Author: investorcreative

Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 8Q7) is pleased to announce that three core drilling rigs are now fully mobilized and drilling the first three holes of an extensive 20,000m drill program at the Company’s wholly-owned Hercules Silver Property in western Idaho (“Hercules” or the “Property”). Timberline Drilling of Hayden, Idaho has returned to carry out the program, which will consist of drilling 200m centers along NW-SE fences, starting west of the 2023 discovery area, and testing new magnetic anomalies and conductivity and chargeability anomalies identified by a 2023 deep-seeking 3D induced polarization (“IP”) survey (“2023 IP survey”).

Highlights

• Commenced core drilling at Hercules with two Atlas Copco CS14 rigs that have an effective depth capacity of 1,000m and one Atlas Copco CS3001 rig with an effective depth capacity of 2,000m in Hercules ground conditions. Both drills are track-mounted for enhanced maneuverability.

• The first two CS-14 rigs arrived and began coring HER-24-01 and HER-24-02 ahead of schedule on April 22, to get a head start on challenging drilling conditions that were anticipated in the Upper Plate in that area.

• The actual number of holes drilled will depend on the depth of holes, which is to be determined based on visual logging of mineralization.

• Drilling will operate 24/7 on two 12-hour shifts (day and night).

• Core samples will be sent to the MSA Labs in Langley, British Columbia.

• The phase III drill program will focus on multiple targets, including (see Figure 1):

• Drilling on 200m centers along NW-SE fences, starting with three holes to the west, northwest and north from HER-23-05, which had the best copper intercept in 2023 of 185.29m of 0.84% Cu and 111 ppm Mo from 246m to 431.2m, including 45.33m of 1.94% Cu in an upper enrichment blanket.

• A conductivity anomaly at the Belmont Zone identified by the 2023 IP survey. Prospecting of historical waste dumps at Belmont recently uncovered strong chalcocite mineralization, potentially sourced from an underlying enrichment blanket.

• Two magnetic high anomalies below the Belmont and Grade Creek Zones, potentially representative of magnetite alteration, commonly associated with a central potassic zone.

• Near surface chargeability anomaly at the Big Cut Skarn, situated at the edge of the IP survey.

• A road upgrade project has now been completed with safety berms and 3-inch crushed rock emplaced over the existing dirt surface and subsequently graded to allow for safe vehicle travel in inclement weather conditions. This is expected to  reduce standby time at the drills and potentially further extend the drilling season.

Chris Paul, CEO and Director of the Company, commented, “Our much-anticipated Phase III drill program is officially underway, with all three drill rigs mobilized and turning. This is the largest program we have had to date and is backed by an immense amount of planning and interpretation supported by our largest shareholder, Barrick Gold Corporation. The team has been on site since April 14, further re-logging the 2023 drill core and developing new insights into the porphyry controls and targets. Important vein controls are now being recognized which appear to contribute a large portion of the copper endowment at Leviathan.

In addition, our road upgrade project is now complete, preventing a significant amount of what would have been standby time for the drills, after a late season snow event occurred at the end of April. Our roads are now expected to be safe for vehicle and equipment access even in poor weather conditions. We look forward to sharing further updates as we enter a very exciting chapter of the Company’s history.”

Phase III Drill Program

Hercules entered the early stages of a new porphyry discovery last year with a series of initial deep drill holes which encountered strong phyllic alteration, typical of the margins of a porphyry system, over an approximate 450m x 500m area.

The first three planned holes of the 2024 field season are now currently being drilled as shown on Figure 1. Information from these first holes will influence the planning of subsequent holes. The Company has elected to commence the phase III program with three step-out holes to the west, northwest and north of HER-23-05, which is an area viewed as having the highest potential for early success. The aim is to then drill 200m centers along NW-SE oriented fences, to generate meaningful cross-sections within this high priority area. This will help our technical team understand the overall geometry of the system and optimize the orientation (dip and azimuth) of drill holes which will then test more far field targets such as Belmont and Grade Creek.

The objectives of the phase III program are to:

1) Utilize systematic step-outs to vector into the highest-grade portion of the system;

2) Identify the overall size of the target; and

3) Recognize the geometry of the system to further refine the 3D target model.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules’ Vice President, Exploration. Mr. Longton is a “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Conference Participation

The Company is pleased to announce that members of its executive team are participating in the upcoming Canaccord Genuity 3rd Annual Global Metals & Mining Conference taking place May 7-9, 2024, in Palm Desert, California.

About Hercules Silver Corp.

Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FWB: 8Q7) is an exploration Company focused on developing Idaho’s newest copper and silver district.

The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important discoveries in the region to date. The Company is well positioned for growth through continued drilling, supported by extensive historical and current exploration and a strategic investment by Barrick Gold.

With the potential for significant scale, the Company’s management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide.

For further information please contact:

Nisha Hasan Investor Relations Telephone +1 (604) 425-1408 Email: nisha@herculessilver.com  Chris Paul CEO & Director Telephone +1 (604) 670-5527 Email: chris@herculessilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; assay results of future drill holes; results of operations, and the expected financial performance of the Company.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Toronto, Ontario / April 30, 2024 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 8Q7) is pleased to announce that it has strengthened its technical advisory team with the appointment of Mr. Charles Greig, MSc, P.Geo as Strategic Technical Advisor. Mr. Greig is widely recognized for his role in the discovery of the Saddle North porphyry for GT Gold Corp, which was acquired by Newmont Corporation in 2021. The discovery earned him the Prospectors and Developers Association of Canada’s (PDAC) Bill Dennis Award in 2022.

Mr. Greig has also played a pivotal role in the exploration of other significant projects which reached production, including La India and Alamo Dorado in Mexico, Brucejack in British Columbia, Bisha and Emba Derho in Eritrea, and Wolverine in Yukon. He and his consulting firm, C.J. Greig & Associates Ltd., based in Penticton, B.C., are now actively collaborating with the Company’s technical team on the 2024 exploration program at the Hercules Project in western Idaho.

Chris Paul, CEO and Director of the Company, commented, “I’m excited to welcome Charlie and his group to the Hercules team. As a fellow Okanagan Valley geologist, Charlie has been a mentor and a source of valuable support to me over the years, and I appreciate having him on board in Idaho. His firm’s experience and success in porphyry exploration make them a valuable addition to the Hercules team as we look to expand on our exciting Leviathan porphyry discovery.”

About Hercules Silver Corp.

Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FWB: 8Q7) is an exploration Company focused on developing Idaho’s newest copper and silver district.

The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important discoveries in the region to date. The Company is well positioned for growth through continued drilling, supported by extensive historical and current exploration and a strategic investment by Barrick Gold.

With the potential for significant scale, the Company’s management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide.

For further information please contact:

Nisha Hasan Investor Relations Telephone +1 (604) 425-1408 Email: nisha@herculessilver.com  Chris Paul CEO & Director Telephone +1 (604) 670-5527 Email: chris@herculessilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; results of operations, and the expected financial performance of the Company.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 8Q7) is pleased to showcase the results of its 2023 deep-seeking 3D induced polarization (“IP”), direct current resistivity and drone magnetic geophysics over the area to be drill tested in 2024, revealing multiple prospective targets, coincident with the direction of increasing copper porphyry grades seen in the initial 2023 deep discovery holes drilled at its Hercules Property in western Idaho (“Hercules” or the “Property”).

Highlights

• Conductivity anomaly below historical mining at the Belmont Zone.
  • High grade cores of porphyry copper systems can often have highly conductive copper sulfide vein networks, making Belmont a potential target for a high grade core at depth.
  • High grade chalcocite, typical of the porphyry enrichment blanket, was recently found on historical waste dumps at Belmont, indicating 1870’s mine tunnels may have reached the top of the porphyry system.
• Kilometers of prospective chargeability from Belmont to Grade Creek.
  • The high-grade core of a porphyry will typically have ~1-3% copper sulfide with moderate chargeability values, surrounded by a highly chargeable halo of up to 10% disseminated pyrite.
• Moderate chargeability anomaly near surface at the Big Cut Skarn provides an additional satellite drill target.
• 3D magnetic inversion reveals magnetic highs potentially associated with a potassic core.
• Soil sampling, mapping, and prospecting planned to cover extensions of newly identified geophysical targets.
• Preparations underway for commencement of the 2024 drill program. The Company plans to provide updates once mobilization of drill rigs begins.

Chris Paul, CEO and Director of the Company, noted: “We’re pleased to showcase the much-anticipated results of our 2023 deep-seeking geophysics in advance of the upcoming drill campaign. We now recognize that the initial 2022 IP survey covered just a small portion of a much larger system which shows the potential for multiple porphyry centers. We see patterns in the magnetics, conductivity, and chargeability that are consistent with typical zoning of a large porphyry system, including a magnetic and conductive core surrounded by a strong chargeability halo. In 2023, we found the copper grades to be increasing towards what we now see as the most prospective targets on the Property. We’re excited to test these new high priority targets for the first time, as we expand our search for the potential high-grade core.”

Chargeability

Hercules entered the early stages of a new porphyry discovery last year with a series of initial deep drill holes testing an unexpected and poorly depth constrained 2022 chargeability anomaly. Five deep drill holes encountered strong phyllic alteration, which is typical of the margins of a porphyry system, over approximately 450m x 500m.

Dias Geophysical Inc. was brought back in 2023 to carry out a property-wide deep-seeking IP survey designed to explore the new Leviathan Porphyry at depth. The new survey expands on the initial chargeability anomaly first tested last year and reveals trends that are comparable with known porphyry copper systems.

Figure 1 (see below) provides a depth slice of the chargeability at 800 meters elevation to illustrate the distribution of disseminated sulfide mineralization in the lower plate. The core of a porphyry system often contains ~1-3% disseminated copper sulfides and is expected to produce a moderate chargeability anomaly consistent with what is outlined by the 2024 drill target corridor in Figure 1. Strong chargeability values to the east and west of the target corridor are interpreted to represent phyllic margins of the system with up to 10% disseminated pyrite. Figure 2 (see below) provides an east facing cross-section of chargeability with 2023 deep drill holes shown for reference.

Figure 1: Chargeability depth slice (800m elevation), surface trace of deep magnetic anomalies, and copper and molybdenum geochemistry. Black dashed lines outline target corridor of optimal chargeability, high conductivity and deep-seated magnetic anomalies, open to the north.

Figure 2: Chargeability section looking east (A-A’ in Figure 1)

Conductivity/Resistivity

Chargeability is influenced by non-connected disseminated sulfide mineralization. Conductivity is influenced by interconnected sulfide mineralization. At the core of some porphyry copper systems, sulfides can form a network of interconnected stockwork veinlets with high conductivity/low resistivity. Figure 3 (see below) provides a depth slice of conductivity (inverse of resistivity) at 900 meters elevation, demonstrating a compelling <30 ohm-m drill target at the Belmont that trends north through the 2024 target corridor and is bound to the west by a strongly pyritic shear zone.

Figure 3: Conductivity depth slice (900m elevation). Black dashed lines outline target corridor of moderate chargeability, high conductivity and deep-seated magnetic anomalies. Note strong conductivity (<30 ohm-m core) associated with magnetic anomaly at the Belmont Zone.

Belmont Zone Chalcocite

Prospecting of historical underground mine dumps at the Belmont uncovered a certain distinct rock unit with strong chalcocite mineralization, a copper mineral typical of the porphyry enrichment blanket. Very little historical record is available of the mining activity that took place at Belmont during the 1870’s-1880’s, which only reported high-grade silver-lead-zinc mined from the Hercules Rhyolite. However, certain rocks found on the mine dumps at Belmont host an enriched style of porphyry copper mineralization which is not hosted in Hercules Rhyolite. In fact, the rock resembles a sheared conglomerate unit which usually occurs just above the porphyry enrichment zone.

The chalcocite mineralized rocks, which are shown below in Photo 1, indicate that historical mining may have tunneled to the top of the porphyry, at which point ground conditions likely hindered further progress. If that is the case, the semi-massive chalcocite mineralization represents a potential source of the conductivity anomaly below Belmont.

3D Drone Magnetic Inversion

A 2023 drone magnetic survey was modelled in 3D to investigate potential magnetite enrichment at depth. Magnetite is typically associated with potassic alteration at the center of porphyry systems. The 3D inversion modelled two magnetic high anomalies at depth within the target corridor. One occurs below the Belmont conductivity anomaly described above. A second cylindrical anomaly is associated with a copper-molybdenum soil anomaly at the Hercules Ridge and Grade Creek Zones. Figure 4 (see below) provides an east-facing 3D view of the magnetic anomalies (in blue) relative to copper-in-soil. Figures 1 and 3 show the surface trace of the magnetic anomalies in plan view.

Figure 4: View looking down and to the east at 3D magnetic anomalies (blue isosurfaces) with copper in soils shown as graduated points on surface. Note the 3D inversion connected the deep anomaly below Belmont with a flat lying blanket of highly magnetic post-mineral basalts that cap the ridge south of Camp Creek, which is likely inaccurate.

3D Geophysical Compilation

Figure 5: 3D geophysical compilation looking east. Chargeability and conductivity isosurfaces are shown in warm colours and 3D magnetic anomalies in blue. Note the mushroom shaped chargeability/conductivity remains open below the survey limit at 900 meters depth.

Big Cut Copper-Gold Skarn Target

Historical trenching at the Big Cut skarn reportedly uncovered copper sulfide mineralization associated with quartz porphyry sills and dykes intruding a limestone. Historical exploration in 1973 and 1976 reported trenches grading up to 1.78% copper across 90 feet (~27 meters) and 1.30% copper across 57 feet (~17 meters)[1]^,[2]. Historically, silver was only selectively assayed, and gold was not assayed. However, select grab samples[3] taken by the Company in 2022 indicate the presence of both gold and silver (See below, Figure 6). Historical trench intercepts at the Big Cut include[4]:

Table 1 – Big Cut Select Historical Trenching Results

Length (ft.)	Length (m)	Cu (%)	Ag (oz/t)
90	27	1.78	NR
57	17	1.30	NR
40	12.2	1.58	NR
180	54.9	0.94	NR
40	12.2	0.91	NR
60	18.3	0.91	NR
115	35.1	0.93	NR
7	2.1	2.68	0.98
60	18.3	0.83	NR
70	21.3	0.63	NR

NR = Not Reported

The Company plans on testing a shallow (1,250m elevation) chargeability anomaly at Big Cut during the 2024 drill program. The anomaly is situated at the edge of the IP survey and may plunge to the south at depth. Tilting of porphyry’s is common within this tectonic environment and it is not yet understood what, if any, degree, or direction of tilting may have occurred at Leviathan.

Figure 6: Shallow chargeability depth slice (1,250m elevation) at the Big Cut/Lightning/Metheny zones with copper and gold geochemistry3. A moderate chargeability anomaly at the Big Cut sits on the southern edge of the 2023 survey, which may plunge south at depth.

Examples of Geophysical Responses over Known Porphyry Copper Systems

The following section presents geophysical case studies from known porphyry copper systems, sourced from Hoschke (2008)[5], for educational purposes only. Geophysics are an important tool in porphyry exploration, however they do not necessarily indicate economic mineralization and require drilling to determine the cause of their anomalies.

This section contains information on properties which Hercules Silver has no right to explore or mine and readers are cautioned that mineral deposits on the following properties are not indicative of mineral deposits on the Company’s properties.

Figure 7 provides an idealized cross-section of porphyry alteration and sulfide mineral zonation from Lowell and Guilbert’s 1970 model[6], and a depth slice of the IP chargeability response from the Poison Mountain copper porphyry, British Columbia, Canada.

Figure 8 shows an example of IP chargeability at the large Batu Hijau porphyry copper system in Indonesia relative to chalcopyrite and pyrite concentrations.

Figure 9 shows the alteration, magnetics, resistivity, and chargeability response at the Elang porphyry copper system in Indonesia.

Figure 10 shows the alteration, RTP magnetics, potassium, geology, resistivity, and topography at the Bajo de la Alumbrera porphyry copper system in Argentina.

Figure 7: (a) Lowell and Guilbert’s 1970 model showing idealized porphyry alteration and mineral zonation. (b) IP chargeability response for the Poison Mountain copper porphyry, BC, Canada[7].

Figure 8: (a) Chalcopyrite and (b) pyrite concentrations on an east-west section through Batu Hijau porphyry copper deposit in Indonesia[8]. (c) Location of the section on the gradient array chargeability. (d) Chargeability section from a 3D inversion model of the gradient array and dipole-dipole IP with the drillhole sulfur results.

Figure 9: Elang porphyry copper system showing a plan of alteration, RTP magnetics, 200m depth slice of resistivity, and 200m depth slice of chargeability. The polygons in black show the surface projection of the interpreted magnetic bodies.

Figure 10: Alumbrera porphyry copper system with alteration, RTP magnetics, potassium, geology, resistivity and topography.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules’ Vice President, Exploration. Mr. Longton is a “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Corporate Update

The Company also announces that it has granted an aggregate of 1,916,000 restricted share units (“RSUs“) in accordance with the terms of its omnibus incentive plan, to certain senor officers and directors of the Company. 1,500,000 of the RSUs were awarded to one of the officers of the Company pursuant to the terms of a January 2022 consulting agreement with the Company. The RSUs will vest in four equal tranches over a period of twenty-four months.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho.

The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The discovery of the new Leviathan porphyry copper system adds significant upside to the Property. The company is well positioned for growth through the drill bit, having completed extensive surface exploration consisting of soil and rock sampling, geological mapping, IP geophysics.

The Company’s management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide.

For further information please contact:

Nisha Hasan Investor Relations Telephone +1 (604) 425-1408 Email: nisha@herculessilver.com  Chris Paul CEO & Director Telephone +1 (604) 670-5527 Email: chris@herculessilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; assay results of future drill holes; results of operations, and the expected financial performance of the Company.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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[1]  Kelly, S. 1973. Progress Report to the Vancouver Stock Exchange on the Iron Cap, or Big Cut Holdings of Acaplomo Mining and Development Co. Ltd. in the Heath Mining District with concurrence by C.M. Armstrong, P.Eng.

[2] Armstrong, C. 1976. Report on the Iron Cap Property, Heath Mining District.

[3] The reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the Property.

[4] Trench assay results for the Big Cut are historical in nature and have not been verified by a Qualified Person and should not be unduly relied upon.

[5] Hoschke, T. 2008. Geophysical signatures of copper-gold porphyry and epithermal deposits. Centre for Ore Deposit Research, University of Tasmania, Private Bag 79, Hobart, Tasmania 7001, Australia. https://www.arizonageologicalsoc.org/resources/Documents/Publications/Digests/Digest_22/07_AGSDIG22_Hoschke_Geophys_Sign_Cu_Au_S.PDF

[6] Lowell, J.D. and Guilbert, J.M. 1970. Lateral and Vertical Alteration-Mineralization Zoning in Porphyry Ore Deposits. Economic Geology, 65, 373-408

[7] Seraphim, R.H. and Rainboth, W. 1976. Poison Mountain, in Brown, S.A., Ed., porphyry deposits in the Canadian Cordillera: Canadian Journal of Earth Sciences 15, pp. 323-328.

[8] Arif, J. 2002. Gold distribution at the Batu Hijau porphyry copper gold deposit, Sumbawa Island, Indonesia: M.Sc. Thesis, Queensland, Australia, James Cook University.

Hercules SilverCorp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 8Q7) is pleased announce that it has engaged Momentum IR Corp. (“Momentum”) a Toronto based investor relations and corporate communications firm led by Nisha Hasan, to provide investor relations and advisory services.

Chris Paul, CEO and Director of the Company, noted: “As we look to embark on our upcoming 2024 drilling campaign, engaging Momentum is the next step in the Company’s growth strategy to enhance our ability to communicate developments with our shareholders and the broader investment community. I’m delighted to welcome Nisha and her team aboard to ensure that we stay aligned with our shareholders and effectively communicate the progress of our upcoming drill program.“

The initial term of the agreement (the “Agreement”) is for a period of twelve months unless otherwise terminated earlier. As consideration for the services, the Company will pay a monthly fee of $10,000 in addition to 200,000 Options exercisable for a period of 5 years with an exercise price of CAD$0.83. The options will vest in four equal tranches over a period of twenty-four months.

Momentum does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. Aside from this Agreement, the Company does not have any relationship with Momentum. The engagement with Momentum is subject to approval of the TSX Venture Exchange.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho.

The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The additional discovery of a new porphyry copper system at depth in 2023 adds significant upside potential to the Property. The Company is well positioned for growth through the drill bit, having completedextensive surface exploration consisting of soil & rock sampling, geological mapping, IP geophysics.

The Company’s management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide.

For further information please contact:

Chris Paul CEO & Director Telephone +1 (604) 670-5527 Email: chris@herculessilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.Forward-looking information contained in this press release may include, without limitation, the results of operations, and the expected financial performance of the Company.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR+ website www.sedarplus.com. 

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 8Q7) is pleased to report strong silver-lead-zinc results from shallow holes drilled into the Upper Plate above the new Leviathan porphyry copper discovery at its Hercules Silver Property located in western Idaho (“Hercules” or the “Property”).

These results showcase the presence of a significant silver system above and potentially related to the Leviathan porphyry copper discovery. Grade and continuity are seen to increase to the northwest, toward the Hercules Adit Zone, in a similar pattern to the underlying porphyry copper system.

• HER-23-17 extended the high-grade Hercules Adit footwall shoot down plunge, with 11.3 Meters of 1,660 g/t Ag, 0.7% Pb, 1.75% Zn, one of the best silver intercepts on the Property, within an overall 112.2 Meters of 193 g/t Ag, 0.2% Pb, 0.4% Zn.

• HER-23-19 intersected a potentially new mineralized shoot at the hanging wall contact of the Hercules Adit Zone, returning 15.3 Meters of 359 g/t Ag, 0.4% Pb, 0.4% Zn.

• HER-23-13 intersected 100.1 Meters of 64 g/t Ag, 0.14% Pb, 0.49% Zn including 6.1 Meters of 413 g/t Ag, 1.1% Pb, 1.7% Zn.

• HER-23-09 intersected 32.2 Meters of 167 g/t Ag, 0.17% Zn.

• HER-23-22 intersected 58.8 Meters of 140 g/t Ag, 0.43% Pb, 0.69% Zn including 13.7 Meters of 280 g/t Ag, 0.3% Pb, 0.8% Zn.

• HER-23-23 intersected 43.9 Meters of 138 g/t Ag, 0.37% Pb, 0.32% Zn including 1.5 Meters of 1,450 g/t Ag, 1.06% Pb, 0.17% Zn.

• The highest silver grades are concentrated at the Hercules Adit Zone, indicating a strengthening trend to the north, in alignment with the copper mineralization observed in the underlying porphyry copper system (Refer to the Company’s January 22, 2024 News Release).

• The Hercules Adit Zone continues to remain open down plunge, extending towards a potential porphyry copper target.

• Planning for the 2024 drill campaign is underway, with the program scheduled to commence when weather conditions permit. Additional details regarding the drill plan will be disclosed as targets are finalized.

In a similar pattern to the increasing copper grades reported in the Lower Plate, the silver grades also appear to increase in a northerly direction, with the most promising grades found at the Hercules Adit Zone (Refer to Figures 2 and 3). This correlation suggests a potential relationship between the two mineralization styles, possibly representing different levels within a porphyry system.

Large porphyry systems are often characterized by successive episodes of mineralization. In the later stages of certain systems, shallow silver mineralization may migrate up vertical structures above the porphyry center, and extend laterally across favorable host units, such as the Hercules Rhyolite. It’s possible that the gently dipping silver within the Hercules Rhyolite may originate from a vertical feeder structure above a porphyry center.

Drilling thus far has indicated increasing silver grades to the northwest, toward the Hercules Adit Zone, which may continue to increase below the post-mineral Brownlee Formation. The best silver on surface occurs further north at the largely untested Hercules Ridge and Grade Creek zones, which also carry significant copper, with some samples even exhibiting rare copper staining in the Hercules Rhyolite (Photo 1). In addition, the Upper Plate geology at the Belmont Zone also carries anomalously high copper on surface and as reported by historical mining activity in the early 1900’s[1]. These factors, along with convincing geophysical trends present these zones as compelling targets for the upcoming 2024 drilling campaign, as we look to explore their porphyry copper potential at depth.

Photo 1: Copper stained Hercules Rhyolite at the Hercules Ridge Zone.

Chris Paul, CEO and Director of the Company, noted: “We’re encouraged to see another line of evidence for increasing grades to the northwest as we work closely with Barrick Gold Corporation’s senior technical team to plan our 2024 drill campaign. The program will be aimed at systematically stepping out on the Leviathan porphyry copper discovery as well as testing a multitude of new targets identified by our team. The objective is to have three diamond core rigs operational on site to complete a series of systematic step-outs from discovery hole HER-23-05, as well as several larger scale step-outs, and scout drilling of select reconnaissance targets. We look forward to sharing the details of the drill plan as we finalize specific targets in advance of the field season.

We’d also like to thank Barrick for the tremendous technical support they’ve provided us with so far. I’m proud of our teams combined efforts and cooperation at interpreting the data and generating a robust 3D model for use towards the drill planning.”

Table 1: Significant Intercepts* at the Hercules Adit Zone

Hole ID	From (m)	To (m)	Interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Mn (%)
HER-23-13	40.23	140.36	100.1	64	0.14	0.49	1.0
including	44.81	50.90	6.1	413	1.10	1.70	3.7
including	97.29	99.49	2.2	560	0.17	0.19	2.0
including	130.06	131.58	1.5	723	–	0.19	1.2
HER-23-17	39.47	151.70	112.2	193	0.18	0.43	1.4
including	39.47	54.25	14.8	118	0.16	0.31	2.1
including	136.64	147.89	11.3	1,660	0.70	1.75	2.4
HER-23-19	34.75	50.08	15.3	359	0.40	0.40	2.0
AND	82.24	85.80	3.6	142	0.56	0.74	1.2
HER-23-22	0.00	58.83	58.8	140	0.43	0.69	2.0
including	45.11	58.83	13.7	280	0.30	0.80	3.7
HER-23-23	0.00	38.10	43.9	138	0.37	0.32	2.6
including	25.91	38.10	12.2	398	0.40	0.46	4.9
including	25.91	27.43	1.5	1,450	1.06	0.17	3.9
HER-23-24	19.81	29.11	9.3	61	0.75	0.15	1.1

Table 2: Significant Intercepts* at the Belmont Zone

Hole ID	From (m)	To (m)	Interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Mn (%)
HER-23-09	0.00	32.19	32.2	167	–	0.17	1.7
HER-23-10	0.00	12.19	12.2	58	–	0.14	1.0
HER-23-12	0.00	21.18	21.2	137	–	0.18	1.0
including	18.47	19.66	1.2	1813	–	0.16	1.2

Table 3: Significant Intercepts* at the Frogpond Zone

Hole ID	From (m)	To (m)	Interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Mn (%)
HER-23-15	LOST. REDRILLED AS HER-23-16
HER-23-16	115.06	130.76	15.7	163	0.27	0.17	3.9

*The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.

Figure 1: Plan view highlighting 2023 Upper Plate silver intercepts above the Leviathan porphyry copper discovery.

Figure 2: Plan view showing Upper Plate silver grades in the Hercules Adit/Frogpond zones. Note silver grades increase to the northwest, towards the Hercules Adit Zone. The downdip extension of the Hercules Rhyolite remains untested to the north and west under Brownlee Formation post-mineral cover.

Figure 3: Plan view showing Lower Plate copper-in-soil anomaly dipping northwest underneath the Upper Plate silver-in-soil anomaly, which in turn dips northwest underneath the post-mineral Brownlee Formation. Both the Lower Plate copper and the Upper Plate silver grades are seen to increase to the northwest in 2023 drilling. Drilling has not yet tested the system below the Brownlee Formation cover.

Figure 4: Long-section of the Hercules Adit Zone, facing east. Holes presented above were drilled into the section at varying dips. Drill holes HER-23-13, -17 and -19 intersected a new mineralized shoot at the hanging wall contact of the Hercules Rhyolite, with HER-23-19 returning 359 g/t Ag over 15.3m.  HER-23-17 extended the footwall shoot down plunge, with 1,660 g/t Ag over 11.3 meters, one of the best intercepts to date. The high-grade shoots remain open down plunge to the north-northeast toward a potential porphyry copper feeder source.

Figure 5: Plan View showing drill holes HER-23-09, -10 and -12 at the Belmont Zone.

Table 4: Upper Plate Silver Intercepts* in Deep Porphyry Drill Holes

Hole ID	From (m)	To (m)	Interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Mn (%)	Notes
HER-23-08	0.00	104.00	104.0	10	–	0.19	1.4
HER-23-11	12.98	44.96	32.0	14	–	0.13	0.8
AND	71.93	81.93	10.0	17	0.19	1.30	2.4
HER-23-20	19.29	45.87	26.6	103		0.24	1.1	HER-23-20 designed to target porphyry but was lost immediately before intersecting lower plate
AND	199.80	223.72	23.9	46			1.0
including	199.80	204.22	4.4	70	0.14	0.17	1.3
including	222.50	223.72	1.2	564	–	0.11	0.6	Hole lost after this sample
HER-23-21	0.00	25.91	25.9	32		0.10	1.5
including	0.00	13.72	13.7	52			1.2

*The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.

Table 5: Reported Drill Hole Locations

Hole ID	Easting	Northing	Elevation	Depth (m)	Azimuth	Dip
HER-23-08	511414	4956760	1402	713.9	110	-70.0
HER-23-09	511449	4955610	1246	77.4	73.69	-44.8
HER-23-10	511449	4955610	1246	220.8	106.93	-44.8
HER-23-11	511577	4956352	1430	419.2	50.2	-60.5
HER-23-12	511449	4955610	1246	49.7	24.9	-65.3
HER-23-13	511132	4957113	1340	159.4	115.1	-56.9
HER-23-14	511966	4955967	1436	378.5	126.7	-59.9
HER-23-15	511061	4956765	1278	43.9	190.1	-60.2
HER-23-16	511039	4956641	1291	136.1	0	-90.0
HER-23-17	511132	4957113	1340	158.7	164.99	-63.7
HER-23-18	511987	4956137	1449	151.5	19.71	-50.4
HER-23-19	511132	4957113	1340	185.2	151.99	-71.0
HER-23-20	511342	4956557	1372	226.0	200.29	-80.1
HER-23-21	511638	4956352	1436	1007.1	240.43	-80.2
HER-23-22	511079	4956969	1293	76.6	79.81	-55.0
HER-23-23	511079	4956969	1293	87.7	159.96	-45.1
HER-23-24	511097	4956950	1291	42.7	90.17	-44.9
HER-23-25	511927	4956202	1438	126.4	240.5	-45.3
HER-23-26	511091	4956230	1349	799.6	64.89	-64.7

Sample Analysis and QAQC

All drill core and rock samples were prepped and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and crushed to 2mm, from which a 250g sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, assays were determined by the IMS-230 method. A 0.25g aliquot of the prepared pulp was digested in a 4-acid solution consisting of hydrochloric, nitric, perchloric and hydrofluoric acids. 4-acid is a near total digest and only the most highly resistant minerals are not dissolved. The resulting solution was analyzed via ICP-MS and ICP-ES for 48 elements and was corrected for inter-element spectral interferences.  Lower detection limits for this procedure are 0.01 ppm for silver, 0.5 ppm for lead, 2 ppm for zinc, and 0.2 ppm for copper. Mercury is not reported due to volatilization in reaction with hydrofluoric acid and gold is not reported due to the small, 0.25g aliquot size being insufficient to overcome the nugget effect.

Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF—6Ag, ICF-6Pb and ICF-6Zn.  The thresholds were 100 ppm for silver, and >1% for lead and zinc.  Preliminary silver assays that returned values >1000 ppm were determined by fire assay with a 50g charge for the final result.

MSA Labs employs internal quality control standards, duplicates and blank samples at set frequencies.

Blind certified reference materials (CRMs) and blank samples were systematically inserted by the Company into the sample stream and analyzed as part of the Company’s quality assurance/quality control protocol.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules’ Vice President, Exploration. Mr. Longton is a “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho.

The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The discovery of the new Leviathan porphyry copper system adds significant upside to the Property. The company is well positioned for growth through the drill bit, having completed extensive surface exploration consisting of soil and rock sampling, geological mapping, IP geophysics.

The Company’s management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide.

For further information please contact:

Chris Paul CEO & Director Telephone +1 (604) 670-5527 Email: chris@herculessilver.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; assay results of future drill holes; results of operations, and the expected financial performance of the Company.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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[1] 1918. Hershey, O. Preliminary geological report on the Raymond and Allison groups, Washington County, Idaho