Hertz Energy announces private placement, updates on mineral projects

Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) announced a non-brokered private placement and provided updates on several of its mineral exploration properties, according to a company statement.

The Vancouver-based junior exploration company is offering units at C$0.20 each for gross proceeds of up to C$1,500,000, and flow-through shares at C$0.28 each for gross proceeds of up to C$1,500,000, for a combined offering of up to C$3,000,000. Each unit consists of one common share and one warrant exercisable at C$0.40 per share for 36 months. Proceeds from units will fund exploration and general working capital, while flow-through share proceeds will be applied to eligible Canadian exploration expenses to be renounced to subscribers by December 31, 2026. Closing is subject to approval by the Canadian Securities Exchange.

At its Lake George antimony-tungsten project in New Brunswick, Hertz completed a 1,173-line-kilometre airborne magnetic and VLF-EM survey. The company noted that geophysical responses identified on its claims are broadly similar in character to those mapped over the historic Lake George Antimony Mine, but stated that geophysical similarity is not evidence of mineralization. The 2026 summer field program is planned to include prospecting, geological mapping, soil geochemical surveys, and potentially up to 3,000 metres of diamond drilling if suitable targets are identified.

Separately, Avenir Minerals, a subsidiary of Agnico Eagle Mines, has been selected by the Province of New Brunswick to work toward an exploration agreement for the former Lake George mine lease, an adjacent property in which Hertz holds no interest.

At its Agastya lithium project in James Bay, Quebec, Hertz plans exploration on portions underlain by greenstone belt stratigraphy. No mineral resource has been estimated on the property.

For its Crag-Rod silver project in east-central Yukon, Hertz is planning permitting, an airborne magnetic survey, and desktop data compilation, with a surface exploration program scheduled for the 2027 field season. Historical drilling at the Craig deposit has returned intercepts including 8.31 metres grading approximately 102 g/t silver, 4.8% lead, and 4.4% zinc.

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