Sampling Program Identifies Presence Of Large Mineralized System At Hercules Property

TORONTO - Hercules Silver Corp. reported widespread silver, lead, zinc and copper values from its 2022 rock chip sampling program on the Hercules Property located in western Idaho. The Company collected over 800 rock chip samples to identify the source of previously announced soil anomalies on the Property. The new results outlined the presence of a large mineralized system, consisting of multiple outcropping zones of silver-lead-zinc, spanning approximately 3.5 kilometers of exposed Hercules Rhyolite, as well as two distinct copper targets, the Metheny and Big Cut, hosted within Triassic aged Seven Devils Group rocks.

A plan presenting the rock chip grades in silver equivalent (AgEq2, g/t) and a silver equivalent calculation was used for compilation purposes only, to compare the combined metal value from samples taken across the Property. Investors are cautioned that the silver contribution varies significantly from sample to sample, particularly at the Metheny and Big Cut Zones, which are copper dominant targets. It should also be noted that estimated recoveries of individual metals were not applied in the AgEq calculation.

Sampling was restricted to limited exposures of outcropping bedrock and the majority of samples that were collected from the Hercules Rhyolite, where exposed, are well mineralized and show strong alteration. A series of zones mineralized with silver-lead-zinc are exposed along an approximate 3.5-kilometer strike length of rhyolite, and are open under Tertiary basalt cover to the south. An IP geophysical survey conducted in late summer of 2022 suggests that these zones may connect at depth.

2 Silver equivalent (AgEq) grades are calculated using metal prices of: silver US$24/oz., copper US$4.15/lb, lead US$1.00/lb and zinc US$1.50/lb. Silver equivalent grade is calculated as AgEq (g/t) = Ag (g/t) + (Cu (%) * 118.558) + (Pb (%) * 28.568) + (Zn (%) * 42.852).  Metal recoveries have not been applied in the silver equivalent calculation.

Chris Paul, CEO and Director, said, "We're excited by the consistency of mineralization and alteration we are seeing over such a large area at Hercules. These results demonstrate widespread geochemical anomalies, and further strengthen our targeting effort at Hercules. The strong IP chargeability values released last month indicate that these zones may connect to a larger body of sulfide mineralization at depth. We acquired the project in 2021 with a view that shallow historical drilling had only just scratched the surface at Hercules. The historical drilling had focused on Frogpond and Hercules Adit, which together represent less than 5% of the mineralized footprint, and it appears now that a large amount of blue sky exists outside of that."