Category: 2022

Toronto, Ontario / January 2, 2024 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 8Q7) is pleased to report assay results for the latest holes drilled into the new Leviathan Porphyry Copper discovery at its Hercules project located in western Idaho (“Hercules” or the “Property”). Assay results were received in batches for three step-out holes, with complete results now having been received for HER-23-08 and HER-23-11, along with partial results for HER-23-21, which are reported in Table 1 below.

HER-23-08, HER-23-11 and HER-23-21 were collared 220 meters east, 450 meters southeast, and 500 meters southeast of discovery hole HER-23-05 respectively. Each hole was designed to test separate parts of a near surface 2022 IP anomaly. Assays for the remainder of HER-23-21, as well as HER-23-26, which also intersected porphyry copper mineralization, remain pending.

The Leviathan Porphyry remains open for expansion in multiple directions and thus far has only been tested within the 2022 IP survey area. This first phase of blind drilling has intersected copper mineralization within an approximate 500m x 450m area represented by drill holes HER-23-05, -08, -11, -21, and -26.

HER-23-21 tested approximately 800 meters of vertical extent below the silver system. All holes ended in mineralization. A new property-wide deep-penetrating IP survey (see below – “2023 Deep Penetrating 3D IP Survey by Dias Geophysical”) demonstrates that the 2022 anomaly represents just a small part of a much larger, 4 kilometer long, potentially zoned system which largely remains to be tested. Final geophysical inversions remain pending.

• Large step-outs demonstrate significant scale to the newly discovered blind system.

• Significant silver overprints copper porphyry in HER-23-11, returning 183m of 0.3% Cu and 25 g/t Ag, including a sub-interval of 63m of 0.43% Cu, 70 g/t Ag.

• Low arsenic associated with the epithermal silver overprinting HER-23-11, indicating favourability for potential future smelter treatment.

• Assays remain pending for the remainder of HER-23-21 and HER-23-26, which also intersected porphyry mineralization.

• Preliminary Property-wide deep-penetrating IP reveals the potential for a much larger zoned system than was previously understood.

• Mineralization remains open for expansion in multiple directions.

• HER-23-08 and HER-23-21 ended in well mineralized volcanic country rock which remains open at depth.

Table 1: Significant Intercepts

Hole ID	From (m)	To (m)	Interval (m)	Cu (%)	Ag (g/t)	Mo (ppm)	As** ppm
HER-23-08	276.3	713.8	437.5	0.32	0.5	86	20
including	276.3	364.85	88.55	0.5	0.9	48
and including	300.35	332.35	32	0.67	1.5	66
HER-23-11	233.11	416.05	182.94	0.3	25	61	37
including	233.11	296.27	63.16	0.43	70	66
including	246.31	247.86	1.55	0.63	774	71
including	270.69	271.42	0.73	0.25	3,001	8
HER-23-21*	248.41	409.53	161.12	0.45	4.4	148	40
including	251.46	330.71	79.25	0.53	7.3	113
*HER-23-21 assays remain pending from 734m to 1,003m **Arsenic reported to demonstrate low concentrations

Figure 1: Plan view of drill holes showing grade bars for copper (orange) and molybdenum (blue) for HER-23-05, HER-23-08, HER-23-11 and HER-23-21.

Chris Paul, CEO and Director of the Company, noted: “Step out holes drilled up to 500m from the initial discovery hole, HER-23-05, have demonstrated significant scale to the system. We’ve drilled in all directions across a 450m x 500m area and every hole ended in mineralization. The system remains open in multiple directions and at depth, with new geophysical data suggesting the potential for significant expansion. Our 2023 drilling encountered a significantly large phyllic halo for which core photos have been posted to the Company’s website. The photos illustrate intense veining, sulfide mineralization and hydrothermal alteration reflective of the scale of the system. In exceptionally large porphyry coppers, the phyllic alteration can extend significant distances from a high-grade potassic core, and the intensity of veining is supportive of that.

Utilizing large step outs has allowed us to employ property scale targeting and attracted a substantial premium investment from Barrick Gold Corp. (“Barrick”) which positions the Company to aggressively drill a new large-scale IP anomaly over several kilometers as we vector toward the potentially high-grade core of the system.

Core photographs can be viewed on the Company’s website at the following link:

2023 Deep Penetrating 3D IP Survey by Dias Geophysical

An IP survey was carried out by Dias Geophysical (“Dias”) in 2022 to target near surface silver in the upper plate, to a depth of 300 meters. However, the survey revealed the presence of a large chargeability anomaly below the limit of historical silver drilling which ultimately led to the discovery of the Leviathan Porphyry. With the success of the 2022 IP survey conducted by Dias, it was decided to utilize the same system again in 2023 to image the entire Property to a depth of 900 meters.

The new large-scale 2023 survey reveals that the 2022 anomaly represents just a fraction of a much larger system which does not show any apparent fault bounds, indicating the potential for significant expansion. Chargeability values are seen to increase along trend to over 33ms in magnitude, demonstrating the potential for increased levels of mineralization. Additional processing is now underway to incorporate the previous high-resolution near surface data with the new deep penetrating data, to generate a robust inversion model over the entire Property. Hercules is working with Barrick’s geophysical team to interpret the data in context with the 2023 drilling and generate the best possible drill targets for the next phase of drilling.

Additional Staking

The Company has also engaged Kurt J. Hoffman Mining Services of Post Falls, ID and has staked an additional 570 lode mining claims to the north of the Property, securing a key extension of the new 3D IP anomaly.

Geological Description

HER-23-08, HER-23-11 and HER-23-21 all intersected strong phyllic alteration with relatively high pyrite to chalcopyrite ratios, indicative of a marginal part of the system. All of the holes carry bornite mineralization near the top of the reported intercepts which demonstrates a potentially higher-grade sulfide assemblage within shallower portions of the system. This information will be used to target areas where the shallower portions of the system may have a higher preservation potential.

HER-23-11 intersected high-grade silver veinlets carrying grades of up to 3,000 g/t over 0.75m which appear to crosscut earlier copper mineralization. Encouragingly, the lead-zinc-arsenic concentrations are negligible within this zone, and native silver has been identified in polished thin sections, indicating potentially favourable metallurgy. They may represent high-grade feeder veinlets to the silver-lead-zinc mineralization hosted in the upper plate, further supporting that HER-23-11 was drilled in a marginal part of the porphyry system and may have been transitional to distal silver-lead-zinc mineralization.

All holes ended in mineralization. HER-23-08 and HER-23-21 intersected inter-mineral porphyry phases in the middle of the holes but ended in higher-grade volcanic wall rock which remains open at depth. The target is early-mineral porphyry phases which intruded the wall rock the earliest and are likely concentrated toward the center of the system with the highest vein densities and copper grades.

Spectral data was collected at 5-foot intervals using a portable Terraspec spectrometer to analyze the composition of hydrothermal sericite. The data is being interpreted to map sericite composition in 3D space. In porphyry copper systems, the spectral signature of sericite can be used as a vector towards the potentially higher-grade potassic core of the system.

Table 2: Drill Hole Locations

Hole ID	Easting	Northing	Elevation	Depth (m)	Azimuth	Dip
HER-23-08	511414	4956760	1402	713.9	110	-70.0
HER-23-11	511577	4956352	1430	419.2	50.2	-60.5
HER-23-21	511638	4956352	1436	1007.1	240.4	-80.2

High Resolution Core Photos

Full resolution versions of the core photographs can be downloaded directly from the following link (~4.8Gb):

FULL-RESOLUTION CORE PHOTOS

Sample Analysis and QAQC

All drill core 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.

Gold was analyzed by FAS-111, a 30-gram fire assay fusion with AAS finish. No significant results were reported.

Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn.  The thresholds are 100 ppm for silver, and >1% for copper, lead and zinc. 

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 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 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: info@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 assay results of the remaining holes; the results of the geophysical inversions from the 2023 IP survey; exploration plans and expected exploration and drilling results at 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.

• New 3D IP survey over the Hercules Adit, Frogpond and Belmont Zones reveals a large-scale, high-strength chargeability anomaly below historical drilling

• Strong chargeability values (>25ms) over a continuous strike length of 1.8 kilometers

• Anomaly is coincident with the untested base of the Hercules Rhyolite where surface mapping indicates the strongest silver mineralization to occur (See Oct 18 NR)

• Lower portion of anomaly lies down dip of the copper mineralization hosted within the underlying Seven Devils volcanics

• Anomaly remains open up-dip to the southeast

Toronto, Ontario / December 15, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report the presence of a large untested chargeability anomaly beneath the Hercules Adit, Frogpond and Belmont Zones on the Hercules Property in western Idaho (“Hercules” or the “Property”). The 3D inversion model presented in Figures 1-3 was generated from several million 3D data points collected over the course of a 4-week induced polarization (“IP”) survey conducted by Dias Geophysical.

Chargeability anomalies in excess of >25ms are typical of disseminated sulfide mineralization. At Hercules, the anomaly strikes for 1.8 kilometers coincident with the untested base of the Hercules Rhyolite, where surface mapping has demonstrated the strongest silver mineralization to occur (See Oct 18 NR). The IP anomaly also remains open up-dip, towards a large copper geochemical anomaly within the Seven Devils Group at surface. The anomaly may therefore represent a large body of sulfides associated with a transition zone from disseminated silver to copper mineralization, that lies below the historical drilling. A plan map showing the location of the IP survey lines, a depth slice of the chargeability at 300 meters depth below surface, and the Seven Devils copper anomaly is presented in Figure 1 below.

The main chargeability anomaly begins at a depth of approximately 150 meters, with smaller near-surface features associated with shallow, partially oxidized mineralization within the Hercules Adit and Frogpond Zones. 3D sections illustrating the position of the IP anomaly relative to silver grades in the historical drilling are presented in Figures 2 and 3 below, with section lines shown on Figure 1.

A 3D video describing the new anomaly can be found below:

A limited number of historical drill holes within the Frogpond Zone reached depths of 150 meters and showed increasing sulfides and silver-lead-zinc grades in proximity to the large anomaly (Figure 3). Those holes terminated in Hercules Rhyolite, likely nearing the highly shattered and strongly mineralized basal portion of the Hercules Rhyolite that is associated with the high chargeability anomaly.

Management Commentary

Chris Paul, CEO and Director of the Company, noted: “We’re very excited to see such an unexpectedly large and strong anomaly beneath the limit of historical drilling. These results help validate our model of applying modern exploration to a historical silver camp and demonstrate the excellent exploration potential that remains at Hercules. We look forward to stepping out our drilling in 2023 to test this large and high-priority new target.”

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an independent “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release, is neither inaccurate nor misleading.

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 Company is well positioned for growth through the drill bit in 2023, having completed extensive surface exploration in 2022 consisting of soil & rock sampling, geological mapping, IP geophysics, and a 9-hole drill program.

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) 449-6819
Email: cpaul@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.

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.sedar.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.

• First drill program undertaken in 34+ years at the Hercules Property

• 9 drill holes completed with a low-cost track-mounted RC drill rig

• High-priority areas tested within the Frogpond and Hercules Adit Zones for potential inclusion in future resource estimates

• Planning underway for an expanded Phase II drill program

• Final 3D IP inversions expected soon

Toronto, Ontario / December 5, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report that it has completed its first phase of capital-efficient drilling on the Hercules Property in western Idaho (“Hercules” or the “Property”) with a low-cost track-mounted RC drill rig (Photo 1). The Phase I drill program was designed to test and verify historical drilling assays as well as gain the geological and geotechnical information needed to support a Phase II drilling campaign in early spring of 2023. A total of 1,995 feet was completed in nine drill holes, with several holes bottoming in mineralization (Figures 1-6). Difficult ground conditions were encountered in highly shattered mineralized zones, leading to all holes ending short of their planned depths, with the exception of HER-22-03 and HER-22-04. The small track-mounted drill rig utilized was capital efficient for collecting quality samples in the near surface, but lacked the power and rod size needed for drilling deeper in difficult ground. The geological information gathered will help to determine the optimal drill rig size for Phase II, adequate for the challenging ground conditions encountered in mineralized zones.

Significant galena and tetrahedrite, the dominant silver bearing minerals, were observed in several drill holes, along with accessory pyrite. Intensity of galena/tetrahedrite is illustrated on cross-section figures 1-6 which demonstrate good consistency with historically modelled silver mineralization. Assay results from the 2022 drilling campaign are expected in early January and will contribute towards the verification of historical drilling data and potentially qualify the historical data for use in future resource estimates on the Property.

Management Commentary

Chris Paul, CEO and Director of the Company, noted: “We are pleased to have completed our first drill program at Hercules safely and efficiently. The shallow sulfide mineralization observed at the Hercules Adit and Frogpond Zones appears consistent with our internal modelling of historical silver grades. We look forward to receiving assay results, as they may allow us to confirm historical data and begin stepping out into undrilled portions of the Property in H1 2023.”

2022 Exploration Results Pending

The Company is awaiting results from over 900 outcrop samples collected across the Property, which are currently undergoing geochemical and Terraspec analysis. The results will provide a map of silver, lead, zinc, and copper grades in bedrock, across large portions of the Property which have never been sampled. Terraspec indicates the proximity the various alteration minerals have to the core of the system, which in turn provides a vector towards higher-temperature and potentially higher-grade portions of the system.

Preliminary results from the 3D IP survey suggest strong chargeability anomalies below areas of known mineralization. Final 3D inversions are expected soon, which will be released with a description of the new targets generated.

Engagement of Investor Relations Firm

The Company is also pleased to announce that it has retained the services of Peak Investor Marketing Corp. (“Peak”) a full-service marketing and consulting services firm based in Vancouver, B.C. that is focused on the junior mining sector. Peak is an independent arms-length entity and will assist the Company with marketing strategy and planning, corporate communications, and public relations, with the goal of increasing market awareness for the Company. Under the terms of the agreement entered into between the Company and Peak (the “Agreement”), the Company will compensate Peak C$12,000 per month for an initial renewable 6-month term and will grant Peak 300,000 options at an exercise price of $0.09 in accordance with the policies of the TSX Venture Exchange (the “TSXV”). The Agreement may be terminated after the initial 6 months term upon thirty days’ notice. Peak is not related to the Company and has no interest, directly or indirectly, in the Company or its securities. The Agreement is subject to TSXV acceptance.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an independent “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release, is neither inaccurate nor misleading.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. Members of the board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:
Chris Paul
CEO & Director
Telephone: +1 (604) 449-6819
Email: cpaul@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.

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.sedar.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.

• Drill rig mobilized to Hercules Property
• Verification, infill, and step-out holes planned at Frogpond and Hercules Adit Zones
• Historical drilling will be verified / infilled for potential inclusion in future resource estimates
• Step-out holes will test open zones with little to no prior drilling
• Assays will test for a full 51 element suite, including copper, lead, and zinc
• IP field work completed and 3D inversion modelling underway

Toronto, Ontario / November 3, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report that it has mobilized a low-impact, track-mounted reverse circulation (“RC”) drill rig to the Hercules Property in western Idaho (“Hercules” or the “Property”) to begin testing areas within the Frogpond and Hercules Adit Zones. Midnight Sun Drilling of Whitehorse, Yukon, has been contracted to carry out the program, which will continue until winter conditions prevent efficient drilling rates. The drill plan consists mostly of verification holes within the Frogpond and Hercules Adit Zones, as well as step-outs along the edges of the mineralized zones. The 2022 campaign will collect information on the nature of mineralization and ground conditions, in anticipation of a more advanced program anticipated to re-start in early spring. Results of the 2022 bedrock geochemical sampling, Terraspec alteration mapping, and 3D IP survey are pending and will allow for further insight into planning and target selection for the 2023 Phase II drill program.

Management Commentary

Chris Paul, CEO and Director of the Company, noted: “We are excited to be carrying out the first drill program at Hercules since the 1980s, when economic studies were underway following the completion of over 300 historical drill holes on the Property. At that time, depressed precious metals prices forced the previous operators to put small-scale open pit development plans on hold. More than 30 years later, we are re-envisioning the project at a much larger scale. We have been very busy over the past year, having completed a multi-month historical data compilation as well as six unique field programs, all of which have confirmed the presence of a significant silver system at Hercules. The Company is well positioned going forward, having completed a significant surface exploration campaign, and is fully-financed to drill test over 3.5 kilometers of prospective silver mineralization and a new copper porphyry target. Our 2022 drill program marks the beginning of an exciting period for Hercules Silver, and the rebirth of a largely forgotten silver district of Western Idaho.”

2022 Exploration Summary

Over the past year, Hercules Silver has achieved the following exploration milestones, advancing the Property to drill-ready status:

• Historical data compilation and 3D modelling of over 300 legacy drill holes from the 1960s-1980s

• Collection of 2,544 soil samples over 4,600 acres, which identified a 3.5-kilometer silver-lead-zinc anomaly and a 2.6-kilometer copper anomaly

• Collection of 886 bedrock samples, 89 channel samples, and 81 mine dump samples for which assays are pending

• Property-wide detailed geological mapping, which identified silver mineralization localized along the base of the Hercules Rhyolite that remains largely untested by shallow historical drilling

• 3-kilometer-long 3D IP survey from the Hercules Adit to the Belmont Zone by Dias Geophysical of Saskatoon, SK for which results are pending

2022 Drill Program

The Company has planned a series of shallow drill holes at the Hercules Adit and Frogpond zones, as outlined in Figures 1-4 below.

The holes are designed to confirm historically reported values and evaluate the expansion potential of the zones. Samples will be analyzed for 51-elements including lead, zinc and copper, which were only selectively assayed for in the past. The Company is utilizing a low-impact track-mounted RC drill rig which creates minimal disturbance and allows for a logistically simple operation during late season weather conditions. In addition to geochemical data, the program will collect information on the subsurface geology, mineralization, and ground conditions, which can often present drilling challenges in highly-shattered and mineralized rocks. This will help to determine the optimal drill tooling to be employed in the Phase II program, when the Company aims to utilize a larger rig capable of drilling to greater depths.

The 2022 Phase I program will proceed until winter conditions reduce drilling rates to inefficient levels, and therefore does not have a set meterage target. The planned holes outlined in Figures 1-4 will be drilled in priority order and may not all be completed prior to winter shutdown. News releases detailing the progress of the Phase I drill program, including plan maps and cross-sections of completed holes, will be provided over the coming weeks.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an independent “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release, is neither inaccurate nor misleading.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. Members of the board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

Chris Paul CEO & Director Telephone +1 (604) 449-6819 Email: cpaul@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.

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.sedar.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.

Toronto, Ontario / November 2, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSXV: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to announce that Mr. Keith Li has been appointed as the Company’s Chief Financial Officer, effective immediately.

Keith Li is an experienced Chartered Professional Accountant (CPA, CA) with over 15 years of corporate accounting, finance and financial reporting experience. He specializes in providing management advisory services, accounting and regulatory compliance services to both public and private companies in a number of industries including mining, cannabis, health and wellness, and merchant banking. Mr. Li began his career in the public accounting sector as an auditor and had also held a senior-level position at Sears Canada and multiple reporting issuers. He also holds a Bachelor of Commerce degree from McGill University.

Concurrent with Mr. Li’s appointment, Mr. Darren Collins has resigned from his role as CFO of Hercules Silver. Mr. Collins will remain as a director of the Company.

Mr. Chris Paul, Chief Executive Officer and Director of the Company, comments: “On behalf of the management team and board of the Company, I welcome Keith to our team. Keith is a highly experienced accountant that will undoubtedly enhance our financial reporting and disclosure activities. I would also like to thank Darren for his contributions to the Company as CFO. Darren was responsible for executing multiple transactions that have positioned our Company with the assets, capital and team required to create value for our shareholders. I am certain he will continue to be an asset to the Company as a Director of the Board.”

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. Members of the board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

Chris Paul CEO & Director Telephone +1 (604) 449-6819 Email: cpaul@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.

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.sedar.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.

• Bedrock geology, structure and stratigraphy mapped in detail

• New mapping improves understanding of the controls on silver mineralization

• Large subsurface target defined along base of rhyolite

• Assays pending for 793 outcrop samples, 83 chip samples and 69 mine dump samples from across the Property

• 666 hand samples currently undergoing ASD Terraspec analysis to map hydrothermal alteration across the Property

• Large 3D IP survey currently underway to refine drill targets

• Drone magnetic geophysical survey upcoming

Toronto, Ontario / October 18, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report that it has commenced a 3D IP survey and completed an extensive bedrock mapping and sampling program on its 100%-owned Hercules Silver Project in Idaho (“Hercules”, or the “Property”). The new mapping, completed by Specialised Geological Mapping Limited of the United Kingdom, has considerably improved the Company’s understanding of the nature and controls of silver mineralization on the Property. The new work has a significant bearing on drill planning, which is now underway with the goal of growing the historical drill-defined mineralization.

Mapping has shown that the historically-termed “Hercules Rhyolite” is in fact a volcanic tuff of rhyolitic composition. Tuff is a type of rock composed of volcanic ash and fragments ejected from a vent during a volcanic eruption. The lower portion of a tuff unit is typically densely welded from the heat and compaction of overlying material. This densely welded material is easily fractured and can often result in the rock having strong permeability characteristics. This appears to be the case on the Hercules Property where the strongest alteration and silver-lead-zinc mineralization occur within the highly shattered base of the rhyolitic tuff, close to where it is in contact with underlying intermediate volcanics and conglomerates.

The shallow-dipping base of the rhyolitic tuff represents a large subsurface target which is largely untested by the shallow historical drilling. The majority of historical holes drilled outside of the main zones appear to have been terminated early, prior to reaching the shattered basal portion of the rhyolitic tuff. Only the holes drilled adjacent to outcropping mineralization at the Hercules Adit and Frogpond Zones have conclusively tested the basal portion in one or more drill holes.

Management Commentary

Chris Paul, CEO and Director of the Company, noted: “Improving our understanding of the deposit model at Hercules is an important step towards extending the historical mineralization. Mapping the controls on mineralization allows us to better plan and execute on future drill programs at Hercules. We anticipate that the results of our bedrock sampling program will also generate additional priority targets, including within the large and untested copper anomaly on the east side of the Property. The company will be able to adapt its future work programs in accordance with this new geophysical, geological, and geochemical data once results are received by Q1 2023.”

Bedrock Sampling

Nearly all outcrops within the silver-lead zinc and copper soil anomalies have been sampled over the past month. A total of 793 new outcrop samples, along with 83 chip samples and 69 mine dump samples were collected. A separate hand sample was saved from each outcrop for analysis with an ASD Terraspec mineral spectrometer, to identify alteration assemblages present across the Property. Hand samples were cut prior to analysis and are being logged in detail under a microscope.

The results of the Terraspec work will provide a map of the hydrothermal alteration across the Property and indicate the approximate temperatures and/or depths at which the alteration mineral assemblages formed. For instance, zones with lower temperature minerals that are exposed at surface may warrant deeper drilling into higher temperature and potentially higher-grade portions of the system at depth.

3D IP Survey Underway

The Company has engaged Dias Geophysical of Saskatoon, SK, to conduct a 3D IP survey spanning from Grade Creek in the north to the Belmont Zone in the south, with higher resolution and tighter spacing over drill-defined mineralization at Hercules Adit and Frogpond. The survey plan covers over 3.5 kilometers of strike length. Historical IP surveys only partially covered the Hercules Adit and Frogpond zones but demonstrated good correlation between chargeability and mineralization. A strong chargeability anomaly lies adjacent to the Frogpond Zone at depth, where shallow historical drilling failed to reach the mineralized basal contact. This target presents a good opportunity to potentially extend the Frogpond mineralization to the north, along the base of the rhyolite.

The current survey utilizes a modern 3D array with a large transmitting generator that is capable of surveying to 600-meters depth, significantly deeper than the historical survey. The 2022 survey will help refine drill targets on the Property, including extensions of the known mineralization at Hercules Adit and Frogpond.

Drone Magnetic Survey Planning

The Company is currently planning and designing a Property-wide drone magnetic survey, to help map the location of the host rhyolitic tuff in areas of the property with minimal outcrop, and to identify the fault structures which may have introduced mineralization.

2022 Drill Program Planning

The Company is currently in the final planning stages for a 2022 drill program on the Hercules and looks forward to updating the market with further details over the coming weeks. The planned 2022 program will be the first time the project has been drilled since 1988.

Sampling Methodology

Outcrop samples were collected at irregular spacings based on the presence of outcropping bedrock. A polygon was laid out prior to commencing the field program, within which the samples were collected. The polygon represents the outline of anomalous soil regions on the Property. Sampling lines were established within the polygon area, to act as a guideline for daily traverses. LiDAR data was hillshaded and used to map outcrop locations for sampling. Any outcrops encountered within 50 meters on either side of the lines were sampled. Following collection, the samples were shipped to MSA Labs in Langley, British Columbia for analysis.

Contiguous 2-meter chip samples were collected from mineralized outcrops within the Belmont Zone. Samples were collected by chipping material as evenly as possible with a rock hammer and chisel across consecutive 2-meter intervals.

Mine dump samples were collected by selectively sampling mineralized rock float from waste dump piles located adjacent to small historical adits and test pits across the property.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an independent “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release, is neither inaccurate nor misleading.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. Members of the board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

Chris Paul CEO & Director Telephone +1 (604) 449-6819 Email: cpaul@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.

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.sedar.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.

Toronto, Ontario / October 17, 2022 – Hercules Silver Corp. (formerly Bald Eagle Gold Corp.) (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) announces that Luis da Silva has elected to step down from his role as a director andChairman of the Company’s board of directors, as part of the Company’s ongoing drive to retain cash. The Company and Luis da Silva have agreed to consider reengaging in the future as market conditions evolve and the Hercules project continues to grow.

Management Commentary

“I have enjoyed getting to know the team at Hercules and believe they have re-discovered a very promising project deserved of every dollar currently in treasury,” said Luis da Silva. “I shall be watching keenly as a shareholder as the exploration results and future drill campaign develop.”

“I would like to thank Luis for his significant contributions to the Company,” said Chris Paul, CEO and a director of the Company. “As a valued shareholder, we will continue to keep an open dialog about future opportunities at Hercules,as we move forward with finalizing the Company’s plans for its maiden drill program at Hercules this year.”

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

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

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. 

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.sedar.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.

305-1770 Burrard St. Vancouver, British Columbia V6J 3G7

T: (778) 772-1751/  W: https://goldlionresources.com/

• Infill soil sampling provides higher resolution to new copper-gold anomaly

• New anomaly spans 2.7 kilometers east-west and 1.7 kilometers north-south

• 43 select rock grab samples collected, with 15 returning over 1% copper, up to a maximum of 8.2% copper, suggesting a potentially high-temperature core area of the silver system

• Mapping has outlined a large zone of clay alteration partially overlapping the copper anomaly

• Intrusive rocks mapped on the west side of the copper anomaly may represent a possible source of mineralization

• A circular zinc halo suggests a zonation of metals around a central heat source

• Large bedrock sampling program underway on untested outcrops across the Property

Toronto, Ontario / August 31, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report results of further infill and expansion sampling at its new Leviathan Zone copper-gold soil anomaly, immediately adjacent to the 5.5-kilometer disseminated silver-lead-zinc system on its 100%-owned Hercules Silver Project in Idaho (“Hercules”, or the “Property”). The copper-gold anomaly may represent a possible porphyry copper system, with lenses of skarn that are similar to mineralization at the past-producing Railroad Mine located adjacent to the east of Hercules. Select rock grab samples from within the anomaly have graded from nil to 246 g/t silver with 8.2% copper. The strong silver grades may be derived from skarn lenses within the volcanics or alternatively, may be related to the nearby Copper Cliff Mine, a copper-silver system historically mined by Noranda from the same volcanic formation located to the north of the Property in the nearby town of Cuprum, ID[2]. The presence of intrusive rocks at surface, strong alteration and widespread copper oxide staining provides encouragement for a significant hydrothermal system. An extensive bedrock sampling program is now underway, collecting 2-meter chip samples from outcrops within various soil anomalies on the Property.

Management Commentary

Chris Paul, CEO and Director of the Company, noted: “The new soils data provides greater resolution to the Leviathan Zone, and represents an important step forward in exploring this newly discovered zone. We have noted many characteristics of a significant copper system, including the presence of intrusive rocks at surface, widespread alteration and copper oxide staining of outcrops. Historical age dating – completed as part of a Ph.D. dissertation by our advisor Dr. Tom Henricksen – provided an age estimate of 200 million years for nearby intrusives, coinciding with the important Triassic-Jurassic boundary, the mean age of formation for nearly all significant porphyry copper systems north of the Property in British Columbia. We’re now further advancing the target through systematic sampling of mineralized outcrops, as we look to finalize our drill plan for this exciting new target.”

Figure 1 illustrates a conceptual porphyry copper system, with replacement-style silver-lead-zinc hosted in the adjacent stratigraphy (Sillitoe, 2010)[3].

Geological Setting

The host rocks within the copper anomaly are mapped as Huntington Formation, consisting of Triassic andesitic volcanics interbedded with limestones. Plugs and dykes of quartz porphyry intrude the sequence, which may be the near-surface expression of a deeper intrusive complex. The neighbouring IXL property, immediately southeast of the Property2 and held by EMX Royalty Corp., is underlain by a large intrusive complex with associated porphyry-style copper-gold-molybdenum mineralization.

Several historical showings, including the White Monument, Cliff, Little Gem, Metheny, Yellow Bride, Long Cut and Big Cut prospects, occur mostly to the southeast of the new copper anomaly. Historical trenching at the Property’s Big Cut prospect reportedly uncovered en-echelon mineralized structures containing chalcopyrite as disseminations, and less commonly as semi-massive lenses. The copper mineralization is associated with rhyolite sills and dykes, suggesting a possible relationship as feeder dykes to the overlying Hercules Rhyolite. Historical sampling at the Big Cut prospect, discussed in unpublished reports obtained by Hercules Silver, yielded grades of up to 1.78% copper across 90 feet (~27 meters) and 1.3% copper across 57 feet (~17 meters). Silver was only selectively assayed at the time. Other notable historical trench intercepts at the Big Cut prospect noted in the reports include:

Table 1 – Select Historical Trench Results – Big Cut and Surrounding Prospects

Zone	Length (ft.)	Length (m)	Cu (%)	Ag (oz/t)
Big Cut	40	12.2	1.58	NR
Big Cut	180	54.9	0.94	NR
Big Cut	40	12.2	0.91	NR
Big Cut	60	18.3	0.91	NR
Cut Above	115	35.1	0.93	NR
Cut Above	7	2.1	2.68	0.98
Cut Below	60	18.3	0.83	NR
Long Cut	70	21.3	0.63	NR

The assay results reported above are historical in nature and have not been verified by a Qualified Person; therefore, they should not be relied upon.

Portions of the soil grid contain widely scattered test pits, shallow shafts, and adits from the late 1800s and early 1900s. As a result, some soil values may be upgraded or downgraded in these areas, the extent of which is difficult to quantify at this time. The largest and most continuous portion of the copper soil anomaly, however, occurs in the center of the Property – an area with almost no known historical disturbance.

Sampling Methodology

Samples were collected at 50-meter grid spacings with the use of dutch soil augers, making an effort to consistently sample the same B horizon material at each sample site. The B horizon typically occurs at a depth of approximately 10-30 centimeters on the Property and comprises silt-size material with elevated levels of clay and iron and manganese oxyhydroxides. The B horizon soil is known to preferentially adsorb trace metals such as silver, lead and zinc and is often the preferred sample medium in mineral exploration surveys. Following collection, the samples were bagged, dried and shipped to MSA Labs in Langley, British Columbia for analysis.

Sample Analysis and QAQC

All soil samples were prepped and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and sieved to -180 micron (80 mesh). Following preparation, soil assays were determined by IMS-117 method. A 20g aliquot of the prepared pulp was cold-digested with HNO3, then HCl is added, and the sample was heated at 130˚C for 40 minutes. Digestion was carried out in disposable plastic bottles to eliminate cross-contamination from digestion vessels and heated via graphite block for even heating. The resulting solution was analyzed via ICP-MS and ICP-ES for 39 elements and was corrected for inter-element spectral interferences.

Blind certified reference materials (CRMs) purchased from an independent commercial laboratory and duplicate samples were inserted by the Company at a frequency of 1 in every 25 samples. Duplicate samples were prepared in the field by homogenizing soil collected at a specific sample site and placing it in two soil sample bags in sequence. CRM results for copper, silver and zinc were all within acceptable limits with no failures.  Several low failures on gold for two CRMs and a general low-bias versus the certified mean on all three of the CRMs submitted to the laboratory were noted and merit additional investigation. MSA Labs also employs internal quality control standards, duplicates and blank samples at set frequencies. MSA Labs gold results against one of its internal commercial certified reference materials tested low with one -3SD failure, whereas its second CRM tested with acceptable results. Lab blanks showed no indications of contamination. 

Duplicate sample precision results for copper, silver and zinc were excellent.  Gold results showed more variation as expected due to the relatively low values.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an independent “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release, is neither inaccurate nor misleading. Some of the technical information presented in this news release was collected prior to the enactment of NI 43-101 standards and includes paper records maintained by various companies that conducted exploration work on the Property.  Details of the geochemical sampling methods, security, assaying, and quality control methods used in the generation of this historical technical data are unknown to Hercules Silver Corp.; however, in Mr. Cameron’s opinion, the historical geochemical soil sampling results are verified by the Hercules Silver Corp. sampling program for the purposes of NI 43-101.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. Members of the board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

Chris Paul CEO & Director Telephone +1 (604) 449-6819 Email: cpaul@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.

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.sedar.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.

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

[2] This news release contains information about adjacent properties on which Hercules Silver has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

[3] Sillitoe, R. H. (2010). Porphyry Copper Systems. Economic Geology, 105, 3–41.

 

Toronto, Ontario / August 24, 2022 – Hercules Silver Corp. (formerly Bald Eagle Gold Corp.) (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to announce that the TSX Venture Exchange (the “TSXV”) has approved the Company’s name change from Bald Eagle Gold Corp. to Hercules Silver Corp (the “Name Change”). The Company’s common shares (the “Common Shares”) will commence trading under the name Hercules Silver Corp. today at the market opening of the TSXV.

The Common Shares will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0). The Common Shares will trade under CUSIP and ISIN numbers 42710L106 and CA42710L1067, respectively, following the Name Change.

The Name Change was fully described in the Company’s management information circular dated June 10, 2022, which can be accessed on the Company’s SEDAR profile at www.sedar.com, and was approved by shareholders of the Company at the Annual and Special Meeting of Shareholders held July 15, 2022.

The rebranding features a new website, www.HerculesSilver.com, where a new redesigned corporate presentation can also be found. Readers are encouraged to explore the website which features a new look and content with enhanced visuals.

Management Commentary

“We are pleased to officially begin trading today under Hercules Silver Corp., which marks the beginning of our new journey as an exciting new silver explorer in the mining-friendly state of Idaho,” said Hercules Silver CEO and director, Chris Paul. “We encourage investors to visit our newly designed website and presentation on the project.”

Exploration Update

The Company’s surface-based exploration at the 100% owned Hercules Silver Property, located in Washington County, Idaho, USA (the “Hercules Property”) is progressing well. Ongoing work includes geochemical sampling, detail mapping and planning for a property-wide 3D IP geophysical survey. The Company recently completed a follow-up soil survey on its new copper anomaly for which assays are expected imminently. Field crews are now following up on new targets generated by soil sampling with detailed chip and channel sampling of outcrops. The Hercules Property is fortunate to have very good outcrop exposure, which allows for low-cost surface sampling of the new targets. Over 1,000 rock chip samples are planned on a 50-meter grid pattern within the new targets, permitting the Company to collect widespread bedrock geochemical data on surface ahead of a drill program planned for later this year. This strategy will provide 2D geological and geochemical data for the entire surface exposure of new targets, including lithology, alteration, mineralization, as well as silver, copper, lead and zinc grades over kilometers of bedrock exposure. This ongoing field program will allow the Company to map the geology and metal grades of the surface in 2D, prior to defining the third dimension with drilling.

In addition to the widespread bedrock sampling and logging program currently underway, the Company has also engaged Specialized Geological Mapping Ltd. of Inverness, Scotland to carry out several weeks of detailed mapping. Scheduled to begin on August 25, 2022, the mapping will be focused on the key structural controls and stratigraphy controlling mineralization which will be used to form a predictive model for targeting potentially higher-grade portions of the system at depth. Alteration and mineralization will be the focus at the new copper porphyry target, to help vector towards the center of that system.

A property wide 3D induced polarization (IP) survey is scheduled to commence in late summer, subject to contractor availability. Historical IP surveys effectively correlated high chargeability values to silver mineralization at the Hercules Adit and Fishpond Zones and therefore it was selected as the geophysical method of choice for the Hercules Property. The historical IP also indicated a strong zone of chargeability coincident with the best silver-in-soil anomaly on the Hercules Property at the Grade Creek Zone. The historical IP anomaly has never been tested by drilling and remains open to the north and at depth. It will be included within the new, deeper seeking 3D survey to better define its true geometry and extent. The copper anomaly discovered this year will also be covered to investigate the potential for a large copper porphyry system. Altogether the survey will cover approximately 2,500 acres of mineralized footprint to over 600 meters of depth, an incredibly large volume of rock for an IP survey. Line lengths will be up to 5 kilometers.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

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

Qualified Person

Exploration activities at the Hercules Property are administered on site by the Company’s Vice President of Exploration, Antoine Soucy-Fradette. In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, Donald E. Cameron, Technical Advisor to Hercules Silver Corp. and an independent Qualified Person, has reviewed and approved the technical and scientific content of this news release.

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.

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.sedar.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.

Toronto, Ontario / August 18, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to announce that it has completed its name change to reflect the recent changes in the Company’s business and exploration activities. As part of this initiative, Hercules Silver has effective as of today, amended its articles in accordance with the Business Corporations Act (Ontario) to changes its name from Bald Eagle Gold Corp. to Hercules Silver Corp. (the “Name Change”).

The Company’s common shares (the “Common Shares”) are expected to begin trading on the TSX Venture Exchange under the new name at the market open on or around August 24, 2022.

The Company will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0). The Common Shares will trade under CUSIP and ISIN numbers 42710L106 and CA42710L1067, respectively, following the Name Change.

The Name Change was fully described in the Company’s management information circulate dated June 10, 2022, which can be accessed on the Company’s SEDAR profile at www.sedar.com, and was approved by shareholders of the Company and the Annual and Special Meeting of Shareholders held July 15, 2022.

Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

For further information please contact:

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

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.

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.sedar.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.