12:59 PM EDT, 07/28/2025 (MT Newswires) -- Hercules Metals ( BADEF ) on Monday said it and its U.S. unit, Anglo-Bomarc, agreed to lead a consolidated district-scale exploration strategy and earn a 100% interest in over 74,000 acres of unpatented mining claims (Olympus claims) surrounding its Hercules property and the Leviathan porphyry discovery in western Idaho, with Barrick Gold Exploration (BGE), a wholly-owned U.S. unit of Barrick Mining (ABX.TO).

The company said Barrick will increase its equity position in the company, in exchange. This agreement expands the company's total land position from 26,000 acres to over 100,000 acres.

Hercules said, pursuant to the deal, it will make staged payments, either through issuance of common shares in its capital, or cash, at its election, to BGE or its designee, totaling $8 million over three years. Anglo-Bomarc will also grant BGE a net smelter return royalty of 1% on the Olympus claims, which can be bought back and reduced to 0.25%.

Shares of the company were last seen down $0.05 to $0.81 on the TSX Venture Exchange.

Price: 0.81, Change: -0.05, Percent Change: -5.81