Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (October 2024)
46 slides from Hycroft Mining's investor presentation, Oct 30, 2024
Slide 1: Developing One Of North America's Largest Precious Metals Deposits
Van HYCROFT: soa | Hv Developing One Of North America’s Largest Precious Metals Deposits 4Q 2024 hycroftmining.com
Slide 2: Cautionary Note Regarding Forward-Looking Statements
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Slide 3: Key Investment Highlights
Key Investment Highlights Substantial Gold and Silver Resource in Tier 1 Jurisdiction New High-Grade Discovery + Exploration Upside Advancing Technical Studies for Milling Operations Strong Balance Sheet Board, Management and Technical Team with Proven Track Record Visible silver in core from Vortex
Slide 4: A World-Class Asset and Team
One of the world's largest gold and silver deposits in a Tier | Jurisdiction Completing engineering work for next phase of commercial operations New high-grade silver discovery represents a significant new value driver for the Hycroft Mine Award-winning safety record: Hycroft has maintained a TRIFR
Slide 5: Mine Finders and Mine Builders
Mine Finders and Mine Builders DIANE GARRETT PRESIDENT & CEO Formerly with Romarco Minerals, US Global Investors STAN RIDEOUT EXECUTIVE VICE PRESIDENT & CFO Formerly with Romarco Minerals, Phelps Dodge Corp. REBECCA JENNINGS SVP & GENERAL COUNSEL Formerly with Newmont, Allied Nevada DAVID THOMAS. SV
Slide 6: A Premier Mining Jurisdiction
A Premier Mining Jurisdiction = Nevada leads the nation with the largest mining program in lower 48 states = 23 active gold and silver mines = Strong ethic towards effective and successful reclamation projects = Favorable mining jurisdiction = Excellent infrastructure = Accessible labor / contractor
Slide 7: Among the world's largest precious metals deposits
Among the world’s largest precious metals deposits Heap leach operations (1980s to 2021) Adjacent to past producing high-grade Rosebud mine Extensive infrastructure on- site Permitted for heap leach and milling operations De-risked and ahead of other developers Large untapped district-scale land pac
Slide 8: Property Overview
Property Overview Hycroft Claims Jungo Road (Nevad ate Route 49) Historical Rosebud Mine Land package is over 64,000 acres OQ) Resource area comprises less than 10% of the land package Resource remains open in all directions and at depth Hycroft Claims Resource Area Claims not owned by Hycroft ‘50/5
Slide 9: Our Approach
Our Approach Targeting Hycroft’s high-grade feeder zone(s) Expand recent high- grade discovery Evaluate new potential underground opportunity Complete technical studies for sulfide milling operation Finalize Roaster vs POx process flow sheet 64,000-acre land package — only 10% explored Ongoing explo
Slide 10: Gold and Silver Resources
Gold and Silver Resources M&l Gold 10.6 » 0.401 gitAu iy Inferred Gold >) 0.389 3.4 Au *Source: Technical Report Summary, dated March 27, 2028. MMT ssonc : Hyuc | DEVELOPING ONE OF THE WORLD'S LARGEST PREGIOUS METALS DEPOSITS Total Silver Resources
Slide 11: Gold and Silver Resources
Gold and Silver Resources M&l Gold 15.2 » 0.578 gitAu ic Inferred Gold 2 4. 533 6 Au “Source: Technical Report Summary, dated March 27, 2023. Gold and Silver Equivalent is calculated at a gold-to-siver ratio of77.56:1 (based on $1900 gold and $24.50 silver) BTM ssonc : nyuc | DEVELOPING ONE OF THE W
Slide 12: Stores of Value
Stores of Value = The original safe-haven asset = Long-term store of value = Hedge against inflation = Preservation of wealth and portfolio diversification = Gold is a finite resource with growing demand * Central bank reserves are rising = Historically used as a store of value = Dual role as a prec
Slide 13: Focus for 2024
Focus for 2024 + Recognized Safety Performance + Sulfide Process Development + ESG + CAPEX/ OPEX * Mine Plan + Wildrose + Expanding the high-grade ROEST PRECIOUS METALS DEPOSITS HYCROFT 3 AQ: HYMC | DEVELOP NE OF Th
Slide 14: Our Accomplishments
Our Accomplishments Moving Hycroft Up the Value Chain a S Industry-leading Largest Exploration Game-changing High- Improved Flotation Strengthened Treasury Safety Record Program In +10 Years grade Silver Discovery Recoveries And Market Presence = Award-winning safety culture | * Improved grade and o
Slide 15: Recognized by the Nevada Mining Association two years in a row
Recognized by the Nevada Mining hsb Association two years in a row SAFETY AWARD. FIRST PLACE HYCROFT HYCROFT MINING OPERATOR ‘SAFETY AWARD FIRST PLACE ‘SURFACE-SMALL: HYCROFT RESOURCES & DEVELOPMENT HYCROFT MINE ae fein ny ll “alfa i 8 45 AQ: HYMC Lop NE OF THE WORLD'S LARGEST PRECIOUS METALS DEPOSI
Slide 16: TRIFR 0.00 and over 1.2 Million Incident Free Man-hours
TRIFR 0.00 and over 1.2 Million Incident Free Man-hours seph Prary (Environmental) Mining Association Climate Change Greenhouse gas (GHG) emissions Energy management Climate risks Water Management Waste Management Biodiversity “At Hycroft, we are committed to conducting our business in a manner that
Slide 17: Focus for 2024
Focus for 2024 HYCROFT
Slide 18: Metallurgical Refinement
Metallurgical Refinement Adjusting Process estimated t Parameters operand fos impact: 1.Decrease Particle Size Pgo $0.24 / ton" 2.Decreasing Flotation pH $0.40 / ton? 3. Increasing Flotation $0.01 / ton? Conditioning Time $0.65/ton Technical Report Summary with an etecthe dale of March 27, 2023, Res
Slide 19: Positive Metallurgical Results
Positive Metallurgical Results KEY HIGHLIGHTS Flotation Gold and Silver Recoveries = Statistically significant improvement in gold and silver recoveries Flotation Gold and Silver Recoveries * Statistical reduction in variability 1000 9 1 = Results are consistent and . 7.0 repeatable across: 95.0 Siv
Slide 20: Bridge to Technical Report
Bridge to Technical Report + PFS-FS + Construction + Production Technical Report © 2024 Drill Results with Economics (2H2025) © Benchtop Roaster Testing © _ Initial Mine Plan © Capital Equipment Selection © Operating Cost Assessment Y Site Layout Designs Y Tailing Storage Facility Y¥ Reagent Selecti
Slide 21: Focus for 2024
Focus for 2024 HYCROFT
Slide 22: Unlocking Higher Value
Unlocking Higher Value July to Dec 2024 Aprto June 2024 E tending high-grade zones Jan 2024 Understanding Nov 2023 Driling defines two mineralization controls" Vortex and Brimstone Best hole ever drilled in high-grade more than 30 yrs. silver trends Oct 2023 (Brimstone) Discover high-grade silver at
Slide 23: Bird's Eye View
Bird’s Eye View = Resource area comprises less than 10% of our land package = Resource remains open in all directions and at depth
Slide 24: High Grade Trends
High Grade Trends = New High-Grade Silver and Gold Mineralization Trends High-Grade mineralization remains open along trends and at depth Open Pit and Underground Optionality
Slide 25: Drill Highlights - Brimstone
Drill Highlights - Brimstone FROM To INTERV Location Hole ID (meters) (meters) (meters) Ag (ot) Au (git) ‘AUEQ (git) Brimstone _-H29R-5753 * 274.3 359.7 85.3 534.3 0.23 712 including 285.0 324.6 39.6 1,019.8 0.26 13.40 also including 317.0 321.6 46 49740 0.56 64.70 Brimstone _-H29R-5760 * 224.0 355.
Slide 26: Drill Highlights - Vortex
Drill Highlights - Vortex Location Vortex Vortex Vortex Vortex a Hole ID 1230-6001 * including including also including also including 240-6002 * including including 240-6005 ° including including including 240-6007 * including including FROM (meters) 383.2 451.7 498.2 498.2 504.6 357.3 440.4 441.9
Slide 27: Gold: Size, Scale, & Expansion
Gold: Size, Scale, & Expansion MM AU 04 git 2023 Resource Cone 1 etree Open NN, _ AX TOWER Open 5.3 KILOMETERS / 3.3 MILES « — Open in all directions and at depth tor ; HYCROFT
Slide 28: Silver: Size, Scale, & Expansion
Silver: Size, Scale, & Expansion HM AG50g 2023 Resource Cone EIFFEL — * pr 4 Open —~ - : ” Se ZA TOWER Open in all directions and at depth tor ; HYCROFT
Slide 29: Visible Silver in Core
Visible Silver in Core HD24_6010 from Brimstone 18.2 meters of 1,987.35 g/tAg 0.9m @ 10,289 g/t Ag ‘ 0.3m @ 20,280 g/t Ag
Slide 30: High Grade Trends (Brimstone)
High Grade Trends (Brimstone) O) Grade shell based on underground block model QO 10ft x 10ft x 10ft blocks AGEQ 133 g/t Me AUEO Lait
Slide 31: High Grade Trends (Vortex)
High Grade Trends (Vortex) Grade shell based on underground block model 10ft x 10ft x 10ft blocks AGEQ 133 g/t AUEQ L.7g/t HYCROFT
Slide 32: Open Along Strike and Depth
Open Along Strike and Depth 2023 Resource Cone West East : » Brimstone aasiineedc PPO ID, a eZ es Ep St Open my Camel pf ie 4 < bal Vortex 2. SG ME AG 70 g/t
Slide 33: Potential Underground Option
Potential Underground Option AGEQ 115 g/t 6 = AUEQ 1.5g/t
Slide 34: Focus for 2024
Focus for 2024 HYCROFT
Slide 35: Potential High-grade Extensions
Potential High-grade Extensions Brimstone \ * Wild rose a
Slide 36: Setting our sites on 2025
Setting our sites on 2025
Slide 37: 2025 Deliverables
2025 Deliverables
Slide 38: Path to Stakeholder Value
Path to Stakeholder Value in Initial Assessment Operating Mine Share Tipping point when Ore extraction Price uttimate size, mine generates cash flow Value economies and overshoot results Project Definition Discovery andl Technical and Resource Definition economic studies Drill results provide specif
Slide 39: Capitalization & Ownership
Capitalization & Ownership Capital Structure Ownership Summary AMC Entertainment 2.3M | 10% Share Price ‘— HYMCnaspaq) $2.65 52-Week range $1.63 - $4.65 Eric Sprott 1.8M | 8% Shares Outstanding * 24.1M Includes: Fully Diluted 2 33.9M Institutional x Managemen 1.6M | 7% 4. Susquehanna Market Capitali
Slide 40: Debt Overview
Debt Overview Senior Secured Held By Sprott Resource Lending Corp. Face Value $15M Interest Rate 11.6% Maturity Date May 31, 2027 Subordinated Notes Mudrick, Whitebox Advisors, Highbridge Capital, Aristeia Capital $110M 10% December 1, 2027 Notes: ® Sprott debt interest rate: SOFR+0.26161%" 6¥e = Su
Slide 41: For more information
re N | NASDAQ | HYMC HYCROFT For more information info@hycroftmining. hycroftmining.com
Slide 42: Appendix
Fa Ne HYCROFT | NASDAQ | HYMC Appendix hycroftmining.com
Slide 43: Board of Directors
Board of Directors STEPHEN LANG CHAIRMAN & DIRECTOR Formerly with Centerra Gold Inc., Stillwater Mining Company, Barrick Goldstrike, Rio Algom Ltd, Kinross Gold/Amax Gold, Santa Fe Pacific Gold DAVID NACCARATI DIRECTOR Independent consultant; formerly with Cupric Canyon Capital, LLC, Phelps Dodge Co
Slide 44: Mineral Resources
Mineral Resources ‘Approximate Sulfide Cutoff, Equiv | Ktonnes us Gold gr Heap Leach Resources Measured 0.07 85,424 0.274 5.72 2.14 753 15,725 Indicated 0.07 84,206 0.250 4.32 1.78 7,529 Inferred 0.07 41,838 337 6,549 Flotation Mill + Concentrate Treatment by POX and Cyanide Leach Measured 0.34 365,
Slide 45: Resource Estimation Parameters
Resource Estimation Parameters Unit of measure Value Gold price Sioz $1,900 Siver price Sloz $24.50 Mining cost, base* Per ton material moved, $1.45 Mill Process Recoveries: Flotation recovery ~ gold % of AUFA 80.0% Flotation recovery —siver % of AGFA 80.0% Flotation recovery ~ sulfide % of sulfide
Slide 46: Metallurgical Results
Metallurgical Results Purpose = Identify flotation operating parameters to maximize gold and silver recovery using over 200 selected drill hole samples that are representative of multiple mining stages through the Hycroft ore body. Program = 219 Variability Samples, including 30 duplicate and 15 tri
Hycroft Mining Holding — Investor Presentation (October 2024) on 6ix