Mr. Chris Paul reports

HERCULES METALS APPOINTS EXPERIENCED MINING EXECUTIVE MATTHIEU BOS AS CHAIRMAN OF THE BOARD

Hercules Metals Corp. has appointed Matthieu Bos as an independent director of the company and chairman of the board, effective immediately. Mr. Bos succeeds Peter Simeon, who will continue to serve as a director of the company.

Mr. Bos is a mining executive and capital markets professional with more than 15 years of experience spanning investment banking, project development and corporate leadership in the global mining sector. He brings deep expertise in large-scale copper development, financing and governance, with a career that bridges institutional capital markets and Tier 1 mine building.

Mr. Bos previously spent eight years with Ivanhoe Mines Ltd., where he served as executive vice-president, Africa. In this role, Mr. Bos was a key member of the team that advanced and delivered the world-class Kamoa-Kakula copper project in the Democratic Republic of the Congo, one of the world's largest and highest-grade copper operations. He was actively involved in securing $3-billion (U.S.) in equity and debt financings, including strategic investments by Zijin Mining and CITIC Metal. His other responsibilities included capital markets strategy, government engagement and corporate development, supporting the successful transition of Kamoa-Kakula from development into production.

Prior to Ivanhoe, Mr. Bos was a member of the metals and mining investment banking team at BMO Capital Markets in London, where he advised mining companies on equity and debt financings, mergers and acquisitions, and strategic transactions across global commodities markets. His time at BMO provided a strong foundation in institutional capital markets, valuation and governance, working closely with public company management teams and sophisticated resource investors.

Mr. Bos also previously served as a non-executive director of Elemental Altus Royalties Corp., providing board-level oversight of the diversified precious and base metals royalty portfolio, until stepping down in connection with board changes following a strategic investment by Tether Investments SA de CV, prior to the company's merger with EMX Royalty Corp.

Mr. Bos currently serves as president and chief executive officer of Falcon Energy Materials PLC, a critical minerals development company backed by La Mancha Resource Capital LLP. His combined experience as a senior mining executive, former investment banker and public company chairman positions him to provide strong governance, disciplined capital allocation and strategic guidance as Hercules continues to advance the Leviathan porphyry copper discovery and evaluate long-term growth opportunities.

Mr. Bos holds an MSc in resource engineering (first-class honours; metallurgy) and a BSc in applied Earth sciences (mining engineering) from Delft University of Technology in the Netherlands.

Chris Paul, chief executive officer and a director of the company, commented: "Matthieu's appointment as chairman significantly strengthens Hercules's board at a critical stage in the company's evolution. He brings a rare combination of senior mine-building experience, capital markets expertise and disciplined governance. His direct involvement in advancing large-scale copper projects and securing strategic financing adds meaningful value as we continue to advance Leviathan and position the company for long-term growth."

Mr. Bos added: "I am pleased to join Hercules as chairman at an important point in the company's development. "Hercules has assembled control over a significant new copper district in Idaho. Hercules's discovery has led to the largest North American staking rush in 30 years and has attracted the attention of every major mining company. The clear strategic vision to develop this newly discovered copper belt into a Tier 1 mining district, at a time when the United States is actively encouraging new copper mine developments, is supported by a strong technical team on the ground. I look forward to working closely with the board and management to support disciplined decision making and value creation for shareholders."

The company also announces that it has granted one million incentive stock options to Mr. Bos. The options will vest in four equal tranches every six months over a period of 24 months from the date of grant. The options are exercisable for a period of five years with an exercise price of 60 cents 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.

About Hercules Metals Corp.

Hercules Metals is an exploration company focused on developing America's newest porphyry copper district in Idaho.

The 100-per-cent-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.

With the potential for significant scale, the company's management and board of directors aims to deliver value to shareholders through proven discovery success.

We seek Safe Harbor.