Hercules Metals Corp · TSXV:BIG
Hercules Metals — Investor Presentation (June 2025)
52 slides from Hercules Metals's investor presentation, June 2025
Slide 1: Advancing America's Newest Porphyry Copper Belt
Advancing America’s Newest Porphyry Copper Belt JUNE TSX-V: BIG | OTCQB: BADEF | FRA: C0X 2025
Slide 2: Forward-Looking Information Cautionary Notes
Forward-Looking Information Cautionary Notes This presentation contains certain information that may be deemed "forward-looking information" with respect to Qualified Person: Under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), Dillon Hercules Metals Corp. (
Slide 3: About Hercules Metals
About Hercules Metals Located in Idaho with Surface Mining Rights 100% owned project with no permitting challenges. Rich silver exploration history with small-scale production, followed by extensive shallow drilling from 1965-1984. Porphyry copper discovery in 2023 intersected 185m of 0.84% Cu, 111
Slide 4: Snapshot
Snapshot Share Performance 12,000,000 Capital Structure $1.60 10,000,000 $1.20 8,000,000 Issued and Outstanding Shares 261.6 M $0.80 6,000,000 4,000,000 Options 3.7 M $0.40 2,000,000 Warrants2 7.3 M $- - RSUs 2.8 M Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 F
Slide 5: Our Team
Our Team Track record of multiple high-impact discoveries CEO & DIRECTOR STRATEGIC TECHNICAL ADVISOR TECHNICAL ADVISOR VP, EXPLORATION Chris Paul Charlie Greig Dr Tom Henricksen Dillon Hume Recognized for discovery of the Saddle North porphyry for GT Gold Corp, acquired by Newmont Corporation in 202
Slide 6: Idaho Advantage
Idaho Advantage History of Mining Low Geopolitical Risk Infrastructure Support Low Energy Cost 3 hydroelectric dams 10.35¢ / kWh*, the lowest electrical cost in the country. directly across the Property. *Source: How Much Does Electricity Cost in 2023? | EnergySage Mining played a role in Idaho befo
Slide 7: Responsible Exploration
Responsible Exploration Hercules Metals seeks to build a positive legacy by delivering value to the community both during and after its operating life in Idaho and by building close ties with the community, government and all its stakeholders. Engagement Hercules hosts town hall meetings to educate
Slide 8: Hercules Property
Hercules Property Positioned to Operate LOCATION Cambridge, Idaho • 100% owned through US subsidiary OWNERSHIP • NSR buyable down to 1% for $1M CAD MINERAL • 24,276 acres of private, state and federal RIGHTS mineral rights • ~1,800 acres with surface mining rights SURFACE (black outline). MINING • ~
Slide 9: Hercules District
Hercules District 2023-2024 Staking Rush • America’s newest porphyry copper district – Western North America’s prolific porphyry copper belt theoretically trends directly through western Idaho. Hercules generated evidence supporting this theory which it drill tested in 2023 resulting in the discover
Slide 10: Hercules History
Hercules History NOW THEN 2021: Hercules Metals Acquires Project 1880-1920: Historical mining 2022 • Compiled and digitized all historical data • Historical production at the Belmont and other old mines • Generated new 3D model • Soil sampling LATE 1970s - EARLY 1980s – 308 drill holes • Geological
Slide 11: Applying Modern Geophysics
Applying Modern Geophysics in a Historical Epithermal Silver Camp Generates Large Porphyry Copper Discovery 2022 Reconnaissance IP survey reveals initial “Battleship” anomaly below 308 historical drill holes from 1965-1988 • Historical drilling (308 holes) focused on a large epithermal silver system
Slide 12: Leviathan Discovery
Leviathan Discovery Porphyry copper with high-grade secondary enrichment 1.5km of >4km tested to date – True limits unknown TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 13: Leviathan Discovery
HER-23-05 cross-section with interpreted geology, Leviathan Discovery grade bars for copper (orange), molybdenum (blue), and silver (grey) A rare new porphyry copper discovery in the U.S. • • • • 13 TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 14: Growing System
Growing System Deep Drilling Leads to Development of First 3D Model • • • • • 14 TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 15: High-Confidence Block Model
High-Confidence Block Model Correlates with Chargeability, Magnetics and Surface Geochemistry • Block model coincident with a 4km • Coincident also with a NE-SW • Parallel northeast-southwest long IP chargeability anomaly, of trending magnetic anomaly, trending soil and rock chip which only ~1.5 km
Slide 16: High-Grade Secondary Enrichment
High-Grade Secondary Enrichment Rare enrichment event provides significant upgrade • • • • • 1. The Resolution Copper project in Arizona, owned by BHP (45%) and Rio Tinto (55%), which Hercules has no right to explore or mine. Readers are cautioned that mineral deposits at the Resolution Copper proje
Slide 17: Shallow Near-Surface Open Pit Target
• High-grade enrichment zone closest to Shallow Near-Surface surface in the east, representing potential open pit target. Open Pit Target • Hanging wall to Leviathan Porphyry • High-grade rock samples at surface to the northeast may represent potential daylighting of hanging wall enrichment zone. HE
Slide 18: Northern Extension – Grade Creek Zone
• Northward tilting may have rotated shallow high-grade Northern Extension – enrichment into the Grade Creek Zone. Grade Creek Zone • • Increasingly anomalous chargeability supports this trend. HER-24-12 – Only hole with grade increasing at depth – potential Increasing High-grade Hypogene confirmati
Slide 19: Southern Extension – Southern Flats
Phase III: Exploration Southern Extension – Southern Flats Host Rock Favourability Increases to the South • 2024 mapping reveals increasingly favourable host rocks to the south, providing an additional high-grade target. • Although evidence shows higher potential for hypogene enrichment toward the n
Slide 20: Targeting: Additional Porphyry Centers
Targeting Additional Porphyry Centers TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 21: Eastern Block
Eastern Block Scandium/Aluminum – Proxy for Original Iron Level of Host Rock Iron-rich Volcanics – Better Host Rock for High Grade Copper • A Scandium/Aluminum plot provides a proxy for how much original (silicate) iron was in the host rock, before alteration by the porphyry fluids. Porphyry fluids
Slide 22: Eastern Block
Acidic porphyry fluids react strongly with limestone, often producing the highest possible Eastern Block grades in porphyry systems. The closer to the intrusion, the more intense the limestone is replaced by chalcopyrite (copper) mineralization. Limestone – Best Host Rock for Highest Grade Copper Bi
Slide 23: Eastern Block Alteration Zonation
• Alteration patterns mapped at Hercules consistent with the classic porphyry model, but tilted to the northwest. Eastern Block • Potential for potassic center below propylitic alteration Alteration Zonation in the Eastern Block and Southern Flats zones. • Intersection with iron and limestone rich h
Slide 24: Western Deeps
Western Deeps Deep Conceptual Target Strongest chargeability anomaly situated at >600m depth on the west side of the BNA Fault. The BNA Fault is interpreted to have down dropped the geology on the west side, upwards of several hundred meters, potentially preserving shallow hypogene enrichment under
Slide 25: 2025 Drilling Campaign
2025 Drilling Campaign 12,000m program 1. Designed to validate, refine, and grow the new 3D geological/block model in a phased approach 2. Initial holes will cross the entire Leviathan system, from pyrite halo, through the Cu-Mo zone, into the central porphyry - if validated, drilling will expand th
Slide 26: 2025 Drilling Validating 3D Model
2025 Drilling Validating 3D Model More rigs added to accelerate the program 1. Two drill holes completed (25-02 and 25-03), five in progress (25-04, 25-05, 25-06, 25-07, and 25-08). 3,000 m drilled (June 2025). o 25-02 completed 200 m step-out to the northeast of 24-12, while 25-03 tested a gap in t
Slide 27: A Generational Opportunity in the Making
A Generational Opportunity in the Making Situated on mining- Upcoming Catalysts friendly state lands with Ample low-cost clean surface mining rights energy from on-site over core land position powerlines 2025 drilling to expand the system and test for additional porphyry centers Enhanced, property w
Slide 28: Head Office
Head Office Herculesmetals.com Suite 1600 100 King St. W TSX-V: BIG | OTCQB: BADEF | FRA: C0X 1 First Canadian Place Toronto, Ontario M5X 1G5
Slide 29: Appendix
Appendix TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 30: Hercules Soil Sampling – Copper
Hercules 30 SOIL SAMPLING - Copper • Multi kilometer copper-in-soil anomaly – up to 3,175 ppm Cu, 30 ppm Mo and 663 ppb Au in soil revealed in 2022 • Associated with altered volcanics and limestone host rocks at surface • The high-grade Big Cut Skarn grades up to 21% copper, 4.5 g/t gold and 1,085 g
Slide 31: Mineral Project
Mineral Project LOCATION Washington County, Idaho SIZE 2,843 acres <2.5 hours from Boise ACCESS 14 miles south-southwest of Hercules Property, along trend Lease to own 100% with no royalty OWNERSHIP obligation Copper-gold porphyry overlain by GEOLOGY rhyolite-hosted silver – an identical geological
Slide 32: Porphyry Copper Transactions in the U.S. – Since 2010
Porphyry Copper Transactions in the U.S. – Since 2010 Very few M&A opportunities in tier 1 jurisdictions involving porphyry copper assets, due to significant lack of new discoveries. The select few that have transacted since 2010 are shown below. Robinson – US$1.7B Morenci – US$1.0B for 13% stake ‐
Slide 33: Large Porphyry Discovery Pipeline
LARGE PORPHYRY Risks • Fluctuating commodity prices DISCOVERY PIPELINE • Funding risk • Permitting risk • Exploration risk Operating Mine Resource Stage Discovery Morenci Mine US $7.5 billion (2016) Oyu Tolgoi Resolution Copper* US $7.5 billion (2022) US $10 billion Robinson Mine Lunahasi Filo Del S
Slide 34: U.S. Copper Production Landscape
OVERVIEW U.S. Copper Production Landscape 1. Morenci Mine (Arizona): This mine is owned by Freeport-McMoRan. Morenci is the largest copper mine in the US, producing 700 million pounds of copper metal in 2024. • Ore Availability: Long-term production; still significant reserves. 2. Bingham Canyon Min
Slide 35: Producing Porphyry Copper Deposits
Producing Porphyry Copper Deposits Mine Name Morenci Bagdad Safford Sierrita Ray Bingham Canyon Location Arizona Arizona Arizona Arizona Arizona Utah Freeport (72%), ASARCO (Grupo Rio Tinto Owner Sumitomo (15%) Freeport Freeport Freeport México) (Kennecott) Annual Production ~900M lbs Cu ~200M lbs C
Slide 36: Development-Stage Porphyry Copper Deposits
Development-Stage Porphyry Copper Deposits PROJECT NAME Pebble Project Resolution Copper Rosemont Santa Cruz Copper Creek LOCATION Alaska Arizona Arizona Arizona Arizona Rio Tinto (55%) Arizona Sonoran OWNER Northern Dynasty Hudbay Minerals Fairday Copper BHP (45%) Copper RESOURCE (CU) 6.5Bt 1.8Bt 1
Slide 37: Exploration-Stage Porphyry Copper Deposits
Exploration-Stage Porphyry Copper Deposits Project Name Gunnison Copper Project Leviathan Butte Valley Selena Location Arizona Idaho Nevada Nevada Owner Gunnison Copper Hercules Metals Freeport-McMoRan Ridgeline/South32 Potential Size 500Mt target +1Bt Target TBD TBD Exploration Status Early-stage E
Slide 38: U.S. Porphyry Copper Mines/Projects
U.S. Porphyry Copper Mines/Projects 11 U.S. Copper Project Landscape Dominated by Low-Grade Producers and Stalled Giants — Hercules Targets the Sweet Spot Ray Resolution Cactus Creek Pebble Kennecott Rosemont Sierrita Project Bagdad Morenci TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 39: Why Copper is a Critical Mineral
Why Copper is a Critical Mineral An Emerging Powerhouse Increasing Demand Energy Supply Copper is now considered the "new oil" due to its role in electric vehicle (EV) batteries and green energy technologies like solar panels and wind turbines and in turn, could see a similar upside in the next thre
Slide 40: Key Federal Policy Initiatives On Copper
OVERVIEW 11 Key Federal Policy Initiatives On Copper • National Security Designation: Copper has been officially recognized as critical to national security. The administration initiated a Section 232 investigation under the Trade Expansion Act to assess whether copper imports threaten national secu
Slide 41: U.S. Copper Import Reliance & Widening Import/Consumption Gap
U.S. Copper Import Reliance & Widening 11 Import/Consumption Gap Imports US copper consumption 3.5 • In 2024, the US consumed ~1.6 million metric tons of refined 3 copper. Domestic US mine production was estimated at 1.1 million metric tons of recoverable copper content. However, due to limited smel
Slide 42: U.S. Copper Imports
U.S. Copper Imports 11 U.S. imports approximately 50% of its domestic copper consumption. China’s state-controlled copper industry controls over 50% of US copper imports by country global smelting capacity and operates four of the top five largest (2024) refining facilities. Other Japan 13% Germany
Slide 43: Silver and the Green Revolution
Silver and the 01 Solar Panels Green Revolution 02 Automotive Applications 03 5G Cellular Networks 43 TSX-V: BIG | OTCQB: BADEF | FRA: C0X 43
Slide 44: Hercules Historical Drilling
Overview Hole I ear rom m o m Interval m Ag g t P n Hercules 0 including 1980 0 8 .3 . 0 . 91.44 0. 9.14 8 8. . 0. 0. 4 0. 0.8 Historical Drilling including 1980 96.01 99.06 3.0 31 .8 0.04 0. 0 2 0 . 2 22. .2 o Assay o Assay AN 1980 36. 8 4.68 38.1 144.3 0.13 0.3 including 1980 0. 9 3.34 3.0 48 No A
Slide 45: Silver
Silver Soil Sampling 01 Soil sampling returned 02 Silver-in-soil values range anomalous silver > 5 ppm up to 604 ppm (17.6 oz/t) at over 3.5 kilometers and open the Belmont Zone under cover in both directions 03 Largest and highest-grade 04 Large regions of anomalous soil/coincident IP anomaly at rh
Slide 46: Rock Chip Sampling
Exploration Rock Chip Sampling Plan View Showing Silver and Copper Grades of Rock Chip Samples 46 46
Slide 47: Historical Silver Mineralization
Historical Silver Mineralization 3D Block Model Generated in 2022 Historical drilling information was collected prior to the enactment of NI 43-101, has not been verified by the Company’s Qualified Person, and should not be relied upon. 47 TSX-V: BIG | OTCQB: BADEF | FRA: C0X
Slide 48: June 2025 Drilling Update
June 2025 Drilling Update Drilling at the Leviathan Target Chargeability • 2025 drilling at the Leviathan Target, relative to chargeability 450m below surface. • The geophysical pattern is consistent with a classical porphyry copper system, with a low chargeability core flanked by a high chargeabili
Slide 49: June 2025 Drilling Update
June 2025 Drilling Update Drilling at the Leviathan Target Drone Magnetics • 2025 drilling at the Leviathan Target, relative to total magnetic intensity. • Similar to chargeability, magnetic data suggests continuity northeast into the untested Grade Creek Zone and beyond. • In the south, magnetic in
Slide 50: June 2025 Drilling Update
June 2025 Drilling Update Drilling at the Leviathan Target Surface Geochemistry • 2025 drilling at the Leviathan Target relative to an exposed part of the system with strong soil and rock chip geochemistry in the Eastern Block Zone. • Shown in white are a series of conceptual drill holes, subject to
Slide 51: 2025 Drilling Update
2025 Drilling Update Drilling at the Leviathan Target Surface Geochemistry - 2025 drilling at the Leviathan Target relative to an exposed part of the system with strong soil and rock chip geochemistry in the Eastern Block Zone. Shown in white are a series of conceptual drill holes, subject to modifi
Slide 52: Head Office
Head Office Herculesmetals.com Suite 1600 100 King St. W TSX-V: BIG | OTCQB: BADEF | FRA: C0X 1 First Canadian Place Toronto, Ontario M5X 1G5