Hercules Metals discovers evidence for new porphyry center at Hook Target, Idaho

Hercules Metals Corp. [TSXV: BIG; OTCQB: BADEF; FSE: C0X] reported that HER-26-03 has intersected intense quartz-sericite-pyrite (phyllic) and skarn alteration at the newly identified Hook target on its 100%-owned Hercules property in western Idaho.

The alteration style identified at Hook is consistent with the edges of other porphyry copper systems on the property and aligns with the results of recently completed geophysical surveys, including Hook’s large, near-surface chargeability anomaly, occurring approximately 3 km east of the company’s Leviathan porphyry copper system.

The Hook target is centered on a large, near-surface chargeability anomaly, however the nearest available drill pad under the company’s existing permit was located on an established road approximately 400 metres west of the anomaly.

Rather than immediately permit new road access to the target, the company elected to first use the existing permitted drill pad to establish geological support for the target. Core logging of HER-26-03 has now indicated support for advancing such additional permitting and road construction.

HER-26-03 began in relatively unaltered rock outside of the anomaly which transitioned to increasing phyllic alteration, with strong pyrite ranging from 5-10%, as disseminations and porphyry-style “D-veins”. Importantly, the alteration appears consistent with the pyrite halo surrounding the company’s nearby Leviathan porphyry copper system.

Unlike at the Leviathan target, HER-26-03 did not have to drill through younger post-mineral cover and was drilled entirely within Triassic-age geology, which hosts the Late Triassic porphyry copper mineralization on the property.

The hole intersected volcanic and carbonate-bearing sedimentary lithologies consistent with the lower portion of the Triassic stratigraphy mapped throughout the Hercules district. This lower stratigraphic sequence includes iron- and carbonate-rich host rocks that are considered favourable for the development of skarn and associated copper mineralization in porphyry systems.

Assays are pending; however, given the distal nature of the intercept within the interpreted pyrite halo, the results are expected to be more useful for providing additional vectoring information toward the system than for returning significant copper-molybdenum intercepts.

Drilling efforts will move northeast toward the high-chargeability core at the Hook anomaly targeting a potential causative porphyry intrusion, which may host a shell of copper-molybdenum mineralization, akin to that observed at the Leviathan porphyry system.

George Ogilvie, President and CEO, commented: “The team utilized existing road infrastructure to provide an efficient initial test of the newly identified IP/MT geophysical anomaly at Hook, without incurring the permitting costs and associated delays that would have been required for new drill access. This initial drill test has provided encouraging geological indications of potential porphyry-related alteration, supporting the strategy to continue testing the high-strength core of the anomaly along its strike extent.

He continued, “Looking forward, continued drilling will focus on expanding our near-surface targets, particularly at Leviathan, where more than 30,000 metres of combined drilling has tested both the at-surface epithermal silver mineralization and the underlying copper porphyry system.

“In addition, initial drilling in HER-26-03 has upgraded Hook to a particularly compelling near-surface target, supported by geological and geophysical similarities to Leviathan. These results warrant an updated plan of operations to facilitate the next phase of follow-up drilling, targeted to commence in 2027.”

Two diamond drills are currently active at the Hercules property. Both drills are conducting southern step outs (HER-26-05 and HER-26-06) of the Leviathan system, with a focus on expanding hangingwall and footwall mineralization along strike and to depth, in an area with a gap in drilling between Leviathan and Southern Flats.

The company also reported that, further to its press releases dated July 30, 2026 and August 7, 2026, the board of directors of the company has approved the cancellation of an aggregate of 20,500,000 stock options previously granted under the company’s omnibus incentive plan to certain directors, officers, employees and consultants of the company. The Subject Options consisted of 18,650,000 options granted on July 30, 2026 (the New Management Grant); and 1,850,000 options granted on August 7, 2026. At the request of the TSX Venture Exchange, the company cancelled the New Management Grant and, by its own election, also cancelled the remaining Subject Options granted in August.

Following the cancellation of the Subject Options, the company will have 5,290,000 stock options and 2,666,000 restricted share units (RSUs) issued and outstanding under the plan, with 6,985,745 stock options and/or RSUs remaining available for issuance after taking into account prior stock option and RSU grants, cancellations and expiries since the Plan’s inception on June 1, 2022. The company is considering all available means to alternatively compensate the directors, officers and consultants who previously held the now cancelled Subject Options.

Hercules Metals is 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.