Hycroft Drill Program To Follow Up On High Grade Silver Discovery

WINNEMUCCA, NV - Diane R. Garrett, Hycroft Mining Holding Corporation, President & CEO, said, "We continued our safety and operational excellence focus in the quarter ended June 30, 2024, as we operated without a lost time accident and achieved a zero total recordable injury frequency rate for the 8th consecutive quarter. The metallurgical test and design work for a sulfide milling operation is advancing, and the exploration team continued to expand its understanding of the new high-grade silver system. Through the meticulous ground based technical work, the team has identified additional opportunities for high-grade silver and gold adjacent to the known resource.  Geophysics and structural interpretations have increased our understanding of the high-grade mineralization controls are guiding the expansion of the two trends along strike and at depth in addition to identifying new areas to explore. Our metallurgical, engineering, and exploration work and ongoing safety and operational excellence focus continue to move Hycroft up the value chain."

During the second quarter of 2024, the Company expanded the 2024 Drill program to follow up on the high-grade underground silver discovery announced in November 2023. The program was expanded to approximately 6,200 meters of core drilling, of which approximately 4,000 meters of drilling have been completed through June 30, 2024. The current program is targeted to define the structural framework of the two new high-grade silver trends and target those areas that have not been drilled to establish continuity of the two high-grade silver trends. Additionally, the Company completed Induced Polarity ("IP") geophysical surveys with results expected in the third quarter of 2024. The 2024 Drill Program and geophysical surveys will help with the Company's understanding of the structural controls observed in the two high-grade silver trends and potentially expand the Hycroft mineralization to the east in a previously unexplored area mostly within the current plan of operation.

Hycroft continued test work and trade-off studies necessary for designing a sulfide milling operation, while it also continued work to evaluate the potential to generate meaningful by-product revenues through roasting along with potentially co-generating "green" electricity as part of the process. Process plant flowsheets, equipment selection, plant layout, tailing storage facility, and other designs continued to be developed.