Mr. Kal Malhi reports

HERTZ ENERGY INC. ANNOUNCES CLOSING OF FIRST TRANCHE OF LIFE AND FLOW-THROUGH OFFERING FOR GROSS PROCEEDS OF $1,000,000 AND EXTENSION OF PRIVATE PLACEMENT

Further to its news release dated Feb. 10, 2026, Hertz Energy Inc. has closed a first tranche of its non-brokered private placement offering, issuing an aggregate 2.33 million units of the company for gross proceeds of $1-million, as part of the announced LIFE (listed issuer financing exemption) offering of up to five units of the company at a price of 40 cents per unit and concurrent flow-through offering of up to six million flow-through units of the company at a price of 50 cents per flow-through unit. The company has closed a total of 1.65 million units of the company at a price of 40 cents per unit for gross proceeds of $660,000 as part of the LIFE offering and a total of 680,000 flow-through units of the company at a price of 50 cents per flow-through unit for gross proceeds of $340,000 as part of the flow-through offering.

Each unit issued consists of one common share in the capital of the company and one-half common share purchase warrant granting the holder the right to purchase one-half additional common share of the company at a price of 60 cents per whole common share at any time on or before 24 months from the closing date (defined below). The warrants will not be subject to an accelerated expiry. The securities offered under the LIFE offering will not be subject to a hold period in accordance with applicable Canadian securities laws. Each issued flow-through unit consists of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and the Taxation Act (Quebec) and one-half warrant, which shall have the same terms as the warrants included in the units to be issued in the LIFE offering. All securities issued in connection with the flow-through offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The gross proceeds from the LIFE offering and flow-through offering will be used for exploration work to be conducted at the company's recently announced Crag and Rod properties, together with and including the Craig silver-lead-zinc deposit, located in east-central Yukon, and the company's Lake George antimony-tungsten-gold project (the Tungmony project) in New Brunswick, a strategically positioned claims package surrounding the past-producing Lake George antimony mine, once the largest primary antimony producer in North America, operating intermittently from 1876 to 1996 (government of New Brunswick, mineral commodity profile No. 12, 2018), in addition to working capital purposes. The recently announced option agreement to acquire 100-per-cent interest in the Craig silver project was a significant development milestone for Hertz, a project situated within the Craig belt, a prospective subbelt of the approximately 175-kilometre-long Rackla belt, a region recognized for hosting some of Yukon's highest-grade silver-lead-zinc and gold mineralization, which positions Hertz at the forefront of Canadian silver exploration. Within the project, the Craig deposit is a drill-defined silver-lead-zinc asset that remains open along strike and at depth, offering significant potential for resource expansion. The project includes a 14-kilometre mineralized corridor hosting multiple underexplored zones such as Discovery, Trent, Azure, Nadaleen and Scott. Historical drilling has returned numerous high-grade intercepts, including intervals exceeding 200 grams per tonne silver with substantial lead and zinc values (refer to press release dated Jan. 28, 2026).

In connection with this first-tranche closing, the company has paid qualified finders and brokers a cash commission of $67,200, or 7 per cent of the aggregate gross proceeds of the LIFE offering and flow-through offering, and a total of 119,700 broker warrants. Each broker warrant will entitle the holder to purchase one-half common share at an exercise price equal to the offering price warrants, at 60 cents per whole common share, for a period of 24 months following the closing date.

The company was provided with an extension to close a final subsequent tranche of the LIFE offering and flow-through offering on or before May 11, 2026. The company confirms there is no undisclosed material information.

Cautionary statements

All scientific and technical information contained in this news release is historical in nature unless otherwise stated. Historical results referenced herein have not been verified by the company's qualified person and should not be relied upon.

Qualified person statement

All scientific and technical information in this news release has been reviewed and approved by Paul Teniere, PGeo, a geological consultant to the company and considered a qualified person for the purposes of National Instrument 43-101.

About Hertz Energy Inc.

The company is a British Columbia-based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. The company is focused on advancing the Crag and Rod properties, together with and including the Craig silver-lead-zinc deposit (collectively the Craig silver project), located in east-central Yukon, situated within the Craig belt, a prospective subbelt of the approximately 175-kilometre-long Rackla belt, a region recognized for hosting some of Yukon's highest-grade silver-lead-zinc and gold mineralization. The company is advancing its Lake George antimony-tungsten-gold project (the Tungmony project) in New Brunswick, a strategically positioned claims package surrounding the past-producing Lake George antimony mine.

Hertz Energy's 100-per-cent-owned Harriman antimony project in the Gaspe region of Quebec and Agastya lithium project in James Bay, Quebec, are part of the company's growing property portfolio.

We seek Safe Harbor.