WINNEMUCCA, Nev., March 5, 2025 /PRNewswire/ — Hycroft Mining Maintaining Company (Nasdaq: HYMC) (“Hycroft” or the “Company”) declares 2024 complete 12 months effects and submitting of its Mode 10-Ok.

President’s Message

As valuable metals proceed their tough momentum in early 2025, we’re proud to mirror on Hycroft Mining’s remarkable 2024 achievements, culminating in our actual announcement of the most efficient drill hollow (Hollow 6018) within the Corporate’s greater than 40-year historical past – a phenomenal intercept of 21.2 meters of two,359.68 g/t silver, together with periods exceeding 6,000 g/t silver. This supersedes the prior highest hollow ever drilled (Hollow 5753), which returned over 85 meters of 534 g/t silver, together with over 39 meters of one,019 g/t silver. The 12 months 2024 can also be characterised as doing what our workforce does highest and has completed ahead of – developing worth by means of figuring out alternatives that weren’t explored by means of a number of predecessor homeowners of this distinctive asset. Our in depth efforts to totally perceive the genesis of this world-class asset delivered luck for the Corporate and our shareholders.

All the way through 2024, our exploration program constantly delivered finest effects, increasing our newly came upon two high-grade silver dominant traits at Vortex and Brimstone. The drilling marketing campaign produced important intercepts at Brimstone exceeding 1,000 g/t silver in various drill hollow intercepts. The 2024 drilling prolonged high-grade mineralization each up and ailing dip in addition to south alongside hit, and we prolonged Vortex mineralization roughly 100 meters to the west, encountering each high-grade silver and demanding gold values. Moreover, high-grade mineralization used to be prolonged alongside the northern and southern edges, and importantly, vertical endurance used to be established inside the Vortex zone. Our 9,058-meter drilling program has essentially modified the perception that Hycroft is a huge, low-grade gadget to at least one with important high-grade attainable. Because of the fast growth of the high-grade zones and persevered expansion alternatives residue not hidden in all instructions, the Corporate has been considering alternatives to build a smaller high-grade mining operation for the preliminary segment of sulfide mining. This is able to permit for much less preliminary capital, robust money flows early within the mine occasion, and total enhanced economics.

Our operational excellence earned business popularity, with Hycroft receiving the 2024 Operator Protection Award from the Nevada Mining Affiliation. We concluded the 12 months having completed over 1,500 days with no lost-time incident – a testomony to our workforce’s constancy to protection. We have now finished greater than two years with a 0 (0.00) overall recordable trauma frequency fee (“TRIFR”).

Any other important milestone used to be our inclusion within the Solactive International Silver Miners Overall Returns Index in Might 2024, expanding our visibility within the funding family. We maintained a powerful monetary place all the way through the 12 months, finishing with $49.6 million in unrestricted money nearest pre-paying $38.0 million of our first lien debt year additionally advancing our exploration and construction techniques.

2025 is anticipated to be a defining 12 months as we alike vital milestones – finishing the technical research for the later segment of operation and refining drill goals to proceed including worth to the Hycroft mine. With valuable metals appearing important power, Hycroft stands uniquely situated with its world-class Nevada asset. With lower than 10% of our 64,000+-acre attribute explored, our high-grade discoveries proceeding to enlarge, current infrastructure on-site and primary mining allows in hand, we’re smartly complex in comparison to alternative construction firms, and we’re desirous about the alternatives forward on this powerful valuable metals situation. 

The pristine control workforce used to be assembled within the Fall of 2020 and inherited a considerable debt burden that it has lowered by means of $101 million (major and money passion over the length). Alternatively, because the Corporate believes the residue debt with paid-in-kind passion is still an overhang at the Corporate’s proportion worth and the valuation of its property, it’s proceeding to discover a variety of strategic and fiscal choices to handle its steadiness sheet. Control and the holders of the subordinated notes, in addition to alternative third-parties, were and proceed to paintings carefully and collaboratively on a variety of choices for restructuring the debt and month investment necessities. Choices would possibly come with a restructuring of the Corporate’s debt duties, acquiring supplementary fairness financing, joint ventures, or merger and acquisition transactions. With admire to transactions of this nature, there can also be disagree contracts that this kind of transaction will happen or, if it does, the phrases and timing thereof. Specifically, the phrases of this kind of transaction is also dilutive to our current fairness holders and at costs beneath the Corporate’s flow proportion worth. The Corporate has now not eager any timetable for a selected transaction to handle the numerous quantity of debt on its steadiness sheet and does now not intend to reveal additional tendencies except and till its Board approves a particular motion. 

2024 HIGHLIGHTS

Company Highlights

• Protection: Hycroft has maintained a zero.00 TRIFR for over two years, working over 1.2 million guy hours with no Misplaced Day Incident. All over the 1/3 quarter, Hycroft used to be awarded the 2024 Operator Protection Award for tiny floor mines by means of the Nevada Mining Affiliation. Additionally in 2024, Hycroft used to be awarded the Mine Protection & Condition Management (MSHA) Certificates of Fulfillment in Protection.
• Environmental: Thru 2024, Hycroft maintained an impeccable environmental report and used to be identified as stewards of a success reclamation.
• Steadiness Sheet: The Corporate ended the 12 months with unrestricted money of $49.6 million and overall debt of $125.0 million. 

Operational Highlights

• Exploration: The 2024 drill program used to be introduced in February 2024 (the “2024 Drill Program”), to manufacture at the high-grade silver dominant traits recognized in overdue 2023. The target of the 2024 Drill Program used to be to outline the structural framework of those pristine traits, identify endurance and enlarge the Brimstone and Vortex traits, and establish pristine goal subjects of attainable high-grade. All targets have been a success, and the 2024 drill program used to be expanded all over the 12 months with 9,058 meters of drilling being finished as of December 31, 2024. Ultimate assays from 3 holes have been pending at year-end. Along with extending the high-grade silver traits up and down-dip, the technical workforce has recognized pristine goal subjects as attainable extensions of those silver traits. With lower than 10% of the Corporate’s land place explored, there may be super additional exploration attainable.
• Technical Research: All over the 12 months ended December 31, 2024, the Corporate complex the metallurgical and engineering paintings essential for designing a sulfide milling operation together with checking out composite samples from across the ore frame that constitute the diverse subject material traits within the sulfide ore, crushing, grinding, and flotation paintings which has recognized important enhancements in gold and silver flotation fixes in comparison to the flow technical record that build up the industrial advantages to the undertaking, figuring out the optimum inputs and working parameters for scorching, force oxidation, leaching, sulfuric acid era, and tool co-generation. All over 2024, the Corporate additionally finished the month tailing bank facility designs had to lengthen subject material bank capability and conform to protection and environmental laws for those amenities. Ultimate metallurgical testwork for scorching will probably be finished mid-year as a part of the trade-off research to evaluate whether or not scorching era may trade in superb economics in comparison to force oxidation (“POX”) era for the Hycroft Mine. Alternative technical paintings parts to be finished in 2025 come with procedure plant apparatus variety, plant line, H2O control, and alternative designs, with an expected technical record with economics being revealed in overdue 2025. Because of the possible important dozen of spinoff sulfuric acid anticipated to be generated from scorching the sulfide listen, the Corporate occupied a third-party specialist that finished a centered sulfuric acid marketplace find out about that recognized a viable marketplace with attainable shoppers and pricing suppositions.

The Corporate’s Annual File on Mode 10-Ok for the length ended December 31, 2024, used to be filed March 5, 2025, and is to be had at www.sec.gov/edgar. See “Cautionary Note Regarding Forward-Looking Statements” beneath.

About Hycroft Mining Maintaining Company 

Hycroft Mining Maintaining Company is a U.S.-based gold and silver corporate exploring and growing the Hycroft Mine, some of the international’s biggest valuable metals deposits positioned in northern Nevada, a Tier-1 mining jurisdiction. Upcoming a protracted historical past of oxide heap leaching operations, the Corporate is all in favour of finishing the technical research to transition the Hycroft Mine right into a large-scale milling operation for processing the sulfide ore. As well as, the Corporate is occupied in a strong exploration drill program to liberate the entire attainable of our expansive +64,000-acre land package deal, of which lower than 10% has been explored. In 2023, Hycroft introduced the invention of a pristine high-grade silver gadget inside the identified useful resource segment and the delineation of 2 pristine high-grade silver traits. Those discoveries constitute an important pristine worth motive force for the Hycroft Mine that the Corporate is following up on with supplementary drilling in 2024.

For additional knowledge, please touch:
[email protected]
www.hycroftmining.com

Cautionary Observe Referring to Ahead-Having a look Statements 

This information leave accommodates “forward-looking statements” inside the that means of Category 27A of the USA Securities Office of 1933, as amended, Category 21E of the USA Securities Trade Office of 1934, as amended, or the USA Personal Securities Litigation Reform Office of 1995. All statements, alternative than statements of ancient info, incorporated herein and folk statements by means of our officials or representatives, that cope with actions, occasions or tendencies that our control expects or anticipates will or would possibly happen going forward, are forward- shopping statements, together with however now not restricted to things like month trade technique, plans and objectives, aggressive strengths and growth and expansion of our trade. The phrases “estimate”, “plan”, “anticipate”, “expect”, “intend”, “believe” “target”, “budget”, “may”, “can”, “will”, “would”, “could”, “should”, “seeks”, or “scheduled to” and homogeneous phrases or expressions, or negatives of those phrases or alternative diversifications of those phrases or similar language or any dialogue of technique or purpose establish forward-looking statements. Ahead-looking statements cope with actions, occasions, or tendencies that the Corporate expects or anticipates will or would possibly happen going forward and are in keeping with flow expectancies and suppositions. Ahead-looking statements come with, however don’t seem to be restricted to (i) dangers matching to adjustments in our operations on the Hycroft Mine, together with dangers related to the cessation of mining operations on the Hycroft Mine; uncertainties regarding estimates of mineral assets; dangers matching to a dearth of a finished feasibility find out about; and dangers matching to our skill to re- identify commercially possible mining operations; (ii) business matching dangers together with fluctuations in the cost of gold and silver; the industrial luck of, and dangers matching to, our exploration and construction actions; uncertainties and dangers matching to our reliance on contractors and specialists; availability and value of apparatus, provides, power, or reagents. The exploration goal does now not constitute, and must now not be construed to be, an estimate of a mineral useful resource or mineral hold, as levels of attainable tonnage and grade (or constituent) of the exploration goal are conceptual in nature; there was inadequate exploration of the related attribute or houses to estimate a mineral useful resource; and it’s unsure if additional exploration will end result within the estimation of a mineral useful resource. Those dangers would possibly come with refer to, and the incidence of a number of of the occasions or instances abandoned or together with alternative occasions or instances can have a subject material opposed impact at the Corporate’s trade, money flows, monetary situation, and result of operations. Refer to our “Risk Factors” defined in our Annual File on Mode 10-Ok for the 12 months ended December 31, 2024, and alternative experiences filed with the SEC for more info about those and alternative dangers. You might be cautioned in opposition to attributing undue simple task to forward-looking statements. Even if we’ve got tried to spot impressive elements that might motive latest effects to vary materially from the ones described in forward-looking statements, there is also alternative elements that motive effects to not be as expected, estimated or meant. Even if those forward-looking statements have been in keeping with suppositions that the Corporate believes are affordable when made, you’re cautioned that forward-looking statements don’t seem to be promises of month efficiency and that latest effects, efficiency, or achievements would possibly vary materially from the ones made in or advised by means of the forward-looking statements on this information leave. As well as, despite the fact that our effects, efficiency, or achievements are in step with the forward-looking statements contained on this information leave, the ones effects, efficiency or achievements will not be indicative of effects, efficiency or achievements in next sessions. Given those dangers and uncertainties, you’re cautioned to not park undue reliance on those forward-looking statements. Any forward-looking statements made on this information leave discuss handiest as of the year of the ones statements. We adopt disagree legal responsibility to replace the ones statements or publicly announce the result of any revisions to any of the ones statements to mirror month occasions or tendencies.

SOURCE Hycroft Mining Maintaining Company