Hycroft Extends Vortex Silver 150 Metres West, Expands Brimstone Toward Surface

• Drilling extended the high-grade silver system at Vortex approximately 150 metres (m) to the west, returning 12.5 m grading 375.41 grams per tonne (g/t) silver.
• Within that interval, 4.2 m graded 748.02 g/t silver.
• At Brimstone, an 82.7 m intersection graded 87.52 g/t silver and 0.77 g/t gold and extended high-grade silver closer to the surface.
• Step-out drilling beneath Brimstone confirmed a wider zone of veining and supports the interpretation of a potential feeder system at depth.
• Since the drill program began in August 2025, Hycroft has completed approximately 15,585 m of core drilling of an approximately 26,000-metre program.
• Hycroft plans approximately 7,200 m of further core drilling at Brimstone and approximately 3,000 m at Vortex.

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.

Vortex Silver System Steps 150 Metres West 

Drilling at Vortex extended high-grade silver mineralization approximately 150 metres (m) to the west, returning 12.5 m grading 375.41 grams per tonne (g/t) silver from 387.2 m depth, within a broader intersection of 91.4 m grading 66.79 g/t silver from 313.9 m depth. Within the high-grade interval, 4.2 m graded 748.02 g/t silver from 395.3 m depth. The hole was offset from an earlier hole and extends the high-grade silver system further, consistent with the company's structural targeting at Vortex.

The strike length at Vortex is currently over a kilometre, and the system is more than 500 m wide at its widest point. Vortex remains open in all directions and at depth, and recent drilling is returning higher grades to the west, southwest, and north.

Brimstone Expands Closer to Surface

At Brimstone, the drilling tested the up-dip portion of the system, meaning the part that lies closer to the surface. Several holes expanded that portion of the Brimstone high-grade system, and one confirmed continuity of the high-grade system through its widest section, returning 82.7 m grading 87.52 g/t silver and 0.77 g/t gold from 122.2 m depth, including 19.4 m grading 108.19 g/t silver and 2.10 g/t gold, and an interval of 0.7 m grading 14.35 g/t gold. A second hole returned 149.4 m grading 33.32 g/t silver and 0.42 g/t gold from 85.6 m depth, including 8.5 m grading 148.12 g/t silver and 1.37 g/t gold. Two further holes intersected mineralization from surface, returning 153.0 m grading 9.87 g/t silver and 0.44 g/t gold, and 142.2 m grading 17.66 g/t silver and 0.37 g/t gold.

Grades of this nature can potentially support both open-pit and underground operations and offer optionality on mining method. The current dimensions of Brimstone are approximately 300 m wide from north to south and approximately 500 m long from east to west, measured down-dip (away from the surface). The system remains open in all directions and at depth.

Testing a Potential Feeder System at Depth

Alongside the step-out drilling, the program is testing a geophysical anomaly identified in 2025 that indicated a possible feeder system, meaning a conduit that would have carried mineralizing fluids up into the known deposit. Two holes stepped out approximately 90 m down-dip from the initial holes tested in late 2025 and returned alteration and geochemistry consistent with the Brimstone fluid pathway. One intersected an 18 m zone of stockwork veining, a dense network of small mineralized veins, including 1.5 m grading 120.00 g/t silver from a depth of 645.9 m.

These results support the interpretation of a potential feeder system at depth. The signatures are consistent with that interpretation, but the drilling remains high in the system and will continue to advance toward the target.

Drill Program Progress

Since commencing the drill program in August 2025, Hycroft has completed approximately 15,585 m of core drilling of an approximately 26,000-metre core drill program at the Hycroft Mine in Nevada.

Executive Chairman and Chief Executive Officer of Hycroft Mining Holding Corporation, Diane Garrett, sizes up what the drilling has established about the two systems:

"Our drilling continues to confirm the size, continuity, and growth potential of the high-grade silver systems at Brimstone and Vortex. At Brimstone, we're expanding high-grade silver mineralization closer to surface while increasing confidence in the potential for a feeder system at depth."

The results support the company's strategy of expanding both systems to define the best path for development, including the potential for a high-grade underground silver mine.

Next Steps

Hycroft will drill approximately 7,200 m of core at Brimstone, including continued drilling toward the potential feeder system at depth. At Vortex, approximately 3,000 m of core is planned, with drilling expanding across the breadth of the deposit to test the northern, southern, and eastern extensions in addition to the western zone. The company's operational focus this year is to determine the optimal path forward for the mine.

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