Mr. Nicholas Rodway reports

HM EXPLORATION DRILLS 18.45 METRES OF 1.14% CU, 2.42% ZN, 16.74 G/T AG AND 0.32 G/T AU IN UPPER LENS; 5.42M OF 1.99% CU, 1.66% ZN, 15.39G/T AG AND 0.8G/T AU IN LOWER LENS AT LEWIS PILLEY'S

HM Exploration Corp. has released the remaining assay results from the company's phase 1 drilling program at its Lewis Pilley's project in Newfoundland, Canada. Assay results in this release cover drill holes 8 to 12.

"The remaining phase 1 assay results demonstrate consistent polymetallic grades across meaningful widths," said Nick Rodway, chief executive officer of HM Exploration. "Both the upper and lower lenses continue to demonstrate continuity and remain open for expansion. Individual sample intervals in the upper lens returned grades of up to 8.14 per cent copper and 27.3 per cent zinc while the lower lens returned up to 149 grams per tonne silver and 10.23 grams per tonne gold. The fact that we're getting these grades means there's a bigger system capable of producing exceptional grade somewhere nearby. Our goal is to follow these clues back to where all that metal originated, which could be the high-grade core of the system. These results are not just about what we have now, but about where we're heading next. We look forward to completing the planned EM [electromagnetic] surveys, which will help refine targets for phase 2 drilling."

Highlights:

• Upper lens extended to 145 metres; lower lens extended to 40 metres;
• PI-26-008:
  • Upper lens:
    • 18.45 metres of 1.14 per cent Cu, 2.42 per cent Zn, 16.74 g/t Ag and 0.32 g/t Au (7.55 to 26 m):
      • Including 2.25 per cent Cu, 2.27 per cent Pb (lead), 27.3 per cent Zn, 102 g/t Ag and 2.42 g/t Au over 0.71 m (18.92 to 19.63 m);
      • Including 4.74 per cent Cu, 2.54 per cent Zn, 36.94 g/t Ag and 0.53 g/t Au over 1.95 m (23.4 to 25.35 m):
        • And including 7.87 per cent Cu, 2.99 per cent Zn, 83 g/t Ag and 0.95 g/t Au over 0.50 m (23.4 to 23.9 m);
        • And including 8.14 per cent Cu, 3.82 per cent Zn, 38.8 g/t Ag and 0.7 g/t Au over 0.57 m (24.3 to 24.87 m);
  • Lower lens:
    • 6.32 m of 0.91 per cent Cu, 2.37 per cent Zn, 29.3 g/t Ag and 1.63 g/t Au (163.45 to 169.77 m):
      • Including 1.06 per cent Cu, 2.06 per cent Pb, 4.72 per cent Zn, 71.27 g/t Ag and 4.23 g/t Au over 2.21 m (163.45 to 165.66 m):
        • And including 0.72 per cent Cu, 4.29 per cent Pb, 10.9 per cent Zn, 149 g/t Ag and 10.23 g/t Au over 0.82 m (163.45 to 164.27 m);
        • Including 2.44 per cent Cu, 2.85 per cent Zn, 17.49 g/t Ag and 0.6 g/t Au over 1.22 m (168.55 to 169.77 m);
• PI-26-009:
  • Upper lens:
    • 7.57 m of 1.95 per cent Cu, 2.89 per cent Zn, 17.1 g/t Ag and 0.31 g/t Au (15.75 to 23.32 m):
      • Including 2.85 per cent Cu, 0.51 per cent Pb, 4.03 per cent Zn, 24.65 g/t Ag and 0.43 g/t Au over 4.88 m (17.12 to 22.00 m);
  • Lower lens:
    • 3.38 m of 1.03 per cent Cu, 0.43 per cent Zn, 7.71 g/t Ag and 0.37 g/t Au (155.62 to 159.00 m):
      • Including 2.91 per cent Cu, 0.42 per cent Zn, 16.3 g/t Ag and 0.8 g/t Au over 1.02 m (156.64 to 157.66 m);
• PI-26-010:
  • Lower lens:
    • 5.42 m of 1.99 per cent Cu, 1.66 per cent Zn, 15.49 g/t Ag and 0.8 g/t Au (141.81 to 147.23 m):
      • Including 2.49 per cent Cu, 2.04 per cent Zn, 18.96 g/t Ag and 0.99 g/t Au over 4.09 m (141.81 to 145.90 m):
        • And including 4.90 per cent Cu, 1.11 per cent Zn, 18.60 g/t Ag and 0.86 g/t Au over 0.90 m (145.00 to 145.90 m);
    • 2.48 m of 0.57 per cent Cu, 1.01 per cent Zn, 9.27 g/t Ag and 0.35 g/t Au (135.30 to 137.78 m):
      • Including 1.17 per cent Cu, 1.72 per cent Zn, 15.40 g/t Ag and 0.51 g/t Au over 0.98 m (136.80 to 137.78 m);
• All reported intervals represent drilled lengths; true widths of the mineralized intersections are currently unknown;
• Optical and acoustic televiewer surveys were completed, with data currently being processed for delivery to the company;
• Downhole and ground EM surveys are mobilizing soon to support target refinement for 2026 phase 2 drilling, which will test potential extensions of the mineralized system.

The 2026 phase 1 drilling program was focused on evaluating the continuity of the mineralized system below known surface showings and along strike of the Clifford Jones (Bull Road) zone to improve the company's understanding of the geological controls on mineralization.

Assay results from drill holes 8, 9 and 10 continue to show significant polymetallic mineralization in both the upper and lower sulphide lenses. The upper targeted copper-bearing debris flow is currently continuous over an approximate strike length of 145 metres, and the lower mineralized sulphide lens is currently continuous over an approximate strike length of 40 metres. Both mineralized horizons remain open along strike and downdip. While holes 11 and 12 did not intersect as notable mineralization, they have intersected disseminated mineralization straddling the continuation of the trend. These two drill holes, coupled with the coming EM surveys, will help provide the geological information required to determine where to drill next in phase 2.

The mineralization from the upper zone is characterized by semi-massive to massive fragments of sulphide that have been fractured, transported and chaotically mixed with varying types of volcanic rock. The fragments range from rounded to angular, possibly indicating multiple phases of transportation and reworking of these fragments through moderate to distal transport from the original deposition site.

The mineralization from the lower zone is characterized by more massive and coherent fragments of sulphide with less rounding and fracturing than observed in the upper zone. The relatively intact nature of these fragments provides evidence that the new lower mineralized sulphide lens may represent debris deposited closer to the original hydrothermal vent system.

With all assay results now received from the phase 1 drill program, it appears that multiple stacked sulphide lenses are present within the project's volcanogenic massive sulphide (VMS) system. Geological interpretation is continuing and will incorporate results from the recently completed televiewer survey once the processed data are received.

Significant assay results from holes 8 to 12 are summarized in Table 1.

Geology and mineralization

The project is located within the Notre Dame subzone of the Dunnage tectonostratigraphic zone. Of note, most of the project is underlain by Ordovician submarine volcanic rocks of the Roberts Arm group, which is regionally identified as part of a mature arc sequence referred to as the Buchans-Roberts Arm belt, which also hosts the historic Buchans mine (after Dunning et al., 1987). Mineralization occurs as lower grade (Spencer's Dock), medium grade (Old Mines) and high grade (3B-Zone/Clifford Jones) deposits that are of both subsea-floor replacement and exhalative varieties. The deposits are often flanked by extensive chlorite, sericite, silica, potassium-feldspar and epidote alteration often observed in bimodal-felsic VMS systems. The Spencer's Dock area displays sericite/silica alteration that generally increases in intensity near mineralized zones, while the 3B-Zone/Old Mines areas display sericite/silica alteration that is abundant but less widespread and is more intense when proximal to mineralized zones (after Kerr, 1996).

VMS deposits are a globally significant source of copper, zinc, lead, silver and gold. The project's geology shares key characteristics with known VMS districts in Newfoundland, including the past-producing Buchans, Ming and Rambler mines, supporting the exploration potential of the project.

About Lewis Pilley's project

The project is road accessible and situated approximately 25 kilometres east of the town of Springdale, approximately 55 kilometres southeast of Firefly Metals' Green Bay project and approximately 150 kilometres from the Pine Cove mill and port by way of major roads.

The project has a long history of mining and exploration dating back to the late 1800s when the Pilley's Island Pyrite Company Ltd. produced approximately 450,000 tonnes of massive pyritic ore from the Pilley's Island mine/Old Mines (after Kerr, 1996).

The project hosts a cluster of VMS systems and prospects with demonstrated high-grade zinc-lead-copper-silver-plus-or-minus-gold intersections. Mineralization is typical bimodal-felsic VMS, with both massive sulphide and sulphide-clast breccias (Thurlow, 1996). The geological setting is directly analogous to the Buchans camp (Thurlow, 1996), and the presence of sulphide-clast breccias is a strong vector toward proximal massive sulphide lenses.

Most of the historic showings that fall within the extents of the project have not seen systematic exploration. Many of the historic drill holes were shallow and drilled in a vertical orientation, limiting the geological knowledge of the extents of the underlying lithology and mineralization. Work is being planned to validate historic assay results as well as collect new data from the 3B-Zone, Clifford Jones (Bull Road) extension, Bouzanne shaft, Henderson, Mansfield and Pilley's Cove showings.

Sampling, preparation and quality assurance/quality control

Drill collar locations were determined from hand-held GPS (Global Positioning System) (NAD83-Zone 21N) and the drill rig was aligned using a Reflex TN-14 Gyrocompass alignment tool. All samples are given a unique sample ID and number and shipped directly to Eastern Analytical Ltd. (403 Little Bay Rd., Springdale, Nfld.), a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of the company. Analytical methods include ICP-OES (34 elements) with four-acid digestion, gold fire assay (30 grams) with AA finish, and ore-grade assay (multiacid digestion) with AA finish. The company inserts standard, blank and duplicate samples as part of its standard QA/QC procedures.

National Instrument 43-101 disclosure

Nicholas Rodway, PGeo (licence No. 46541) (permit to practise No. 1000359), is chief executive officer and director of the company and a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects. Mr. Rodway has supervised the preparation of and verified and approved the technical content in this news release. Verification included review of drill logs, sample tags, chain-of-custody procedures and analytical protocols. No limitations were noted during the verification process.

About HM Exploration Corp.

The company is currently advancing its Lewis Pilley's project located in Newfoundland. The project encompasses a land area of approximately 60.25 square kilometres and hosts a cluster of volcanogenic massive sulphide (VMS) systems and the historic Pilley's Island mine (approximately 450,000 tonnes of ore produced in the late 1800s). Historic drilling at the 3B-Zone showing returned significant intersections, including 16.77 m of 1.84 per cent Cu and 3.05 m of 5.03 per cent Zn with 1.02 g/t Au (Au Pell, 1989). The geological setting is directly analogous to the prolific Buchans camp, with multiple underexplored showings and strong potential for new discoveries.

In addition, the company holds 100-per-cent interest in the Devil's Den project, an exploration-stage project consisting of two contiguous mineral licences encompassing approximately 3,200 hectares located west of Port Alberni, Vancouver Island, British Columbia. Exploration work completed in 2022 established four geochemical grids to identify possible buried mineralization, uncovering multiple high-grade occurrences, including copper values up to 4.68 per cent at surface (Devil's Den, NI 43-101, November, 2022). Phase 1 exploration completed in 2025 included high-resolution UAV magnetic surveying and a lithogeochemical program, which identified new structural targets and zones of elevated copper, zinc and nickel geochemistry. The project hosts multiple historical adits with high-grade surface occurrences that remain undrilled. HM believes a lack of adequate modern exploration has left significant discovery potential.

HM Exploration is committed to applying modern exploration techniques across its projects to unlock value in historically underexplored Canadian mining districts.

We seek Safe Harbor.