Mr. Nicholas Rodway reports

HM EXPLORATION DISCOVERS NEW BLIND MASSIVE SULPHIDE LENS AT LEWIS PILLEY'S PROJECT

HM Exploration Corp. has completed an additional three holes as part of the phase 1 drilling program at the company's Lewis Pilley's project, located in Newfoundland, Canada.

The three holes in this press release represent an additional 544.27 metres for a total drilled metreage of 1,632.27 metres of a planned minimum 2,500 metres of diamond drilling.

Highlights:

• Holes 6, 7 and 8 have successfully intersected massive sulphide including a new blind discovery of massive sulphide mineralization at a drill core depth of approximately 155 metres.
• Multiple mineralized intervals encountered displaying varying types of mineralization ranging from disseminated/semi-massive/massive sulphide, including:
  • PI-26-006:
    • From 11.43 to 13.62 metres downhole; 2.19 metres drilled length;
  • PI-26-007:
    • From 7.00 to 28.00 metres downhole; 21.00 metres drilled length;
    • From 176.85 to 179.00 metred downhole; 2.15 metres drilled length;
  • PI-26-008:
    • From 15.00 to 28.00 metres downhole; 13.00 metres drilled length;
    • From 163.45 to 170.22 metres downhole; 6.77 metres drilled length.
• The identification of a second sulphide lens below the previously recognized upper debris-flow horizon supports the interpretation of a vertically extensive VMS (volcanogenic massive sulphide) system and provides a new exploration target for follow-up drilling.
• Assays are pending; HM looks forward to providing updates as drilling continues.

"While we were expecting to see significant mineralization below the exposed massive sulphide horizon at the Clifford Jones trench, the intersection of the lower lens came as a welcomed new exciting discovery," said Nick Ryan, chief geologist with HM Exploration. "The discovery of a second mineralized lens demonstrates that the system is more extensive than previously recognized and supports the potential for multiple stacked sulphide horizons. We look forward to receiving laboratory assays back and delineating the extents of this new discovery with subsequent drilling."

Drilling was focused on evaluating the continuity of the mineralized system below known surface showings and along strike of Clifford Jones zone to improve the company's understanding of the geological controls on mineralization. Visual observations from drilled holes indicate that the upper targeted copper-bearing debris flow was successfully intersected, with zones of alteration and massive to semi-massive sulphide mineralization observed in the drill core.

Drill holes 7 and 8 have successfully intersected a new lower mineralized sulphide lens that was previously undiscovered. The lower lens appears more massive indicating that the geometry of this lens may assist with vectoring toward the source vent(s). Core samples have been submitted to the laboratory for analysis. Assay results will be released once they have been returned to the company.

All three holes from this release intersected a wide range of massive, semi-massive and disseminated sulphide mineralization over the following drill core lengths:

• PI-26-006:
  • From 11.43 to 13.62 metres downhole; 2.19 metres drilled length;
• PI-26-007:
  • From 7.00 to 28.00 metres downhole; 21.00 metres drilled length;
  • From 155.31 to 155.97 metres downhole; 0.66 metre drilled length;
  • From 176.85 to 179.00 metres downhole; 2.15 metres drilled length;
• PI-26-008:
  • From 7.55 to 12.52 metres downhole; 4.97 metres drilled length;
  • From 15.00 to 28.00 metres downhole; 13.00 metres drilled length;
  • From 163.45 to 170.22 metres downhole; 6.77 metres drilled length.

Mineralization can be described as clast-dominated debris zones consisting of subangular to angular fragments of massive sulphide (approximately 85 per cent of intercept) composed of chalcopyrite plus pyrite plus or minus sphalerite plus or minus galena suspended in interstitial fine-grained disseminated sulphides (pyrite plus chalcopyrite plus or minus sphalerite plus or minus galena) and milled felsic plus or minus mafic rock. Matrix-dominated debris flow composed of fragments of subrounded to angular clasts of massive sulphide (pyrite plus chalcopyrite plus or minus sphalerite plus or minus galena) and felsic plus or minus mafic lithic fragments suspended in a matrix of fine-grained sulphide (pyrite plus chalcopyrite plus or minus sphalerite plus or minus galena) and milled felsic plus or minus mafic rock. More detailed classifications for individual intercepts are referenced in Table 2 below.

Note: The company cautions that the presence of visible sulphides and visual estimates of mineral abundance are not indicative of grade and should not be considered a substitute for laboratory analysis. Assay results are pending.

Geology and mineralization

The project is located within the Notre Dame subzone of the Dunnage tectonostratigraphic zone. Of note, most of the project is underlain by Ordovician submarine volcanic rocks of the Roberts Arm group, which is regionally identified as part of a mature arc sequence referred to as the Buchans-Roberts Arm belt, which also hosts the historic Buchans mine (after Dunning et al., 1987). Mineralization occurs as lower-grade (Spencer's Dock), medium-grade (Old Mines) and high-grade (3B zone/Clifford Jones) deposits that are of both subseafloor replacement and exhalative varieties. The deposits are often flanked by extensive chlorite, sericite, silica, potassium-feldspar and epidote alteration often observed in bimodal-felsic VMS systems. The Spencer's Dock area displays sericite/silica alteration that generally increases in intensity near mineralized zones, while the 3B/Old Mine areas display sericite/silica alteration that is abundant but less widespread and is more intense when proximal to mineralized zones (after Kerr, 1996).

VMS deposits are a globally significant source of copper, zinc, lead, silver and gold. The project's geology shares key characteristics with known volcanogenic massive sulphide (VMS) districts in Newfoundland, including the past-producing Buchans, Ming and Rambler mines, supporting the exploration potential of the project.

About Lewis Pilley's project

The project is road accessible and situated approximately 25 kilometres east of the town of Springdale, approximately 55 kilometres southeast of Firefly Metals' Green Bay project and approximately 150 kilometres from the Pine Cove mill and port by way of major roads.

The project has a long history of mining and exploration dating back to the late 1800s when the Pilley's Island Pyrite Company Ltd. produced approximately 450,000 tonnes of massive pyritic ore from the Pilley's Island mine/old mines (after Kerr, 1996).

The project hosts a cluster of VMS systems and prospects with demonstrated high-grade zinc-lead-copper-silver-plus-or-minus-gold intersections. Mineralization is typical bimodal-felsic VMS, with both massive sulphide and sulphide-clast breccias (Thurlow, 1996). The geological setting is directly analogous to the Buchans camp (Thurlow, 1996), and the presence of sulphide-clast breccias is a strong vector toward proximal massive sulphide lens.

Most of the historic showings that fall within the extents of the project have not seen systematic exploration. Many of the historic drill holes were shallow and drilled in a vertical orientation limiting the geological knowledge of the extents of the underlying lithology and mineralization. Work is being planned to validate historic assay results as well as collect new data from the 3B zone, Clifford Jones (Bull Road) extension, Bouzanne shaft, Henderson, Mansfield and Pilley's Cove showings.

Sampling, preparation and quality assurance/quality control

Drill collar locations were determined from hand-held GPS (Global Positioning System) (NAD83 zone 21N) and the drill rig was aligned using a Reflex TN-14 gyrocompass alignment tool. All samples are given a unique sample ID and number and shipped directly to Eastern Analytical Ltd. (403 Little Bay Rd., Springdale, Nfld.), a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of the company. Analytical methods include ICP-OES (34 elements) with four-acid digestion, gold fire assay (30 grams) with AA finish and ore-grade assay (multiacid digestion) with AA finish. The company inserts standard, blank and duplicate samples as part of its standard QA/QC procedures.

National Instrument 43-101 disclosure

Nicholas Rodway, PGeo (licence No. 46541) (permit to practice No. 1000359), is chief executive officer and director of the company and a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects. Mr. Rodway has supervised the preparation, verified and approved the technical content in this news release. Verification included review of drill logs, sample tags, chain-of-custody procedures and analytical protocols. No limitations were noted during the verification process.

About HM Exploration Corp.

The company is currently advancing its Lewis Pilley's project, located in Newfoundland. The project encompasses a land area of approximately 25 square kilometres and hosts a cluster of volcanogenic massive sulphide (VMS) systems and the historic Pilley's Island mine (approximately 450,000 tonnes of ore produced in the late 1800s). Historic drilling at the 3B zone returned significant intersections, including 16.77 metres of 1.84 per cent copper and 3.05 metres of 5.03 per cent zinc with 1.02 grams per tonne gold (Au Pell, 1989). The geological setting is directly analogous to the prolific Buchans camp, with multiple underexplored showings and strong potential for new discoveries.

In addition, the company holds 100-per-cent interest in the Devil's Den project, an exploration-stage project consisting of two contiguous mineral licences encompassing approximately 3,200 hectares located west of Port Alberni, Vancouver Island, British Columbia. Exploration work completed in 2022 established four geochemical grids to identify possible buried mineralization, uncovering multiple high-grade occurrences, including copper values up to 4.68 per cent at surface (Devil's Den NI 43-101 report, November, 2022). Phase 1 exploration completed in 2025 included high-resolution UAV (unmanned aerial vehicle) magnetic surveying and a lithogeochemical program, which identified new structural targets and zones of elevated copper, zinc and nickel geochemistry. The project hosts multiple historical adits with high-grade surface occurrences that remain undrilled. HM believes a lack of adequate modern exploration has left significant discovery potential.

HM Exploration is committed to applying modern exploration techniques across its projects to unlock value in historically underexplored Canadian mining districts.

We seek Safe Harbor.