HM Exploration Begins Drilling at Lewis Pilley’s Project Targeting 16.6% Copper at Surface

VANCOUVER, British Columbia, May 12, 2026 (GLOBE NEWSWIRE) -- HM Exploration Corp. (“HM Exploration” or “HM” or the “Company”) (CSE:HM) (FSE:X5H) is pleased to announce that it has commenced drilling at the Clifford Jones (Bull Road) Trench Zone (the “Zone”) at the Company’s Lewis Pilley’s Project (the “Project”) located in Pilley’s Island, Newfoundland. The drilling program (the “Program”) is designed to test high-grade copper mineralization directly beneath surface samples collected in 2025 that returned up to 16.6% copper*.  

“The massive sulfide exposed at surface at the Zone exhibits high grade copper content and is extensive,” said Nicholas Rodway, CEO of HM Exploration. “The Zone we are currently drilling has not been historically tested. A 2016 trench uncovered the massive sulfide mineralization immediately southwest of prior drill holes, suggesting this zone was overlooked in earlier exploration campaigns. A high-grade, copper-rich intercept here would be transformative for the Company, particularly at this early stage of exploration. With recent exploration success in Newfoundland and increasing global focus on high-grade copper systems, we believe this represents a compelling opportunity for HM shareholders.”

Highlights:

• Two thousand five hundred (2,500) meters minimum diamond drilling program underway at the Zone.
• Drilling targeting high-grade mineralization beneath surface samples grading up to 16.56% Cu*.
• 2025 outcrop grab samples taken by the Company at the Zone returned*:
  • Sample 181000 returned 6.79% Cu, 2.99% Zn, 22.50 g/t Ag, and 0.64 g/t Au
  • Sample 181001 returned 4.46% Cu, 2.63% Zn, 22.00 g/t Ag, and 0.53 g/t Au
  • Sample 181002 returned 16.56% Cu, 1.68% Zn, 18.60 g/t Ag, and 0.80 g/t Au
  • Sample 181003 returned 5.89% Cu, 27.20 g/t Ag, and 0.38 g/t Au
  • Sample 181007 returned 8.08% Cu, 17.50 g/t Ag, and 0.18 g/t Au
• Historic drilling conducted by Brinco-Getty and Brinex in the peripheral area produced assay values up to:
  • BBF-27: 3.05m @ 0.93% Cu, 0.89% Pb, 3.51% Zn, 27.68 g/t Ag**
  • PI-83-01: 7.35m @ 0.66% Cu, 0.51% Pb, 3.41% Zn, 10.57 g/t Ag**
  • PI-83-07: 2.49m @ 0.70% Cu, 0.22% Pb, 0.74% Zn, 6.53 g/t Ag**
    

* Outcrop samples referenced above were collected in 2025 by the Company as part of HM Explorations due diligence process prior to entering into the agreement to acquire the Project.
** Historic intercept lengths have been converted from feet to meters and Ag/Au results have been converted from oz/t to g/t.

Figure 1: Outcrop samples collected at the Zone in 2025 displayed impressive mineralization including both massive and disseminated chalcopyrite ± sphalerite, silver, gold, and lead*.

Figure 2: Location map of the Project displaying historical showings/zones located on the Project. 2026 diamond drilling has commenced at the Zone.
** Historic intercept lengths have been converted from feet to meters and Ag/Au results have been converted from oz/t to g/t.

About Lewis Pilley’s Project

The Project is road accessible and situated approximately twenty-five (25) km east of the town of Springdale, approximately fifty-five (55) km southeast of Firefly Metals’ Green Bay Project and approximately a hundred fifty (150) km from the Pine Cove Mill and Port by way of major roads.

The Project has a long history of mining and exploration dating back to the late 1800’s when the Pilley’s Island Pyrite Company Ltd. produced approximately 450,000 tons of massive pyritic ore from the Pilley’s Island Mine-Old Mines (after Kerr, 1996).

The Project hosts a cluster of Volcanogenic Massive Sulfide (“VMS”) systems and prospects with demonstrated high-grade Zn-Pb-Cu-Ag+/-Au intersections. Mineralization is typical bimodal-felsic VMS, with both massive sulfide and sulfide-clast breccias (Thurlow, 2001). The geological setting is directly analogous to the Buchans camp (Thurlow, 1996), and the presence of sulfide-clast breccias is a strong vector toward proximal massive sulfide lenses.

Most of the historic showings that fall within the extents of the Project have not seen systematic exploration recently or historically. Many of the historic drill holes were shallow and drilled in a vertical orientation limiting the geological knowledge of the extents of the underlying lithology and mineralization. Work is being planned to validate historic assay results as well as collect new data from the 3B-Zone, Clifford Jones (Bull Road) Extension, Bouzanne Shaft, Henderson, Mansfield and Pilley’s Cove Showings.

Figure 3: Regional map of Newfoundland displaying the location of the Project and other significant mineral exploration and mining projects in Newfoundland – Canada.

Geology & Mineralization

The Project is located within the Notre Dame Subzone of the Dunnage Tectonostratigraphic Zone. Of note, most of the Project is underlain by Ordovician submarine volcanic rocks of the Roberts Arm Group which is regionally identified as part of a mature arc sequence referred to as the Buchans-Roberts Arm Belt that also hosts the historic Buchan’s mine (after Dunning et. Al., 1987). Mineralization occurs as lower grade (Spencer’s Dock); medium grade (Old Mines); and high grade (3B-Zone/Clifford Jones) deposits that are of both sub-seafloor replacement and exhalative varieties. The deposits are often flanked by extensive chlorite, sericite, silica, K-feldspar and epidote alteration often observed in bimodal-felsic VMS systems. The Spencer's Dock area displays sericite/silica alteration that generally increases in intensity near mineralized zones, while the 3B/Old Mine areas display sericite/silica alteration that is abundant but less widespread and is more intense when proximal to mineralized zones (after Kerr, 1996).

VMS deposits are a globally significant source of copper, zinc, lead, silver, and gold. The Project’s geology shares key characteristics with known VMS districts in Newfoundland, including the past producing Buchans, Ming and Rambler Mines supporting the exploration potential of the Project.

Rock Sample Location Table

Table 1: Rock grab sample location table. Sample data points collected in NAD81 - Zone 21N.

Marketing Agreement

The Company is pleased to announce that it has entered into an agreement (the “Agreement”) with Stockchain Capital LLC (“Stockchain”) on May 12, 2026, (Address: 3833 Powerline Rd., Suite 801-T, Fort Lauderdale, Florida, 33309, USA; E-mail: [email protected]; Phone: +1 (954) 582-8682) to provide investor relations services in compliance with the policies and guidelines of the Canadian Securities Exchange (“CSE”) and other applicable securities legislation for a term of twelve (12) weeks, commencing May 18, 2026 (the “Term”). Stockchain is a capital markets advisory and communications firm whose principal is Hai Nam Tran.

Under the Agreement and during the Term, Stockchain will provide investor relations services targeted toward a German investor audience and will disseminate Company-approved information to increase public awareness (the “Services”). Stockchain will provide the company with digital marketing and similar services, including the creation of headlines, descriptions and titles for advertising, google advertising, implementation of remarketing systems and interactive landing pages, with the aim of increasing investor awareness through various on-line platforms and methods of engagement. In consideration for the Services, the Company will compensate Stockchain EUR $250,000, payable in a single installment from the Company’s working capital. The Company will not issue any securities to Stockchain as compensation for the Services. As of the date hereof, to the Company's knowledge, Stockchain (including its principals) does not own any securities of the Company and has an arm's-length relationship with the Company. The Agreement is subject to approval of the CSE.

Sampling, Preparation & QA/QC

Rock sample data points were collected using hand-held GPS (NAD83-Zone 21N). The samples were given a unique sample ID and number and shipped directly to Eastern Analytical Ltd. (403 Little Bay Road, Springdale, NL), a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of the company. Analytical methods include ICP-OES (34 element) with four-acid digestion, Au Fire Assay (30g) with AA finish, and Ore Grade Assay (multi-acid digestion) with AA finish.

References

British Newfoundland Exploration Limited 1968: Diamond drilling data from Pilley’s Island, Newfoundland. British Newfoundland Exploration Limited Unpublished report [GSB# 002E/12/0168]
Bostock, H.H. 1988: Geology and petrochemistry of the Ordovician volcano-plutonic Roberts Arm Group, Notre Dame Bay, Newfoundland. Geological Survey of Canada Bulletin 369, 84 pages, with 1:50,000 colour map.
Consolidated Morrison Exploration Company 1979: The Bull Road showing, Pilley’s Island, Nfld. Consolidated Morrison Exploration Company unpublished report. [NDNR 2E/12]
Dunning, G.R., Kean, B.F., Thurlow, J.G. and Swinden, H.S. 1987: Geochronology of the Buchans, Roberts Arm and Victoria Lake Groups and Mansfield Cove Complex, Newfoundland. Canadian Journal of Earth Sciences, Volume 24, pages 1175-1184.
Epp, W.R. 1984: Brinco/Getty Joint Venture Dawes Pond Tenure Pilley’s Island 1984 diamond drilling report Blast Furnace Option, C.B. 2400, Lic. 2240, Newfoundland. Brinco Mining unpublished report. [NDNR 2E/524]
Grimley, P.H. 1968: Geological and other notes on Pilley’s Island. Brinex unpublished report. [NDNR 2E12/274]
Harris, A. 1976: Consolidated Morrison Exploration Company; The Bull Road showing, Pilley’s Island, Nfld. Consolidated Morrison Exploration Company unpublished report. [NDNR 2E/12/0388]
Horsburgh, J R 1967: The geology of the Pilleys Island prospect, Notre Dame Bay, Newfoundland. BSc thesis, Royal School Of Mines. 170 pages. [GSB# 002E/12/0265]
Hum, P. 1983: Report on the 1983 diamond drilling Pilley’s Island Blast Furnace Option and C.B. 2400, Licence 2240, Newfoundland. Brinco Mining Document No. G83005. [NDNR 2E/487]
Kerr, A. (1996) New perspectives on the stratigraphy, volcanology, and structure of the island-arc volcanic rocks in the Ordovician Roberts Arm Group, Notre Dame Bay. In Current Research, Newfoundland Department of Natural Resources, Geological Survey, Report 96-1, pages 283-310.
Paltser, Ulo, 1989. Geological and geochemical surveys in the Sunday Cove Tickle area, north central Newfoundland, C.B. 5746, Lic. 3303, NTS 2E/12, by James Wade Engineering for Epoch Capital Corp. [2E/12/0648]
Strong, D F 1974: Geology of the Pilleys Island area. In Ore deposits and their tectonic setting in the Central Mobile Belt of northeast Newfoundland. Geological Association of Canada-Mineralogical Association of Canada, Field Trip Manual, No. A-3 and B-3, pages 26-34. [GSB# NFLD/0782]
Thurlow, J.G 1996: Geology of a newly discovered cluster of blind massive sulfide deposits, Pilley’s Island, central Newfoundland. In Current Research, Newfoundland Department of Natural Resources, Geological Survey, Report 96-1, pages 181- 189.
Tuach, J. 1989: Diamond drilling at Pilley’s Island, Newfoundland January – February 1989. Licence 2278 and Fee Simple Grant Vol. 1, Fol. 28 (NTS 2E/12). Au Pell Resources Inc. unpublished report. [ NDNR 2E/656]
Walker, W B G 1960: Report on copper-pyrite of Pilleys Island, Newfoundland. British Newfoundland Exploration Limited Unpublished report [GSB# 002E/12/0242]

National Instrument 43-101 Disclosure

Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 1000359) is CEO and Director of the Company, and a qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has supervised the preparation, verified and approved the technical content in this news release. Verification included review of field notes, sample tags and analytical certificates. No limitations were noted during the verification process.

About HM Exploration Corp.

The Company is currently advancing its Lewis Pilley’s Project located in Newfoundland. The Project encompasses a land area of ~41.25 km² and hosts a cluster of volcanogenic massive sulfide (VMS) systems and the historic Pilley’s Island Mine (~450,000 tonnes of ore produced in the late 1800s). Historic drilling at the 3B-Zone returned significant intersections, including 16.77m of 1.84% Cu and 3.05m of 5.03% Zn with 1.02 g/t Au (Au Pell, 1989). The geological setting is directly analogous to the prolific Buchans camp, with multiple underexplored showings and strong potential for new discoveries.

In addition, the company holds 100% interest in the Devil’s Den Project, an exploration-stage Project consisting of two contiguous mineral licences encompassing ~3,200 hectares located west of Port Alberni, Vancouver Island, British Columbia. Exploration work completed in 2022 established four geochemical grids to identify possible buried mineralization, uncovering multiple high-grade occurrences including copper values up to 4.68% at surface (Devil’s Den NI 43-101, Nov 2022). Phase One exploration completed in 2025 included high-resolution UAV magnetic surveying and a lithogeochemical program, which identified new structural targets and zones of elevated copper, zinc, and nickel geochemistry. The project hosts multiple historical adits with high-grade surface occurrences that remain undrilled. HM believes a lack of adequate modern exploration has left significant discovery potential.

HM Exploration is committed to applying modern exploration techniques across its projects to unlock value in historically underexplored Canadian mining districts.

On Behalf of the Board of Directors

HM EXPLORATION CORP.

“Nicholas Rodway”
President & CEO
Tel: 604.681.1568
[email protected]

Forward Looking Statements

This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information.

Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of HM, future growth potential for HM and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of copper, gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; HM’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; potential benefits of conducting the Program; completion of the Program; statements with respect to the provision of the Services by Stockchain under the Agreement. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of copper, gold and other metal deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.