Hercules Metals Provides Update on 2025 Drilling at the Leviathan Porphyry System

Executive Summary

• The 2025 drilling campaign on the Leviathan porphyry copper discovery has been expanded to over 13,000 m, surpassing the original 12,000 m target.
• Sixteen holes have been completed, three are in‑progress and additional pre‑collared RC holes are ready, including new testing of the large “Donut” Anomaly in the Southern Flats Zone.
• Assay samples from nine holes (25‑03 to 25‑11) have been shipped to the lab; results are pending.

Key Details

• Drilling Extent: >13,000 m drilled to date; campaign expected to continue into November 2025 weather permitting.
• Hole Count: 16 completed holes; 3 holes currently drilling; 3 RC pre‑collared holes ready for completion.
• New Target – “Donut” Anomaly:
• Core holes 25‑16 and 25‑22 now testing the anomaly; hole 25‑23 pre‑collared and ready.
• The anomaly is a ~3 km‑wide high‑conductivity feature, one of the largest geophysical targets identified by the company.
• Assay Work: Samples from nine completed holes (25‑03 through 25‑11) have been sent to laboratory; additional shipments ongoing.
• Footwall Zone Definition Drilling: Holes 25‑14 (in‑progress), 25‑18 and 25‑21 (pre‑collared) aimed at testing continuity, potentially extending mineralization up to ~1 km.
• Hanging Wall Zone Extension: Hole 25‑16 testing southern extension of Leviathan; holes 25‑22 and 25‑23 evaluating whether the Donut Anomaly represents a separate porphyry centre.
• Contractor Performance:
• RC drilling season completed; three pre‑collared holes to be advanced with core drilling (Alford Drilling thanked).
• Dorado Drilling USA delivered deep holes on schedule, achieving cost savings; a third Dorado rig mobilized for the remainder of the campaign.
• Scout Drilling contract concluded; three efficient Dorado core rigs will remain active through season end.
• Qualified Person: Information reviewed and approved by Dillon Hume, P.Geo., VP Exploration (NI 43‑101 Qualified Person).

Notable Quotes

• “I am encouraged by the steady progress of our 2025 drilling campaign… By employing a fence‑based approach, we are able to pinpoint holes that demonstrate the strongest continuity across each 200‑metre section, systematically expanding the deposit and delivering value for our shareholders.” – Chris Paul, CEO & Director
• “The new ‘Donut’ Anomaly reveals a strong conductivity signature that spans more than three times the width of Leviathan, underscoring the district‑scale potential of this new and emerging porphyry copper belt in the United States.” – Chris Paul, CEO & Director