Large Untested Chargeability Anomaly At Depth Identified

TORONTO - Hercules Silver Corp. reported presence of a large untested chargeability anomaly beneath the Hercules Adit, Frogpond and Belmont Zones on the Hercules Property in western Idaho. The 3D inversion model was generated from several million 3D data points collected over the course of a 4-week induced polarization (IP") survey conducted by Dias Geophysical.

Chargeability anomalies in excess of >25ms are typical of disseminated sulfide mineralization. At Hercules, the anomaly strikes for 1.8 kilometers coincident with the untested base of the Hercules Rhyolite, where surface mapping has demonstrated the strongest silver mineralization to occur . The IP anomaly also remains open up-dip, towards a large copper geochemical anomaly within the Seven Devils Group at surface. The anomaly may therefore represent a large body of sulfides associated with a transition zone from disseminated silver to copper mineralization, that lies below the historical drilling. The main chargeability anomaly begins at a depth of approximately 150 meters, with smaller near-surface features associated with shallow, partially oxidized mineralization within the Hercules Adit and Frogpond Zones.

A limited number of historical drill holes within the Frogpond Zone reached depths of 150 meters and showed increasing sulfides and silver-lead-zinc grades in proximity to the large anomaly. Those holes terminated in Hercules Rhyolite, likely nearing the highly shattered and strongly mineralized basal portion of the Hercules Rhyolite that is associated with the high chargeability anomaly.

Chris Paul, CEO and Director, said, "We're very excited to see such an unexpectedly large and strong anomaly beneath the limit of historical drilling. These results help validate our model of applying modern exploration to a historical silver camp and demonstrate the excellent exploration potential that remains at Hercules. We look forward to stepping out our drilling in 2023 to test this large and high-priority new target."