Mr. Nick Rodway reports

HM EXPLORATION PROVIDES PROGRAM UPDATE FOR THE LEWIS PILLEY'S PROJECT

HM Exploration Corp. has provided an update on the recent exploration programs conducted at its Lewis Pilley's project in Newfoundland, Canada.

The DGI televiewer survey was completed in late July. HM Exploration has received the final structural data and is incorporating it into its geological model.

The Crone electromagnetic (EM) survey was completed in mid-September. Crone also conducted a pilot surface EM survey across known mineralization exposed in a trench at the Clifford Jones (Bull Road) zone to assess the technique's potential for identifying additional mineralization elsewhere on the project. The company is awaiting the final report.

For both surveys 11 of the 12 drill holes were surveyed; one hole could not be surveyed due to collapse.

HM Exploration is approved to conduct phase 2 drilling at the project, with drilling anticipated to begin in early to mid-November. The company will use its interpretation of the televiewer and EM data to plan the next phase of drilling.

"The televiewer data is helping us refine our understanding of the structures that control mineralization at Lewis Pilley's," said Nick Rodway, chief executive officer of HM Exploration. "Once we receive the final EM report, we will bring both data sets together to prioritize targets for our planned November drill program. The pilot surface survey will also help us assess whether EM can guide exploration beyond the areas we have already drilled."

Televiewer program (OTV/ATV)

Televiewers produce accurate and consistent oriented images of drill holes, allowing in situ structural measurements of both planar and linear geological features. Data can be visualized as 3-D virtual core or as 2-D unwrapped core, and structures can be measured very rapidly. Data are catalogued automatically and ready to import into 3-D modelling programs.

Time-domain electromagnetics (TDEM) is a proven geophysical technique widely used in mineral exploration to identify and characterize electrically conductive zones in the subsurface. In VMS (volcanogenic massive sulphide) exploration, TDEM is particularly effective because many volcanogenic massive sulphide deposits contain significant concentrations of conductive sulphide minerals, which can produce a measurable electromagnetic response. By transmitting an electromagnetic signal into the ground and measuring the resulting decay response, TDEM surveys, such as Crone's Pulse-EM system can help identify conductive anomalies that may represent massive sulphide mineralization, and can provide information on their size, geometry, depth and continuity. When integrated with geological mapping, geochemistry, drilling and other geophysical data, TDEM can be an effective tool for prioritizing exploration targets and refining drill programs, potentially improving the efficiency and success of mineral exploration.

About Lewis Pilley's project

The project is road accessible and situated approximately 25 kilometres east of the town of Springdale, approximately 55 km southeast of Firefly Metals' Green Bay project and approximately 150 km 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 Zn-Pb-Cu-Ag (zinc-lead-copper-silver) plus/minus Au (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 lenses.

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.

Board and audit committee update

The company announces that Alan Yi Hsiu Lu has resigned from the board of directors and as a member of the audit committee, effective Sept. 24, 2026. The board thanks Mr. Lu for his service and contributions to the company and wishes him well in his future endeavours.

The board has appointed Mr. Rodway, a director and the company's chief executive officer, to serve on the audit committee on an interim basis. The company intends to appoint an independent director to the audit committee within the period prescribed by applicable securities laws.

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 National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Rodway has supervised the preparation of, and verified and approved the technical content in this news release.

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 60.25 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 Cu and 3.05 m of 5.03 per cent Zn with 1.02 g/t Au (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, 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.