Mr. Jason Kosec reports

HEMLO MINING CORP. STRENGTHENS EXECUTIVE TEAM WITH APPOINTMENT OF JASON BANDUCCI AS VICE PRESIDENT, CORPORATE DEVELOPMENT & INVESTOR RELATIONS

Hemlo Mining Corp. has appointed Jason Banducci as vice-president, corporate development and investor relations, effective immediately.

Mr. Banducci is a mining executive with nearly 15 years of experience spanning corporate strategy, capital markets, mergers and acquisitions, and investor relations within the global mining sector. Prior to joining the company, Mr. Banducci held a senior executive role at a U.S.-focused gold producer, where he led the acquisition of a Nevada-based gold mining operation in a transaction that repositioned the company from developer to producer status and drove market capitalization growth from approximately $200-million to over $1-billion.

Earlier in his career, Mr. Banducci was a founding executive at a gold exploration company, where he led the go-public transaction on the TSX Venture Exchange, including asset acquisition and equity financing, and later executed a merger-of-equals that created one of the largest U.S.-focused precious metals exploration and development companies. He began his career in investment banking, advising mining companies on a broad range of strategic transactions, including mergers and acquisitions, joint ventures, streaming and royalty agreements, and debt and equity financings.

Mr. Banducci holds an MBA from the Smith School of Business at Queen's University and a bachelor's degree from the University of Western Ontario.

In his role, Mr. Banducci will oversee corporate development, strategic initiatives, capital markets strategy, investor relations and corporate communications.

Jason Kosec, president and chief executive officer of Hemlo, commented: "Jason brings a rare combination of transaction execution, capital markets insight and strategic vision. His track record of leading transformational transactions and scaling companies in the precious metals sector aligns directly with our ambition to grow Hemlo into a leading Canadian mid-tier gold producer."

Mr. Banducci commented: "I am excited to join Hemlo Mining at a compelling time in its evolution. The company has a strong foundation and clear vision, and I look forward to working closely with the industry-leading board of directors and management team to enhance capital markets visibility, evaluate strategic growth opportunities and execute initiatives that create long-term shareholder value."

About Hemlo Mining Corp.

Hemlo Mining (previously Carcetti Capital Corp.) recently closed the acquisition of the Hemlo gold mine from Barrick Mining Corp. for aggregate consideration of up to $1.1-billion. The Hemlo gold mine is located 35 kilomeres east of the town of Marathon, Ont., and has produced approximately 25 million ounces of gold from both underground and open-pit operations since production began in 1985. The company is looking to establish itself as a leading Canadian mid-tier, growth-focused gold producer, with an immediate focus on maximizing the value of the Hemlo gold mine's existing infrastructure through a fit-for-purpose operating approach, while unlocking new opportunities through an aggressive brownfields exploration.

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