#Canada #Toronto #Q2 2026 #Hemlo Gold Mine #Hemlo Mining Corp.

Hemlo Mining Corp. Reports Second Quarter 2026 Operating Results

Hemlo Mining Corp. (TSX: HMMC) (OTCQX: HMMCF) has announced its operational results for the second quarter ending June 30, 2026. This announcement marks a significant milestone for the company as it moves further into its role as an owner-operator at the Hemlo Gold Mine in northwestern Ontario. During this quarter, Henlo Mining exhibited crucial advancements in both production metrics and safety performance, reflecting their strategic vision and dedication to responsible mining practices.

Company Highlights

President and CEO Jason Kosec expressed enthusiasm over the progress made in Q2, emphasizing that the company is fully committed to investing in its workforce and equipment. Hemlo's efforts to refine its mining sequence have aligned with their expectations, leading to sustained production rates. The company also reached an impressive three years without any lost-time injuries, demonstrating a commitment to maintaining high safety standards while operating in a challenging environment.

Significant milestones this quarter include the completion of an Impact Benefit Agreement with the Biigtigong Nishnaabeg community, a 34% increase in measured and indicated mineral resources, completion of a transition to the Toronto Stock Exchange, and promising exploration results from the newly interpreted South-Rim Zone.

Operational Breakdown

Hemlo's operating statistics paint a vivid picture of performance:

• - Total ore processed reached 344,000 tonnes, with a gold production of 27,858 ounces.
• - Gold sold amounted to 32,425 ounces.
• - The average grade of ore processed stood at 2.53 g/t, slightly lower than the prior quarter due to strategic adjustments in mining operations.

The operational strategy transitioned during this quarter to a bottom-up mining approach, which is expected to optimize waste handling and improve long-term efficiencies. While this shift did result in a temporary decrease in mill feed grade, it was seen as a necessary adjustment to boost future operational performance effectively.

Further improvements in operations were evident as developmental metrics showed a 42% increase in development meters and a 65% increase in longhole drilling compared to the previous quarter. These indicators suggest that Hemlo is establishing stronger operational fundamentals that will lead to greater production in the near future.

Safety and Environmental Commitment

Continuing its impressive streak, the Hemlo Gold Mine maintained excellent health, safety, and environmental performance, achieving three consecutive years without accidents leading to lost-time injuries. This commitment is central to Hemlo's operational philosophy, ensuring that high standards are upheld throughout their mining activities.

Financial Position and Future Outlook

As of June 30, 2026, the company's financial position reported a cash balance of $130.152 million, alongside a reduced net debt of $19.848 million compared to the previous period, showcasing a solid financial footing. These figures underscore the company’s enhanced cash position and prudently managed debt levels, creating an optimistic outlook for upcoming projects and operational expansions.

Looking ahead, Hemlo Mining is set to hold a conference call on August 12, 2026, to discuss its Q2 results in greater detail, emphasizing its commitment to transparency and stakeholder engagement.

Conclusion

In summary, Hemlo Mining's second quarter results not only reflect operational achievements but also underscore the company's continuous commitment to enhancing safety, environmental stewardship, and community engagement. With a fully operational owner-operator model now in place, Hemlo Mining is poised for significant advancements and growth in the Canadian gold mining sector.