Hemlo Mining Corp. Reports Second Quarter 2026 Financial and Operating Results

Hemlo Mining Corp. (TSX: HMMC) (OTCQX: HMMCF ) ("Hemlo" or the "Company") is pleased to announce its financial and operating results for the second quarter ended June 30, 2026 ("Q2" or "Q2 2026"). The Company will host a conference call to discuss second quarter 2026 results on Wednesday, August 12, 2026 at 11:00 AM Eastern Time. (All amounts expressed in U.S. dollars unless otherwise stated) Jason Kosec, President, CEO & Director of Hemlo Mining, commented: "Q2 demonstrated continued execution against our strategic priorities as we advanced our owner-operator transition and strengthened the operational foundations required to support higher long-term production rates. We delivered attributable gold production of 25,188 ounces, generating revenue of $142.5 million and net income of $31.0 million, or $0.10 per share. During the quarter, production was in line with our expectations while operational fundamentals strengthened meaningfully, positioning the business for improved performance as newly developed mining areas enter the production sequence. We also achieved several important strategic milestones, including a 34% increase in Measured & Indicated Mineral Resources, graduation to the Toronto Stock Exchange, completion of an Impact Benefit Agreement with Biigtigong Nishnaabeg, and three consecutive years without a lost-time injury. The progress we have made during the first half of 2026 reinforces our confidence in the significant long-term value creation opportunity at Hemlo." Second Quarter Highlights: Financial Highlights Revenue for the three months ended June 30, 2026 was $142.5 million, mainly from 32,425 gold ounces sold at an average realized price 1 of $4,467 per ounce. Revenue for the six months ended June 30, 2026 was $328.8 million mainly from 71,110 gold ounces sold at an average realized price 1 of $4,710 per ounce. Net income for the three months ended June 30, 2026 was $31.0 million, or $0.10 per share, and adjusted net income 1 was $27.3 million, or $0.09 per share 1 . Net income for the six months ended June 30, 2026 was $53.1 million, or $0.18 per share, and adjusted net income 1 was $76.0 million, or $0.26 per share 1 . Earnings before interest, taxes, depreciation and amortization ("EBITDA") 1 for the three months ended June 30, 2026 was $77.2 million. EBITDA 1 for the six months ended June 30, 2026 was $163.8 million. Cash generated from operating activities for the three and six months ended June 30, 2026 was $35.6 million and $123.5 million, respectively. As at June 30, 2026, the Company held cash of $130.2 million. __________________ 1 This is a non-IFRS measure. For further information, refer to the "Non-IFRS Measures" section of this news release. Operating Highlights Attributable gold 2 production for the three and six months ended June 30, 2026 totalled 25,188 and 54,887 ounces of gold, respectively, at average recoveries of 94.3% and 95.0%, respectively. Attributable gold 2 sold for the three and six months ended June 30, 2026 totalled 27,858 and 59,910 ounces of gold, respectively, supplemented by finished goods at the beginning of each period. Cost of sales for the three and six months ended June 30, 2026 were $96.8 million and $210.0 million, respectively. Site attributable cash cost per ounce sold 3 for the three and six months ended June 30, 2026 was $1,880 and $1,615, respectively, and all-in sustaining cost ("AISC") per ounce sold 3 for the three and six months ended June 30, 2026 was $2,561 and $2,157, respectively. Continued strong safety and environmental performance in the second quarter, recording no environmental non-compliance and no lost-time injuries ("LTI") while achieving three consecutive years without a LTI. Strengthened operational metrics during the quarter, including development metres increased 42%, longhole production drilling rose 65%, total tonnes moved improved 5%, and ore milled increased 7% compared with the first quarter of ...