Hemlo Mining Corp. Announces First Gold Pour and Updates to its Post-Consolidation Share Capital

Company Overview - Hemlo Mining Corp. has acquired the Hemlo Gold Mine from Barrick Mining Corp. for approximately US$1.1 billion, aiming to become a leading Canadian mid-tier gold producer [1] - The Hemlo Gold Mine, located 35 kilometers east of Marathon, Ontario, has produced around 25 million ounces of gold since 1985 [1] Share Capital Rectification - The company rectified prior disclosures regarding its share capital post-acquisition, indicating 295,496,636 common shares issued and outstanding, a reduction of 284 shares due to rounding [2] - There was a misallocation in the number of stock options and restricted share units, resulting in 6,592,595 stock options and 3,089,945 restricted share units being granted upon completion of the transaction [3] Convertible Debentures - Holders of the company's $2,500,000 unsecured convertible debentures converted their debentures into common shares, resulting in the issuance of an additional 833,332 common shares at a price of $3.00 per share [4] - Following this conversion, the total number of common shares issued and outstanding reached 296,329,968 as of December 17, 2025 [4] Forward-Looking Statements - The company plans to stabilize operations and drive performance, with a full corporate update expected in January 2026, including preliminary production results for 2025 [6] - Key assumptions for future performance include successful integration of the Hemlo mine, future gold prices, and the ability to fund programs and operations [8]