[3] The epaulette sharks of this region have long been confused with the Indonesian speckled carpetshark (H. freycineti), and it was only in 2010 that H. michaeli was described as a separate species by Gerald R. Allen and Christine L.

[5] The leopard epaulette shark was originally confused with the Indonesian speckled carpetshark, until photographer and aquarist Scott W. Michael recognized that they were distinct species and brought this to the attention of researchers.

The range of the leopard epaulette shark is confined to eastern Papua New Guinea, with most observations and collecting records from the Milne Bay province.

[6] The leopard epaulette shark is found in shallow water to a maximum depth of 20 m (66 ft) in fringing and patch tropical coral reefs, rocky outcrops, tidal pools, and seagrass beds.

[6] Juveniles of this species display a predominantly white coloration with a number of dark brown bars, including on the head and caudal fin.

[4] Although this species is critically understudied, we still know that as an adaptation for navigating its complex reef environment, like other members of the Hemiscyllium genus, the leopard epaulette shark moves by seemingly walking, bending its body from side-to-side and pushing off of the substrate with its paddle-shaped pectoral and pelvic fins.

[11] The gait of the epaulette shark is convergently similar to those of tetrapods such as salamanders, suggesting that the movements needed for walking on land may predate, and facilitated the evolution of, the first terrestrial vertebrates.

[9] Sometimes they perch in the open on sandy flats or atop reefs facing into the current, a form of orientation known as rheotaxis that may improve respiration or predator awareness.

[13] The first-ever footage of a leopard epaulette shark leaving the water and walking on land was captured by wildlife biologist and rare species expert Forrest Galante.

The footage was shown as part of a documentary called Island of the Walking Sharks, co-hosted by fellow marine biologist Vicky Vásquez.

In a blog post, Scott W. Michael postulated that "two new species" of the leopard epaulette shark could be present "off the coast of Milne Bay Province."

He further added that while colour differences may not always be a reliable indicator for distinguishing fish species, it appears to be a consistent characteristic for differentiating members within the Hemiscyllium genus.