Hemlo Explorers Announces Binding Term Sheet for an Earn-In Agreement with Barrick Gold on the Pic Project

TORONTO, April 4, 2022 – Hemlo Explorers Inc. (the “Company”) (TSXV: HMLO) is pleased to announce that it has entered into a binding term sheet (the “Term Sheet”) with a wholly-owned subsidiary of Barrick Gold Corporation (“Barrick”) whereby Barrick will have the right to earn into 910 claims comprising 16,800 hectares for part of the Pic Project (see Figure 1). The Pic Project is located 25 km west of Barrick’s Hemlo Mine. Both companies will work to complete the due diligence necessary to sign a definitive agreement (the “Definitive Agreement”) by April 30, 2022.