Harfang Announces Management Changes

MONTREAL, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (TSX-V: HAR) ("Harfang" or the "Company") is pleased to announce the appointment of Mr. Richard (Rick) Breger, as the Company's President, effective immediately, and as the Company's Chief Executive Officer ("CEO"), effective on or around February 1, 2024. The Company would also like to announce the succession plan of outgoing President and current CEO, Ian Campbell. Mr. Campbell will continue to serve as CEO, working closely with Mr. Breger, to ensure a seamless transition.

Mr. Breger is an exceptional addition to the Harfang team. With his diverse industry experience spanning both technical and financial aspects of the mining industry, he is perfectly poised to propel Harfang into its next chapter of growth. His impressive career includes impactful roles at IAMGOLD Corp. and Coeur Mining Inc., where he executed strategic initiatives and significant transactions. Rick's expertise is further bolstered by his capital markets experience with Canaccord Genuity and Dundee Capital Markets.

Mr. Breger holds an MBA from Ryerson University (now Toronto Metropolitan University) and a B.Sc. in Earth and Planetary Sciences from McGill University. He is also a practicing member of the Professional Geoscientists of Ontario (PGO).

"On behalf of the Board of Directors and the entire Harfang team, I am delighted to welcome Rick as the new President," said Mr. Campbell. "He is a business builder and leader with a unique skill set. He has an exceptional track record of value creation and relevant industry experience in executive, operational and strategic roles. We have full confidence that Rick is well-positioned to take Harfang to new heights and build on our solid base of assets and management team. We look forward to growing the Company with his fresh perspectives."

"Harfang presents a unique opportunity to grow a Company that has an impressive portfolio in Tier 1 jurisdictions, is well-capitalized, and has a team with a proven track record," said Mr. Breger. "I am excited to work with the team to further develop the Company's growth strategy and deliver the full potential of Harfang to all stakeholders."

"We are excited to welcome Rick as the new President, and eventually the CEO, of Harfang," stated Jean-Pierre Janson, Chair of the Board. "We believe Rick's combination of capital markets and technical experience will add value to the Company and its shareholders."

Mr. François Huot has recently notified the Company of his resignation as Vice President, Exploration. The effective date of Mr. Huot's resignation will be February 23, 2024. Harfang will begin its search for a replacement immediately.

The Company has granted 400,000 incentive stock options to Mr. Breger. The options have an exercise price of $0.15 per share and will expire on December 11, 2033.

About Harfang Exploration Inc.

Harfang Exploration Inc. is well financed with approximately $5.7M in the treasury as of December 6, 2023 and is a technically driven mineral exploration company with the primary mission to discover ore deposits in Québec and Ontario. The Company is managed by an experienced team of industry professionals with a proven track record of success, controls a portfolio of highly prospective projects and has a strong financial position. Harfang is dedicated to best practices through engagement with all stakeholders and commitment to the environment.

On behalf of the Board of Directors and for further information, please contact:

Ian Campbell
Chief Executive Officer
Tel: 647 680-3820
Email: [email protected]

Rick Breger
President
Tel: 416 809-0728
Email: [email protected]

Web: www.harfangexploration.com

Cautionary Statement Regarding Forward-Looking Information

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Harfang believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Harfang disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the 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.