HM Exploration Provides Program Update for the Lewis Pilley's Project

VANCOUVER, BC / ACCESS Newswire / September 25, 2026 / HM Exploration Corp. ("HM Exploration", "HM" or the "Company") (CSE:HM)(FSE:X5H)(OTCQB:HMEXF) is pleased to provide an update on the recent exploration programs conducted at its Lewis Pilley's Project (the "Project") in Newfoundland, Canada.

The DGI televiewer survey was completed in late July. HM Exploration has received the final structural data and is incorporating it into its geological model.

The Crone electromagnetic ("EM") survey was completed in mid-September. Crone also conducted a pilot surface EM survey across known mineralization exposed in a trench at the Clifford Jones (Bull Road) Zone to assess the technique's potential for identifying additional mineralization elsewhere on the Project. The Company is awaiting the final report.

For both surveys eleven of the twelve drill holes were surveyed; one hole could not be surveyed due to collapse.

HM Exploration is approved to conduct Phase 2 drilling at the Project, with drilling anticipated to begin in early to mid-November. The Company will use its interpretation of the televiewer and EM data to plan the next phase of drilling.

"The televiewer data is helping us refine our understanding of the structures that control mineralization at Lewis Pilley's," said Nick Rodway, CEO of HM Exploration. "Once we receive the final EM report, we will bring both datasets together to prioritize targets for our planned November drill program. The pilot surface survey will also help us assess whether EM can guide exploration beyond the areas we have already drilled."

Figure 1: Plan map showing the drill holes surveyed with Borehole EM + Televiewer. Yellow line indicated the ‘Test' line for surface EM.

Televiewer Program (OTV / ATV)

Televiewers produce accurate and consistent oriented images of drill holes, allowing in situ structural measurements of both planar and linear geological features. Data can be visualized as 3D "virtual core" or as 2D "unwrapped core," and structures can be measured very rapidly. Data is catalogued automatically and ready to import into 3D modelling programs. Common features analyzed include veins, contacts, bedding/foliation, fractures/joints, faults, fold limbs and hinges (https://www.dgigeoscience.com/imaging/).
About the TDEM Surveys

Time-Domain Electromagnetics ("TDEM") is a proven geophysical technique widely used in mineral exploration to identify and characterize electrically conductive zones in the subsurface. In VMS exploration, TDEM is particularly effective because many volcanogenic massive sulphide deposits contain significant concentrations of conductive sulphide minerals, which can produce a measurable electromagnetic response. By transmitting an electromagnetic signal into the ground

and measuring the resulting decay response, TDEM surveys, such as Crone's Pulse-EM system can help identify conductive anomalies that may represent massive sulphide mineralization and can provide information on their size, geometry, depth and continuity. When integrated with geological mapping, geochemistry, drilling and other geophysical data, TDEM can be an effective tool for prioritizing exploration targets and refining drill programs, potentially improving the efficiency and success of mineral exploration.

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 one 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 1800s when the Pilley's Island Pyrite Company Ltd. produced approximately 450,000 tonnes of massive pyritic ore from the Pilley's Island Mine-Old Mines (after Kerr, 1996).

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

Most of the historic showings that fall within the extents of the Project have not seen systematic exploration. 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.

Board and Audit Committee Update

The Company announces that Alan Yi Hsiu Lu has resigned from the board of directors (the "Board") and as a member of the Audit Committee, effective September 24, 2026. The Board thanks Mr. Lu for his service and contributions to the Company and wishes him well in his future endeavors.

The Board has appointed Nicholas Rodway, a director and the Company's Chief Executive Officer, to serve on the Audit Committee on an interim basis. The Company intends to appoint an independent director to the Audit Committee within the period prescribed by applicable securities laws (the "Appointment").

National Instrument 43-101 Disclosure

Nicholas Rodway, P.Geo, (Licence No. 46541) (Permit to Practice No. 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 of, and verified and approved the technical content in this news release.

References

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.

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.

Thurlow, J.G (1996): Geology of a newly discovered cluster of blind massive sulphide deposits, Pilley's Island, central Newfoundland. In Current Research, Newfoundland Department of Natural Resources, Geological Survey, Report 96-1, pages 181- 189.

Thurlow, J.G (2010): Great Mining Camps of Canada 3., The History and Geology of the Buchans Mine, Newfoundland and Labrador

About HM Exploration Corp.

The Company is currently advancing its Lewis Pilley's Project located in Newfoundland. The Project encompasses a land area of ~60.25 km² and hosts a cluster of volcanogenic massive sulphide (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
info@hmexploration.com

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 presence of VMS systems within the Project and the likelihood of a future discovery; the Company's objectives, goals, or future plans with respect to the Project; the expected benefits of completing the Program; the current and future results of the Program; further exploration work on the Project or other projects in the future; and completion of the Appointment within the prescribed time period. 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 drill results and the geology, continuity and grade of copper, gold and other metals; 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.

SOURCE: HM Exploration

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