Slide 1: A Canadian Growth Story
adian Growth Story. Sedorate Presentation OCTOBER 2026 TSX: HMMC OTCQX: HMMCF | HEMLOMINING.COM
Slide 2: Cautionary Note & Legal Disclaimer
Cautionary Note & Legal Disclaimer Cautionary Note This presentation is dated October 2026 and is a presentation with respect to Hemlo Mining Corp. (the “Company”, “Hemlo Mining”, or “HMMC”) and is subject to change. This presentation does not constitute an offer to sell or a solicitation of an offe
Slide 3: Hemlo Mining: Corporate Overview
Hemlo Mining: Corporate Overview WHO WE ARE Canadian gold producer focused on operating and enhancing the Hemlo Gold Camp in northwestern Ontario. Our flagship asset, the Hemlo Gold Mine, has produced ~25 million ounces of gold since 1985 from both underground and open pit operations. OUR VISION To
Slide 4: Hemlo Mining: Investment Highlights
Hemlo Mining: Investment Highlights ✓ Iconic Asset: Hemlo is one of the most significant operations in Profitable Canadian gold mining history; 40+ year operating history Long-Life ✓ Scale & Consistency: long life asset with meaningful production Asset scale at competitive costs; 2025 attrib. produc
Slide 5: Hemlo Mining: Corporate Snapshot
Hemlo Mining: Corporate Snapshot Capitalization(1) Analyst Coverage Basic Market Capitalization ~C$1.6 billion Post Transaction Price Range C$3.00 - C$8.46 Kevin O’Halloran Jeremy Hoy Luke Bertozzi Cash Balance ~US$130 million Available RCF Capacity ~US$100 million Don DeMarco Ovais Habib Ralph Prof
Slide 6: Hemlo Gold Mine: Long-Lived Asset with Upside
Hemlo Gold Mine: Long-Lived Asset with Upside Iconic Canadian gold mine with 25 million ounces of gold production over a 40-year history Regional Map ▪ ~+1 Moz/yr peak production from 1985-2003 Greenstone Sugar Zone ONTARIO History ▪ ~18 Moz produced at ~$350/oz avg. gold price, 7 (Equinox) Marathon
Slide 7: Hemlo Gold Mine: Our Vision
Hemlo Gold Mine: Our Vision Parameter 2025 Technical Report Hemlo Mining Strategy Underground Ore ~3,800 tpd (in line with current rates) Staged increase to ~6,000 tpd Mining Rate Open Pit Production Start 2028 Optimal scope and timing to be evaluated Gold Price Assumption for $1,700/oz $2,100/oz Lo
Slide 8: Hemlo Gold Mine: Growth Strategy
Hemlo Gold Mine: Growth Strategy Growth expected to be driven by mining optimization, underutilized infrastructure, and near-mine exploration Illustrative Growth Pillar 1: Mill Throughput(1) Illustrative Growth Pillar 2: Resources & Reserves(2) Average Mill Throughput, tonnes per day (tpd) Measured
Slide 9: Hemlo Gold Mine: Mill Overview
Hemlo Gold Mine: Mill Overview Mill currently running at ~40% total capacity presents immediate opportunity to increase production Hemlo Mine Mill ▪ Operating at 40% capacity (~3,800 tpd) ▪ Opportunity to increase mill throughput to ~6,000 tpd without major upgrades Mill Capacity ▪ Total mill capaci
Slide 10: Hemlo Gold Mine: Underground Overview
Hemlo Gold Mine: Underground Overview Multiple mining fronts and extensive infrastructure support operational flexibility and future growth opportunities Underground Mining Fronts B-Zone: Established core mining area with extensive development, multiple active and future production fronts. C-Zone: K
Slide 11: Hemlo Gold Mine: Key Mining Opportunities
Hemlo Gold Mine: Key Mining Opportunities 1 Mining Sequence 2 Maximize Portal Haulage ▪ Bottom-up vs top-down to allow for better C-Zone Lower ▪ New E-Zone presents E-Zone material handling significant potential ▪ Drilling down-holes vs. up-holes to ▪ Multiple mining fronts improve stope performance
Slide 12: Hemlo Gold Mine: Reserves & Resources Overview
Hemlo Gold Mine: Reserves & Resources Overview 2026 Mineral Resource Estimate demonstrates increased continuity across the deposit Underground Reserves ($1,700/oz Gold Price) Resources Shapes ($2,500/oz Gold Price) (g/t) 4.37 3.72 3.53 3.03 3.03 2.58 Underground Resource M&I Sensitivity to Inferred
Slide 13: Hemlo Gold Mine: Reserves & Resources Growth Potential
Hemlo Gold Mine: Reserves & Resources Growth Potential Significant potential for mineralization outside current mineral resource estimate across entire known deposit LEGEND As-built 2026 Resources 2025 Reserves 15+ Au Grade x Thickness (High Prospectivity) Growth Observations • Mineral reserves loca
Slide 14: Hemlo Gold Mine: Exploration Program Overview
Hemlo Gold Mine: Exploration Program Overview 130,000 m drill program underway targeting growth, resource conversion, and high-definition drilling Hemlo Mine Longitudinal and Sections(2) Growth: 30,000 m Comparison of the 2025 and 2026 Resource Grade Shells; 2026 Growth Drilling • Targets areas near
Slide 15: Hemlo Gold Mine: Regional Exploration Targets
Hemlo Gold Mine: Regional Exploration Targets Long-term opportunity to transform the Hemlo Mine into a multi-kilometer district-scale system Beggs Lake ~44,500-hectare district-scale land package positioned along the Porphyry Lake • IRGS principal structural corridor of the world-class Hemlo Gold Ca
Slide 16: Key Objectives & Corporate Timeline
Key Objectives & Corporate Timeline 2026 H1 2026 H2 2027 TSX Graduation Hosted Site Tours Potential US Listing Corporate IBA Completion GDXJ Inclusion Future Index Inclusion Updated Mineral Reserves & Resources Resource Estimate Sector Evaluation, Definition Drilling and Updated Technical Report wit
Slide 17: Investment Highlights – Why Hemlo?
Investment Highlights – Why Hemlo? New chapter for one of the most significant operations in Canadian gold mining history; Iconic Asset Hemlo is a long-life asset with meaningful production scale and competitive costs Focused Execution-based strategy to optimize reserves, resources, mine and mill; p
Slide 18: Appendix
Appendix TSX: HMMC | OTCQX: HMMCF 18
Slide 19: Strategically Assembled Leadership Team
Strategically Assembled Leadership Team Jason Kosec, BScGeo, MEERL Perry Blanchard President, CEO & Director Vice President, Sustainability ~15 years of experience across exploration, development, production & capital markets; founder ~30 years of experience in health, safety and environmental manag
Slide 20: Experienced Board of Directors
Experienced Board of Directors Jonathan Awde Glenn Kumoi Executive Chair Director ~20 years of experience across capital markets, mineral exploration & development; former ~20 years of experience across mining, legal affairs & corporate governance; previously VP, President & CEO of Gold Standard Ven
Slide 21: H1 2026: Operating Results
H1 2026: Operating Results Operations in line with management expectations as strategic initiatives continue to gain momentum Operating Metrics(1) Q2 2026 Q1 2026 H1 2026 Operating Commentary Williams (100%) Unit • Safety: Strong quarterly performance; no environmental non- Ore processed 000t 283 23
Slide 22: H1 2026: Financial Results
H1 2026: Financial Results YTD results have demonstrated strong earnings, significant capital investment, and balance sheet improvement Q2 Revenue Q2 Net Income Q2 Adj. Net Income(1) Q2 Operating Cash Flow $142.5 $31.0 ($0.10) $27.3 ($0.09) $35.6 US$ million US$ million (/share) US$ million (/share)
Slide 23: Hemlo Gold Mine: Mining Optimization
Hemlo Gold Mine: Mining Optimization Several optimization studies underway aimed at increasing production rates and reducing costs Mining Stopes by Gold Price Grey: Mined Out (70% CRF) Purple: Reserves Stopes ($1,700/oz Gold Price) Green: Potential Additional Stopes ($2,100/oz Gold Price) ▪ Improved
Slide 24: Hemlo Gold Mine: 2026 Mineral Resource Estimate
Hemlo Gold Mine: 2026 Mineral Resource Estimate 34% growth in M&I resources (+1.2 Mozs Au) from 2025 to 2026 (100% basis) Comparison of 2025 and Updated 2026 Mineral Resource Shapes 2026 M&I and Inf. Mineral Resources; 2026 Conversion Drilling Key Observations: Growth reflects impact of increased go
Slide 25: Hemlo Gold Mine: B-Zone Footwall Target
Hemlo Gold Mine: B-Zone Footwall Target Sparsely drilled, near-surface, highly accessible target with strong continuity potential B-Zone ▪ The B-Zone has been the primary source of underground ore production for 20+ years ▪ Two mineralized domains: – B-Hanging Wall (“B-Main”) – B-Footwall ▪ Historic
Slide 26: Hemlo Gold Mine: Hemlo West Target
Hemlo Gold Mine: Hemlo West Target Poorly drilled corridor and possible western extension of the Hemlo Complex Key Observations: • Gold mineralization is primarily associated with pillowed mafic volcanics, feldspar porphyry intrusions, and the Lake Superior Shear Zone (Rous Lake Deformation Zone). U
Slide 27: Hemlo Gold Mine: Beggs Lake Target
Hemlo Gold Mine: Beggs Lake Target Newly identified porphyry intrusion estimated at ~3x the size of Hemlo and dated to the same age of 2,693 Ma Key Observations: • ~4,000 rock samples collected, with greater coverage in the eastern sector compared to the west • Gold distribution: Ultramafics • ~13%
Slide 28: Hemlo Gold Mine: Beggs Lake Target
Hemlo Gold Mine: Beggs Lake Target Strong spatial association with Mo, K and Au along the margins of the intrusions – same as Hemlo Au-Mo Spatial Association: • Strong spatial correlation between Au mineralization and elevated Mo concentrations, particularly along intrusion margins. • This associati
Slide 29: Hemlo Gold Mine: Technical Report Profile
Hemlo Gold Mine: Technical Report Profile(1)(2) ▪ Steady state underground mining rate at ~3,800 tpd Attributable Production & AISC(3)(4)(5) from 2025 to 2032 koz Au | $/oz Au Underground Production Open Pit Production AISC ▪ Incremental open pit production starting in 2028E $1,707 $1,717 $1,685 – H
Slide 30: Mineral Reserves: Effective December 31, 2024
Mineral Reserves: Effective December 31, 2024* Proven Reserves Probable Reserves Total Proven & Probable Reserves As of December 31, 2024 Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained (kt) (g/t Au) (koz Au) (kt) (g/t Au) (koz Au) (kt) (g/t Au) (koz Au) Open Pit Total - - -
Slide 31: Mineral Resources: Effective December 31, 2025
Mineral Resources: Effective December 31, 2025* Measured Resources Indicated Resources Measured & Indicated Resources Inferred Resources As of December 31, 2025 Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained (kt) (g/t Au) (koz Au) (kt) (g/t Au) (koz A
Slide 32: Notes to Mineral Reserves & Mineral Resources
Notes to Mineral Reserves & Mineral Resources: (a) notes to Mineral Reserves: ▪ The Hemlo Mineral Reserve estimate follows the CIM (2019) MRMR Best Practice Guidelines. ▪ These Mineral Reserves have been diluted based on site geotechnical recommendations and have had a mining recovery applied. ▪ The
Slide 33: Contact
Contact General Inquiries info@hemlomining.com Head Office 390 Bay Street, Suite 1720, Toronto, ON M5H 2Y2 Site Office ON-17, Marathon, ON P0T 2E0