Toronto, Ontario--(Newsfile Corp. - May 23, 2023) - Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7) ("Hercules Silver" or the "Company") is pleased to announce the appointment of Mr. Christopher Longton, CPG, as Vice President of Exploration of the Company. Mr. Longton is an accomplished geologist with over 15 years experience from greenfields exploration to production on precious and base metals deposits throughout North America and Australia. He has extensive experience managing large-scale projects, most recently as the Senior Exploration Manager for Integra Resources' Delamar project in southern Idaho. Prior to Delamar, Chris provided senior geological support on several advanced development and production scale projects for various companies, most notably New Gold Inc. and Equinox Gold Corp. Mr. Longton will now directly manage the advancement of the Company's Hercules Silver Project in Idaho, USA.
Mr. Chris Paul, CEO and Director of the Company, commented: "We are very pleased to have Chris Longton join the Hercules Silver team. His extensive exploration management experience will be a great asset to the Company. We look forward to leveraging Chris' experience in targeting a large silver resource on the Hercules project."
Mr. Christopher Longton commented: "I am thrilled to be a part of the Hercules exploration team and to have the opportunity to utilize my experience in unlocking the full potential of the Hercules Silver Project. With our shared commitment to quality exploration work, I am confident that we can create significant value for our shareholders and contribute to the success of the company."
Mr. Longton currently holds a bachelor's degree in Geology from Illinois State University and is a Certified Professional Geologist ("CPG") and a Qualified Person ("QP") as defined by National Instrument 43-101.
The Company has granted 1,250,000 incentive stock options (the "Options") to Mr. Longton, with an effective date of May 22, 2023. The Options will vest in four equal tranches over 24 months from the grant date of May 22, 2023. The Options are exercisable for a period of 5 years have an exercise price of $0.17 per common share. The Options were granted pursuant to the Company's omnibus incentive plan approved by shareholders of the company on July 15, 2022.
The Company also granted an additional 1,500,000 Options to certain officers and advisors, with an effective date of May 22, 2023, under the same exercise price and terms.
The Company further announces that Mr. Keith Li, the Company's Chief Financial Officer has also been appointed as the Company's Corporate Secretary, effective immediately. Concurrent with Mr. Li's appointment, Mr. Darren Collins has resigned from his role as Corporate Secretary of the Company. Mr. Collins will remain as a director of the Company.
About Hercules Silver Corp.
Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho.
The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The Company is well positioned for growth through the drill bit in 2023, having completed extensive surface exploration in 2022 consisting of soil & rock sampling, geological mapping, IP geophysics, and a 9-hole drill program.
The Company's management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide.
For further information please contact:
CEO & Director
Telephone +1 (604) 449-6819
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. Forward-looking statements in this news release include but are not limited to, statements with respect to the vesting schedule of the Options, the Company's objectives, goals or future plans and the expected financial performance of the Company.
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.
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