Mr. Jason Kosec reports

HEMLO MINING CORP. APPOINTS EVA KOCI TO BOARD OF DIRECTORS

Eva Koci, an experienced capital markets executive, has been appointed to serve as an independent director on Hemlo Mining Corp.'s board of directors, effective today. The board now consists of seven directors, a majority of whom are independent. Ms. Koci has also been appointed as chair of the company's compensation committee and a member of the company's audit committee.

Jonathan Awde, executive chair of Hemlo Mining, commented: "We are delighted to welcome Eva to the board. Her more than two decades of capital markets leadership in the mining sector, combined with her proven ability to build businesses and create value, make her an outstanding addition to Hemlo Mining. Her financial acumen and deep industry relationships will further strengthen the board's skill set, diversity and independence as we execute on our strategy to build Hemlo into a leading Canada-focused gold producer."

Eva Koci, independent director of Hemlo Mining, commented: "I am excited to join Hemlo Mining's board at such a pivotal moment in the company's journey. The Hemlo mine is an iconic Canadian gold asset with a remarkable history and significant untapped potential. I look forward to working closely with management and my fellow directors to help accelerate growth and drive lasting value for shareholders."

Ms. Koci brings over 20 years of capital markets and investment banking experience, focused on the mining sector. Most recently, she was partner and head of capital markets at Oberon Capital Corp. (2013 to 2024), where she played a key role in building the firm into one of Canada's largest charity flow-through financing firms, with more than $1.5-billion raised during her tenure. Ms. Koci began her finance career in investment banking at Scotia Capital Markets before transitioning into institutional equity sales. At Jennings Capital (2003 to 2010), as vice-president, institutional equity sales, she pioneered and built the firm's United States institutional business. She continued to serve U.S. institutional investors in her next role as managing director, institutional equity sales, at Stifel Nicolaus Canada Inc. from 2010 until the firm ceased its Canadian operations in 2013. Ms. Koci previously served as an independent director and audit committee member of South Kirkland Gold (formerly Canadian Gold Miner Corp.; 2017 to 2024), where she contributed capital markets expertise to guide corporate strategy and position the company for a future public market listing. Ms. Koci is a CFA charterholder; holds an MBA in finance from the Rotman School of Management at the University of Toronto; and both a master of arts and a bachelor of arts (honours) in French language and literature from Western University.

In line with Ms. Koci's appointment to the board, committee roles are being adjusted, such that each of the audit committee, compensation committee, and nominating and governance committee will comprise solely independent directors. The revised committee memberships are set forth below: audit committee: Tom Yip (chair), Eva Koci and Robert Quartermain; compensation committee: Ms. Koci (chair), Mr. Quartermain and Audra Walsh; nominating and governance committee: Mr. Quartermain (chair), Ms. Walsh and Mr. Yip; and EHS and technical committee: Ms. Walsh (chair), Mr. Kosec and Mr. Quartermain.

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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