Brimstone Drilling Demonstrates Strong Continuity Of High Grade Veins

WINNEMUCCA, NV - Diane Garrett, President and CEO of Hycroft Mining Holding Corporation, said, "We are very pleased with the results from the 2024 exploration program.  We completed 9,058 meters of drilling, along with geophysics, geochemistry, and mapping campaigns. These results have significantly advanced our understanding of the mineralizing controls in the high-grade trends of Brimstone and Vortex, as well as generated high-grade potential in new exploration targets.  The high-grade discoveries could potentially be a starter-mine for the Hycroft sulfide milling operation.  Given the high commodity price environment and identification of new oxide (heap leach) target areas, the technical team at Hycroft is further assessing the potential opportunity of a start-up heap leach operation in advance of the milling operation."

Alex Davidson, Vice President, Exploration, said, "The last of the 2024 drill results from Brimstone are back and demonstrate strong continuity of the high-grade veins, both up and down dip, and along strike.  These very high-grade results in Brimstone coupled with the geochemistry, petrography, mapping and geophysics programs, confirm that Brimstone is the upper portion of an intermediate sulfidation system.  This new understanding of Brimstone is a significant shift from the historical concept of the Hycroft system  and has influenced how we will advance our exploration programs in the future.  Furthermore, the work completed throughout 2024 has identified the presence of both structures and intrusives in the high-grade trends, which have not been modeled previously and will now be used to target high-grade mineralization.

On the north end of the property our updated exploration strategy led us to drill hole H24E-6014 in Bay which hit good high-grade veins. The vein textures indicate we are high in the system, opening strong target potential at depth. On the south end of the property a new target - Manganese - situated east of Vortex and southeast of Brimstone, yielded very positive results from drill hole H24E-6015, which clearly shows mineralization extending east beyond our current resource, with multiple high-grade oxide intercepts on low angle structures warranting further drilling.

Altogether, these exciting results continue to demonstrate that Hycroft is a world class deposit with significant exploration potential.  The technical team continues to review all data from the 2024 exploration and drill program and together with additional information from geophysics and mapping, is identifying drill targets for the next exploration phase."