Mr. Jason Kosec reports

HEMLO MINING CORP. ANNOUNCES FURTHER LEADERSHIP APPOINTMENTS, ENHANCING OPERATIONAL EXPERTISE

Hemlo Mining Corp. has made further additions to its senior leadership team.

Garett Macdonald, vice-president, operations, and general manager

Mr. Macdonald has been appointed vice-president, operations, and will also assume responsibilities of general manager at the Hemlo mine, supported by deputy general manager Dennis Bigras. In this role, Mr. Macdonald will report to Eric Tremblay, chief operating officer.

Mr. Macdonald is a professional mining engineer with over 30 years of industry experience in mine operations, project development and corporate leadership. He most recently served as president and chief executive officer of Maritime Resources Corp., bringing the Hammerdown project in Newfoundland and Labrador from concept to first gold production, prior to the sale of the company to New Found Gold Corp. in November, 2025, for over $292-million. As vice-president of project development for JDS Energy and Mining, he led project design and engineering for Dalradian Resources' Curraghinalt project, a five-million-plus-ounce high-grade gold deposit in Northern Ireland and GoldQuest's 2.5-million-ounce Romero project in Dominican Republic. Mr. Macdonald also served as vice-president of operations and project director for Rainy River Resources and New Gold Inc., and has held roles in mine operations and mine engineering throughout his career with senior Canadian firms Placer Dome, Suncor Energy and Teck Corp. He holds a master of business administration degree from Western University's Ivey Business School and a bachelor of engineering (mining) from Laurentian University in Sudbury, Ont.

Perry Blanchard, vice-president, sustainability

Mr. Blanchard has been appointed vice-president of sustainability, bringing nearly 30 years of experience in environment, health and safety management in the mining industry. Most recently, Mr. Blanchard served as vice-president, environment and sustainability, at Maritime Resources Corp., where he led the Hammerdown project through environmental assessment, permitting, construction transition and ultimately acquisition by New Found Gold Corp. in November, 2025. Previously, he held senior environment, health and safety roles with Kirkland Lake Gold at the company's Detour Lake mine and with Vale Canada at its Voisey's Bay operations. Mr. Blanchard holds a bachelor of technology in environmental studies from the University of Cape Breton. He will also report to Eric Tremblay, the company's chief operating officer.

Jason Kosec, president and chief executive officer of Hemlo Mining, commented:

"We are pleased to welcome Garett Macdonald and Perry Blanchard to our senior leadership team. Garett is a highly accomplished mining executive with more than 30 years of operational and project development experience. Perry brings nearly 30 years of leadership experience in environmental and sustainability roles. These appointments significantly strengthen the senior leadership team focused on operations of our Hemlo mine and help position our company for future growth."

About Hemlo Mining Corp.

Hemlo Mining (previously Carcetti Capital Corp.) recently closed the acquisition of the Hemlo gold mine in Ontario, Canada, from Barrick Mining Corp. for aggregate consideration of up to $1.1-billion (U.S.). The Hemlo gold mine is located 35 kilometres 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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