Hercules Silver Further Defines New Porphyry-Style Copper Anomaly at the Leviathan Zone

  • Infill soil sampling provides higher resolution to new copper-gold anomaly
  • New anomaly spans 2.7 kilometers east-west and 1.7 kilometers north-south
  • 43 select rock grab samples collected, with 15 returning over 1% copper, up to a maximum of 8.2% copper, suggesting a potentially high-temperature core area of the silver system
  • Mapping has outlined a large zone of clay alteration partially overlapping the copper anomaly
  • Intrusive rocks mapped on the west side of the copper anomaly may represent a possible source of mineralization
  • A circular zinc halo suggests a zonation of metals around a central heat source
  • Large bedrock sampling program underway on untested outcrops across the Property

Toronto, Ontario / August 31, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report results of further infill and expansion sampling at its new Leviathan Zone copper-gold soil anomaly, immediately adjacent to the 5.5-kilometer disseminated silver-lead-zinc system on its 100%-owned Hercules Silver Project in Idaho (“Hercules”, or the “Property”). The copper-gold anomaly may represent a possible porphyry copper system, with lenses of skarn that are similar to mineralization at the past-producing Railroad Mine located adjacent to the east of Hercules. Select rock grab samples from within the anomaly have graded from nil to 246 g/t silver with 8.2% copper. The strong silver grades may be derived from skarn lenses within the volcanics or alternatively, may be related to the nearby Copper Cliff Mine, a copper-silver system historically mined by Noranda from the same volcanic formation located to the north of the Property in the nearby town of Cuprum, ID[2]. The presence of intrusive rocks at surface, strong alteration and widespread copper oxide staining provides encouragement for a significant hydrothermal system. An extensive bedrock sampling program is now underway, collecting 2-meter chip samples from outcrops within various soil anomalies on the Property.

The full news release, including high-resolution images of the soil sampling results, can be found on the Company’s website by following the link below:


Management Commentary

Chris Paul, CEO and Director of the Company, noted: “The new soils data provides greater resolution to the Leviathan Zone, and represents an important step forward in exploring this newly discovered zone. We have noted many characteristics of a significant copper system, including the presence of intrusive rocks at surface, widespread alteration and copper oxide staining of outcrops. Historical age dating – completed as part of a Ph.D. dissertation by our advisor Dr. Tom Henricksen – provided an age estimate of 200 million years for nearby intrusives, coinciding with the important Triassic-Jurassic boundary, the mean age of formation for nearly all significant porphyry copper systems north of the Property in British Columbia. We’re now further advancing the target through systematic sampling of mineralized outcrops, as we look to finalize our drill plan for this exciting new target.”

Figure 1 illustrates a conceptual porphyry copper system, with replacement-style silver-lead-zinc hosted in the adjacent stratigraphy (Sillitoe, 2010)[3].

Figure 1: Schematic cross-section through a porphyry copper system showing associated deposit types and relative position of Hercules mineralization (modified from Sillitoe, 20102)
Figure 2 – Outcropping Copper Mineralization at the Leviathan Zone
Figure 3: Historical, 2021 and 2022 Copper-in-Soil
Figure 4: 2021-2022 Gold-in-Soil
Figure 5: 2021-2022 Zinc-in-Soil

Geological Setting

The host rocks within the copper anomaly are mapped as Huntington Formation, consisting of Triassic andesitic volcanics interbedded with limestones. Plugs and dykes of quartz porphyry intrude the sequence, which may be the near-surface expression of a deeper intrusive complex. The neighbouring IXL property, immediately southeast of the Property2 and held by EMX Royalty Corp., is underlain by a large intrusive complex with associated porphyry-style copper-gold-molybdenum mineralization.

Several historical showings, including the White Monument, Cliff, Little Gem, Metheny, Yellow Bride, Long Cut and Big Cut prospects, occur mostly to the southeast of the new copper anomaly. Historical trenching at the Property’s Big Cut prospect reportedly uncovered en-echelon mineralized structures containing chalcopyrite as disseminations, and less commonly as semi-massive lenses. The copper mineralization is associated with rhyolite sills and dykes, suggesting a possible relationship as feeder dykes to the overlying Hercules Rhyolite. Historical sampling at the Big Cut prospect, discussed in unpublished reports obtained by Hercules Silver, yielded grades of up to 1.78% copper across 90 feet (~27 meters) and 1.3% copper across 57 feet (~17 meters). Silver was only selectively assayed at the time. Other notable historical trench intercepts at the Big Cut prospect noted in the reports include:

Table 1 – Select Historical Trench Results – Big Cut and Surrounding Prospects

ZoneLength (ft.)Length (m)Cu (%)Ag (oz/t)
Big Cut4012.21.58NR
Big Cut18054.90.94NR
Big Cut4012.20.91NR
Big Cut6018.30.91NR
Cut Above11535.10.93NR
Cut Above72.12.680.98
Cut Below6018.30.83NR
Long Cut7021.30.63NR

NR = Not Reported

The assay results reported above are historical in nature and have not been verified by a Qualified Person; therefore, they should not be relied upon.

Portions of the soil grid contain widely scattered test pits, shallow shafts, and adits from the late 1800s and early 1900s. As a result, some soil values may be upgraded or downgraded in these areas, the extent of which is difficult to quantify at this time. The largest and most continuous portion of the copper soil anomaly, however, occurs in the center of the Property – an area with almost no known historical disturbance.

Sampling Methodology

Samples were collected at 50-meter grid spacings with the use of dutch soil augers, making an effort to consistently sample the same B horizon material at each sample site. The B horizon typically occurs at a depth of approximately 10-30 centimeters on the Property and comprises silt-size material with elevated levels of clay and iron and manganese oxyhydroxides. The B horizon soil is known to preferentially adsorb trace metals such as silver, lead and zinc and is often the preferred sample medium in mineral exploration surveys. Following collection, the samples were bagged, dried and shipped to MSA Labs in Langley, British Columbia for analysis.

Sample Analysis and QAQC

All soil samples were prepped and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and sieved to -180 micron (80 mesh). Following preparation, soil assays were determined by IMS-117 method. A 20g aliquot of the prepared pulp was cold-digested with HNO3, then HCl is added, and the sample was heated at 130˚C for 40 minutes. Digestion was carried out in disposable plastic bottles to eliminate cross-contamination from digestion vessels and heated via graphite block for even heating. The resulting solution was analyzed via ICP-MS and ICP-ES for 39 elements and was corrected for inter-element spectral interferences.

Blind certified reference materials (CRMs) purchased from an independent commercial laboratory and duplicate samples were inserted by the Company at a frequency of 1 in every 25 samples. Duplicate samples were prepared in the field by homogenizing soil collected at a specific sample site and placing it in two soil sample bags in sequence. CRM results for copper, silver and zinc were all within acceptable limits with no failures.  Several low failures on gold for two CRMs and a general low-bias versus the certified mean on all three of the CRMs submitted to the laboratory were noted and merit additional investigation. MSA Labs also employs internal quality control standards, duplicates and blank samples at set frequencies. MSA Labs gold results against one of its internal commercial certified reference materials tested low with one -3SD failure, whereas its second CRM tested with acceptable results. Lab blanks showed no indications of contamination. 

Duplicate sample precision results for copper, silver and zinc were excellent.  Gold results showed more variation as expected due to the relatively low values.

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. Some of the technical information presented in this news release was collected prior to the enactment of NI 43-101 standards and includes paper records maintained by various companies that conducted exploration work on the Property.  Details of the geochemical sampling methods, security, assaying, and quality control methods used in the generation of this historical technical data are unknown to Hercules Silver Corp.; however, in Mr. Cameron’s opinion, the historical geochemical soil sampling results are verified by the Hercules Silver Corp. sampling program for the purposes of NI 43-101.

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 
 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.


[1] The reader is cautioned that rock grab samples and their respective photographs are selective by nature and may not represent the true grade or style of mineralization across the Property

[2] This news release contains information about adjacent properties on which Hercules Silver has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

[3] Sillitoe, R. H. (2010). Porphyry Copper Systems. Economic Geology, 105, 3–41.

 

Bald Eagle Announces Exchange Approval for Name Change to Hercules Silver Corp. and Provides Exploration Update

Toronto, Ontario / August 24, 2022 – Hercules Silver Corp. (formerly Bald Eagle Gold Corp.) (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to announce that the TSX Venture Exchange (the “TSXV”) has approved the Company’s name change from Bald Eagle Gold Corp. to Hercules Silver Corp (the “Name Change”). The Company’s common shares (the “Common Shares”) will commence trading under the name Hercules Silver Corp. today at the market opening of the TSXV.

The Common Shares will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0). The Common Shares will trade under CUSIP and ISIN numbers 42710L106 and CA42710L1067, respectively, following the Name Change.

The Name Change was fully described in the Company’s management information circular dated June 10, 2022, which can be accessed on the Company’s SEDAR profile at www.sedar.com, and was approved by shareholders of the Company at the Annual and Special Meeting of Shareholders held July 15, 2022.

The rebranding features a new website, www.HerculesSilver.com, where a new redesigned corporate presentation can also be found. Readers are encouraged to explore the website which features a new look and content with enhanced visuals.

Management Commentary

“We are pleased to officially begin trading today under Hercules Silver Corp., which marks the beginning of our new journey as an exciting new silver explorer in the mining-friendly state of Idaho,” said Hercules Silver CEO and director, Chris Paul. “We encourage investors to visit our newly designed website and presentation on the project.”

Exploration Update

The Company’s surface-based exploration at the 100% owned Hercules Silver Property, located in Washington County, Idaho, USA (the “Hercules Property”) is progressing well. Ongoing work includes geochemical sampling, detail mapping and planning for a property-wide 3D IP geophysical survey. The Company recently completed a follow-up soil survey on its new copper anomaly for which assays are expected imminently. Field crews are now following up on new targets generated by soil sampling with detailed chip and channel sampling of outcrops. The Hercules Property is fortunate to have very good outcrop exposure, which allows for low-cost surface sampling of the new targets. Over 1,000 rock chip samples are planned on a 50-meter grid pattern within the new targets, permitting the Company to collect widespread bedrock geochemical data on surface ahead of a drill program planned for later this year. This strategy will provide 2D geological and geochemical data for the entire surface exposure of new targets, including lithology, alteration, mineralization, as well as silver, copper, lead and zinc grades over kilometers of bedrock exposure. This ongoing field program will allow the Company to map the geology and metal grades of the surface in 2D, prior to defining the third dimension with drilling.

In addition to the widespread bedrock sampling and logging program currently underway, the Company has also engaged Specialized Geological Mapping Ltd. of Inverness, Scotland to carry out several weeks of detailed mapping. Scheduled to begin on August 25, 2022, the mapping will be focused on the key structural controls and stratigraphy controlling mineralization which will be used to form a predictive model for targeting potentially higher-grade portions of the system at depth. Alteration and mineralization will be the focus at the new copper porphyry target, to help vector towards the center of that system.

A property wide 3D induced polarization (IP) survey is scheduled to commence in late summer, subject to contractor availability. Historical IP surveys effectively correlated high chargeability values to silver mineralization at the Hercules Adit and Fishpond Zones and therefore it was selected as the geophysical method of choice for the Hercules Property. The historical IP also indicated a strong zone of chargeability coincident with the best silver-in-soil anomaly on the Hercules Property at the Grade Creek Zone. The historical IP anomaly has never been tested by drilling and remains open to the north and at depth. It will be included within the new, deeper seeking 3D survey to better define its true geometry and extent. The copper anomaly discovered this year will also be covered to investigate the potential for a large copper porphyry system. Altogether the survey will cover approximately 2,500 acres of mineralized footprint to over 600 meters of depth, an incredibly large volume of rock for an IP survey. Line lengths will be up to 5 kilometers.

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. 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) 670-5527
Email: cpaul@herculessilver.com 
 

Qualified Person

Exploration activities at the Hercules Property are administered on site by the Company’s Vice President of Exploration, Antoine Soucy-Fradette. In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, Donald E. Cameron, Technical Advisor to Hercules Silver Corp. and an independent Qualified Person, has reviewed and approved the technical and scientific content of this news release.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Bald Eagle Announces Name Change to Hercules Silver Corp.

Toronto, Ontario / August 18, 2022 – Hercules Silver Corp. (“Hercules Silver” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to announce that it has completed its name change to reflect the recent changes in the Company’s business and exploration activities. As part of this initiative, Hercules Silver has effective as of today, amended its articles in accordance with the Business Corporations Act (Ontario) to changes its name from Bald Eagle Gold Corp. to Hercules Silver Corp. (the “Name Change”).

The Company’s common shares (the “Common Shares”) are expected to begin trading on the TSX Venture Exchange under the new name at the market open on or around August 24, 2022.

The Company will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0). The Common Shares will trade under CUSIP and ISIN numbers 42710L106 and CA42710L1067, respectively, following the Name Change.

The Name Change was fully described in the Company’s management information circulate dated June 10, 2022, which can be accessed on the Company’s SEDAR profile at www.sedar.com, and was approved by shareholders of the Company and the Annual and Special Meeting of Shareholders held July 15, 2022.

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. 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) 670-5527
Email: cpaul@baldeaglegold.com 
 

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the COVID-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Bald Eagle Announces Rebrand Under Hercules Silver Corp. and Provides Corporate Update

Toronto, Ontario / August 4, 2022 – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to release its plans for a corporate name change to Hercules Silver Corp. to reflect the Company’s sole focus on it’s 100%-owned Hercules Silver Project in Idaho. The Company will now operate as and market itself as Hercules Silver Corp. The formal adoption of the new name remains subject to stock exchange and regulatory approvals. The Company will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0).

The rebranding features a new redesigned website, www.HerculesSilver.com, which launches today where a new redesigned corporate presentation can also be found. Readers are encouraged to explore the new website which features a new look and new content with enhanced visuals.

Management Commentary

“The acquisition of the Hercules Silver Project was a significant achievement for the Company and was the result of over 18 months of hard work and dedication by our team,” said CEO and director, Chris Paul. “We are excited to celebrate the Company’s evolution to becoming a silver explorer in one of the best mining jurisdictions in the world. We are proud to unveil our newly re-designed website and presentation built by TSX Marketing Inc. in connection with our rebranding and we encourage readers to visit the website and download our new presentation.” 

Name Change Detailed Information

The Company’s name change was approved by a special resolution at the Annual General and Special Meeting of the shareholders held on July 15, 2022 (for further details, please see the Company’s news release dated July 15, 2022) as well as by the Company’s board of directors. The name change remains subject to stock exchange and regulatory approvals. The Company will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0). Further details, including details regarding a new CUSIP number, will be included in a subsequent news release.  

Corporate Update

On July 15, 2022, the shareholders of the Company approved a new omnibus incentive plan (the “Plan”). The Plan provides for the issuance of incentive stock options (“Options”) and restricted share units (“RSUs”) to qualified directors, officers, employees and consultants of the Company.  Pursuant to the terms and conditions of the Plan, the maximum amount of the Company’s common shares (“Common Shares”) reserved for issuance under the Plan shall be limited to 29,341,745 Common Shares less any other Common Shares reserved for issuance pursuant to other securities based compensation arrangements. 

The Company has granted an aggregate of 3,500,000 Options and an aggregate of 4,000,000 RSUs to certain directors, officers, employees and consultants of the Company. The Options and RSUs were granted in connection with the Company’s annual compensation review and pursuant to the Company’s omnibus incentive plan approved by shareholders of the Company on July 15, 2022. The Options have an exercise price of $0.09 and vest in twenty-five percent (25%) increments each six (6) months. The Options are exercisable for a period of 5 years from the date of the grant thereof. Two (2) million RSUs vested immediately and two (2) million RSUs will vest in twenty-five percent (25%) increments each six (6) months.

Furthermore, the Company announced the resignation of its President and Director, Raymond Harari. The Company thanks Mr. Harari for his efforts and wishes him all the best in his future endeavours.

About Bald Eagle Gold Corp.

Bald Eagle Gold 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. 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@baldeaglegold.com  
 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. 

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.