Mr. Jason Kosec reports

HEMLO MINING CORP. ANNOUNCES CONDITIONAL APPROVAL TO GRADUATE TO THE TORONTO STOCK EXCHANGE

Hemlo Mining Corp. has received conditional approval to list its common shares on the Toronto Stock Exchange and graduate from the TSX Venture Exchange. Final approval of the listing is subject to the company fulfilling all of the requirements of the TSX, including receipt of all required documentation on or before July 14, 2026.

The company will issue a news release once the TSX confirms the date on which trading of Hemlo Mining's common shares is expected to commence on the TSX.

Concurrently with the graduation to the TSX, the company's common shares will be delisted from the TSX-V. Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or Cusip for the common shares.

Jason Kosec, president, chief executive officer and director of Hemlo Mining, commented: "Receiving conditional approval to graduate to the Toronto Stock Exchange marks a defining milestone for Hemlo Mining and validates the disciplined execution of our capital markets strategy since acquiring the Hemlo gold mine. The TSX listing will help broaden our shareholder base, enhance trading liquidity and position Hemlo alongside Canada's premier gold producers -- reflecting both the historic scale of our asset and the institutional confidence we have built. This is a critical step in our staged uplisting plan, ensuring Hemlo is appropriately recognized within the global gold equity universe."

About Hemlo Mining Corp.

Hemlo Mining is a Canadian gold producer focused on operating and enhancing the Hemlo gold camp in Northwestern Ontario. The company's flagship asset, the Hemlo gold mine, has produced approximately 25 million ounces of gold since 1985 from both underground and open-pit operations. The company's fit-for-purpose strategy is centred on maximizing the value of the mine through improved operating efficiency, production growth and mine life extension. Hemlo Mining is led by an experienced team with a record of value creation in the global mining sector.

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