Hycroft Mining (HYMC) Corporate presentation summary

Investment thesis and scale

• District-scale Nevada asset spanning 64,000+ acres, with less than 15% explored; described as among the world’s largest gold and silver deposits.

• Nevada is ranked #1 in the Fraser Institute’s 2025 Investment Attractiveness Survey; the state has 40+ operating gold mines and 100+ active mining operations across minerals.

• As of Sept. 30, 2026, cash was $211M with no debt; institutional and insider ownership was 84% as estimated from Nasdaq data.

• At Oct. 19, 2026, market cap was $1.6B; the presentation compares it with $4.3B post-tax NPV at base metal prices and $10.0B at spot prices.

Resources and exploration

• Jan. 2026 MRE reports 1.793B oz AgEq and 23.9M oz AuEq in measured and indicated resources; inferred resources total 510M oz AgEq and 6.8M oz AuEq.

• Brimstone and Vortex high-grade silver-bearing domains contain 90.2 Moz silver and 299 Koz gold M&I; inferred domains contain 13.3 Moz silver and 51 Koz gold.

• Brimstone and Vortex remain open along strike and at depth; drilling targets extensions, district-scale prospects including Wildrose and Manganese, and mine-plan inputs.

• Two core rigs and one RC rig were on site, with two additional rigs planned in coming months; less than 15% of the roughly 64,000-acre package has been explored.

Development pathways

• Three routes are under evaluation: restart heap-leach processing, advance high-grade underground mining, or develop open-pit mining and processing; a hybrid option would combine underground and open-pit production.

• Underground concept uses two independent declines and simultaneous Brimstone-Vortex development; long-hole open stoping and selective cut-and-fill are proposed.

• Underground declines could support exploration and production, improving drill efficiency and access to high-grade systems.

• Open-pit sulfide processing is based on a POX PEA; roasting is being assessed as an alternative that could add sulfuric acid as a third revenue stream.

• Heap-leach restart timing is being assessed using RC drilling and historical leach material; existing North/Jungo and Brimstone pads are available.