TORONTO, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Hemlo Explorers Inc. (the "Company") (TSXV: HMLO) is pleased to announce that it has been selected to receive grant funding of up to $200,000 under the Ontario Junior Exploration Program ("OJEP") from the Ontario Government. This amount will cover up to 50% of eligible exploration costs, to a maximum of $200,000 in respect of expenditures incurred by the Company during the period from April 1, 2023 to February 15, 2024. The Company also received a $200,000 OJEP Grant for the 2022 exploration program.
"The mineral sector is vital to Northern prosperity and early exploration is a priority for Ontario," said George Pirie, Minister of Mines. "Supporting junior mining companies like Hemlo Explorers not only builds up the mining sector, but also improves our global competitiveness and demonstrates to the world that Ontario's mining sector is open for business."
"We would like to thank the Ontario Government for the approval for funding under the OJEP program. We look forward to utilizing these funds to augment the recent successful capital raise by the Company," commented Brian Howlett, President and CEO of the Company.
Through OJEP, the Ontario Government is investing in early exploration to create meaningful opportunities for junior companies to find the mines of the future. Incentivizing early exploration will help our province remain globally competitive, find new deposits of critical minerals, and create new economic development and job opportunities for northern and Indigenous communities.
About Hemlo Explorers Inc.
Hemlo Explorers is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. We are focused on generating shareholder value through the advancement of our main Hemlo area, including Project Idaho, the Pic Project and the North Limb.
For more information please contact:
Brian Howlett, President & CEO
Hemlo Explorers Inc.
1 (647) 227-3035
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company's plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Hemlo Explorers Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing, exploration risk and Covid-19 pandemic related orders. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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.
These press releases may also interest you