Mr. Michael Smith reports

HERCULES RESOURCES ENGAGES CANADA-WIDE PUBLISHING CAMPAIGN WITH CORPCOMM SERVICES

Hercules Resources Corp. has engaged Canada-wide publishing and distribution of communications consisting of publicly available corporate information on the company to raise public awareness throughout 2024 across the country, with the campaign to be managed by CorpComm Services Ltd.

"We have a tremendous opportunity ahead and we feel it is important to ensure the broader market is aware of our fast-growing story in 2024, particularly as we finalize significant transactions, including majority interests within one of the most productive mining districts in Ecuador," commented Michael Smith, chief executive officer of Hercules Resources.

Upcoming milestones for Hercules Resources

Several key developments on the horizon and the expected increase of operational tempo upcoming has encouraged Hercules Resources to carefully consider the benefits and conclude the necessity of this public awareness campaign for the continued success of the business benefit of all present and future shareholders.

These future milestones include, but are not limited to, the following:

• 204-hectare P3 acquisition: The pending acquisition of the majority interest in the 204-hectare P3 project within one of the most productive mining districts in Ecuador. For more information, please refer to the news release dated Oct. 4, 2023.
• National Instrument 43-101-compliant report: Hercules plans to begin work on an NI 43-101-compliant report upon closing of the P3 acquisition, including a focus on the property's placer and hard rock mineralization. For more information, please refer to the news release dated Feb. 13, 2024.
• $5-million equity drawdown facility: The company is working diligently with Crescita Capital to complete the definitive agreements. For more information, please refer to the news release dated Feb. 13, 2024.
• 164-hectare VMP acquisition: The pending acquisition of the minority interest in the 164-hectare VMP project within Ecuador. For more information, please refer to news release dated Feb. 26, 2024.

Terms of the Canada-wide campaign

Under the terms of the contract, Hercules Resources will provide updates on publicly available corporate information to CorpComm Canada. CorpComm Canada will then prepare preliminary drafts of communications, which will be submitted for review and sign-off approval by the company. Thereafter, CorpComm Canada will distribute communications which have been approved by the company exclusively through newspaper(s), magazine(s), and business or financial publication(s) of general and regular circulation, for the sole purpose of raising public awareness of Hercules Resources.

Exclusive reporting period

The contract provides for exclusivity period and first rights of refusal on additional services for the duration of the campaign. Any additional providers must be approved by CorpComm Canada.

"We're excited to work with Hercules, as we both place the utmost value on pro-active compliance, and align with our express priority of going above and beyond to bring forth the spirit of the law to all our operations," stated Brent Couvrette, director of CorpComm Canada. "It's this kind of focus on the fundamentals of what makes a company -- and the market in general -- so great, that will help breathe new life into our shared Canadian ecosystem."

Additional contract terms

Under the terms of the contract, Hercules Resources shall provide to CorpComm Canada an initial compensation of $50,000 toward the preparation of preliminary drafts of communications to be submitted to the company for review and approval, and, if approved, the distribution of such communications exclusively through the publications. Additionally, the contract necessitates that all disclaimers, compensation disclosures, forewarnings, cautionary notes or other similar notices, as required by laws and regulations applicable to communications by the company, shall be included in such communications with appropriate prominence. The contract shall automatically renew for subsequent monthly periods, each of which shall have a maximum budget limit of $400,000 per month unless further agreed by the parties. Further, in an effort to maintain standards of reasonable expenditure across clients of CorpComm Canada, the contract requires Hercules Resources to ensure that the total amortized cost in any monthly period shall not exceed 20 per cent of the company's working capital at the beginning of that period, as calculated via a proportional budget analysis.

About Hercules Resources Corp.

Hercules Resources is a global-scale Canadian gold exploration company engaged in the acquisition, exploration and development of world-class projects located in highly prospective territories within mining-friendly nations, including Ecuador and Canada. Hercules holds an option to earn a 100-per-cent interest in the 5,476-hectare MP copper project located 30 kilometres southeast of Prince George, B.C., and in the north-central portion of the Quesnel terrane known for hosting many copper-gold porphyry mines, deposits and exploration targets. The company has recently entered into binding letters of intent to acquire a 51-per-cent interest in the P3 Los Tres mineral concession, located in the Ponce Enriquez mining district in Ecuador, and a 20-per-cent interest in the VMP project, located in the Alluriquin parish of the Santo Domingo canton in Ecuador, with definitive agreements actively moving toward finalization in both transactions. Hercules Resources has further entered into a letter of intent under which it would receive a $5-million financing commitment, based on an equity drawdown facility, valid for three years following the execution of a definitive agreement, of which the use of proceeds shall include, without limitation, the further exploration and sampling of P3 and VMP, including updated NI 43-101-compliant technical reports, and new strategic additions to its portfolio of mineral exploration properties around the globe.

We seek Safe Harbor.