Hemlo Mining Navigates Operational Transition in Second Quarter

The transition to a bottom-up mining approach, intended to reduce waste handling and improve long-term efficiency, constrained access to higher-grade stopes during the quarter. This shift resulted in a higher proportion of development ore being processed, which lowered mill feed grades compared to the first quarter. Despite the dip in production, management highlighted that operational fundamentals are strengthening, with development metres increasing by 42% and longhole production drilling rising by 65% since March.

The company reached a significant milestone by achieving three consecutive years without a lost-time injury, maintaining a clean environmental record throughout the spring thaw. Hemlo Mining has also bolstered its technical capacity by integrating new mobile equipment, including three MacLean bolters and two Sandvik scooptrams, as part of a 21-unit fleet upgrade. The site currently employs 794 personnel, with approximately 75% of the workforce drawn from local communities. Hemlo Mining plans to release its full financial results on August 11, 2026.