Core Viewpoint - Hemlo Mining Corp. reported strong gold production in 2025, totaling 143,458 ounces, and outlined an operational strategy for 2026 aimed at optimizing the Hemlo Gold Mine's infrastructure and increasing production capacity over the next two years [1][2]. Production Highlights - The 2025 gold production included 20,192 ounces in December, with an average grade of 4.71 grams per tonne [1]. - This production level represents the highest output from the Hemlo camp in the past four years and met previously stated production guidance [1]. Operational Strategy - The company is implementing a structured Action Plan to enhance existing infrastructure and drive production ramp-up through 2026-2028, focusing on mine recovery initiatives, optimized sequencing, and ventilation upgrades [1][2]. - The transition to an owner-operator model is expected to improve operational control and reduce costs, with approximately 70% of contractor staff sourced from local communities [1][2]. Investment and Equipment - An investment of over US$30 million is planned for 21 new pieces of mobile equipment to be delivered throughout 2026, aimed at increasing mine productivity and reducing bottlenecks [2]. - The company anticipates further equipment additions in 2027 as part of a program to modernize the mine fleet [2]. Health, Safety, and Environmental Focus - The company plans to conduct an independent assessment of its Health, Safety, and Environmental management systems, emphasizing risk management and workplace culture [1][2]. - Continued implementation of the Mining Association of Canada's Towards Sustainable Mining standard is part of the broader focus for 2026 [1]. Future Outlook - The company aims to increase the underground mining rate to maximize hoisting capacity, which currently operates at approximately 60% [1]. - An updated mineral resource and reserves estimate is planned for the second half of 2027, aligning with the company's growth strategy [2].

Core Viewpoint - Vault Minerals will transition to an owner-operator model for load-and-haul operations at its King of the Hills mine starting January 1, 2027, following the expiration of its current mining services contract [1] Group 1: Operational Efficiency - The owner-operator model is expected to provide superior cost efficiency and enhanced cost control, allowing for direct management of operating costs and improved optimization [2] - Operational agility will be enhanced, enabling the company to dynamically adjust mine plans, schedules, and priorities in response to changing conditions and strategic goals [2] Group 2: Workforce and Equipment - The new model will promote workforce stability through a dedicated site-based team, fostering continuity, productivity, and strong safety behaviors [3] - Ownership of mining equipment will yield capital investment benefits, providing enduring value with potential for resale or redeployment [3] Group 3: Continuous Improvement and Innovation - Owner-operated mining is anticipated to facilitate continuous improvement and the integration of innovation, technology, and operational efficiencies throughout the mining value chain [4] - The transition follows a significant increase in KoTH open-pit ore reserves, extending the mine's life to 13 years, with stockpiles supporting mill feed for an additional five years [4] Group 4: Fleet and Production Capacity - To accommodate a projected 35% increase in mining activity, the company plans to deploy a larger and more productive fleet, including one 260 tonne and two 360 tonne excavators, along with 190 tonne haul trucks and ancillary equipment [5] - Average material movements are expected to reach around 14 million bank cubic meters per year over the life of the ore reserve [5] Group 5: Transition Plan and Financials - A transition plan will be executed throughout the 2026 financial year and the first half of the 2027 financial year to ensure a smooth start to owner-operated mining [6] - The company plans to retain contract drill and blast services at KoTH, with a preferred contractor selected for a five-year term starting January 1, 2027, pending final agreements [6] - Deposits of approximately A$2 million (US$1.3 million) for long-lead fleet items are expected to be paid in Q2 2026, with equipment financing and hybrid funding options under evaluation [7] - Earlier in February, the company announced an A$80 million expansion of its KoTH processing facility [7]