Harfang Exploration - 2019 Vancouver Investment Resource Conference

1. Corporate
Presentation
JANUARY 2019
A NEW PLAYER AND PROJECT GENERATOR ACTIVE IN JAMES BAY
TSX-V: HAR

2. 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, other
than 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 and
assumptions, 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 that
events 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 Mine
Finance 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 the
Corporation’s assets. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown
risks, 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 looking
statements contained in this presentation are based upon assumptions management believes to be reasonable. For additional information on risks, uncertainties and assumptions, please refer to the
Corporation’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 not
exhaustive. 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 risk
they 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 and
such 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 to
publicly 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, including
forecast 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-looking
statements. 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 mining
industry, properties without known mineable reserves, uncertainty as to calculations of reserves, mineral deposits and grades, requirement of additional financing, uninsured risks, competition, dependence
on 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’s
best 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.
2

3. 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
SYLVIE PRUD’HOMME,
DIRECTOR
Geologist and former Manager, Investor
Relations for Osisko Mining Corporation
ROBIN VILLENEUVE,
DIRECTOR
CFO at Opsens Inc. and ex-CFO of
Virginia Mines Inc.
FRANÇOIS GOULET, M.SC., P.GEO.
PRESIDENT & CEO
MANAGEMENT
YVON ROBERT, CPA
CHIEF FINANCIAL OFFICER
MARC POTHIER, LL.B.
CORPORATE SECRETARY
& LEGAL ADVISOR
EXCEPTIONAL BOARD
OF DIRECTORS 3

4. PARTNERS
4

5. EXPLORATION
UPDATE ON MÉNARIK
SERPENT PROPERTY
ACQUISITION
ACQUISITION OF
LAKE FAGNANT
TSX-V: HAR
ACQUISITION OF
LAKE AULNEAU
5
* APPROXIMATE VALUE AS AT OCTOBER 31, 2018
PRICE:
$0.20
HIGH – LOW (since June 30th 2018):
$0.33 - $0.18
SHARE OUTSTANDING:
31.8 M
Options: 965,000 Warrants: 5,103,500 Market Cap: $6.4M
QC INSTITUTIONAL FUNDS
30%
OSISKO GOLD ROYALTIES
16%
BOARD OF DIRECTORS &
MANAGEMENT
7%
AS AT JAN. 16, 2019
OWNERSHIP
TREASURY
CASH: $2.5 MILLION*
LONG-TERM DEBT: $0
RTO & $2.7M
FINANCING
SHARE STRUCTURE + TREASURY
5

6. OUR VALUES
GOOD GOVERNANCE
TRANSPARENCY
SOCIAL ACCEPTABILITY
LEAN & CLEAN
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7.  PROJECT GENERATOR
 PARTNERSHIPS ON ITS PROPERTIES
 STRATEGIC ACQUISITIONS
Focused on gold exploration in JAMES BAY
Developing early-stage gold properties
OUR VISION
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
Lake Aulneau
Lake Fagnant
Lake Ménarik & Ménarik East
Muskeg
Pontois
Anaconda
Serpent
7

8. PROJECTS IN JAMES BAY
5 projects in James Bay
Good access & infrastructure
Under-explored area
Nearby recent discoveries
8

9. LAKE MÉNARIK & MÉNARIK EAST PROPERTIES – REGIONAL GEOLOGY
Archean greenstone belt (Yasinski Group)
Polymictic conglomerate along
deformational corridor (Timiskaming-style)
Monzonite-hosted and/or orogenic gold
mineralization styles
Layered ultramafic-mafic igneous complex
with Cr-PGE±Ni±Cu occurrences
48 km southeast of Radisson
100%-owned by Harfang (2%
NSR Osisko Gold Royalties on
Lake Ménarik)
Lake Ménarik = 93 claims (47.79
km2) / Ménarik East = 68 claims
(34.94 km2)
Near intersection between
James Bay and Transtaiga roads
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10. LAKE MÉNARIK PROPERTY – GOLD MINERALIZATION
Very high tenors in individual quartz veins (up to 1,918 g/t Au)
Best drilling intersection: 0.89 g/t Au over 68.25 m
Gold occurrences hosted in quartz veins in monzonite and in the adjacent
volcano-sedimentary assemblage
Veining and alteration more common in brecciated and/or sheared monzonite
10

11. Syenite
Robertetal.(2001)
Timiskaming-type conglomerate Monzonitic dyke in sedimentary rocks
Quartz-carbonate stockwork in monzonite
LAKE MÉNARIK PROPERTY – MONZONITE-ASSOCIATED GOLD STYLE ?
Many similarities with Timmins & Kirkland Lake mining camps
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12. MÉNARIK EAST PROPERTY – CR-PGE-NI-CU & AU-(AG, CU, ZN, PB)
 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
Calculated resources* in the Menarik
ultramafic complex: 6.34 Mt @ 7.73% Cr2O3,
398 ppb Pd & 105 ppb Pt
*Not compliant with NI 43-101 resources
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13. LAKE FAGNANT PROPERTY – GEOLOGY
* Resources not compliant with NI 43-101
Esker
Cuesta
Sedimentary Rock
Basalt
Banded Iron Formation
Great Whale greenstone belt
Gold showings (SIGÉOM)
90 claims (44.37 km2) located 60 km east of Kuujjuarapik and 160
km north of Radisson; access by air transportation
Joint Venture between Harfang (40%), Kenorland Minerals Ltd.
(40%) and UrbanGold Minerals Inc. (20%)
Great Whale Archean greenstone belt defined over 16 km x 8 km
Dominated by mafic volcanics; minor terrigenous and
orthochemical sedimentary rocks, felsic lavas, and ultramafic and
felsic intrusions; major iron formations in the south
Never been drilled
13

14. LAKE FAGNANT PROPERTY – GOLD MINERALIZATION
IP axes broadly outline sulphide-bearing zones
associated with gold showings
Several IP axes located under overburden
Two gold trends with specific metal associations:
Cuesta (Au-As) and Esker (Au, Pb and base metals)
IP Axes
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15. SERPENT PROPERTY – LOCATION & MAG
295 claims (152.67 km2) located 90 km
southeast of Radisson and 10 km east of the
James Bay Road
100% owned by Harfang, no NSR
Accessible by air transportation and boat
Located 80 km northwest of Éléonore Mine,
adjacent to the La Grande-Opinaca contact
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16. SERPENT PROPERTY – GEOLOGY AND MINERALIZATION
Under-explored area outside known
greenstone belts; Archean basement
Langelier showing: Up to 91.48 g/t
over 0.45 m (channel)
Mista showing: 1.12% Cu, 0.23 g/t Au
and 8.68 g/t Ag over 10 m (channel)
Other gold occurrences up to 21.91 g/t
Au (grab)
16

17. SERPENT PROPERTY – MISTA SHOWING
2.09% Cu, 0.45 g/t Au and 16.4 g/t Ag over 4 m
Main Trench
Open
Open
1.12% Cu, 0.23 g/t Au and 8.68 g/t Ag
over 10 m for the entire trench
Main Trench
17

18. SERPENT PROPERTY – TILL SURVEY AROUND MISTA
Several gold anomalies in till
 HMC with >1 g/t Au (one
sample > 30 g/t Au)
 High ratio of pristine gold
Scheelite and loellingite in 2
distinct areas
3 possible gold sources for till
samples
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19. LAKE AULNEAU PROPERTY – GEOLOGY & MINERALIZATION
Cross-section of the Redcliff zone
Lacroix(1990)
Marymac II
Marymac I
Island
VTEM survey done in 2011 - no follow up
*Resources not compliant with NI 43-101
125 km south of Kuujjuaq; 134 claims (62.97 km2)
100% Harfang; no NSR
Access by air transportation
Cu-Ni-PGE prospects in the Labrador Trough
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20. EXPLORATION BUDGET:
$900,000
EXPLORATION PROGRAM 2018
LAKE MÉNARIK
 Mechanical stripping and trenching
 Detailed mapping
 Discovery of the Bing showing
LAKE FAGNANT
 Project evaluation - Field visit
MUSKEG
 Prospecting and geological mapping
SERPENT
 Prospecting, geological mapping and channel
sampling
 Discovery of Langelier and Mista showings
 Soil and till surveys with gold anomalies near
Mista (unknown sources)
GENEX
 Target Generation and prospecting
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21. 21
François Goulet, M.Sc. P.Geo
President & CEO
Harfang Exploration Inc.
fgoulet@harfangexploration.com
(514) 627-1406
WWW.HARFANGEXPLORATION.COM
TSX-V: HAR