Hycroft Mining Holding Corporation · NASDAQ:HYMC
Hycroft Mining — Investor Presentation (March 2024)
28 slides from Hycroft Mining's investor presentation, Mar 14, 2024
Slide 1: Developing One Of North America's Largest Precious Metals Deposits
rau NN HYCROFT | NASDAQ | HYMC Developing One Of North America’s Largest Precious Metals Deposits Corporate Presentation MARCH 2024 A>.
Slide 2: Disclaimer
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Slide 3: World's Largest
World’s Largest One of the world's largest precious metals deposits asm Excellent Location FA Located Nevada, the best place in the world for mining ® Inferred AuEq Oz 4.6 M Significant Upside Large, under-explored land package with significant exploration upside First Principles Approach Applying a
Slide 4: Gold and Silver: Invest in Gold
Gold and Silver: y Invest in Gi = The original safe-haven asset * Longeterm store of value * Hedge against inflation ® Preservation of wealth and portfolio diversification © Gold isa finite resource with growing demand = Central bank reserves are rising Gold has outperformed other asset classes ‘sce
Slide 5: Strong Gold AND Silver Resources
Strong Gold AND Silver Resources &l Gold 0.401 git 1S METALS DEPOSITS
Slide 6: 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 Fr 23 Oct, 2023 Es 16 Nov. 202
Slide 7: The Team: Mine Finders and Mine Builders
The Team: Mine Finders and Mine Builders On-site Technical Team comprised of: Process Manager Chief Metallurgist Chief Mine Engineer Chief Geologist Director, Technical Studies DIANE GARRETT PRESIDENT & CEO Formerly with Romarco Minerals, US Global investors STAN RIDEOUT EXECUTIVE VICE PRESIDENT & C
Slide 8: The Hycroft Mine: A World-Class Asset
The Hycroft Mine: frend? A World-Class Asset Hycroft Mine hn & 4 & = One of the world’s largest precious metals deposits Se an = Historic mine with past production dating back to 1980s 5 % * Positioned between historic, high-grade Sleeper and Rosebud mines iLoi® = Permitted for heap leach and millin
Slide 9: Strategy For Growth
Strategy For Growth Strengthening the resource xtensive drill program improving grade and overall economics * Upgrading resources from Inferred to M&l and converting waste to ore Completion of prefeasibility study = Optimizing metallurgical results for milling operation * Conducting trade off studie
Slide 10: Strategy In Action
Strategy In Action Moving Hycroft Up the Value Chain Na gf 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 comm
Slide 11: Exploration — Taking a Fresh View
Exploration — N Taki Fresh V Legend Ty 2022 Resource Pit Outine HYCROFT = Applying “first principles” approach to uncover new opportunities — Hero Claim Boundary Resouici Pt: in under-explored areas of our land package 1 Historic Rosebud mine HeoneApiess © Step-out exploration drilling to find the h
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: 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 greater than 137 git, including areas of very high-grade silver (> 2000 git) in well-defined veins: © Anorthwest trend extending from Vortex to Camel (> 600 meter
Slide 14: Open Along Strike
cr Open Along Strike HYCROFT
Slide 15: Drill Result Highlights
Drill Result Highlights a om H23R-5753 * 274.3 359.7 85.3 0.23 534.29 including 285.0 324.6 30.6 0.26 1,019.28 including 317.0 321.6 46 0.58 4,974.00 H23R-5760 * 224.0 355.1 431.4 0.34 213.34 including 281.9 323.1 ata a7 635.91 including 294.4 308.3, 122 0.48 1,554.25 H23R-8771 * 144.8 297.7 1529 0.
Slide 16: High-Priority Targets Outside Known System
High-Priority Targets Outside Known syster ® 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 enhancing
Slide 17: Follow up on 2023 high-grade silver discoveries
ci Follow up on 2023 high-grade silver discoveries with further drilling Finalize engineering and trade off studies Review drill results Ongoing drill from targets results outside the known resource Review technical studies and development plans HYCROFT
Slide 18: Capitalization & Ownership
Capitalization & Ownership Capital Structure Ownership Summary Share Price’ — HYMC waspaa) $2.32 AMC Entertainment 24M | 12% 52-Week range $1.63 - $5.78 Shares Outstanding ? 21.0M Eric Sprott 94 Fully Diluted > 30.6 M 18M]. 2° Market Capitalization * $48M rom Institutional HYCROFT 1.6M | 8% Average
Slide 19: Invest in a World-Class Asset and Team
invest in a World-Class Asset and Team 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 significant new v
Slide 20: For more information
nS | NASDAQ | HYMC HYCROFT For more information Fiona Grant Leydier Vice President, Investor Relations fiona.grant@hycroftminins +1 (775) 437-5912 x 101 hycroftmining.com
Slide 21: Appendix
rau NS HYCROFT | NASDAQ | HYMC Appendix hycroftmining.com (
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 DAVID NACCARATI DIRECTOR Independent consultant; formerly with Cupric Canyon Capital, LLC, Phelps Dodge Cor
Slide 23: Mineral Resources
Mineral Resources Contained Ounces Gold Silver }000_| Ozs x 1000 ‘Approximate Gold Silver Sulfi Classifcation | Cutoff, Equiv cafe |leuteen | Gane Gold gmit Heap Leach Resources Measured 0.07 | 85,424 0.274 512 2.44 753, 15,725 Indicated 0.07 54,206 0.250 4.32 1.78 436 7,529 Inferred 0.07 41,838 0.2
Slide 24: Resource Estimation Parameters
Resource Estimation Parameters Sar ‘Total Mil Gost Perton of feed toflost plant $8.61 Mill Process Recoveries Parlon af faad w ROM Flotation recovery ~ gold % of AUF A 20.0% pore ee (ae Leach = Perton of fed to ROM ‘Mass pull % 14.0% Flotation Concentrate Treatment Cos **Source: Technical Report Sum
Slide 25: Resources Overview
Resources Overview Resources pe Brimstone Vortex
Slide 26: 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 trip
Slide 27: Positive Metallurgical Flotation Results
Positive Metallurgical Flotation Results Flotation Gold and Silver Recoveries 1000 _ 99.9 1 87.0 Silver 950 a7 29 93% 50.9 Gold 850 800 4 Recovery values from 2023 Hycroft Technical Report 750 700 pH=4.7 Grind Size <85u 24-minute Conditioning Mass Pull > 20% Hycroft Property niial Assessment Technic
Slide 28: Metallurgical Refinement
Metallurgical Refinement Adjusting process Estimated operating Results: parameters cost impact: Flotation gold recovery increased from 80%‘ to 85% - 93% 1. Decrease Particle Size Poy $0.24 / ton! VV Flotation silver recovery increased . from 80% to 91% - 97% 2. Decreasing Flotation pH $0.40 / ton? V
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