What Harfang Exploration does

Harfang Exploration Inc. is a junior mineral exploration company listed on the TSX Venture Exchange (HAR.V) and headquartered in Montreal, Quebec. The company is engaged in the discovery and advancement of high-potential ore deposits across Quebec and Ontario, with a portfolio that includes wholly-owned projects — the 50,000-hectare Serpent Project (featuring the Mista Cu-Au-Ag target in Eeyou Istchee James Bay), the 9,100-hectare Sky Lake Gold Project in the Pickle Lake Gold Camp, the Blakelock gold project, and the Menarik East polymetallic project — plus joint-venture and optioned interests in Menarik West (with SOQUEM), Egan (with Fancamp, up to 80% earn-in), and Pontax (optioned to Li-FT Power). The November 2024 acquisition of NewOrigin Gold Corp. for $1.44 million consolidated assets in Pickle Lake and the South Abitibi greenstone belt.

The company's underlying technology is conventional mineral exploration: DC-IP (direct current-induced polarization) geophysical surveys, diamond drilling, geochemistry and till sampling, and 3D geological modeling of historical drill data. Validated technical concepts include the intrusion-related hydrothermal system model at Mista (confirmed by 2026 drilling) and a continuous high-grade mineralized shoot traced 250+ metres downhole at Sky Lake. There is no proprietary software, AI/ML system, or platform architecture; the technical "edge" is geological interpretation and data integration rather than software.

Harfang's business model is that of a pre-revenue exploration company: it raises capital through flow-through share offerings and non-brokered private placements (roughly CAD 12–13 million raised across multiple rounds since 2018, with retail/institutional Quebec capital from Caisse de dépôt, Fonds FTQ, SIDEX, SDBJ, and Desjardins), and uses partnership structures — option agreements, earn-ins, and potential joint ventures — to advance projects with partner funding rather than dilutive equity alone. The company serves the broader junior mining ecosystem and the institutional/retail investment community targeting Quebec/Ontario gold, copper, and polymetallic discovery exposure. Commercial value is expected to be realized through future asset sales, royalty arrangements, JV monetization, or production agreements once deposits are defined.

Name

Harfang Exploration

Legal name

Harfang Exploration Inc.

Website

https://harfangexploration.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Support Activities for Mining (2131), Support Activities for Metal Mining (213114)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industries

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Mineral exploration
• Gold exploration
• Polymetallic exploration
• Junior mining
• Ore deposit discovery

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Mineral Exploration: Pre-revenue mineral exploration company. Revenue will be generated through discovery and eventual sale/JV of mineral deposits, royalty arrangements, or production agreements. Currently in exploration phase with no operating revenue.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels7 records

Core offering

Harfang Exploration is a discovery-driven junior mineral exploration company focused on identifying and advancing high-potential gold and polymetallic ore deposits in Quebec and Ontario. The company operates a portfolio of wholly-owned projects (Serpent, Sky Lake, Blakelock, Menarik East) and joint venture/optioned projects (Menarik West, Egan, Pontax) using techniques such as DC-IP geophysical surveys, diamond drilling, and 3D geological modeling. The company is pre-revenue and funds exploration through equity financings, flow-through share offerings, and partner-funded earn-in arrangements.

Product overview

Harfang Exploration Inc. is a discovery-driven mineral exploration company operating a portfolio of mineral exploration projects across Québec and Ontario. The company operates wholly-owned core projects including the Serpent Project (50,000 hectares, featuring Mista Cu-Au-Ag target), Sky Lake Gold Project (9,100 hectares in Pickle Lake), Blakelock, and Menarik East, alongside joint venture projects Menarik West (with SOQUEM) and Egan (with Fancamp). In November 2024, Harfang completed the acquisition of NewOrigin Gold Corp., consolidating high-quality gold assets in the Pickle Lake and Abitibi regions.

Differentiator

Problem solved

Functional benefit

Products and services

• Serpent Project A 50,000-hectare wholly-owned copper-gold-silver exploration project in Eeyou Istchee James Bay, Quebec, featuring the Mista Cu-Au-Ag target associated with intrusion-related hydrothermal systems.
• Sky Lake Gold Project A 9,100-hectare wholly-owned gold exploration project in northwestern Ontario's Pickle Lake Gold Camp, featuring the Koval patented claims and a continuous high-grade mineralized shoot.
• Blakelock Project
• Menarik East Project A wholly-owned polymetallic exploration project in Quebec featuring high-grade copper, nickel, gold, and chromium showings with potential for resource development.
• Menarik West Property A gold exploration property in Quebec operated in partnership with SOQUEM Inc., with high-grade gold discoveries at the Pierre intrusion and Cox zone and mineralization extending over 500 metres along strike.
• Egan Project A gold property in Ontario being advanced through a Definitive Option Agreement with Fancamp Exploration Ltd., which can earn up to an 80% interest; located in a historically productive gold district.
• Pontax Project

Quantifiable outcome

• High-grade gold discoveries including 7.0 g/t Au over 18.0 m at Sky Lake
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Fancamp Exploration Ltd.coreStrategic or Co-development Partner · 12 November 2025Definitive Option Agreement with Fancamp to develop the Egan Project in Ontario through a phased earn-in process. Fancamp can earn up to 80% interest by meeting exploration funding, payments, and joint venture conditions. The Egan property is situated in a historically productive gold district with promising high-grade gold potential.
• Li-FT Power Ltd.minorChannel Partner/ Reseller/ Distributor · 23 September 2025Li-FT Power holds an option on the Pontax project. Exercised second option on Pontax in September 2025. Harfang retains interest in the project through the option agreement.
• NewOrigin Gold Corp.coreStrategic or Co-development Partner · 9 August 2024Acquisition of NewOrigin Gold Corp. completed November 2024, valued at $1.44 million. Transaction consolidated assets along the Casa Berardi deformation zone and enhanced Harfang's portfolio in Pickle Lake Gold Camp and South Abitibi. NewOrigin shareholders received approximately 20% ownership of Harfang.
• SOQUEM Inc.coreStrategic or Co-development PartnerPartnership with SOQUEM for exploration at Menarik West property in Quebec. SOQUEM is funding exploration and earning an interest in the property. Partnership includes DC-IP surveys at Pierre intrusion and Cox zone, with the goal of forming a potential joint venture. SOQUEM is the Quebec-based mining exploration partner company.
• Osisko GroupminorStrategic or Co-development PartnerOsisko Group provides technical, corporate, and administrative support to Harfang. Historical relationship includes acquisition of Lac Menarik property from Osisko subsidiary and ongoing royalty arrangements.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Probe Gold: Quebec-focused gold exploration company advancing the Novador project in the Abitibi. Directly comparable as a TSX-listed junior gold explorer with multi-target drill programs in the same jurisdiction as Harfang's Quebec assets.
• Wallbridge Mining Company: Explorer advancing gold projects in Quebec and Ontario, including the Martiniere project. Comparable in jurisdiction, scale, and exploration stage to Harfang, with overlapping Ontario gold-belt exposure.
• Bonterra Resources: Quebec-focused gold junior with advanced drilling at the Gladiator and Barry projects in the Abitibi. Comparable commodity focus, jurisdiction, and capital-markets profile to Harfang.
• O3 Mining: Quebec-focused gold explorer/developer with the Marban Alliance and Alpha projects in the Abitibi. Directly comparable as a TSX-listed junior advancing multiple gold targets in the same province.
• Amex Exploration: Quebec-focused gold explorer advancing the Perron and Eastmain projects. Comparable junior gold explorer with high-grade drill results and similar institutional investor base in Quebec.
• Troilus Gold: Junior advancing the Troilus copper-gold project in Quebec. Comparable as a Quebec-listed explorer with copper-gold polymetallic exposure similar to Harfang's Mista target.
• Fury Gold Mines: Canadian gold-focused exploration company with assets in Quebec, Nunavut, and British Columbia. Comparable junior explorer with multi-jurisdiction portfolio and similar scale.
• Marathon Gold: Junior advancing the Valentine Lake gold project in Newfoundland. Comparable as a Canadian-listed gold junior transitioning from exploration toward resource development.
• Quebec Precious Metals Corporation: Quebec-focused gold and critical minerals explorer with assets in the James Bay and Abitibi regions. Closely comparable jurisdiction and commodity mix to Harfang's portfolio.

Emerging players

• Li-FT Power: Lithium-focused junior currently optioning Harfang's Pontax project. Relevant as a counterpart on the Pontax option and as a peer in Quebec critical-minerals exploration financing channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/harfang-exploration-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds9 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harfang Exploration