l辿onore mine, adjacent to the La Grande-Opinaca contact Underexplored area prior to the creation of the property Archean basement intruded by felsic to ultramafic magmas, minor highly-deformed and metamorphosed volcano-sedimentary horizons (including the Apple Formation) Discovery of multiple orogenic gold (Au) and intrusion-related (Cu-Au-Ag) mineralizations Major gold-in-till anomaly (>8 km2) associated with gold showings SERPENT PROJECT OUR FLAGSHIP ASSET 8
Gold-in-till Anomaly 9 At least 35 Au occurrences (>1 g/t Au) grabs: up to 186 g/t Au channels: up to 7.78 g/t Au over 6.15 m 1 extensive Cu-Au-Ag prospect (Mista) with 0.99 % Cu, 0.2 g/t Au and 7.7 g/t Ag over 11.7 m Background: Residual Magnetic Field from GDS survey (2019) SERPENT - HIGHLIGHTS
10 222,58 g/t Au Vein 13% of the samples >50 gold grains (regional background: 3-5 gold grains) Scheelite is very abundant (high W content) MAJOR GOLD-IN-TILL ANOMALY (> 8 KM2)
11 Pristine gold grains = Mineralized bedrock source likely proximal HIGH RATIOS OF PRISTINE GOLD GRAINS IN TILL Gold in till sample E46238
MULTIPLE VISIBLE GOLD OCCURRENCES IN ROCKS 12 Gold Specks Visible gold in a quartz vein grading 222.58 g/t Au Sasquatch Area Sasquatch AreaAna
HUGE QUARTZ VEINS ASSOCIATED WITH SHEAR ZONES 13 NNW-SSE Extensional Vein (Drusy Quartz) E-W Shear Zone Vein 10 m Sasquatch Structure N Deformation corridors (5-10 m wide and up to 350 m long) are found inside or on the edge of the differentiated ultramafic to mafic intrusion spatially associated with the gold-in-till anomaly
14 OTHER MAJOR QUARTZ VEINS AND SHEAR ZONES 7.78 g/t Au over 6.15 m, including 24.06 g/t Au 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) 8.85 g/t Au and 2.10 g/t Au (TR-SER-20-007) Exploration camp 8.95 g/t Au over 0.45 m (TR-SER-20-005) TR-SER-20-001 Moby-Dick Structure (N245属/80属)
Map modified from Goutier et al. (1999) Previous mapping (before 2018) indicated only intermediate and felsic intrusive rocks, slivers of metasediments, no showing Since 2018, discovery of major gold-bearing deformation corridors associated with a differentiated ultramafic to dioritic intrusion NEW GEOLOGICAL MODEL 15 Gold-in-till Anomaly Differentiated Mafic Intrusion (NEW UNIT)
16 MAIN TRENCH 0.99% Cu, 0.20 g/t Au, 7.7 g/t Ag over 11.7 m (Channel) 1.47% Cu, 0.26 g/t Au, 12.8 g/t Ag (Grab) 1.56% Cu, 0.26 g/t Au, 9.0 g/t Ag (Grab) 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) Aerial view looking west Only grab samples with Cu >1% are shown The Mista corridor extends at least 350 m in a WNW-ESE direction 0.59% Cu, 0.25 g/t Au, 6.42 g/t Ag over 5.60 m (Channel) 0.59% Cu, 0.21 g/t Au, 7.66 g/t Ag over 2.05 m (Channel) 0.88% Cu, 0.12 g/t Au, 6.31 g/t Ag over 2.35 m (Channel) 0.25% Cu, 0.74 g/t Au, 2.12 g/t Ag over 3.30 m (Channel) Open Open CU-AU-AG MINERALIZATION
17 SERPENT BUDGET (2021) Serpent Project (Winter 2021 : 1,330,000$) IP survey and Grid cutting (60 km) = 312,000$ Drilling Campaign (4,000 m, approx. 30 DDH) = 1,018,000$ Serpent and other projects (Summer & Fall 2021 : 1,321,000$) [SUMMER & FALL] Excludes possible drilling campaign 2021 Budget : >2.65 M$ (excludes any drilling phases during summer and fall) DDH planned IP Survey
100% owned by Harfang (2% NSR Osisko Gold Royalties on most claims on Lake M辿narik) Located 48 km SE of Radisson Lake M辿narik = 110 claims (5,653 ha) / M辿narik East = 64 claims (3,289 ha) 5 km from James Bay 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 M辿narik] Layered ultramafic-mafic igneous complex with a Cr and PGE resource (not NI 43-101 compliant) [M辿narik East] Orogenic gold associated with listwanite and related rocks [M辿narik East] LAKE MNARIK & MNARIK EAST PROJECTS READY TO ADVANCE THROUGH PARTNERSHIP 18
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) LAKE MNARIK ABUNDANT GOLD OCCURRENCES 19
Favourable structures (DDH targets) LAKE MNARIK MONZONITE-ASSOCIATED GOLD 20 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 (Beno樽t) 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)
Brecciated, chloritized and hematized monzonite (2.35 g/t Au over 5.09 m) [Pierre showing] Gordie showing 12.46 g/t Au and 25.5 g/t Ag over 3.60 mPolygenic conglomerate (Ekomiak Formation) LAKE MNARIK ABUNDANT GOLD OCCURRENCES 21
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 MNARIK EAST CR-PGE AND AU SHOWINGS 22
MNARIK EAST OROGENIC GOLD POTENTIAL 23 The northern half of the Menarik Complex dips towards north Gold is mainly located in the felsic/mafic hanging wall of the Complex and favorably aligned into NNW-SSE structures Mineralization near the Complex is more polymetallic (Ni, Cu, 賊Co, Pb, Zn, Ag) and associated with carbonatized and silicified serpentinized peridotites (listwanites), abundant arsenopyrite 3 refers to extensional joints (賊faults) associated with the formation of an anticlinal dome The Camp and Lake Menarik faults were probably major conduits for gold transportation; untested first priority targets Menarik Complex
24 BONFAIT AND LA PASSE PROJECTS PROJECT SUMMARY 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 100% owned by Harfang; accessible by boat and air transportation Dominant lithologies include wacke and paragneiss with less common pegmatite and polygenic conglomerate Adjacent to the prolific contact between the La Grande and Opinaca subprovinces Straddles the limit between the greenschist and amphibolite facies No sustained historical exploration work Metallogenic model: Sediment-hosted disseminated gold similar to the l辿onore deposit and the La Pointe prospect Lake Sakami
PROJECT SUMMARY 68 claims (3,352 ha) located 60 km east of Kuujjuarapik and 160 km north of Radisson; access by air transportation Joint Venture between Harfang (40%), Kenorland Minerals Ltd. (40%) and UrbanGold Minerals Inc. (20%) Great Whale Archean greenstone belt defined over 16 km x 8 km 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 Sedimentary Rock Basalt Banded Iron Formation Great Whale greenstone belt Gold showing (SIGOM) Cuesta Esker LAKE FAGNANT PROJECT 25
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) LAKE FAGNANT GOLD AND POLYMETALLIC SHOWINGS 26
PROJECT SUMMARY 143 claims (6,720 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 1950s to late 1980s, 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) Mag-Spectro (2011, MERN) Calculated resources are not compliant with NI 43-101 LAKE AULNEAU PROJECT 27
WWW.HARFANGEXPLORATION.COM TSX-V: HAR For more information, please contact: Fran巽ois Goulet, P.Geo, M.Sc. President & CEO 514 627-1406 Email: fgoulet@harfangexploration.com www.harfangexploration.com 28

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Harfang Exploration Corporate Presentation - November 2020

  • 1. TSX.V: HAR AN ACTIVE PLAYER AND PROJECT GENERATOR IN JAMES BAY November 2020 WWW.HARFANGEXPLORATION.COM
  • 2. 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 Corporations 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 Corporations 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 Corporations 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 Companys common shares, dilution and certain anti-takeover effects. Such information contained herein represents managements 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. FORWARD-LOOKING STATEMENTS 2
  • 3. PROJECT GENERATOR EARLY-STAGE PROJECTS GOLD FOCUSED IN JAMES BAY WELL FINANCED AND STRONG SUPPORT FROM QC FUNDS AND OSISKO HARFANG EXPLORATION HIGHLIGHTS 3
  • 4. CAPITAL STRUCTURE & OWNERSHIP CAPITALIZATION Shares outstanding 48.8 million Warrants 8.7 million Options 1.7 million Fully diluted shares outstanding 59.2 million Treasury (as of July 31, 2020) $4.5 million OWNERSHIP Retail 35% Qu辿bec institutional funds 24% Osisko Gold Royalties Ltd. 14% Close associates 13% Board of directors & Management 6% 4 Figure as at November 1st, 2020
  • 5. ANDR GAUMOND, CHAIRMAN Director at Altius Minerals Corporation and Former President & CEO of Virginia Mines JEAN-PIERRE JANSON, DIRECTOR Managing Director at Richardson GMP Limited and Chairman of the Board of Midland Exploration FRANK MARIAGE, DIRECTOR Partner at Fasken Martineau DuMoulin LLP SYLVIE PRUDHOMME, DIRECTOR Geologist and former Manager, Investor Relations for Osisko Mining Corporation ROBIN VILLENEUVE, DIRECTOR CFO at Opsens Inc. and ex-CFO of Virginia Mines FRANOIS GOULET, M.SC., P.GEO. President & CEO YVON ROBERT, CPA Chief financial officer MARC POTHIER, LL.B. Corporate secretary & Legal advisor FRANOIS HUOT, Ph.D., P.GEO. Chief geologist EXCEPTIONAL BOARD OF DIRECTORS & MANAGEMENT 5
  • 6. EXPERIENCED & FIELD-ORIENTATED TEAM 6 HIGHLY EFFICIENT ON THE GROUND
  • 7. OUR PROJECTS IN JAMES BAY 7 Good access & infrastructure Underexplored areas with gold potential Located near recent discoveries Proven collaboration with local communities
  • 8. 100% owned by Harfang, no NSR 552 claims (28,565 ha) located 80 km SE of Radisson, adjacent to the James Bay paved road Located 75 km northwest of l辿onore mine, adjacent to the La Grande-Opinaca contact Underexplored area prior to the creation of the property Archean basement intruded by felsic to ultramafic magmas, minor highly-deformed and metamorphosed volcano-sedimentary horizons (including the Apple Formation) Discovery of multiple orogenic gold (Au) and intrusion-related (Cu-Au-Ag) mineralizations Major gold-in-till anomaly (>8 km2) associated with gold showings SERPENT PROJECT OUR FLAGSHIP ASSET 8
  • 9. Gold-in-till Anomaly 9 At least 35 Au occurrences (>1 g/t Au) grabs: up to 186 g/t Au channels: up to 7.78 g/t Au over 6.15 m 1 extensive Cu-Au-Ag prospect (Mista) with 0.99 % Cu, 0.2 g/t Au and 7.7 g/t Ag over 11.7 m Background: Residual Magnetic Field from GDS survey (2019) SERPENT - HIGHLIGHTS
  • 10. 10 222,58 g/t Au Vein 13% of the samples >50 gold grains (regional background: 3-5 gold grains) Scheelite is very abundant (high W content) MAJOR GOLD-IN-TILL ANOMALY (> 8 KM2)
  • 11. 11 Pristine gold grains = Mineralized bedrock source likely proximal HIGH RATIOS OF PRISTINE GOLD GRAINS IN TILL Gold in till sample E46238
  • 12. MULTIPLE VISIBLE GOLD OCCURRENCES IN ROCKS 12 Gold Specks Visible gold in a quartz vein grading 222.58 g/t Au Sasquatch Area Sasquatch AreaAna
  • 13. HUGE QUARTZ VEINS ASSOCIATED WITH SHEAR ZONES 13 NNW-SSE Extensional Vein (Drusy Quartz) E-W Shear Zone Vein 10 m Sasquatch Structure N Deformation corridors (5-10 m wide and up to 350 m long) are found inside or on the edge of the differentiated ultramafic to mafic intrusion spatially associated with the gold-in-till anomaly
  • 14. 14 OTHER MAJOR QUARTZ VEINS AND SHEAR ZONES 7.78 g/t Au over 6.15 m, including 24.06 g/t Au 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) 8.85 g/t Au and 2.10 g/t Au (TR-SER-20-007) Exploration camp 8.95 g/t Au over 0.45 m (TR-SER-20-005) TR-SER-20-001 Moby-Dick Structure (N245属/80属)
  • 15. Map modified from Goutier et al. (1999) Previous mapping (before 2018) indicated only intermediate and felsic intrusive rocks, slivers of metasediments, no showing Since 2018, discovery of major gold-bearing deformation corridors associated with a differentiated ultramafic to dioritic intrusion NEW GEOLOGICAL MODEL 15 Gold-in-till Anomaly Differentiated Mafic Intrusion (NEW UNIT)
  • 16. 16 MAIN TRENCH 0.99% Cu, 0.20 g/t Au, 7.7 g/t Ag over 11.7 m (Channel) 1.47% Cu, 0.26 g/t Au, 12.8 g/t Ag (Grab) 1.56% Cu, 0.26 g/t Au, 9.0 g/t Ag (Grab) 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) Aerial view looking west Only grab samples with Cu >1% are shown The Mista corridor extends at least 350 m in a WNW-ESE direction 0.59% Cu, 0.25 g/t Au, 6.42 g/t Ag over 5.60 m (Channel) 0.59% Cu, 0.21 g/t Au, 7.66 g/t Ag over 2.05 m (Channel) 0.88% Cu, 0.12 g/t Au, 6.31 g/t Ag over 2.35 m (Channel) 0.25% Cu, 0.74 g/t Au, 2.12 g/t Ag over 3.30 m (Channel) Open Open CU-AU-AG MINERALIZATION
  • 17. 17 SERPENT BUDGET (2021) Serpent Project (Winter 2021 : 1,330,000$) IP survey and Grid cutting (60 km) = 312,000$ Drilling Campaign (4,000 m, approx. 30 DDH) = 1,018,000$ Serpent and other projects (Summer & Fall 2021 : 1,321,000$) [SUMMER & FALL] Excludes possible drilling campaign 2021 Budget : >2.65 M$ (excludes any drilling phases during summer and fall) DDH planned IP Survey
  • 18. 100% owned by Harfang (2% NSR Osisko Gold Royalties on most claims on Lake M辿narik) Located 48 km SE of Radisson Lake M辿narik = 110 claims (5,653 ha) / M辿narik East = 64 claims (3,289 ha) 5 km from James Bay 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 M辿narik] Layered ultramafic-mafic igneous complex with a Cr and PGE resource (not NI 43-101 compliant) [M辿narik East] Orogenic gold associated with listwanite and related rocks [M辿narik East] LAKE MNARIK & MNARIK EAST PROJECTS READY TO ADVANCE THROUGH PARTNERSHIP 18
  • 19. 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) LAKE MNARIK ABUNDANT GOLD OCCURRENCES 19
  • 20. Favourable structures (DDH targets) LAKE MNARIK MONZONITE-ASSOCIATED GOLD 20 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 (Beno樽t) 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)
  • 21. Brecciated, chloritized and hematized monzonite (2.35 g/t Au over 5.09 m) [Pierre showing] Gordie showing 12.46 g/t Au and 25.5 g/t Ag over 3.60 mPolygenic conglomerate (Ekomiak Formation) LAKE MNARIK ABUNDANT GOLD OCCURRENCES 21
  • 22. 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 MNARIK EAST CR-PGE AND AU SHOWINGS 22
  • 23. MNARIK EAST OROGENIC GOLD POTENTIAL 23 The northern half of the Menarik Complex dips towards north Gold is mainly located in the felsic/mafic hanging wall of the Complex and favorably aligned into NNW-SSE structures Mineralization near the Complex is more polymetallic (Ni, Cu, 賊Co, Pb, Zn, Ag) and associated with carbonatized and silicified serpentinized peridotites (listwanites), abundant arsenopyrite 3 refers to extensional joints (賊faults) associated with the formation of an anticlinal dome The Camp and Lake Menarik faults were probably major conduits for gold transportation; untested first priority targets Menarik Complex
  • 24. 24 BONFAIT AND LA PASSE PROJECTS PROJECT SUMMARY 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 100% owned by Harfang; accessible by boat and air transportation Dominant lithologies include wacke and paragneiss with less common pegmatite and polygenic conglomerate Adjacent to the prolific contact between the La Grande and Opinaca subprovinces Straddles the limit between the greenschist and amphibolite facies No sustained historical exploration work Metallogenic model: Sediment-hosted disseminated gold similar to the l辿onore deposit and the La Pointe prospect Lake Sakami
  • 25. PROJECT SUMMARY 68 claims (3,352 ha) located 60 km east of Kuujjuarapik and 160 km north of Radisson; access by air transportation Joint Venture between Harfang (40%), Kenorland Minerals Ltd. (40%) and UrbanGold Minerals Inc. (20%) Great Whale Archean greenstone belt defined over 16 km x 8 km 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 Sedimentary Rock Basalt Banded Iron Formation Great Whale greenstone belt Gold showing (SIGOM) Cuesta Esker LAKE FAGNANT PROJECT 25
  • 26. 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) LAKE FAGNANT GOLD AND POLYMETALLIC SHOWINGS 26
  • 27. PROJECT SUMMARY 143 claims (6,720 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 1950s to late 1980s, 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) Mag-Spectro (2011, MERN) Calculated resources are not compliant with NI 43-101 LAKE AULNEAU PROJECT 27
  • 28. WWW.HARFANGEXPLORATION.COM TSX-V: HAR For more information, please contact: Fran巽ois Goulet, P.Geo, M.Sc. President & CEO 514 627-1406 Email: fgoulet@harfangexploration.com www.harfangexploration.com 28