Hercules Metals Corp.

Hercules Metals Corp. is a junior copper exploration company headquartered in Toronto, Canada, operating primarily in USA. The company's portfolio consists of 1 advanced exploration project. Key assets include Hercules. The organization operates as a junior exploration and development entity focused on advancing mineral prospects. Its business model centers on acquiring and re-evaluating assets with historical exploration data by applying modern, systematic techniques. This approach led to a significant discovery that prompted a strategic shift, reflected in a corporate name change to signify a more diversified portfolio. The company's operational activities are inherently high-risk and speculative, with success contingent upon the discovery of economically recoverable reserves and the ability to secure ongoing financing for exploration programs. The enterprise maintains 100% ownership of its primary asset, subject to a net smelter royalty, half of which is purchasable. This ownership structure provides maximum control over exploration strategy and potential development paths. The business relies on a phased exploration methodology, starting with verification of historical data and progressing to large-scale drilling campaigns designed to test new geological concepts and expand known mineralization. The company's value proposition for investors is tied to the potential for significant value creation through major discoveries, which requires substantial and sustained capital investment in exploration activities.

Strategic priorities are centered on systematically advancing a large-scale mineral discovery. The approach involves methodical step-out drilling campaigns designed to vector towards higher-grade zones and define the overall geometry and scale of the mineralized system. Exploration efforts are guided by advanced geophysical surveys, including 3D induced polarization, direct current resistivity, and drone magnetic geophysics, to identify and prioritize prospective targets. The organization leverages external expertise, commissioning independent studies from leading researchers to refine its geological models and generate new high-priority drill targets. A key component of the strategy is the continuous enhancement of the technical team, including an active search for a Vice President of Exploration to lead the next phase of growth. To ensure long-term operational continuity, the company is proactively advancing permitting, including securing approvals for expanded drill programs and initiating an Environmental Assessment process to facilitate future activities on federally administered lands. The entity also plans to launch a joint natural-source IP and magnetotelluric survey to further delineate deep targets ahead of future drill campaigns.

Executive leadership has been significantly strengthened through key appointments and strategic collaborations. The company appointed Charles Greig, a widely recognized geologist and recipient of the 2022 PDAC Bill Dennis Award for the Saddle North discovery, as a Strategic Technical Advisor to guide the 2024 exploration program. The technical team was further augmented with porphyry specialists and 3 geologists seconded from Barrick Gold Corporation, a major strategic partner. The board of directors consists of 4 members—Christopher Paul, Nicholas Tintor, Peter Simeon, and Kelly Malcolm—who were all re-elected at the June 17, 2024 Annual General and Special Meeting. Governance and compensation structures are detailed through related party disclosures, which outline consulting fee arrangements with entities controlled by the CEO and professional fees paid to a law firm where a director is a partner. The company also engages external firms for specialized functions, having retained Momentum IR Corp. for investor relations and corporate communications services. This demonstrates a management approach that combines internal leadership with specialized external expertise to advance its corporate and technical objectives.

The corporation executed a name change from Hercules Silver Corp. to Hercules Metals Corp. on June 28, 2024, to better reflect its diversified exploration focus. A key structural element is the strategic relationship with Barrick Gold Corporation, which became a significant shareholder through a non-brokered private placement in 2023 and provides technical support via seconded personnel. The company operates in the U.S. through its wholly-owned subsidiary, Anglo-Bomarc, U.S., Inc. This subsidiary is the legal entity that entered into a 20-year mineral lease agreement with the Idaho Department of Lands on March 1, 2025, significantly increasing the company's land position. Anglo-Bomarc also executed a lease option agreement on September 27, 2023, with a local prospector, granting the option to acquire a 100% interest in a separate mineral property. Furthermore, the organization holds a minority investment in Scout Discoveries Corp., a private mineral exploration company, which was valued based on a recent private placement financing. These arrangements illustrate a corporate structure that utilizes a U.S. subsidiary for operational agreements and strategic partnerships to gain access to capital, technical expertise, and prospective ground.