Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (April 2024)
30 slides from Hycroft Mining's investor presentation, Apr 5, 2024
Slide 1: Corporate Presentation April 2024
va Ne HYCROFT: asoac | Hyuic Developing One Of North America’s Largest Precious Metals Deposits Corporate Presentation APRIL 2024 Gra
Slide 2: Disclaimer
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Slide 3: World's Largest
i) World's Largest One of the world's largest precious metals deposits Excellent Location Located in Nevada, the best place in the world for mining ° a Q Significant Upside Large, under-explored land package with significant exploration upside First Principles Approach Applying a first principles ap
Slide 4: Gold and Silver: The Original Stores of Value
Gold and Silver: The Original Stores of Value Fwy Invest in Sv = The original safe-haven asset * Historically used as a store of value ® Long-term store of value = Dual role as a precious and industrial metal (~50/50) * Hedge against inflation ® Second most-used commodity (oil is first) * Preservati
Slide 5: Strong Gold and Silver Resources
Strong Gold AND Silver Resources , OU HYCROFT
Slide 6: The Team: Mine Finders and Mine Builders
The Team: 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 FION
Slide 7: The Hycroft Mine: A World-Class Asset
The Hycroft Mine: A World-Class Asset = 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 mines ® Permitted for heap leach and milling operations* = Extensive infrastructure on-s
Slide 8: Strategy For Growth
Strategy For Growth Strengthening the resource = Extensive drill program improving grade and ‘overall economi = Upgrading resources from Inferred to M&l and converting waste to ore Completion of technical study results for milling operation ducting trade off studies to ensure optimal plan for maximi
Slide 9: Strategy In Action
Strategy In Action Moving Hycroft Up the Value Chain I New management has | Metallurgical studies Initiated First principles approach | Raised a substantial significantly improved _| significantly improved largest exploration to exploration resulting in| amount of capital creating safety and communi
Slide 10: Exploration
Exploration — Legend —_, [ay 2022 Resource Pit Outine HYCROFT " Applying “first principles” approach to uncover new opportunities — Hyco ia Boundary ReSouIce PR in under-explored areas of our land package 1 Historie Rosebud mine HeomeAipess = Step-out exploration driling to find the high-grade feede
Slide 11: Hycroft's New High-Grade Silver Discovery
Hycroft’s New High-Grade Silver Discovery Hycroft Mining Finds Hycroft Drills Best Hycroft Delivers More Elevated Silver Across Hole Ever —- Discovers High-Grade — Expands the Hycroft System New High-Grade New Silver System in Phase 2 Drilling Silver System ‘ at Brimstone ‘ 23 Oct 2023 16 Nov 2023 0
Slide 12: New High-Grade Silver Discovery
New High-Grade Silver Discovery In late 2023, Hycroft announced the discovery of a new silver system at Brimstone as a result of applying a fresh perspective and following up on targets not previously tested. Highlights from the drilling include: = Results indicate the presence of more significant s
Slide 13: Drill Result Highlights
Drill Result Highlights c H23R-5753 * 2743 359.7 853 0.23 including 285.0 324.6 396 0.26 1,019.28 including 317.0 3216 46 0.56 4,974.00 H23R-5760 * 2240 355.4 1314 0.34 213.34 including 281.9 323.4 aA a7 635.91 including 294.4 3063, 122 0.48 1,854.25 H23R-6771 * 144.8 297.7 152.9 0.32 142.61 includi
Slide 14: Brimstone Core
Brimstone Core = Core from the Vortex-Brimstone trend: = Returned values of several hundred grams/tonne silver. = Including intervals in the several thousand grams/tonne silver (11,000 git Ag). = H23C-5790 returned 20 m of 869.9 git Ag and 0.40 git Au. = Including 7 m of 2,427.03 g/t Ag and 0.39 g/t
Slide 15: Two New Trends of High-Grade Silver
Two New Trends of High-Grade Silver = Evaluation of results from recent drilling reveals two new trends with continuous high-grade silver mineralization greater than 137 git, including areas of very high-grade silver (> 2000 git) in well-defined veins: = Anorthwest trend extending from Vortex to Cam
Slide 16: Open Along Strike
16 Open Along Strike HYCROFT
Slide 17: High-Priority Targets Outside Known Resource
High-Priority Targets Outside Known Resource ® Testing high priority exploration targets outside the currently known resource = Improving understanding of the mineralization controls for the Hycroft system and beyond * Developing opportunities to mine higher-grade ore early in the mine plan enhancin
Slide 18: Follow up discoveries and upcoming work
18 Follo\ high discoveries with further drilling Finalize engineering and trade-off studies Review drill results from targets outside the known resource Ongoing drill results As: high-grade underground ario HYCROFT
Slide 19: Capitalization & Ownership
Capitalization & Ownership Capital Structure Ownership Summary® Share Price *—- HYMC (naspaq) $3.37 AMC Entertainment 9 52-Week range $1.63 - $5.78 24M | 12% Shares Outstanding ' 213M Erie Sprott 9 Fully Diluted ? 30.4M 18M | 9% Market Capitalization 1 $72M Institutional 9 Average Daily Volume * 198
Slide 20: Invest in a World-Class Asset and Team
Invest in a World-Class Asset and Team dictic One of the world’s largest gold and silver deposits in a Tier | Jurisdiction Transitioning to large scale mill operation with engineering studies underway Highly leveraged to gold and silver prices New high-grade silver discoveries represent a significan
Slide 21: For more information
HYCROFT mason | Hywc For more information Fiona Grant Leydier Vice President, Investor Relations fiona.grant@hycroftminina. +1 (775) 437-5912 x 101 hycroftmining.com
Slide 22: Appendix
HYCROF NASDAQ | HYMC Appendix hycroftmining.com ('
Slide 23: 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 24: Mineral Resources
Mineral Resources Heap Leach Resources Measured 0.07 | 85,424 0.274 8.12 2.14 753 16,725 Indicated 0.07 54,206 0.250 4.32 178 436 7,529 Inferred 0.07 41,838 0.2250 4.86 1.62 337 6,549 Flotation Mill + Concentrate Treatment by POX and Cyanide Leach Meaured 0.34 | 365,361 0.445 17.09 1.78 6,236 200,96
Slide 25: Resource Estimation Parameters
Resource Estimation Parameters Untofmessure | Vale Comminton Pertonoffeed tof plant $299 Gals pee Sicz 51.900 Frtaton Pertonoffeed tof plant $3.68 Svea ‘sce $2450 Process (ed costs) Porton cffeed to foatplant $051 ine Sosa a Lae, COD, Detox hed costs) Porton feed tofoatplant $0.43 Ss Tea i Cost Pec
Slide 26: Resources Overview
Resources Overview Resources SS ited Brimstone Vortex Indicates ‘
Slide 27: 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 28: Positive Metallurgical Flotation Results
Positive Metallurgical Flotation Results Flotation Gold and Silver Recoveries 1000 ae 759.9 950 900 350 2800 | Recovery values from 2023 Hycroft Technical Report* 750 700 pH=4.7 Grind Size <85u 24-minute Conditioning Mass Pull > 20% * Hycroft Property Initial Assessment Technical Report Summary with
Slide 29: Metallurgical Refinement
Metallurgical Refinement Adjusting process Estimated operating parameters: cost impact: 1.Decrease Particle Size Pgo $0.24 /tont 2.Decreasing Flotation pH $0.40 / ton2 3.Increasing Flotation $0.01 / ton? Conditioning Time $0.65/ton 2 Sich aster 4 Bisson yarn Proery ita aseabrat Technet Rept Gurmary
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