Hycroft Mining Holding Corporation【HYMCW】株式ニュース

Hycroft Delivers $10 Billion NPV from Technical Report at Spot Prices While Advancing High-Grade Brimstone and Vortex Silver DiscoveriesJune 2, 2026 4:30 PM
PR Newswire (US) WINNEMUCCA, Nev., June 2, 2026 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company"), is pleased to announce the results from its S-K 1300 Technical Report Summary and Initial Assessment (the "TRS"), which outlines the economics and mine plan for a milling operation utilizing conventional pressure oxidation ("POX") and heap leach processing at the Hycroft Mine in Nevada, USA. All amounts are in US dollars, and all figures are presented in US customary units.The TRS demonstrates that Hycroft hosts a large-scale, long-life precious metals project with compelling economics and strong leverage to rising gold and silver prices, reinforcing its position as a multi-generational, world-class asset in a Tier-1 jurisdiction. The TRS is being filed concurrently with the SEC on EDGAR and is available on the Company's website.Basis of the Technical ReportBase case commodity prices: $3,600 per ounce for gold and $48.00 per ounce for silverSpot prices(1): $4,569 per ounce of gold and $77.94 per ounce of silverMine plan based on the 2026 Mineral Resource Estimate (16.4 million ounces of gold and 562.6 million ounces of silver Measured and Indicated)Inferred mineral resources of 5.0 million ounces of gold and 132.8 million ounces of silver are not included in the mine plan and represent an upside to the TRS economicsDrill results from the 2025-2026 exploration program are not included in the mine plan and represents further upsideHighlights: Robust Economics Demonstrate the Scale and Value of the Hycroft Mine:Base Case Net Present Value at 5% ("NPV5") of $5.4 billion (pre-tax) and $4.3 billion (post-tax)Internal Rate of Return ("IRR") of 18.9% (pre-tax) and 16.9% (post-tax)NPV5 at spot prices of $10.0 billion and IRR of 30.1% (post-tax)Post-Tax Payback: 4.7 years at Base case prices and 2.9 years at spot pricesGross revenues: $54.2 billion at Base case pricesSignificant Leverage to Commodity Prices:For every $100 increase in gold price per ounce, the post-tax NPV5 increases by $300 million For every $5.00 increase in silver price per ounce, the post-tax NPV5 increases by $460 millionMulti-Decade Production Profile at Meaningful Scale:51 year mine lifeAverage annual production:204,000 ounces of gold6.8 million ounces of silver295,000 ounces gold equivalent(2) ("AuEq")First 10 years deliver enhanced production averaging more than 330,000 ounces AuEqLife of Mine ("LOM") production: 10.4 million ounces of gold347.5 million ounces of silver15.1 million ounces AuEqConventional Plant Design, Layout and Processing:Proven POX processing technologyExisting infrastructure on-site allows for reduced capital expendituresPlant designed to process 57,100 tons per day of mineralized materialLOM average cash cost(3) of $1,924 per ounce AuEq and all-in sustaining cost ("AISC")(4) of $2,147 per ounce AuEqInitial capital costs: $2.4 billion and LOM sustaining capital costs of $3.1 billion__________________________________(1) Spot prices for gold and silver as of May 25, 2026(2) Silver is converted to AuEq using the ratio of $48.00/oz Ag to $3,600/oz Au(3) Cash costs consist of mining costs, processing costs, mine-level G&A, and refining charges and royalties(4) All-in sustaining costs includes cash costs plus sustaining capital and closure costsSignificant Upside and Optionality Remains:Potential mine plan upside opportunities include:Further drilling to reclassify waste and inferred gold and silver resources to measured and indicated resources enabling integration into future mine plansAccelerated access to high-grade zones at Brimstone and Vortex early in the mine life through targeted optimizationCombining underground mine option alongside the open pit benefiting from large scale production and bringing high-grade ounces forward earlier in the mine lifeNew oxide targets have been identified for potential heap leach early in the mine lifeExtending mine life or expanding production by processing stockpiled low-grade mill feed material within the current mine plan but not included in the economic analysis Current mineral resource comprises less than 15% of the +64,000-acre land position as the Hycroft system remains open in all directions and at depth for future growthNew exploration targets identified for potential resource expansion opportunities including high-grade and oxide targetsSignificant drilling campaign underway with two core drill rigs at Brimstone and Vortex, increasing to four core drill rigs over the next quarter to expand and define these two high-grade systems that currently remain open in all directions and at depthRoasting test work is pending as an alternative processing option which could potentially enhance project economics including potentially adding a meaningful third revenue stream from the by-product production and sale of sulfuric acid, a strategically important industrial chemicalDiane R. Garrett, Executive Chairman and Chief Executive Officer, commented: "This Technical Study confirms the scale, quality, and long-term potential of the Hycroft Mine. The project delivers strong economics and significant leverage to rising gold and silver prices, reinforcing Hycroft's position as one of the sector's most compelling large-scale development opportunities, located in a Tier 1 jurisdiction.Importantly, we believe the most meaningful value creation opportunity remains ahead of us. By advancing the high-grade Brimstone and Vortex silver systems, we see a clear path to further improving project economics and unlocking additional value. The Hycroft land package remains a highly prospective environment, and we believe we are only at the beginning of demonstrating its true potential."For additional context on the TRS, please visit our pre-recorded event with 6ix.About Hycroft Mining Holding Corporation                                                                    Hycroft Mining Holding Corporation is a US-based gold and silver company exploring and developing the Hycroft Mine, among the world's largest precious metals deposits, located in northern Nevada, a Tier-1 mining jurisdiction. Hycroft is engaged in a robust exploration drill program (2025-2026 exploration drill program) to expand and advance the two new high-grade silver systems – Brimstone and Vortex. These discoveries represent a significant value driver for the Hycroft Mine. For further information, please contact:E: info @Hing-0564
www.hycroftmining.comMedia: Tavistock, Jos Simson / Emily Moss
E: hycroft@tavistock.co.uk
Phone: +44 207 920 3150Cautionary Statements Regarding the Initial Assessment and Mineral ResourcesThe Initial Assessment is a preliminary technical and economic study that indicates the economic potential of the mineralization to support the disclosure of mineral resources at the Hycroft Mine. The Initial Assessment, however, does not represent a feasibility study or a pre-feasibility and does not demonstrate economic viability nor does it support a development decision, for which additional project planning and design are needed. As a result, Hycroft plans to continue to estimate its resources at the Hycroft Mine and further develop the project economics.As used in this news release, the terms "pre-feasibility study," "feasibility study," "initial assessment," "mineral reserve," "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource", as applicable, and other terms used herein are defined and used in accordance with S-K 1300.The Initial Assessment also does not include the conversion of mineral resources to mineral reserves. Under subpart 1300 of Regulation S-K, mineral resources may not be classified as "mineral reserves" unless the determination has been made by a QP that the mineral resources can be the basis of an economically viable project. Investors are specifically cautioned not to assume that any part or all of the mineral deposits (including any mineral resources) in these categories will ever be converted into mineral reserves, as defined by the SEC.In addition, estimates of inferred mineral resources have too high of a degree of uncertainty as to their existence and may not be converted to a mineral reserve. Therefore, investors are cautioned not to assume that all or any part of an inferred mineral resource exists, that it can be the basis of an economically viable project, or that it will ever be upgraded to a higher category. Likewise, investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted to mineral reserves.Cautionary Note Regarding Forward-Looking StatementsCertain information set forth in this news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable United States securities law (referred to herein as forward-looking statements). Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which includes, but is not limited to, statements with respect to: the future financial or operating performance of the Company, the Hycroft Mine and its mineral properties; results from work performed to date; the estimation of mineral resources and reserves; the realization of mineral resource and reserve estimates; the development, operational and economic results of the PEA for the Hycroft Mine, including cash flows, revenue potential, development, expenditures, and timing thereof, extraction rates, LOM projections and cost estimates; timing of completion of a technical report summarizing the results of the PEA; magnitude or quality of mineral deposits; anticipated advancement of the Project mine plan; exploration expenditures, costs and timing of the development of new deposits; costs and timing of future exploration; permitting; construction and optimization planning; estimates of metallurgical recovery rates; anticipated advancement of the Hycroft Mine, future prospects and prospective inclusion of mineral resources in future mining activities; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of the Project; future growth potential of the Project; and future development plans.             Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Hycroft Mine; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Hycroft Mine and the Company's mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in the Hycroft Mine parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in the Company's Annual Report on Form 10-K, as amended, for the fiscal year ended December 31, 2025, and all other quarterly filings, available on the EDGAR profile for the Company at www.sec.gov.Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company's filings with U.S. Securities and Exchange Commission which can be viewed online under the Company's profile on EDGAR at www.sec.gov.Cautionary Note Regarding Non-GAAP Financial MeasuresAlternative performance measures in this news release such as "cash cost", "AISC", and Free Cash Flow are furnished to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are used as key performance measures that management uses to monitor and assess performance of the Hycroft Mine, and to plan and assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a standardized meaning within the accounting principles generally accepted in the Unites States of America ("GAAP") and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with GAAP.Cash CostsCash costs include site operating costs (mining, processing, site G&A), refining charges and royalties (excludes corporate office G&A and exploration expenses). While there is no standardized meaning of the measure across the industry, the Company believes that this measure is useful to external users in assessing operating performance.All-In Sustaining CostSite level AISC includes cash costs plus sustaining capital and closure costs. The Company believes that this measure is useful to external users in assessing operating performance and the Company's ability to generate free cash flow from potential operations.Free Cash FlowFree cash flows are revenues net of operating costs, royalties, capital expenditures, and cash taxes. The Company believes that this measure is useful to the external users in assessing the Company's ability to generate cash flows.AppendixThe S-K 1300 Technical Report Summary and Initial Assessment with Economic Analysis was prepared by Ausenco Engineering South USA with contributing authors Ausenco Engineering South USA Inc., Independent Mining Consultants Inc. and WestLand Engineering & Environmental Services, Inc.The following are summaries of or excerpts from the TRS, do not purport to be complete and are qualified in their entirety by reference to the full text of the TRS. The Hycroft MineThe Hycroft mine is among the world's largest precious metals deposits. It is situated on the western flank of the Kamma Mountains on the eastern edge of the Black Rock Desert approximately 54 miles west of Winnemucca in Humboldt and Pershing Counties, Nevada, a Tier-1 mining jurisdiction.The Technical Study is based on the 2026 Mineral Resource Estimate of 16.4 million ounces of gold and 562.5 million ounces of silver (measured and indicated). An additional 5.0 million ounces of gold and 132.8 million ounces of silver exist in the inferred mineral resource category which was not included in this study.In 2023, Hycroft announced the discovery of two new high-grade silver systems within the known resource area and the Company is engaged in a significant exploration drill program (2025-2026 drill program) designed to expand these two systems in addition to targeting newly identified high-grade opportunities. These discoveries represent a significant value driver for the Hycroft Mine. The mine has existing facilities on site including administration buildings, mobile maintenance and light vehicle maintenance shops, warehouse, leach pads, primary, secondary and tertiary crushing systems, assay lab, Merrill-Crowe process plants, refinery and components for a larger second refinery. Current Property and Facilities LayoutTechnical Study OverviewThe Technical Study evaluates a heap leaching and milling operation at the Hycroft Mine based on a conventional flotation with POX flowsheet, followed by hot cure, lime boil, cyanide leach, Merrill-Crowe precipitation and refining.The Technical Study was prepared by Ausenco Engineering USA South Inc. ("Ausenco"), Independent Mining Consultants, Inc. ("IMC"), and WestLand Engineering & Environmental Services, Inc. ("WestLand") in accordance with S-K 1300 and encompasses a mine life of 51 years, processing approximately 57,100 tons per day of sulfide and transition mineralized material.Economic Analysis Summary
UnitValueGeneral InputsGold PriceUSD$/oz3,600Silver PriceUSD$/oz48Discount Rate%5LOM ProductionTotal Mineralized Material Minedkst1,496,134Total Waste Minedkst2,320,719Average Strip Ratiow:o1.55Life of Mineyears51Total Mill Feed Processedkst1,046,284Average Mill Feed Grade (Au)oz/st0.012Average Mill Feed Grade (Ag)oz/st0.43Total Leach Material Processedkst210,010Average Heap Leach Feed Grade (Au)oz/st0.005Average Heap Leach Feed Grade (Ag)oz/st0.12Average Mill Process Gold Recovery%82.8Average Mill Process Silver Recovery%77.5Average Heap Leach Gold Recovery%40.0Average Heap Leach Silver Recovery%12.0Life of Mine Payable Gold Productionkoz10,424Life of Mine Payable Silver Productionkoz347,462Life of Mine Payable Gold Equivalent Productionkoz15,057Transport, Refining, RoyaltiesGold Payable%99.5Silver Payable%99.5NSR Royalty (1.5% plus gross up)% NSR2.14Refining Costs - AuUS$/oz5.00Refining Costs - AgUS$/oz0.50

UnitValueLOM Operating CostsMining CostUS$/st mined2.28Mining CostUS$/st processed6.91Mill Processing CostUS$/st processed16.65Heap Leach Processing CostUS$/st processed2.49G&A CostUS$/st processed0.53Total Operating CostUS$/st processed21.96Cash Costs1US$/oz AuEq1,924All-In Sustaining Cost2US$/oz AuEq2,147Capital CostsInitial CapitalUS$M2,434Sustaining CapitalUS$M3,107Closure CostsUS$M243FinancialsPre-Tax NPV (5%)US$M5,437Pre-Tax IRR%18.9Pre-Tax Paybackyears4.3Post-Tax NPV (5%)US$M4,344Post-Tax IRR%16.9Post-Tax Paybackyears4.71Cash costs consist of mining costs, processing costs, mine-level G&A and refining charges and royalties
2AISC includes cash costs plus sustaining capital and closure costsSignificant Leverage to Gold and Silver PricesLOM RevenueCapital CostsDescription Capital Cost (US$M)Sustaining Cost
(US$M)Total Cost
(US$M)Mining1941,1711,365Crushing4860109Sulfide Process9157761,692Oxide Process164663Waste Rock Storage & TMF208515723Onsite Infrastructure1399148Offsite Infrastructure43366409Total Direct Costs1,5632,9444,507Indirects38227409Provisions448136584Owner's Costs41-41Total Capital Cost2,4343,1075,541Note: Includes contingenciesOperating Costs The total operating costs are estimated at $21.96/ton or $27.6 billion over the 51-year mine life. These operating costs do not include pre-production operating costs. A summary of operating costs is presented in the table below.Cost AreaLOM Total (US$M)US$/ton processed% of TotalMining8,6836.9131.5Process18,24514.5266.1G&A 6640.532.4Total27,59221.96100.0Note: Includes contingenciesThe TRS is based on the 2026 Measured and Indicated Mineral Resources Estimate ("MRE"). The mine plan is based only on measured and indicated mineralization that was estimated in the mineral resource block model. Inferred mineralization was not included within the TRS.Hycroft Mineral Resource Estimate as of 21 January 2026, US customary Units ClassificationCutoff Grade$ Netof RefiningApproximateCutoff, AuEq
oz/tonKtonsGoldoz/tonSilveroz/tonSulfideSulfur %Contained OuncesGoldOz x 1000SilverOz x 1000Heap Leach ResourceMeasured$1.88 - $3.630.001 - 0.00292,9940.0050.111.8344610,322Indicated$1.88 - $3.630.001 - 0.002110,3740.0040.091.544759,492Meas + Ind$1.88 - $3.630.001 - 0.002203,3680.0050.101.6792119,814Inferred$1.88 - $3.630.001 - 0.002110,0180.0050.091.4152810,122Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide LeachMeasured$16.730.007734,5710.0110.432.038,154316,600Indicated$16.730.007748,8760.0100.301.847,339226,161Meas + Ind$16.730.0071,483,4470.0100.371.9315,493542,761Inferred$16.730.007459,6460.0100.271.764,505122,725Combined Mineral Resources Leach Plus MillMeasured$1.88 - $16.730.001 - 0.007827,5650.0100.402.018,600326,922Indicated$1.88 - $16.730.001 - 0.007859,2500.0090.271.807,814235,653Meas + Ind$1.88 - $16.730.001 - 0.0071,686,8150.0100.331.9016,414562,575Inferred$1.88 - $16.730.001 - 0.007569,6640.0090.231.695,033132,847Notes:Mineral resources based on metal prices of $3,100/troy oz Au and $36.00/troy oz AgCutoffs are Income – Refining Cost = NSRGold Equivalent (AuEq) for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay,
or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver AssayGold Equivalent for Mill + Pressure Oxidation = Fire Gold + 0.0107 x Total Silver AssayNumbers may not match exactly due to roundingMineral resources are contained within a computer-generated optimized pitTotal material in that pit is 5.42 billion tonsMineral resources are not mineral reserves, and detailed economic considerations have not been appliedModifying factors for mine and process design have not been appliedAll units are US customary Ktons means 1,000 short tons. Au and Ag grades are in troy ounces per short ton (oz/ton)Mining MethodsHycroft is planned as a conventional hard rock open pit operation. The mine plan is based on measured and indicated mineralization that was estimated in the mineral resource block model. Independent Mining Consultants developed a mine plan that produces the required process feed and moves sufficient mine waste to assure continued release of the mineralization.The mine will feed two processing facilities:A flotation mill followed by pressure oxidation and leaching of the concentrate, andA Run-of-Mine ("ROM") heap leach for mineralization that is amenable to direct cyanide leaching.The cutoff grade for the schedule is based on income net of process:Income net of process = Net Return after Refining – Process CostsTotal mined material begins with 11.3 million tons per annum in preproduction and increases to 71.2 million tons per annum in Years 1 through 3. Additional equipment is acquired later in the mine life with total material movement increasing to 82.0 million tons per annum from Years 5 to 27. From Year 28 until the end of the mine life (Year 51) the total material mined reduces to 70 million tons per annum.The material planned for milling and leaching on the production schedule is potentially minable material. They do not constitute mineral reserves at this time.Low-grade mill feed material is stockpiled throughout the mine life. This material is not fed to the mill and is not part of the economic analysis in this report. Further trade-off studies will analyze the opportunity to feed this additional material through the process plant. Mined Tons & Payable Gold Equivalent OuncesProduction Schedule The following graphs reflect the approximate recovered metal produced over the mine life and the relative metal contribution of the heap leach compared to the mill.Recovered Gold and Silver by Year Processing and Recovery Methods A significant portion of the gold and silver in the material going to the process plant is refractory due to its association with pyrite, marcasite, and other sulfide minerals. Oxide and some transition material will be processed on a heap leach pad. A process flowsheet was developed to treat sulfide and certain transition mineralization. These materials are ground and floated to produce a concentrate. The concentrate is then oxidized in the POX plant and subsequently cyanide leached to extract gold and silver.The key process plant design criteria are:Major equipment is designed for a nominal throughput of 57,100 tons/dayPlant process recovery of 82.8% gold and 77.5% silver, given the LOM average gradesExisting crushing circuit consists of primary, secondary, and tertiary crushing, supported by a coarse ore stockpile and a crushed ore stockpile with dedicated feeders to provide continuous feed to the downstream process plantProcess flowsheets include three stages of crushing followed by two stages of ball milling, flotation, POX, a cyanide leaching circuit for oxidized flotation concentrate, Merrill-Crowe circuit, and Tailings Management Facilities ("TMF"), with an overall availability of 92%Pregnant solution from the cyanide leach circuit will be processed in the existing Merrill-Crowe zinc cementation facilities.InfrastructureThe Hycroft Mine benefits from substantial existing infrastructure constructed and operated over decades of prior production. Key existing facilities include:Crushing facilityHeap leach padsNorth Merrill-Crowe facilityOnsite access, haul roads and a major east–west railway pass adjacent to the Hycroft propertyTruck shopMaintenance buildingLaboratory and administrative buildingsPower is supplied to the site from nearby power linesPotable water is sourced from a wellNew infrastructure to be constructed includes the Northeast TMF, a Waste Rock Storage Facility, the Process Plant Site and associated infrastructure, a Limestone Plant, and a new rail spur.The proposed processing facility is designed to be inclusive with (or "of") the existing crushing circuit and North Merrill-Crowe facility. The proposed scope of work includes electrical distribution upgrades, new substations, process control systems, reagent handling facilities (including oxygen and limestone systems), and selective expansion or repurposing of existing maintenance and administrative buildings.The site currently has access to grid power. Additional transmission capacity is required to support the new plant. The total estimated load factoring for load growth, including power for the oxygen plant, is 160 MW. Tie-ins to existing utilities will include water, compressed air, and potable and sewer systems. The development of a freshwater production well field is also planned to support freshwater needs throughout the LOM.A rail spur extension from the Union Pacific line is planned to support delivery of reagents, consumables, and fuel. Additionally, the existing fuel island is to be replaced with a higher-efficiency system during the LOM.Ancillary structures including a covered crushed ore stockpile, new laboratory and maintenance facilities, fuel station upgrades, and technical services expansion are proposed to support operations over the LOM. In addition to this, selected existing buildings will be relocated, expanded, rehabilitated, or repurposed.ContractsHycroft Mine is subject to a royalty agreement (Sprott Royalty Agreement) with SPRL II which was initiated on May 29, 2020. The royalty is accounted for by Hycroft as a deferred gain liability in which Hycroft received a cash consideration of US$30.0 million in exchange for a perpetual royalty equal to 1.5% (2.14% including withholding tax gross up) of Net Smelter Returns (NSR) from Hycroft Mine. Environmental, Permitting and Social ConsiderationsThe Mine is located on public land administered by the Bureau of Land Management ("BLM") and private land controlled by Hycroft Resources and Development, LLC, a wholly owned subsidiary of Hycroft Mining Holding Company.Hycroft is currently authorized to operate under a plan of operations ("POO") for ore extraction and processing, water management, engineering, environmental studies, and exploration. In 2012, the BLM issued a Record of Decision ("ROD") for an EIS conducted for the Mine to expand heap leach operations, open pits, and waste rock facilities. In 2014, the BLM issued a Decision Record with an Environmental Assessment authorizing Hycroft's POO for construction and operations of a rail spur, open pit expansion, and construction of a processing complex, including the TMF located northeast of the Mine. The TRS outlines development of additional infrastructure to support the modified Project including construction of a new TMF, waste rock storage facilities, rail spur, and a new process plant area. Review and approval of proposed revisions to the POO by the BLM constitutes a federal action under the National Environmental Policy Act and applicable BLM regulations. Accordingly, BLM review of the Plan Application will require preparation of either an Environmental Assessment or an Environmental Impact Statement.   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The Silver Deficit Just Hit Year Six and Junior Miners Are RespondingApril 29, 2026 8:45 AM
PR Newswire (US)

Issued on behalf of GoldHaven Resources Corp.VANCOUVER, BC, April 29, 2026 /PRNewswire/ -- EquityInsider.com Sector Commentary — Silver just posted its sixth consecutive annual supply deficit, with the 2026 shortfall widening 15% to 46.3 million troy ounces[1]. That means demand has outpaced production for half a decade straight, and the gap is getting wider, not narrower. At the same time, governments are pouring capital into critical minerals at a pace that would have seemed unlikely even two years ago; the United States convened 54 nations at the 2026 Critical Minerals Ministerial and committed $10 billion to a new strategic reserve through Project Vault, while Canada signed cooperation agreements with 21 global partners[2]. When the commodity is draining and the policy tailwind is accelerating, the juniors sitting on diversified polymetallic deposits tend to separate from the pack. Five of them are doing exactly that: GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF), Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF), Hycroft Mining (NASDAQ: HYMC), Aya Gold & Silver (TSX: AYA) (OTCQX: AYASF), and NevGold (TSXV: NAU) (OTCQX: NAUFF).
The analyst consensus is shifting to match the structural picture. Bank of America projects silver could reach between $135 and $309 per ounce by year end if the gold-to-silver ratio compresses toward historical extremes, while J.P. Morgan's base case sits at $81 per ounce[3]. Those targets are built on a simple foundation: the market has drawn down 762 million troy ounces from above-ground inventories since 2021, roughly an entire year of global mine output, and advanced polymetallic juniors carrying embedded critical mineral exposure now represent the highest-conviction discovery-stage repricing opportunity in the sector[4].GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has hired Dias Airborne Limited to fly a 1,741 line-kilometre high-resolution magnetic survey over its flagship Magno Project in northern British Columbia, with the program expected to launch in June 2026. The company also recently closed an oversubscribed flow-through financing totaling approximately $2.04 million to fully fund the upcoming drill campaign.It will be the first modern property-wide geophysical survey across the full Magno land package, which now spans more than 37,200 hectares after GoldHaven recently filed a technical report on three newly acquired mineral claims added to the Magno Project. The airborne program will scan the Magno Zone, Kuhn Zone, and D Zone at tight 100-metre line spacing, targeting corridors where surface sampling has returned silver grades up to 2,370 grams per tonne, tungsten up to 6,550 parts per million, and indium concentrations as high as 334 parts per million.GoldHaven selected Dias based on geological similarities between Magno and Hercules Metals' Leviathan discovery in Idaho, where the same QMAGT sensor platform helped identify concealed drill targets that led to discovery. The technology uses superconducting quantum interference device sensors to capture the full tensor of the Earth's magnetic field, delivering sharper resolution than conventional surveys. GoldHaven is also evaluating a follow-on ground-based 3D IP survey to refine subsurface targeting ahead of drill mobilization."This survey represents a major step forward in systematically unlocking the district-scale potential of Magno," said Rob Birmingham, CEO of GoldHaven. "By integrating modern high-resolution geophysics with our growing geological database and 2025 surface discoveries, we believe we are significantly improving our ability to define high-confidence drill targets across multiple mineralized systems at Magno."GoldHaven has already submitted its drill permit application for a 2026 program targeting three high-grade zones carrying silver, tungsten, lead, zinc, and indium mineralization. Tungsten is classified as a critical mineral by both the Canadian and U.S. governments, and Canada currently has no primary domestic tungsten production.Beyond British Columbia, GoldHaven is advancing its Copeçal Gold Project in Mato Grosso, Brazil, where the company recently completed its first diamond drilling program confirming gold and copper anomalism. Phase 2 drilling is planned for mid-Q2 2026. Between Magno and a 123,900-hectare Brazilian portfolio spanning three projects, GoldHaven offers diversified discovery exposure at a stage where most juniors remain locked into a single asset.CONTINUED… Read this and more news for GoldHaven Resources at:https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/In other industry developments:Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) released an updated Preliminary Economic Assessment for its 100%-owned Tonopah West silver-gold project in Nevada, delivering an After-Tax IRR of 28% and NPV5% of US$437 million on initial capex of US$190 million across an 11.2-year mine life. Indicated resources increased 90% to 40.2 million AgEq ounces at 454 g/t AgEq, with average annual production of 7.1 million AgEq ounces at AISC of US$17.44 per ounce."When we published our inaugural preliminary economic assessment 18 months ago, every ounce in the mine plan was inferred. Today we are presenting a high-confidence project underpinned by a substantial indicated resource base of 40.2 million silver equivalent ounces, nearly double what we reported in our previous resource estimate," said Andrew Pollard, President and CEO of Blackrock Silver.Anchored at US$31 per ounce silver and US$2,700 per ounce gold, Blackrock Silver projects after-tax life-of-mine cash flow of US$778 million with a payback period of 3.5 years. An inferred resource of 83 million AgEq ounces and an open vein system support continued resource expansion.Hycroft Mining (NASDAQ: HYMC) released additional drill results from the Vortex zone at the Hycroft Mine in Nevada, with hole H25D-6083 returning 53.4 metres at 304.14 g/t silver and 1.33 g/t gold, including 0.9 metres grading 2,890 g/t silver and 33.70 g/t gold at the structural intersection of the Break and Albert Faults. The results extend Vortex along strike and at depth, with two additional core rigs arriving in the coming months to accelerate drilling at both Vortex and Brimstone."These exceptional drill results represent a pivotal stage in the advancement of our project, where two years of disciplined analysis and exploration are delivering clear, high-impact success," said Diane Garrett, President and CEO of Hycroft Mining. "They not only confirm the strength and continuity of the mineralization we've long believed in, but the consistency and scale of the mineralization we are seeing strongly support our geological and structural model."Both Vortex and Brimstone remain open in all directions and at depth, with Hycroft Mining characterizing the current results as representing only a small portion of the system's potential. The company updated its structural model following two years of core logging, identifying fluid pathways controlling mineralization at both high-grade zones that are now being directly targeted in the ongoing drill program.Aya Gold & Silver (TSX: AYA) (OTCQX: AYASF) announced the commencement of a feasibility study for its Boumadine gold-silver project in Morocco following receipt of the mining permit, with a target completion by H2-2027. The company is advancing ten drill rigs on an aggressive infill program, with nearly 20% of its 2026 drilling objective already completed, alongside multiple parallel workstreams to accelerate the next phase of development."We are accelerating development at Boumadine as it enters the feasibility stage," said Benoit La Salle, President and CEO of Aya Gold & Silver. "With the mining permit in place, we are advancing multiple workstreams in parallel to fast-track the next phase of development while maintaining the highest technical standards, supported by leading engineering firms and specialists. In parallel, ten drill rigs are advancing an aggressive infill program, with nearly 20% of our 2026 drilling objective already completed."Aya Gold & Silver operates the Zgounder silver mine in Morocco and is advancing the Boumadine polymetallic project, where the feasibility study marks a transition from exploration to development and is expected to form the basis of a future production decision.NevGold (TSXV: NAU) (OTCQX: NAUFF) reported Phase II metallurgical testwork results at its Limousine Butte Project in Nevada, confirming that a sequential antimony-then-gold leaching flowsheet achieves greater than 93% average gold recovery from residual tailings after the antimony leaching stage. Six tested samples delivered gold recoveries ranging from 82% to 99%, demonstrating that the antimony recovery process has minimal to no impact on gold recoveries and supporting the development of a combined antimony-gold mine scenario."The results from our Phase II antimony and gold metallurgical testwork shows that leaching in sequence on antimony and gold works favorably as we have envisioned and guided to over the past 12 months," said Brandon Bonifacio, CEO of NevGold. "This is a key step in optimizing the metallurgical flowsheet to recover antimony and gold at Limo Butte."The company also identified additional antimony mineralization at surface in the historical pre-strip waste dump adjacent to the past-producing Golden Butte pit, representing another potential source of near-surface antimony material. NevGold has completed drilling on the historical leach pads and a mineral resource estimate is on track for Q2 2026.FURTHER READING: https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/CONTACT:
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info @acblanke1DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity-Insider is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.SOURCES:https://www.bloomberg.com/news/articles/2026-04-15/silver-market-poised-for-sixth-straight-annual-deficit-this-yearhttps://policyoptions.irpp.org/2026/03/critical-minerals-us/https://www.thestreet.com/investing/bank-of-america-has-stark-message-for-silver-investorshttps://www.thestreet.com/investing/analysts-have-a-stark-message-on-2026-silver-price-and-demandLogo: https://mma.prnewswire.com/media/2840019/Equity_Insider_Logo.jpg

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Original: The Silver Deficit Just Hit Year Six and Junior Miners Are Responding