Hercules Silver Announces Name Change to Hercules Metals

Toronto, Ontario–(Newsfile Corp. – June 25, 2024) – Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7) (“Hercules Silver” or the “Company“) is pleased to announce that further to its press release on June 17, 2024, effective June 28, 2024, the Corporation has changed its name from Hercules Silver Corp. to “Hercules Metals Corp.” (the “Name Change“). The stock symbol on the TSX Venture Exchange (the “TSXV“) will not be changed and will remain trading under “BIG”. Effective market open on June 28, 2024, the Company will begin trading under its new name, reflecting its diversified metals portfolio, including the newly discovered porphyry copper target at the Hercules Project in Idaho.

Also, at the annual and special meeting of shareholders held on June 17, 2024, the Corporation’s shareholders also confirmed and approved an amendment to By-Law No. 1 of the Corporation as approved by the board of directors of the Corporation and as set forth in the management information circular of the Corporation dated May 6, 2024 to, among other things, remove reference to a 6 months provision in section 9.01 of the By-Law No. 1. The full text of the amendment of By-Law No. 1 will be available on SEDAR+ under Hercules’ profile at www.sedarplus.ca. The TSXV has also conditionally approved the amendment of By-Law No. 1.

No action will be required by existing shareholders with respect to the Name Change. Certificates representing common shares of the Company will not be affected by the Name Change and will not need to be exchanged. The Company encourages any shareholder with any questions or concerns to contact the Company or to discuss any of the foregoing with their broker or agent.

The Company also announces that it has granted 200,000 incentive stock options (the “Options“) to an employee, with an effective date of June 24, 2024. The Options will vest in four equal tranches over 24 months from the grant date of June 24, 2024. The Options are exercisable for a period of 5 years have an exercise price of $0.60 per common share. The Options were granted pursuant to the Company’s omnibus incentive plan approved by shareholders.

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