Hycroft Appoints 4 Independent Directors to a 9-Member Board

• Hycroft appointed 4 independent directors to its board, effective September 1, 2026.
• Richard O'Brien, former Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of Newmont Mining Corporation, has also been appointed Lead Independent Director.
• Marcelo Godoy, Chief Technology Officer of AngloGold Ashanti plc, joins as an independent director.
• Josh Olmsted spent nearly 30 years at Freeport-McMoRan, most recently as Senior Advisor, Americas.
• Blake Rhodes brings 30 years of leadership experience, primarily from Newmont Corporation, where he served as General Counsel.
• The board now comprises 9 directors following the appointments.

Company Overview

Hycroft Mining Holding Corporation (Nasdaq: HYMC) is a US-based gold and silver company exploring and developing the Hycroft Mine in northern Nevada. The company has a long history of heap-leach operations at the site and is advancing to the next phase of processing sulfide mineralization. It is also running the 2025 to 2026 exploration drill program to expand and advance two high-grade silver systems, Brimstone and Vortex.

Four Appointments Take the Board to 9 Directors

Hycroft has appointed 4 independent directors to its board, and the appointments are effective September 1, 2026. They are the former Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of Newmont Mining Corporation, Richard O'Brien; the Chief Technology Officer (CTO) of AngloGold Ashanti plc, Marcelo Godoy; the former President, Americas of Freeport-McMoRan, Josh Olmsted; and the former General Counsel and Senior Vice President of Newmont Corporation, Blake Rhodes.

O'Brien has also been appointed Lead Independent Director. Following the 4 appointments, the board comprises 9 directors. The former Lead Independent Director of Hycroft, Thomas Weng, continues to serve on the board.

Executive Chairman and Chief Executive Officer of Hycroft Mining Holding Corporation, Diane R. Garrett, separates routine board changes from this one:

"There are Board appointments, and then there are moments that reinforce the transformation of the company and underscore the potential significant opportunities ahead. Today is one of those moments."

Hycroft built its current position over the past several years through exploration success, the advancement of its technical work toward operation, and a strong balance sheet. The 4 appointments widen the board's operating, technical, and financial experience.

Richard O'Brien Becomes Lead Independent Director

O'Brien takes the Lead Independent Director role with more than 40 years of leadership experience across the mining and energy industries, including more than 20 years in CEO, CFO, and Chief Operating Officer (COO) positions.

Garrett points to the board work behind that record:

"Richard's appointment as Lead Independent Director brings to Hycroft a proven leader with extensive experience chairing and guiding public company boards through periods of growth and transformation."

O'Brien served as President and CEO of Newmont Mining Corporation from 2007 to 2013, after serving as CFO from 2005 to 2007. From 2013 to 2015, he was President and CEO of Boart Longyear Group Ltd., a provider of drilling services and equipment to the mining industry.

He currently serves as a director of Vulcan Materials Co. and the Saudi Arabian Mining Co. He previously served on the board of Xcel Energy Inc., as Chair of New Gold Inc. from July 2024 until its acquisition by Coeur Mining Inc. earlier in 2026, and as Chair of Pretium Resources Inc. from 2019 until its acquisition by Newcrest Mining Ltd. in 2022. O'Brien received his Juris Doctor from Lewis and Clark College in Portland, Oregon, and a bachelor's degree in economics from the University of Chicago.

Marcelo Godoy Adds Mine Planning & Technology Experience

Godoy joins the board from a technology leadership role in the mining industry. He has spent more than 20 years in mining and has served as Executive Vice President and CTO of AngloGold Ashanti plc since 2021, where he has improved the company's operating performance, project delivery, and forecast reliability.

Before AngloGold Ashanti plc, Godoy was Senior Vice President, Exploration at Newmont Corporation. Earlier, he was Mining Sector Leader for Golder Associates in South America, managing major feasibility studies and reserve compliance audits for some of the world's largest mining companies. He holds a Ph.D. in Strategic Mine Planning from The University of Queensland.

Josh Olmsted Ran Copper Operations Across the Americas

Olmsted brings large-scale copper operating experience to the board. He spent nearly 30 years at Freeport-McMoRan, most recently as Senior Advisor, Americas, following 5 years as President and COO, Americas.

In that role, Olmsted oversaw Freeport-McMoRan's copper mining operations across North and South America, as well as the Climax molybdenum business. Earlier in his career, he led Freeport-McMoRan's copper operations and its Morenci Operations, one of the largest copper mines in North America. He currently serves as a director of Sociedad Minera Cerro Verde S.A.A. and holds a degree in Mine Engineering from the Colorado School of Mines.

Blake Rhodes Brings Legal & Transaction Experience

Rhodes strengthens the board's legal and transaction experience. He brings 30 years of leadership experience primarily from Newmont Corporation, where he held several senior leadership positions, including General Counsel, Senior Vice President of Indonesia, and Senior Vice President, Strategic Development, overseeing mergers and acquisitions.

Rhodes played a central role in several of Newmont Corporation's most significant strategic initiatives, including the acquisition of Goldcorp Inc. and the formation of the Nevada Gold Mines joint venture. He currently serves as a director of Triple Flag Precious Metals Corp. and ERDA Resource Opportunities Inc., and he holds a Bachelor of Business Administration from Iowa State University and a Doctor of Jurisprudence from the University of Pennsylvania.

Next Steps

The 4 new directors serve from September 1, 2026, on a board of 9 directors, with O'Brien as Lead Independent Director and Weng continuing as a board member.

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