Mr. Chris Paul reports

HERCULES SILVER APPOINTS MR. CHRISTOPHER LONGTON AS VP EXPLORATION

Hercules Silver Corp. has appointed Christopher Longton, CPG, as vice-president of exploration of the company. Mr. Longton is an accomplished geologist with over 15 years experience from greenfields exploration to production on precious and base metals deposits throughout North America and Australia. He has extensive experience managing large-scale projects, most recently as the Senior Exploration Manager for Integra Resources' Delamar project in southern Idaho. Prior to Delamar, Chris provided senior geological support on several advanced development and production scale projects for various companies, most notably New Gold Inc. and Equinox Gold Corp. Mr. Longton will now directly manage the advancement of the Company's Hercules Silver Project in Idaho, USA.

Management Commentary

Mr. Chris Paul, CEO and Director of the Company, commented: "We are very pleased to have Chris Longton join the Hercules Silver team. His extensive exploration management experience will be a great asset to the Company. We look forward to leveraging Chris' experience in targeting a large silver resource on the Hercules project."

Mr. Christopher Longton commented: "I am thrilled to be a part of the Hercules exploration team and to have the opportunity to utilize my experience in unlocking the full potential of the Hercules Silver Project. With our shared commitment to quality exploration work, I am confident that we can create significant value for our shareholders and contribute to the success of the company."

Mr. Longton currently holds a bachelor's degree in Geology from Illinois State University and is a Certified Professional Geologist ("CPG") and a Qualified Person ("QP") as defined by National Instrument 43-101.

The Company has granted 1,250,000 incentive stock options (the "Options") to Mr. Longton, with an effective date of May 22, 2023. The Options will vest in four equal tranches over 24 months from the grant date of May 22, 2023. The Options are exercisable for a period of 5 years have an exercise price of $0.17 per common share. The Options were granted pursuant to the Company's omnibus incentive plan approved by shareholders of the company on July 15, 2022.

The Company also granted an additional 1,500,000 Options to certain officers and advisors, with an effective date of May 22, 2023, under the same exercise price and terms.

The Company further announces that Mr. Keith Li, the Company's Chief Financial Officer has also been appointed as the Company's Corporate Secretary, effective immediately. Concurrent with Mr. Li's appointment, Mr. Darren Collins has resigned from his role as Corporate Secretary of the Company. Mr. Collins will remain as a director of the Company.

About Hercules Silver Corp.

Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho.

The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The Company is well positioned for growth through the drill bit in 2023, having completed extensive surface exploration in 2022 consisting of soil & rock sampling, geological mapping, IP geophysics, and a 9-hole drill program.

The Company's management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide.

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