Hercules Metals' MT survey shows anomaly at Hercules

Executive Summary

• Ground‑based MT survey over >100 km² identified a strong conductive anomaly that aligns with known copper mineralization at the Leviathan porphyry system and extends several kilometres beyond current drilling.
• The anomaly displays a classic “donut‑shaped” high‑conductivity ring (≤70 Ω·m) centered under the Southern Flats zone, where Hercules holds surface mining rights, indicating potential for a larger undiscovered porphyry center.
• An accelerated 2025 drill campaign is underway, with hole 25‑16 now drilling into the anomaly and plans for a 2–3‑hole fence across its three‑kilometre width; near‑term assay results are expected in the coming weeks.

Key Details

• Survey Scope & Depth: 100+ km² MT survey conducted by Moombarriga USA Ltd.; investigation depth increased from ~800 m (previous IP survey) to >6 km.
• Geophysical Signature: Major conductivity anomaly coincident with Leviathan porphyry; a three‑kilometre‑wide high‑conductivity ring (<100 Ω·m, down to <70 Ω·m in places) surrounds a moderately conductive core (100–200 Ω·m).
• Correlation with Mineralization: Anomaly aligns with copper mineralization drilled along 1.3 km of strike length; anomaly extends beyond current drill limits, especially under the Southern Flats zone.
• Drill Program Status:
• Over 9,000 m completed in 2025 across eleven deep holes (target originally 12,000 m).
• Four additional holes currently underway; RC precollars employed to boost productivity.
• Hole 25‑16 is a significant step‑out drilling from the northeast edge of the donut anomaly; plans for an initial 2–3‑hole fence across the three‑kilometre width.
• Future Drilling Plans: Program expanded beyond original target, aiming to maximize production with five drill rigs before seasonal shutdown.
• Assay Timeline: Initial 2025 drill hole assays expected in coming weeks (lab delays noted); subsequent results to be released continuously into Q1 2026.
• Management Commentary: CEO Chris Paul highlighted the “donut” feature as a classic indicator of large porphyry systems and emphasized the potential for substantial expansion beneath post‑mineral cover in Southern Flats, where surface rights are held.

Notable Quotes

“The initial results from the expanded MT survey are tremendously encouraging for Leviathan's growth potential… this could potentially mean that Leviathan represents only a portion of a much larger system…” – Chris Paul, CEO & Director, Hercules Metals Corp.

Qualified Person: Dillon Hume, P.Geo., Vice‑President Exploration (NI 43‑101 qualified).