Phase I Maiden Drill Program At Hercules Silver Property

TORONTO - Hercules Silver Corp. reported on the Phase I drill program at its Hercules Silver Property located in western Idaho. The Company's maiden drill program was designed to test and validate significant silver reported in historical drilling at the Property's Frogpond and Hercules Adit Zones, as well as copper, lead and zinc, which were historically only selectively assayed for. Subsurface drilling grades significantly exceed the grades sampled at surface within both zones, supporting the concept of potential supergene enrichment below surface. The Phase I program utilized a small, low-cost scout drill to gain important geological and analytical information, which will further guide an expanded Phase II 3,000-meter core drilling program. The preliminary drilling results are in line with historically reported grades and widths and provide the Company with confidence in the large-scale exploration potential at Hercules moving forward.

Chris Paul, CEO and Director, said, "The lengths and grades we are seeing near surface at Hercules are remarkable. Broad intervals of intensely altered and mineralized Hercules Rhyolite indicate the presence of a significant silver system, with surface data suggesting we have intersected the top of a large, concentrically zoned porphyry copper-epithermal system. The Phase I results so far are in line with historical drilling and indicate the potential to incorporate large volumes of previous drilling data into future resource calculations. Validating such data, which has a substantial replacement cost, could potentially add significant value to the project. The preliminary results so far suggest good continuity within mineralized zones which remain open along strike and at depth. We look forward to initiating our maiden core drilling program later this spring, to further delineate these zones and test our conceptual model of a zoned porphyry copper-epithermal system at Hercules."

Drill Hole HER-22-01 intersected 38 meters grading 353 g/t Ag, 0.64% Pb, 2.28% Zn and 0.16% Cu (487 g/t AgEq), beginning at 27 meters depth. The hole was stopped short of its target depth ("TD") due to the limited depth capacity of the scout drill utilized. The hole ended in Hercules Rhyolite and confirms the presence of a high-grade shoot, now termed the P-19 Shoot after the historical Anglo-Bomarc hole that discovered it. Data suggests the potential for the P-19 Shoot to extend at depth to the east, where it appears to have also been intersected near the bottom of historical hole 83-5. Five of the nine holes drilled in Phase I were stopped short of their TD due to the shallow depth capacity of the drill. Four of these holes partially tested their targets, while HER-22-06 was stopped short of reaching its target zone.