- First drill program undertaken in 34+ years at the Hercules Property
- 9 drill holes completed with a low-cost track-mounted RC drill rig
- High-priority areas tested within the Frogpond and Hercules Adit Zones for potential inclusion in future resource estimates
- Planning underway for an expanded Phase II drill program
- Final 3D IP inversions expected soon
Toronto, Ontario / December 5, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report that it has completed its first phase of capital-efficient drilling on the Hercules Property in western Idaho (“Hercules” or the “Property”) with a low-cost track-mounted RC drill rig (Photo 1). The Phase I drill program was designed to test and verify historical drilling assays as well as gain the geological and geotechnical information needed to support a Phase II drilling campaign in early spring of 2023. A total of 1,995 feet was completed in nine drill holes, with several holes bottoming in mineralization (Figures 1-6). Difficult ground conditions were encountered in highly shattered mineralized zones, leading to all holes ending short of their planned depths, with the exception of HER-22-03 and HER-22-04. The small track-mounted drill rig utilized was capital efficient for collecting quality samples in the near surface, but lacked the power and rod size needed for drilling deeper in difficult ground. The geological information gathered will help to determine the optimal drill rig size for Phase II, adequate for the challenging ground conditions encountered in mineralized zones.
Significant galena and tetrahedrite, the dominant silver bearing minerals, were observed in several drill holes, along with accessory pyrite. Intensity of galena/tetrahedrite is illustrated on cross-section figures 1-6 which demonstrate good consistency with historically modelled silver mineralization. Assay results from the 2022 drilling campaign are expected in early January and will contribute towards the verification of historical drilling data and potentially qualify the historical data for use in future resource estimates on the Property.
Photo 1: Low-Cost Track-Mounted RC Drill Rig at Hercules Adit Zone (HER-22-05) Management Commentary
Chris Paul, CEO and Director of the Company, noted: “We are pleased to have completed our first drill program at Hercules safely and efficiently. The shallow sulfide mineralization observed at the Hercules Adit and Frogpond Zones appears consistent with our internal modelling of historical silver grades. We look forward to receiving assay results, as they may allow us to confirm historical data and begin stepping out into undrilled portions of the Property in H1 2023.
Figure 1: 2022 Drill Hole Plan Map 
Table 1: 2022 Drill Hole Locations 2022 Exploration Results Pending
The Company is awaiting results from over 900 outcrop samples collected across the Property, which are currently undergoing geochemical and Terraspec analysis. The results will provide a map of silver, lead, zinc, and copper grades in bedrock, across large portions of the Property which have never been sampled. Terraspec indicates the proximity the various alteration minerals have to the core of the system, which in turn provides a vector towards higher-temperature and potentially higher-grade portions of the system.
Preliminary results from the 3D IP survey suggest strong chargeability anomalies below areas of known mineralization. Final 3D inversions are expected soon, which will be released with a description of the new targets generated.
Figure 2: Frogpond Cross Section Showing HER-22-01/02/09, Looking Southwest 
Figure 3: Frogpond Cross Section Along Traces of HER-22-03/04, Looking Southeast 
Figure 4: Hercules Adit Cross Section Showing HER-22-05/06, Looking Northwest 
Figure 5: Hercules Adit Cross Section Along Trace Of HER-22-07, Looking Southeast 
Figure 6: Hercules Adit Cross Section Along Trace Of HER-22-08, Looking Southwest Engagement of Investor Relations Firm
The Company is also pleased to announce that it has retained the services of Peak Investor Marketing Corp. (“Peak”) a full-service marketing and consulting services firm based in Vancouver, B.C. that is focused on the junior mining sector. Peak is an independent arms-length entity and will assist the Company with marketing strategy and planning, corporate communications, and public relations, with the goal of increasing market awareness for the Company. Under the terms of the agreement entered into between the Company and Peak (the “Agreement”), the Company will compensate Peak C$12,000 per month for an initial renewable 6-month term and will grant Peak 300,000 options at an exercise price of $0.09 in accordance with the policies of the TSX Venture Exchange (the “TSXV”). The Agreement may be terminated after the initial 6 months term upon thirty days’ notice. Peak is not related to the Company and has no interest, directly or indirectly, in the Company or its securities. The Agreement is subject to TSXV acceptance.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an independent “Qualified Person” for Hercules Silver within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release, is neither inaccurate nor misleading.
About Hercules Silver Corp.
Hercules Silver Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. Members of the board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
For further information please contact:
Chris Paul
CEO & Director
Telephone: +1 (604) 449-6819
Email: cpaul@herculessilver.com