Mr. Gordon Lam reports

HERCULES CLOSES SECOND TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT

Hercules Resources Corp. has closed the second tranche of its previously announced oversubscribed non-brokered private placement of units at a price of seven cents per unit. The second and final tranche consisted of 2,142,858 units at seven cents per unit for gross proceeds of $150,000.

Each unit consisted of one common share of the company and one common share purchase warrant exercisable into one common share of the company at a price of 12 cents per warrant until Sept. 25, 2025.

All securities to be issued pursuant to the second tranche offering will be subject to a statutory hold period ending Jan. 26, 2024, under applicable Canadian securities law. The proceeds of the offering are planned to be used for exploration and general working capital purposes.

We seek Safe Harbor.