• Potential Southern Extension of Leviathan: 3D modelling suggests the new Southern Flats zone may be an approximate 1 km southern extension, and therefore potentially continuous with, the Leviathan copper porphyry system defined to the north.

• Drilling to Fill the Gap: Assays are currently pending for drill hole HER-26-04. Two drill rigs are currently drilling holes HER-26-05 and HER-26-06, focused on expanding Leviathan to the south and infilling the 1-kilometer gap in drilling towards Southern Flats.

• Significant Scale Potential: Mineralization at both Southern Flats and Leviathan is centered on a large magnetotelluric ("MT") and induced polarization ("IP") anomaly that continues several kilometers south into the largely untested "Pegasus" target. The Hook target 3 km to the east appears to be a parallel structure with a similar geophysical anomaly.

• Vertically Extensive: Drilling at Southern Flats shows strong vertical continuity. HER-26-01 was terminated in a late porphyry intrusion. Mineralization is interpreted to occur on either side of the late porphyry however the hole was terminated due to depth.

• Enrichment Potential: The strong copper enrichment that occurs in the upper portion of Leviathan has not yet been located at Southern Flats, with potential for a higher-grade subzone elsewhere within the target area. Bornite mineralization below the leach cap in 26-01 suggests that this style of mineralization may be present in Southern Flats.

• Shallowing Potential: 3D modelling suggests the cover rocks thin to the south, toward the Pegasus target (see Figure 3 long-section).

Toronto, Ontario--(Newsfile Corp. - September 30, 2026) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) ("Hercules" or the "Company") is pleased to announce that a 200 m step-out drill hole HER-26-01 ("26-01") has extended mineralization west of the Southern Flats discovery hole HER-25-25 (see PR dated May 26, 2026). The Southern Flats zone represents the second copper porphyry centre discovered at the Company's Hercules Project in western Idaho (the "Property") since 2023, when the Leviathan copper porphyry system was initially discovered.

HER-26-01 encountered transitional phyllic to outer potassic alteration, hosting a unique style of porphyry copper mineralization grading:

• 287 m of 0.58% CuEq (0.43% Cu, 158 ppm Mo, 4.0 g/t Ag, 0.03 g/t Au)
• incl. 66 m of 0.80% CuEq (0.61% Cu, 89 ppm Mo, 11.3 g/t Ag, 0.04 g/t Au)

Unlike at the Leviathan centre, porphyry intrusions in HER-26-01 appear steeply dipping to subvertical. The hole ended in a lower grade late-stage porphyry intrusion interpreted to be steeply dipping.

Both Southern Flats and Leviathan are interpreted to have been emplaced along a major regional fault structure. MT geophysics shows potential for the same copper porphyry mineralization to continue further along the same structure, into the largely untested Pegasus target.

Geological mapping and drilling indicate that Southern Flats may be located within a "down-dropped" fault block, resulting in increased cover thickness. However, 3D modelling also indicates that cover thickness decreases again to the south, and mineralization may occur closer to surface within the Pegasus Zone.

Ongoing drilling has two rigs focused on the high-priority Leviathan copper porphyry system at 200 m drill spacing. Leviathan's mineralization has currently been traced to over 1.35 km in strike, up to 750 m in width, and approximately 500 m vertical extent. Mineralization remains open to the north, south, and at depth. Assays are now pending for drill hole HER-26-04, while two in-progress drill holes, HER-26-05 and HER-26-06, are expanding Leviathan to the south, infilling a large 1-kilometer gap in drilling between Leviathan and Southern Flats.

An extensive higher-grade copper hypogene enrichment blanket, containing secondary bornite, occurs within the shallowest portions of the Leviathan system. Drilling will continue to prioritize expansion of this high-priority target at Leviathan.

Figure 1: Drill plan showing MT conductivity and IP chargeability targets defining four key zones across the Hercules Property. Warmer colours are more conductive. As part of the current program, drill holes HER-26-04, 26-05, and 26-06 are extending Leviathan to the south and filling a large gap toward newly discovered mineralization in holes HER-25-25 and HER-26-01. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/316699_9805cff36454e9c5_002full.jpg

Figure 2: Cross-section (±250 m, looking north) showing Southern Flats holes HER-25-25 (see PR dated May 26, 2026) and HER-26-01 (this release). Interpreted geology and alteration shown for context. Select samples for silver, lead and zinc in the Jurassic cover were taken from a depth of 611.12 m and continued to the end of the hole, as indicated in the figure above.

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Figure 3: Long-section, facing east, showing the Leviathan copper porphyry system and overlying epithermal silver mineralization, with the new Southern Flats discovery and the largely untested Pegasus target along strike to the south. The section is approximately coincident with the major regional structure along which MT conductivity anomalies are associated with copper porphyry mineralization. The unconformity in red represents the boundary between underlying copper porphyry mineralization and an overlying epithermal silver system.

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https://images.newsfilecorp.com/files/9425/316699_9805cff36454e9c5_004full.jpg

Chris Paul, SVP Exploration for Hercules Metals commented, "Modern systematic exploration has led to two significant porphyry copper discoveries at Hercules since 2023, and, importantly, has provided us with a repeatable methodology for identifying and vectoring toward new porphyry centres across the district. Our approach begins with district-scale MT surveys at progressively tighter-spacing, followed by deep-penetrating IP surveys to refine discrete targets and, ultimately drill, vectoring toward the centres of new porphyry systems using well-established alteration zoning patterns within the Hercules Project porphyry district.

The Southern Flats discovery provides a proof of concept which can now be applied at other high-priority targets on the Property, including Hook and Pegasus. The first reconnaissance drill hole at the Hook target has already intersected key alteration and geological features consistent with the periphery of a porphyry system. With the anomaly beginning 100 meters from surface, Hook has emerged as our new highest-priority exploration target outside of Leviathan.

To date, systematic exploration has only been applied to approximately 20% of our 100,000-acre land position, leaving substantially more opportunities to continue identifying additional porphyry centres across the broader 73 km Olympus copper belt while drilling at Leviathan continues to aggressively expand our flagship discovery on 200 meter centres."

Table 1: Highlight Intervals

Table 2: Drill Collar Location

Olympus Option Payment

The Company has completed its second C$2.0 million anniversary payment to Barrick Mining Corporation under the option agreement (see PR dated August 18, 2025). This is the second of four payments made by Hercules to complete the ownership of a 73 km belt of claims known as the "Olympus Project." Upon the final $2 million payment in 2028, the Company will own over 100,000 acres in America's newest copper porphyry belt. At the Company's election, the payment was made entirely in cash rather than common shares.

Sample Analysis and QAQC

All drill core samples were prepped at MSA Labs in Elko, Nevada and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and crushed to 2 mm, from which a 250 g sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, assays were determined by the IMS-230 method. A 0.25 g aliquot of the prepared pulp was digested in a 4-acid solution consisting of hydrochloric, nitric, perchloric and hydrofluoric acids. 4-acid is a near total digest and only the most highly resistant minerals are not dissolved. The resulting solution was analyzed via ICP-MS and ICP-ES for 48 elements and was corrected for inter-element spectral interferences. Lower detection limits for this procedure are 0.01 ppm for silver, 0.5 ppm for lead, 2 ppm for zinc, and 0.2 ppm for copper. Mercury is not reported due to volatilization in reaction with hydrofluoric acid and gold is not reported due to the small, 0.25 g aliquot size being insufficient to overcome the nugget effect.

Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn. The thresholds are 100 ppm for silver, and >1% for copper, lead and zinc.

A 50 g split from the crushed and pulverized samples are composited into larger 500 g composite samples (consisting of ten continuous samples) and analyzed for gold utilizing CPA-Au1 photon assay method. Certain material gold results from the composite samples are then selected for re-analysis, by individual sample, as a 30 g fire assay (FAS-111 Method). Gold assays below detection limit are treated as zero values for composite calculations.

MSA Labs employs internal quality control standards, duplicates and blank samples at set frequencies.

Blind certified reference materials (CRMs) and blank samples were systematically inserted by the Company into the sample stream and analyzed as part of the Company's quality assurance/quality control protocol.

For further details regarding holes HER-25-25, HER-26-02 and HER 26-03 including applicable scientific and technical information and cautionary statements, see PR's dated May 26, 2026, June 16, 2026 and September 14, 2026, respectively.

Qualified Person

The scientific and technical information in this press release has been reviewed, verified and approved for disclosure by Dillon Hume, P.Geo. and Vice President, Exploration for the Company. Mr. Hume is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Hercules Metals Corp.

Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) is an exploration Company focused on developing America's newest porphyry copper district, in Idaho.

The 100% owned Hercules Project, located northwest of Cambridge, hosts the Leviathan porphyry copper system, one of the most important new discoveries in the country to date. The Company is well positioned for growth through continued drilling, supported by a strategic investment from Barrick Mining Corporation.

With the potential for significant scale, the Company's management and board of directors aims to deliver value to shareholders through proven discovery success.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Cautionary Statements Regarding Forward-Looking Information

All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "anticipated", "appears", "assumption", "believe", "concept", "confidence", "developing", "estimate", "exploration", "focused", "forward", "future", "growth", "if", "indicates", "initial", "intended", "mapping", "may", "modelling", "ongoing", "opportunities", "option", "pending", "plan", "positioned", "potential", "priority", "progress", "project", "suggests", "target", "toward", "untested", "vectoring", and "will", or variations of such words, and similar such words, expressions or statements, that certain actions, events, conditions or results "will," "would," "may," "could" or "should" (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements in this press release include statements regarding: indications, interpretations or suggestions from completed drilling and other exploration programs and other work (including mapping, modelling and similar activities), ongoing, planned or other future drilling or other exploration programs and work (including the objectives or targets therefor, and the targeted, expected or potential results thereof, including any identification and vectoring toward new porphyry centres, any expansion of targets at Leviathan, Pegasus, Southern Flats or Hook, and any openness of the Leviathan system north, south or otherwise; style of mineralization that may be present in Southern Flats, location of Southern Flats within a "down-dropped" fault block and implications thereof (including cover thickness), style of mineralization may be present in Southern Flats, any higher grade sub-zone represented by the Southern Flats, and cover thickness to the south of Leviathan (including increasing, or decreasing or thinning thereof); exploration targets including Pegasus and Hook; scale potential (including at Leviathan and Southern Flats, and magnitude thereof); any extension of Leviathan at Southern Flats or otherwise; Hook appearing to be a parallel structure with a similar geophysical anomaly to Leviathan; and pending or other future assay results.

Although the Company believes the forward-looking statements contained in this press release are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations, information and opinions, which are considered reasonable and represent best judgment based on available facts, as of the issuance of this press release. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions, which may prove to be incorrect, include those contained or incorporated by reference in this press release, as well as those stated in the Company's other public disclosure in 2026, including the prior press releases referenced in this press release, the Company's Management's Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2025 and the quarters already ended and reported in 2026 (collectively, "2026 Disclosure"), available on the Company's website at www.herculesmetals.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements, by their nature, are inherently subject to assumptions, estimates, expectations, opinions, and known and unknown risks, uncertainties, contingencies and other factors, which may cause actual results, activity, performance, developments or achievements, or other future events, to be materially different from any future results, activity, performance, developments or achievements expressed or implied by such forward-looking statements. Examples of such assumptions, estimates, expectations, opinions, risks, uncertainties, contingencies and other factors include those identified herein as well as those associated with general economic conditions; any mineralization at targets (including Southern Flats, Pegasus and Hook), if present, may differ materially from that observed at the Leviathan porphyry system; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; interpretations, indications, expectations and assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, and those set forth in the Company's other 2026 Disclosure, available on the Company's website at www.herculesmetals.com and/or documents filed under its issuer profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the issuance of this press release (or as otherwise expressly specified) and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the cautionary statements and/or notes in the Company's other 2026 Disclosure.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

¹ The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.
² Copper equivalent (CuEq) for drill intersections is calculated using a three-year trailing average for each commodity, which equates to US$ 4.20/lb Cu, US$ 2,600/oz Au, US$ 30.50/oz Ag and US$ 21.50/lb Mo, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.000512 * Mo ppm) + (0.010591 * Ag g/t) + (0.902879* Au g/t).

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