Extensive Mapping and Sampling Program On Hercules

TORONTO - Hercules Silver Corp. has commenced a 3D IP survey and completed an extensive bedrock mapping and sampling program on its 100%-owned Hercules Silver Project in Idaho ("Hercules", or the "Property"). The new mapping, completed by Specialized Geological Mapping Limited of the United Kingdom, has considerably improved the Company's understanding of the nature and controls of silver mineralization on the Property. The new work has a significant bearing on drill planning, which is now underway with the goal of growing the historical drill-defined mineralization.

Mapping has shown that the historically-termed "Hercules Rhyolite" is in fact a volcanic tuff of rhyolitic composition. Tuff is a type of rock composed of volcanic ash and fragments ejected from a vent during a volcanic eruption. The lower portion of a tuff unit is typically densely welded from the heat and compaction of overlying material. This densely welded material is easily fractured and can often result in the rock having strong permeability characteristics. This appears to be the case on the Hercules Property where the strongest alteration and silver-lead-zinc mineralization occur within the highly shattered base of the rhyolitic tuff, close to where it is in contact with underlying intermediate volcanics and conglomerates.

The shallow-dipping base of the rhyolitic tuff represents a large subsurface target which is largely untested by the shallow historical drilling. The majority of historical holes drilled outside of the main zones appear to have been terminated early, prior to reaching the shattered basal portion of the rhyolitic tuff. Only the holes drilled adjacent to outcropping mineralization at the Hercules Adit and Frogpond Zones have conclusively tested the basal portion in one or more drill holes.

Chris Paul, CEO and Director, said, "Improving our understanding of the deposit model at Hercules is an important step towards extending the historical mineralization. Mapping the controls on mineralization allows us to better plan and execute on future drill programs at Hercules. We anticipate that the results of our bedrock sampling program will also generate additional priority targets, including within the large and untested copper anomaly on the east side of the Property. The company will be able to adapt its future work programs in accordance with this new geophysical, geological, and geochemical data once results are received by Q1 2023."