Slide 1: A New Canadian Gold Producer
ae \ Ne Canadian Gold Producer Zs Mens Presentation AUGUST 2026 TSX: HMMC OTCQX: HMMCF | HEMLOMINING.COM
Slide 2: Cautionary Note & Legal Disclaimer
Cautionary Note & Legal Disclaimer Cautionary Note This presentation is dated August 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 offer
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: A New Canadian Gold Producer: Investment Highlights
A New Canadian Gold Producer: 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; 202
Slide 5: Hemlo Gold Mine: A New Chapter
Hemlo Gold Mine: A New Chapter 2025 H1 2026 Achievements 40+ year operating track record New Chapter: Royalty buyback on David Bell property Hemlo Mining Corp. ~25 million ounces of gold produced Hemlo acquired for ~US$1B: Initiated 130km drill program - US$542M equity raised - US$250 debt raise
Slide 6: Strategically Assembled Leadership
Strategically Assembled Leadership 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 management
Slide 7: Corporate Snapshot
Corporate Snapshot Capitalization(1) Analyst Coverage Basic Market Capitalization ~C$2.0 billion Post Transaction Price Range C$3.00 - C$8.05 Kevin O’Halloran Jeremy Hoy Luke Bertozzi Cash Balance ~US$130 million Available RCF Capacity ~US$100 million Don DeMarco Ovais Habib Ralph Profiti Long Term
Slide 8: Hemlo Gold Mine: Long-Lived Asset with Upside
Hemlo Gold Mine: Long-Lived Asset with Upside Regional Map ▪ ~25 Moz of gold production over 40-year history Greenstone Sugar Zone ONTARIO ▪ +1 Moz/yr production from 1985-2003 (Equinox) (Vault Minerals) History ~100km Marathon ▪ ~18 Moz produced at ~$350/oz avg. gold price, 7 (Generation Mining) Mo
Slide 9: Hemlo Gold Mine: Our Vision
Hemlo Gold Mine: Our Vision Parameter 2025 Technical Report Hemlo Mining Business Case Underground Ore ~3,800 tpd (in line with current rates) Staged increase over 2-3 years to ~6,000 tpd Mining Rate Open Pit Production Start 2028 Optimal scope and timing to be evaluated Gold Price Assumption for $1
Slide 10: Hemlo Gold Mine: Optimization & Growth Strategy
Hemlo Gold Mine: Optimization & Growth Strategy 1 2 Reserve & Resource Optimization Mine Optimization ▪ 34% growth to M&I and 39% growth to Inferred resources ▪ Refined sequencing – mine complete sectors in 2026 resource update ▪ Increase production rate to reach hoisting capacity; ▪ Historically ex
Slide 11: Reserve and Resource Optimization
1 Reserve and Resource Optimization 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 2,832 793 3
Slide 12: Mining Optimization
2 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 mining sequenc
Slide 13: Underground Infrastructure Optimization
3 Underground Infrastructure Optimization Significantly underutilized underground infrastructure ▪ Use of new ramp from the pit to access and accelerate mining of upper C-zone Optimization ▪ New ore haulage route (lower C- to B-zones) Overview ▪ Leverage underutilized hoisting capacity (~60% utiliza
Slide 14: Mill Optimization
3 Mill Optimization Mill currently running at ~40% capacity with immediate opportunity to increase production Hemlo Mine Mill ▪ Operating at 40% capacity (~3,800 tpd) ▪ Opportunity to increase production rate to ~6,000 tpd without major upgrades or costs Mill Capacity ▪ Mill capacity of ~10,000 tpd
Slide 15: Exploration Program Overview
4 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 existing infra
Slide 16: Regional Exploration Targets
4 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 Camp • Hybrid IRG
Slide 17: Key Objectives & Corporate Timeline
Key Objectives & Corporate Timeline 2026 H1 2026 H2 2027 TSX Graduation Potential US Listing Corporate IBA Completed Host Site Tours Potential Index Inclusion Optimization Updated Mineral Resource Estimate R&R Sector Evaluation, Definition Drilling and Updated Technical Report with Potential for Inc
Slide 18: 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 19: Appendix
Appendix TSX: HMMC | OTCQX: HMMCF 19
Slide 20: Q2 2026: Operating Results
Q2 2026: Operating Results Operations in line with management expectations as strategic initiatives continue to gain momentum Operating Metrics(1) Q2 2026 Q1 2026 YTD 2026 Operating Commentary Williams (100%) Unit • Safety: Strong quarterly performance; no environmental non- Ore processed 000t 283 2
Slide 21: Q2 2026: Financial Results
Q2 2026: Financial Results Q2 2026 yielded strong earnings and showed a continued improvement to the balance sheet Revenue Net Income Adj. Net Income(1) Cash Net Debt(1) $142.5 $31.0 ($0.10) $27.3 ($0.09) $130.2 $19.8 US$ million US$ million (/share) US$ million (/share) US$ million US$ million Fina
Slide 22: Mineral Resources: 2026 Update
Mineral Resources: 2026 Update 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 gold prices, Key Ob
Slide 23: B-Zone Footwall Target: Undrilled Upside
B-Zone Footwall Target: Undrilled Upside 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 ▪ Histori
Slide 24: Technical Report Production & Cash Flow Profile
Technical Report Production & Cash Flow 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 $1,6
Slide 25: Hemlo Gold Mine: Site Layout
Hemlo Gold Mine: Site Layout EAST WASTE ROCK PILE WBS 4101 FUEL TANKS FARM WBS 1502 CRUSHER BUILDING WBS 1604 OPEN PIT SHOP AND WASH BAY WBS 1405 TRANSFORMER WBS 1505 PIT WASH BAY OFFICE CONVEYOR COMPLEX SCREENING BUILDING 84 B-ZONE NO.3 BUILDING 82 PLANT VENT RAISE WBS 1602 WBS 1301 SECURITY B-ZONE
Slide 26: 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 - - - 2
Slide 27: 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 Au
Slide 28: Notes to Mineral Reserves and Mineral Resources Tables
Notes to Mineral Reserves and Mineral Resources Tables: (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 appli
Slide 29: 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