A NEW PLAYER AND PROJECT GENERATORACTIVE IN JAMES … · 2018. 1. 21. · Corporate Presentation 2018 Vancouver Resource ... chalcopyrite, rare galena) in veins and host rock Lake

Corporate Presentation

2018 Vancouver Resource Investment ConferenceJANUARY 2017

A NEW PLAYER AND PROJECT GENERATOR ACTIVE IN JAMES BAY

TSX-V: HAR

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, otherthan 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 andassumptions, 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 thatevents 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 MineFinance 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 theCorporation’s assets. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknownrisks, 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 lookingstatements contained in this presentation are based upon assumptions management believes to be reasonable. For additional information on risks, uncertainties and assumptions, please refer to theCorporation’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 notexhaustive. 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 riskthey 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 andsuch 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 topublicly 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, includingforecast 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-lookingstatements. 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 miningindustry, properties without known mineable reserves, uncertainty as to calculations of reserves, mineral deposits and grades, requirement of additional financing, uninsured risks, competition, dependenceon 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’sbest 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.

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Harfang Exploration Inc. is a mining exploration company listed on the TSX ("HAR") exploring emerging gold districts in the province of Québec.

ABOUT HARFANG

PROJECT GENERATOR PARTNERSHIPS ON ITS PROPERTIES STRATEGIC ACQUISITIONS

WHY INVEST IN HARFANG Excellent share structure with strong support from the

Osisko Group & Québec Institutional Funds

Well financed with $2.5 million in working capital, no debt

Properties 100%-owned by Harfang

Experienced & field-oriented team

Exceptional Board of Directors & management

Focused on gold exploration in JAMES BAY

Developing early-stage gold properties

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BOARD OF DIRECTORS

ANDRÉ GAUMOND, CHAIRMAN

Director at Osisko Gold Royalties and ex-President 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 and Chairman of the Québec Mineral Exploration Association

SYLVIE PRUD’HOMMEDIRECTOR

Geologist and former Manager, InvestorRelations, for Osisko Mining Corporation

ROBIN VILLENEUVEDIRECTOR

CFO at Opsens Inc. and ex-CFO of Mines Virginia Inc.

FRANÇOIS GOULET, M.SC., P.GEO.PRESIDENT & CEO

MANAGEMENT

YVON ROBERT, CPACHIEF FINANCIAL OFFICER

MARC POTHIER, LL.B.CORPORATE SECRETARY& LEGAL ADVISOR

EXCEPTIONAL BOARD OF DIRECTORS & MANAGEMENT

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SHARE STRUCTURE + TREASURY

PRICE: $0,24

HIGH – LOW (since June 30th 2018):$0.35 - $0.22

SHARE OUTSTANDING:28 M

Options: 672,500 Warrants: 3,821,000 Market Cap: $6,7M

QC INSTITUTIONNAL FUNDS

26%

OSISKO GOLD ROYALTIES

18%

BOARD OF DIRECTORS & MANAGEMENT

8%

FRIENDLYHANDS

33%

AS AT JANUARY 10, 2018

OWNERSHIP

TREASURY

CASH: $2,4 MILLION

LONG-TERM DEBT: $0

TSX-V: HAREXPLORATIONUPDATE ON MÉNARIK

SERPENT PROPERTY

ACQUISITION

RTO & $2.7MFINANCING

PROJECTS IN JAMES BAY

1. http://www.sdbj.gouv.qc.ca/fr/offre-de-financement/secteur-minier/projetsminiers/2. Modifié from http://www.mrif.gouv.qc.ca/en/Grands-dossiers/Plan-Nord/3. https://www.lafrontiere.ca/actualites/economie/2017/5/10/eleonore--la-mine-de-tous-les-defis.html

TERRITOIRE DE LA BAIE JAMES

GOLDCORP ELEONORE MINE

Resources & reserves

JAMES BAY TERRITORY

MENARIK PROJECT

SERPENT PROJECT

LAC FAGNANT

GOOD ACCESS & INFRASTRUCTURE

UNDEREXPLORED AREA

NEARBY RECENT DISCOVERIES

World-Class Gold Discovery

GOLDCORP ÉLÉONORE MINE

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MÉNARIK EST

LAC MÉNARIK

5 km

Camp

Camp

LAC MÉNARIK AND MÉNARIK EAST PROPERTIES – INFRASTRUCTURE

Properties located 48 km southeast of Radisson / 100%-owned by Harfang (2% NSR Osisko Gold Royalties on Lac Ménarik) Lac Ménarik = 91 claims (46.76 km2) / Ménarik East = 68 claims (34.94 km2) Two electric transmission lines run through claims Near intersection between James Bay paved and Transtaiga gravel roads

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Tonalite

Basalt

LAC MÉNARIK AND MÉNARIK EAST PROPERTIES – REGIONAL GEOLOGY

Archean greenstone belt made up of volcano-sedimentary rocks / Yasinski Group basalt

Polymictic conglomerate along deformation corridor (Timiskaming-style) / early erosional unconformity? [blue unit]

Syenite-hosted and/or orogenic gold mineralization styles

Layered ultramafic-mafic igneous complex with Cr-PGE±Ni±Cu occurrences [purple unit]

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LAC MÉNARIK PROPERTY– GOLD MINERALIZATION STYLES

Some of the best drilling intersections: 0.89 g/t Au over 68.25 m, 7.51 g/t Au over 1.41 m Very high tenors in individual quartz veins (up to 500 g/t Au) Mineralization and alteration more abundant where monzonite is fractured, brecciated and/or sheared

Feldspar-porphyriticmonzonite intrusion

Large-feldspar porphyritic monzonite intrusion spatially-associated to most gold occurrences; gold also in basalts, conglomerates, iron formations and gabbros (syenite-hosted model)

Most commonly in narrow quartz veins (stockwork), less commonly disseminated in host rock

Alteration consists in quartz, sericite, albite, calcite, dolomite, epidote, hematite; sulphides (pyrite, chalcopyrite, rare galena) in veins and host rock

Lake Ménarik sits on a major fault marking a sharp metamorphic contrast (greenschist to amphibolite facies)

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LAC MÉNARIK PROPERTY – NEW 2017 GOLD SHOWINGS

Prospecting and geological mapping conducted by Harfang in 2016 and 2017 Discovery of additional high-tenor gold showings along a propable structure

on the edge of the conglomerate unit (orogenic gold model) Trenching yielded 1.04 g/t Au over 24.9 m Geological setting located at intersection of several structural lineaments IP survey completed over monzonite (25 linear km’s) with several anomalies

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Lac

Mén

arik

Prop

erty

MÉNARIK EAST PROPERTY – Cr-PGE-Ni-Cu MINERALIZATION

Layered ultramafic-mafic igneous complex Main intrusive body [purple and brown units] with historical

resources*: 6.34 Mt @ 7.73% Cr2O3, 398 ppb Pd et 105 ppb Pt; 1.06 Mt @ 0.38% Ni et 0.15% Cu

Abundant gabbroic dykes intruded into felsic basement Excellent drilling database (> 36,600 m) Possible genetic link between igneous complex and Lac Ménarik

Fault / Ancient deep-seated conduit permeable to mantle-derived magmas and ore fluids?

*Non compliant to NI 43-101

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MÉNARIK EAST PROPERTY – GOLD MINERALIZATION

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Lac

Mén

arik

Prop

erty

Abundant tonalite-hosted gold showings associated with shear zones / plus silicification and fuschite

Common NNW-SSE and probable NE-SW shear zones / gold-bearing secondary structures with respect to the main (first-order) Lac Ménarik Fault?

Gabbroic dykes found near gold showings Polymetallic showings with associated Au, Ag, Cu, Zn and Pb

(different mineralization style?) IP survey completed (17 linear km’s) with several anomalies to be

investigated

MÉNARIK EAST PROPERTY – 2017 GOLD SHOWINGS

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Cuesta trend

Esker trend

Sedimentary Rock

Basalt

Iron Formation

Lac Fagnant greenstone belt

Gold Showing (SIGEOM)

PropertyBoundary

LAC FAGNANT PROPERTY LOCATION AND GENERAL GEOLOGY

January 2017

74 claims (36.48 km2), located 35 km east of Kuujjuarapik (Nunavik) and 160 km north of Radisson (James Bay)

Joint Venture with Kenorland Minerals Ltd Access by helicopter or floatplane Great Whale Archean greenstone belt defined over 16 km x 8 km Dominated by mafic volcanics; scarce terrigenous and

orthochemical sedimentary rocks, felsic lavas, and ultramafic and felsic intrusions; major iron formations in the south

Generally greenschist facies, higher metamorphic grade locally

Geological mapping by the Federal and Québec governments before 1983

Exploration activities conducted in 1997, 1999 and 2000 by Virginia Gold Mines

Airborne Mag-EM and ground Mag-IP surveys, mapping and rock and till sampling done / no drillingyet

>30 gold showings mainly along the Esker and Cuesta trends in the western branch / some with high Zn-Pb-Cu-Ag tenors

Significant portion of the property covered by esker sediments / bedrock never investigated

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Outline of the 2000 IP Survey

Cuesta trend

Esker trend

Pro

perty

Bou

ndar

y

Limit of the Lac Fagnant belt

LAC FAGNANT PROPERTY CHARACTERISTICS OF GOLD OCCURRENCES

January 2017

Gold mineralization is found in sheared and altered basalts and in basalt-hosted quartz veins (orogenic gold model)

Alteration minerals include chlorite, actinolite, epidote, andalusite, K-feldspar, albite, sericite

Sulphides include pyrite, pyrrhotite, arsenopyrite, chalcopyrite, galena and sphalerite

Mesothermal gold-rich veins reach up to 47 g/t Au and polymetallic veins grade up to 29.2 g/t Au, 8.9% Zn, >1% Pb, 0.3% Cu, 70.2 g/t Ag in the western band

Low mag zone for the volcanic-dominatedportion of the belt / iron formations in areas with high mag signature

Western volcanic band more altered and deformed than eastern band / most probable explanation for abundance of gold in the former

Quaternary sediments (Esker) hide gold-bearing structures known to be associated with gold occurrences

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Property BoundaryInOut

InOut

IP Axes

OverburdenBasaltAltered/faulted basaltTonaliteDioriteGold showing

0 300

metres

LAC FAGNANT PROPERTY IP SURVEY AND GOLD SHOWINGS

January 2017

IP axes mark altered, sheared and sulphide-bearing zones spatially associated with gold showings

Several IP axes located under Quaternarysediments (overburden)

Bedrock not yet investigated by drillinganywhere on the property

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SERPENT PROPERTY LOCATION AND GENERAL GEOLOGY

January 2017

255 claims (131.97 km2) divided into two blocks located 90 km southeast of Radisson and 11 km eastof the James Bay Road

100% owned by Harfang, no NSR Accessible by helicopter, floatplane or boat Two electricity transmission lines run through the

property Located 80 km northwest of Éléonore Mine,

adjacent to La Grande-Opinaca contact Underexplored area outside known greenstone belts

South Block

North Block

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SERPENT PROPERTY GOLD AND COPPER MINERALIZATION

January 2017

Grassroot prospecting in 2017 led to discovery of gold and coppershowings hosted in foliated and gneissic tonalite

Best grab sample for gold: 4.11 g/t Au Best grab sample for copper: 2.11% Cu, 0.68 g/t Au, 19.1 g/t Ag Pyrite and chalcopyrite in quartz veins

Minor quartz arenite (Apple Formation) in southern block

Mineralization could be linked to an east-west deformationcorridor (blue area) defined by structural data and magneticbreaks

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EXPLORATION BUDGET: $1,000,000

LAC MÉNARIK• Mechanical stripping and trenching• Drilling

MÉNARIK EAST• Prospecting and geological mapping• Mechanical stripping and trenching

LAC FAGNANT • Ground Mag and IP surveys• Drilling

SERPENT• Prospecting and geological mapping• Airborne Mag-EM Survey

EXPLORATION PROGRAM 2018

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François Goulet, M.Sc. P.Geo, President & CEOHarfang Exploration [email protected](514) 627-1406

WWW.HARFANGEXPLORATION.COM

TSX-V: HAR