Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (November 2023)
30 slides from Hycroft Mining's investor presentation, Nov 28, 2023
Slide 1: Developing One of North America's Largest Precious Metals Deposits
HYCROFT NASDAQ: HYMC DEVELOPING ONE OF NORTH AMERICA’S LARGEST PRECIOUS METALS DEPOSITS November 2023
Slide 2: Disclaimer
Slide 3: Investment highlights
HYCROFT & R F One of the world’s Located in Nevada, the Well-funded with Large, under-explored —_Leadership team with Applying a first largest precious metals best place inthe world $107 Minthetreasury _land package with track record of principles approach to deposits for mining? significant explora
Slide 4: Why Invest in Gold
Why Invest in Gold + The original safe-haven asset * Long-term store of value + Hedge against inflation + Preservation of wealth and portfolio diversification + Goldis a finite resource with growing demand * Central bank reserves are rising + Historically used as a store of value * Dual role as a pr
Slide 5: Management team
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, VP & General Manager Formerly
Slide 6: One of the world's largest precious metals deposits
One of the world’s largest precious metals deposits Historic mine with past production dating back to 1980s Positioned between historic, high-grade Sleeper and Rosebud gold mines Permitted for heap leach and milling operations Extensive infrastructure on-site De-risked and way ahead of other develop
Slide 7: Strategy and exploration plan
HYCROFT rm Extensive drill program improving grade and overall economics Upgrading resources from inferred to M& ii / Optimizing metallurgical results for milling operation Conducting trade off studies to ensure optimal plan for maximizing value ++64,000-acre land package — only 10% explored Explori
Slide 8: Strategy in Action
tegy in Action New management has significantly improved safety and community profile + Award-winning safety culture and standards + Trailing 12-month TRIFR: ZERO | National industry average: 2.173, + Achieved 1M man-hours with ZERO TRIFR in June 2023 + Strengthened relationships in the community an
Slide 9: Exploration – Taking a Fresh View
— - A. Exploration —alakinga Fresh View * Applying “first principles” approach to uncover new opportunities in under-explored areas of our land package + Step-out exploration drilling to find the high-grade feeder zone(s) * Utilizing technologies such as hyperspectral and induced polarization, we ar
Slide 10: Phase 1 Drill Program Results
HYCROFT ase 1 Drill Program Results Discovered gold and silver grades higher than average resource grade Established continuity between higher-grade zones + Extended mineralization 150 meters to the east of known resource boundary * Drilling in Vortex delivered very high-grade silver over long inter
Slide 11: Drilling Within Known Resource
Drilling WithinsGnownsResource HYCROFT SS Resources ee [Eh Measured Brimstone [Bi rescates [i riered Upgrading Inferred to M&l resources Drilling to convert waste to ore Improving the understanding of the higher-grade intercepts
Slide 12: Improving understanding of the mineralization controls
Improving understanding of the mineralization controls for the Hycroft system and beyond Testing high priority exploration targets outside the currently known resource Developing opportunities to mine higher-grade ore early in the mine plan enhancing the project's economics Unearthing untapped poten
Slide 13: Exploration news timeline and drill highlights
HYCROFT JULY FEBRUARY OCTOBER NOVEMBER 18, 2022 7, 2023 23, 2023 16, 2023 e e e @ Hycroft Launches Hycroft Drills 55 Meters Hycroft Mining Finds Hycroft Drills Best Hole Largest Exploration of 396.93 g/t Silver in Elevated Silver Across the Ever - Discovers New Program in Nearlya Vortex Hycroft Syst
Slide 14: Upcoming Milestones
Upcoming Milestones © Demonstrating strong recoveries through metallurgical test work PREFEASIBILITY STUDY ing strong 8 i + Conducting trade-off studies * Complete drill program designed to convert inferred into M&l material * Develop optimal flow sheet for milling operation * Initiate PFS economics
Slide 15: Completed and ongoing milestones
HYCROFT COMPLETED ONGOING + PUBLISHED TECHNICAL REPORT + PHASE 2 EXPLORATION DRILLING + FINALIZE PRE-FEASIBILITY STUDY + INITIATED PHASE 2 DRILL ME FINALIZEIMETATLURGICATRTESTWORK + EVALUATE/IMPLEMENT STRATEGIC PROGRAM GROWTH OPPORTUNITIES + FINALIZE PROCESS FLOW SHEET
Slide 16: North American Precious Metals Developer Valuations
a". HYCROFT North American Precious Metals Developer Valuations sta Novagold (50%) 81,000 a seabtge 8 = seo = s si ng $ soo o Hi rp | s400 @ Perpeia 5200 Probe Metals , @..° ~ Resa Gold Walisdon ler Sold “Treasury Metals ) "CO Ore e@ 50 10.0 15.0 20.0 25.0 30.0 ‘ol equal bsed on ng term street conse
Slide 17: Capitalization and Ownership
= ——— —~\\. tion-and-Ownership Sar Capitali Ownership Summary Capital Structure ‘AMCEntertainment| 24M) 12% Share Price - YMC!- (NASDAQ) $2.16 Erie Sprott 18M 9% 52-Week High-Low $.63-$2.45 Other/Retail 160m) 79% enemy 202M Market Capitalization $43.6M 5-year Warrants issued 5/2020 - HYMCW 34M {exer
Slide 18: HYCROFT
HYCROFT
Slide 19: HYCROFT
HYCROFT
Slide 20: www.hycroftmining.com
HYCROFT NASDAQ: HYMC www.hycroftmining.com
Slide 21: Appendix
Appendix
Slide 22: 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 Diane Garrett, President & CEO Formerly with Romarco Minerals, US Global Investors Sean Goodman, AMC Boar
Slide 23: Mineral Resources
Mineral Resources Approximate cation Cutoff, Equiv Gold gm/t _Ktonnes _gm/tonne. Heap Leach Resource sulfide sulfur% Contained Ounces Gold Silver Ozsx 1000 Ozsx 1000 ‘Measured 0.07 85,424 0.274 5.72 2.14 753 (15,725 Indicated 0.07 54,206 0.250 432 178 436 7,529 Meas+ind 0.07 139,630 0.265 5.7 2.00 1
Slide 24: Total process costs
‘Source: Technical Report Summary, dated March 27, 2023. Lissa see Ai ou) ROM Leach (Transitional & Sulfide) [Per ton of feed to ROM Leach | = [= Total Process Costs (et avg sul sulfur Mill + Concentrate POX +GEA ‘Sfton ore flotation $1483 ROM leach + GBA (oxide) Shon tore tonomleach | $39 ROM leach
Slide 25: 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 tripli
Slide 26: Flotation Gold and Silver Recoveries
Flotation Gold and Silver Recoveries T* 9 Silver 95.0 4.7 100.0 98.9 7.0 94% 0.9 90.0 85.0 80.0 7 Recovery values from 2023 Hycroft Technical Report™ 75.0 740 70.0 pH=4.7 Grind Size<85u 24-minute Conditioning Mass Pull > 20% KEY HIGHLIGHTS Statistically significant improvement in gold and silver rec
Slide 27: Adjusting process parameters: estimated operating cost impact and result
Adjusting process parameters: Estimated operating Result: cost impact: 1. Decrease Particle Size Peg $0.24 / ton? Flotation gold recovery increased from 80%* to 85% - 93% A - 2 2. Decreasing Flotation pH $0.40 / ton Flotation silver recovery increased from 80%4 to 91% - 97% 3. Increasing Flotation $
Slide 28: Exploration Program
= HYCROFT Exploration Program Generalized Low Sulfidation Deposit Upper large low-grade mineralization. High-grade Au/Ag breccia zone. High-grade Au/Ag/Base Metal vein system Development Drilling 125,000 ft (RC & Core) Define high-grade intercepts Convert inferred model blocks to indicated Expand re
Slide 29: Hycroft Mine Oblique View
2000 Feet HYCROFT MINE OBLIQUE VIEW (0.010 Au opt Grade Shell) Looking Northeast PEN SQUTH
Slide 30: Mine Site
A. HYCROFT Mine:Site
Hycroft Mining Holding — Investor Presentation (November 2023) on 6ix