Top

• Phase I Drill Plan – An initial 12,500 m first phase of drilling has commenced at the Hercules Property, testing five new target areas shown in Figure 2, all of which lie along trend from the Leviathan copper system. Upon completion of this phase and evaluation of results, the Company anticipates expanding to a total of 20,000 to 30,000 m.

• Second Drill Rig Mobilized Ahead of Schedule – A second drill rig has been mobilized to resume drilling at hole HER-25-18, previously paused at 841 m depth. Observations of potassic alteration at depth suggest the potential for a broader Footwall Zone than previously interpreted. The rig has undergone significant winter upgrades, expected to materially improve drilling efficiency (Figure 1).

Toronto, Ontario--(Newsfile Corp. - March 20, 2026) - Hercules Metals Corp.(TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) ("Hercules" or the "Company") is pleased to provide details on its initial 12,500 m drill program, currently underway at five new target areas along trend from the Leviathan copper discovery at its Hercules Property in western Idaho (the "Property").

Figure 2 outlines the approximate allocation of planned drilling across the following targets:

1. Leviathan Southwest Extension (~3,000 m) – The Leviathan copper system remains open to the southwest. Drilling will focus on extending known mineralization in this direction and testing for continued system growth.

2. Leviathan's Footwall MT Anomaly (2,500 m) – Recent drilling at the northern extent of Leviathan has encountered increasing copper grades at depth (see previous news release dated Feb 4, 2026), approaching a deeper northeast-plunging magnetotelluric ("MT") anomaly that remains untested. At least two deep drill holes are planned to evaluate the source and significance of this anomaly.

3. Southern Flats Target (~3,000 m) – Southern Flats represents the largest and most robust geophysical anomaly identified on the Property to date. Defined through two phases of MT surveying, the target is characterized by a discrete, vertically extensive, cylindrical conductor situated directly along strike to the south of Leviathan. Approximately three deep drill holes are planned to test this target over a meaningful strike extent.

4. Pegasus Target (~3,000 m) – Located several kilometers southeast of Southern Flats, the Pegasus target exhibits a similar MT geophysical signature. A recently completed induced polarization ("IP") survey has also identified a coincident chargeability anomaly, significantly increasing confidence that Pegasus may represent an untested porphyry center.

5. The Hook Target (~1,000 m) – The Hook target is defined by a moderate conductivity anomaly that returned the strongest chargeability response from the 2026 IP survey. The magnitude of this response is comparable to that associated with the original Leviathan IP anomaly that led to the 2023 discovery hole HER-23-05. Final IP results remain pending, while planning for additional IP is underway.

Figure 1: Second drill rig mobilizing on site, to resume drilling at HER-25-18 following winter upgrades.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/289296_5bdbb11c548dfa32_002full.jpg

Figure 2: Initial 12,500 m phase of a broader 20,000 to 30,000 m 2026 drill program targeting Southern Flats, Pegasus, Hook, the Footwall MT anomaly, and Leviathan's southwest extension.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/289296_5bdbb11c548dfa32_003full.jpg

Option Grant

The Company has granted an aggregate of 1,325,000 stock options (the "Options") to certain officers, employees and consultants of the Company, pursuant to its omnibus incentive plan. The Options are exercisable for a period of five years at an exercise price of CAD$0.64. The options will vest in four equal tranches over a period of 24 months.

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289296