Hercules Metals Announces C$15 Million Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, July 28, 2025 (GLOBE NEWSWIRE) -- Hercules Metals Corp. (TSX-V: BIG) (OTCQB: BADEF) (FRA: C0X) (“Hercules Metals” or the “Company”) is pleased to announce it has entered into an agreement with Canaccord Genuity Corp. (“Canaccord Genuity”) and BMO Capital Markets (collectively with Canaccord Genuity, the “Co-Lead Agents”), as co-lead agents and co-lead bookrunners, and on behalf of a syndicate of agents to be named (collectively with the Co-Lead Agents, the “Agents”), pursuant to which the Agents will offer for sale up to 21,430,000 common shares in the capital of the Company (the “Shares”) at a price of C$0.70 per Share (the “Offering Price”), on a brokered private placement “best efforts” agency basis, for aggregate gross proceeds to the Company of up to C$15,001,000 (the “Offering”). The Company has also granted the Agents an option exercisable at any time up to the closing of the Offering, to offer for sale up to an additional 3,214,500 Shares at the Offering Price, for additional gross proceeds of up to C$2,250,150.

The Shares will be offered for sale by way of private placement pursuant to the listed issuer financing exemption under section 5A.2 of National Instrument 45-106 – Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”) in each of the Provinces of Canada (other than the Province of Quebec), and in the United States pursuant to exemptions from the registration requirements of the U.S. Securities Act, and in those other jurisdictions outside of Canada and the United States provided that no prospectus, registration statement or similar document is required to be filed or no ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The Shares issued under the Listed Issuer Financing Exemption will not be subject to a statutory hold period pursuant to applicable Canadian securities laws.

The Company intends to use the net proceeds of the Offering for exploration and development of its 100% owned Hercules property in western Idaho (the “Hercules Property”), and for general working capital purposes.

The Offering is scheduled to close on or about August 14, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

There is an offering document relating to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company’s profile at www.sedarplus.ca and at https://www.herculesmetals.com/. Prospective investors should read this offering document before making an investment decision.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

For Further Information Please Contact:

Chris Paul
CEO & Director
Telephone +1 (604) 670-5527
Email: chris@herculesmetals.com

Greg DiTomaso
Investor Relations
Telephone: +1 (647) 243-4074
Email: gditomaso@herculesmetals.com

About Hercules Metals Corp.

Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FRA: C0X) is an exploration company focused on developing America’s newest porphyry copper district, in Idaho.

The 100% owned Hercules Property located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important new discoveries in the region 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 build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide.

Caution Regarding Forward-Looking Statements

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 news release may include, without limitation, statements regarding anticipated completion of the Offering, the proposed use of proceeds of the Offering, the expected TSXV approval of the Offering, and the execution of future exploration programs on the Hercules Property.

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; 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; the 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 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 RELEASE.

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