Hercules Silver Corp. reported on progress from its Phase II drill program at the Hercules Property in western Idaho ("Hercules" or the "Property"). Drill holes HER-23-01 to HER-23-07 have been completed within the Frogpond Zone, intersecting varying oxidized and dark grey to black silver-bearing sulfide mineralization within the Frogpond Zone show a northwest-southeast trend, as determined from measurements of oriented drill core.

Further drilling along this trend is planned, following the receipt of assays from current drill holes. Drill hole HER-23-05 intersected strong silver-bearing mineralization in the near surface and was continued to depth to test the western limit of a large chargeability anomaly. The anomaly was uncovered by a 3D IP survey carried out over the silver-bearing Hercules Rhyolite host unit at surface on the west side of the Property.

The survey however returned a large chargeability anomaly below the limit of historical drilling and the interpreted base of the Hercules Rhyolite. The cause of such a large anomaly at depth was unknown at the time, however HER-23-05 intersecting phyllic alteration, veining, and mineralization, consistent with the outer margins of a porphyry copper system, beginning at the top of the chargeability anomaly. It was therefore elected to continue drilling beyond HER-23-05's planned depth.

Phyllic alteration is dominated by pyrite and lesser chalcopyrite, but typically occurs around a higher-grade core of potassic alteration with stronger chalcopyrite mineralization. The chargeability anomaly increases in thickness towards the east where it currently remains open toward stronger copper mineralization at surface. A second drill rig has been added and a second deep drill hole is currently in progress, collared 185 meters to the northeast of HER-23-05.

The chargeability anomaly remains open to the east and the Company is currently planning a potential expansion of the survey up to 2 kilometers east.