#Canada #Toronto #financial results #Gold Production #Hemlo Mining

Hemlo Mining Corp. Reports Second Quarter 2026 Financial and Operating Results

Hemlo Mining Corp. (TSX: HMMC; OTCQX: HMMCF), a prominent name in the Canadian gold production sector, announced its financial and operational performance for the second quarter of 2026, showcasing impressive results. The report reflects a commitment to advancing strategic initiatives while maintaining operational excellence.

Financial Highlights

For the quarter ending June 30, 2026, Hemlo achieved notable financial milestones:

• - Revenue: The company reported revenue of $142.5 million, driven by the sale of 32,425 gold ounces at an average price of $4,467 per ounce.
• - Net Income: Net income was reported at $31.0 million or $0.10 per share, while adjusted net income stood at $27.3 million, reflecting a strong operational performance.
• - EBITDA: The company reported EBITDA of $77.2 million, highlighting its robust cash flow generation capability.
• - By the end of Q2, cash reserves totaled $130.2 million, positioning the company well for future initiatives.

Jason Kosec, the President and CEO of Hemlo Mining, commented on the quarter’s performance, emphasizing the successful advancements in production and operational metrics.

Operational Successes

The operational achievements during the quarter further underline the company’s progress:

• - Production: Hemlo recorded 25,188 attributable gold ounces for the quarter, aligning with production expectations and showcasing operational efficiency improvements.
• - Operational Metrics: There was a significant increase in operational activities: a 42% rise in development meters and a 65% increase in longhole drilling, both indicators of enhanced mining efficiency.
• - Safety Record: Celebrating three consecutive years without lost-time injuries, Hemlo has ensured worker safety while meeting operational goals. The company recorded no environmental non-compliance events during the period.

Additionally, the company consumed 344,000 tonnes of ore during the quarter, improving processing capacity and demonstrating its operational capabilities.

Strategic Developments

Hemlo Mining made important strides in enhancing its corporate strategies:

• - The company announced a 34% increase in Measured and Indicated Mineral Resources.
• - It successfully transitioned to being an owner-operator, marking a pivotal shift in its operational model.
• - The completion of an Impact Benefit Agreement with the Biigtigong Nishnaabeg community strengthens community ties and underscores Hemlo’s pride in fostering local partnerships.
• - Furthermore, its shares began trading on the OTCQX Best Market, enhancing investor access to Hemlo’s operations.

Looking Towards the Future

With strategic priorities firmly planted, Hemlo Mining is gearing up for significant growth. The company aims to expand its mineral resources further, supported by ongoing exploration and drilling programs encompassing 130,000 meters in 2026. The recent achievements and strong financial footing provide a solid foundation for future growth, with plans for updated technical reports expected in late 2027.

As Hemlo Mining continues to execute its strategic vision, the company remains committed to maximizing its production capabilities and enhancing shareholder value, making it a key player in the mining industry community.

For deeper insights into these results, Hemlo Mining will host a conference call on August 12, 2026, at 11:00 AM Eastern Time. Interested parties can join the call to discuss the implications of these results and the trajectory of the company's operations moving forward.