Hercules Metals completes IP survey at Hook, defines near-surface chargeability anomaly

Seven Completed Survey Lines Highlight a 1.8-Kilometer Anomaly with Geometry and Intensity Comparable to the Leviathan Discovery Survey Completed: Approximately 28 line-kilometers of induced polarization ("IP") surveying have now been completed across seven lines at the Hook target, expanding upon a previously announced reconnaissance line which returned exceptionally high chargeability, up to 40 mV/V. Strong Continuity : The completed survey has now outlined the chargeability feature extending over a strike length of ~1.8 kilometers. Strongest Response Near Surface: The highest-intensity portion of the anomaly, ranging from 20-40 mV/V, is modelled to begin within approximately 100 meters of surface on Lines 1 and 2, providing a near-surface drill target.

Comparable Geometry to Leviathan Discovery: The completed survey reveals a shallow northeast plunging geometry, with similar scale, orientation and intensity to the IP signature at the Leviathan porphyry copper discovery (Figure 1). Drilling Underway: The first drill hole testing the target is currently at 200 meters depth. The anomaly begins approximately 100 m below surface; however, a nearby existing access road is being utilized which requires an estimated 350-400 m drilled length to reach the target zone on the initial test (Figure 4).

Toronto, Ontario--(Newsfile Corp. - July 2, 2026) - Hercules Metals Corp.   (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X)  (" Hercules " or the " Company ") is pleased to announce the final results of seven induced polarization ("IP") geophysical survey lines recently completed at the Hook target, on its 100% owned Hercules Property in western Idaho (the " Property "). The completed survey defines a large, continuous chargeability anomaly that extends across all seven lines and exhibits a geometry that closely resembles the IP signature seen at the Company's Leviathan porphyry copper discovery. The survey was designed to determine the lateral extents of a new near surface anomaly announced earlier in the year.

The final results provide increasing confidence in the potential for additional porphyry mineralization concealed beneath shallow post-mineral cover. At Leviathan, elevated chargeability is closely associated with both porphyry copper mineralization and a surrounding pyrite alteration halo, making IP one of the most effective exploration tools for concealed porphyry systems on the Property. Chris Paul, CEO of Hercules Metals, "Encountering continuous chargeability across seven widely spaced survey lines has significantly strengthened our geological confidence in the Hook target.

With a geometry and intensity comparable to that at the nearby Leviathan discovery, and strong values beginning within 100 meters of surface, we are excited that drilling is now underway at another large new porphyry copper target in the emerging Hercules district." Figure 1: Three-dimensional view, looking northwest, showing the recently completed seven-line IP survey at the Hook target and resulting new chargeability anomaly in the lower right (orange to pink), alongside the Leviathan IP anomaly in the upper left. The same colour scale has been applied to both datasets, highlighting the similarity in scale, geometry and intensity between the two anomalies. In-progress drill hole HER-26-03 is shown in black.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9425/303694_f31a53800451da59_002full.jpg Figure 2: Compilation map showing the Leviathan and Southern Flats discoveries, as well as the new Hook and Pegasus targets. MT conductivity in the background highlights a district-scale structural corridor, within which the ongoing IP survey is exploring for shallow porphyry centers. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9425/303694_f31a53800451da59_003full.jpg Figure 3: Hook target showing Cu-Mo soil geochemistry surrounding landslide- and basalt-covered areas.

Pink traces indicate the anomalous portions of completed IP lines. The strongest chargeability response occurs beneath shallow cover within a broader copper-molybdenum geochemical anomaly. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9425/303694_f31a53800451da59_004full.jpg Figure 4: East-west cross-section (looking north) comparing the Leviathan (left) and Hook (right) IP chargeability anomalies.

Chargeability values greater than 17 mV/V are shown using a common colour scale, illustrating the similar intensity of both targets. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9425/303694_f31a53800451da59_005full.jpg Southern Flats Drilling Update A second drill hole has been completed to a depth of 1,255 m at the new Southern Flats porphyry discovery. Drill hole HER-26-01 successfully extended porphyry mineralization 200 meters west of HER-25-25, where the Company recently announced an intercept of 177 m of 0.66% CuEq 1  at a new porphyry center (See NR dated May 26, 2026 ).

Drill core has been sampled and is being shipped to MSA Labs for analysis. Current geological and geophysical information suggests the system strikes north-south, indicating considerable east-west width to the mineralization, which still remains open on both sides. MT geophysics and preliminary IP indicate the system likely extends for a significantly greater distance north-south along strike.

A narrow porphyry dyke was intersected in HER-26-01, but a large causative porphyry remains to be encountered, suggesting significant scale remains to be defined. Potential Near Surface Extension at Leviathan Updated geological modelling has identified strong potential for a southern extension of shallow near-surface mineralization at the Leviathan system, in an area with silver-mineralized rhyolite cover mapped at surface, with only 125 meters estimated true depth to the porphyry target below. A new step-out hole has commenced to test this prospective extension of Leviathan's hanging-wall enrichment zone, which remains open toward Southern Flats.

Drill testing this shallow extension of Leviathan will allow faster turnaround of results from a high value target area, as well as support consistent flow of exploration results from different zones, while assays remain pending at Southern Flats. Qualified Person The scientific and technical information in this news release has been reviewed and approved for disclosure by Dillon Hume, P.Geo. and Vice President, Exploration for the Company. Mr. Hume is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects .

About Hercules Metals Corp. Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) is an exploration Company focused on developing America's newest porphyry copper district, in Idaho. The 100% owned Hercules Project, located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important new discoveries in the country to date. The Company is well positioned for growth through continued drilling, supported by a strategic investment from Barrick Mining Corporation.

With the potential for significant scale, the Company's management and board of directors aims to deliver value to shareholders through proven discovery success. For further information please contact: Chris Paul CEO & Director Telephone +1 (604) 670-5527 Email: chris@herculesmetals.com Dillon Hume VP, Exploration Telephone: +1 (604) 283-2043 Email: dhume@herculesmetals.com This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; assay results of future drill holes; results of operations, and the expected financial performance of the Company. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca .

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES METALS 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 METALS 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. 1  Copper equivalent (CuEq) for drill intersections is calculated using a three-year trailing average for each commodity, which equates to US$ 4.20/lb Cu, US$ 2,600/oz Au, US$ 30.50/oz Ag and US$ 21.50/lb Mo, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.000512 * Mo ppm) + (0.010591 * Ag g/t) + (0.902879* Au g/t). To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303694 Newsfile Corp. July 2, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com