Harfang Acquires the LAC Fagnant Property and Enters into a Joint Venture Agreement with Kenorland Minerals
HARFANG ACQUIRES THE LAC FAGNANT PROPERTY AND ENTERS INTO A JOINT
VENTURE AGREEMENT WITH KENORLAND MINERALS
Montréal, January 18, 2018. Harfang Exploration Inc. (“Harfang”) (TSX-V: HAR) is pleased to
announce the generation of a new mining exploration property and execution of a joint venture
agreement with Kenorland Minerals Ltd. (“Kenorland”).
An aggregate of 74 mining claims, totaling 3,648 hectares and located within the northwestern
portion of the Great Whale Archean greenstone belt in the Bienville Subprovince of the Superior
Province, were recently staked by map designation by Harfang and Kenorland with the Ministère
de l’Énergie et des Ressources du Québec (the “MERN”) and are currently pending registration
(the “Lac Fagnant Property”). The Lac Fagnant Property lies in the Nunavik territory, 55 km east
of Kuujjuarapik on the east coast of Hudson Bay, Québec.
History
The most r ecent exploration carried out by Virginia Mines Inc. in 1999-2000 involved airborne
MAG-EM survey, ground-based MAG and IP surveys, regional mapping, detailed mapping of gold
mineralized areas, systematic rock sampling (grab and channel) on a gridline, trenching and till
sampling. This enabled the recognition of more than six (6) significant gold showings mostly found
within sheared metabasalts of the Fagnant Group.
Gold Mineralization
Gold showings are mainly concentrated along t he EW-trending Esker and Cuesta alteration
corridors, each 10 m-thick, extending along strike for 1 km. These corridors consist of alternating
unaltered, foliated pillowed basalts intercalated with hyaloclastite breccias and highly schistosed
bands. Mineralization consists of disseminated pyrite and/or arsenopyrite with minor amount of
pyrrhotite and chalcopyrite providing significant gold values (1.56 to 48.27 g/t Au).
Joint Venture Agreement with Kenorland Minerals Ltd.
On January 16, 2018, a joint venture agreement was executed by Harfang and Kenorland
regarding the Lac Fagnant Property, with the initial participating interests set forth as follows:
Harfang (50%) and Kenorland (50%). The operator of the joint venture will be Harfang for as long
as its participating interest is equal to or greater than Kenorland’s . If a participating interest is
diluted to less than 10%, it will be converted into a 1% NSR royalty (the “Royalty”). The remaining
participant will have the right to buy-back half of the Royalty (0.5% NSR) for $500,000 or, under
certain circumstances, the aggregate Royalty (1% NSR) for $1,000,000.
François Goulet, President and CEO of Harfang stated: “Harfang is particularly pleased with the
generation of this accessible exploration property in Québec’s Far North regi on with significant
gold values and potential within the Great Whale Archean greenstone belt. The joint venture
agreement with Kenorland, a new dynamic and upcoming junior exploration company,
corresponds well with Harfang ’s objectives of developing mining properties located in Northern
Québec.”
About Harfang
Harfang is a mining exploration company whose primary mission is to discover new gold districts
in the province of Qu ébec. Harfang’s development model is based on the generation of new
mining projects and on the establishment of partnerships with major exploration and mining
companies to advance its exploration projects.
About Kenorland
Kenorland is a Canadian -based mineral exploration company with a goal to be a leader in the
next generation of discoveries. Kenorland is a project generator seeking partners to fund early -
stage exploration in order to minimize financial risk and maximize exposure to potential
discoveries.
This press release has been prepared by François Goulet, P.Geo., President and CEO, a
“qualified person” as defined by NI 43 -101. For further information, please consult Harfang’s
website or contact:
François Goulet, President and Chief Executive Officer
Tel: 514 940-0670 #339
Email : [email protected]
Web : www.harfangexploration.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This press release may contain forward -looking statements that are subject to known and
unknown risks and uncertainties that could cause actual results to vary materially from targeted
results. Such risks and uncertainties include those described in Harfang’s periodic reports
including the filings made by Harfang from time to time with securities regulatory authorities.