corporate presentation

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# corporate presentation

Source: https://www.hemlomining.com/_resources/presentations/corporate-presentation.pdf?v=0.071
Fetched: 2026-09-12T07:03:00.687+00:00
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## Content

# corporate presentation
A New Canadian Gold Producer
Cautionary Note & Legal Disclaimer
Cautionary Note
This presentation is dated September 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 to buy any securities. This presentation and its contents are not, and readers should not treat them, as advice relating to legal, taxation or investment matters. Readers of the presentation must consult their own professional
advisers.
All figures throughout this presentation are presented in US dollars unless otherwise indicated.
Forward-Looking Statements
This presentation contains “forward-looking statements” within the meaning of U.S. securities legislation and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements
regarding: the Company's vision; potential fleet upgrades; potential ramp-up of production; future gold prices; the future exploration, development and improved operations of the Hemlo Mine, including mine and infrastructure optimization measures; the publication of a new technical report; potential
increases in mineral resources and mineral reserves; potential conversion of inferred mineral resources to measured or indicated mineral resources; the transition services agreement; a potential listing in the United States; potential index inclusion; and the timing and results of various related activities.
The Company does not intend to and does not assume any obligation to update forward-looking statements or information other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, level of activity, production levels, performance, or achievements, and its operations to be materially different from those expressed or implied by
such forward-looking statements. Such factors include but are not limited to changes in production and costs guidance; the timing of, and ability to obtain, regulatory approvals; the process and outcome of consultation with Indigenous groups; the ongoing effects of inflation and supply chain issues on
mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and the USA, including tariffs; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining
activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; compliance with financing facilities and agreements; as well as those factors described in the section “Financial
Instruments Risk Management” contained in the Company’s most recent audited annual financial statements and in the section "Risk Factors" contained in the Company's most recent annual information form, each as filed with Canadian securities regulatory authorities and available on SEDAR+
(www.sedarplus.ca) under the Company's issuer profile.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to no material adverse change in the market price of commodities; forecasted Hemlo Mine economics; forecasted capacity and production estimates for the Hemlo Mine; the reliability
of mineral resource and reserve estimates; and that the operational improvements and synergies will be achieved as expected by management; and such other assumptions and factors as set out herein.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, other factors may cause results to be materially different from those anticipated, described, estimated, assessed, or
intended. There can be no assurance that any forward-looking statements or information will be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking
statements or information.
Cautionary Note to U.S. Investors Concerning Estimates of Mineral Reserves and Measured, Indicated and Inferred Mineral Resources
The information in this presentation has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ in certain material respects from the disclosure requirements promulgated by the SEC. For example, the terms “mineral reserve”, “proven mineral reserve”,
“probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are Canadian mining terms as defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and the CIM
Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council, as amended. These definitions differ from the definitions in the disclosure requirements promulgated by the SEC under the U.S. Securities Act. Accordingly,
information contained in this presentation may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.
Cautionary Note to U.S. Investors Concerning the Presentation of Financial Information
The financial information included in this presentation has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”), which differ in certain material respects from U.S. generally accepted accounting principles (“U.S.
GAAP”). Such financial information is not intended to, and does not, comply with the financial reporting requirements of the SEC and has not been reconciled to U.S. GAAP. Prospective investors should conduct their own investigation and analysis of the business, data and transactions described herein.
Technical Information
Certain technical information contained in this presentation is based upon disclosure prepared by Raphael Dutaut, Ph.D, P.Geo., a “Qualified Person” as defined in NI 43-101. See the corresponding technical report entitled “NI 43-101 Technical Report Hemlo Mine, Ontario, Canada”, dated October 27,
2025 with an effective date of December 31, 2024 and available on SEDAR+ under the Company’s profile at www.sedarplus.ca (the “Hemlo Technical Report”) and the Company's press release dated June 25, 2026. Certain disclosure herein includes the results of an economic analysis of mineral
resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Non-IFRS Financial Measures
The Company has included certain performance measures (“Non-IFRS Financial Measures”) that are not defined under IFRS including: cash costs, all-in sustaining costs ("AISC"), average realized price, free cash flow, earnings before interest, taxes, depreciation and amortization ("EBITDA"), sustaining
capital expenditures, growth capital expenditures, adjusted net income and adjusted basic earnings per share. The Company believes that these Non-IFRS Financial Measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the
underlying performance of the Hemlo Mine.
The Non-IFRS Financial Measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS as an indicator of performance.
The Non-IFRS Financial Measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers with similar descriptions.
For further information regarding Non-IFRS Financial Measures, refer to the Company's management’s discussion and analysis for the three and six months ended June 30, 2026, available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca).
TSX: HMMC | OTCQX: HMMCF 2
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 create the next generation multi-asset Canadian gold mining
champion through disciplined execution, agility, owner alignment,
and an unrelenting commitment to long-term value creation for our
shareholders and the communities in which we operate.
CORE VALUES
Owner Value
Resilience Performance Agility Discipline Zero Harm
Mentality Creation
TSX: HMMC | OTCQX: HMMCF 3
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; 2025 attrib. production of 121koz Au(1)
✓ Fit-for-Purpose Strategy: focused on optimizing reserves &
Clear resources, mine, and mill
Path to ✓ Underutilized Infrastructure: ability to meaningfully increase
Unlock production with limited near-term investment
Value ✓ Exploration Upside: numerous near-mine opportunities and
large historically underexplored land package
Strong ✓ Hand Picked Leadership Team: Extensive technical, financial,
Team & and capital markets experience
Financial ✓ Supportive Shareholders: significant insider ownership; majority
Support of shares held by large, long-only, institutional investors
(1) Attributable basis (i.e. net of the amounts attributable to Franco-Nevada’s 50% net profit interest on the Interlake claims)
(2) Refer to NI 43-101 technical report titled: “NI 43-101 Technical Report Hemlo Mine, Ontario, Canada”, dated October 27, 2025 with an effective date of December 31, 2024, available under Hemlo Mining’s SEDAR+ profile at www.sedarplus.ca
TSX: HMMC | OTCQX: HMMCF 4
Corporate Snapshot
Capitalization(1) Analyst Coverage
Basic Market Capitalization ~C$2.4 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 Profiti
Long Term Debt US$150 million
Basic Shares Outstanding 296.4 million
Fully Diluted Shares Outstanding 309.3 million Steven Green Simon Wildsmith
Approx. Ownership Breakdown(2)
Institutional & HNW 5% 5% Top Institutional Shareholders
7%
Retail & Other
8%
Orion
Wheaton
Management & Board
75%
(1) Share figures as of September 2026; balance sheet figures as at June 30, 2026; for further information, refer to Hemlo's unaudited interim condensed consolidated financial statements and management’s discussion and analysis as at and for the three and six
months ended June 30, 2026, available on the Company’s website at www.hemlomining.com and under the Company’s profile on SEDAR+ at www.sedarplus.ca
(2) Ownership estimates as of September 2026; based on publicly available data.
TSX: HMMC | OTCQX: HMMCF 5
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

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