Harfang Announces Polymetallic Discoveries and Up to 6.84% Cu (Grab) at Menarik East, Quebec

On November 26, 2025, Harfang Exploration announced the discovery of polymetallic mineralization from its summer exploration program at the Menarik East project in Quebec. The results are from grab samples, with highlights including up to 6.84% copper (Cu). The company identified two polymetallic domains covering a 4 km² area: a West Domain with copper-nickel potential and a Central Domain with nickel-PGE-chromium enrichment. The CEO, Rick Breger, expressed strong confidence in the project, comparing its geological potential to world-class systems like Ontario's Ring of Fire. The release also referenced a historical, non-NI 43-101 compliant resource on the property.

The news is materially positive as it successfully confirms the polymetallic potential at Menarik East, an objective outlined in the summer exploration plan announced on July 17, 2025. The high-grade copper result, even from a selective grab sample, is significant and introduces a new, compelling critical minerals angle to Harfang's portfolio, which has recently been dominated by gold exploration news from its Sky Lake and Menarik West projects.

This discovery diversifies the company's exploration thesis and provides another potential avenue for a partnership or joint venture, consistent with its project generator strategy. While the comparison to the "Ring of Fire" is promotional and premature, the results are strong enough to warrant significant follow-up work.

However, the impact is tempered by the extreme early-stage nature of these findings. The results are based solely on grab samples, which are selective by definition and not representative of overall grade or continuity. The market has previously reacted strongly to Harfang's drill-confirmed discoveries (e.g., Sky Lake in May 2025) but has been more subdued on grab sample results. This news adds significant geological potential and "blue-sky" value, but it does not fundamentally alter the company's near-term financial or operational status. It successfully delivers on a stated exploration goal, making it a positive and material development.

Harfang Exploration is a Canadian mineral exploration company focused on projects in Quebec and Ontario. The company employs a project generator business model, advancing some properties with its own capital while forming partnerships and joint ventures on others to minimize shareholder dilution and maximize discovery potential.

The company has two primary focus areas: 1. Sky Lake Gold Project (Ontario): This project emerged as a flagship asset following a maiden drill program in the spring of 2025 which discovered a new high-grade gold system, with intercepts including 7.0 g/t Au over 18.0 metres and 4.5 g/t Au over 15.6 metres. 2. Lake Menarik Property (Quebec): This large property has two distinct zones. Menarik West is a gold project optioned to SOQUEM, where high-grade gold grab samples were recently found. Menarik East is a polymetallic (Cu, Ni, PGE, Cr) project, which is the subject of the most recent news.