I've hunted with exposed hammer guns for most of my life. Sometimes they hear it, sometimes you can be rattling rounds into your Winchester 1895 and a buck will walk right under your stand before you're even ready. There are things you can do to mitigate the noise. Cocking with the trigger held back is one. I usually cock the hammer as soon as I see deer with the possibility of shooting. You can place your thumb between the hammer and the frame for a little added security. For guns with a half cock notch, when you get settled in your spot, cock the hammer and lower it to the half cock notch. Then when you're ready to shoot, cock the hammer with the trigger held back and it will be silent.