Mr. George Ogilvie reports

HERCULES METALS ANNOUNCES $30 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF COMMON SHARES

Hercules Metals Corp. has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets, as joint bookrunners, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought-deal private placement basis, 34.5 million common shares of the company at a price of 87 cents per common share for gross proceeds of $30,015,000.

The company has also granted the underwriters an option to purchase up to an additional 5.2 million common shares at the offering price for additional gross proceeds of up to $4,524,000, exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the offering.

The net proceeds of the offering will be used to advance the Hercules project, as well as for working capital and general corporate purposes.

The common shares will be offered by way of private placement pursuant to applicable exemptions from prospectus requirements in each of the provinces of Canada, other than Quebec, and in such other jurisdictions as may be mutually agreed between the company and the underwriters. It is anticipated that closing of the offering will occur on or about Nov. 12, 2026, or such other date or dates as the company and the underwriters may agree. The offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the conditional approval of the TSX Venture Exchange. The securities to be issued under the offering will be subject to a hold period expiring four months and one day from the applicable closing date in accordance with applicable Canadian securities laws.

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 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 aim to deliver value to shareholders through proven discovery success.

We seek Safe Harbor.