Hycroft Mining Engages Engineering Firm to Assess Underground Mining Options

About this update from Hycroft Mining Holding Corporation

Project Update Inclusion in VanEck GDXJ ETF WINNEMUCCA, Nev., April 21, 2026 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") is pleased to announce an update on its exploration activities at the Hycroft mine, located in Nevada, USA, a Tier 1 mining jurisdiction. Underground Mining Option on Brimstone and Vortex The Company has engaged RESPEC Company LLC ("RESPEC") to review underground mining options for the recently discovered high-grade silver systems at Brimstone and Vortex. RESPEC will collaborate closely with Hycroft's technical team, utilizing all data from work completed to date. The scope of work includes evaluation of mining methods, conceptual mine design, and schedule development, culminating in an internal report to the Company. In parallel, the Company is evaluating the development of an exploration decline to enable underground drill access. This initiative is expected to maximize drilling efficiencies while delivering savings in both time and cost. RESPEC's engineering work will determine the optimal portal location and appropriate decline dimensions, which could also support future production. This work represents an important step as Hycroft advances exploration and evaluates future development opportunities for the high-grade silver systems. Diane R. Garrett, President and Chief Executive Officer, commented: "The appointment of RESPEC will help us assess the potential to develop a decline giving us direct access to our new high-grade silver deposits. The Brimstone system in particular starts from only 30 meters beneath the existing open pit so a decline will allow us to consider an underground drilling program as well as give us early production options. We look forward to the findings of their engineering report in the coming months." Technical Report WestLand Engineering & Environmental Services, Inc. ("WestLand"), a Qualified Expert, has completed the engineering work associated with the additional lifts on the tailings storage facility ("TSF"). The additional TSF capacity is needed to accommodate additional tailing material as a result of the large increase in the Company's mineral resources that were announced earlier in February. With this work now completed, Ausenco Engineering South USA, Inc. ("Ausenco") can complete the Initial Assessment Technical Report with economics. The Com...

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