Hercules Metals Corp. (TSX-V: BIG) (OTCQB: BADEF) is pleased to advise that it has closed its previously announced “bought deal” private placement. Pursuant to the Bought Deal, the Company issued 57,472,200 common shares of the Company at a price of $0.87 per Common Share, for aggregate gross proceeds of $50,000,814, including the full exercise of the underwriters’ option.

The Bought Deal was completed through a syndicate of underwriters co-led by Canaccord Genuity Corp. and BMO Capital Markets, and including Desjardins Securities, Raymond James, RBC Capital Markets, Scotiabank, Agentis Capital Markets, ATB Capital Markets, Haywood Securities, Paradigm Capital and SCP Resource Finance LP. In connection with the Bought Deal, the underwriters were paid a cash commission equal to 5.0% of the aggregate gross proceeds of the Bought Deal.

Additionally, Barrick Mining Corporation has delivered a notice indicating that it is exercising its participation right under the investor rights agreement between the Company and Barrick in full to maintain its 10.34% ownership of the Company. The Barrick private placement is expected to close on or about November 16, 2026, and is expected to provide additional gross proceeds to the Company of approximately $5,775,392, which together with the Bought Deal, will provide aggregate gross proceeds of $55,776,206.

The net proceeds of the Bought Deal will be used by the Company to advance exploration at the Hercules Project, as well as for working capital and general corporate purposes.

The Common Shares issued under the Bought Deal are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws and the Bought Deal remains subject to the final acceptance of the TSX Venture Exchange.

About Hercules Metals Corp.

Hercules Metals Corp. is an exploration company focused on developing America’s newest porphyry copper district, in Idaho, U.S.A.

The 100% owned Hercules Project, located northwest of Cambridge, Idaho, hosts the Leviathan porphyry copper system, one of the most important new discoveries in the U.S.A. to date. The Company is well positioned for growth through continued drilling, supported by a strategic investment from Barrick Mining Corporation.

With the potential for significant scale, the Company’s management and board of directors aim to deliver value to shareholders through proven discovery success.