Mr. Nicholas Rodway reports

HM EXPLORATION COMMENCES BOREHOLE & SURFACE EM SURVEYS AT LEWIS PILLEY'S

HM Exploration Corp. has contracted Crone Geophysics and commenced borehole and surface time-domain electromagnetic (TDEM) surveys at its Lewis Pilley's project in Newfoundland, Canada.

"The ongoing EM surveys will be instrumental in refining targets for our phase 2 drill program," said Nick Rodway, president and chief executive officer of HM Exploration. "Phase 1 drilling confirmed continuity within both the upper and lower lenses. The borehole and surface EM data will help us evaluate their potential extensions and identify additional conductive targets that may represent massive sulphide mineralization. We look forward to reporting the results once the surveys and interpretation are complete."

Highlights:

• The goal of the survey is to identify potential extensions of known mineralized zones and additional conductive targets surrounding the phase 1 drilling at the Clifford Jones (Bull Road) zone.
• TDEM is particularly effective for volcanogenic massive sulphide (VMS) exploration because many volcanogenic massive sulphide deposits contain significant concentrations of conductive sulphide minerals, which can produce a measurable electromagnetic response.
• The data from the survey will provide valuable information that will assist with drill hole planning for the phase 2 drill program that is planned to take place in late 2026.

About the TDEM surveys

Crone Geophysics is actively conducting borehole TDEM surveys in drill holes from the phase 1 drill program completed in May, 2026, at the Clifford Jones (Bull Road) zone. Upon completion of the borehole surveys, Crone will then execute a surface survey consisting of approximately 13 line kilometres covering approximately one square kilometre encompassing and expanding on ground surrounding the phase 1 drill holes.

Time-domain electromagnetics (TDEM) is a proven geophysical technique widely used in mineral exploration to identify and characterize electrically conductive zones in the subsurface. In VMS exploration, TDEM is particularly effective because many volcanogenic massive sulphide deposits contain significant concentrations of conductive sulphide minerals, which can produce a measurable electromagnetic response. By transmitting an electromagnetic signal into the ground and measuring the resulting decay response, TDEM surveys, such as Crone's Pulse-EM system, can help identify conductive anomalies that may represent massive sulphide mineralization and can provide information on their size, geometry, depth and continuity. When integrated with geological mapping, geochemistry, drilling and other geophysical data, TDEM can be an effective tool for prioritizing exploration targets and refining drill programs, potentially improving the efficiency and success of mineral exploration.

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.

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.