File: '\\swfile\EmailIn\20251127 164600 Attachment News Release for EWR - Nick (v2).docx'

1401-7123-9170, v. 1

Early Warning Report Filed

Vancouver, BC - (November 27, 2025) - Nick Rodway, CEO and a director of HM Exploration Corp. ("HM" or the "Company"), has filed an early warning report (the "Report") pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues. A copy of the Report filed by Mr. Rodway can be viewed at HM's SEDAR+ profile at www.sedarplus.ca.

This report relates to 281,001 common shares (the "Acquired Shares") and 140,500 warrants (the "Acquired Warrants") of HM that were acquired on November 26, 2025 through the Company's closing of its private placement financing (the "Financing") of $0.11 units (each, a "Unit"), with each Unit consisting of one common share of the Company and one-half (1/2) of one (1) common share purchase warrant of the Company (each whole warrant, a "Warrant"), with each Warrant entitling the holder to acquire one additional common share at an exercise price of $0.16 for a period of thirty-six (36) months from the closing date.

HM's address is as follows:

HM Exploration Corp.

1450, 789 West Pender Street

Vancouver, BC, V6C 1H2

The occurrence that triggered the requirement to file the Report was that Nick Rodway (the "Acquiror") acquired 281,001 Units through his company, 1240533 B.C. Ltd.

Immediately before the Financing, the Acquiror had beneficial ownership, or exercised control or direction, both directly and indirectly over 2,412,500 shares and 500,000 options, representing approximately 17.31% of the outstanding shares of HM on an undiluted basis and 20.17% of the outstanding shares of HM on a partially diluted basis.

Immediately after purchasing the Acquired Shares and the Acquired Warrants, the Acquiror has beneficial ownership or exercises direction or control over, directly and indirectly: (a) 2,693,501 shares; (b) 500,000 options; and (c) 140,500 warrants, representing approximately 11.70% of the outstanding shares of HM on an undiluted basis and 13.92% on a partially diluted basis.

The average cost per Unit is C$0.11 for aggregate consideration of C$30,910.11.

Mr. Rodway may, from time to time, increase or decrease his beneficial ownership or control of HM shares depending on market or other conditions; however, he has no current intention to acquire or dispose of any securities of the Company.