Hercules Metals Intersects 788 m of 0.54% Copper Equivalent and 802 m of 0.40% Copper Equivalent at the Leviathan Porphyry System in Idaho

13:00 Uhr  |  Newsfile

Drilling and IP Surveying Also Underway at Hook Target, Investigating the Strongest Near Surface Chargeability Anomaly on the Property

• HER-25-21 extends Leviathan's Footwall Zone to the southwest, returning:

  • 801.6 m of 0.40% CuEq (0.30% Cu, 82 ppm Mo, 5.3 g/t Ag, 0.01 g/t Au)
  • And Incl. 107.8 m of 0.52% CuEq (0.43% Cu, 104 ppm Mo, 1.8 g/t Ag, 0.02 g/t Au)
  • And Incl. 206.3 m of 0.45% CuEq (0.39% Cu, 98 ppm Mo, 0.7 g/t Ag, 0.01 g/t Au)
    
    

• HER-25-18 was also further extended downhole, following a brief winter drilling pause, returning a final composite interval of:

  • 787.9 m of 0.54% CuEq (0.43% Cu, 91 ppm Mo, 3.5 g/t Ag, 0.03 g/t Au)
  • Incl. 212.8 m of 0.89% CuEq (0.67% Cu, 128 ppm Mo, 10.2 g/t Ag, 0.05 g/t Au)
    
    

• High Grades at the Top: All three holes reported in this news release also include high-grade intersected at the top of the system, summarized as follows:

  • HER-25-18 - 57.4 m of 1.18% CuEq, beginning at 188 m downhole (158 m true depth below surface)
  • HER-25-21 - 21.3 m of 2.00% CuEq, beginning at 224 m downhole (214 m true depth below surface)
  • HER-25-24 - 17.8 m of 1.54% CuEq, beginning at 236 m downhole (112 m true depth below surface)

• System Remains Open: The Leviathan Porphyry remains open for expansion to the southwest, where further step-out drilling is planned for the 2026 season.

• Drilling Underway at the Hook Target: Reconnaissance drilling has now commenced at the Hook target, to test the strongest chargeability anomaly identified on the Property to date, with values up to 40 mV/V. 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 for the initial test.

• IP Survey Continuing: Encouraged by strong initial results at the Hook target, the Company has expanded the IP survey to seven lines covering 1.7 km of prospective strike length. The chargeability anomaly has now been traced across five completed lines, covering 1.2 km of strike length. The two most recent lines were extended to cross the Leviathan porphyry system as a calibration check, where they returned a near-identical geophysical response.

• Additional IP Lines Planned at Pegasus: Upon completion of the Hook survey, crews will move back to the Pegasus target to conduct a series of long east-west IP lines designed to test the full width of a major structural corridor, within which porphyry mineralization is interpreted to have been emplaced at the Hercules Property.

• First Pegasus Hole Complete: The first drill hole at the Pegasus target, HER-26-02, has been completed. The hole intersected distal porphyry alteration, veining, and mineralization, analogous to early drilling completed at the Southern Flats target, prior to discovering strong copper mineralization to the west in HER-25-25. The upcoming IP survey will test for the presence of near surface chargeability approximately 2 km to the west of HER-26-02, along trend from the same structural zone hosting Southern Flats.

Toronto, June 16, 2026 - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) ("Hercules" or the "Company") is pleased to announce further results from its 2026 drilling campaign at the Leviathan Porphyry on its Hercules project in western Idaho (the "Property"). HER-25-21 was completed from a 2025 RC pre-collar, and extended Leviathans footwall zone to the southwest with an intercept of:

• 801.6 m of 0.40% CuEq (0.30% Cu, 82 ppm Mo, 5.3 g/t Ag, 0.01 g/t Au)
• Incl. 21.3 m of 2.00% CuEq (0.22% Cu, 33 ppm Mo, 165.7 g/t Ag, 0.01 g/t Au)
• And Incl. 107.8 m of 0.52% CuEq (0.43% Cu, 104 ppm Mo, 1.8 g/t Ag, 0.02 g/t Au)
• And Incl. 206.3 m of 0.45% CuEq (0.39% Cu, 98 ppm Mo, 0.7 g/t Ag, 0.01 g/t Au)

HER-25-18 was also further extended downhole, following a brief winter drilling pause at the end of 2025. The final composite assay result for HER-25-18 is:

• 787.9 m of 0.54% CuEq (0.43% Cu, 91 ppm Mo, 3.5 g/t Ag, 0.03 g/t Au)
• Incl. 212.8 m of 0.89% CuEq (0.67% Cu, 128 ppm Mo, 10.2 g/t Ag, 0.05 g/t Au)
• And Incl. 57.4 m of 1.18% CuEq (1.06% Cu, 112 ppm Mo, 3.6 g/t Ag, 0.04 g/t Au)

Chris Paul, CEO for Hercules Metals, "We're pleased to further extend mineralization to the southwest as the Leviathan porphyry copper system continues to demonstrate its continuity and growth potential. We look forward to completing further ongoing step-outs to the southwest as the 2026 season progresses.

We're also very encouraged by the ongoing IP results at the new Hook target. What initially began as a subtle MT anomaly has quickly evolved into a high priority target, and the first to exhibit a near identical IP response to Leviathan. We look forward to receiving the final survey results once the remaining lines are completed, after which the crew will return to the Pegasus anomaly to investigate the potential for additional near-surface mineralization."

Table 1: Highlight Intervals

Figure 1: Drill results to date at Hercules relative to a geologically constrained MT conductivity depth slice.

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Figure 2: Cross-section E-E', showing drill hole HER-25-18, HER-25-21, and HER-25-24.

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Hook IP Anomaly

A new 2026 IP survey at the Hook target has identified a strong, continuous, near-surface chargeability anomaly exhibiting a geophysical response strongly analogous to the Leviathan porphyry copper system in terms of scale, strength, geometry, and orientation. The anomaly is located approximately 3 kilometers east of, and subparallel to, the Leviathan porphyry system and its associated chargeability signature (Figure 8).

To validate the comparison, IP lines 4 and 5 were extended to also cross over the Leviathan system as a calibration check, where they returned a highly comparable response, with both zones showing chargeability values ranging from 16-19 mV/V (Figures 6 and 7). Upcoming IP lines 6 and 7 will look to extend both the Hook and Leviathan anomalies further north.

IP lines 1 through 3 were run exclusively across the Hook target, where the strongest chargeability anomaly on the Property has been returned, with values of up to 40 mV/V (Figures 3-5).

Drilling has now commenced in hole HER-26-03, to test the area of strongest chargeability between IP lines 1 and 2 (Figures 3, 4, and 8). The anomaly begins within 100 m of surface on these lines; however, the first hole is collared from the nearest existing access road which requires an estimated 350-400 m drilled length to reach the target zone. If initial drilling is successful, the Company will evaluate options for permitting and constructing new temporary roads directly across the anomaly, to test where it comes closest to surface.

Figure 3: IP line 1N (looking north) at the Hook target. The >20 mV/V anomaly comes within 100 m of surface, where recent landslide cover conceals the target. The initial drill test in HER-26-03 is collared from an existing access road to the west of the anomaly, requiring an estimated 350-400 m drilled length to reach the target zone.

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Figure 4: IP line 2N (looking north) at the Hook target, with the strongest values of the survey, up to 40 mV/V.

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Figure 5: IP line 3N (looking north) at the Hook target.

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Figure 6: IP line 4N (looking north), which was extended west to cover both the known Leviathan porphyry system (left side) as a calibration check, and the new Hook target (right side) for direct comparison.

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Figure 7: IP line 5N (looking north), which was extended west to cover both the known Leviathan porphyry system (left side) as a calibration check, and the new Hook target (right side) for direct comparison.

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Figure 8: Compilation map showing all four targets on the Hercules Property, including the Leviathan Porphyry Copper System, the new Southern Flats discovery, and the new Hook and Pegasus targets. The unconstrained MT conductivity model in the background indicates the broad structural corridor (warm colours) within which porphyry copper intrusions are interpreted to have been emplaced. The ongoing IP survey will investigate the potential for near surface porphyry centers within this broad conductive corridor.

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Pegasus Reconnaissance Drilling

HER-26-02 was collared within an approximately 3 kilometer wide structural corridor, distinguished by strongly elevated MT conductivity, which is host to both the Leviathan and the Southern Flats porphyry copper centers. The hole was collared on the eastern side of the corridor, where it intersected distal alteration and minor quartz-magnetite-pyrite veining, with weak to anomalous copper and molybdenum, consistent with similar results returned from early drilling on the same side of the corridor at the Southern Flats zone.

Drawing on geological insights gained from the discovery of Southern Flats; the western portion of the corridor is interpreted to have certain key structural controls indicative of higher porphyry copper potential. Upon completion of the final two IP lines at Hook, the western side of the structural corridor will be surveyed next, to investigate the potential for associated near-surface chargeability.

Surveyed Drill Collar Locations

Table 2: Surveyed collar data for drill holes reported in this release

Sample Analysis and QAQC

All drill core samples were prepped at MSA Labs in Elko, Nevada and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and crushed to 2 mm, from which a 250 g sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, assays were determined by the IMS-230 method. A 0.25 g 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, 0.25 g aliquot size being insufficient to overcome the nugget effect.

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

A 50 g split from the crushed and pulverized samples are composited into larger 500 g composite samples (consisting of ten continuous samples) and analyzed for gold utilizing CPA-Au1 photon assay method. Certain material gold results from the composite samples are then selected for re-analysis, by individual sample, as a 30 g fire assay (FAS-111 Method). Gold assays below detection limit are treated as zero values for composite calculations.

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 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 Corp..

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

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 The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.
² 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).
³ Previously reported on March 30, 2026

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•  801.6 m of 0.40% CuEq (0.30% Cu, 82 ppm Mo, 5.3 g/t Ag, 0.01 g/t Au)
•  And Incl. 107.8 m of 0.52% CuEq (0.43% Cu, 104 ppm Mo, 1.8 g/t Ag, 0.02 g/t Au)
•  And Incl. 206.3 m of 0.45% CuEq (0.39% Cu, 98 ppm Mo, 0.7 g/t Ag, 0.01 g/t Au)