# Hemlo Mining Corp. Announces Increased Mineral Resource Estimate for the Hemlo Gold Mine Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4 Original source: https://orestocks.com/company/HMMC.V/press-releases/6058266336044618 Publisher: orestocks Original announcement: 2026-06-25T14:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-01T03:38:32.514Z Atlas analysis updated: 2026-10-01T03:38:32.514Z - Company: Hemlo Mining Corp. - Ticker: HMMC - Exchange: TSXV - Region: Ontario, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-10-01 03:38:33 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Hemlo Mining Corp. announced an updated Mineral Resource Estimate for its Hemlo Gold Mine in Marathon, Ontario, reporting a significant increase in gold resources. Measured & Indicated resources grew by 34% to 4.8 Moz Au, and Inferred resources increased by 39% to 0.9 Moz Au. The growth is attributed to additional drilling, geological reinterpretation, and updated economic assumptions, including a higher gold price and lower cut-off grades. Reasoning: The updated Mineral Resource Estimate for the Hemlo Gold Mine shows a significant increase in both Measured & Indicated and Inferred gold resources, driven by additional drilling, geological reinterpretation, and updated economic assumptions including a higher gold price and lower cut-off grades. The identification of a new A-Zone also contributes to the growth. - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: Category Upgrade - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: New Zone Identified - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 19 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The MRE reports a significant increase in total Measured & Indicated resources to 96.9 Mt and Inferred resources to 12.1 Mt. Evidence · text > Measured & Indicated \("M&I"\) Mineral Resources \(100% basis\) of 96.9 million tonnes \("Mt"\) at 1.55 grams per tonne \("g/t"\) Au for 4.8 million ounces \("Moz"\) of gold \("Au"\); represents an increase of 1.2 Moz, or +34%, compared to the 2025 Report. **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The MRE shows an increase of 1.2 Moz in M&I gold resources \(+34%\) and 0.242 Moz in Inferred gold resources \(+39%\) compared to the prior estimate. Evidence · text > Measured & Indicated \("M&I"\) Mineral Resources \(100% basis\) of ... 4.8 million ounces \("Moz"\) of gold \("Au"\); represents an increase of 1.2 Moz, or +34%, compared to the 2025 Report. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The news release explicitly states that Dr. Raphael Dutaut and Mr. Brian Hartman, both P.Geo., are Qualified Persons responsible for reviewing and approving the scientific and technical information and the MRE. Evidence · text > The scientific and technical information in this news release has been reviewed and approved by Dr. Raphael Dutaut, Ph.D., P.Geo., Vice President, Exploration of Hemlo Mining Corp., who is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects \("NI 43-101"\). Mr. Brian Hartman, P.Geo., of SLR Consulting \(Canada\) Ltd., Denver, Colorado, is an independent Qualified Person for the mineral resource estimate disclosed herein, as defined by NI 43-101, and has reviewed and approved the relevant contents of this news release. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The MRE was prepared in accordance with NI 43-101 standards, and a Qualified Person under NI 43-101 has signed off on the estimate. Evidence · text > Mr. Hartman is an Independent Qualified Person within the meaning of NI 43-101 \(as defined herein\). The MRE was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum \("CIM"\) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The document clearly states the cut-off grades used for both Open Pit \(0.28 g/t Au\) and Underground \(1.8 g/t Au\) resources. Evidence · text > Open Pit Mineral Resources are reported using a gold cut-off grade of 0.28 g/t. Underground Mineral Resources are reported on a diluted basis using a gold cut-off grade of 1.8 g/t. **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: The MRE's increases are partly related to updated economic assumptions, including a higher gold price which led to lower cut-off grades \(from 0.36 g/t Au to 0.28 g/t Au for Open Pit and 2.4 g/t Au to 1.8 g/t Au for Underground\). Evidence · text > The increases are mostly related to \(i\) the updated economic assumptions, including an increase in the long-term gold price from US$1,900/oz in the 2025 Report to US$2,500/oz in the MRE \(see Table 4 for sensitivity analysis\) **Dilutive Growth** Polarity: negative Definition: Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion. Why it applies: A portion of the resource growth is attributed to updated economic assumptions, including a higher gold price and lower cut-off grades, which can incorporate lower-grade material into the resource. Evidence · text > The increases are mostly related to \(i\) the updated economic assumptions, including an increase in the long-term gold price from US$1,900/oz in the 2025 Report to US$2,500/oz in the MRE \(see Table 4 for sensitivity analysis\) **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an updated Mineral Resource Estimate for the Hemlo Gold Mine, incorporating new drilling and revised assumptions. Evidence · text > Hemlo Mining Corp. Announces Increased Mineral Resource Estimate for the Hemlo Gold Mine **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The MRE includes a significant portion of Inferred Mineral Resources \(12.1 Mt at 2.22 g/t Au for 0.9 Moz Au\), which is a speculative category. Evidence · text > Inferred Mineral Resources \(100% basis\) of 12.1 Mt at 2.22 g/t Au for 0.9 Moz Au **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The MRE includes Measured Mineral Resources, which is the highest confidence category. Evidence · text > Measured & Indicated \("M&I"\) Mineral Resources \(100% basis\) of 96.9 million tonnes \("Mt"\) at 1.55 grams per tonne \("g/t"\) Au for 4.8 million ounces \("Moz"\) of gold \("Au"\) **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The MRE includes Indicated Mineral Resources, which provides reasonable geological confidence. Evidence · text > Measured & Indicated \("M&I"\) Mineral Resources \(100% basis\) of 96.9 million tonnes \("Mt"\) at 1.55 grams per tonne \("g/t"\) Au for 4.8 million ounces \("Moz"\) of gold \("Au"\) ## Extracted facts Stored fact records: 19. Some facts used in scoring do not have a stored record. ## Resource Estimates (19) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-0) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:074c55608062f5186dd6 - Deposit or zone: Open Pit - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 71923000 - Grade: 0.87 - Grade Unit: g/t - Contained Metal: 2009 - Contained Unit: koz - Cutoff Grade: 0.28 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 1600 - Prior Cutoff Grade: 0.36 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Open Pit Indicated resource shows a significant increase in contained gold, contributing to the overall MRE growth. This is partly due to a lower cut-off grade and higher gold price assumptions, alongside new drilling. - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 71,923 Context: 0.87 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 2009 against 1600 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.28 against 0.36 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-1) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:c35fb3ac575f30845a40 - Deposit or zone: Underground \(ex. Interlake\) - Mining method: combined #### Resource Data - Category: measured - Tonnes: 5095000 - Grade: 3.4 - Grade Unit: g/t - Contained Metal: 557 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Measured resource for the Underground \(ex. Interlake\) area provides high confidence, though the increase is partly influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Measured Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 5,095 Context: 3.40 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-2) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:5a3670ee579dfe26186f - Deposit or zone: Underground \(ex. Interlake\) - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 13676000 - Grade: 3.42 - Grade Unit: g/t - Contained Metal: 1502 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Indicated resource for the Underground \(ex. Interlake\) area shows good contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Indicated Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 13,676 Context: 3.42 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-3) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:14610b962ff96bfe7f5d - Deposit or zone: Interlake Claims - Mining method: combined #### Resource Data - Category: measured - Tonnes: 2085000 - Grade: 4.1 - Grade Unit: g/t - Contained Metal: 275 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Measured resource for the Interlake Claims shows high-grade gold, contributing to the overall MRE, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Measured Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 2,085 Context: 4.10 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-4) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:465b57435ae27c4d2b83 - Deposit or zone: Interlake Claims - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 4087000 - Grade: 3.8 - Grade Unit: g/t - Contained Metal: 499 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Indicated resource for the Interlake Claims shows good contained gold, contributing to the overall MRE, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Indicated Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 4,087 Context: 3.80 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-5) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:ea39783d2c7e4fc5f8c4 - Mining method: combined #### Resource Data - Category: measured - Tonnes: 7180000 - Grade: 3.6 - Grade Unit: g/t - Contained Metal: 832 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 2000 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Total Underground Measured resource shows good contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Measured Resource - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 7,180 Context: 3.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 832 against 2000 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-6) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:7b4af51d7acd3d16dee3 - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 17763000 - Grade: 3.5 - Grade Unit: g/t - Contained Metal: 2000 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 2000 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Total Underground Indicated resource shows good contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Indicated Resource - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 17,763 Context: 3.50 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-7) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:ea39783d2c7e4fc5f8c4 - Mining method: combined #### Resource Data - Category: measured - Tonnes: 7180000 - Grade: 3.6 - Grade Unit: g/t - Contained Metal: 832 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total Measured resource provides high confidence for a portion of the overall MRE. - Positive factor: Measured Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 7,180 Context: 3.60 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-8) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:89c78983210a5a2baab4 - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 89686000 - Grade: 1.39 - Grade Unit: g/t - Contained Metal: 4009 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total Indicated resource provides good confidence for a significant portion of the overall MRE. - Positive factor: Indicated Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 89,686 Context: 1.39 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-9) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:1a323533afb35e89e178 - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 96866000 - Grade: 1.55 - Grade Unit: g/t - Contained Metal: 4841 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 3600 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total Measured & Indicated resource shows a significant increase in contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · text > Measured & Indicated \("M&I"\) Mineral Resources \(100% basis\) of 96.9 million tonnes \("Mt"\) at 1.55 grams per tonne \("g/t"\) Au for 4.8 million ounces \("Moz"\) of gold \("Au"\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4841 against 3600 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-10) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:d215be83bc7d5398e5f1 - Mining method: combined - Resource basis: attributable #### Resource Data - Category: measured - Tonnes: 6137000 - Grade: 3.52 - Grade Unit: g/t - Contained Metal: 694 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total attributable Measured resource provides high confidence for a portion of the overall MRE, considering the 50% NPI royalty on Interlake Claims. - Positive factor: Measured Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 6,137 Context: 3.52 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-11) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:cc2a13a0788dcf74f157 - Mining method: combined - Resource basis: attributable #### Resource Data - Category: indicated - Tonnes: 87643000 - Grade: 1.33 - Grade Unit: g/t - Contained Metal: 3760 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total attributable Indicated resource provides good confidence for a significant portion of the overall MRE, considering the 50% NPI royalty on Interlake Claims. - Positive factor: Indicated Resource - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 87,643 Context: 1.33 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-12) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:39f4375200d3acffc935 - Deposit or zone: Open Pit - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 3988000 - Grade: 0.57 - Grade Unit: g/t - Contained Metal: 73 - Contained Unit: koz - Cutoff Grade: 0.28 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 120 - Prior Cutoff Grade: 0.36 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Open Pit Inferred resource shows a decline in contained gold despite a lower cut-off grade and higher gold price, indicating a reduction in this category's potential. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource - Negative factor: Contained Metal Decline - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 3,988 Context: 0.57 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 73 against 120 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.28 against 0.36 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-13) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:80f0f30da3246a237cd9 - Deposit or zone: Underground \(ex. Interlake\) - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 5810000 - Grade: 2.81 - Grade Unit: g/t - Contained Metal: 525 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 540 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Underground \(ex. Interlake\) Inferred resource shows good grade, contributing to the overall MRE, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 5,810 Context: 2.81 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 525 against 540 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-14) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:c32606f3a9a3d716ac12 - Deposit or zone: Interlake Claims - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 2330000 - Grade: 3.58 - Grade Unit: g/t - Contained Metal: 268 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Interlake Claims Inferred resource shows good grade, contributing to the overall MRE, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 2,330 Context: 3.58 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-15) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:4d179cff0e17312971e1 - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 8140000 - Grade: 3.03 - Grade Unit: g/t - Contained Metal: 793 - Contained Unit: koz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 540 - Prior Cutoff Grade: 2.4 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The Total Underground Inferred resource shows a significant increase in contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 8,140 Context: 3.03 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 793 against 540 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 1.8 against 2.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-16) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:fbd6693c5049d407a733 - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 12128000 - Grade: 2.22 - Grade Unit: g/t - Contained Metal: 866 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 - Prior Contained Metal: 658 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total Inferred resource shows a significant increase in contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · text > Inferred Mineral Resources \(100% basis\) of 12.1 Mt at 2.22 g/t Au for 0.9 Moz Au #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 866 against 658 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-17) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:4060d03170cb631f7d6f - Mining method: combined - Resource basis: attributable #### Resource Data - Category: inferred - Tonnes: 10963000 - Grade: 2.08 - Grade Unit: g/t - Contained Metal: 732 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The total attributable Inferred resource shows a significant increase in contained gold, contributing to the overall MRE growth, though influenced by lower cut-off grades and higher gold price assumptions. - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource - Negative factor: Cut-off Lowered - Negative factor: Gold Price Increase Evidence · table > 10,963 Context: 2.08 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/hemlo-mining-corp-announces-increased-mineral-resource-estimate-for-the-hemlo-go--4a0481be-2f5b-4425-b754-937d1bd72ad4#fact-resource-facts-18) Hemlo Gold Mine · gold #### Identity - Project: Hemlo Gold Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario, Canada - Ticker: HMMC #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dr. Raphael Dutaut, Mr. Brian Hartman - Resource group id: resource:1e8b8441dc0e3f13a656 - Deposit or zone: A-Zone - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 635000 - Grade: 3.43 - Grade Unit: g/t - Contained Metal: 70000 - Contained Unit: oz - Cutoff Grade: 1.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-31 #### Lab - Laboratory: ALS Laboratories #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-25T00:00:00.000Z Reasoning: The newly identified A-Zone contributes a significant amount of high-grade Inferred gold resource, representing new exploration potential for the mine. - Positive factor: New Zone Identified - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Negative factor: Inferred Resource Evidence · text > "A-Zone" \(newly identified by the Company's Lead Director, Dr. Robert Quartermain\) included in the Inferred MRE; 635,000 tonnes at 3.43 g/t Au for 70,000 oz Au #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.