Mr. Chris Paul reports

HERCULES METALS ENGAGES EQUITY EXPLORATION CONSULTANTS AND COMMENCES 2026 EXPLORATION CAMPAIGN ON HERCULES PROPERTY IN WESTERN IDAHO

Hercules Metals Corp. has signed a letter of engagement with Equity Exploration Consultants Ltd. to manage drilling operations at the companies' Hercules property in western Idaho.

Equity is a senior geological consulting firm, based in Vancouver, B.C., with nearly 40 years experience managing large, complex drill programs for both junior and major mining companies across North America.

Equity's expert geologists and senior exploration managers will work alongside Hercules' existing technical team to expand operational capacity at the project, improve drilling efficiency, increase production, reduce sampling and analytical turnaround times, and provide greater flexibility to scale up drilling operations while accelerating the delivery of results to market.

Chris Paul, chief executive officer and director of Hercules Metals, commented: "We are pleased to welcome Equity to the Hercules team as we expand our overall operational capacity, extend our exploration season and position the project to support additional drill rigs. Equity's involvement is expected to enhance sampling and assay turnaround, while providing our technical group with greater flexibility to focus on geological targeting and improved data workflows. Together, these initiatives are intended to sharpen our exploration execution, increase drilling productivity, and support a stronger and more consistent flow of results as we advance into an important growth phase for the company in 2026."

Reconnaissance induced polarization survey

Hercules has engaged Simcoe Geoscience Ltd. to conduct a reconnaissance scale 2-D induced polarization (IP) survey over prospective targets identified by a two-phase magnetotelluric (MT) survey carried out across the project in 2025. The program will evaluate chargeability responses associated with strong conductivity anomalies at the Pegasus and Hook targets.

Conductivity in porphyry systems generally increases in areas characterized by strong shallow porphyry alteration, interconnected sulphide veining or massive sulphide replacement, which can be associated with shallow hypogene enrichment zones or large skarn systems. Chargeability is distinct from conductivity and is more typically linked to disseminated sulphide mineralization, representing broader mineralized shells around porphyry copper systems.

Utilizing both data sets, rather than relying on either in isolation, increases confidence in geological interpretation and drill targeting, particularly as the integrated results may help distinguish between a potential mineralized core and the outer pyrite shell of a system.

The first phase reconnaissance survey has been designed with long lines, approximately 3.5 to 4.5 kilometres in length, to maximum depth of investigation, with 100 m dipole spacing to maintain shallow data resolution. The actual depth of investigation at both targets will be dependent on the conductivity of their near-surface geology.

Discussion of new MT anomalies

A two-phase MT survey completed in 2025 defined several new targets that are planned for drill testing during the upcoming 2026 exploration campaign. The first phase covered the entire Hercules property at 1,000 m spacing and successfully imaged the Leviathan porphyry centre, previously discovered through blind drilling in 2023, at the northern end of a broad six-kilometre-long corridor. A second phase of higher resolution surveying within this anomalous trend outlined several discrete, vertically extensive conductive targets. The following sections describe two of those targets, which are currently being evaluated with IP geophysics to collect additional chargeability data in advance of initial drill testing.

Pegasus

The Pegasus MT anomaly is concealed beneath postmineral basalt cover, in an area that has never before been explored. A geologically constrained inversion model shows the presence of a cylindrical shaped conductive feature, which may be consistent with an as yet undiscovered porphyry centre along trend, representing a compelling target for 2026 drill testing.

The target's prospectivity is further supported by nearby skarn mineralization located immediately to the east on the adjacent Cuddy Mountain property held by Scout Discoveries.

All necessary permits, including approval from the Idaho Department of Lands, have been received, enabling drill testing of the Pegasus target in 2026.

Hook MT anomaly

The Hook is a lower tenor conductivity target that occurs within a separate subparallel conductivity trend to the Leviathan corridor described above. At surface, the Hook target is largely obscured by landslide cover. Despite this, anomalous copper and molybdenum in both soil and rock sampling suggest the potential for mineralization below landslide cover.

A single float rock sample collected during a non-selective 2024 lithogeochemical sampling program revealed the presence of quartz-veined porphyry in the immediate vicinity of the Hook target. The sample was entirely oxidized, but carried anomalous molybdenum (48 parts per million), which could be consistent with porphyry leach capping, under which conditions molybdenum is generally immobile. The exact source of the float is unknown, however its angular character and preservation suggest a proximal origin, reinforcing the potential for a nearby porphyry centre.

While less intense than other conductivity anomalies on the property, it may signal the presence of a different style of porphyry alteration and mineralization, or a different erosional level than that of Leviathan. The target lies along trend from anomalous chargeability shown on maps published by Scout Discoveries near to the Railroad target on their adjacent Cuddy Mountain property.

A second-year categorical exclusion permit application with the United States Forest Service (USFS) has successfully completed NEPA review, which will likely allow for drill testing of the Hook target in 2026, as the company continues to evaluate the potential for additional concealed porphyry systems throughout this underexplored portion of the property.

Qualified person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Dillon Hume, PGeo, 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 is an exploration company focused on developing America's newest porphyry copper district, in Idaho.

The 100-per-cent-owned Hercules project, located northwest of Cambridge, hosts the newly discovered 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 Corp.

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

We seek Safe Harbor.