# Hycroft Delivers $10 Billion NPV from Technical Report at Spot Prices

Source Brief: https://evesgoldminers.com/research/source-briefs/hycroft-mining-hycroft-delivers-10-billion-npv-from-technical-report-at-spot-pric-60428c08
Original source: https://hycroftmining.com/wp-content/uploads/nr-20260602.pdf
EGM generated: 2026-09-27
Company: Hycroft Mining (HYMC)

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# Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company"), is pleased to announce the results from its S-K 1300 Technical Report Summary and Initial Assessment (the "TRS"), which outlines the economi

Source: https://hycroftmining.com/wp-content/uploads/nr-20260602.pdf
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## Content

# Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company"), is pleased to announce the results from its S-K 1300 Technical Report Summary and Initial Assessment (the "TRS"), which outlines the economics and mine plan for a milling operation utilizing conventional pressure oxidati
Hycroft Mining Holding Corp.
PO Box 3030
Winnemucca, NV 89446
NEWS RELEASE
Hycroft Delivers $10 Billion NPV from Technical Report at Spot Prices
While Advancing High-Grade Brimstone and Vortex Silver Discoveries
WINNEMUCCA, NV, June 2, 2026 – Hycroft Mining Holding Corporation (Nasdaq: HYMC) (“Hycroft” or “the
Company”), is pleased to announce the results from its S-K 1300 Technical Report Summary and Initial
Assessment (the “TRS”), which outlines the economics and mine plan for a milling operation utilizing
conventional pressure oxidation (“POX”) and heap leach processing at the Hycroft Mine in Nevada, USA.
All amounts are in US dollars, and all figures are presented in US customary units.
The TRS demonstrates that Hycroft hosts a large-scale, long-life precious metals project with compelling
economics and strong leverage to rising gold and silver prices, reinforcing its position as a multi-
generational, world-class asset in a Tier-1 jurisdiction. The TRS is being filed concurrently with the SEC on
EDGAR and is available on the Company’s website.
Basis of the Technical Report
• Base case commodity prices: $3,600 per ounce for gold and $48.00 per ounce for silver
• Spot prices(1): $4,569 per ounce of gold and $77.94 per ounce of silver
• Mine plan based on the 2026 Mineral Resource Estimate (16.4 million ounces of gold and 562.6
million ounces of silver Measured and Indicated)
• Inferred mineral resources of 5.0 million ounces of gold and 132.8 million ounces of silver are
not included in the mine plan and represent an upside to the TRS economics
• Drill results from the 2025-2026 exploration program are not included in the mine plan and
represents further upside
Highlights:
• Robust Economics Demonstrate the Scale and Value of the Hycroft Mine:
o Base Case Net Present Value at 5% (“NPV5”) of $5.4 billion (pre-tax) and $4.3 billion (post-tax)
o Internal Rate of Return (“IRR”) of 18.9% (pre-tax) and 16.9% (post-tax)
o NPV5 at spot prices of $10.0 billion and IRR of 30.1% (post-tax)
o Post-Tax Payback: 4.7 years at Base case prices and 2.9 years at spot prices
o Gross revenues: $54.2 billion at Base case prices
• Significant Leverage to Commodity Prices:
o For every $100 increase in gold price per ounce, the post-tax NPV5 increases by $300 million
o For every $5.00 increase in silver price per ounce, the post-tax NPV5 increases by $460 million
• Multi-Decade Production Profile at Meaningful Scale:
o 51 year mine life
o Average annual production:
▪ 204,000 ounces of gold
www.hycroftmining.com
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▪ 6.8 million ounces of silver
▪ 295,000 ounces gold equivalent(2) (“AuEq”)
o First 10 years deliver enhanced production averaging more than 330,000 ounces AuEq
o Life of Mine (“LOM”) production:
▪ 10.4 million ounces of gold
▪ 347.5 million ounces of silver
▪ 15.1 million ounces AuEq
• Conventional Plant Design, Layout and Processing:
o Proven POX processing technology
o Existing infrastructure on-site allows for reduced capital expenditures
o Plant designed to process 57,100 tons per day of mineralized material
o LOM average cash cost(3) of $1,924 per ounce AuEq and all-in sustaining cost (“AISC”)(4) of
$2,147 per ounce AuEq
o Initial capital costs: $2.4 billion and LOM sustaining capital costs of $3.1 billion
__________________________________
(1)
Spot prices for gold and silver as of May 25, 2026
(2) Silver is converted to AuEq using the ratio of $48.00/oz Ag to $3,600/oz Au
(3) Cash costs consist of mining costs, processing costs, mine-level G&A, and refining charges and royalties
(4) All-in sustaining costs includes cash costs plus sustaining capital and closure costs
Significant Upside and Optionality Remains:
• Potential mine plan upside opportunities include:
o Further drilling to reclassify waste and inferred gold and silver resources to measured and
indicated resources enabling integration into future mine plans
o Accelerated access to high-grade zones at Brimstone and Vortex early in the mine life
through targeted optimization
o Combining underground mine option alongside the open pit benefiting from large scale
production and bringing high-grade ounces forward earlier in the mine life
o New oxide targets have been identified for potential heap leach early in the mine life
o Extending mine life or expanding production by processing stockpiled low-grade mill feed
material within the current mine plan but not included in the economic analysis
• Current mineral resource comprises less than 15% of the +64,000-acre land position as the Hycroft
system remains open in all directions and at depth for future growth
o New exploration targets identified for potential resource expansion opportunities including
high-grade and oxide targets
o Significant drilling campaign underway with two core drill rigs at Brimstone and Vortex,
increasing to four core drill rigs over the next quarter to expand and define these two high-
grade systems that currently remain open in all directions and at depth
• Roasting test work is pending as an alternative processing option which could potentially enhance
project economics including potentially adding a meaningful third revenue stream from the by-
product production and sale of sulfuric acid, a strategically important industrial chemical
www.hycroftmining.com
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Diane R. Garrett, Executive Chairman and Chief Executive Officer, commented: “This Technical Study
confirms the scale, quality, and long-term potential of the Hycroft Mine. The project delivers strong
economics and significant leverage to rising gold and silver prices, reinforcing Hycroft’s position as one of
the sector’s most compelling large-scale development opportunities, located in a Tier 1 jurisdiction.
Importantly, we believe the most meaningful value creation opportunity remains ahead of us. By
advancing the high-grade Brimstone and Vortex silver systems, we see a clear path to further improving
project economics and unlocking additional value. The Hycroft land package remains a highly prospective
environment, and we believe we are only at the beginning of demonstrating its true potential.”
For additional context on the TRS, please visit our pre-recorded event with 6ix.
About Hycroft Mining Holding Corporation
Hycroft Mining Holding Corporation is a US-based gold and silver company exploring and developing the
Hycroft Mine, among the world’s largest precious metals deposits, located in northern Nevada, a Tier-1 mining
jurisdiction. Hycroft is engaged in a robust exploration drill program (2025-2026 exploration drill program) to
expand and advance the two new high-grade silver systems – Brimstone and Vortex. These discoveries
represent a significant value driver for the Hycroft Mine.
For further information, please contact:
E: info@hycroftmining.com
Investor Relations Phone: 775-245-0564
www.hycroftmining.com
Media: Tavistock, Jos Simson / Emily Moss
E: hycroft@tavistock.co.uk
Phone: +44 207 920 3150
Cautionary Statements Regarding the Initial Assessment and Mineral Resources
The Initial Assessment is a preliminary technical and economic study that indicates the economic potential of the
mineralization to support the disclosure of mineral resources at the Hycroft Mine. The Initial Assessment, however, does
not represent a feasibility study or a pre-feasibility and does not demonstrate economic viability nor does it support a
development decision, for which additional project planning and design are needed. As a result, Hycroft plans to
continue to estimate its resources at the Hycroft Mine and further develop the project economics.
As used in this news release, the terms “pre-feasibility study,” “feasibility study,” “initial assessment,” “mineral
reserve,” “mineral resource,” “measured mineral resource,” “indicated mineral resource” and “inferred mineral
resource”, as applicable, and other terms used herein are defined and used in accordance with S-K 1300.
The Initial Assessment also does not include the conversion of mineral resources to mineral reserves. Under subpart
1300 of Regulation S-K, mineral resources may not be classified as “mineral reserves” unless the determination has
been made by a QP that the mineral resources can be the basis of an economically viable project. Investors are
specifically cautioned not to assume that any part or all of the mineral deposits (including any mineral resources) in
these categories will ever be converted into mineral reserves, as defined by the SEC.
In addition, estimates of inferred mineral resources have too high of a degree of uncertainty as to their existence and
may not be converted to a mineral reserve. Therefore, investors are cautioned not to assume that all or any part of an
inferred mineral resource exists, that it can be the basis of an economically viable project, or that it will ever be upgraded
to a higher category. Likewise, investors are cautioned not to assume that all or any part of measured or indicated
mineral resources will ever be converted to mineral reserves.
www.hycroftmining.com
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Cautionary Note Regarding Forward-Looking Statements
Certain information set forth in this news release contains "forward-looking statements" and "forward-looking information" within
the meaning of applicable United States securities law (referred to herein as forward-looking statements). Forward-looking
statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", "believe", "expect",
"intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Except
for statements of historical fact, certain information contained herein constitutes forward-looking statements which includes,
but is not limited to, statements with respect to: the future financial or operating performance of the Company, the Hycroft Mine
and its mineral properties; results from work performed to date; the estimation of mineral resources and reserves; the realization
of mineral resource and reserve estimates; the development, operational and economic results of the PEA for the Hycroft Mine,
including cash flows, revenue potential, development, expenditures, and timing thereof, extraction rates, LOM projections and
cost estimates; timing of completion of a technical report summarizing the results of the PEA; magnitude or quality of mineral
deposits; anticipated advancement of the Project mine plan; exploration expenditures, costs and timing of the development of
new deposits; costs and timing of future exploration; permitting; construction and optimization planning; estimates of
metallurgical recovery rates; anticipated advancement of the Hycroft Mine, future prospects and prospective inclusion of mineral
resources in future mining activities; requirements for additional capital; the future price of metals; government regulation of
mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the
expected economics of the Project; future growth potential of the Project; and future development plans.
Forward-looking statements are based on a number of factors and assumptions made by management and considered
reasonable at the time such statement was made. Assumptions and factors include: the Company'

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