# EDGAR Filing Document

**Accession Number:** 0001718405
**File Stem:** 0001493152-26-007512
**Filing Date:** 2026-2
**Character Count:** 661330
**Document Hash:** 1f81e7b21fea6707eb9b92513bd346b9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-007512.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001493152-26-007512

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 71

**CONFORMED PERIOD OF REPORT**: 20260218

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260219

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HYCROFT MINING HOLDING CORP
- **CENTRAL INDEX KEY:** 0001718405
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 822657796
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38387
- **FILM NUMBER:** 26656361

**BUSINESS ADDRESS:**
- **STREET 1:** 4300 WATER CANYON ROAD
- **STREET 2:** UNIT 1
- **CITY:** WINNEMUCCA
- **STATE:** NV
- **ZIP:** 89445
- **BUSINESS PHONE:** 7753040260

**MAIL ADDRESS:**
- **STREET 1:** 4300 WATER CANYON ROAD
- **STREET 2:** UNIT 1
- **CITY:** WINNEMUCCA
- **STATE:** NV
- **ZIP:** 89445

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mudrick Capital Acquisition Corp
- **DATE OF NAME CHANGE:** 20171002

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K/A**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **February 18, 2026**

**<u>HYCROFT MINING HOLDING CORPORATION</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38387** | **82-2657796** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

---

| | |
|:---|:---|
| **P.O. Box 3030**<br> **Winnemucca, Nevada** | **89446** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code **<u>(775) 304-0260</u>**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A common stock, par value $0.0001 per share | HYMC | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**EXPLANATORY NOTE**

On February 18, 2026, Hycroft Mining Holding Corporation (the "Company") filed a Current Report on Form 8-K (the "Initial Form 8-K") reporting the results of its Hycroft Mine Initial Assessment and filing as Exhibit 96.1 a Technical Report Summary (the "Exhibit 96.1 TRS"). The version of the Exhibit 96.1 TRS that was issued to the market and posted on the Company's website was, and remains, accurate. However, due to a production error by the Company's financial printer, certain images in the Exhibit 96.1 TRS filed as an exhibit to the Initial Form 8-K were inadvertently misplaced. This Amendment No. 1 on Form 8-K/A is being filed solely to refile Exhibit 96.1 TRS in corrected form. No changes have been made to the substance of the Exhibit 96.1 TRS (including the text, data, conclusions, or estimates), other than correcting the placement of images. Except as expressly set forth herein, the Company is not amending any other information contained in the Initial Form 8-K.

**Item 7.01** **Regulation FD Disclosure.**

***News Release Announcing Initial Assessment and Technical Report Summary***

On February 18, 2026, Hycroft Mining Holding Corporation (the "Company") issued a news release announcing the completion of its Hycroft Mine Initial Assessment and Technical Report Summary (the "TRS"), which has been prepared in accordance with the requirements of subpart 1300 of Regulation S-K. A copy of the news release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The TRS supersedes and replaces the Hycroft Property Initial Assessment Technical Report Summary Humboldt and Pershing Counties, Nevada, with an effective date of March 27, 2023.

***Corporate Presentation***

On February 18, 2026, the Company furnished its updated corporate presentation to its website at www.hycroftmining.com. A copy of the updated corporate presentation is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information set forth in (i) this Item 7.01, (ii) the news release and (iii) the updated corporate presentation is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

**Item 8.01** **Other Events.**

On February 18, 2026, the Company announced that it had completed the TRS, effective January 21, 2026, which has been prepared in accordance with the requirements of subpart 1300 of Regulation S-K. The TRS was completed by Ausenco Engineering USA South Inc., Independent Mining Consultants, Inc. and WestLand Engineering & Environmental Services, Inc., each a "Qualified Person" as such term is defined in subpart 1300 of Regulation S-K. A copy of the TRS is attached hereto as Exhibit 96.1 to this Current Report on Form 8-K and is incorporated herein by reference.

**Item 9.01** **Financial Statements and Exhibits.**

(d) Exhibits:

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 23.1 | [Consent of Ausenco Engineering USA South Inc\*\*.](https://www.sec.gov/Archives/edgar/data/1718405/000149315226007255/ex23-1.htm) |
| 23.2 | [Consent of Independent Mining Consultants, Inc\*\*.](https://www.sec.gov/Archives/edgar/data/1718405/000149315226007255/ex23-2.htm) |
| 23.3 | [Consent of WestLand Engineering & Environmental Services, Inc\*\*.](https://www.sec.gov/Archives/edgar/data/1718405/000149315226007255/ex23-3.htm) |
| 96.1 | [Initial Assessment and Technical Report Summary on the Hycroft Mine\*](ex96-1.htm) |
| 99.1 | [News Release dated February 18, 2026\*\*](https://www.sec.gov/Archives/edgar/data/1718405/000149315226007255/ex99-1.htm) |
| 99.2 | [Corporate Presentation posted February 18, 2026\*\*](https://www.sec.gov/Archives/edgar/data/1718405/000149315226007255/ex99-2.htm) |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |

---

\* Filed herewith

\*\*Previously filed

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **HYCROFT MINING HOLDING CORPORATION** | **HYCROFT MINING HOLDING CORPORATION** |
| Date: February 19, 2026 | By: | */s/ Rebecca A. Jennings* |
|  |  | Rebecca A. Jennings |
|  |  | Senior Vice President and General Counsel |

---

## Ex-99

**Exhibit 96.1**

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

HYCROFT MINE

**Hycroft Technical Report Summary and Initial Assessment**

Nevada, USA

Effective Date: January 21, 2026

**Prepared for**

Hycroft Mining Holding Corporation

PO Box 3030<br> Winnemucca, NV 89446

**Prepared by**

Ausenco Engineering South USA

**Contributing Authors:**

Ausenco Engineering South USA Inc.

Hycroft Mining Holding Corporation

Independent Mining Consultants Inc.

WestLand Engineering & Environmental Services, Inc.

![](ex_001.jpg)

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Date and Signature Page

This technical report summary ("TRS"), entitled "Initial Assessment and Technical Report Summary on the Hycroft Mine Project, Nevada, US is current as of January 21, 2026, and has been prepared by:

---

| | | | |
|:---|:---|:---|:---|
| **Qualified Person or Consulting Firm** | **Responsible for the following sections** | **Signature** | **Date** |
| Ausenco Engineering South USA, Inc. | 1.1, 1.2, 1.3, 1.8, 2.1-2.4.1, 2.5-2.7, 3.1-3.7, 3.10-3.12, 4, 10, 12-19, 21, 22.1 22.2, 22.5, 22.7.1.3, 22.7.2.2, 23.3. 23.5 and portions of sections 1.10, 1.11, 24, and 25 | "signed" | January 21, 2026 |
| Hycroft Mining Holding Corporation | 1.4, 3.9 and 5 | "signed" | January 21, 2026 |
| Independent Mining Consultants, Inc. | 1.5, 1.6, 1.7, 1.9, 2.4.2, 6, 7, 8, 9, 11, 20, 22.3, 22.4, 22.6, 22.7.1.1, 22.7.1.2, 22.7.1.4, 22.7.2.1, 22.7.2.3 23.1, 23.2, 23.4 and portions of sections 1.10, 1.11, 24, and 25 | "signed" | January 21, 2026 |
| WestLand Engineering & Environmental Services, Inc. | 3.8 | "signed" | January 21, 2026 |

---

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table of Contents**

---

| | | | |
|:---|:---|:---|:---|
| 1 | Executive Summary | Executive Summary | 1 |
|  | 1.1 | Introduction | 1 |
|  | 1.2 | Terms of Reference | 1 |
|  | 1.3 | Mineral Tenure, Surface Rights, Water Rights, and Agreements | 2 |
|  | 1.4 | History | 2 |
|  | 1.5 | Geology and Mineralization | 3 |
|  | 1.6 | Exploration | 4 |
|  |  | 1.6.1 Exploration Targets | 4 |
|  | 1.7 | Sampling | 4 |
|  | 1.8 | Metallurgical Testwork | 4 |
|  | 1.9 | Mineral Resource Estimate | 5 |
|  | 1.10 | Conclusions | 9 |
|  | 1.11 | Recommendations | 9 |
| 2 | Introduction | Introduction | 10 |
|  | 2.1 | Introduction | 10 |
|  | 2.2 | Terms of Reference | 10 |
|  | 2.3 | Qualified Persons | 11 |
|  | 2.4 | Site Visits and Scope of Personal Inspection | 11 |
|  |  | 2.4.1 Site inspection for Jonathan Cooper | 11 |
|  |  | 2.4.2 Site inspection for John Marek | 11 |
|  | 2.5 | Effective Dates | 11 |
|  | 2.6 | Information Sources and References | 11 |
|  |  | 2.6.1 General | 11 |
|  |  | 2.6.2 Previous technical reports | 11 |
|  | 2.7 | Currency, Units, Abbreviations and Definitions | 12 |
| 3 | Property Description | Property Description | 16 |
|  | 3.1 | Introduction | 16 |
|  | 3.2 | Property and Title in Jurisdiction | 16 |
|  | 3.3 | Project Ownership | 17 |
|  | 3.4 | Property Agreements | 19 |
|  | 3.5 | Surface Rights | 22 |
|  | 3.6 | Water Rights | 22 |
|  | 3.7 | Liabilities and Encumbrances | 22 |
|  | 3.8 | Environmental Considerations | 22 |
|  | 3.9 | Safety Considerations | 23 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| i

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | 3.10 | Permitting Considerations | 23 |
|  |  | 3.10.1 Hycroft Expansion Permitting and Timelines | 25 |
|  |  | 3.10.2 Crofoot Heap Leach Facility Closure | 27 |
|  | 3.11 | Social License Considerations | 27 |
|  | 3.12 | Project risks and uncertainties | 27 |
| 4.0 | Accessibility, Climate, Local Resources, Infrastructure and Physiography | Accessibility, Climate, Local Resources, Infrastructure and Physiography | 28 |
|  | 4.1 | Physiography | 28 |
|  | 4.2 | Accessibility | 28 |
|  | 4.3 | Climate | 28 |
|  | 4.4 | Local Resources and Infrastructure | 28 |
|  | 4.5 | Seismicity | 31 |
| 5.0 | History | History | 32 |
|  | 5.1 | Regional History | 32 |
|  | 5.2 | Property Exploration History | 32 |
|  | 5.3 | Production | 33 |
| 6.0 | Geological Setting, Mineralization, and Deposit | Geological Setting, Mineralization, and Deposit | 35 |
|  | 6.1 | Geological Setting | 35 |
|  |  | 6.1.1 Regional Geology | 35 |
|  |  | 6.1.2 Local Geology | 35 |
|  | 6.2 | Mineralization and Alteration | 38 |
|  |  | 6.2.1 Brimstone | 38 |
|  |  | 6.2.2 Vortex | 39 |
|  |  | 6.2.3 Bay | 40 |
|  |  | 6.2.4 Central | 41 |
|  |  | 6.2.5 Camel | 42 |
|  | 6.3 | Deposit Types | 42 |
| 7.0 | Exploration | Exploration | 44 |
|  | 7.1 | Exploration | 44 |
|  | 7.2 | Geophysics | 44 |
|  | 7.3 | Soil Sampling | 44 |
|  | 7.4 | Rock-chip Sampling | 45 |
|  | 7.5 | Drilling | 45 |
|  |  | 7.5.1 Introduction | 45 |
|  |  | 7.5.2 Exploration Drilling | 45 |
|  | 7.6 | Hydrogeology | 50 |
|  | 7.7 | Geotechnical | 50 |
|  | 7.8 | Exploration Targets | 51 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| ii

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| 8.0 | Sample Preparation, Analyses, and Security | Sample Preparation, Analyses, and Security | 57 |
|  | 8.1 | Introduction | 57 |
|  | 8.2 | Sample Preparation | 57 |
|  | 8.3 | Assay Methods | 57 |
|  |  | 8.3.1 Sample Security | 60 |
|  | 8.4 | Sample Storage | 61 |
|  | 8.5 | Analytical Results | 61 |
|  | 8.6 | QP Comment | 61 |
| 9.0 | Data Verification | Data Verification | 62 |
|  | 9.1 | Verification Procedure | 62 |
|  | 9.2 | Certificate of Assay Checks | 62 |
|  | 9.3 | QA/QC 2005 - 2024 | 62 |
|  |  | 9.3.1 Standards 2005-2013 | 63 |
|  |  | 9.3.2 Blanks 2008 - 2014 | 66 |
|  |  | 9.3.3 Check Assays 2011-2012 | 66 |
|  |  | 9.3.4 Standards 2021 - 2022 | 68 |
|  |  | 9.3.5 Blank Analysis Results 2021-2022 | 69 |
|  |  | 9.3.6 Duplicate Assays, 2021-2022 | 70 |
|  |  | 9.3.7 Standards 2023 - 2024 | 71 |
|  |  | 9.3.8 Blanks 2023-2024 | 72 |
|  |  | 9.3.9 Duplicate Assays 2023-2024 | 73 |
|  |  | 9.3.10 Check Assays 2023-2024 | 76 |
|  |  | 9.3.11 DDH vs RC for Post 2000 Samples | 77 |
|  |  | 9.3.12 Old vs. New Drilling | 78 |
|  |  | 9.3.13 Downhole Surveys | 80 |
|  | 9.4 | QP Comment | 80 |
| 10.0 | Mineral Processing and Metallurgical Testing | Mineral Processing and Metallurgical Testing | 81 |
|  | 10.1 | Introduction | 81 |
|  | 10.2 | Metallurgical Testwork | 81 |
|  |  | 10.2.1 Summary of Metallurgical Testwork Programs | 81 |
|  |  | 10.2.2 Mineralized Materials and Sampling | 82 |
|  |  | 10.2.3 Hycroft Mineralization Domains | 82 |
|  | 10.3 | Legacy Testwork | 83 |
|  |  | 10.3.1 Comminution Tests | 83 |
|  |  | 10.3.2 Flotation | 84 |
|  |  | 10.3.3 Direct Cyanidation | 94 |
|  |  | 10.3.4 Concentrate Oxidation Tests | 94 |
|  |  | 10.3.5 Solid-Liquid Separation Tests | 100 |
|  |  | 10.3.6 Deleterious Elements | 101 |
|  |  | 10.3.7 Metallurgical Parameters for Process Design Criteria and Financial Analysis | 101 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| iii

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| 11.0 | Mineral Resource Estimates | Mineral Resource Estimates | 102 |
|  | 11.1 | Summary | 102 |
|  | 11.2 | Model Location | 102 |
|  | 11.3 | Database | 102 |
|  | 11.4 | Basic Statistics | 103 |
|  | 11.5 | Geology | 104 |
|  | 11.6 | Lithology | 104 |
|  | 11.7 | Alteration | 106 |
|  | 11.8 | Structure | 107 |
|  | 11.9 | Domains | 108 |
|  | 11.10 | Assay Caps | 111 |
|  | 11.11 | Bench Height Confirmation | 112 |
|  | 11.12 | Composites | 113 |
|  | 11.13 | Variography | 119 |
|  | 11.14 | Block Grade Estimation | 120 |
|  |  | 11.14.1 Gold | 120 |
|  |  | 11.14.2 Silver | 121 |
|  |  | 11.14.3 Cyanide Ratio | 124 |
|  |  | 11.14.4 Sulfide Sulfur | 125 |
|  |  | 11.14.5 Density | 126 |
|  |  | 11.14.6 Stockpile Grade Estimation | 126 |
|  |  | 11.14.7 Treatment of 1982 - 1987 Data | 127 |
|  | 11.15 | Classification | 128 |
|  | 11.16 | Model Verification | 129 |
|  |  | 11.16.1 Swath Plots | 131 |
|  |  | 11.16.2 Smear Check | 135 |
|  | 11.17 | Mineral Resource Estimate | 136 |
| 12.0 | Mineral Reserve Estimates | Mineral Reserve Estimates | 144 |
| 13.0 | Mining Methods | Mining Methods | 145 |
| 14.0 | Recovery Methods | Recovery Methods | 146 |
| 15.0 | Infrastructure | Infrastructure | 147 |
| 16.0 | Market Studies and Contracts | Market Studies and Contracts | 148 |
| 17.0 | Environmental Studies, Permitting, and Plan, Negotiations, or Agreements with Local Individuals or Groups | Environmental Studies, Permitting, and Plan, Negotiations, or Agreements with Local Individuals or Groups | 149 |
| 18.0 | Capital and Operating Costs | Capital and Operating Costs | 150 |
| 19.0 | Economic Analysis | Economic Analysis | 151 |
| 20.0 | Adjacent Properties | Adjacent Properties | 152 |
| 21.0 | Other Relevant Data and Information | Other Relevant Data and Information | 154 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| iv

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| 22 | Interpretation and Conclusions | Interpretation and Conclusions | 155 |
|  | 22.1 | Introduction | 155 |
|  | 22.2 | Mineral Tenure, Surface Rights, Water Rights, Royalties, and Agreements | 155 |
|  | 22.3 | Geology and Mineralization | 155 |
|  | 22.4 | Exploration | 155 |
|  | 22.5 | Metallurgical Testwork | 155 |
|  | 22.6 | Mineral Resource Estimates | 156 |
|  | 22.7 | Risks and Opportunities | 158 |
|  |  | 22.7.1 Risks | 158 |
|  |  | 22.7.2 Opportunities | 159 |
| 23 | Recommendations | Recommendations | 160 |
|  | 23.1 | Exploration | 160 |
|  | 23.2 | Sample Preparation, Analysis and Security | 160 |
|  | 23.3 | Metallurgical Testing | 160 |
|  | 23.4 | Mineral Resource Estimate | 161 |
|  | 23.5 | Estimated Program Costs | 161 |
| 24 | References | References | 162 |
| 25 | Reliance on Other Experts | Reliance on Other Experts | 165 |
| Appendix A Hycroft Patented Claims | Appendix A Hycroft Patented Claims | Appendix A Hycroft Patented Claims | A |
| Appendix B Hycroft Unpatented Claims | Appendix B Hycroft Unpatented Claims | Appendix B Hycroft Unpatented Claims | B |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| v

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

List of Tables

---

| | | |
|:---|:---|:---|
| Table 1-1: | Hycroft Mineral Resources as of 21 January 2026, Imperial Units | 6.0 |
| Table 1-2: | Hycroft Mineral Resources as of 21 January 2026, Metric Units | 7.0 |
| Table 1-3: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 2 oz/ton Cutoff Grade, Imperial Units | 8.0 |
| Table 1-4: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 68.57 g/t (2 oz/ton) Cutoff Grade, Metric Units | 8.0 |
| Table 2-1: | Abbreviations and Acronyms | 12.0 |
| Table 2-2: | Units of Measurement | 14.0 |
| Table 3-1: | Hycroft Annual Land Holding Costs | 19.0 |
| Table 3-2: | Hycroft Operating Permits | 23.0 |
| Table 3-3: | Hycroft Miscellaneous Permits | 24.0 |
| Table 3-4: | Hycroft Miscellaneous Permits | 25.0 |
| Table 3-5: | Right-of-Way Payment and Renewal Schedule | 25.0 |
| Table 4-1: | Hycroft Water Wells and Permitted Yearly Consumption | 31.0 |
| Table 7-1: | Drilling from 2023 and 2024 Supporting an Updated Mineral Resource Estimation | 48.0 |
| Table 7-2: | Significant Intercepts (2023) | 51.0 |
| Table 7-3: | Significant Intercepts (2024) | 53.0 |
| Table 9-1: | Nearest Neighbor Sample Comparison of RC vs Diamond Core Gold and Silver Assays | 78.0 |
| Table 9-2: | Nearest Neighbor Sample Comparison of 1982-1987 Gold Assays versus 2005 - 2024 Gold Assays | 79.0 |
| Table 10-1: | Metallurgical Testwork Summary Table | 81.0 |
| Table 10-2: | Average Sulfur Contents of Oxide, Transition and Sulfide Mineralized Materials | 82.0 |
| Table 10-3: | Summary of Test Samples | 83.0 |
| Table 10-4: | Grindability Test Summary | 83.0 |
| Table 10-5: | G&T Composites 1 through 24 Flotation Test Results | 85.0 |
| Table 10-6: | G&T Composites M-1 through M-17 Flotation Test Results | 86.0 |
| Table 10-7: | Flotation Reagent Schemes Studied | 87.0 |
| Table 10-8: | Estimated Metallurgical Recoveries from 2016 Feasibility Study - Gold and Silver | 94.0 |
| Table 10-9: | Hycroft Alkaline POX Testwork Summary | 97.0 |
| Table 10-10: | Hycroft Acid POX Testwork Summary | 98.0 |
| Table 10-11: | Summary Comparison Table - POX 3 to POX-7 | 100.0 |
| Table 10-12: | Settling Test Results | 101.0 |
| Table 10-13: | Deleterious Element Assay | 101.0 |
| Table 10-14: | Process Plant Overall Recovery Prediction | 101.0 |
| Table 11-1: | Block Size and Model Size | 102.0 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| vi

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | |
|:---|:---|:---|
| Table 11-2: | Data Available for the Assembly of the Resource Model for Au, Ag, AuCn, Sulfide Sulfur | 103 |
| Table 11-3: | Assay Database (No Stockpile Assays, Inside the Model, and No Drilling from 1982 through 1987) | 104 |
| Table 11-4: | Population Domains for Grade Estimation | 108 |
| Table 11-5: | High-grade Silver Vein Domains | 109 |
| Table 11-6: | Sulfide Domains | 109 |
| Table 11-7: | Assay Cap Values | 111 |
| Table 11-8: | Sulfide Cap Values Prior to Compositing | 112 |
| Table 11-9: | Basic Statistics of Composites, In-Situ Rock, Eliminating Years 1982 to 1987 | 114 |
| Table 11-10: | Basic Statistics of 25 ft Sulfide Composites by Sulfide Domain | 118 |
| Table 11-11: | Grade Estimation Parameters for Au, Ag | 121 |
| Table 11-12: | Estimation Parameters for Cyanide Ratio, All Three Domains utilized 1/D<sup>3</sup> | 125 |
| Table 11-13: | Sulfide Sulfur Estimation Parameters, All Three Domains Utilized 1/D<sup>3</sup> | 125 |
| Table 11-14: | Sulfide Sulfur Default Values if Not Estimated | 126 |
| Table 11-15: | Density Assigned to the Block Model | 126 |
| Table 11-16: | Stockpiles Assigned Grades by Inverse Distance Estimation | 127 |
| Table 11-17: | IMC Smear Check | 135 |
| Table 11-18: | Economic and Technical Parameters for Hycroft Mineral Resource | 138 |
| Table 11-19: | Hycroft Mineral Resources as of 21 January 2026, Imperial Units | 139 |
| Table 11-20: | Hycroft Mineral Resources as of 21 January 2026, Metric Units | 140 |
| Table 11-21: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 2 oz/ton Cutoff Grade, Imperial Units | 141 |
| Table 11-22: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 3 oz/ton Cutoff Grade, Imperial Units | 141 |
| Table 11-23: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 4 oz/ton Cutoff Grade, Imperial Units | 142 |
| Table 11-24: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 68.57 g/t (2 oz/ton) Cutoff Grade, Metric Units | 142 |
| Table 11-25: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 102.86 g/t (3 oz/ton)<br> Cutoff Grade, Metric Units | 143 |
| Table 11-26: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 137.14 g/t (4 oz/ton) Cutoff Grade, Metric Units | 143 |
| Table 22-1: | Hycroft Mineral Resources as of 21 January 2026, Imperial Units | 157 |
| Table 22-2: | High-grade Silver Bearing Domains, Contained within the Mineral Resource at 2 oz/ton Cutoff Grade, Imperial Units | 158 |
| Table 23-1: | Estimated Program Costs | 161 |
| Table 25-1: | Information Provided by Hycroft | 165 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| vii

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

List of Figures

---

| | | |
|:---|:---|:---|
| Figure 3-1: | Hycroft Mine Location Map | 17 |
| Figure 3-2: | Claim Map | 20 |
| Figure 3-3: | Current Property and Facilities Layout (2025) | 21 |
| Figure 4-1: | Onsite Lab, Admin, Maintenance, Truck Shop, and Warehouse | 29 |
| Figure 4-2: | Crusher and Conveyor Belt Circuit | 29 |
| Figure 4-3: | North Merrill-Crowe Facility | 30 |
| Figure 4-4: | Stage 1 Heap Leach Pad and Ponds Along Jungo Road | 30 |
| Figure 6-1: | Stratigraphic Column for Hycroft Deposit Area | 36 |
| Figure 6-2: | Simplified East-West Cross Section through the Hycroft Mine - Section 40600 N | 37 |
| Figure 6-3: | Vortex Alteration Cross-Section - 40600 N | 40 |
| Figure 6-4: | Bay Geologic Cross-Section at 50300-N | 41 |
| Figure 6-5: | Generalized Epithermal Diagram | 43 |
| Figure 7-1: | Drill Collar Location Plan | 47 |
| Figure 9-1: | Results of Submitted Gold Standards 2005 - 2013 | 64 |
| Figure 9-2: | Results of Submitted Silver Standards 2005-2013 | 65 |
| Figure 9-3: | Results of Blank Submissions | 66 |
| Figure 9-4: | Check Assay Results, Fire Assay Gold 2011 - 2012 | 67 |
| Figure 9-5: | Check Assay Results, Fire Assay Silver 2011 - 2011 | 68 |
| Figure 9-6: | Standards Results, 2021 - 2022 | 69 |
| Figure 9-7: | Blank Results, 2021 - 2022 | 70 |
| Figure 9-8: | Duplicate Assay Results, 2021 - 2022 | 70 |
| Figure 9-9: | Gold Standards 2023 - 2024 | 71 |
| Figure 9-10: | Blank Insertions 2004 | 72 |
| Figure 9-11: | Gold Duplicates, 2023-2024 | 74 |
| Figure 9-12: | Silver Duplicates, 2023-2024 | 75 |
| Figure 9-13: | Gold Check Assays 2023 - 2024 | 76 |
| Figure 9-14: | Silver Check Assays, 2023-2024 | 77 |
| Figure 10-1: | Recovery Vs. Time Plot, G&T Kamloops Tests, M Composites | 88 |
| Figure 10-2: | Gold Grade Distribution Chart | 89 |
| Figure 10-3: | Silver Grade Distribution Chart | 90 |
| Figure 10-4: | Total Sulfur Grade Distribution | 90 |
| Figure 10-5: | Sulfide Sulfur Grade Distribution | 91 |
| Figure 10-6: | FLS Variability Flotation Recoveries under Optimal Conditions (137 Test Samples) | 92 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| viii

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | |
|:---|:---|:---|
| Figure 10-7: | FLS Variability Flotation Gold Recoveries Based on Gold Head Grade Groups | 93 |
| Figure 10-8: | FLS Variability Flotation Silver Recoveries Based on Head Grade Groups | 93 |
| Figure 10-9: | Oxidation of Central Flotation Concentrate: Sulfate Spike Test | 96 |
| Figure 10-10: | Demonstration Plant Cyanide Leach Recovery of Au and Ag | 96 |
| Figure 11-1: | East-West Cross-Section 44000-N Looking North, showing Lithology Types | 105 |
| Figure 11-2: | East-West Cross-Section 44000-N Looking North, showing Alterations | 106 |
| Figure 11-3: | Structure and Domain Interpretation (plan view) | 107 |
| Figure 11-4: | Structure and Domain Interpretation with Silver Wireframes (plan view) | 110 |
| Figure 11-5: | Bench Height Analysis | 113 |
| Figure 11-6: | Gold Variograms for Silicic Material Between the Central Fault and East Fault | 119 |
| Figure 11-7: | Gold Variograms for Silicic Material Between the Range Fault and Central Fault | 120 |
| Figure 11-8: | E-W Cross-section at 41000-N, Showing Confidence Codes | 129 |
| Figure 11-9: | E-W Cross-section at 41000-N, Visual Check of Gold Grades in Drillholes and Block Model | 130 |
| Figure 11-10: | E-W Cross-section at 41000-N, Visual Check of Silver Grades in Drillholes and Block Model | 131 |
| Figure 11-11: | Swath Plots for Gold, X = East and Y = North Slices, 160 ft Wide Slices | 132 |
| Figure 11-12: | Swath Plots for Silver, X = East and Y = North Slices, 160 ft Slices | 133 |
| Figure 11-13: | Swath Plots for Sulfide Sulfur, X = East and Y = North Slices, 160 ft Slices | 134 |
| Figure 20-1: | Location of Rosebud Property | 152 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| ix

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

1 Executive Summary

1.1 Introduction

This technical report summary ("TRS") has been prepared by Ausenco Engineering USA South Inc. ("Ausenco"), Independent Mining Consultants, Inc. ("IMC"), and WestLand Engineering & Environmental Services, Inc. ("Westland") for Hycroft Mining Holding Corporation ("Hycroft"), following the reporting requirements of the United States ("US") Securities and Exchange Commission's ("SEC") Modernization of Property Disclosures of Mining Registrants under subpart 1300 and item 601 (96)(B)(iii) of Regulation S-K for an initial assessment ("IA").

This TRS provides an update to the Mineral Resource Estimate ("MRE") in Hycroft's Initial Assessment ("IA"), filed on Electronic Data Gathering, Analysis, and Retrieval ("EDGAR"), under Form 8-K on March 27, 2023. The MRE is based on a milling and pressure oxidation ("POX") process for sulfide and some transition mineralization and heap leaching process for oxide and some transition mineralization. This TRS includes drill results received through March 17, 2025, which formed the basis of this mineral resource estimation model, and this updated report.

The Hycroft mine ("the Mine") 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. The Mine property straddles Townships 34, 35, 35½ and 36 north and Ranges 28, 29 and 30 east (MDB&M) with its central coordinates at approximately latitude 40°52' north and longitude 118°41' west.

The Mine is accessible via Nevada State Route 49 (Jungo Road), an unpaved road maintained by Humboldt County and Pershing County and Hycroft. The Union Pacific railway, a major east–west railway, runs immediately adjacent to the property.

Hycroft, a past producer, has existing facilities on site including two administration buildings, a mobile maintenance shop, a light vehicle maintenance shop, a warehouse, leach pads, primary, secondary and tertiary crushing systems, an assay lab, two Merrill-Crowe process plants, and a refinery.

1.2 Terms
 of Reference

The firms and consultants who are providing Qualified Persons ("QPs") responsible for the content of the TRS are, in alphabetical order, Ausenco, Hycroft, IMC and WestLand.

The TRS presents the MRE for the mine based on the Pressure Oxidation (POX) and Heap Leach processes.

All units of measurement in the TRS are imperial, unless otherwise stated.

The monetary units are in US dollars, unless otherwise stated.

Mineral resources and mineral reserves are reported in accordance with the US Securities and Exchange Commission Code of Federal Regulations, Subpart 229.1300 – Disclosure by Registrants Engaged in Mining operations ("S-K 1300").

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 1

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

1.3 Mineral
 Tenure, Surface Rights, Water Rights, and Agreements

The Mine property consists of 25 private parcels with patented claims totaling approximately 1,855 acres, along with 3,249 unpatented mining claims covering approximately 62,298 acres, for a combined total of approximately 64,000 acres. On May 15, 2023, Hycroft expanded its holdings by acquiring a 50% undivided interest in three additional patented mining claims, adding approximately 61 acres at one location in Northern Nevada. Some mining claims overlap other Hycroft Mining claims to ensure there are no fractional gaps in mining claim coverage.

These claims are contiguous or proximate to the original Crofoot and Lewis claims.

Payment of annual claim maintenance and holding fees to the Bureau of Land Management ("BLM") and Humboldt and Pershing Counties and payment of annual real property taxes for patented claims in Humboldt and Pershing Counties are made every third quarter. Payments are current through the 2025 - 2026 claim years, with US$711,551 paid for 2025 - 2026. Payment of annual claim maintenance and holding fees and real property taxes are required to hold the Hycroft property in good standing. BLM annual maintenance fees for claims are due not later than September 1 of each year. Humboldt and Pershing County State annual holding fees beginning September 1 of each year are due no later than November 1 of each year. Annual real property taxes for patented claims in Humboldt and Pershing Counties are due August 31 of the following year.

Hycroft controls all surface and mineral rights within the Hycroft mineral resource area. No further land acquisition is required for the operation of the mine and contemplated processing facilities.

1.4 History

The Mine location is in the Nevada Sulfur District, where mining for native sulfur began in the late 1800's. Then, in the early part of the 20<sup>th</sup> century high-grade Ag was mined as were veins of nearly pure alunite (hydroxylated aluminum potassium sulfate mineral) in the southern part of the district. From 1941 to 1943, cinnabar (a mercury sulfide mineral) was also mined. Exploration for native sulfur commenced again in 1966 with the Duval Corporation (Duval) reporting elevated Au and Ag values but finding no significant evidence of a sulfur deposit at depth (Wallace, 1980).

In 1977, the Cordex Syndicate mapped and rock-chip sampled the Hycroft property, recognizing the potential for a bulk tonnage, low-grade precious metal deposit. Homestake then took interest in the property and completed surface sampling and exploration drilling during 1981-1982. Mining officially began as a small heap leach operation in 1983 at what was then known as the Lewis Mine. In 1985, Vista gained control of the original Hycroft property. They also acquired the Lewis Mine in early 1987 from F. W. Lewis, Inc., and the Crofoot Mine in April 1988. From 1985 to 1999, they drilled 3,212 exploration holes, totaling 965,552 feet ("ft") with the bulk of this drilling focused on oxide gold mineralization at Central, Bay and Brimstone. Production from the Brimstone pit commenced in 1985 and continued until December 1998.

During 1983 to 1998, the Mine produced approximately 1.2 million ounces ("Moz") of Au and 2.5 Moz of Ag. An additional 58,700 ounce ("oz") of Au was produced from the leaching operations from 1999 through 2004. The remaining leasehold interest in the Lewis property was purchased by Vista in December 2005. Production followed at the former Crofoot property in the Bay, South Central, Boneyard, Gap, and Historic Cut-4 pits along the Central Zone. The Mine was placed on a care and maintenance program through 2007. In May 2007, the Nevada-based holdings of Vista were spun out into Allied Nevada Gold Corp. ("Allied Nevada"). The Mine was included as part of the transfer of ownership allowing Allied Nevada to explore, expand, and develop the resources. The Mine was reactivated in September 2007 and achieved planned ore production by the end of 2009. With the construction of the North leach pad in 2013, the total leach pad space was increased to more than 20 million square ft. In 2010, the Mine began an expansion program that included construction of a 21,000 gallon per minute ("gal/min.") Merrill-Crowe processing plant and a three-stage crushing facility as well as solution pumping capacity upgrades. Active mining was stopped again at the Mine in June 2015 due to low metal prices, but active leaching of previously mined ore continued through 2018. During this time, Allied Nevada emerged from its financial restructuring to become Hycroft Mining Corporation.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 2

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

In late 2018, Hycroft began construction of new leach pads. In April 2019, active mining began with a focus on transition and sulfide minerals but were set aside for future processing. Active mining ceased in 2021, but gold and silver production continued through 2022.

From September 2007 through July 2019 metal sales totaled approximately 900,000 oz of Au and 5.0 Moz of Ag. Active mining ceased and production at the Mine was terminated on November 11, 2021. Annual sales in ounces of Au and Ag produced from the Mine's heap leach operations over years 2019 through 2022 total approximately 107,258 ounces of Au and 615,000 ounces of Ag.

1.5 Geology
 and Mineralization

The Hycroft deposit is a low-sulfidation, epithermal, hot springs system that contains gold and silver mineralization. Radiometric dating indicates that the main phase of gold and silver mineralization formed four million years ago, when hydrothermal fluids were fed upward along high angle, normal faults.

Low-grade gold and silver mineralization was co-deposited with silica and potassium feldspar throughout porous rock types.

A subsequent drop in permeability, due to sealing of the system, led to over pressuring and subsequent repeated hydrothermal brecciation. Additional precious metal mineralization was deposited during this event as breccia zones, veins, and sulfide flooding.

Gold and silver mineralization was followed by an intense event of high sulfidation acid leaching of the mineralized volcanic rocks coincident with a regional water table drop. This allowed steam heated sulfur gases to condense into sulfuric acid and leach the upper portion of the mineralized rocks.

Oxidation of sulfide mineralization occurs to variable depths over the deposit, depending upon proximity to faults, extent of acid leaching, and depth to water table. Sulfide content through the deposit is variable from 0% to 20%.

Six major north-northeast trending, west dipping, normal fault zones appear to broadly control the distribution of alteration. From west to east, these fault zones are referred to as the Range, West Splay, Central, Break, Albert, and East Faults. These major structures down-drop stratigraphy and affect the distribution of alteration and mineralization.

A post-mineral basin bounding fault appears to border the Camel Conglomerate and the adjacent Pleistocene Lahontan Lake sediments in the Black Rock Desert. Based on geophysics, this structure is approximately one to two miles west of the Mine site. There are several east–west trending structures that appear to provide post-mineral offset to the deposit. These form a series of horst and grabens within the deposit footprint.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 3

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

1.6 Exploration

The Hycroft drill history covers the period from 1982 through 2024. Within the block model there are 5,813 drillholes, with 516,901 drill intervals amounting to 2,668,616 ft of drilling.

During 2021 through 2024, Hycroft drilled 260 holes, 105 in 2021, 85 in 2022, 49 in 2023 and 21 in 2024. Most of the 2021 drilling was diamond core that was used for metallurgical testing and assay. The 2022 and 2023 drilling focused on extending mineralization and upgrading areas from Inferred to Measured and Indicated classification. The 2024 drilling focused on high-grade mineralization in Brimstone and Vortex.

1.6.1 Exploration
 Targets

In mid-2022 Hycroft restarted exploration drilling with the primary goal of converting waste material and Inferred resource into measured and indicated resource. The drilling was predominantly reverse circulation (RC), and RC with core tails occurring on the deeper (1,800 ft) holes. In the second half of 2023, the program was re-aligned with recognition of significant silver grades within subvertical thin veining in Brimstone and within a low angle breccia body at Vortex. Subsequently, the drilling method was switched to core only to better understand and define structural complexities at Brimstone and Vortex. The drilling in Brimstone indicates the zone of veining is related to a structural dilation zone between East Fault related structures. The geometry of the high-grade Brimstone deposit has not been fully defined and remains open at depth and along strike. The drilling in Vortex, along with additional mapping east on the trend of the Vortex mineralization, indicates the Vortex deposit is related to a pre-mineral detachment fault. Exploration targets were also identified outside the resource area to the east (Manganese and Wildrose) and south (Oscar) with work on these areas including detailed field mapping, soil and rock-chip geochemistry, induced polarization ("IP") geophysics, and core drilling. Additionally, exploration work was initiated at Bay to start defining vein geometry as it extends below the current resource.

1.7 Sampling

Hycroft provided IMC with the database which contained drilling information from 1982 through 2024. Assay data was received through March 2025.

The current sample preparation analysis and security follow best practices and are acceptable for application to mineral resource reporting.

The historic data collection is unknown. Components of the historic data have been found to be reliable. Some components are not reliable and have been removed or modified prior to incorporation into the mineral resources.

After the noted adjustments, John Marek, the Qualified Person ("QP") finds the data applicable to the determination of mineral resources.

1.8 Metallurgical
 Testwork

Comminution testwork demonstrates that Hycroft mineralization exhibits very high rock competency in both the semi-autogenous grinding ("SAG") and ball mill grinding.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 4

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

In 2021, Hycroft initiated a new metallurgical variability study to evaluate mineralized material characteristics within the current mine plan, validate the metallurgical behavior of material across the mine site; and identify potential variations in processing conditions required to recover gold and silver. The objective of the study was to support development of a robust Hycroft process flowsheet, including definition of key process control points in crushing, grinding, capable of consistently achieving gold and silver recoveries across anticipated metallurgical variability.

Key outcomes of this study included the development of the flotation process with significantly improved recoveries. The following key process controls parameters were identified during the flotation process development program:

● Optimal
 grind size is a P80 of less than 85 micrometer ("µm").

● Flotation
 time is 24 minutes.

● Adjusted
 pH level is 4.7.

● Flotation
 mass pull is 20% to 25% with 22% being the target.

A total of 137 samples were tested under these selected conditions to achieve higher gold and silver recoveries to flotation concentrate. The results show that gold recovery exhibits a broader distribution, with values ranging from approximately 72% to 98% and a statistical median near 88%, indicating greater sensitivity to operating conditions. In contrast, silver recovery is generally higher, with recoveries spanning approximately 76% to 100% and a statistical median exceeding 92%. This is a significant improvement from the gold flotation recovery and silver flotation recovery values reported in the 2023 Technical Report.

In 2025, Hycroft completed a series of POX tests demonstrating that POX at 225°C with oxygen overpressure, followed by hot cure, lime boil, and cyanide leaching, is a technically viable and repeatable processing route for the pyrite concentrate. Gold and silver recoveries of approximately 93% and 86%, respectively, were consistent with past performance. Overall, considering the full flowsheet involving flotation, POX, and leaching, gold recovery has improved to approximately 83% and silver recovery has improved to approximately 78%. Overall recovery for both gold and silver are exceeding the values assumed in the 2023 Technical Report.

Hycroft existing heap leaching was discontinued by 2022. Heap leach operations are expected to restart once new oxide material becomes available.

1.9 Mineral
 Resource Estimate

The mineral resource at the Hycroft property is currently envisioned to be produced from a conventional hard rock open pit mine feeding two alternative process facilities:

1. Run-of-mine
 ("ROM") oxide material will be directed to cyanide heap leaching, producing a
 gold and silver doré.

2. Sulfide
 material will be directed to a crushing, flotation milling followed by POX of the concentrate
 to make a gold and silver doré.

Transitional material will be directed to either (ROM) cyanide heap leaching or flotation milling followed by pressure oxidation ("POX") depending on the economics of the material.

The terms of reference for this estimate of mineral resources are mineralization in-place. The procedures described in the following paragraphs establish that the stated mineral resources have reasonable prospects of economic extraction.

Mineral resources were developed using a computer-based block model for mineralization and pit optimization software to determine mineralization with reasonable expectation of economic extraction as defined by S-K 1300.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 5

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The cutoff grade that is reported for this statement of mineral resources is based on mining and processing costs estimated by IMC and Ausenco combined with reasonable metal prices. The internal or marginal cutoff is applied and reported where the benefits of selling the recovered metal will pay for the processing and fixed general and administrative ("G&A") costs. The cutoff is presented in terms of Net of Refining which is often abbreviated as NSR.

Metal prices for mineral resource were US$3,100/ oz Au and US$36.00/ oz Ag. Spot prices for gold and silver in 2025 ranged from US$2,798 to US$4,323/ oz Au and US$31.34 to US$71.63/ oz Ag. The spot prices for gold and silver on January 21, 2026, were US$4,726/ oz Au and US$93.50/ oz Ag. The prices selected for determination of mineral resources are 35% below the spot gold price and 62% below the spot silver price on January 21, 2026, and do not include extensive price extrapolation.

The risks to the mineral resource are project costs and project recoveries as well as metal prices that can have a substantial impact on the mineral resource both positively and negatively. Hycroft mineral resources are sensitive to estimated parameters of operating costs, recoveries, and metal prices. That sensitivity may result in future variation in the mineral resource as costs and recoveries are refined.

Mineral resources are not mineral reserves, and detailed economic considerations have not been applied. Modifying factors for mine and process design have not been applied.

**Table 1-1: Hycroft Mineral Resources as of 21 January 2026, Imperial Units**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade**<br> **$ Net** <br> **of Refining / ton** | **Approximate**<br> **Cutoff, AuEq (oz/ton)** | **Ktons** | **Gold**<br> **(oz/ton)** | **Silver**<br> **(oz/ton)** | **Sulfide**<br> **Sulfur (%)** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade**<br> **$ Net** <br> **of Refining / ton** | **Approximate**<br> **Cutoff, AuEq (oz/ton)** | **Ktons** | **Gold**<br> **(oz/ton)** | **Silver**<br> **(oz/ton)** | **Sulfide**<br> **Sulfur (%)** | **Gold**<br> **Oz x 1000** | **Silver**<br> **Oz x 1000** |
| **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** |
| Measured | $1.88 - $3.63 | 0.001 - 0.002 | 92994 | 0.005 | 0.11 | 1.83 | 446 | 10322 |
| Indicated | $1.88 - $3.63 | 0.001 - 0.002 | 110374 | 0.004 | 0.09 | 1.54 | 475 | 9492 |
| Meas + Ind | $1.88 - $3.63 | 0.001 - 0.002 | 203368 | 0.005 | 0.10 | 1.67 | 921 | 19814 |
| Inferred | $1.88 - $3.63 | 0.001 - 0.002 | 110018 | 0.005 | 0.09 | 1.41 | 528 | 10122 |
| **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** |
| Measured | $16.73 | 0.007 | 734571 | 0.011 | 0.43 | 2.03 | 8154 | 316600 |
| Indicated | $16.73 | 0.007 | 748876 | 0.010 | 0.30 | 1.84 | 7339 | 226161 |
| Meas + Ind | $16.73 | 0.007 | 1483447 | 0.010 | 0.37 | 1.93 | 15493 | 542761 |
| Inferred | $16.73 | 0.007 | 459646 | 0.010 | 0.27 | 1.76 | 4505 | 122725 |
| **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** |
| Measured | $1.88 - $16.73 | 0.001 - 0.007 | 827565 | 0.010 | 0.40 | 2.01 | 8600 | 326922 |
| Indicated | $1.88 - $16.73 | 0.001 - 0.007 | 859250 | 0.009 | 0.27 | 1.80 | 7814 | 235653 |
| Meas + Ind | $1.88 - $16.73 | 0.001 - 0.007 | 1686815 | 0.010 | 0.33 | 1.90 | 16414 | 562575 |
| Inferred | $1.88 - $16.73 | 0.001 - 0.007 | 569664 | 0.009 | 0.23 | 1.69 | 5033 | 132847 |

---

Notes:

1. Mineral
 resources based on metal prices of $3,100/troy oz Au and $36.00/troy oz Ag

2. Cutoffs
 are Income – Refining Cost = NSR

3. Gold
 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 Assay

4. Gold
 Equivalent for Mill + Pressure Oxidation = Fire Gold + 0.0107 x Total Silver Assay

5. Numbers
 may not match exactly due to rounding

6. Mineral
 resources are contained within a computer-generated optimized pit

7. Total
 material in that pit is 5.42 billion tons

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 6

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

8. Mineral
 resources are not mineral reserves, and detailed economic considerations have not been applied

9. Modifying
 factors for mine and process design have not been applied

10. All
 units are imperial. Ktons means 1,000 short tons of 2,000 lbs Au and Ag grades are in troy
 ounces per short ton (oz/ton)

**Table 1-2: Hycroft Mineral Resources as of 21 January 2026, Metric Units**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade**<br> **$ Net** <br> **of Refining/tonne** | **Approximate**<br> **Cutoff, AuEq g/t** | **Ktonnes** | **Gold** | **Silver** | **Sulfide** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade**<br> **$ Net** <br> **of Refining/tonne** | **Approximate**<br> **Cutoff, AuEq g/t** | **Ktonnes** | **Gold** | **Silver** | **Sulfide** | **Gold** | **Silver** |
| **Classification** | **Cutoff Grade**<br> **$ Net** <br> **of Refining/tonne** | **Approximate**<br> **Cutoff, AuEq g/t** | **Ktonnes** | **g/t** | **g/t** | **%** | **Oz x 1000** | **Oz x 1000** |
| **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** |
| Measured | $2.07 - $4.00 | 0.027 - 0.055 | 84364 | 0.164 | 3.80 | 1.83 | 446 | 10322 |
| Indicated | $2.07 - $4.00 | 0.027 - 0.055 | 100131 | 0.147 | 2.95 | 1.54 | 475 | 9492 |
| Meas + Ind | $2.07 - $4.00 | 0.027 - 0.055 | 184495 | 0.155 | 3.34 | 1.67 | 921 | 19814 |
| Inferred | $2.07 - $4.00 | 0.027 - 0.055 | 99808 | 0.164 | 3.15 | 1.41 | 528 | 10122 |
| **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** |
| Measured | $18.44 | 0.206 | 666403 | 0.380 | 14.76 | 2.03 | 8154 | 316600 |
| Indicated | $18.44 | 0.206 | 679380 | 0.336 | 10.34 | 1.84 | 7339 | 226161 |
| Meas + Ind | $18.44 | 0.206 | 1345783 | 0.358 | 12.53 | 1.93 | 15493 | 542761 |
| Inferred | $18.44 | 0.206 | 416991 | 0.336 | 9.14 | 1.76 | 4505 | 122725 |
| **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** |
| Measured | $2.07 - $18.44 | 0.027 - 0.206 | 750767 | 0.356 | 13.53 | 2.01 | 8600 | 326922 |
| Indicated | $2.07 - $18.44 | 0.027 - 0.206 | 779512 | 0.311 | 9.39 | 1.80 | 7814 | 235653 |
| Meas + Ind | $2.07 - $18.44 | 0.027 - 0.206 | 1530279 | 0.333 | 11.42 | 1.90 | 16414 | 562575 |
| Inferred | $2.07 - $18.44 | 0.027 - 0.206 | 516799 | 0.303 | 7.99 | 1.69 | 5033 | 132847 |

---

Notes:

1. Mineral
 resources based on metal prices of $3,100/ oz Au and $36.00/ oz Ag

2. Cutoffs
 are Income – Refining Cost = NSR

3. Gold
 Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay

4. Gold
 Equivalent for Mill + Pressure Oxidation = Fire Gold + 0.0107 x Total Silver Assay

5. Numbers
 may not match exactly due to rounding

6. Mineral
 resources are contained within a computer-generated optimized pit

7. Total
 material in that pit is 4.92 billion tonnes

8. All
 units on this table are metric: Ktonnes means 1,000 tonnes. Au and Ag grades are in grams
 per tonne (g/t)

9. Mineral
 resources are not mineral reserves, and detailed economic considerations have not been applied

10. Modifying
 factors for mine and process design have not been applied

Contained within the Mineral Resource at Hycroft are a series of high-grade silver veins at Brimstone and zones of higher silver concentrations in Vortex that are associated with a low angle breccia body. Table 1-3 and Table 1-4 are the tabulation of gold and silver within the domain volumes that are contained within the Mineral Resources at 2 oz/ton cutoff grade in imperial and 68.57 g/t cutoff grade in metric.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 7

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 1-3: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 2 oz/ton Cutoff Grade, Imperial Units**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver (oz/ton)** | **Ktons** | **Gold**<br> **(oz/ton)** | **Silver <br> (oz/ton)** | **Sulfide Sulfur (%)** | **Gold Contained <br> oz x 1000** | **Silver Contained <br> oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 2.00 | 3195 | 0.011 | 8.35 | 1.33 | 35 | 26686 |
| Indicated | 2.00 | 330 | 0.010 | 3.11 | 1.87 | 3 | 1025 |
| Meas + Ind | 2.00 | 3525 | 0.011 | 7.86 | 1.38 | 38 | 27711 |
| Inferred | 2.00 | 15 | 0.008 | 3.52 | 1.13 | 0 | 52 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 2.00 | 9126 | 0.018 | 3.81 | 1.49 | 160 | 34781 |
| Indicated | 2.00 | 7342 | 0.014 | 3.78 | 1.24 | 100 | 27726 |
| Meas + Ind | 2.00 | 16468 | 0.016 | 3.80 | 1.38 | 261 | 62507 |
| Inferred | 2.00 | 3644 | 0.014 | 3.65 | 1.27 | 50 | 13307 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 2.00 | 12322 | 0.016 | 4.99 | 1.45 | 195 | 61467 |
| Indicated | 2.00 | 7671 | 0.013 | 3.75 | 1.26 | 104 | 28750 |
| Meas + Ind | 2.00 | 19993 | 0.015 | 4.51 | 1.38 | 299 | 90218 |
| Inferred | 2.00 | 3659 | 0.014 | 3.65 | 1.27 | 51 | 13359 |

---

**Table 1-4: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 68.57 g/t (2 oz/ton) Cutoff Grade, Metric Units**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver (g/t)** | **Ktonnes** | **Gold <br> (g/t)** | **Silver <br> (g/t)** | **Sulfide<br> (%)** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade Silver (g/t)** | **Ktonnes** | **Gold <br> (g/t)** | **Silver <br> (g/t)** | **Sulfide<br> (%)** | **Gold <br> Oz x 1000** | **Silver <br> Oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 68.57 | 2899 | 0.372 | 286.35 | 1.33 | 35 | 26686 |
| Indicated | 68.57 | 299 | 0.332 | 106.62 | 1.87 | 3 | 1025 |
| Meas + Ind | 68.57 | 3198 | 0.368 | 269.54 | 1.38 | 38 | 27711 |
| Inferred | 68.57 | 13 | 0.289 | 120.74 | 1.13 | 0 | 52 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 68.57 | 8279 | 0.603 | 130.67 | 1.49 | 160 | 34781 |
| Indicated | 68.57 | 6660 | 0.469 | 129.48 | 1.24 | 100 | 27726 |
| Meas + Ind | 68.57 | 14940 | 0.543 | 130.14 | 1.38 | 261 | 62507 |
| Inferred | 68.57 | 3306 | 0.475 | 125.20 | 1.27 | 50 | 13307 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 68.57 | 11178 | 0.543 | 171.04 | 1.45 | 195 | 61467 |
| Indicated | 68.57 | 6959 | 0.463 | 128.49 | 1.26 | 104 | 28750 |
| Meas + Ind | 68.57 | 18137 | 0.512 | 154.71 | 1.38 | 299 | 90218 |
| Inferred | 68.57 | 3319 | 0.474 | 125.18 | 1.27 | 51 | 13359 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 8

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

1.10 Conclusions

Hycroft, in conjunction with IMC, developed the Hycroft deposit block model based on 5,813 drillholes with 516,901 drill intervals amounting to 2,668,616 ft of drilling. The model was assembled by Ryan Rodney, C.P.G. of Hycroft. IMC worked with Hycroft and reviewed the final model. IMC is the qualified firm for the statement of mineral resources with John Marek P.E. acting as the Engineer of Record.

Previous Hycroft metallurgical test programs conducted on the Hycroft sulfide deposit consisted of a series of comminution, flotation, concentrate oxidation, and cyanide leaching tests on mineralized materials, flotation tailings, and oxidized sulfide concentrates.

Comminution testwork demonstrates the Hycroft mineralization exhibits very high rock competency. Flotation testwork conducted at grind sizes ranging from 65 µm to 150 µm, at neutral pH and using strong non-selective sulfide collectors, achieved meaningful Au and Ag recoveries. Metallurgical testwork conducted from 2021 through 2025 indicates that Hycroft sulfide mineralization can be processed using a flotation and POX flowsheet. Flotation optimization resulted in improved gold and silver recoveries, and POX test results support the application of POX followed by hot cure, lime boil, and cyanide leaching for treatment of the pyrite concentrate.

The mineral resources statement was developed using a conventional computer-based block model. Each block was evaluated to determine the net return from the following two processes:

● ROM
 cyanide heap leaching and Merrill-Crowe of oxide and some transition materials.

● Milling,
 Flotation, POX, Hot Cure, and Lime Boil followed by Cyanide Leach and Merrill-Crowe of sulfide
 and some transition materials.

1.11 Recommendations

Ausenco's QP recommends that Hycroft proceed with a further study to develop a process plant to treat sulfide and transition mineralized materials, while oxide and some transition materials are processed via heap leaching. That study will provide updated process design criteria and cost estimates.

Ausenco also recommends additional metallurgical testwork focusing on optimizing grind size and flotation mass pull, flotation reagent suite, POX operating conditions, equipment sizing, residence times, as well as lime/limestone, and oxygen consumption. Further recommendations include obtaining solids-liquid separation data and flocculant requirements and optimizing cyanide consumption and reagent usage in the cyanide destruction circuit.

IMC recommends ongoing targeted drilling as budgets and time allow.

In the future, IMC recommends that complete QA/QC procedures be applied to silver and sulfide sulfur assaying and sampling. Regular sampling for QA/QC should be applied to those values in the same way as they have been recently applied to gold.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 9

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

2 Introduction

2.1 Introduction

This technical report summary ("TRS") summarizes the results of an initial assessment ("IA") and updates the mineral resource estimate ("MRE") for the Mine located in northwestern Nevada. The work has been prepared at the request of Hycroft Mining Holding Corporation ("Hycroft"). The TRS follows the requirements and outline as described in the. US Securities and Exchange Commission Code of Federal Regulations, Subpart 229.1300 – Disclosure by Registrants Engaged in Mining operations ("S-K 1300"). This TRS has been completed by Ausenco Engineering South USA ("Ausenco"), Hycroft, Independent Mining Consultants, Inc. ("IMC") and WestLand Engineering & Environmental Services ("Westland").

The updated statement of mineral resources reflects information developed through 2025.

This TRS supersedes all previous technical studies, including the TRS filed on EDGAR under Form 8-K on March 27, 2023.

The mineral resource is based on information provided by Hycroft which has been checked and validated wherever possible by IMC. The mineral resource is based on information and provided by Hycroft. IMC, an independent third party with necessary relevant experience, has checked and validated the mineral resource wherever possible, and is assuming responsibility for the published mineral resource.

2.2 Terms
 of Reference

Some sections of this report were published previously as part of the previous Technical Reports and are listed below in Section 2.6. The sections of these reports which were utilized have been reviewed by both IMC and Ausenco in sufficient detail so that the QPs at IMC and Ausenco have assumed responsibility for this work.

Hycroft staff have provided all requested information and have worked with IMC and Ausenco in an open and transparent manner throughout the Project period.

This report uses imperial units including troy ounces for gold and silver, throughout. Occasional use of non-imperial units will be clearly noted and explained in text when they occur. Tons means short tons of 2,000 lbs, Ktons means 1,000 short tons. Precious metal grades are presented in units of troy ounces per short ton ("oz/ton").

The firms and consultants who are providing QPs responsible for the content of the TRS are, in alphabetical order, Ausenco Engineering South USA, Inc. ("Ausenco"), Hycroft Mining Holding Corporation, Independent Mining Consultants, Inc. ("IMC") and WestLand Engineering & Environmental Services, Inc. ("Westland").

This TRS presents the MRE for the Hycroft mine ("the Mine"), and an initial assessment based on the pressure oxidation ("POX") process.

All units of measurement in the TRS are imperial, unless otherwise stated.

The monetary units are in US dollars, unless otherwise stated.

Mineral Resources are reported in accordance with SK-1300.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 10

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

2.3 Qualified
 Persons

Below is a list of the firms that acted as QPs in the preparation of this TRS:

● Ausenco
 Engineering South USA, Inc. is responsible for sections 1.1, 1.2, 1.3, 1.8, 2.1-2.4.1, 2.5-2.7,
 3.1-3.7, 3.10-3.12, 4, 10, 12-19, 21, 22.1 22.2, 22.5, 22.7.1.3, 22.7.2.2, 23.3, 23.5 and
 portions of sections 1.10, 1.11, 24, and 25.

● Hycroft
 is responsible for sections 1.4, 3.9, and 5.

● Independent
 Mining Consultants, Inc. is responsible for sections 1.5, 1.6, 1.7, 1.9, 2.4.2, 6, 7, 8,
 9, 11, 20, 22.3, 22.4, 22.6, 22.7.1.1, 22.7.1.2, 22.7.1.4, 22.7.2.1, 22.7.2.3 23.1, 23.2,
 23.4 and portions of sections 1.10, 1.11, 24, and 25.

● WestLand
 Engineering & Environmental Services, Inc., is responsible for Section 3.8.

2.4 Site
 Visits and Scope of Personal Inspection

2.4.1 Site
 inspection for Jonathan Cooper

Ausenco's QP, Jonathan Cooper, P.Eng., completed a site visit of the Hycroft property from April 8 to 11, 2024 to inspect the existing infrastructure.

2.4.2 Site
 inspection for John Marek

IMC's QP, John Marek, P.E., visited the Hycroft property on August 5, 2021, to review the existing core and logs.

2.5 Effective
 Dates

The overall Report effective date is January 21, 2026.

2.6 Information
 Sources and References

2.6.1 General

The authors sourced information from documents listed in the References section of this report (Section 24).

Reports and documents listed in Section 2.6.2 and Section 25 of this Report were used to support preparation of the TRS.

2.6.2 Previous
 technical reports

Hycroft Mining Holding Corporation previously filed the following Technical Reports:

● Technical
 Report Summary of Initial Assessment on the Hycroft Mine, Nevada, United States of America,
 Prepared by Ausenco Engineering USA South Inc for Hycroft Mining Corporation, Effective date:
 March 27, 2023.

● Technical
 Report Summary of Initial Assessment on the Hycroft Mine, Nevada, United States of America,
 Prepared by Ausenco Engineering USA South Inc for Hycroft Mining Corporation, Effective date:
 February 18, 2022.

● Newman,
 S., DeLong, R.F., Clarkson, B. M., Carew, T., Hartmann, M., Technical Report Summary: Heap
 Leaching Feasibility Study. Prepared by M3 Metals Corp for Hycroft Mining Corporation, Effective
 date: July 31, 2019.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 11

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Hycroft Mining Corporation completed the following Technical Report in accordance Canada's National Instrument 43-101 Standards of Disclosure for Mineral Projects and which are available on the SEDAR website (www.SEDARplus.ca)

● Ibrado,
 A.S., Roth, D.K., Snider, J.W., Brown, R.A., Harris, D.A., Pennstrom, W.J., Peterson, A.T.
 NI 43-101 Technical Report Mill Expansion Feasibility Study, Winnemucca, Nevada, USA.
 Prepared by M3 Engineering & Technology Corp for Allied Nevada Gold Corp., Effective
 date: November 03, 2014.

2.7 Currency,
 Units, Abbreviations and Definitions

All units of measurement in this report are imperial, and all currencies are expressed in US dollars (symbol: US$; currency: USD) unless otherwise stated. Contained gold metal is expressed as troy ounces (oz), where 1 oz = 31.1035 g. All material tons are expressed as dry tons unless stated otherwise. A list of abbreviations and acronyms is provided in Table 2-1, and units of measurement are listed in Table 2-2.

**Table 2-1: Abbreviations and Acronyms**

---

| | |
|:---|:---|
| **Abbreviation** | **Description** |
| AAL | American Assay Laboratories |
| AAO | atmospheric alkaline oxidation |
| AAS | atomic absorption spectroscopy |
| AES | atomic emission spectrometry |
| Allied Nevada | Allied Nevada Gold Corp. |
| AR | aqua regia |
| Ag | silver |
| ALS | Auld Lang Syne formation |
| Au | gold |
| Ausenco | Ausenco Engineering USA South Inc. |
| Az | azimuth |
| BLM | Bureau of Land Management |
| BWi | bond ball mill work index |
| CCD | counter current decantation |
| CNI | Call & Nicholas, Inc. |
| CWi | bond crusher work index |
| DDH | diamond drill hole |
| DSHA | deterministic seismic hazard assessment |
| EA | Environmental Assessment |
| EDGAR | Electronic Data Gathering, Analysis, and Retrieval |
| FA | fire assay |
| FPCP | Final Permanent Closure Plan |
| G&A | general and administration |
| HLF | Heap leach facility |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 12

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | |
|:---|:---|
| **Abbreviation** | **Description** |

---

---

| | |
|:---|:---|
| Hycroft | Hycroft Mining Holding Corporation |
| IA | initial assessment |
| ICP | inductively coupled plasma |
| ID<sup>2</sup> | inverse distance squared |
| ID<sup>3</sup> | inverse distance cubed |
| IMC | Independent Mining Consultants, Inc. |
| IP | induced polarization |
| ISO | International Organization for Standardization |
| LECO | Laboratory Equipment Corporation |
| LOM | life of mine |
| LWIR | Longwave Infrared |
| LTI | Lost Time Incident |
| M3 | M3 Engineering and Technology Corp |
| MRE | mineral resource estimate |
| MS | mass spectrometry |
| MWWAI | Michael W. West and Associates Inc. |
| NDEP | Nevada Division of Environmental Protection |
| NDOW | Nevada Department of Wildlife |
| NDWR | Nevada Division of Water Resources |
| NEPA | National Environmental Policy Act |
| NN | nearest neighbor |
| NSR | net smelter return |
| OES | optical emission spectrometry |
| POX | pressure oxidation |
| QA/QC | quality assurance/quality control |
| QP | qualified person (as defined in National Instrument 43-101) |
| RC | reverse circulation drilling |
| ROM | run of mine |
| RPEEE | reasonable prospect of eventual economic extraction |
| RQD | rock quality designation |
| SAG | semi-autogenous grinding |
| SD | standard deviation |
| SEC | Securities and Exchange Commission |
| SHLF | South Heap Leach Facility |
| S-K 1300 | US Securities and Exchange Commission Ruling S-K Subpart 1300 |
| SRK | SRK Consulting (US) Inc. |
| SS | sulfide sulfur |
| SWIR | Shortwave Infrared |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 13

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | |
|:---|:---|
| **Abbreviation** | **Description** |

---

---

| | |
|:---|:---|
| the Mine | Hycroft Mine |
| TMF | tailings management facility |
| TRIFR | Total Recordable Incident Frequency Rate |
| TRS | technical report summary |
| TSG | Tertiary Sulphur Group |
| USGS | United States Geological Survey |
| USFWS | US Fish and Wildlife Service |
| Westland | WestLand Engineering & Environmental Services, Inc. |

---

**Table 2-2: Units of Measurement**

---

| | |
|:---|:---|
| **Unit** | **Description** |
| µm | micrometer |
| ac | acre |
| asl | above sea level |
| Axb | hardness of ore in term of impact breakage, unitless |
| B | billion |
| bgs | below ground surface |
| °C | Celsius |
| Cfs | cubic feet per second |
| D | day |
| °F | Fahrenheit |
| fasl | feet above sea level |
| ft | feet |
| G | gravity |
| g | gram (unit of weight) |
| g/t | grams per ton |
| gal/min. | gallons per minute |
| Hp | horsepower |
| in | inch |
| in/a | inches per year |
| Kg | kilogram |
| ktons | kilo short tons |
| kV | kilovolt |
| lb | pound |
| M | million |
| mi | mile |
| mi<sup>2</sup> | square mile |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 14

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | |
|:---|:---|
| **Unit** | **Description** |

---

---

| | |
|:---|:---|
| mm | millimeters |
| Mtons | million short tons |
| min. | minute |
| Moz | Million ounces |
| oz | troy ounce |
| oz/ton or opt | troy ounces per short ton |
| oz/gal | troy ounces per gallon |
| ppm | parts per million |
| ppt | parts per trillion |
| psig | pressure per square inch |
| ton | short ton |
| ton/d | short tons per day |
| tn | short ton |
| TSS | total suspended solids |
| US$, USD | United States dollars (symbol; currency) |
| wt/wt | weight percent |
| % | percent |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 15

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

3 Property Description

3.1 Introduction

The Mine is an existing gold and silver operation located 54 miles west of Winnemucca in Humboldt County and Pershing County, Nevada, as shown in Figure 3-1. The Site is accessible via Nevada State Route 49 (Jungo Road), an all-weather, unpaved road that is maintained by Humboldt County and Hycroft. A major east–west railway runs immediately adjacent to the property.

The Mine property straddles Townships 34, 35, 35½ and 36 north and Ranges 28, 29 and 30 east (MDB&M) with an approximate latitude 40°52' north and longitude 118°41' west. The mine is situated on the western flank of the Kamma Mountains on the eastern edge of the Black Rock Desert.

The Mine property was consolidated through multiple transactions over several years and is described below. Some unpatented mining claims overlap other Hycroft patented and unpatented mining claims to ensure there are no fractional claim gaps. Existing facilities on site include two administration buildings, a mobile maintenance shop, a light vehicle maintenance shop, a warehouse, an assay laboratory, three heap leach pads – Crofoot, North, and Brimstone, primary, secondary and tertiary crushing systems, two Merrill-Crowe process plants and a refinery. It is considered that existing components of the mine property would be utilized for future development. The Mine operates under permit authorization from the Bureau of Land Management ("BLM"), Nevada Division of Environmental Protection ("NDEP"), Nevada Department of Wildlife ("NDOW"), Nevada Division of Water Resources ("NDWR") and County agencies. On the date of this report, Hycroft has approximately 52 employees.

3.2 Property
 and Title in Jurisdiction

The mine is owned and managed by Hycroft Resources and Development, LLC, a wholly owned subsidiary of Hycroft Mining Holding Corporation.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 16

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 3-1: Hycroft Mine Location Map**

![](ex_002.jpg)

Source: Nevada Bureau of Mines, 2023

3.3 Project
 Ownership

The Mine property consists of 25 private parcels with patented claims totaling approximately 1,855 acres, along with 3,249 unpatented mining claims covering approximately 62,298 acres, for a combined total of approximately 64,000 acres. On May 15, 2023, Hycroft expanded its holdings by acquiring 50% undivided interest in three additional patented mining claims, adding approximately 61 acres at one location in Northern Nevada. Some mining claims overlap other Hycroft Mining claims to ensure there are no fractional gaps in mining claim coverage.

There are 30 unpatented placer claims, and 3,219 unpatented lode claims are in Humboldt County and Pershing County, Nevada as follows:

● T36N,
 R29E, Sections: 28, 32, 33

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 17

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

● T36N,
 R30E, Sections: 19, 28-34

● T35
 1/2N, R29E, Sections: 25, 26, 35, 36

● T35N,
 R29E, Sections: 1-3, 10-15, 21-28, 31-36

● T35N,
 R30E, Sections: 2-10, 15-23, 25-36

● T34N,
 R28E, Sections: 1, 2, 11, 12, 13

● T34N,
 R29E, Sections: 1-28, 33

● T34N,
 R30E, Sections: 2-11, 17-20, 29, 30

The 25 private patented claims are located in Humboldt County and Pershing County, Nevada as follows:

● T35N,
 R29E, Sections: 24, 25, 35, 36

● T35N,
 R30E, Sections: 19, 30, 31

● T34N,
 R29E, Sections: 1, 2

The mining claim package is depicted in Figure 3-2. Individual mining claims for each township range and section are presented in Appendix A – Patented Claims and Appendix B – Unpatented Claims. Ausenco has defined the project centroid in the following mine grid coordinates: 51500 N and 20500 E.

This point is located central to all mine facilities. The project centroid shall be used to reference all other locations within one mile.

Much of the project area is located on un-surveyed public and private land for which the sections, ranges, and townships listed above have been interpolated. Patented claims have been surveyed (Wilson, 2008; Prenn, 2006). The following is a list of land acquisitions/transactions made over the years which constitute the entire Hycroft land claim package and has been assembled through a series of transactions.

The Crofoot property and approximately 3,500 acres of claims were acquired by Vista in 1985. The Crofoot property, originally held under lease, is owned by Hycroft. The Crofoot royalty was terminated January 7, 2026. The Lewis property and approximately 8,700 acres of claims were acquired by Vista in early 1987. In 2006, approximately 13,100 acres of additional claims were staked by Vista. These claims are contiguous or proximate to the original Crofoot and Lewis claims.

From 2007 through 2015, Hycroft staked additional lode mining claims contiguous to existing Hycroft claims that cover approximately 37,373 acres. Some of these lode claims overlap existing placer claims.

Payment of annual claim maintenance and holding fees to the BLM and Humboldt and Pershing Counties and payment of annual real property taxes for patented claims in Humboldt and Pershing Counties are made every third quarter (Q3). Payments are current through the 2025 - 2026 claim years, with US$711,551 paid for 2025 - 2026. Payment of annual claim maintenance and holding fees and real property taxes are required to continue to hold the Hycroft property in good standing from. BLM annual maintenance fees for claims are due not later than September 1 of each year. Humboldt and Pershing County State annual holding fees beginning September 1 of each year are due no later than November 1 of each year. Annual real property taxes for patented claims in Humboldt and Pershing Counties are due August 31 of the following year.

Hycroft controls all surface and mineral rights within the Hycroft mineral resource area. No further land acquisition is required for the operation of the mine and contemplated processing facilities.

Figure 3-3 shows the property layout including site facilities, mine workings, leach pads and waste dumps.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 18

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

3.4 Property
 Agreements

Table 3-1 shows the royalty amount and other annual land holding costs.

**Table 3-1: Hycroft Annual Land Holding Costs**

---

| | | | |
|:---|:---|:---|:---|
| **Month Due** | **Lessor** | **Type** | **Amount** |
| Monthly | Sprott Royalty<sup>1</sup> | Net Smelter Return Royalty | 1.5% NSR |
| August-October | US BLM, Humboldt & Pershing Counties | Claim Fees | US$711,551 |

---

Note:

1. The
 Sprott royalty is equal to 1.5% of Net Smelter Returns (NSR) free and clear of withholding
 taxes or similar taxes.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 19

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 3-2: Claim Map**

![](ex_003.jpg)

Source: Hycroft, 2026

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 20

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 3-3: Current Property and Facilities Layout (2025)**

![](ex_004.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 21

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

3.5 Surface
 Rights

Hycroft controls all surface and mineral rights within the Hycroft mineral resource area. No further land acquisition is required for the operation of the mine and contemplated processing facilities.

3.6 Water
 Rights

Hycroft controls 16 separate water-right permits administered by the NDWR. These permits are held in ownership either by Hycroft, or by other private parties and leased to Hycroft. Water resources to support the Mine are controlled under 14 permits in the Black Rock Desert Basin totaling 20,414.9 acre-feet/year (6.65 billion gallons/year). Two of these water permits are outside the Black Rock Desert Hydrographic Basin and used to support construction maintenance of Jungo Road with Humboldt County.

3.7 Liabilities
 and Encumbrances

The consolidated financial statements of Hycroft Mining Holding Corporation set forth its material liabilities as of the date of such financial statements. The assets of Hycroft Mining Holding Corporation and its subsidiaries (collectively, the "Company") are subject to encumbrances and obligations, including encumbrances and obligations under and associated with the Sprott Royalty Agreement dated May 29, 2020, by and between the Company and Sprott Private Resource Lending II (Co) Inc.

3.8 Environmental
 Considerations

Gold production began on the property in 1983 and continued through 1985 when Standard Slag opened the Lewis Mine. There was a brief gap in mining until Hycroft acquired the Lewis Mine and the Crofoot claims and recommenced mining in 1988. Mining operations continued until 1998 when mining was placed on standby due to low metal prices. Process operations continued until 2004 when the property was placed on care and maintenance.

Efforts began in 2003 to update the Reclamation Plan, associated cost estimate, and related amount of surety bond posted with the BLM. During the years 2011 and 2012, Hycroft increased collateral account balances to support additional surety bonds for the benefit of the BLM. These additional surety bonds allowed Hycroft to continue operations at the Mine and to expand exploration activities outside of the Mine. In 2011, Hycroft received a reimbursement of US$0.5 million related to reclamation costs that had been paid out.

In January 2014, the BLM approved an updated reclamation cost estimate allowing for the phased bonding of the expansion activities. The required bond amount was lowered from US$63 million to US$58.3 million. Hycroft has Surface Management Surety Bonds with insurance companies that meet the financial requirements of the BLM to comply with the total requirement of US$58.3 million as detailed in the September 2013 reclamation cost estimate that requested the phasing of the mill expansion activities. Additionally, Hycroft has posted a bond with the BLM in the amount of US$0.6 million for the adjacent water supply well field, well field monitoring and exploration within the project boundary. Hycroft has US$22.4 million in restricted cash for collateral for these bonds.

The Hycroft area has been surveyed for surface water resources, including Waters of the United States, biological resources, cultural resources, and groundwater resources. The Golden Eagle (Aquila chrysaetos) is known to occur adjacent to the Hycroft Project. Hycroft is working with the BLM and the US Fish and Wildlife Service ("USFWS") in the management of this species.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 22

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

3.9 Safety
 Considerations

The operation of the Mine is subject to regulation by the Federal Mine Safety and Health Administration (MSHA) under the Federal Mine Safety and Health Act of 1977 (the Mine Act). MSHA inspects the Mine on a regular basis and issues various citations and orders when it believes a violation has occurred under the Mine Act. In years ending 2024 and 2025, after multiple inspections, MSHA has issued no (0) citations and no (0) "Significant and Substantial" Violations under section 104(a) of the Mine Act. There have been no fines including citations and orders issued to contractors for the year ending December 31, 2025.

Hycroft mandated mine safety and health programs include employee and contractor training, risk management, workplace inspection, emergency response, accident investigation, and program auditing with a goal to have zero workplace injuries and occupational illness. In 2023, Hycroft implemented multifunctional workplace inspections and monthly employee engagement sessions. As a result, Hycroft has now operated for three consecutive years at a 0.0 Total Recordable Incident Frequency Rate ("TRIFR") and achieved over 1.4 million hours without a Lost Time Incident ("LTI"). The Mine's TRIFR per 200,000 man-hours worked including contractors was 0.0 on December 31, 2025.

3.10 Permitting
 Considerations

The Mine operates under permit authorizations from the BLM, NDEP, NDOW, and NDWR. All operating and environmental permits, approved by the BLM, NDEP, NDOW and NDWR, are in good standing for mining operations. Table 3-2 summarizes the operating permits while Table 3-3 shows the miscellaneous permits for the property.

**Table 3-2: Hycroft Operating Permits**

---

| | | | |
|:---|:---|:---|:---|
| **Operating Permits** | **Issuing Agency** | **Number** | **Status** |
| Plan of Operations | BLM | NVN-064641 | Current |
| Eagle Take Permit | USFWS | MB90099B-0 | Current |
| Mercury Operating Permit to Construct | NDEP - BAPC | AP1041-2255 | Current |
| Class I Air Quality Operating Permit to Construct | NDEP - BAPC | AP1041-2974 | Incorporated into the Class II AQOP |
| Class I Air Quality Operating Permit to Construct | NDEP - BAPC | AP1041-3344 | Incorporated into the Class II AQOP |
| Class I Air Quality Operating Permit | NDEP - BAPC | AP1041-2964 | Current |
| Permit to Operate a Public Water System | NDEP - BSDW | HU-0864-12NTNC | Current |
| Class II Air Quality Permit | NDEP - BAPC | AP1041-0334.05 | Current |
| Water Pollution Control Permit-Crofoot Project | NDEP - BMRR | NEV60013 | Current |
| Water Pollution Control Permit-Brimstone Project | NDEP - BMRR | NEV94114 | Current (Application Shield) |
| Bioremediation Facility Permit | NDEP - BMRR | GNV041995-HGP15 | Superseded by Water Pollution Control Permit |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 23

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Operating Permits** | **Issuing Agency** | **Number** | **Status** |
| Reclamation Permit | NDEP - BMRR | 134 | In Renewal |
| Mining General Stormwater Pollution Prevention Permit | NDEP - BWPC | R300000: MSW-177 | Current |
| Class III Landfill Waiver | NDEP - BSMM | SWW-346 | Current |
| Artificial Pond Permit (Brimstone Process Ponds) | NDOW | HU019 – S503626 | Current |
| Artificial Pond Permit (Crofoot Process Ponds) | NDOW | HU009 – 39469 | Current |
| Artificial Pond Permit (North Process Ponds) | NDOW | HU022-39468 | Current |
| Artificial Pond Permit (Stage 1 Ponds) | NDOW | HU022-40377 | Current |
| General Onsite Sewage Disposal System | NDEP - BWPC | GNEVOSDS09 | Current |
| Dam Safety Permit (Crofoot Process Ponds) | NDWR | J-273 | Current |
| Dam Safety Permit (Brimstone Leach Event Pond) | NDWR | J-683 | Current |
| Dam Safety Permit (North Leach Event Ponds) | NDWR | J-687 | Current |
| Dam Safety Permit (Stage 1 Event Ponds) | NDWR |  | Pending |
| Hazardous Materials Storage Permit | NV State Fire Marshall | 8250 | Current |
| Special Use Permit | Pershing County | SUP 12-04 | Current |
| Special Use Permit | Humboldt County | UH-12-04 | Current |

---

**Table 3-3: Hycroft Miscellaneous Permits**

---

| | | |
|:---|:---|:---|
| **Operating Permits** | **Number** | **Status** |
| Microwave Repeater; Sec. 29, 30 BLM | NVN46292 | Current |
| ROW Wells/Pipeline/Power Line; Sec. 3 BLM | NVN46564 | Current |
| ROW 2 Wells/Pipeline/Power Line BLM | NVN46959 | Current |
| ROW Road & Waterline (Old Man camp to Lewis) BLM | NVN39119 | Current |
| ROW Crofoot pipeline BLM | NVN44999 | Current |
| ROW 24 kV Aerial Powerline, Lewis/Floka BLM | NVN54893 | Current |
| Kamma Peak Station FCC | WNER344 | Current |
| Sulfur Mine Station FCC | WNER345 | Current |
| Winnemucca Mountain Station FCC | WNER346 | Current |
| Base Station & 45 Mobile Units FCC | WNKK336 | Current |

---

Operating and miscellaneous permits that require annual maintenance fees are shown in Table 3-4. Fixed annual fees are required for storm water and public drinking water system permits based upon the current Nevada regulatory structure. The other annual fees are based on annual mining production, quantities and types of chemicals stored on site, existing and permitted surface disturbance, and the level of actual and permitted air emissions. The variable fees shown are based upon the 2025 operational conditions.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 24

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 3-4: Hycroft Miscellaneous Permits**

---

| | |
|:---|:---|
| **Permit and Fee Description** | **Annual Amount (US$)** |
| Air Quality Operating Permit AP1041-0334.05 | Fees are incorporated into title V permit. |
| Air Quality Operating Permit AP1041-2255 | $16958 |
| Air Quality Operating Permit AP1041-2964 | $47448 |
| Reclamation Permit | $37811 |
| Nevada Radioactive Material License | $2000 |
| Stormwater Permit | $1000 |
| Artificial Pond Permit | $31625 |
| Water Pollution Control Permit NEV94114 | $66000 |
| Water Pollution Control Permit NEV60013 | $60000 |
| State Fire Marshall | $210 |
| Public Drinking Water System | $391 |
| Septic System Permits | $750 |
| Toxic Release Inventory Annual Fee | $5500 |
| Nevada LP-Gas License | $795 |
| **Total** | **$270488** |

---

Hycroft currently holds six Right-of-Way ("ROW") leases with two exploration notices with the BLM, as described in Table 3-5 along with fees and renewals.

**Table 3-5: Right-of-Way Payment and Renewal Schedule**

---

| | | | |
|:---|:---|:---|:---|
| **ROW Number** | **Annual Payment Amount (estimated)** | **Payment Date** | **Expiration Date** |
| NVN46292 | $125 | 01/01/2025 | 12/31/2048 |
| NVN46564 | $100 | 01/01/2025 | 12/31/2046 |
| NVN46959 | $610 | 01/01/2025 | In Renewal |
| NVN39119 | $427 | 01/01/2025 | In Renewal |
| NVN44999 | $279 | 01/01/2025 | In Renewal |
| NVN54893 | $200 | 01/01/2025 | In Renewal |

---

3.10.1 Hycroft
 Expansion Permitting and Timelines

Hycroft submitted a Plan of Operations for an expansion of its heap leach facilities, open pits and waste rock facilities to the BLM in April 2010. A major modification to the State Water Pollution Control Permit was submitted in 2011 for the process components that included engineering design reports from Golder Associates. The permit modification was issued in August 2012. An amended Plan of Operations that included a rail spur, open pit expansion and processing complex was submitted to the BLM in August 2012. The BLM determined that an Environmental Assessment ("EA") was required, deemed the Plan of Operations complete, and initiated public scoping in December 2012. In March 2013, NV Energy submitted a ROW application for the power line associated with the Hycroft Mill. The BLM determined that this action should be analyzed with the Hycroft EA. Approval was received in December 2014. The permits required to construct and operate the crushing system and to begin mill construction were received in 2012. The air quality permit for operation of a mill was submitted in December 2012, and issuance was received in late 2013.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 25

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The Plan of Operations for a rail spur, open pit expansion and processing complex, that included a tailings management facility ("TMF") and expanded Heap Leach Facility ("HLF"), was completed in December 2014, with the BLM issuance of the Record of Decision authorizing the proposed action received in January 2015. A major modification to the State Water Pollution Control Permit was submitted in 2011 for the process components that included engineering design reports from Golder Associates. The permit modification was issued in August 2012. All other permits required for the heap leach expansion have been received.

A Plan of Operations for an alternate TMF, mining below the water table and expanded facilities was submitted to the BLM in April 2014. The BLM determined that a Supplemental Environmental Impact Statement (SEIS) was required. In October 2019, the BLM issued a record of decision on the SEIS permitting the new TMF location, expanded facilities and deeper pit depths.

In December 2010, Hycroft submitted a minor modification to the NDEP which proposed increasing the permitted processing rate from 10 Mtons/a to 12 Mtons/a. This modification was approved in February 2011. In May 2011, Hycroft proposed a major modification to build a new heap leach pad on the site of the closed Lewis pad and to increase the processing rate to 30 Mtons/a. This modification was approved by the NDEP in December 2011. In January of 2012, Hycroft submitted another major modification to construct a heap leach facility on the south extent of the property. The facility was referred to as the South Heap Leach Facility ("SHLF"). Around the same time, Hycroft submitted a modification proposing to add both a north and south processing area, increasing the Brimstone and Lewis heap leach pads permitted height to 400 ft, and increasing the permitted processing rate to 36 Mtons/a of ore. Both modifications were approved by the NDEP in September 2012. Later, in December 2012, Hycroft submitted a minor modification proposing to add a Merrill-Crowe facility at the North Process Area. NDEP approved this modification in May 2013. In March of 2013, Hycroft submitted another modification to construct a combined heap leach and tailings storage facility, referred to as the South Processing Complex ("SPC"), in the same location as the previously permitted SHLF. The SPC uses the new SHLF, constructed in a horseshoe shape, to provide the embankment for the Southwest TMF located in the central portion of the new SHLF. Also, as part of this modification, Hycroft proposed the construction of a mill and related facilities for processing high-grade ore at an approximate throughput of 65,000 tons per day ("ton/d") during Phase 1 to a final phase capacity of 132,000 ton/d. Tailings were proposed to be pumped to the TMF at the SPC. These 2013 major modifications were approved by NDEP in August 2017.

In September 2014, Hycroft submitted a minor modification to expand the Brimstone-North HLF to the southeast by approximately 80 acres including an additional Event Pond at the existing North Area Merrill-Crowe facility. NDEP approved these minor modifications in March 2015.

In April 2019, Hycroft submitted a major modification to construct a new heap leach facility named Hycroft Heap Leach Facility Stage 1 (Stage 1 HLF) north of the North Processing Facility. The Stage 1 HLF will have a storage volume of 29 Mtons and is the first stage of the larger facility (Hycroft HLF) with a storage capacity of 550 Mtons. The ultimate footprint of the Hycroft HLF will cover approximately 925 acres, with the Stage 1 footprint covering approximately 390 acres that includes ponds, channels, and roads. Of this area, 234 acres will be lined with geomembrane along with the HLF pad comprising 204 of these acres. Pregnant solution collected from the pad will be pumped to the existing North Merrill-Crowe process facility for precious metals recovery. The barren solution from the North Merrill-Crowe facility will then be returned to the top of each lift and applied over a designated cell area using a drip and sprinkler system. The major modification was approved by NDEP in July 2020.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 26

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Currently, Hycroft has all permits required to restart the Mine and recently received the Federal Record of Decision for the Phase II Environmental Impact Statement supporting the life of mine ("LOM") pit development.

Received Record of Decision from BLM for Environmental Impact Statement (EIS) (10-22-19):

● Current
 operating plan is fully permitted

● Existing
 operating permits will be amended as new facilities/infrastructure are required

● EIS
 allows flexibility:

○ Expanded pits

○ Construction of a TMF to the south of the property, if needed

● Phase
 1 of the new leach pad is permitted

● Phase
 1A of the new leach pad has completed earthwork and high-density polyethylene (HDPE) liner
 installation. A media cover has been added to protect the porous multimedia protective layer.
 Collection ponds are in place. Electrical switch gear, instrumentation, and pumps are in
 storage and will be added during construction restart. No mineralized ore has been added
 to the pad. Phase 1B of the new leach pad and future phases will be planned for construction
 from cash flows when needed.

Any future expansion activities recommended in this TRS will require multiple federal, state and local permits. The USFWS will require modification to the Golden Eagle Take Permit for the NE TMF and extensions of the South (Vortex) Dump.

3.10.2 Crofoot
 Heap Leach Facility Closure

In 2023, NDEP asked Hycroft to update the 2017 Final Permanent Closure Plan ("FPPC"). Hycroft complied with this request and a new FPPC was submitted. The updated plan includes schedule of compliance (SOC) items and incorporates current regulations. There are six items in this plan. SOC Items 1 (Stormwater Controls), 2 (Heap Leach Drain-Down Channel), 3 (Update Monitoring Plan), 4 (Water Quality Evaluation Report), SOC Item 5 (updating FPCP), and 6 (Investigation of trend for Wells SP-23, SP-24, and SP-25). NDEP has accepted and approved SOC Items 2 (Heap Leach Drain-Down Channel) and Item 3 (Update Monitoring Plan). The other items are still under review.

Construction of a drain-down collection system was completed in 2012. In 2024 and 2025, Hycroft completed steps to regrade the pad in preparation for closure. Hycroft will continue to re-contour the pad, as necessary for surface water management; apply medium, where required; and reseed the pad to complete the closure process. Hycroft is working in conjunction with NDEP, who will issue the final closure approval letter once these activities are reviewed and accepted.

3.11 Social
 License Considerations

Social and community impacts have been considered and evaluated in the National Environmental Policy Act ("NEPA") process. Potentially affected Native American tribes, tribal organizations, and/or individuals are consulted during the preparation of all plan amendments to advise on proposed projects that may influence cultural sites, resources, and traditional activities. Potential community impacts on the existing population and demographics, income, employment, economy, public finance, housing, community facilities, and community services are also evaluated during NEPA review processes. There are currently no social or community issues that materially impact Hycroft's ability to extract mineral resources.

3.12 Project
 risks and uncertainties

Timely filings and payments are required to maintain title and rights to claims, water rights and permits. Hycroft maintains processes and controls to ensure timely filings and payments. Changing regulations or failure to make timely filings and payments are significant risks to maintaining environmental access or ability to perform the permitted and authorized work on the property.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 27

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

4 Accessibility, Climate, Local Resources, Infrastructure and Physiography

4.1 Physiography

Hycroft is situated on the eastern edge of the Black Rock Desert and on the western flank of the Kamma Mountains between Winnemucca and Gerlach, Nevada. The site is characterized by flat, prehistoric lakebed and well-dissected topography with moderately steep slopes. Topographic relief within the project area is 1,900 feet ("ft"). The elevation ranges from 4,100 ft on the western side to 6,000 ft on the eastern side. The climate in the mine area is arid. The area receives about seven to eight inches of precipitation per year, most of it as rain in the spring and snow in the winter months. Summer daytime temperatures are 85°F to 95°F. Daily temperature ranges are extreme, usually 30°F to 35°F resulting in cool nights. Winter nights can drop to well below freezing, but daytime highs are usually above freezing. Winter snowpack is light, and snow does not normally present logistical problems. Vegetation consists mostly of sagebrush, rabbit brush, and surface grass. Scattered pinon and juniper trees occur along slopes in the higher parts of the property.

4.2 Accessibility

Hycroft and its related facilities are located 54 miles west of Winnemucca, Nevada along State Road No. 49 (Jungo Road), a good quality, unpaved road. Access is also possible from Gerlach via Jungo Road, Imlay or Lovelock by dirt roads intersecting Interstate 80. Winnemucca is a commercial community on Interstate 80 where most of the Mine's employees are likely to reside. Winnemucca is 164 miles northeast of Reno, Nevada. The town is served by a transcontinental railroad and has a small public airport and there are adequate boarding rooms and dining facilities.

4.3 Climate

The climate at the Mine is classified as arid, with an average precipitation of 7.7 inches per year, most of which occurs during the winter and spring months. Winds are generally light with occasional dust or sandstorms, particularly in the spring.

Temperatures are moderate during the summer, ranging from 50°F at night to above 90°F during the day. Winter temperatures average 20°F at night and 40°F during the day. The average range between the highest and lowest daily temperatures is 30°F to 35°F with strong surface heating during the day and rapid nighttime cooling due to the dry air. Hycroft has not reported experiencing major delays in production due to inclement weather and is operating year-round.

4.4 Local
 Resources and Infrastructure

Existing infrastructure at the Mine consists of the following: a truck shop, a maintenance building, a laboratory, ore crushing facilities, an administration building, and other service-related structures. Power is supplied to the site from nearby power lines that are fed directly from the main power grid and there is a modern communications system including cellular connections. Potable water is sourced from a well located approximately one mile south of the Crofoot Heap. A major east–west railway passes adjacent to the Hycroft property.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 28

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 4-1: Onsite Lab, Admin, Maintenance, Truck Shop, and Warehouse**

![](ex_045.jpg)

Source: Hycroft, 2025

**Figure 4-2: Crusher and Conveyor Belt Circuit**

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 29

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 4-3: North Merrill-Crowe Facility**

Source: Hycroft, 2025

**Figure 4-4: Stage 1 Heap Leach Pad and Ponds Along Jungo Road**

Source: Hycroft, 2025

The Mine is in a well-known mining jurisdiction near several towns including Winnemucca, Gerlach and Lovelock. The Mine's workforce primarily lives in Winnemucca (Humboldt County) and Lovelock (Pershing County).

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 30

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Initial surveys indicated that the town of Winnemucca has the required infrastructure (short- and long-term rooming and boarding facilities, dining establishments, shopping, emergency services, schools, etc.) to support the maximum workforce and dependents. The Mine has always been successful in filling positions with qualified mining personnel from all over the country.

Currently, the Mine operates three production wells that are located four to five miles west of the mine, and a single potable well. These four production wells are the main sources of water for the mine site. All water rights are within the Black Rock Desert Hydrographic Basin, a recently designated basin. Water rights are shown in Table 4-1.

Hycroft controls sufficient land position and water rights to support its planned facilities and process water demands.

**Table 4-1: Hycroft Water Wells and Permitted Yearly Consumption**

---

| | | | |
|:---|:---|:---|:---|
| **Application No.** | **Permit Diversion Limit (cfs)** | **Annual Appropriation Limit (acre-ft)** | **Point of Division** |
| 81228 | 0.4 | 14.83 | T34N R29E S3 |
| 81226 | 3.2 | 724.79 | T35N R29E S31 |
| 81225 | 3.2 | 303.43 | T35N R29E S31 |
| 81227 | 2.0 | 1448 | T35N R29E S31 |
| 81224 | 2.0 | 1448 | T34N R28E S1 |
| 81408 | 5.4 | 3890 | T35N R29E S31 |
| 81409 | 5.4 | 3890 | T35N R29E S31 |
| 84477 | 0.3 | 177.9 | T35N R29E S31 |
| 82274 | 10 | 4096 | T35N R29E S31 |
| 82355 | 3.3 | 2050 | T35N R29E S31 |
| 82356 | 5.6 | 3415 | T34N R28E S1 |
| **Total** | **40.8** | **21457.95** | **-** |

---

A fully developed project will include plans to develop access and haul roads to new processing facilities, a TMF, and additional waste rock storage dumps. Furthermore, the development of a rail spur is recommended off the existing rail line for the receipt of grinding media, fuel, reagents, and other supplies.

A power study needs to be conducted to upgrade the existing power at the site to support a fully developed processing plant.

4.5 Seismicity

In 2012, Michael W. West and Associates Inc. ("MWWAI") completed a review of the Hycroft deterministic seismic hazard assessment ("DSHA"). MWWAI concluded that historical seismicity in the vicinity of the site is low to moderate with no relation to mapped faults. No faults in the project area are classified as "active/capable" based on an unequivocal association of instrumentally recorded earthquakes in the last approximately 50 years. MWWAI stated that a comparison of the United States Geological Survey ("USGS") national probabilistic seismic hazard model to deterministic and probabilistic floating earthquake peak ground accelerations ("PGAs") show reasonable agreement. MWWAI recommends the use of the deterministic and probabilistic PGAs presented in the DSHA.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 31

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | |
|:---|:---|
| <br> 5 | History |

---

5.1 Regional
 History

The earliest recorded mining in the Sulfur District, where the Mine is located, began in the late 1800s following the discovery of significant native sulfur deposits (Couch and Carpenter, 1943; Wilden, 1964). Mining of native sulfur was sporadic from 1900 to 1950 with over 181,488 tons of sulfur ore, grading approximately 20-35% sulfur, mined and milled (McLean, 1991).

In addition to sulfur, high-grade Ag mineralization, consisting of nearly pure seams of cerargyrite (AgCl), was discovered in 1908 at Camel Hill (Vandenburg, 1938). Assays up to 3,439 oz/ton Ag and 0.362 oz/ton Au were reported (Jones, 1921). Ag mining ceased in 1912 with an estimated 165,375 Ag ounces produced. Minor Ag mining also occurred along the East Fault at the Snyder Adit, and Ag samples as high as 66 oz/ton (Friberg, 1980) and 29 oz/ton (Bates, 2001) were reported.

During the First World War (1914 to 1918), three 6 to 8 ft wide veins of nearly pure alunite were mined in the southern part of the Sulfur District (Clark, 1918). In 1931, several hundred tons of alunite were mined as a soil additive (Fulton and Smith, 1932). Vandenburg estimated that 454 tons of alunite was shipped to the west coast to be used as fertilizer (Vandenburg, 1938). From 1941 to 1943, cinnabar was mined from small pits in the exposed acid leach zone (Bailey, 1944). Total mercury production during this period is estimated at 1,900 lbs. (McLean, 1991).

5.2 Property
 Exploration History

In 1966, the Great American Minerals Company began extensive exploration for native sulfur in the regional area of the Mine. Approximately 200 shallow holes were drilled, and numerous trenches were dug (Friberg, 1980). In 1974, Duval drilled 20 holes on the property in search of a Frasch-type sulfur deposit (Wallace, 1980). Duval found no evidence of a sulfur deposit at depth but did report elevated Au and Ag values. Duval drilled two core holes (DC-1 and DC-2) and 18 rotary holes (DR-3 through 20) (Ware, 1989).

In 1977, the Cordex Syndicate mapped and rock-chip sampled the property. They concluded that there is potential for bulk tonnage as a low-grade precious metal deposit. In 1978, Homestake became interested in the property, recognizing similarities with the McLaughlin hot springs deposit in California. Homestake completed surface sampling and exploration drilling during 1981-1982, and although successful in defining an oxide gold/silver mineral deposit, they forfeited the property in 1982.

Hycroft gained control of the district in 1985 and drilled 3,212 exploration holes, totaling 965,552 ft, between 1985 and 1999. The bulk of this drilling was shallow and focused on oxide Au mineralization at Central, Bay and Brimstone.

In 2005, Canyon Resources completed 33 drillholes totaling 13,275 ft of RC drilling. These were completed primarily in the Brimstone pit area.

Hycroft commenced systematic exploration and resource development drilling starting in 2006. Drilling was focused on oxide resource delineation, sulfide resource definition, sulfide exploration, condemnation drilling for facilities, Ag data and both geotechnical and metallurgical core samples. Between late-2006 and August 31, 2016, Hycroft completed 1,970 exploration holes, totaling approximately 1.45 million ft.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 32

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

A combination of rotary, RC and core drilling techniques has been utilized to verify the nature and extent of mineralization. Most samples have been collected using RC drilling methods on 5 ft sample intervals. RC drilling utilizes 4.5- to 5.5-inch tooling. Deeper drilling is conducted with diamond drilling, using PQ, HQ and NQ tooling. This practice continued through 2013. Since 2013, an RC drilling program was completed in 2014, and a metallurgical core program with the six drillholes was completed in 2017. Various protocols applied to drilling by Hycroft are consistent with industry standards and the resulting data is of good quality for use in the Hycroft model. Shallow drillholes to sample heap material were completed with sonic coring. The 2018 sonic drilling program was limited to 56 vertical holes in sulfide stockpiles and did not include in-situ alluvium or bedrock material. While these were not used for interpolation of in-situ rock, they were applied to estimate grades in fill material.

During 2021 through 2024, Hycroft drilled 261 holes, 105 in 2021, 85 in 2022, 49 in 2023 and 21 in 2024. Most of the 2021 drilling was diamond core that was used for metallurgical testing and assay. The 2022 and 2023 drilling focused on extending mineralization and upgrading areas from Inferred to Measured and Indicated classification. The 2024 drilling focused on high-grade mineralization in Brimstone and Vortex.

5.3 Production

Mining at the Mine began in 1983 with a small heap leach operation known as the Lewis Mine. In 1987, Vista acquired the Lewis Mine and in 1988, they acquired the Crofoot Mine. The Mine was comprised of various open pits on the property (e.g., the Bay, South Central, Boneyard, Gap and Historic Cut-4 pits along the Central Zone and Brimstone) and produced approximately 1.2 million ounces ("Moz") of Au and 2.5 Moz of Ag from 1983 to December 1998 when the operations were suspended due to low Au prices at the time (<$300/oz). An additional 58,700 ounces of Au were produced from the leaching and rinsing of the heap leach pads from 1999 through 2004, after the mine had been placed on a care and maintenance program. The remaining leasehold interest in the Lewis property was purchased by Vista in December 2005, in consideration of the US$5.1 M payment, resulting in the elimination of the 5% NSR royalty on Au and 7.5% NSR royalty on Ag.

Further information on the production history of the Mine comes from Hycroft's internal documents. Ore from the Lewis Mine was crushed and stacked on the Lewis leach pads in the north-central part of the Sulfur District. Approximately 259.2 Mtons of ore of a gold grade averaging 0.014 oz/ton were mined from 1983 to 2019 beginning with ore mined from the Lewis Mine followed by ore mined from the Bay, South Central, Boneyard, Gap and Historic Cut-4 pits, and finally the north end of the Brimstone pit producing over 2.082 Moz of Au.

The Crofoot leach pad (Pads 1 and 2) were constructed in 1987, and Pad 3 in 1992. Ore was placed on Pad 1 from 1988 to 1997, on Pad 2 from 1989 to 1997, and on Pad 3 from 1993 to 1997. Solutions from these pads were treated in the Crofoot Merrill-Crowe plant located on the northeast side of Pad 1.

Production from the Brimstone pit was placed on the Brimstone pad (Pads 4 and 5) as run-of-mine ("ROM"). Pad 4, constructed just south of the old Lewis pad, was completed in 1996. Loading of Pads 4 and 5 commenced in October 1996 and July 1997, respectively. A 2,800 gallon per minute Merrill-Crowe leach solution plant (the Brimstone Plant) was completed and put into operation in February 1997. The plant treated solutions from Pad 4. Pad 5 solutions were treated in the older Crofoot plant.

In May 2007, the Nevada-based holdings of Vista were spun out into Allied Nevada Gold Corp. The Mine was included as part of the transfer of ownership allowing Allied Nevada to explore, expand, and develop the resources at Hycroft.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 33

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

In September 2007, Allied Nevada's Board of Directors approved the reactivation of the Mine, and a year later in December 2008, the Mine had produced its first doré which was shipped to an offsite refinery for final processing, yielding Au and Ag bullion. Allied Nevada received a construction permit for the Brimstone Refinery in 2008, and construction was completed in June of 2009. By the end of 2009, the Mine was achieving the forecasted ore production capacity. In 2010, the mine began an expansion program which included the construction of a 21,000 gal/min Merrill-Crowe processing plant, a three-stage crushing facility and upgrades to their solution pumping capacity. With the construction of the North leach pad complete in 2013, the total leach pad surface area at the Mine site had increased to over 20 million square ft including the Brimstone and Lewis leach pads. Allied Nevada filed for bankruptcy on March 10, 2025, and active mining ceased in June 2015 due to low metal prices. Leaching of the mined ore continuing through 2018.

On October 22, 2015, Allied Nevada emerged from its financial restructuring and changed its name to Hycroft Mining Corporation. On May 29, 2020, Hycroft Mining Corporation completed a business combination with a publicly trade special purpose acquisition company ("SPAC"). Following the closing of the transaction, the SPAC changed its name to Hycroft Mining Holding Corporation.

In late 2018, Hycroft began construction of Phase 1 of the Jungo Leach Pad to expand process capacity for anticipated heap leach material. Additionally, Hycroft began preparing the mine for a restart. Active mining began again in April 2019 to November 10, 2021, transition ore was placed on the existing leach pads. Sulfide materials, when encountered during active mining, were set aside for future processing.

In November 2021, Hycroft suspended mining operations to refocus resources on metallurgical test work and exploration. Final construction of Phase 1 of the Jungo Leach Pad was suspended, and protective media cover material was placed on the multimedia liner. Electrical, instrumentation, and pumping equipment was placed in covered storage for a future restart.

The annual sales produced from the Mine's heap leach operations over years 2019 through 2022 was 107,258 oz Au and 629,904 oz Ag. There have been no gold or silver commodity sales since 2022.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 34

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

6 Geological Setting, Mineralization, and Deposit

6.1 Geological
 Setting

Section 6 has been written and updated by Alex Davidson, Vice-President of Exploration of Hycroft Resources and Development LLC and approved by IMC (Independent Mining Consultants). IMC is the qualified organization for this section.

The Hycroft deposit is a low-sulfidation, epithermal, hot springs system that contains Au and Ag mineralization. Radiometric dating of adularia (potassium feldspar) indicate that the main phase of Au and Ag mineralization formed approximately four million years ago (Ebert, S.W., & Rye, R.O. (1997)) when hydrothermal fluids were fed upward along high angle, normal faults. Low-grade Au and Ag mineralization was co-deposited with silica and potassium feldspar throughout porous rock types.

A subsequent drop in permeability, due to sealing of the system, led to over pressuring and subsequent repeated hydrothermal brecciation. Additional precious metal mineralization was deposited during this event as breccia zones, veins, and sulfide flooding.

Au and Ag mineralization was followed (0.7 to 4.0 million years ago, (Ebert, S.W., & Rye, R.O. (1997)))<sup>1</sup> by an intense event of high sulfidation acid leaching of the mineralized volcanic rocks coincident with a regional water table drop. This allowed steam heated sulfur gases to condense into sulfuric acid and leach the upper portion of the mineralized rocks.

Oxidation of sulfide mineralization occurs to variable depths over the deposit, depending upon proximity to faults, extent of acid leaching, and depth to water table. Sulfide content through the deposit is variable from 0% to 20%.

6.1.1 Regional
 Geology

The Mine is located on the western flank of the Kamma Mountains in the Basin and Range physiographic province of northwestern Nevada. The Kamma Mountains were formed during Miocene to Quaternary Epoch from the uplift of Jurassic basement rock and emplacement of Tertiary volcanic and sedimentary rocks. The stratigraphy along the western flank of the range is down dropped to the west, along a series of north to northeast striking normal faults. These faults served as conduits of hydrothermal fluids that deposited the Hycroft mineralization.

6.1.2 Local
 Geology

The Hycroft property consists of Tertiary to recent age, fault-controlled, low-sulfidation Au zones that occur over an area measuring approximately three miles in a north–south direction by two miles in an east–west direction. The zones are hosted in volcanic rock eruptive breccias, flows and conglomerates associated with the Tertiary Kamma Volcanics and sand to conglomeratic debris flows associated with the Tertiary Sulphur Group ("TSG").

Younger rocks at the mine are Tertiary conglomerate, siltstone and fanglomerate of the Sulphur Group (locally termed "Camel Conglomerate"). These rocks are comprised of sediment eroded from the underlying Kamma Volcanics and Jurassic Auld Lang Syne ("ALS") Formation. The Sulphur Group is divided into three main units: a clast-supported coarse conglomerate, a matrix-supported conglomerate, and an underlying tuffaceous lake sediment. This unit outcrops throughout the mine site with increasing thickness to the west.

The older Kamma Group is exposed throughout the Kamma Mountains east of the Central Fault. It underlies the Camel Conglomerate ("TCM"). The volcanic package is comprised of siliceous to intermediate tuffs, coarse grained volcanic clastics, fanglomerates, eruption breccias and massive to flow banded rhyolites.

<sup>1</sup>Secondary precious metal enrichment by steam-heated fluids in the Crofoot-Lewis hot spring gold -silver deposit.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 35

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The Jurassic ALS Formation underlies the Kamma volcanic package. This formation consists of a thin bedded to laminated siltstone, with calcite cementing. ALS is exposed approximately three miles east of the deposit and is encountered only at depth in drilling at Hycroft. A generalized stratigraphic column for the Hycroft deposit area is presented in Figure 6-1. This stratigraphic column illustrates the formations of volcanic origin that host the deposit with notations for lithologies in each formation. TCM of the TSG has been broken out as a separate rock, in addition to those shown in Figure 6-1. The sub-group of the TSG references lakebed sediments that are distinct from the TCM.

**Figure 6-1: Stratigraphic Column for Hycroft Deposit Area**

![](ex_008.jpg)

Source: SRK, 2019

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 36

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Six major north-northeast trending, west dipping, normal fault zones appear to broadly control the distribution of alteration as shown in Figure 6-2. From west to east, these fault zones are referred to as the Range, West Splay, Central, Break, Albert, and East Faults. These major structures down-drop stratigraphy and affect the distribution of alteration and mineralization. A post-mineral basin bounding fault (not pictured) appears to border TCM and the adjacent Pleistocene Lahontan Lake sediments in the Black Rock Desert. Based on geophysics, this structure is approximately one to two miles west of the mine site. There are several east–west trending structures that appear to provide post-mineral offset to the deposit. These form a series of horst and grabens within the deposit footprint.

Figure 6-2 is a mine grid north-looking section through the Mine showing structures and volcanic rock stratigraphy. There are also several other parallel fault zones that may have a significant impact on the localization of mineralization. The depth of oxide and mixed sulfide/oxide Au and Ag mineralization vary considerably throughout the area. Alteration at the deposit is dominated by acid leaching, silicification, argilization, and propylitization.

**Figure 6-2: Simplified East–West Cross Section through the Hycroft Mine – Section 40600 N**

![](ex_009.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 37

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

6.2 Mineralization
 and Alteration

The Hycroft deposit is broken into five major zones based on geology, mineralization, and alteration. These include Brimstone, Vortex, Central, Bay, and Camel. The boundaries are typically major faults, namely Break, East, and Ramp Faults. Continuity is structurally controlled and disseminated in each of these areas.

Detailed geologic work by previous owners at Hycroft identified several hydrothermal alteration events. However, for resource estimation purposes, the following four alteration types have been interpreted and assigned to the block model:

● Acid
 Leach – Associated with the upper portion of the epithermal vent. Native Sulfur is common
 in this area and the original protolith has been obliterated with a white clay alteration.

● Propylitic
 – Propylitic altered material is generally found in the volcanic rocks of the Kamma
 Mountains. Although it is occasionally interpreted within the mineralized zone of the deposit.

● Argillic
 – A pervasive alteration of both TCMs and the Kamma Volcanics clay minerals have replaced
 the original potassium feldspars and other minerals.

● Silicic
 – Silica flooding is associated with the mineralization processes at Hycroft.

Propylitic is generally barren or nearly so. It has been lumped with the argillic alteration units for grade estimation and assignment.

Silicic alteration generally has better grade than the surrounding argillic and is mechanically more robust.

Oxidation has occurred across the deposit to variable depth depending on the structural preparation and available acidic ground water. The oxidized material has been the historical ore for heap leaching at Hycroft. This study includes ROM leaching of low-grade mineralization and flotation of mineralization with sufficient pyrite and other sulfides to generate a gold and silver rich concentrate for further processing.

6.2.1 Brimstone

Brimstone is approximately ¾ mile wide (E-W) and approximately 1 mile long (N-S) and sits between the East Fault and Albert Fault. The stratigraphy (depth) at Brimstone includes up to 100 ft of alluvium, underlain by Camel Conglomerate rocks (0 ft to 400 ft), and Kamma volcanic rocks. ALS has been drilled at depth and is in fault contact (East Fault) as well as unconformably with the overlying Kamma Volcanics. The Brimstone deposit is hosted primarily by Kamma volcanic rocks in the hanging wall of the East Fault. The volcanic rocks are principally eruption breccias, tuffs, rhyolites, and volcanic rocks proximal to vents, and overlie deformed and metamorphosed shale, sandstone, and siltstone of the ALS group.

At Brimstone, the East Fault is a north-northeast striking, west dipping, normal fault with repeated episodes of movement, including approximately 150 ft to 200 ft of alluvial offset. Where exposed in the Brimstone pit, the fault clearly shows steep normal movement, with slickensides that plunge 80° to 85°. At depth the fault shallows to 45° to 60° and may merge with the Central and Break Faults. The fault may have originally served as a conduit to hydrothermal fluids.

North of the Brimstone deposit, the east–west trending Ramp Fault appears to down-drop favorable stratigraphy. Condemnation drilling of the leach pad to the north has shown only local zones of weak Au and Ag mineralization. To the south, the Brimstone Zone transitions to the Vortex Zone, with no apparent change in stratigraphy, but changes to alteration zonation.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 38

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Host rocks were highly altered by at least four phases of alteration. The relatively porous conglomerate and breccias were preferentially acid leached by late stage steaming hydrothermal acid vapors. Acid leach alteration extends to depths of 700 ft in some areas of the Brimstone deposit indicating that the water table was present below the base of the acid leached zone. A siliceous layer (basal acid leach), up to tens of feet thick, occurs at the base of the acid leach material. Underlying the acid leaching is a layer of hydrothermal clay alteration, followed by silica potassium feldspar alteration. Pervasive silicification, veining and hydrothermal brecciation are generally found in the rhyolites and breccias.

Zones of silicification of varying thickness, oriented parallel to the East Fault, are present in the footwall zone. Alteration extends approximately 1,000 ft from the fault into the footwall, with pervasive silicification and quartz veining dominant.

Au and Ag are spatially associated with fracture and breccia-controlled chalcedony sulfide mineralization. A subsequent acid alteration event produced the current distribution of oxidized and transition sulfide/oxide ore. The lower acid leach material hosts Au and Ag mineralization, as does the underlying silicified and veined volcanics.

Drilling through 2024 has shown that high-grade silver mineralization hosted in quartz/clay veins extends to a depth of over 1,800 ft in the Brimstone Zone. The high-grade silver veins have little to no association with gold, indicating gold and silver were deposited at different times. Petrography with support from geochemistry indicates some of the high-grade silver mineralization is potentially related to an intermediate sulfidation system and proximal to a magmatic fluid source. Mineralization thickness of the high-grade is highly variable but generally less than 100 ft thick (true width) and the broader overall Brimstone mineralization is 200 to 1,500 ft thick, and both mineralization styles remain open to the west toward the Break Fault. The main phase of mineralization in the high-grade silver is naumannite and argentotetrahedrite with inclusions of chalcopyrite, clausthite, and galena.

6.2.2 Vortex

Vortex area is approximately ¾ mile wide (E-W) and approximately 1 mile long (N-S) and sits east of the Albert Fault. The stratigraphy (depth) in the Vortex Zone is correlative with those at the Brimstone Zone immediately to the north. Camel Conglomerate is underlain by tuffs, volcanic clastics, fanglomerates, and rhyolites of the Kamma Volcanics. The ALS is present in the footwall of the East Fault and appears to be in stratigraphic contact with the Kamma Volcanics.

The upper elevation at Vortex is hydrothermally clay (kaolinite) altered. Acid leaching is less prominent than in Brimstone and is focused primarily along the East Fault. Strong silicification has been observed to depths greater than 1,500 ft. At least four hydrothermal mineralizing events are present, as evidenced by crosscutting vein and breccia relationships. Propylitic and/or clay alteration extends outboard of the silicification. The alteration within the Brimstone pit is depicted in Figure 6-3.

The mineralization at Vortex is of both vein and disseminated types, with brecciated and altered rhyolite rocks and volcanic clastics acting as favorable hosts. In addition to Au mineralization, high-grade Ag has been encountered at Vortex; with values ranging from 10 to 647 oz/ton. The predominant Ag minerals are miargyrite, and selenostephanite with inclusions of argentotetrahedrite, naumannite occurring both in veins, disseminated and coarse grains along fractures. Petrography and geochemistry support the low-sulfidation epithermal style of mineralization.

Oxide mineralization is present at a depth of approximately 500 ft below surface, with sulfide mineralization extending to 2,500 ft below surface. Mineralization thickness (true width) is 1,000 to 1,800 ft thick. Banded quartz veins with both high- grade Ag and Au have been noted in core. Drilling to date indicates that the high-grade zones are both high angle banded quartz veins and a more extensive flat lying, massive quartz zone containing visible pyrargyrite and miargyrite.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 39

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 6-3: Vortex Alteration Cross-Section – 40600 N**

![](ex_010.jpg)

Source: Hycroft, 2025

6.2.3 Bay

Bay area is approximately ¾ mile wide (E-W) and approximately 1.5 miles long (N-S) and sits north of the Camel Pit. Mineralization in Bay is hosted by gentle, west dipping Camel Conglomerate. Both clast-supported and matrix-supported conglomerate rocks host mineralization. The basal rock type is tuffaceous lake sediments, composed of fine-grained clay with minor layers of gravel and conglomerate extending to a depth greater than 1,100 ft. Mineralization is primarily bedding controlled, with the Range and Central Faults as the main feeders. The Break Fault may also have zoning controls but is poorly drilled in this zone. Mineralized siliceous hot spring sinters have been historically mined indicating that this deposit represents the upper-most levels of a hot spring hydrothermal system.

The predominant alteration type at Bay is silicification. Acid leach alteration in the area is relatively minor and occurs along high angle structures as seen in Figure 6-4. Clay alteration of the underlying lacustrine sediments is also noted in limited drillholes and is Illite-smectite dominated. Strong oxidation is present in the upper portion of the silicified zone.

Au and Ag mineralization is associated with flat lying Camel Conglomerate, above the lacustrine lake sediments. Mineralization thickness (true width) is 20 ft to 250 ft thick at Bay and 50 ft to 300 ft thick at Boneyard. This zone transitions into the upper zone of mineralization at Central. Bay and Boneyard remain open to the north and east.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 40

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 6-4: Bay Geologic Cross-Section at 50300-N**

![](ex_011.jpg)

Source: Hycroft, 2025

6.2.4 Central

Central area is approximately ½ mile wide (E-W) and approximately 1 mile long (N-S) and sits between Central Fault and West Splay Fault. Central geology is similar in nature to that of Bay, with mineralization and alteration fed by high angle faults and fractures, with dominant lateral fluid flow through the porous conglomerate rocks of the Sulphur Group. Camel Conglomerate units are underlain by lacustrine sediments. However, the lacustrine units thin dramatically to the south, with less than 50 ft of the material noted south of Historic Cut-4 Pit.

The Central fault movement is unknown, but extends at least 2,000 ft, with recent reactivation in the quaternary (50–150 ft), as demonstrated by offset in the alluvium. The Range Fault to the west may provide an additional boundary, although drill data is limited at this time. Alteration along the Central Zone is consistent with the alteration found at Bay. Acid leach alteration is stronger and more widespread than at Bay and is extensive in the southern portion of the zone. The acid leaching overlies silicified conglomerate rocks, except along the immediate trace of the Central Fault where silicification dominates as the alteration type as seen in Figure 6-4. Acid leach material has mostly been mined through and very little still exists in this area. Oxidation extends downward approximately 400 ft. Underlying the silicification and acid leaching are illite-smectite clay altered and clay dominant lacustrine sediments. Hot spring sinter deposits have not been observed.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 41

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Au and Ag mineralization is associated with favorable stratigraphic horizons in the Camel Conglomerate, with an upper and lower zone noted in drilling, separated by a north–south striking, east dipping clay layer. Mineralization remains open to the west, past the Range Fault, and at depth (>1,400 ft). Mineralization thickness (true width) in the upper zone is 50 ft to 300 ft thick, while the lower zone ranges from 300 ft to 1,200 ft thick and remains open at depth. The mineralization zone is contiguous to the Vortex and Brimstone Zones to the east, and the Camel Hill/ Historic Cut-5 Pit zones to the south.

6.2.5 Camel

Camel area is approximately ¾ mile wide (E-W) and approximately ½ mile long (N-S). Conglomerate is the dominant lithology at Camel. The conglomerates appear to extend to depth in this zone, with only thin lake sediments drilled to date. The lack of lake sediments can be attributed to either the Camel Fault or facies changes along a shoreline. The Camel Fault is an east–west trending fault, with down-drop to the south, which is presently poorly defined by drilling.

Alteration in the Camel area is predominantly comprised of silicification and clay alteration. Hydrothermal clays, overlying silicified conglomerate rocks, and basal illite-smectite clay altered rocks are present. Acid leaching in the area is relatively minor, especially with respect to the intensity and amount in the Central Zone area immediately to the northeast.

Mineralization in Camel is hosted by conglomerate rocks and occurs as both disseminated Au and Ag associated with pyrite and marcasite, and higher-grade veins, including Ag bearing pyrargyrite veins. Mineralization thickness (true width) is 200–1,100 ft thick, extends to depths greater than 1,400 ft, and remains open at depth. Oxidation extends to depths greater than 200 ft and an area of intense oxidized mordenite alteration is present between the Historic Cut-5 Pit and Camel. Mineralization remains open to the south, west and at depth. Mineralization is also open to the west of Camel and to the south towards Hades Fault.

6.3 Deposit
 Types

The Hycroft deposit is generally an epithermal, low-sulfidation hot springs deposit (Figure 6-5). Au and Ag mineralization are noted as both disseminated and vein controlled.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 42

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 6-5: Generalized Epithermal Diagram**

![](ex_012.jpg)

Source: Buchanan, 1981 and modified by Corbett Greg & Leach, Terry, 1998

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 43

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

7 Exploration

7.1 Exploration

Section 7 has been written and updated by Alex Davidson, Vice President of Exploration of Hycroft and approved by IMC. IMC is the qualified organization for this section. Hycroft has conducted geophysical surveys, soil and rock-chip sampling programs, field mapping, historical data compilation, and regional reconnaissance at the site. These efforts are designed to improve the understanding of known mineralization, as well as provide data for further exploration of the greater property position.

7.2 Geophysics

The land position has been surveyed with both gravity and induced polarity (IP) geophysical techniques by Hycroft. The current ground-based gravity survey covers approximately 130 square miles, centered on the mine site. Gravity indicates several structural features and density changes that offer potential exploration targets.

Ground induced polarization ("IP") surveys were run over the mine site and Vortex in 2007 and extended outward in 2011 to cover approximately 24 square miles. The survey results focus on chargeability anomalies, that potentially identify sulfide material (> approximately 1.5%) at depth, and resistivity anomalies, that potentially identify silicification at depth. Results have identified and confirm additional exploration targets suggested by the other geophysical methods.

An additional 56-line kilometers of IP were collected in four phases during the 2023 and 2024 exploration seasons which extended several of the lines from the previous surveys. The data from the new IP lines were incorporated into Voxel models which included historical IP data. The results from the survey focused on both chargeability and resistivity anomalies. Field mapping was historically and is currently carried out in all active mine areas. Mapping focuses on structure, bedding, joints, lithology, and alteration. The near mine data is incorporated into the three-dimensional geology model, while the regional work is focused on defining exploration targets for future drilling. A regional geology map covering the land position was compiled in 2012. Regional exploration data from Homestake, LAC Minerals, USX, HRDI, and others has been compiled from both in-house and public data sources. Approximately 250 drillholes, various soil and rock chip locations and results, and various field maps have been identified at present.

In 2022 a hyperspectral imaging flyover of the Hycroft was conducted by SpecTIR Advanced Hyperspectral Solutions. Both longwave infrared ("LWIR") and shortwave infrared ("SWIR") imaging were collected with the intent of helping identify key minerals on the surface to focus reconnaissance mapping and soils programs. Total flyover grid was 1,200 sq kilometers.

7.3 Soil
 Sampling

A soil sampling grid was conducted over the Vortex and Brimstone areas historically (1,797 samples) and was extended approximately 5,200 ft north and 29,600 ft south of the mine in 2011–2012 (1,834 samples). The soil sampling program was conducted primarily along the East Fault exposure, which is a primary ore-controlling feature at Vortex and Brimstone. Results, using Au, Ag, arsenic, and antimony, indicate potential exploration targets to the south of the Vortex area. At present this work has identified several target areas. Au values range from 0 to 0.027 oz/ton, while Ag values range from 0 to 3.7 oz/ton. Soil samples are taken on an evenly spaced grid (approximate 100-meter grid spacing), and screened for coarse material and wind-blown material, resulting in a fraction between 2 mm and 180 µm being prepped for analysis. These samples are considered representative of local soil geochemistry and are used to guide the regional exploration effort.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 44

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

7.4 Rock-chip
 Sampling

Rock-chip sampling has been conducted both historically in the active mine area, and on a regional basis (2007–present). A database of 2,416 samples has been compiled, covering the greater land position. Using Au, Ag, arsenic, and other elements, exploration targets have been developed both north and south of the current mine. Rock-chip samples have been taken on most outcrops, with a focus on alteration and potential mineralization. These samples are used as a guide to exploration and are point samples only.

An additional 206 rock-chip samples were collected in the 2023 and 2024 exploration season within the mine area and immediately east of the mine area. The gold values include 22 samples with greater than 0.03 oz/ton Au; two samples with greater than 0.23 oz/ton Au. These samples were collected in mineralized structures in the Bay Pit highwall. Silver values include 16 samples with greater than 0.58 oz/ton Ag; two samples with greater than 5.9 oz/ton Ag (maximum 15.2 oz/ton Ag). These samples were collected in mineralized structures in the Brimstone pit highwall and were not collected on a grid.

7.5 Drilling

7.5.1 Introduction

The Hycroft drill history covers the period from 1982 through 2024 and includes 6,024 holes, representing 2,814,546 ft of drilling. Some of those holes are water wells or are outside the resource model area and were not applied to mineral resource estimation. The drillhole collar locations are shown in Figure 7-1. At this time, there are 5,813 drillholes in the resource model area of which 188 have been drilled to define stockpiles or the Crofoot leach pad. Section 11 provides a more detailed breakdown of the amount of drilling and assaying used in modeling.

7.5.2 Exploration
 Drilling

Exploration drilling was started in 1974 by Duval Corporation, which was evaluating the property for a Frasch-type sulfur deposit and the copper potential. Although native sulfur appeared to be limited to the acid leach zone, Au and Ag mineralization was discovered at depth, with the deepest hole completed to 2,000 ft. Duval concluded that the property did not have large scale sulfur potential. Twenty drillholes (9,726 ft) were completed on the project. Hycroft does not have access to the Duval Corporation drilling data and therefore is not a part of the Hycroft database.

Homestake (1982), using their McLaughlin deposit as a model, completed 96 RC drillholes totaling 16,537 ft, primarily in the Bay and Boneyard areas. Shallow oxide Au mineralization was discovered, but Homestake declined the opportunity. Crofoot and American Slag then proceeded to acquire the property rights and initiated small-scale oxide heap leach mining at Central and Bay in 1983. Homestake also completed 8 core holes during this timeframe, but collar location data has not been located.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 45

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Hycroft gained control of the district in 1985 and drilled 3,212 exploration holes, totaling 965,552 ft, between 1985 and 1999. The bulk of this drilling was shallow and focused on oxide Au mineralization at Central, Bay and Brimstone.

In 2005, Canyon Resources completed 33 drillholes totaling 13,275 ft of RC drilling. These were completed primarily in the Brimstone pit area.

Hycroft commenced systematic exploration and resource development drilling starting in 2006. Drilling was focused on oxide resource delineation, sulfide resource definition, sulfide exploration, condemnation drilling for facilities, Ag data and both geotechnical and metallurgical core samples. Between late-2006 and August 31, 2016, Hycroft completed 1,970 exploration holes, totaling approximately 1.45 million ft.

A combination of rotary, RC and core drilling techniques has been utilized to verify the nature and extent of mineralization. Most samples have been collected using RC drilling methods on 5 ft sample intervals. RC drilling utilizes 4.5- to 5.5-inch tooling. Deeper drilling is conducted with diamond drilling, using PQ, HQ and NQ tooling. This practice continued through 2013. Since 2013, an RC drilling program was completed in 2014, and a metallurgical core program with six drillholes was completed in 2017. Various protocols applied to drilling by Hycroft are consistent with industry standards and the resulting data is of good quality for use in the Hycroft model. Shallow drillholes to sample heap material were completed with sonic coring. The 2018 sonic drilling program was limited to 56 vertical holes in sulfide stockpiles and did not include in-situ alluvium or bedrock material. While these were not used for interpolation of in-situ rock, they were applied to estimate grades in fill material.

During 2021 through 2024, Hycroft drilled 260 holes, 105 in 2021, 85 in 2022, 49 in 2023 and 21 in 2024. Most of the 2021 drilling was diamond core that was used for metallurgical testing and assay. The 2022 and 2023 drilling focused on extending mineralization and upgrading areas from Inferred to Measured and Indicated classification. The 2024 drilling focused on high-grade mineralization in Brimstone and Vortex.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 46

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 7-1: Drill Collar Location Plan**

![](ex_013.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 47

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 7-1: Drilling from 2023 and 2024 Supporting an Updated Mineral Resource Estimation**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Hole ID** | **Northing** | **Easting** | **Elevation<br> (m-asl)** | **Hole length (ft)** | **Inclination (deg)** | **Azimuth<br> (deg)** |
| H23C-5767 | 23022.532 | 39788.972 | 5050.094 | 1000 | -57.98 | 243 |
| H23C-5768 | 23097.466 | 39986.601 | 5048.798 | 1020 | -57.98 | 243 |
| H23C-5769 | 19563.12 | 40199.23 | 4458.06 | 1750 | -57.98 | 243 |
| H23C-5770 | 19024.77 | 40418.99 | 4239.71 | 1887 | -57.98 | 243 |
| H23C-5776 | 18426.95 | 40800.25 | 4361.54 | 1629.5 | -57.98 | 243 |
| H23C-5778 | 25545.11 | 36956.82 | 5616.41 | 1000 | -57.98 | 243 |
| H23C-5780 | 25984.36 | 36976.45 | 5575.68 | 605 | -57.98 | 243 |
| H23C-5781 | 25980.93 | 36976.25 | 5575.86 | 753 | -57.98 | 243 |
| H23R-5747 | 22189.79 | 39295.821 | 5001.41 | 1300 | -70 | 90 |
| H23R-5748 | 17122 | 38400.01 | 4606.39 | 1300 | -70 | 90 |
| H23R-5749 | 17178.57 | 38589.8 | 4598.47 | 1300 | -70 | 90 |
| H23R-5750 | 17078.89 | 38776.26 | 4598.543 | 1400 | -70 | 90 |
| H23R-5751 | 17039.71 | 38669.56 | 4599.205 | 1760 | -70 | 90 |
| H23R-5752 | 17039.97 | 38669.7 | 4599.259 | 1400 | -70 | 90 |
| H23R-5753 | 22119.91 | 42749.64 | 4479.94 | 1200 | -70 | 90 |
| H23R-5754 | 21510.24 | 41418.17 | 4501.49 | 1250 | -70 | 90 |
| H23R-5755 | 16516.25 | 37642.36 | 4406.38 | 800 | -70 | 90 |
| H23R-5756 | 16369.51 | 38282.53 | 4302.76 | 1100 | -70 | 90 |
| H23R-5757 | 16902.9 | 38592.574 | 4597.643 | 1200 | -70 | 90 |
| H23R-5758 | 16916.07 | 38779.44 | 4599.196 | 1400 | -70 | 90 |
| H23R-5759 | 17064.069 | 38765.321 | 4599.206 | 1300 | -70 | 90 |
| H23R-5760 | 22545.27 | 42526.38 | 4617.74 | 1500 | -70 | 90 |
| H23R-5761 | 22540.37 | 42621.83 | 4619.23 | 1500 | -70 | 90 |
| H23R-5762 | 16878.68 | 40805.17 | 4439.201 | 1510 | -70 | 90 |
| H23R-5763 | 17117.9 | 40800.38 | 4448.28 | 1700 | -70 | 90 |
| H23R-5764 | 17366.39 | 40800.14 | 4433.93 | 1720 | -70 | 90 |
| H23R-5765 | 21362.57 | 41350.61 | 4508.29 | 1250 | -70 | 90 |
| H23R-5766 | 21642.38 | 40908.35 | 4653.27 | 1500 | -70 | 90 |
| H23R-5771 | 22375.51 | 42362.41 | 4619.92 | 1210.4 | -70 | 90 |
| H23R-5773 | 22579.05 | 44400.47 | 4834.02 | 1380 | -70 | 90 |
| H23R-5774 | 22577.06 | 44400.39 | 4834.09 | 1500 | -70 | 90 |
| H23R-5784 | 16389.27 | 37693.98 | 4375.49 | 950 | -70 | 90 |
| H23R-5785 | 16130.29 | 37479.09 | 4343.28 | 750 | -70 | 90 |
| H23R-5786 | 16212.63 | 37860.99 | 4357.13 | 800 | -70 | 90 |
| H23C-5787 | 25261.92 | 36571.14 | 5560.73 | 800 | -57.98 | 243 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 48

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Hole ID** | &nbsp;&nbsp;**Northing** | &nbsp;&nbsp;**Easting** | &nbsp;&nbsp;**Elevation<br> (m-asl)** | &nbsp;&nbsp;**Hole length (ft)** | &nbsp;&nbsp;**Inclination (deg)** | &nbsp;&nbsp;**Azimuth<br> (deg)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| H23C-5777 | 26047.99 | 37510.26 | 5710.02 | 659 | -57.98 | 243 |
| H23C-5779 | 25048.82 | 36226.86 | 5511.94 | 610 | -57.98 | 243 |
| H23C-5790 | 22137.378 | 42732.949 | 4481.43 | 1222 | -57.98 | 243 |
| H23C-5794 | 26978.764 | 38048.934 | 5725.895 | 1625.5 | -70 | 90 |
| H23C-5795 | 22368.307 | 42211.245 | 4615.752 | 1205 | -70 | 90 |
| H23R-5775 | 22107.49 | 41546.68 | 4597.67 | 1378 | -70 | 90 |
| H23R-5782 | 22417.57 | 41989.33 | 4611.14 | 1200 | -70 | 90 |
| H23R-5792 | 19737.808 | 47981.098 | 4592.636 | 450 | -70 | 90 |
| H23C-5788 | 22124 | 42755 | 4480 | 785 | -57.98 | 243 |
| H23C-5789 | 21501.12 | 41405.63 | 4501.13 | 1260 | -57.98 | 243 |
| H23C-5796 | 14219.804 | 30051.704 | 5258.447 | 564 | -70 | 90 |
| H23C-5797 | 14216.243 | 30054.634 | 5258.395 | 421 | -70 | 90 |
| H23C-5791 | 19202.43 | 50349.998 | 4466.932 | 556 | -62.53 | 91.39 |
| H23C-5798 | 21842.82 | 42721.378 | 4480.006 | 1306 | -70 | 90 |
| H24D-6000 | 18456.79 | 41109.25 | 4358.82 | 1288.1 | -51.55 | 139.51 |
| H24D-6001 | 20279.43 | 40613.29 | 4845.23 | 1897 | -81.79 | 225.4 |
| H24D-6002 | 19532.83 | 39871.49 | 4497.08 | 1936.6 | -72.19 | 28.04 |
| H24D-6003 | 21617.07 | 42344.04 | 4522.26 | 1603 | -57.96 | 74.93 |
| H24D-6004 | 21632.9 | 42668.16 | 4480.78 | 1491 | -53.29 | 85.89 |
| H24D-6005 | 20430.43 | 39723.11 | 4874.35 | 1978 | -80.04 | 37.12 |
| H24D-6007 | 18467.86 | 39384.38 | 4603.13 | 1764.3 | -65.42 | 19.17 |
| H24D-6009 | 21596.98 | 42343.93 | 4522.13 | 1439 | -60.25 | 96.83 |
| H24D-6010 | 22075.19 | 42771.26 | 4480.41 | 1270 | -58.27 | 121.77 |
| H24D-6008 | 21414.42 | 42576.31 | 4525.28 | 1589.3 | -65.42 | 19.17 |
| H24D-6011 | 22083.7 | 42463.77 | 4520 | 1128.9 | -58.27 | 118.96 |
| H24D-6012 | 21577.37 | 42129.56 | 4563.03 | 1480 | -77.5 | 16.35 |
| H24E-6013 | 19581.635 | 52769.501 | 4459.163 | 662 | -49.93 | 81.98 |
| H24E-6014 | 19438.89 | 51895.48 | 4426.114 | 600 | -49.93 | 81.98 |
| H24E-6015 | 23464.19 | 39901.24 | 5307.52 | 785 | -49.93 | 81.98 |
| H24D-6006 | 18702.71 | 40106.39 | 4419.27 | 1319.8 | -80.04 | 37.12 |
| H24D-6016 | 18394.08 | 39005.45 | 4671.78 | 2107 | -63.53 | 20.92 |
| H24D-6017 | 22075.42 | 42769.46 | 4479 | 1235.4 | -63.53 | 20.92 |
| H24D-6018 | 22084.57 | 42462.56 | 4520.41 | 1186 | -63.53 | 20.92 |
| H24D-6019 | 21733.69 | 42244 | 4521.2 | 1701 | -63.53 | 20.92 |
| H24D-6020 | 21876.02 | 42083.76 | 4559.42 | 1254.7 | -49.93 | 81.98 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 49

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

7.5.2.1 Drilling
 Methods

Drilling at Hycroft has been a mix of diamond core holes, reverse circulation ("RC"), and sonic drilling. A total of 6,024 drill holes representing 2,814,546 ft of drilling has been performed throughout the history of the project. A total of 35,647 down-hole surveys exist in the database.

7.5.2.2 Logging
 Procedures

Core is loaded into cardboard boxes in approximately ten-foot intervals and are transported to the core processing facility. Geology data is logged directly into acQuire by the staff geologists where they log formation, lithology, structure, vein, mineralization, and alteration, and geotechnical data.

7.5.2.3 Recovery

The average sample recovery within the ore at Hycroft is 82% and the average sample recovery within the waste is 75%.

7.5.2.4 Sample
 Length/True Thickness

Sample length is generally 5 ft intervals sampled down the drill hole but broken in smaller intervals based on local geologic variation. The true thickness of mineralization is tens, of feet to more than 2,000 ft.

7.6 Hydrogeology

An extensive program of hydrologic data collection was implemented by SRK Consulting (US) Inc. ("SRK") for a previous owner of the property. That work is summarized in a report titled "Summary of Field Investigations and Conceptual Hydrogeology – Hycroft Mine Expansion Project, Nevada", August 2013. SRK collected data from 43 drill holes including monitor wells, piezometers, slug tests, packer tests, long-term pumping tests, and ground water level monitoring. Eighty-one ground water samples were collected and analyzed over a period of a year and a quarter. The SRK work was utilized during the preliminary geotechnical analysis of the Hycroft pit slopes.

IMC holds the opinion that hydrologic data collection and analysis are appropriate to determine mineral resources and a preliminary economic assessment.

7.7 Geotechnical

Call & Nicholas, Inc. ("CNI") has completed geotechnical data collection and analysis. CNI has prepared two reports titled: "Hycroft Geotechnical Slope Stability Study; February 2022, and "2023 Camel Pit Geotechnical Logging and Laboratory Testing Report". October 2023. Geotechnical laboratory testing has been completed by CNI during 2010, 2011, 2021, and 2023.

Two geotechnical holes were drilled in 2022 using diamond core methods (H22D-5726 and H22D-5729). These holes were sampled and logged for rock quality designation ("RQD") and other geotechnical parameters by CNI engineers on site at Hycroft. Hole H22D-5729 was also televiewer logged.

CNI has provided slope angle recommendations that have been utilized to establish the mineral resource presented in this document.

IMC holds the opinion that geotechnical work is appropriate for development of mineral resources and preliminary economic assessment. Additional work will be required as the project progresses, and more detail is required.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 50

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

7.8 Exploration
 Targets

In mid-2022 Hycroft restarted exploration drilling with the primary goal of converting waste material and inferred resource into Measured and Indicated resource. The drilling was dominantly RC, and RC with core tails occurring on the deeper (<1,800 ft) holes (See Table 7-2). In the second half of 2023 the program was re-aligned due to the recognition of significant silver grades both within subvertical thin veining in Brimstone and within a low angle breccia body at Vortex. Subsequently, the drilling method was switched to core to better understand and define structural complexities at Brimstone and Vortex. The drilling in Brimstone indicates the zone of veining is related to a structural dilation zone between East Fault related structures. The geometry of the high-grade Brimstone deposit has not been fully defined and remains open at depth and along strike. The drilling in Vortex along with additional mapping east on the trend of the Vortex mineralization, indicates the Vortex deposit is related to a pre-mineral detachment fault. Exploration targets were also identified outside the resource area to the east (Manganese and Wildrose) and south (Oscar) with work on these areas including detailed field mapping, soil and rock-chip geochemistry, IP geophysics, and core drilling. Additionally, exploration work was completed at Bay to start defining vein geometry as it extends below the current resource. These targets are still conceptual and may require significant work before a resource can be determined. Hycroft will continue to develop these high value targets in future exploration programs. The exploration program continued through 2024 with one core drill completing 21 holes totaling approximately 30,000 ft, which was exclusively focused on high-grade silver zones within Brimstone and Vortex.

**Table 7-2: Significant Intercepts (2023)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Grade** | **Grade** |
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Au (g/t)** | **Ag (g/t)** |
| **H23R-5748** | **Camel** | **105.16** | **134.11** | **28.96** | **0.41** | **8.82** |
|  | **Camel** | 204.22 | 251.46 | 47.24 | 0.53 | 5.71 |
| *including* | **Camel** | 205.74 | 219.46 | 13.72 | 0.61 | 10.84 |
| **H23R-5749** | **Camel** | **195.07** | **240.79** | **45.72** | **0.53** | **4.86** |
| *including* | **Camel** | 204.22 | 222.50 | 18.29 | 0.64 | 3.75 |
|  | **Camel** | 288.04 | 304.80 | 16.76 | 0.39 | 5.39 |
|  | **Camel** | 368.81 | 377.95 | 9.14 | 0.39 | 3.42 |
| **H23R-5750** | **Camel** | **156.97** | **184.40** | **27.43** | **0.45** | **4.08** |
|  | **Camel** | 210.31 | 245.36 | 35.05 | 0.50 | 4.18 |
|  | **Camel** | 278.89 | 297.18 | 18.29 | 0.33 | 3.59 |
|  | **Camel** | 377.95 | 387.10 | 9.14 | 0.44 | 4.17 |
| **H23R-5751** | **Camel** | **112.78** | **211.84** | **99.06** | **0.46** | **6.88** |
| *including* | **Camel** | 192.02 | 204.22 | 12.19 | 0.63 | 13.91 |
|  | **Camel** | 393.19 | 429.77 | 36.58 | 0.41 | 3.24 |
| **H23R-5752** | **Camel** | 152.40 | 219.46 | 67.06 | 0.41 | 4.91 |
|  | **Camel** | 333.76 | 371.86 | 38.10 | 0.37 | 29.32 |
| *including* | **Camel** | 338.33 | 345.95 | 7.62 | 0.33 | 85.36 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 51

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Hole ID** | &nbsp;&nbsp;**Area** | &nbsp;&nbsp;**From (m)** | &nbsp;&nbsp;**To (m)** | &nbsp;&nbsp;**Interval (m)** | &nbsp;&nbsp;**Grade** | &nbsp;&nbsp;**Grade** |
| &nbsp;&nbsp;**Hole ID** | &nbsp;&nbsp;**Area** | &nbsp;&nbsp;**From (m)** | &nbsp;&nbsp;**To (m)** | &nbsp;&nbsp;**Interval (m)** | &nbsp;&nbsp;**Au (g/t)** | &nbsp;&nbsp;**Ag (g/t)** |
| **H23R-5757** | **Camel** | 45.72 | 111.25 | 65.53 | 0.51 | 10.38 |
| *including* | **Camel** | 45.72 | 56.39 | 10.67 | 0.50 | 36.37 |
|  | **Camel** | 126.49 | 259.08 | 132.59 | 0.54 | 1.37 |
| *including* | **Camel** | 138.68 | 184.40 | 45.72 | 0.69 | 8.78 |
|  | **Camel** | 350.52 | 365.76 | 15.24 | 0.47 | 7.67 |
| **H23R-5758** | **Camel** | 129.54 | 234.70 | 105.16 | 0.44 | 4.97 |
|  | **Camel** | 298.70 | 329.18 | 30.48 | 0.41 | 2.31 |
| **H23R-5759** | **Camel** | 27.43 | 231.65 | 204.22 | 0.53 | 20.70 |
| *including* | **Camel** | 27.43 | 68.58 | 41.15 | 0.49 | 75.81 |
| *including* | **Camel** | 80.77 | 128.02 | 47.24 | 0.78 | 8.19 |
|  | **Camel** | 281.94 | 359.66 | 77.72 | 0.35 | 3.48 |
| **H23R-5784** | **Camel** | 105.16 | 158.50 | 53.34 | 0.47 | 11.86 |
|  | **Camel** | 237.74 | 289.56 | 51.82 | 0.42 | 12.26 |
| **H23R-5786** | **Camel** | 60.96 | 135.64 | 74.68 | 0.36 | 41.20 |
| *including* | **Camel** | 60.96 | 86.87 | 25.91 | 0.29 | 106.01 |
|  | **Camel** | 173.74 | 225.55 | 51.82 | 0.43 | 44.99 |
| *including* | **Camel** | 173.74 | 181.36 | 7.62 | 0.49 | 266.72 |
| **H23R-5756** | **Camel** | 12.19 | 68.58 | 56.39 | 0.40 | 4.58 |
|  | **Camel** | 141.73 | 204.22 | 62.48 | 0.36 | 4.76 |
|  | **Camel** | 224.03 | 240.79 | 16.76 | 0.43 | 2.31 |
| **H23R-5785** | **Camel** | 164.59 | 213.36 | 48.77 | 0.50 | 43.60 |
| *including* | **Camel** | 172.21 | 184.40 | 12.19 | 0.59 | 161.16 |
| **H23R-5762** | **Camel** | 4.57 | 13.72 | 9.14 | 0.41 | 6.42 |
|  | **Camel** | 48.77 | 455.68 | 406.91 | 0.39 | 4.90 |
| *including* | **Camel** | 137.16 | 202.69 | 65.53 | 0.59 | 6.14 |
| **H23R-5763** | **Camel** | 190.50 | 236.22 | 45.72 | 0.51 | 5.36 |
|  | **Camel** | 254.51 | 445.01 | 190.50 | 0.42 | 4.99 |
| *including* | **Camel** | 367.28 | 445.01 | 77.72 | 0.53 | 3.76 |
| **H23R-5764** | **Camel** | 275.84 | 300.23 | 24.38 | 0.57 | 4.32 |
|  | **Camel** | 396.24 | 519.68 | 123.44 | 0.47 | 7.00 |
| **H23C-5769** | **Vortex** | 357.62 | 417.15 | 59.53 | 0.36 | 75.91 |
| *including* | **Vortex** | 399.32 | 417.15 | 17.83 | 0.55 | 211.89 |
| **H23C-5770** | **Vortex** | 0.00 | 29.57 | 29.57 | 0.45 | 7.42 |
|  | **Vortex** | 224.27 | 328.00 | 103.72 | 0.37 | 6.62 |
|  | **Vortex** | 347.38 | 398.07 | 50.69 | 0.50 | 139.87 |
| *including* | **Vortex** | 350.58 | 368.72 | 18.14 | 0.31 | 288.82 |
| *including* | **Vortex** | 387.16 | 398.07 | 10.91 | 1.29 | 138.48 |
| **H23R-5773** | **Brimstone** | 88.39 | 141.73 | 53.34 | 0.24 | 24.41 |
| including | **Brimstone** | 121.92 | 134.11 | 12.19 | 0.32 | 56.84 |
|  | **Brimstone** | 310.90 | 342.90 | 32.00 | 0.51 | 4.87 |
|  | **Brimstone** | 359.66 | 411.48 | 51.82 | 0.38 | 3.98 |
| **H23R-5774** | **Brimstone** | 108.20 | 111.25 | 3.05 | 0.36 | 57.00 |
|  | **Brimstone** | 129.54 | 132.59 | 3.05 | 0.59 | 30.85 |
|  | **Brimstone** | 275.84 | 278.89 | 3.05 | 0.69 | 34.45 |
|  | **Brimstone** | 315.47 | 326.14 | 10.67 | 0.44 | 26.83 |
|  | **Brimstone** | 393.19 | 396.24 | 3.05 | 0.54 | 5.00 |
| **H23C-5768** | **Brimstone** | 61.87 | 67.97 | 6.10 | 0.39 | 210.50 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 52

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 7-3: Significant Intercepts (2024)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Grade** | **Grade** |
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Au (g/t)** | **Ag (g/t)** |
| **H24D-6000** | **Vortex** | 71.7 | 102.3 | 30.5 | 0.64 | 13.80 |
|  | **Vortex** | 272 | 318.8 | 46.8 | 0.69 | 18.12 |
| **H24D-6001** | **Vortex** | 189.3 | 224.6 | 35.3 | 0.66 | 6.32 |
| *Including* | **Vortex** | 220 | 223.5 | 3.5 | 1.07 | 16.76 |
|  | **Vortex** | 383.2 | 507.5 | 124.4 | 0.95 | 102.59 |
| *Including* | **Vortex** | 385.4 | 388.2 | 2.8 | 7.38 | 40.85 |
| *Including* | **Vortex** | 385.4 | 386.3 | 0.9 | 19.65 | 80.60 |
| *Including* | **Vortex** | 410.7 | 424.8 | 14.2 | 2.13 | 77.34 |
| *Including* | **Vortex** | 449.4 | 488 | 38.6 | 0.71 | 134.25 |
| *Including* | **Vortex** | 451.7 | 452 | 0.3 | 0.03 | 4170.00 |
| *Including* | **Vortex** | 458.5 | 462.1 | 3.6 | 2.99 | 40.94 |
| *Including* | **Vortex** | 470.2 | 478.9 | 8.7 | 0.32 | 207.33 |
|  | **Vortex** | 498.2 | 507 | 8.9 | 0.31 | 475.56 |
| *Including* | **Vortex** | 498.2 | 498.8 | 0.7 | 0.42 | 1700.00 |
| *Including* | **Vortex** | 504.6 | 506 | 1.4 | 0.34 | 1538.78 |
| **H24D-6002** | **Vortex** | 357.3 | 458.2 | 100.9 | 0.38 | 100.65 |
| *Including* | **Vortex** | 357.3 | 359.3 | 2.1 | 2.86 | 4.53 |
|  | **Vortex** | 428.4 | 448.8 | 20.4 | 0.83 | 357.01 |
| *Including* | **Vortex** | 428.4 | 429.4 | 1 | 1.38 | 300.12 |
| *Including* | **Vortex** | 435.9 | 439.5 | 3.6 | 0.66 | 397.04 |
| *Including* | **Vortex** | 440.4 | 445 | 4.6 | 1.59 | 1066.47 |
| *Including* | **Vortex** | 441.9 | 442.4 | 0.5 | 5.90 | 3310.00 |
|  | **Vortex** | 452.2 | 454.2 | 2 | 0.32 | 225.49 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 53

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Grade** | **Grade** |
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Au (g/t)** | **Ag (g/t)** |
| **H24D-6005** | **Vortex** | 111.2 | 119.1 | 8 | 0.79 | 176.54 |
|  | **Vortex** | 207.4 | 234.5 | 27.1 | 0.40 | 6.33 |
|  | **Vortex** | 254.4 | 476.9 | 222.4 | 0.45 | 32.38 |
| *Including* | **Vortex** | 385.2 | 395.2 | 10 | 0.34 | 328.25 |
| *Including* | **Vortex** | 385.2 | 386.9 | 1.7 | 0.94 | 1155.27 |
| *Including* | **Vortex** | 408.2 | 419 | 10.8 | 0.24 | 107.02 |
|  | **Vortex** | 537.1 | 556.1 | 19 | 0.37 | 142.14 |
| *Including* | **Vortex** | 537.4 | 537.6 | 0.3 | 0.06 | 6260.00 |
| **H24D-6006** | **Vortex** | 20.9 | 25.6 | 4.7 | 2.81 | 56.97 |
|  | **Vortex** | 19.6 | 31.3 | 11.7 | 1.38 | 31.50 |
|  | **Vortex** | 74.5 | 96.1 | 21.6 | 1.11 | 10.99 |
| Including |  | 74.5 | 79.2 | 4.8 | 0.91 | 8.60 |
| Including |  | 82.2 | 86.1 | 3.9 | 0.56 | 6.19 |
|  |  | 279.7 | 280.1 | 0.4 | 0.15 | 581.00 |
|  |  | 346.2 | 400.9 | 54.7 | 0.68 | 12.86 |
| Including |  | 351.8 | 355.1 | 3.3 | 2.19 | 9.29 |
| Including |  | 365 | 367.4 | 2.5 | 4.23 | 16.71 |
| *Including* |  | 373.3 | 375.3 | 2 | 1.05 | 16.13 |
| **H24D-6007** | **Vortex** | 46.1 | 93.6 | 47.4 | 0.35 | 22.51 |
| *Including* | **Vortex** | 47.7 | 50.2 | 2.6 | 0.12 | 307.40 |
| *Including* | **Vortex** | 64 | 64.6 | 0.5 | 3.10 | 54.40 |
|  | **Vortex** | 113.4 | 125 | 11.6 | 0.98 | 16.56 |
|  | **Vortex** | 371.3 | 399.5 | 28.2 | 0.44 | 11.98 |
|  | **Vortex** | 468.4 | 537.8 | 69.4 | 0.57 | 108.38 |
| *Including* | **Vortex** | 468.4 | 474.7 | 6.4 | 0.63 | 213.71 |
| *Including* | **Vortex** | 497.1 | 537.8 | 40.7 | 0.73 | 144.25 |
| *Including* | **Vortex** | 497.1 | 500.9 | 3.8 | 0.23 | 193.57 |
| *Including* | **Vortex** | 512.4 | 514.9 | 2.5 | 0.72 | 645.25 |
| *Including* | **Vortex** | 513.2 | 513.7 | 0.5 | 1.19 | 1430.00 |
| *Including* | **Vortex** | 536.3 | 537.8 | 1.5 | 4.78 | 960.00 |
| **H24D-6016** | **Vortex** | 405.4 | 456.3 | 50.9 | 0.42 | 19.38 |
|  | **Vortex** | 472.3 | 518 | 45.7 | 0.49 | 15.57 |
|  | **Vortex** | 535.3 | 557.2 | 21.9 | 0.40 | 53.80 |
| **H24D-6003** | **Brimstone** | 0 | 23.8 | 23.8 | 0.29 | 10.80 |
|  | **Brimstone** | 42.4 | 47.8 | 5.5 | 0.20 | 119.54 |
|  | **Brimstone** | 250.7 | 278.3 | 27.6 | 0.38 | 4.13 |
|  | **Brimstone** | 351.4 | 440 | 88.5 | 0.23 | 34.70 |
| *Including* | **Brimstone** | 386.7 | 386.8 | 0.2 | 0.12 | 1835.00 |
| *Including* | **Brimstone** | 397.7 | 397.9 | 0.2 | 0.62 | 8410.00 |
| *Including* | **Brimstone** | 418.8 | 421.1 | 2.3 | 0.08 | 130.87 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 54

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Grade** | **Grade** |
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Au (g/t)** | **Ag (g/t)** |
| **H24D-6004** | **Brimstone** | 0 | 18.6 | 18.6 | 0.63 | 24.59 |
|  | **Brimstone** | 341.4 | 361.6 | 20.2 | 0.34 | 5.48 |
|  | **Brimstone** | 413.8 | 442.1 | 28.3 | 0.31 | 14.19 |
| *Including* | **Brimstone** | 429.3 | 441.4 | 12 | 0.52 | 11.73 |
| **H24D-6008** | **Brimstone** | 458.6 | 474 | 15.4 | 0.45 | 12.81 |
| *Including* | **Brimstone** | 464.5 | 467.9 | 3.5 | 0.82 | 20.54 |
| *Including* | **Brimstone** | 470.2 | 474 | 3.8 | 0.46 | 19.83 |
| **H24D-6009** | **Brimstone** | 0 | 16.2 | 16.2 | 0.38 | 54.89 |
| *Including* |  | 4.8 | 6.4 | 1.5 | 1.05 | 353.24 |
|  |  | 333.2 | 358.7 | 25.5 | 0.35 | 5.46 |
|  |  | 417.9 | 423.5 | 5.6 | 0.10 | 150.80 |
| *Including* |  | 417.9 | 421.1 | 3.3 | 0.10 | 199.20 |
| *Also Including* |  | 420.3 | 420.6 | 0.2 | 0.10 | 652.00 |
| **H24D-6010** | **Brimstone** | 328.4 | 346.6 | 18.2 | 0.35 | 1987.35 |
| *Including* | **Brimstone** | 331 | 332.8 | 1.8 | 0.11 | 2612.33 |
| *Including* | **Brimstone** | 333.4 | 335.8 | 2.5 | 0.33 | 4683.70 |
| *Also Including* | **Brimstone** | 333.4 | 333.7 | 0.3 | 0.41 | 20280.00 |
| *Including* | **Brimstone** | 340.2 | 342.7 | 2.5 | 0.50 | 5513.43 |
| *Also Including* | **Brimstone** | 340.2 | 341.1 | 0.9 | 0.72 | 10289.00 |
| *Also Including* | **Brimstone** | 341.1 | 341.4 | 0.3 | 0.64 | 15211.00 |
| **H24D-6011** | **Brimstone** | 109.3 | 119 | 9.8 | 0.81 | 8.14 |
|  | **Brimstone** | 168.2 | 174.7 | 6.4 | 0.56 | 29.76 |
|  | **Brimstone** | 246.3 | 260.2 | 13.9 | 0.31 | 311.41 |
| *Including* | **Brimstone** | 249.9 | 252.8 | 2.9 | 0.27 | 1211.32 |
|  | **Brimstone** | 273.2 | 326.5 | 53.3 | 0.26 | 218.92 |
| *Including* | **Brimstone** | 289 | 314.4 | 25.3 | 0.28 | 401.50 |
| *Also Including* | **Brimstone** | 298.5 | 300.7 | 2.3 | 0.29 | 2210.81 |
| *Also Including* | **Brimstone** | 306.5 | 311.4 | 4.9 | 0.33 | 610.65 |
| **H24D-6012** | **Brimstone** | 37.3 | 37.8 | 0.4 | 0.49 | 4540.00 |
|  | **Brimstone** | 65.8 | 66.8 | 0.9 | 0.52 | 4040.00 |
|  | **Brimstone** | 284 | 325.2 | 41.2 | 0.39 | 7.28 |
| *Including* | **Brimstone** | 297.4 | 307.5 | 10.1 | 0.84 | 4.67 |
|  | **Brimstone** | 354.6 | 405.4 | 50.7 | 0.28 | 101.82 |
| *Including* | **Brimstone** | 354.6 | 357.7 | 3.1 | 0.58 | 36.37 |
| *Including* | **Brimstone** | 366.3 | 372.6 | 6.2 | 0.23 | 282.25 |
| *Also Including* | **Brimstone** | 370.1 | 370.8 | 0.7 | 0.12 | 1185.00 |
| *Including* | **Brimstone** | 385 | 386.6 | 1.6 | 0.09 | 1156.86 |
| *Including* | **Brimstone** | 400.8 | 405.4 | 4.6 | 0.12 | 202.67 |
|  | **Brimstone** | 419.1 | 421.5 | 2.4 | 0.24 | 103.52 |
| *Including* | **Brimstone** | 420.7 | 421.5 | 0.8 | 0.13 | 176.30 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 55

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Grade** | **Grade** |
| **Hole ID** | **Area** | **From (m)** | **To (m)** | **Interval (m)** | **Au (g/t)** | **Ag (g/t)** |
| **H24D-6017** | **Brimstone** | 312.6 | 332.5 | 20.0 | 0.45 | 70.02 |
| *Including* | **Brimstone** | 314.7 | 321.6 | 6.9 | 0.14 | 151.39 |
| **H24D-6018** | **Brimstone** | 306.6 | 327.9 | 21.2 | 0.38 | 2359.68 |
| *Including* | **Brimstone** | 317.4 | 324.7 | 7.3 | 0.59 | 6278.23 |
| *Also Including* | **Brimstone** | 317.4 | 317.6 | 0.2 | 1.62 | 80017.00 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **H24D-6019** | **Brimstone** | 148.0 | 155.0 | 6.9 | 0.98 | 9.76 |
|  | **Brimstone** | 379.1 | 392.4 | 13.3 | 0.16 | 314.05 |
| *Including* | **Brimstone** | 379.1 | 385.1 | 6.0 | 0.15 | 591.73 |
| **H24D-6020** | **Brimstone** | 262.8 | 274.7 | 11.9 | 0.34 | 25.86 |
|  | **Brimstone** | 320.4 | 349.2 | 28.8 | 0.32 | 320.7 |
| *Including* | **Brimstone** | 328.7 | 332.0 | 3.3 | 0.36 | 775.1 |
| *Including* | **Brimstone** | 335.6 | 341.3 | 5.7 | 0.48 | 642.40 |
| *Including* | **Brimstone** | 343.6 | 346.2 | 2.6 | 0.24 | 465.16 |
| **H24E-6013** | **Bay** | 0.0 | 55.5 | 55.5 | 0.45 | 3.00 |
| *Including* | **Bay** | 13.6 | 15.0 | 1.4 | 3.84 | 40.00 |
| **H24E-6014** | **Bay** | 9.0 | 14.7 | 5.7 | 2.68 | 4.10 |
| *Including* | **Bay** | 12.5 | 14.7 | 2.2 | 4.91 | 4.74 |
| **H24E-6015** | **Manganese** | 33.6 | 41.2 | 7.6 | 0.81 | 293.51 |
| *Including* | **Manganese** | 33.6 | 37.9 | 4.3 | 1.18 | 454.21 |
|  | **Manganese** | 55.4 | 55.9 | 0.6 | 7.91 | 117.00 |
|  | **Manganese** | 115.5 | 125.8 | 10.3 | 0.61 | 86.08 |
| Including | **Manganese** | 117.1 | 123.6 | 6.5 | 0.72 | 131.15 |
|  | **Manganese** | 168.0 | 173.9 | 5.9 | 0.46 | 6.03 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 56

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

8 Sample Preparation, Analyses, and Security

8.1 Introduction

This section describes the sample collection, preparation, analysis, and security that has been used by Hycroft or their predecessors. Drilling and sampling at the Mine have been ongoing from 1982 through 2024. Hycroft provided IMC with the database which contained assay information for drilling from 1982 through 2024. IMC is the qualified organization for the section.

Most of the current staff at Hycroft have been at site for less than five years. As a result, much of the information that is reported here regarding historical sample preparation, analysis, and security was previously reported in a Technical Report Summary of Initial Assessment on the Hycroft Mine, Nevada, United States of America, Prepared by Ausenco Engineering USA South Inc for Hycroft Mining Corporation, Effective date: March 27, 2023. IMC has confirmed that information as much as possible with the data provided.

Discussion of quality assurance and quality control ("QA/QC") regarding the database is presented in Section 9.

8.2 Sample
 Preparation

The sample preparation procedures prior to 1999 were not documented. Starting in 2005, preparation procedures were well documented with standard methods. The comparison of the pre-2005 data with post-2005 drilling will be presented in Section 9 to provide some confidence in the application of some of the pre-2005 data.

Post-2005 sample collection consisted of both diamond core and RC drilling. Core samples are currently split at the mine site, tagged, and the split core is sent to commercial laboratories for further preparation. RC samples are currently collected at the rig with a rotary splitter. Bags of RC cutting splits are tagged and sent to commercial laboratories for further preparation and assaying.

Once at the commercial labs, the samples are crushed to 10 mesh and a 0.55 lbs. (0.25 kg) split is taken and pulverized to 85% passing 200 mesh prior to assay analysis.

8.3 Assay
 Methods

Prior to 1992, most samples were sent to Barringer Laboratories, Inc., in Golden, Colorado. Fire assays ("FA") were routinely performed on cyanide soluble assays for selected intervals.

From 1992 to 1999, samples were processed at the Hycroft laboratory at the mine site.

The Hycroft laboratory assays consisted of Au FA followed by cyanide soluble Au and cyanide soluble Ag on all intervals. The Mine cyanide soluble assay methods are reported to have been non-standard and were developed to provide a prediction of recoverable Au and Ag from heap leaching.

There are no samples in the database from 2000 through 2004. Starting in 2005, all samples were sent out to commercial labs for analysis that are independent of Hycroft. During 2012, there were 10 drillholes that were an exception to this rule and were assayed by the Hycroft lab. Those holes have reportedly been compared with assays from commercial labs and are still maintained in the database.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 57

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The external labs that have been used by Hycroft prior to 2021 are all in the Reno/Sparks, Nevada area and are listed below with their accreditations:

● ALS Minerals ISO9001:2000
 and ISO17025

● American Assay Laboratories ISO/IEC17025, PTP-MAL
 Canada

● Inspectorate ISO9001:2008

● McClelland ISO/IEC17025

During 2021 and 2022, Hycroft utilized the following laboratories in the Reno/Sparks area:

● Bureau
 Veritas Mineral Laboratories USA ISO-9001
 ISO-14001 ISO-45001 OHSAS-18001

● Paragon Geochemical ISO/IEC 17025:2017

During 2023, Hycroft utilized the following laboratories in the Reno/Sparks area:

● Paragon
 Geochemical ISO/IEC
 17025:2017

● ALS Minerals ISO/IEC 17025:2017
 and ISO 9001:2015

During 2024, Hycroft utilized the following laboratories in the Reno/Sparks area:

● ALS Minerals ISO/IEC
 17025:2017 and ISO 9001:2015

● American Assay Laboratories ISO/IEC 17025:2017

All intervals were assayed using conventional FA with Atomic Absorption ("AA") or gravimetric finish for Au. Fire silver assays were not regularly completed by previous project operators. After 2013, aqua regia ("AR") digestion was used for total silver assays and replaced the previous gravimetric treatment of silver. The lower detection limit on the AR method was the reason for the change.

The FA method for gold with an AA finish was the primary assay method at all the labs. Cyanide soluble methods were alternatively hot or cold depending on the lab.

As noted previously, cyanide silver was much more consistently assayed than fire silver. Starting in 2014, total silver was consistently assayed along with fire gold.

Cyanide soluble assays for gold and silver were highly prevalent in the pre-2000 drilling. As drilling began to target the deeper sulfide mineralization after 2005, the cyanide soluble assays were selectively run on the upper, oxidized portion of the deposit and not applied to the deeper sulfide mineralization.

During 2007 and 2008, Hycroft also applied the 35-element inductively coupled plasma ("ICP") analysis to 90% of the assay intervals. That data results in 53,624 sample intervals that can be used to track trace elements.

During 2011, 127 drillholes were selected for ICP and Laboratory Equipment Corporation ("LECO") analysis at American Assay. These holes were generally 500 x 200-foot centers across the estimated sulfide pit target at the time. Most were assayed on 25-foot intervals from top to bottom for total sulfur, sulfide sulfur and carbon. During 2014, additional sample intervals were selected from the 2012 to 2014 drilling for LECO and ICP.

During 2022, analysis for LECO was conducted on site by Hycroft on some drillholes.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 58

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

During 2023, some drillholes were selected for ICP (4-acid digestion) and LECO analysis at ALS Minerals. ICP was analyzed on a sample-by-sample basis while LECO was analyzed on 25-foot composites. Some drillholes were analyzed for LECO on site by Hycroft.

During 2024, all drillholes were sent out for ICP (4-acid digestion) and LECO analysis at ALS Minerals. In addition, a portion of the 2022 and 2023 drillholes were also sent out for ICP and LECO analysis to ALS. ICP was analyzed on a sample-by-sample basis while LECO was analyzed on 25-foot composites.

The sulfide sulfur results from this work have been used to assign sulfide sulfur values to the block model for process metallurgical input. It should be noted that the sulfide sulfur procedures also report elemental sulfur along with the sulfide component.

Assay submittals have included blanks and standards since 2007. Check assays and duplicate assays were submitted in 2012 and 2014. The results of the analysis of those samples will be reported in Section 9.

Assay procedures requested of ALS laboratories Reno and ALS Laboratories in Vancouver include:

● ALS
 Au-AA23 testing:

● FA
 gold with an atomic absorption spectroscopy ("AAS") finish

● FA
 Fusion with AAS finish for Au

● 30
 g nominal sample weight

● 0.005/10
 g/t lower/upper limit

● >10
 g/t over limit testing by gravimetric by Au-GRA21

● ALS
 Au-AA13 testing: cyanide leach capacity

● Cyanide
 leach; AAS finish for Au

● 30
 g nominal sample weight

● 0.03/50
 g/t lower/upper limit

● ALS
 ME-ICP41 testing

● AR
 digestion with an atomic emission spectrometry ("AES") or AAS

● AR
 digestion with AES or AAS finish

● 0.5
 g nominal sample weight

● 0.2/100
 g/t lower/upper limit.

● 100
 g/t over limit testing by AR digestion and AES or AAS finish by Ag-OG46

● 1,500
 g/t over limit gravimetric testing by Ag-GRA21

● 10,000
 g/t overlimit gravimetric testing by Ag-CON01

● ALS
 Ag-AA13 testing: cyanide leach capacity:

● Cyanide
 leach with AAS finish

● 30
 g nominal sample weight 0.03/350 g/t lower/upper limit

● ALS
 ME-MS61m testing: multi-element trace elements:

● Four
 acid digestion with ICP atomic emission mass spectrometry ("MS")

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 59

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

● 0.75
 g nominal sample weight

● 49-element
 suite with automatic ore-grade testing on over-limits

● Over-limits
 were set-up specific to each element

● ALS
 S-GRA06a testing: sulfur speciation for autoclave blending:

● Total
 sulfur by LECO furnace analysis

● HCI
 (15%) leach of sulfates with LECO furnace analysis for sulfide sulfur ("SS"). Sulfide
 values are reported as calculated values

● 1
 g nominal sample weight

● 0.01/50%
 lower/upper limit by weight

● Assay
 procedures requested of American Assay Laboratories ("AAL") Reno:

● AAL
 IO-FAAu30 testing: fire assay ("FA") with an optical emission spectrometry ("OES")
 finish:

● FA
 with an OES finish for Au

● 30
 g nominal sample weight

● 0.003/10
 g/t lower/upper limit

● >
 10 g/t over limit gravimetric testing by G-FA Au

● AAL
 IO-2AAg testing: AR with an optical emission spectrometry (OES) finish:

● AR
 digestion with an OES finish

● 30
 g nominal sample weight

● 0.3/100
 g/t lower/upper limit

● >
 100 g/t over limit AR digestion testing by IO-2AOR-AG1000

● >
 1,000 g/t over limit gravimetric testing by G-FAAg

8.3.1 Sample
 Security

Samples were delivered to the analytical laboratories in numbered bags along with transmittal sheets that list the sample numbers, the total sample count, and codes for sample type (RC or Core). The lab confirmed the receipt of shipment against the transmittal sheets to account for all samples issued.

It is reported that no officers, directors, or associates of Hycroft or their predecessors were operationally involved in the sample collection, preparation, or assay transmittal.

Sample security relies on the samples being in custody of Hycroft personnel or stored in a secure area prior to shipment to ALS. Chain-of-custody procedures consist of unique and independent sample numbers used for each sample with dispatch-submittal sheets and database entries used to track the progress of samples and to ensure that all samples are received by the laboratory.

Unique and independent sample numbers and sample tags are used in all cases. Sample Dispatch and Submittal sheets are used to check and track samples through the system. Sample information is entered into the computer database to track the samples and record results.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 60

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

8.4 Sample
 Storage

Split core and chip trays are stored on site in an enclosed warehouse, Conex containers, or wrapped outside, located near the core shed. Generally, since 2021, the remaining half of split core is retained. However, core from 2021 was mostly consumed for metallurgical purposes, and core prior to 2021 no longer exists.

Sample rejections are retained but stored outside where they degrade after three to four years.

All core boxes, chip trays, and pulps are coded to facilitate easy retrieval when required.

8.5 Analytical
 Results

Following analysis, results are posted to a digital laboratory database for which Hycroft has secure permission privileges. Managers download data where the sample results are cross-referenced to sample numbers. Each drillhole carries a unique self-identifying sample number, simplifying cross-referencing. The completed digital file for each drillhole is emailed to Hycroft by the lab, and a follow-up, hard copy certificate is mailed to Company offices.

Data is checked by geologists visually and loaded into the secure acQuire database. The acQuire database is further checked using electronic methods and then calculated into ounce per ton values and loaded to the modeling database for display and further visual QA/QC checking.

Database security and integrity are accomplished by restricting access and user level permissions that are set by the Database Administrator. Once data entry and validation are completed for a drill hole, access is locked. There are procedures for version control on any updates that may happen over time, so that the database will retain all original information and prioritize use of any updates.

8.6 QP
 Comment

The sample preparation, analysis and security practices are typical for the US mining industry and are acceptable for application to mineral resource determination.

The QP considers that current sampling, sample preparation, analytical methods and security are acceptable, are in line with industry-standard practices, and are adequate for Mineral Resource estimation.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 61

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9 Data Verification

9.1 Verification
 Procedure

This section will address the QA/QC and data verification procedures that were used to confirm that the Hycroft database was acceptable for estimation of mineral resources. Multiple tasks have been completed to verify the data since the completion of the previous Technical Report Summaries of Feb 2022 and Feb 2023.

The data verification steps were as follows:

1. Detailed
 comparison of certificates of assay versus the assay database which resulted in substantial
 update and correction to the database.

2. Analysis
 of the QA/QC data used by Hycroft and previous owners from 2005 to 2024. This work was done
 in three stages representing different time periods.

3. Analysis
 of diamond drilling hole ("DDH") versus RC Drilling with the 2005-2024 drilling
 to confirm that the two methods can be comingled and utilized for the estimation of mineral
 resources.

4. Comparison
 of pre-2005 drilling versus 2005-2024 drilling to verify the application of the older data.
 The pre-2005 data has no QA/QC information that can be used to verify its reliability.

The IMC approach to data verification was to establish the reliability of the Post -2005 drilling based on the available QA/QC data and the comparison between DDH and RC. Once the 2005-2024 data was established as reliable, it was used to check the historic pre-2000 drilling by a nearest neighbor sample comparison.

9.2 Certificate
 of Assay Checks

The team at the Mine site completed an extensive check and verification of the data base with interval-by-interval checks against the available certificates of assay. After completion of that work, IMC completed a spot check of 95 of the drill hole certificates of assay to confirm the edits and corrections completed by Hycroft.

9.3 QA/QC
 2005 – 2024

The 2005 to 2024 drilling data had the following QA/QC information collected:

● Standards.

● Blanks.

● Duplicate
 Assays.

● Check
 Assays from 2011 through 2013 and again in 2024.

That information will be analyzed in three parts to understand the relative reliability of the post-2005 drilling: (1) the data collected from 2005 to 2014, (2) the data collected from 2021 through 2022, and finally (3) the 2023 to 2024 data.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 62

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9.3.1 Standards
 2005-2013

Blind standards are inserted into the assay sample submissions for analysis at the assay lab. The lab obviously knows the sample is a standard, but they do not know which standard.

The early standards database provided to IMC did not include dates of insertion. It is presumed that the insertion of standards started in 2005 with the modern drilling program. However, the earliest example of standard acquisition that IMC could find was mid-2007. There are indications of sample insertion though the 2013-time frame.

In most exploration environments, standards results are reviewed as they arrive from the lab to confirm that the measured result is within the error tolerance reported for the standard. IMC takes a different approach and compares the accepted value of the standard against the multiple assays of the standard on an XY plot to identify any potential bias in the assay process.

Figure 9-1 illustrates the results of the standards submissions for gold for 2005-2013.

The comparison of the accepted value of the standard and the tested standards results does not indicate consistent bias. The points that are scattered off-line reflect swapped samples meaning that the wrong standard was recorded or submitted to the lab compared to the tabular results. There are 22 apparent sample swaps out of 7,154 tested standards or about 0.3% of the original samples.

Figure 9-2 summarizes the results of the total silver standards submissions. There is substantially more variation in the silver standards results as one would expect in this grade range. In addition, most of the original assays are gravimetric finish which have a detection limit of 5 ppm or 0.15 oz/ton. There are only five standards below 0.15 oz/ton out of 6,498 Ag standards analyzed. With some standards values as low as 0.20 oz/ton it would not be out of line to see an indication of subtle bias if the lowest value that can be reported is 0.15 oz/ton.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 63

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-1: Results of Submitted Gold Standards 2005 - 2013**

Source: IMC, 2021

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 64

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-2: Results of Submitted Silver Standards 2005-2013**

![](ex_015.jpg)

Source: IMC, 2021

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 65

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9.3.2 Blanks
 2008 - 2014

Blank samples are inserted periodically to confirm that metal is not carried over from one sample to the subsequent sample in the sample stream. Figure 9-3 summarizes the results of the blank submissions for gold from 2008 to 2014. The figure indicates that the majority of samples reported back as trace or small values.

However occasional samples have been reported near or above heap leach feed grade. Of the 2,260 standards in Figure 9-3, 5.9% reported higher than 0.005 oz/ton and 5.6% reported higher than 0.010 oz/ton. Although these represent small percentages, there is room for improvement.

One expects that some of the samples were not blanks but were mistakenly inserted standards. The statistical average above 0.005 oz/ton is about 0.019 oz/ton, which is quite close to the standard value of the Cove 2 standard.

**Figure 9-3: Results of Blank Submissions**

![](ex_016.jpg)

Source: IMC, 2021

9.3.3 Check
 Assays 2011-2012

Assay pulps were submitted to a second lab as check assays during 2011–2012. The primary lab was ALS, and the check lab was AAL. The results are summarized in Figure 9-4 and Figure 9-5 as XY plots.

The variability in the results is more than one would expect from pulp submissions, but there does not appear to be an observable bias in the laboratory comparisons. The line on the graphs illustrates a 1:1 relationship as a comparison.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 66

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-4: Check Assay Results, Fire Assay Gold 2011 - 2012**

![](ex_017.jpg)

Source: IMC, 2021

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 67

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-5: Check Assay Results, Fire Assay Silver 2011 – 2011**

![](ex_018.jpg)

Source: IMC, 2021

9.3.4 Standards
 2021 – 2022

All recent drilling completed by Hycroft utilizes standards, blanks, and duplicate assays for QA/QC confirmation of the database. Hycroft analyzes the data as it is received to confirm that the results are within appropriate acceptance ranges.

Diamond drilling was the primary method used during 2021, and RC drilling was the primary method during 2022. An analysis of RC to DDH during 2021 and 2022 indicates that both can be used for mineral resource estimation. In addition, two assay laboratories were used in 2021 and 2022. Bureau Veritas, Mineral Laboratories, USA (Sparks, Nevada) and Paragon Geochemical Laboratories, (Sparks, Nevada) were both used to assay Hycroft samples during this period.

Paragon and Bureau Veritas' results have been analyzed separately and both provide similar results. The figures presented for the 2021 through 2022 QA/QC show both laboratories combined as a summary of the overall results. Most of the silver QA/QC was applied to cyanide silver assays. Since those are not used in this estimate, the gold QA/QC information is shown.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 68

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The standards that do not check well amount to about 2.4% of the submitted standards. Those out-of-range results tend to line up with other standards or blank values. This implies swaps in standards submissions or in data recording rather than outright errors in the assay.

Figure 9-6 illustrates the standards results for the 495 submitted gold standards during 2021 and 2022.

**Figure 9-6: Standards Results, 2021 – 2022**

![](ex_019.jpg)

Source: IMC, 2023

9.3.5 Blank
 Analysis Results 2021-2022

Blanks are inserted and analyzed to confirm that there is no sample-to-sample contamination. Figure 9-7 illustrates the results of blank submissions during 2021 – 2022. The results indicate only one value reported with a potentially economic gold grade out of 495 blank submissions.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 69

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-7: Blank Results, 2021 – 2022**

![](ex_020.jpg)

Source: IMC, 2022

9.3.6 Duplicate
 Assays, 2021-2022

Duplicate pulps were assayed to confirm the repeatability of results from the assay lab. During 2021-2022, 314 duplicates were re-assayed. Figure 9-8 summarizes the results of the duplicate checks. There are two results that are higher than expected. Those reflect an error rate of about 0.64%.

**Figure 9-8: Duplicate Assay Results, 2021 – 2022**

![](ex_021.jpg)

Source: IMC, 2023

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 70

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9.3.7 Standards
 2023 – 2024

During 2023 and 2024, 70 drill holes were completed. Of that total, 44 were diamond drilling, the rest were RC drilling. The next few sections address the QA/QC completed by Hycroft during the period of 2023 through 2024.

During this period, 1,501 gold standards were inserted out of 18,893 gold assays, amounting to almost 8% of the assay count. However, only 36 silver standards were inserted during this period and all of those were during 2024. The explanation is that silver standards were inserted if there was observable high-grade silver mineralization. This procedure is inappropriate and should be corrected going forward so that the silver standards insertion rate is 5% of the total assay number.

The average grade of all silver assays during 2024 was 1.46 oz/ton. In the future, as silver values and volumes increase at Hycroft, silver bearing material will receive the same QA/QC diligence as gold.

Figure 9-9 illustrates the comparison of assayed gold values versus the standard value inserted into the assay stream.

**Figure 9-9: Gold Standards 2023 – 2024**

![](ex_022.jpg)

Source: IMC, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 71

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The results of this overview are consistent with previous work where the incorrect standard was inserted, or the wrong standard was recorded. The number of these occurrences is extremely small, and the gold standard results are acceptable for 2023-2024.

The 36 silver standards did not illustrate any bias, but the graph is not shown due to the insignificant number of silver standards.

9.3.8 Blanks
 2023-2024

Figure 9-10 summarizes the results of 1,013 blank insertions during 2023 and 2024 (6%). The results are positive with only one value at 0.045 g/t.

**Figure 9-10: Blank Insertions 2004**

![](ex_023.jpg)

Source: IMC, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 72

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9.3.9 Duplicate
 Assays 2023-2024

Three different types of duplicates samples were applied in 2023. The naming convention and the source of the duplicates is summarized below:

1. FDUP:
 Field duplicate, these were ¼ core for DDH holes and a second split from the rotary
 splitter for RC samples. IMC check procedure is to combine field duplicates with the core
 and RC field duplicates.

2. PDUP:
 Pulp duplicate, a second aliquot from the pulp is inserted into the sample stream to check
 the repeatability of the assay process.

3. CDUP:
 Coarse duplicate, a second split from the coarse rejects is taken during the sample preparation
 process. The coarse duplicate is meant to check on the repeatability of the pulp preparation
 and assaying combined.

The above duplicates were assayed for both gold and silver and compared to the original values of gold and silver to confirm the overall process repeatability (precision). The results of all three duplicate types for both gold and silver produced similar statistical mean and standard deviation results for all tests. All tests comfortably passed the Student's T test illustrating that they represent the same population with a high degree of confidence.

Figure 9-11 and Figure 9-12 illustrate the results for the gold and silver duplicate checks during 2023-2024 respectively.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 73

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-11: Gold Duplicates, 2023-2024**

![](ex_024.jpg)

Source: IMC, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 74

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9- 12: Silver Duplicates, 2023-2024**

![](ex_025.jpg)

Source: IMC, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 75

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9.3.10 Check
 Assays 2023-2024

During 2023 – 2024, 668 sample pulps were sent to an outside laboratory for independent checks on the primary assay lab. The primary lab changed from Paragon to ALS Chemex between 2023 and 2024. However, the check assays were all completed at AAL. The check assay rate is about 3.5% out of the total number of over 18,800 assays during 2023 through 2024.

Basic statistical analysis of the original versus check assays indicate that the check data report the same population as the primary lab with better than 95% confidence. Figure 9-13 and Figure 9-14 illustrate X-Y plots of the original assays versus check assays for 2023-2024.

**Figure 9-13: Gold Check Assays 2023 – 2024**

![](ex_026.jpg)

Source: IMC, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 76

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 9-14: Silver Check Assays, 2023-2024**

![](ex_027.jpg)

Source: IMC, 2025

9.3.11 DDH
 vs RC for Post 2000 Samples

The drillhole database at Hycroft is predominately based on RC drilling with some DDH. Prior to 2000, the database does not provide a record regarding the type of drilling applied, although it was reported to be largely RC.

Since 2000, the database records whether the drilling was RC, DDH, or sonic. All the DDH drilling was completed after 2006. The sonic drilling was applied in stockpiles which are a minor component of the remaining mineral resource.

The RC data was compared to DDH drilling using the nearest neighbor method that was described in the previous sub-section. Table 9-1 summarizes the results of that comparison.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 77

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 9-1: Nearest Neighbor Sample Comparison of RC vs Diamond Core Gold and Silver Assays**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Maximum Separation Distance (ft)** | **Number of Sample Pairs** | **RC Mean**<br>**(oz/ton)** | **DDH Mean**<br> **(oz/ton)** | **Ratio of the Means** | **T-Statistic<sup>1</sup>** |
| **Gold** | **Gold** | **Gold** | **Gold** | **Gold** | **Gold** |
| 10 | 1114 | 0.006 | 0.005 | 0.903 | 0.976 |
| 20 | 3207 | 0.006 | 0.006 | 0.965 | 0.681 |
| **Silver** | **Silver** | **Silver** | **Silver** | **Silver** | **Silver** |
| 10 | 1042 | 0.197 | 0.281 | 1.428 | 0.971 |
| 20 | 3005 | 0.296 | 0.224 | 0.757 | 1.512 |

---

Note:

1. T-Statistics
 is the Smith-Satterthwaite T for large populations

The results indicate that the RC and DDH drilling information provide similar results for the post-2006 drilling and that they can be combined for estimation of mineral resources.

9.3.12 Old
 vs. New Drilling

Early technical Reports regarding Hycroft mineral resources had reported that all gold assays prior to 2000 were factored upward. Those in acid leach alteration were factored upward by 1.32 and all others upward by 1.19 (Hycroft Project Mill Expansion Feasibility Study Technical Report, October 31, 2016, and Technical Report, Allied Nevada Gold Corp, Hycroft Mine, October 2011).

Detailed checks on the certificates of assay indicate that the gold assay information used by Hycroft and provided to IMC for use in this estimation of mineral resources has not been factored in any way and the database matches the original certificate of assay.

A comparison of pre-2000 drilling and gold assay results versus the 2005-2024 gold assay results indicates that the old data averages higher grade than the new data when compared on a nearest neighbor basis. To identify the source of this bias, the pre-2000 data was analyzed on a year-by-year basis against the 2005-2024 drilling assay data. The 2005-2024 data set has been illustrated to be reliable based on the QA/QC analysis reported on previous pages and on the DDH-RC comparisons reported in the previous sub-section.

A nearest neighbor analysis was completed comparing 1999 drilling versus 2005-2024. That was followed by analysis of 1998 versus 2006-2024. This process was completed annually for all years prior to 2000. The results for years 1988 through 1999 were stable and compare acceptably with the 2005-2024 data. However, once 1987 and earlier years were compared against the 2005-2024 data, an obvious high bias was identified in the 1982 to 1987 data.

To summarize the results, the 1982-1987 data is compared to the 2005-2024 data on a nearest sample basis. These results were completed for sample distances as close as 5 ft for assay data.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 78

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 9-2: Nearest Neighbor Sample Comparison of 1982-1987 Gold Assays versus 2005 – 2024 Gold Assays**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Maximum Separation Distance ft** | **Number of Sample**<br> **Pairs** | **1982-1987 Mean**<br> **oz/ton** | **2006-2024 Mean**<br> **oz/ton** | **Ratio of the Means** | **T-Statistic<sup>1</sup>** |
| 5 | 164 | 0.020 | 0.012 | 1.67 | 3.98 |
| 10 | 300 | 0.025 | 0.017 | 1.47 | 4.24 |
| 20 | 803 | 0.020 | 0.011 | 1.82 | 8.41 |
| 30 | 1635 | 0.018 | 0.010 | 1.80 | 10.43 |
| 40 | 2746 | 0.017 | 0.010 | 1.70 | 12.47 |

---

Note:

1. T-Statistics
 is the Smith-Satterthwaite T for large populations

The above data excludes the stockpile drilling and includes all hard rock data that is located within the block model area.

The results of Table 9-2 indicate that the 1982-1987 gold assays are between 1.47 and 1.80 times higher than the 2005-2024 gold assays. The T-Statistic reported on the right side of the table is comfortably above the value of 2.0 for the sample separation distances. If the T-Statistic is greater than 2.0 one should reject that the two data sets are similar.

The above analysis indicates that the 1982-1987 data is biased high and unreliable relative to the more modern 2005-2024 drilling and assaying. The 1982-1987 drilling is reported to be RC drilling completed by an early predecessor of the current Hycroft management. Hycroft and IMC have not found any record regarding the RC sampling methods that were applied during that time that would shed light on the cause or source of this bias.

Half of the 1982 to 1987 database has been mined out. Discussion with retired Hycroft staff has indicated that production reconciliation was difficult during that period. However, the 1982-1987 data set does indicate the presence of mineralization. To capture that mineralization in the potential resource, IMC and Hycroft have completed the following steps:

1. The
 1982-1987 gold data (composites) were multiplied by 0.56 to remove the observed high bias.
 There are no fire silver assays recorded during that period.

2. Block
 gold grades were estimated without the 1982-1987 data and were frozen so that they could
 not be changed.

3. Block
 grade estimation for gold was repeated including the bias corrected 1982-1987 data.

4. If
 a block received a gold grade in this process that was not previously assigned, it was added
 to the model and coded as "inferred" class mineralization.

5. The
 resource floating cone was regenerated with the additional 1982-1987 inferred resource blocks.

In summary, a bias corrected version of the 1982-1987 data was incorporated so that any component of the resource based on that data is coded as "Inferred."

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 79

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

9.3.13 Downhole
 Surveys

The Mine operates on a local mine survey grid that is rotated 15.85 degrees from the Nevada state plane coordinate system. Down-hole survey data from the drill rigs reports directly in true north coordinates, requiring all holes to be rotated into the Hycroft grid.

Hycroft personnel have spent substantial time checking the downhole survey bearings against the original downhole survey logs. The data is stored in both state planes, and the Hycroft grid in the Hycroft system. Hycroft and IMC have confirmed that the down-hole surveys used for mineral resource estimation are in the Mine grid, consistent with the resource model and historic and potentially future mine planning.

9.4 QP
 Comment

The work outlined in this section is a summary of over a year's worth of data verification and checking by Hycroft and IMC personnel. As a result, the Hycroft and IMC teams have gained significant confidence in this data set. IMC holds the opinion that the database as utilized in this statement of mineral resources inclusive of the edits and corrections outlined is appropriate for the estimation of mineral resources. The 1982-1987 data set has been incorporated so that it only contributes to inferred category mineral resource after correction of the high bias of that data.

In the future, IMC recommends that complete QA/QC procedures be applied to silver and sulfide sulfur assaying and sampling. Regular sampling for QA/QC should be applied to those values in the same way as they have been recently applied to gold.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 80

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10 Mineral Processing and Metallurgical Testing

10.1 Introduction

Hycroft has been operating the Mine as an open pit mine with a run-of-mine (ROM) heap leach facility (HLF) treating oxide ores to produce gold and silver since 2008. Prior to that, Vista Gold operated the Mine in a similar manner. As a result, the cumulative performance statistics and metallurgical test data gathered for the direct cyanidation of high-grade ROM oxide ore via heap leach are extensive and are not the focus of this report. The following subsections focus on metallurgical testwork conducted by Hycroft on extraction of Au and Ag from refractory sulfide mineralization.

The metallurgical test programs conducted on the Hycroft sulfide mineral deposits over the years have consisted of comminution, flotation, concentrate oxidation, and cyanide leaching tests on mineralized materials, flotation tailings, and oxidized sulfide concentrate samples. The samples were mostly derived from drill cores. Most of the flotation testwork were conducted at G&T Metallurgical Services (G&T) and SGS Canada Mineral Lakefield (SGS), both located in Canada, as well as by Hazen Research Inc (Hazen) in Colorado. Oxidation testing was primarily conducted by Hazen, SGS and Kappes, Cassiday & Associates (KCA). G&T (ISO – 9001:2008) and SGS (ISO – 17025:2017) both have ISO accreditation. All laboratories are independent of Hycroft.

In general, core samples for metallurgical testing were selected to be representative of the mineralized materials, drawing from five mineralization domains, as they were classified at the time. The primary sources included the Brimstone and Vortex domains.

10.2 Metallurgical
 Testwork

10.2.1 Summary
 of Metallurgical Testwork Programs

Table 10-1 summarizes the metallurgical testwork programs completed to date for the Hycroft sulfide mineralization, including the testing laboratory/location and the primary testwork performed.

**Table 10-1: Metallurgical Testwork Summary Table**

---

| | | |
|:---|:---|:---|
| **Year** | **Laboratory/Location** | **Testwork performed** |
| 2009-2014 | SGS Minerals Services (Lakefield, Canada) | Flotation testwork |
| 2011 | Kappes, Cassiday & Associates (Reno, USA) | Flotation, batch and locked-cycle testing |
| 2011 | G&T Metallurgical Services Ltd. (Kamloops, Canada) | Flotation testing |
| 2011-2016 | Hazen Research, Inc. (USA) | Flotation variability testing; concentrate oxidation tests |
| 2013 | SGS Minerals Services (Lakefield Canada and South Africa) | BIOX testing |
| 2014 | Hazen Research, Inc (USA) | Pilot plant flotation testing |
| 2021-2025 | FLSmidth Minerals Testing (Salt Lake City, USA) | Flotation variability testing |
| 2024-2025 | Hazen Research, Inc (USA) | Concentrate oxidation testing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 81

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.2.2 Mineralized
 Materials and Sampling

Hycroft mineralized materials are classified as oxide, transition, or sulfide based on the cyanide solubility of its gold, which is used as an indicator of refractoriness. Materials with cyanide soluble gold of 70% or greater are classified as oxide, while material with cyanide soluble gold of less than 30% is classified as sulfide. Material with a cyanide soluble ratio between 30% and 70% is classified as transition. The classification has been shown to have no strong correlation with sulfide sulfur content.

10.2.3 Hycroft
 Mineralization Domains

The Hycroft mineral deposit consists of five process domains, namely Bay, Boneyard, Brimstone, Central, and Vortex.

Table 10-2 is a summary of the data for average total sulfur, sulfide sulfur, and the ratio of sulfide sulfur to total sulfur from 95 oxide, 158 transition, and 417 sulfide samples collected from the Brimstone, Central, and Vortex domains. It shows that the classification of mineralized material as oxide, transition, or sulfide is essentially a measure of refractoriness and shows little correlation with sulfide-sulfur content of the minerals. The sulfide-sulfur to total sulfur ratio averages slightly over 80% across the entire dataset, indicating that degree of sulfur oxidation is similar among oxide, transition, and sulfide classifications.

**Table 10-2: Average Sulfur Contents of Oxide, Transition and Sulfide Mineralized Materials**

---

| | | | |
|:---|:---|:---|:---|
| **Total S (ST), %** | **Oxide** | **Transition** | **Sulfide** |
| Brimstone | 2.55 | 2.41 | 2.25 |
| Central | 2.94 | 2.82 | 2.48 |
| Vortex | 2.47 | 2.66 | 2.33 |
| Unclassified | 4.28 | 2.92 | 2.61 |
| All | 3.00 | 2.74 | 2.43 |
| **Sulfide S (S=), %** | **Oxide** | **Transition** | **Sulfide** |
| Brimstone | 2.19 | 2.06 | 1.87 |
| Central | 2.36 | 2.26 | 1.80 |
| Vortex | 2.09 | 2.23 | 1.91 |
| Unclassified | 3.29 | 2.23 | 2.09 |
| All | 2.45 | 2.23 | 1.93 |
| **S=:ST Ratio** | **Oxide** | **Transition** | **Sulfide** |
| Brimstone | 0.839 | 0.839 | 0.820 |
| Central | 0.810 | 0.806 | 0.797 |
| Vortex | 0.880 | 0.827 | 0.833 |
| Unclassified | 0.840 | 0.823 | 0.843 |
| All | 0.849 | 0.819 | 0.824 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 82

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3 Legacy
 Testwork

Table 10-3 below lists the number of samples selected to span the three main domains and their distribution within the mineral deposit.

Information on the individual core samples selected for testing can be found in the metallurgical test reports referenced in this study.

**Table 10-3: Summary of Test Samples**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Tests** | **Number of Samples per Domain** | **Number of Samples per Domain** | **Number of Samples per Domain** | **Number of Samples per Domain** |
| **Tests** | **Central** | **Brimstone** | **Vortex** | **Composite** |
| Crushing (CWi) | 1 | 1 | 5 | 7 |
| Axb (Drop Wt & SMC) | 13 | 6 | 9 | 32 |
| Bond BWi | 24 | 6 | 16 | 58 |
| Bond RWi | 2 | 1 | 0 | 5 |
| Bond Abrasion | 3 | 1 | 5 | 12 |
| Flotation | 11 | 13 | 24 | 48 |

---

10.3.1 Comminution
 Tests

The Hycroft mineralized material has been extensively characterized for its comminution properties in previous studies. Comminution tests were conducted at the laboratories of SGS, G&T, Hazen, and Phillips, and included crushing and grinding work indices, JKSimMet parameters, and abrasion indices.

A summary of the 80<sup>th</sup>-percentile comminution test results is presented in Table 10-4 below. For the Axb parameter, material competence increases as Axb decreases, therefore, the 80th-percentile in material competence corresponds to the 20<sup>th</sup>-percentile of Axb value. The results indicate that the Hycroft mineralized material is very competent.

**Table 10-4: Grindability Test Summary**

---

| | | |
|:---|:---|:---|
| **Parameter** | **Unit** | **Value** |
| CWi | kWh/ton | 18.6 |
| RWi | kWh/ton | 21.2 |
| BWi | kWh/ton | 20.1 |
| Axb | unitless | 34.2 |
| SPI (min) | min | 102.4 |
| Ai (g) | g | 0.623 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 83

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3.2 Flotation

Refractory gold in Hycroft's sulfide mineralized materials is believed to be associated with iron sulfides, primarily pyrite and marcasite. The objectives of the flotation testwork were to evaluate the floatability of the sulfide minerals and the recovery of gold and silver into a sulfide concentrate. Recovering gold and silver into a sulfide concentrate reduces the volume of material requiring downstream processing.

Initial flotation testwork was performed by SGS in March 2009 and continued at several laboratories through April 2014. Over this period, the testing program progressed from bench-scale flotation tests to pilot plant flotation testing conducted at G&T and Hazen.

10.3.2.1 SGS
 Minerals Services (Lakefield) – March 2009

Six drums containing samples representative of the Hycroft Project were shipped to SGS Minerals Services (Lakefield) on September 5, 2008.

The initial flotation test development program consisted of three bench-scale rougher kinetics tests to evaluate the effect of primary grind size on flotation response. A standard bulk sulfide collectors suite, comprising potassium amyl xanthate (PAX) and dithiophosphate (Cytec AF 208), was used in conjunction with Dowfroth 250 as the frother. An additional five bench-scale tests were conducted to investigate alternative reagent schemes and grind sizes.

Flotation testwork was conducted on the Master Composite sample. The flotation investigation consisted of the following:

● Two-stage
 cleaner flotation applying the flowsheet developed during phase 1 testing (program 12012-001).

● Cyanide
 leaching of the second cleaner flotation concentrate.

● Cyanide
 leaching of the recombined rougher and first cleaner scavenger tailings.

SGS stated "In terms of sulfide flotation, it appears that beyond about 10% mass pull, recoveries were on the same grade vs. recovery curve regardless of grind fineness."

10.3.2.2 SGS
 Minerals Services (Lakefield) – Nov 2010

Batch tests were completed on 33 sulfide zone composites representing the Vortex (18), Cut 5 (4), Bay Area (10), and Bone Yard (1) deposits of the Mine sulfide resource. Multiple rock types were represented in the composites. The testwork evaluated metallurgical variability in response to the flotation (and cyanidation) flowsheet previously developed for the Master Composite under program 12012-001.

Metallurgical variability testing consisted of rougher flotation followed by concentrate regrinding and two-stage cleaning. In the initial set of tests, the second cleaner concentrate was cyanide leached. Based on review of those results, cyanide leaching was subsequently refocused on the combined rougher and first cleaner scavenger tailings.

From these tests, gold recovery in rougher flotation ranged from ~62% at a mass pull of ~15% (Test F-2, P80 of ~103 μm) to ~69% at a mass pull of ~17% (Test F-1, P80 of ~128 μm). At comparable mass pulls, silver recovery ranged from 74% (Test F-2) to 85% (Test F-1). The addition of a dithiophosphate collector (Cytec A208) in Test F-5 further improved Au recoveries to 80.1% at a mass pull of 14.6%.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 84

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3.2.3 KCA
 Batch Tests – Jan 2011

In December 2010, KCA received material from the Hycroft project at its laboratory facility in Reno, Nevada. Portions of the received material were composited, as directed, to generate six composite samples for metallurgical testing. Initial testwork was conducted by KCA and reported in the study titled "PAX, pH, and Grind Flotation Kinetics Study" (January 2011). Additional flotation testing was subsequently completed, including cyanide leach testing of flotation products.

10.3.2.4 KCA
 Locked-cycle Tests – May 2011

Portions of the six composites were combined to generate two master composites, a Sulfide Master Composite and a Mixed Master Composite. Additional flotation testing was conducted using material from these composites, including cyanide leach testing of the flotation tailings.

10.3.2.5 G&T
 Metallurgical Services Ltd. – Feb 2011

Five separate shipments of samples were received at G&T Metallurgical Services Ltd between August 31 and December 3, 2010. The samples consisted of half HQ drill core, with a total estimated mass of approximately 2.9 tons. These samples were used to construct thirty-nine composite samples for flotation and cyanidation testing.

For the first set of twenty-four composites, a single stage batch cleaner flotation test was performed. For the second set of samples (M1 to M17), a simplified flotation flowsheet was applied, using a reduced reagent scheme consisting of PAX and MIBC only. Under this simplified flowsheet, the flotation froth was more stable and more representative of a typical sulfide flotation froth compared to the original flowsheet. Overall, the samples responded well to flotation. Across all thirty-nine composite samples, average flotation recoveries to the rougher concentrate were about 78% for Au and 67% for Ag.

Using this revised flowsheet applied to samples M1 to M17, average rougher recoveries were 78% for Au and 83% for Ag. These recoveries generally correlated with sulfide sulfur recovery to the rougher concentrate. Table 10-5 and Table 10-6 show the results of this testwork.

**Table 10-5: G&T Composites 1 through 24 Flotation Test Results**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **ST**<br> **(%)** | **S=**<br> **(%)** | **Au (oz/ton)** | **Ag (oz/ton)** | **Rougher Conc Mass Pull, (%)** | **Au Recovery to conc, (%)** | **Ag Recovery to conc, (%)** | **Type** |
| G&T Composite 1 | 0.70 | 0.62 | 0.009 | 3.968 | 13.3 | 80.1 | 77.3 | Sulfide |
| G&T Composite 2 | 2.48 | 2.49 | 0.145 | 11.136 | 13.2 | 79.6 | 63.2 | Transition |
| G&T Composite 3 | 2.29 | 2.28 | 0.076 | 11.872 | 12.2 | 82.7 | 61.9 | Transition |
| G&T Composite 4 | 1.25 | 1.22 | 0.008 | 18.016 | 9.1 | 60.4 | 27.7 | Sulfide |
| G&T Composite 5 | 1.50 | 1.40 | 0.045 | 0.496 | 12.9 | 83.1 | 83.6 | Sulfide |
| G&T Composite 6 | 1.64 | 1.51 | 0.027 | 23.136 | 15.0 | 88.3 | 72.6 | Sulfide |
| G&T Composite 7 | 1.36 | 1.29 | 0.010 | 9.504 | 15.7 | 94.5 | 37.8 | Sulfide |
| G&T Composite 8 | 1.33 | 1.26 | 0.027 | 4.000 | 13.1 | 89.4 | 50.5 | Sulfide |
| G&T Composite 9 | 4.30 | 3.81 | 0.021 | 0.602 | 16.5 | 86.5 | 88.5 | Sulfide |
| G&T Composite 10 | 2.23 | 2.04 | 0.014 | 1.946 | 11.6 | 80.5 | 60.1 | Sulfide |
| G&T Composite 11 | 2.80 | 2.72 | 0.027 | 8.064 | 17.8 | 88.1 | 53.9 | Transition |
| G&T Composite 12 | 1.57 | 1.25 | 0.113 | 1.680 | 8.3 | 73.6 | 44.8 | Oxide |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 85

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **ST**<br> **(%)** | **S=**<br> **(%)** | **Au (oz/ton)** | **Ag (oz/ton)** | **Rougher Conc Mass Pull, (%)** | **Au Recovery to conc, (%)** | **Ag Recovery to conc, (%)** | **Type** |
| G&T Composite 13 | 2.32 | 2.02 | 0.065 | 1.472 | 11.6 | 56.1 | 68.2 | Transition |
| G&T Composite 14 | 2.08 | 1.34 | 0.004 | 1.818 | 7.8 | 89.5 | 30.2 | Sulfide |
| G&T Composite 15 | 1.78 | 1.71 | 0.043 | 5.376 | 10.8 | 94 | 63.2 | Transition |
| G&T Composite 16 | 2.64 | 2.27 | 0.022 | 0.627 | 14.9 | 77.2 | 76.9 | Sulfide |
| G&T Composite 17 | 0.45 | 0.34 | 0.093 | 0.198 | 5.2 | 28.1 | 27.5 | Oxide |
| G&T Composite 18 | 1.33 | 1.08 | 0.014 | 0.074 | 11.8 | 58.7 | 61.2 | Sulfide |
| G&T Composite 19 | 2.00 | 1.76 | 0.012 | 0.266 | 15.7 | 69.9 | 50.3 | Sulfide |
| G&T Composite 20 | 13.70 | 11.80 | 0.045 | 0.992 | 31.2 | 93.7 | 87.1 | Sulfide |
| G&T Composite 21 | 2.06 | 1.97 | 0.019 | 0.598 | 13.1 | 85.6 | 74.9 | Sulfide |
| G&T Composite 22 | 1.73 | 1.70 | 0.025 | 0.464 | 13.1 | 61.2 | 60.7 | Sulfide |
| G&T Composite 23 | 1.72 | 1.31 | 0.016 | 2.099 | 11.1 | 87.5 | 53.7 | Sulfide |
| G&T Composite 24 | 2.00 | 1.92 | 0.024 | 3.584 | 15.5 | 85.4 | 38.9 | Sulfide |
| Average Sulfides | 2.56 | 2.25 | 0.020 | 4.246 | 14.2 | 80.7 | 60.7 |  |
| Average All | 2.39 | 2.13 | 0.037 | 4.666 | 13.4 | 78.1 | 58.9 |  |

---

**Table 10-6: G&T Composites M-1 through M-17 Flotation Test Results**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **ST**<br> **(%)** | **S=**<br> **(%)** | **Au (oz/ton)** | **Ag (oz/ton)** | **Rougher Conc Mass Pull, (%)** | **Au Recovery to conc, (%)** | **Ag Recovery to conc, (%)** | **Type** |
| G&T Composite M-1 | 1.98 | 1.81 | 0.038 | 0.378 | 13.4 | 86.4 | 82.4 | Sulfide |
| G&T Composite M-2 | 2.62 | 1.75 | 0.013 | 1.082 | 14.2 | 82.1 | 85.9 | Sulfide |
| G&T Composite M-3 | 1.20 | 1.12 | 0.014 | 0.272 | 12.7 | 73.6 | 83.2 | Sulfide |
| G&T Composite M-4 | 1.62 | 1.55 | 0.020 | 0.150 | 18.1 | 79.7 | 76.8 | Sulfide |
| G&T Composite M-5 | 1.81 | 1.70 | 0.013 | 0.128 | 18.8 | 76.9 | 72.7 | Sulfide |
| G&T Composite M-6 | 1.92 | 1.79 | 0.016 | 0.253 | 20.8 | 79.1 | 76.4 | Sulfide |
| G&T Composite M-7 | No Data | - | - | - | - | - | - | - |
| G&T Composite M-8 | No Data | - | - | - | - | - | - | - |
| G&T Composite M-9 | 2.25 | 2.06 | 0.011 | 0.586 | 10.9 | 89.7 | 92.7 | Sulfide |
| G&T Composite M-10 | 2.50 | 2.00 | 0.012 | 2.454 | 11.6 | 76.7 | 96 | Sulfide |
| G&T Composite M-11 | 1.55 | 1.49 | 0.016 | 1.475 | 8.3 | 80.4 | 96.4 | Sulfide |
| G&T Composite M-12 | 1.86 | 1.30 | 0.016 | 3.840 | 10.4 | 80.4 | 97.3 | Sulfide |
| G&T Composite M-13 | 6.34 | 2.99 | 0.046 | 1.043 | 13 | 85.7 | 86.8 | Sulfide |
| G&T Composite M-14 | 5.53 | 2.32 | 0.020 | 0.288 | 16 | 88.2 | 84.1 | Transition |
| G&T Composite M-15 | 2.32 | 1.15 | 0.024 | 1.584 | 7 | 44.9 | 61.3 | Oxide |
| G&T Composite M-16 | 2.51 | 2.43 | 0.017 | 0.486 | 14.3 | 74.6 | 87.8 | Transition |
| G&T Composite M-17 | 1.52 | 1.39 | 0.017 | 0.259 | 16.1 | 65.1 | 62.8 | Sulfide |
| Average Sulfides | 2.26 | 1.75 | 0.019 | 0.993 | 14 | 79.7 | 84.1 |  |
| Average All | 2.50 | 1.79 | 0.020 | 0.943 | 13.7 | 77.6 | 82.8 |  |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 86

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3.2.6 Hazen
 Research, Inc. – August 2011

For this investigation, 38 drillhole composite samples representing five mineralized material types were evaluated. Initial flotation testing was conducted using sodium hydrosulfide (NaHS) and copper sulfate (CuSO<sub>4</sub>). In subsequent tests, the NaHS and CuSO<sub>4</sub> were eliminated, and lead nitrate (Pb(NO<sub>3</sub>)<sub>2</sub>) was introduced as a modifying agent. Following the addition of modifying agents, flotation pH ranged from neutral to 10.5, and redox potential was monitored throughout the testing program.

A series of 91 small-scale flotation tests were performed on 4.4-lbs splits from the 38 composite samples. The objective of this testwork was to evaluate variability in flotation response among the composite samples.

An additional 41 small-scale flotation tests were subsequently performed on Composites 1 through 38, excluding Composites 6, 8, 9, and 10, using rougher flotations conditions based on G&T Metallurgical conditions and conditions recommended by Hazen. Rougher concentrate mass pulls ranged from 4.9% to 30.7%, with corresponding Au recoveries ranging from 26.9% to 97.6% and Ag recoveries ranging from 17.1% to 98.7%.

The rougher concentrate assays ranged from 0.032 oz/ton Au (Test 3346-82) to 1.536 oz/ton Au (Test 3346-40), and from 0.224 oz/ton Ag (Test 3346-82) to 73.601 oz/ton Ag (Test 3346-68). The recoveries of Au and Ag to the rougher concentrates ranged from 27% (Test 3346-52) to 91% (Test 3346-68) and from 17% (Test 3346-52) to 99% (Test 3346-68), respectively.

10.3.2.7 Effect
 of Grind Size on Flotation Performance

Most flotation tests on Hycroft samples were performed on materials ground to 80% passing 100 µm. Additional tests were conducted at both finer and coarser grind sizes. Overall, the results indicate that flotation achieves favorable recoveries at grinds ranging from 100 to 150 µm. Gold and silver recoveries generally decreased with grind sizes finer than 100 µm or coarser than 150 µm.

10.3.2.8 Reagent
 Suite

Both G&T and Hazen concluded that flotation tests using NaHS as a sulfurizing agent, as well as tests conducted at alkaline pH, generally resulted in poor flotation performance.

The exploratory and variability flotation test results discussed above demonstrate that sulfide mineralized materials can be floated to recover gold and silver. The reagents schemes employed relied on strong, non-selective sulfide collectors, with frothing achieved using methyl isobutyl carbinol (MIBC), Dowfroth 250 (DF250), or a combination of both. Table 10-7 summarizes the reagent schemes applied by G&T, SGS, and Hazen. In all laboratory test programs, the reagent dosages were relatively high.

**Table 10-7: Flotation Reagent Schemes Studied**

---

| | | | |
|:---|:---|:---|:---|
| **Reagent (lb/ton)** | **G&T** | **Laboratory Hazen** | **SGS** |
| NaHS | - | 0, 2.56 | 2.1 |
| PAX | 0.552 | 0.546, 0.416 | 0.21 |
| 3418A | - | 0, 0.064 - 0.124 | 0.055 |
| MIBC | 0.05 - 0.128, 0.192 | 0.02 - 0.064 | - |
| DF250 | - | 0.02 - 0.064 | 0.095 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 87

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Based on the test results from the three laboratories, particularly G&T, the simplified reagent scheme can be further developed. Several tests indicate that Cytec's AEROPHINE® 3418A Promoter (sodium diisobutyldithiophosphinate) may improve Au and Ag recoveries.

10.3.2.9 Flotation
 Time

Flotation kinetics were not systematically evaluated during the flotation test programs. However, flotation data generated from the G&T testwork on the M Composites included recoveries from froth collected at 4, 8, 12, and 16 minutes. A total of 15 rougher flotation tests were performed. Kinetics plots for Au and Ag derived from this work are shown in Figure 10-1. To avoid visual clutter, only selected data points are shown, along with asymptotic recovery curves fitted to the data.

For each of the 15 datasets, the maximum recovery, Rmax and the kinetics constant, K were derived from the fitted asymptotic curves.

The results indicate that the average laboratory flotation time required to achieve 95% of the maximum recovery is 19 minutes for gold and 17 minutes for silver.

**Figure 10-1: Recovery Vs. Time Plot, G&T Kamloops Tests, M Composites**

---

| | |
|:---|:---|
| ![](ex_028.jpg) | ![](ex_029.jpg) |

---

Source: M3, 2016

10.3.2.10 FLSmidth
 2021

In 2021, Hycroft initiated a new metallurgical variability study to evaluate mineralized material characteristics within the current mine plan validate the metallurgical behavior of material across the mine site; and identify potential variations in processing conditions required to recover gold and silver. The objective of the study was to support development of a robust Hycroft process flowsheet, including definition of key process control points in crushing, grinding, capable of consistently achieving gold and silver recovery across anticipated metallurgical variability. Hycroft selected 243 Samples from 65 different drill holes, all within the current resource, representing the three primary metallurgical domains – Brimstone, Vortex, and Camel. The drill holes encompassed material ranging from near surface elevations to approximately 1,235 ft below current elevations (3,040 ft above mean sea level). Two primary lithologies were represented, corresponding to material located east and west of the Central Fault. The sample suite covered a broad range of alteration and mineralization characteristics, including four silicification intensities - Strong quartz-K-feldspar, strong quartz, moderate, and weak; two alunite styles based on vein width and frequency (used to estimate volume percent and validated by sulfide sulfur content; and gold grades ranging from slightly below the cutoff grade of 0.2 g/t to values exceeding above 2.0 g/t. oxide and transition ore types were not included in this study; it is envisioned that in the future, these materials will be processed in the heap leach pads. Figure 10-2 to Figure 10-5 present the head grade distribution plots for gold, silver, total sulfur, and sulfide sulfur, based on the full set of 243 variability study samples.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 88

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Figure 10-2 to Figure 10-5 present the head grade distribution plots for gold, silver, total sulfur, and sulfide sulfur, based on the full set of 243 variability study samples.

**Figure 10-2: Gold Grade Distribution Chart**

![](ex_030.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 89

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 10- 3: Silver Grade Distribution Chart**

![](ex_031.jpg)

Source: Hycroft, 2025

**Figure 10-4: Total Sulfur Grade Distribution**

![](ex_032.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 90

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 10-5: Sulfide Sulfur Grade Distribution**

![](ex_034.jpg)

Source: Hycroft, 2025

The head grade distributions for gold, silver, total sulfur, and sulfide sulfur across the 243 variability study samples indicate a broad but well-represented range of metallurgical conditions within the current resource. Gold head grades exhibit a right-skewed distribution with an average of approximately 0.56 g/t and a standard deviation of 0.64 g/t, reflecting the inclusion of material spanning from near cutoff grades to higher-grade mineralization. Silver grades show a wider distribution, with an average of approximately 12.4 g/t and a higher standard deviation (14.3 g/t), indicating greater variability in silver tenor relative to gold.

Total sulfur and sulfide sulfur distributions demonstrate moderate variability, with average grades of approximately 2.60% total sulfur and 2.17% sulfide sulfur, and standard deviations of 2.00% and 1.64%, respectively. The close correspondence between total sulfur and sulfide sulfur indicates that sulfur is predominantly present as sulfide minerals, consistent with the refractory nature of the ore. Collectively, these distributions confirm that the variability study sample set adequately captures the range of grade and mineralogical conditions expected within the mine plan, providing a sound basis for evaluating metallurgical response and defining robust process design criteria.

Important results of this study included the development of the flotation process with significantly improved recoveries. There were four key process controls parameters identified during the flotation process development program.

1. Optimal
 grind size is a P80 of less than 85 µm.

2. Flotation
 time is 24 minutes.

3. Adjusted
 pH level is 4.7.

4. Mass
 Pull is 20% to 25% with 22% being the target.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 91

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

A total of 137 samples were tested under these selected conditions to achieve higher gold and silver recoveries. Figure 10-6 summarizes the distribution of gold and silver flotation recoveries achieved under the selected key process control conditions, based on 137 variability test samples. The results show that gold recovery exhibits a broader distribution, with values ranging from approximately 72% to 98% and a statistical median near 88%, indicating greater sensitivity to operating conditions. In contrast, silver recovery is generally higher and more consistent, with recoveries spanning approximately 76% to 100% and a statistical median exceeding 92%. Overall, the figures highlight the comparatively more robust flotation response of silver relative to gold under the selected operating conditions.

**Figure 10-6: FLS Variability Flotation Recoveries under Optimal Conditions (137 Test Samples)**

![](ex_035.jpg)

Source: Hycroft, 2025

Figure 10-7 and Figure 10-8 show that flotation recovery is only weakly correlated with head grade for both metals. Gold recoveries display greater variability within grade groups, particularly at lower head grades, indicating sensitivity to mineralogical and metallurgical factors beyond grade alone. In contrast, silver recoveries are consistently higher and more uniform across head grade groups, demonstrating a more robust and less grade-dependent flotation response.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 92

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 10-7: FLS Variability Flotation Gold Recoveries Based on Gold Head Grade Groups**

![](ex_036.jpg)

Source: Hycroft, 2025

**Figure 10-8: FLS Variability Flotation Silver Recoveries Based on Head Grade Groups**

![](ex_037.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 93

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3.3 Direct
 Cyanidation

Direct cyanidation testwork on bulk concentrate samples (P80 = 325 mesh, or 44 µm) collected from all zones of the deposit was conducted in early 2010. The results indicated generally poor metallurgical performance. Gold recoveries for the Brimstone and Vortex samples were in the mid-20% range, with silver recoveries of approximately 80%. The remaining samples yielded gold recoveries ranging from 45% to 50% and silver recoveries ranging from 55% to 83%.

A useful indicator of direct cyanidation amenability is the ratio of cyanide soluble metal to total metal assay, expressed as AuCN/AuFA for gold and AgCN/AgFA for silver. These ratios have been determined for many exploration samples and have been included in the resource database. The cyanide soluble gold ratio has been applied during resource estimation to assist in mineral classification and routing, with mineralized domains exhibiting higher cyanide soluble gold preferentially directed to heap leach processing.

10.3.4 Concentrate
 Oxidation Tests

Oxidation testwork on Hycroft flotation concentrates evaluated POX, roasting, atmospheric oxidation, and other oxidation methods, all of which demonstrated technical viability with varying recoveries. The results of these tests are summarized below.

Beginning in 2007, Hycroft investigated milling and flotation of refractory sulfide mineralized material followed by oxide treatment, focusing primarily on POX, and roasting technologies commonly applied in the gold industry.

In 2012, additional testwork assessed alternative, low capital oxidation methods, including chlorination, atmospheric alkaline oxidation, and fine grinding with intensive cyanidation. These tests showed that the Hycroft rougher concentrates were amenable to oxidation under atmospheric conditions, leading to pilot scale testing on three main metallurgical domains at Hazen Research Inc.

In 2016, Hycroft developed an oxidation demonstration plant at the mine site to process flotation concentrates and produce doré onsite. Based on historical and current oxide heap leach performance, combined with oxide heap leach metallurgical testwork and bench-, pilot-, and demonstration-scale metallurgical test results, individual gold and silver recoveries for each processing stream were calculated and are presented in Table 10-8. This recovery assumption formed the basis of the 2016 NI 43-101 Feasibility Study Technical Report published in 2016 (Ibrado, A. et al, 2016).

**Table 10-8: Estimated Metallurgical Recoveries from 2016 Feasibility Study – Gold and Silver**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Gold** | **Gold** | **Gold** | **Silver** | **Silver** | **Silver** |
| | **Contained koz** | **Recovered koz** | **Recovery (%)** | **Contained koz** | **Recovered koz** | **Recovery (%)** |
| Heap Leach | 3875 | 1933 | 49.9 | 21242 | 21242 | 15.5 |
| Mill-AAO Sulfide | 7797 | 5696 | 73.0 | 287693 | 287693 | 81.6 |
| **Total** | **11672** | **7629** | **65.4** | **489447** | **308935** | **63.1** |

---

10.3.4.1 Atmospheric
 Oxidation – Batch Tests

From 2013 through 2016, metallurgical testing focused on developing a process to oxidize sulfide flotation concentrates under atmospheric conditions. The process concept involved oxidation in an agitated slurry at elevated temperatures, using oxygen as the oxidant. Batch oxidation tests were conducted at Hazen under various conditions on concentrates derived from Central, Brimstone, and Vortex composites.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 94

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The results demonstrated that complete oxidation is not required to achieve high precious metal recoveries during subsequent cyanide leaching, consistent with earlier oxidation studies. Cyanidation recoveries of approximately 85% for gold and 92% for silver were achieved when about 60% of the sulfide-sulfur content in the concentrate was oxidized.

Oxidation reaction kinetics improved with increasing temperatures up to 75°C. Tests conducted at higher temperatures (around 90°C) resulted in slower oxidation rates, due to reduced oxygen solubility under bench-scale laboratory conditions.

10.3.4.2 Pilot
 Plant Oxidation Tests

Continuous pilot testing was conducted at Hazen using 10-liter reactors on concentrates from three metallurgical domains. The pilot results confirmed the batch test findings. Testing was performed at 75°C a grind size of 25 µm, 20% solids, and a total residence time of 48 hours. Oxidation rates varied by material type, with Vortex oxidizing most rapidly, followed by Central and then Brimstone. The Master Composite exhibited oxidation behavior comparable to Brimstone.

Key outcomes from the pilot testing include:

● gold
 recovery versus sulfide oxidation was higher than indicated by bench-scale testing

● approximately
 80% gold recovery was achieved at 50% sulfide oxidation for all material types

● approximately
 87% gold recovery was achieved at 60% sulfide oxidation for all material types.

10.3.4.3 Hycroft
 Mill Demonstration Plant

Hycroft Mining constructed and operated a demonstration plant with a nominal capacity of 10 tons/d at the Mine site. The integrated flowsheet comprised of a ball mill, rougher flotation bank, concentrate and tailings thickeners, a regrind mill, oxidation and neutralization tanks, an oxidized concentrate thickener, cyanide leach tanks, CCD thickeners, and a Merrill-Crowe precipitation circuit. The plant was operated continuously, with concentrate surge capacity upstream of oxidation and pregnant solution storage upstream of Merrill-Crowe.

The demonstration plant processed Central and Brimstone materials mined from exposed mineralization at the surface of the current open pit.

Key demonstration plant results for Central material are presented in Figure 10-9. For clarity, only data from Tank 1 (TK1) and Tank 5 (TK5) are shown. Sulfide oxidation levels of 60% or greater were consistently achieved when steady-state operating conditions were maintained.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 95

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 10-9: Oxidation of Central Flotation Concentrate: Sulfate Spike Test**

![](ex_038.jpg)

Source: M3, 2019

Oxidation of the flotation concentrates resulted in a significant improvement in gold and silver recoveries compared to direct cyanidation. Cyanide leach recoveries of oxidized concentrates during demonstration plant operation are presented in Figure 10-10. The graph initially reflected Central concentrate processing and transition to Brimstone concentrates on June 11, 2016. Gold and silver recoveries for Central concentrate peaked at approximately 85%. For Brimstone concentrate, gold recovery reached approximately 80%, while silver recovery peaked at 90%. Overall recovery trends closely tracked the degree of concentrate oxidation.

**Figure 10-10: Demonstration Plant Cyanide Leach Recovery of Au and Ag**

![](ex_039.jpg)

Source: M3, 2019

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 96

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3.4.4 Pressure
 Oxidation

Previous POX testwork was conducted primarily by Hazen and SGS on various flotation concentrates derived from Hycroft sulfide mineralized material, including individual samples, composites samples, and two transition material samples. POX testwork was performed under both alkaline and acidic conditions.

The following is a list of all POX testwork reports provided to Ausenco:

● Hazen
 Project 11232 Report and Appendices A-F, POX-CIL Evaluation of Hycroft Flotation Concentrates.

● Hazen
 Project 11243-01 Report and Appendix, Evaluation of Hycroft Blend Flotation Concentrate.

● Hazen
 Project 11307 Report and Appendix, Evaluation of Kappes, Cassiday & Associates Flotation
 Concentrate.

● SGS
 Project 13224-001/003 Final Report, An Investigation into Oxidative Pre-treatment of Hycroft
 Flotation Concentrates.

● SGS
 Hycroft Project – 12012-001 Report 3, The Recovery of Au and Ag from Hycroft Project
 Sulfide Samples, Allied Nevada Gold Corporation.

● Kappes,
 Cassidy & Associates Project No. 189 C, Hycroft Pressure Oxidation and Leach Testwork.

Previous acid POX testwork was conducted on flotation concentrates to establish suitable operating criteria. Table 10-9 summarizes the acid POX test results completed by Hazen, SGS and KCA.

The results indicate that the highest gold and silver cyanide amenability was achieved at (1) operating temperature between 374 °F to 437 °F, (2) an oxygen overpressure of approximately 100 psi, and (3) a residence time of 60 minutes. The POX test results also suggest that the concentrates may be prone to jarosites formation, which can inhibit silver recovery. Evidence for potential jarosite formation includes:

● the
 acidic autoclave discharge pulp exhibited a yellow coloration, transitioning to reddish brown
 following lime boil conditioning

● silver
 recovery was higher when the pulp was subjected to a lime boil, which exposed the hot pulp
 to alkaline conditions for several hours.

**Table 10-9: Hycroft Alkaline POX Testwork Summary**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Flotation Concentrates Samples** | **Sulfide (Stotal) (wt%)** | **Gold**<br>**(ppm)** | **Silver**<br>**(ppm)** | **AC Temp**<br>**(°F)** | **Solids**<br>**(wt%)** | **AC Retention Time**<br>**(min)** | **Oxygen Over-pressure**<br>**(Psig)** | **Caustic Consumption**<br>**(lbs/ton)** | **Cyanide Conc. (wt%)** | **Gold recovery <br> (%)** | **Silver recovery <br> (%)** |
| Brimstone | 40.1 | 11.6 | 418 | 437 | 20 | 256 | 40 | 5.41 | 2 | 98.5 | 72.9 |
| Brimstone | 40.1 | 11.6 | 418 | 212 | 40 | 360 | 40 | 6.05 | 2 | 54.3 | 71.2 |
| Hycroft Blend Float Concentrate | 38.5 | 18.1 | 2103 | 437 | 26 | 240 | 40 | 0.15 | 1 | 64.3 | 35.8 |
| Hycroft Blend Float Concentrate | 38.5 | 18.1 | 2103 | 437 | 26 | 240 | 40 | 1.45 | 2 | 63.8 | 52.0 |
| Hycroft Blend Float Concentrate | 38.5 | 18.1 | 2103 | 4372 | 26 | 240 | 40 | 2.95 | 5 | 63.8 | 82.1 |

---

The gold and silver recoveries from rougher flotation concentrate subjected to acid POX, followed by lime boil conditioning and cyanide leaching were in the mid-90% range for gold and approximately the mid-80% range for silver (Table 10-10).

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 97

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Acid POX followed by lime boil was evaluated during mineral resource development primarily due to its ability to consistently achieve high sulfide oxidation. Sulfide oxidation exceeding 95% is expected with POX, whereas AAO did not consistently achieve the target of 60%. As a result, gold and silver recoveries from POX residue are expected to be higher and more stable than those achieved using AAO. Additional factors for supporting the evaluation of POX included the following:

● Limestone
 is a more cost-effective reagent for acid neutralization.

● Cyanide
 consumption following pressure oxidation is lower than for AAO.

Soda ash was considered as an alternative to trona but was found to be less cost effective than limestone.

**Table 10-10: Hycroft Acid POX Testwork Summary**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sulfide Concentrate <br> Samples Tested** | **Sulfide (S=)**<br>**(wt%)** | **Au (ppm)** | **Ag<sup>1</sup> <br> (ppm)** | **Temp (°F)** | **Cyan. Conc.<sup>6</sup>**<br>**(ppt)** | **Sulfide Oxidation (%)** | **Au recovery (%)** | **Ag recovery (%)** | **Test Lab** |
| Brimstone | 40.1 | 11.60 | 418 | 374 | 1 | - | 97.5 | 89.0 | Hazen |
| Cut 4 | 36.9 | 11.40 | 168 | 374 | 1 | - | 94.0 | 94.1 | Hazen |
| Camel | 37.7 | 9.33 | 152 | 374 | 1 | - | 97.7 | 89.9 | Hazen |
| Bay | 22.1 | 6.03 | 52.3 | 374 | 1 | - | 97.5 | 75.3 | Hazen |
| Bone Yard | 31.9 | 5.97 | 95.3 | 374 | 1 | - | 96.0 | 86.0 | Hazen |
| Hycroft Blend | 38.5 | 18.10 | 2103 | 401 | 1 | - | 100.0 | 77.1 | Hazen |
| Sulfide Master Ro | 18.9 | 4.90 | 432 | 401 | 1 | - | 87.0 | 65.8 | Hazen |
| Mixed Master Ro | 9.3 | 8.50 | 193 | 401 | 1 | - | 82.8 | 86.4 | Hazen |
| Central Blk Sul Ro | 8.4 | 2.47 | 26 | 374 | 1 | 98.8 | 93.6 | 90.5 | SGS |
| Central Blk Sul Cl | 35.6 | 10.10 | 131 | 374 | 1 | 99.8 | 94.0 | 94.2 | SGS |
| Vortex Blk Sul Ro | 9.1 | 2.93 | 276 | 374 | 1 | 98.6 | 97.7 | 73.5 | SGS |
| Vortex Blk Sul Cl | 32.3 | 10.80 | 976 | 374 | 1 | 99.8 | 96.0 | 72.2 | SGS |
| Central Sul Cl | 30.7 | 10.30 | 750 | 374 | 1 | 98.1 | 93.5 | 81.9 | SGS |
| Brimstone Sul Cl | 34.7 | 7.93 | 392 | 374 | 1 | 83.6 | 53.6 | 49.5 | SGS |
| Vortex Sul Cl | 35.4 | 8.03 | 350 | 374 | 1 | 94.2 | 94.5 | 89.2 | SGS |
| POX 1 Cl con F-16<sup>2</sup> | 31.1 | 5.93 | 158 | 437 | 1 | 98.8 | 71.8 | 5.5 | SGS |
| POX 2 Cl con F-25<sup>3</sup> | 33.9 | 9.38 | 155 | 437 | 1 | 98.6 | 64.3 | 19.1 | SGS |
| POX 3 Cl con F-26<sup>4</sup> | 24.2 | 4.95 | 165 | 435 | 1 | 97.6 | 72.7 | 72.7 | SGS |
| Brimstone Sul Cl<sup>5</sup> | 33.9 | 7.13 | 383 | 428 | 2 | 99.9 | 94.0 | 97.0 | KCA |

---

Note:

1. Fire
 Assay

2. No
 lime boil, no NaCl

3. No
 lime boil, 1.34 oz/g NaCl

4. No
 lime boil, 2.67 oz/g NaCl

5. H<sub>2</sub>SO<sub>4</sub>
 added to autoclave feed

6. ppt
 = parts per trillion

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 98

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

10.3.4.5 Concentrate
 Oxidation Tests – Hazen 2025

In 2022 to 2025, Hycroft repeated flotation testing in preparation of concentrate for the POX Process Development program and achieved higher recovery rates with tighter controls on particle size, pH adjustment to 4.7, 24-minute conditioning time and 20% to 25% Mass Pull with a target of 22%.

A series of POX tests (POX-3 through POX-7) were conducted at Hazen Research, Inc. on pyrite flotation concentrate to evaluate oxidation performance and downstream precious metal recovery following hot cure, lime boil, and cyanide leaching. The objective of this test program was to establish repeatability, assess sensitivity to operating conditions, and confirm the effectiveness of the integrated POX–hot cure–lime boil–cyanidation flowsheet.

All POX tests were conducted in a 2-L titanium autoclave at a nominal temperature of 225°C, with oxygen overpressure of approximately 100 psig, and a total residence time of 90 minutes. The starting solution contained approximately 10 g/L H₂SO₄. Agitation speeds ranged from 1,000 to 1,020 rpm, and off-gas bleed rates were maintained at approximately 100 cm³/min.

Across POX-3 through POX-7, oxidation conditions were consistent and reproducible. No evidence of excessive passivation or runaway reactions was observed. The POX discharge slurries were subsequently subjected to hot cure to decompose basic iron sulfate phases prior to lime boiling and cyanide leaching.

10.3.4.6 Hot
 Cure – Hazen 2025

Hot cure tests were conducted on pressure-oxidized slurry at 90–95°C for 12 hours with agitation. The purpose of this step was to decompose basic iron sulfate species formed during pressure oxidation and to condition the solids for effective jarosite breakdown during lime boiling.

Across POX-3 to POX-7, hot cure performance was stable, with temperature control maintained within ±1°C of target. Filtration following hot cure produced well-behaved filter cakes suitable for downstream processing. No washing was conducted after hot cure, consistent with the intended flowsheet configuration.

10.3.4.7 Lime
 Boil – Hazen 2025

Lime boil tests were performed on hot-cured residues at 90–95°C under alkaline conditions (target pH approximately 11–11.5) to promote decomposition of jarosite and related basic iron sulfate phases. Residence times ranged from 4 hours to overnight, depending on the specific test objective.

Calcium hydroxide consumption varied across tests, reflecting differences in sulfate loading and the extent of iron sulfate formation during POX. Later tests (POX-6 and POX-7) incorporated extended lime boil durations and tighter pH control to ensure complete jarosite decomposition prior to cyanidation.

10.3.4.8 Cyanide
 Leaching – Hazen 2025

Cyanide bottle roll leach tests were conducted on lime-boiled residues at ambient temperature using sodium cyanide concentrations ranging from 2.5 to 5.0 g/L, with activated carbon addition where indicated. Leach durations were typically 48 hours.

In several cases, a second lime boil and/or second cyanide leach was performed where the initial cyanidation indicated incomplete precious metal extraction, particularly for silver. This staged approach demonstrated that additional gold and silver recovery could be achieved when jarosite decomposition was completed prior to cyanidation.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 99

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Overall, the combined results confirm that the integrated POX–hot cure–lime boil–cyanidation flowsheet is effective for achieving high gold and silver recoveries from the pyrite concentrate. Table 10-11 summarizes the POX 3 through POX 7 test results.

**Table 10-11: Summary Comparison Table – POX 3 to POX-7**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Test** | **POX Temp <br> (°C)** | **O₂ Overpressure (psig)** | **Hot Cure**<br> **(°C/h)** | **Lime Boil** <br> **(°C/h)** | **NaCN**<br> **(g/L)** | **Au Extraction (%)** | **Ag Extraction (%)** |
| POX-3 | 225 | 100 | 90–93 / 12 | 90–95 / 4 | 5.0 | ~91 | ~95 |
| POX-4 | 225 | 100 | 90–95 / 12 | 90–95 / overnight | 5.0 | >92 | ~95 |
| POX-5 | 225 | 100 | 90–95 / 12 | 90–95 / overnight | 5.0 | ~92 | ~93 |
| POX-6 | 225 | 100 | 90–93 / 12 | 90–95 / 4 | 5.0 | ~93 | ~88–90 |
| POX-7 | 225 | 100 | 95 / 12 | 95 / 24+ | 2.5–5.0 | ~93 | ~92 |

---

Note: Gold and silver extractions shown are combined values based on feed and final residues. Minor balance deviations are attributed to analytical uncertainty and low residual grades

The POX-3 through POX-7 test series demonstrates that pressure oxidation at 225°C with oxygen overpressure, followed by hot cure, lime boil, and cyanide leaching, is a robust and repeatable processing route for the pyrite concentrate. Variability in silver recovery was primarily associated with the completeness of jarosite decomposition, which was successfully addressed through extended lime boiling and staged cyanidation.

These results provide a defensible metallurgical basis for flowsheet development and recovery assumptions.

10.3.5 Solid-Liquid
 Separation Tests

Several thickeners are included in the Hycroft flowsheet. Updated settling tests for these thickeners were conducted by Pocock Industrial, Inc. using samples generated during hydrometallurgical process development studies performed by Hazen Research, Inc.

Tested sample streams included:

● rougher
 flotation concentrate

● neutralized
 AAO circuit product (pre-leach)

● cyanide-leached
 slurry (CCD feed)

● rougher
 flotation tailings.

A summary of the settling test results is presented in Table 10-12 below.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 100

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 10-12: Settling Test Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sample** | **Tested Feed Solids**<br> **(%)** | **Design Basis Net Feed Loading (ft<sup>2</sup>/gal/mmin.)** | **Flocculant Dosage (lb/ton)** | **Predicted U'flow Density**<br> **(% solids)** | **Overflow Clarity, (ppm) TSS** |
| Rougher Concentrate | 7.47 – 14.79 | 0.87 – 1.37 | 0.12 – 0.13 | 40.6 – 49.1 | 150 – 318 |
| Pre-Leach Oxidized Concentrate | 7.52 – 7.75 | 0.68 – 0.92 | 0.11 – 0.17 | 35.0 – 41.0 | 150 – 329 |
| CCD Feed | 7.41 – 8.00 | 0.92 – 1.11 | 0.15 – 0.17 | 33.0 – 37.0 | 150 – 349 |
| Rough Tailings | 14.10 – 15.80 | 0.84 – 0.88 | 0.07 – 0.13 | 59.5 – 65.0 | 150 – 250 |

---

10.3.6 Deleterious
 Elements

The deleterious element assay results for five bulk samples analyzed by Hazen Research Inc are presented in Table 10-13 below.

**Table 10-13: Deleterious Element Assay**

---

| | |
|:---|:---|
| **Sample ID** | **Hg (ppm)** |
| Cut 4 Bin-03, -08, and -18 | 4.19 |
| Brimstone Bin-14 and -20 | 2.68 |
| Camel Conglomerate Bin -26, -27, and -28 | 2.35 |
| Boneyard Bin-9, -16, and -23 | 15.70 |
| Bay Bulk Bin-7, -11, and -24 | 9.96 |

---

Mercury is present in the mineralized material at moderate to high levels and is a deleterious element that can negatively impact gold recovery. Mercury is managed through zinc precipitation, followed by retorting to capture and remove the mercury.

10.3.7 Metallurgical
 Parameters for Process Design Criteria and Financial Analysis

Overall plant recovery is calculated by multiplying the flotation recoveries by the recoveries achieved in POX, cyanide leaching, and counter current decantation (CCD), by the refining recovery in Merrill-Crowe precipitation. The proposed process plant overall recoveries are presented in Table 10-14 below.

**Table 10-14: Process Plant Overall Recovery Prediction**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Element** | **Flotation Recovery**<br> **(%)** | **Cyanide Extraction**<br> **(%)** | **Refining Recovery**<br> **(%)** | **Overall Recovery**<br> **(%)** | **2023 Tech Report Overall Recovery (%)** |
| Au | 89.5 | 93.5 | 99.0 | 82.8 | 76.0 |
| Ag | 92.9 | 86.0 | 97.0 | 77.5 | 76.0 |

---

Note: Overall Recovery = (Flotation Recovery) x (POX and Cyanide Leach Recovery) x (Refining Recovery)

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 101

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11 Mineral Resource Estimates

11.1 Summary

Mineral resources for the Hycroft deposit were developed using conventional block modeling methods and open pit optimization software to estimate the component of mineralization that has reasonable prospect of eventual economic extraction ("RPEEE"). The mineral resource was developed in accordance with the US Securities and Exchange Commission Rule SK-1300 for Mineral Projects. The estimate of mineral resources reflects in-place mineralization as the point of reference. The Effective Date of the Resource Estimate is January 1, 2026. The MRE presented here supersedes any previously stated Mineral Resources for the Hycroft property.

The model was assembled by Ryan Rodney, C.P.G. of Hycroft. Independent Mining Consultants, Inc. ("IMC") worked with Hycroft and reviewed the final model. IMC is an independent third party with necessary relevant experience and has checked and validated the mineral resource wherever possible, and is assuming responsibility for the published mineral resource, with John Marek P.E. acting as the Engineer of Record.

11.2 Model
 Location

The block model is assembled in the existing local mine grid. That grid is rotated 15.85 degrees (left rotation looking down) compared to true north. Table 11-1 summarizes the block size and block limits.

**Table 11-1: Block Size and Model Size**

---

| | | | |
|:---|:---|:---|:---|
| **Model Location** | **From Coordinates** | **To Coordinates** | **Number of Blocks** |
| Easting Limit | 13000 | 26000 | 325 |
| Northing Limit | 35440 | 54800 | 484 |
| Elevation Limits | 2200 | 6600 | 110 |
| Block Size (Parent, subblock) | Block Size (Parent, subblock) | Block Size (Parent, subblock) | 40 x 40 x 40 ft |

---

The drillhole database and the block model are all in the mine grid. To the user, there does not appear to be a rotation because the mine grid is treated as if there were no rotation. The block size selection will be discussed in a later sub-section.

11.3 Database

The drillhole database has been assembled over many years by multiple companies using at least four different drill methods. That history and the verification of the historical information have been discussed in previous sections. Additional drilling has been completed since the previous mineral resource with additional checking, and corrections have been completed on the historic database. The cutoff date for the drilling database is March 17, 2025, which represents the last data received from the 2024 drilling campaign.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 102

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

There are stockpiles and historical leach pads at the mine that are within the block model area. Many of those have been drilled after the original excavation by sonic or rotary methods. The stockpile holes have been used to estimate the stockpile and leach pad areas, only; they have not been used to estimate in-situ rock. In total, the Hycroft database contains 6,023 drillholes with 534,881 sample intervals amounting to 2,814,546 ft of drilling. Within the area of the block model, there are 5,813 drillholes with 516,901 drill intervals amounting to 2,668,616 ft of drilling. There has been 87,383 ft of drilling in 70 drill holes that have been added due to drilling or database correction since the previous mineral resource in March 2023. Table 11-2 summarizes the amount of drilling and assay information that was used to assemble the block model.

**Table 11-2: Data Available for the Assembly of the Resource Model for Au, Ag, AuCn, Sulfide Sulfur**

---

| | | | |
|:---|:---|:---|:---|
| **Number of** | **Total in Model** | **Stockpile Drilling** | **Assays for Estimation After Removal of 1982-1987 Drilling** |
| Holes | 5813 | 188 | 4221 |
| Assay Intervals | 516901 | 3268 | 460131 |
| Au Fire Assays | 488222 | 2354 | 433422 |
| Au Cn Assays | 380400 | 1952 | 325962 |
| Ag Fire Assays | 330110 | 2336 | 327774 |
| Ag Cn Assays | 327125 | 1972 | 309137 |
| Sulfide Assays | 39058 | 2450 | 39058 |

---

The "Assays for Estimation After Removal of 1982-1987 Drilling" column indicates how much of the information was used to estimate measured and indicated class mineralization.

Sulfide sulfur levels have been estimated from a combination of three data sources. A set of sample composites were established by weighing pulp material from the drillholes to represent 25 ft composites from selected holes during 2011 and 2014. Specific holes were selected to provide coverage over the zone of the deposit being considered for flotation mill treatment. Those 25 ft samples were analyzed by LECO methods to determine sulfide sulfur percent by weight. In addition, all recent drilling in 2021 through mid-way through 2023 were assayed for sulfide sulfur using the LECO method on each 5 ft interval. Starting in the 2023 drilling campaign, LECO analyses were reverted to the 25 ft samples created from pulp samples. The three data sets were combined and then numerically distributed to 25 ft down-hole intervals. The combined sulfide sulfur LECO database inside the model contains 13,523 composites that are 25 ft long, averaging 1.66% sulfide sulfur.

There is additional multi-element ICP data available that was not used in the development of this resource model.

11.4 Basic
 Statistics

The assay values of economic interest are gold, silver, and sulfide sulfur. This mineral resource estimate is based on utilizing the POX process for flotation concentrate treatment. Sulfide sulfur content is a key measurable indicator in the POX process with potential operating cost impacts. There is a direct correlation of sulfide sulfur content to lime and limestone consumption during the Hot Cure and Lime Boil steps after POX and prior to cyanide leaching.

In addition, the cyanide soluble assays of gold are of interest because they provide a basis to establish the best metallurgical process based on the ability of the gold to dissolve into cyanide solution.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 103

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-3 presents the basic statistics of the assay database used to assemble the model. The stockpile assays are not included in the table and the assay data from 1982 through 1987 have been removed. The entire database listed in Table 11-3 was used for block grade estimation even though some of the assay values are located above current post mining topography. Drilling data from 1982 through 1987 was bias corrected and used to contribute to inferred class mineralization only. The cyanide data is represented as the ratio of cyanide gold divided by fire gold where the cyanide gold value exists and when fire gold is greater than or equal to 0.001 oz/ton.

**Table 11-3: Assay Database (No Stockpile Assays, Inside the Model, and No Drilling from 1982 through 1987)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Commodity** | **Number of Assays** | **Mean <br> Grade** | **Standard Deviation** | **Minimum Value** | **Maximum Value** |
| Fire Au | 433422 | 0.0063 oz/t | 0.0145 | 0 oz/t | 3.15 oz/t |
| CnAu/FaAu (ratio) | 251475 | 0.3431 ratio | 0.3156 | 0 ratio | 1.00 ratio |
| Ag | 327774 | 0.25 oz/t | 5.20 | 0 oz/t | 2,334 oz/t |
| Sulfide Sulfur in %, 25 ft Composites | 13486 | 1.65% | 1.39% | 0% | 42.86% |

---

Table 11-3 also illustrates that Au cyanide soluble ratio (CnAu/FaAu) data exists on 58% of the database. Total silver assays exist on 76% of the database. During later historic leach operations, cyanide Ag assays were generally completed, however fire Ag assays were not common. Estimation of total or fire Ag will consequently be limited by the smaller number of available assays. Cyanide Ag assays were not used for block grade estimation due to uncertainty in that data identified during checks of the certificates of assay.

Cyanide soluble gold assays were completed on approximately 75% of the intervals where there are gold fire assays. The ratio of cyanide soluble Au to fire assay Au (CnAu/FaAu) ratio has been used to estimate the intensity of oxidation within the deposit. Although not statistically optimum, the process is necessary and common in the industry. The ratio of cyanide soluble Au to fire assay Au is used in mine planning to allocate material to the proper treatment process. When the CnAu/FaAu is calculated, values over 1.0 are set back to 1.0. The basic statistics of CnAu/FaAu are also summarized on Table 11-3. In simple terms, the cyanide to fire ratio reflects the degree of oxidation in the rock mass.

The apparent loss of cyanide ratio data (75% assay to 58% ratio) is because a gold fire value of 0.001 oz/ton or greater was required to calculate a meaningful ratio. In many cases the cyanide assays and / or the fire assay reported as trace values. In those cases, the resulting cyanide ratio was either 0.0, 0.5, or 1.0. Those values are meaningless when determining the level of oxidation and the relative cyanide amenability of the fire gold assay and were removed from the estimation process.

11.5 Geology

The geology of the Hycroft deposit has been presented in previous report sections. The primary occurrences which have control on the grade distribution at Hycroft are Lithology, Alteration, and Structure. Each has an impact on mineralization.

11.6 Lithology

The following are the main lithology or rock types in the Hycroft deposit:

● Alluvium.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 104

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

● Tuffaceous
 Lake Bed Sediment, part of the TSG.

● Camel
 Conglomerate, part of the TSG, and eroded from the Kamma Volcanics.

● Kamma
 Volcanics, Tertiary, but older than the sulfur group conglomerates and sediments.

● Auld
 Lang Syne ("ALS"), Jurassic laminated siltstone, the basement of the deposit.

The lithology interpretation was updated by Hycroft since the previous Technical Report. The primary change was a reduction in size of the TSG unit due to detailed review of the original geologic logging by Hycroft geologists. New wire frame solids were developed and used to code the model blocks to the nearest whole block. The main mineral hosts are the Camel and Kamma units; however, mineralization is found in all the lithologic units.

Interpreted solids representing the above rock types were provided by Hycroft and checked against logging by IMC. IMC found them appropriate for use in the development of the resource model. Figure 11-1 is an east–west cross-section illustrating the major rock types looking north.

**Figure 11-1: East–West Cross-Section 44000-N Looking North, showing Lithology Types**

![](ex_040.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 105

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.7 Alteration

Alteration consists of:

● acid
 leach

● argillic

● silicic

● propylitic

● unaltered.

Hycroft provided alteration solids to IMC that have not been updated since the previous Technical Report. IMC checked those solids against the logged database and found them to be acceptable for use in development of the resource model. In summary, when propylitic alteration was encountered, boundary analysis and basic statistics indicated that it was statistically similar to the argillic altered material, and it was combined with argillic during block grade estimation.

Silicic alteration is common and tends to be deeper and generally more prevalent in the eastern portion of the deposit. Boundary and statistical analysis indicate that the silicic altered material is generally higher grade than the argillic-propylitic altered rock. Figure 11-2 is an east–west cross-section through the interpreted alterations, looking north.

**Figure 11-2: East–West Cross-Section 44000-N Looking North, showing Alterations**

![](ex_041.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 106

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.8 Structure

Several north–south striking basin and range faults cut through the Hycroft deposit. In addition to those faults, the deposit is cut by the Ramp Fault and the west dipping East Fault. The East Fault is interpreted to be a thick shear zone and appears to be the orientation and probably the conduit of mineralization in the eastern portion of the deposit. The footwall of the East Fault has minor low-grade mineralization in the Kamma formation.

Figure 11-3 is a map view of the faults and the numbering system assigned to the fault blocks between the faults. The fault block numbers will be used to define the domains and search parameters for block grade estimation.

There are additional interpreted faults through the deposit, but after review by the Hycroft geology and modeling team, the faults and fault blocks on Figure 11-3 were selected as those that had impact or control on the mineralization

**Figure 11-3: Structure and Domain Interpretation (plan view)**

![](ex_042.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 107

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.9 Domains

Domains for grade estimation are a combination of structure, alteration, and lithology. The domain boundaries were developed by studying the basic statistics by Hycroft and by boundary analysis completed by IMC to confirm the domain interpretation.

Boundary analysis selects the assay (or composite) information from both sides of the boundary being tested at several different separation distances. IMC then completes a series of statistical hypothesis tests to confirm if the data on either side of the boundary could have come from the same or different statistical populations.

As a result of the work described above, the selected 22 domains are summarized on Table 11-4. In addition to the domains created from boundary analysis, Hycroft identified and created 16 additional discrete domains to represent high-grade (greater than or equal to 4 opt) silver veins. The silver domains create additional boundaries which isolate the higher-grade veins from the lower grade disseminated silver to prevent too much smearing during estimation. The domains are identified in Table 11-5, where 6,000 series represent the Vortex area, and 7,000 series represent the Brimstone area. Figure 11-4 shows the location of the high-grade silver domains. These domains are treated as hard boundaries where composites outside the boundary do not influence the inside, and the composites inside do not influence outside the boundary.

Sulfide sulfur utilized a different set of domains based on similar analysis as applied to gold and silver. There are three domains for sulfide sulfur illustrated on Table 11-6.

**Table 11-4: Population Domains for Grade Estimation**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Domain Name** | **Structure Block** | **Lithology** | **Alteration** | **Description** |
| Alluvium | All | Alluvium | All | Alluvium |
| TSG_seds | All | TSG | All | Tertiary Lake Bed Sediments (TSG) |
| auld lang syne | All | ALS | All | ALS formation |
| acid leach | All | All | Acid Leach | Acid Leach Alteration |
| domain_1_arg_prop | 1 | Kamma+Camel | Argillic+Propylitic | West of the Range Fault, North of the Camel Fault |
| domain_1_silicic | 1 | Kamma+Camel | Silicic | West of the Range Fault, North of the Camel Fault |
| domain_1_unaltered | 1 | Kamma+Camel | Unaltered | West of the Range Fault, North of the Camel Fault |
| Domain_2_arg_prop | 2 | Kamma+Camel | Argillic+Propylitic | Between Range and Central Faults, North of the Camel Fault |
| domain_2_silicic | 2 | Kamma+Camel | Silicic | Between Range and Central Faults, North of the Camel Fault |
| domain_2_unaltered | 2 | Kamma+Camel | Unaltered | Between Range and Central Faults, North of the Camel Fault |
| domain_3_arg_prop | 3 | Kamma+Camel | Argillic+Propylitic | Between Central and East, Albert Fault, North of the Camel Fault |
| domain_3_silicic | 3 | Kamma+Camel | Silicic | Between Central and East, Albert Fault, North of the Camel Fault |
| domain_3_unaltered | 3 | Kamma+Camel | Unaltered | Between Central and East, Albert Fault, North of the Camel Fault |
| domain_4_arg_prop | 4 | Kamma+Camel | Argillic+Propylitic | East of East Fault, South of the Ramp Fault |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 108

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Domain Name** | **Structure Block** | **Lithology** | **Alteration** | **Description** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| domain_4_silicic | 4 | Kamma+Camel | Silicic | East of East Fault, South of the Ramp fault |
| domain_4_unaltered | 4 | Kamma+Camel | Unaltered | East of East Fault, South of the Ramp fault |
| domain_5_arg_prop | 5 | Kamma+Camel | Argillic+Propylitic | South of the Camel Fault, West of the East Fault |
| domain_5_silicic | 5 | Kamma+Camel | Silicic | South of the Camel Fault, West of the East Fault |
| domain_5_unaltered | 5 | Kamma+Camel | Unaltered | South of the Camel Fault, West of the East Fault |
| domain_6_arg_prop | 6 | Kamma+Camel | Argillic+Propylitic | East of Albert Fault, North of Ramp fault |
| domain_6_silicic | 6 | Kamma+Camel | Silicic | East of Albert Fault, North of Ramp fault |
| domain_6_unaltered | 6 | Kamma+Camel | Unaltered | East of Albert Fault, North of Ramp fault |

---

**Table 11-5: High-grade Silver Vein Domains**

---

| | | | |
|:---|:---|:---|:---|
| **Domain Name** | **Structure Block** | **Alteration** | **Description** |
| ag_6001 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6002 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6003 | 34 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6004 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6005 | 34 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6006 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6007 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6008 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6009 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6010 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6011 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_6012 | 3 Kamma | Argillic+Propylitic+Silicic | Vortex High-grade silver vein |
| ag_7001 | 3 Kamma | Argillic+Propylitic+Silicic | Brimstone High-grade silver vein |
| ag_7002 | 3 Kamma | Argillic+Propylitic+Silicic | Brimstone High-grade silver vein |
| ag_7004 | 3 Kamma | Argillic+Propylitic+Silicic | Brimstone High-grade silver vein |
| ag_7005 | 3 Kamma | Argillic+Propylitic+Silicic | Brimstone High-grade silver vein |

---

**Table 11-6: Sulfide Domains**

---

| | | |
|:---|:---|:---|
| **Sulfide Domain Number** | **Structure Block** | **Description** |
| 1 | All Acid Leach | Alluvium |
| 2 | 346 All | East of the Central fault |
| 4 | 125 All | West of the Central fault flat dipping |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 109

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-4: Structure and Domain Interpretation with Silver Wireframes (plan view)**

![](ex_043.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 110

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.10 Assay
 Caps

Prior to grade estimation, high-grade outliers were capped to limit undue impact on block grade estimation. Histograms were studied by Hycroft within each of the domains to set cap values. IMC spot checked the cap values using cumulative frequency plots. In all cases, only a small percentage of high valued samples were capped, generally less than 0.5% of the database. Table 11-7 summarizes the cap values that were applied to assays prior to calculating composites.

**Table 11-7: Assay Cap Values**

---

| | | |
|:---|:---|:---|
| **Domain** | **Gold Cap Value (opt)** | **Silver Cap Value (opt)** |
| Alluvium | 0.10 | 3 |
| TSG_Seds | 0.06 | 7 |
| Auld Lang Syne | 0.07 | 4 |
| Acid Leach | 0.25 | 5 |
| domain_1_arg_prop | 0.07 | 5 |
| domain_1_silicic | 0.09 | 15 |
| domain_1_unaltered | 0.06 | 3 |
| Domain_2_arg_prop | 0.36 | 12 |
| domain_2_silicic | 0.55 | 34 |
| domain_2_unaltered | 0.04 | 2.5 |
| domain_3_arg_prop | 0.35 | 30 |
| domain_3_silicic | 0.65 | 55 |
| domain_3_unaltered | 0.05 | 10 |
| domain_4_arg_prop | 0.07 | 6 |
| domain_4_silicic | 0.15 | 15 |
| domain_4_unaltered | 0.07 | 2 |
| domain_5_arg_prop | 0.03 | 0.5 |
| domain_5_silicic | 0.04 | 3.5 |
| domain_5_unaltered | 0.03 | 1 |
| domain_6_arg_prop | 0.06 | 1.5 |
| domain_6_silicic | 0.12 | 30 |
| domain_6_unaltered | 0.07 | 4 |
| ag_6001 | na | 12 |
| ag_6002 | na | 14 |
| ag_6003 | na | 35 |
| ag_6004 | na | 15 |
| ag_6005 | na | 8 |
| ag_6006 | na | 20 |
| ag_6007 | na | 12 |
| ag_6008 | na | 14 |
| ag_6009 | na | 25 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 111

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Domain** | **Gold Cap Value (opt)** | **Silver Cap Value (opt)** |

---

---

| | |
|:---|:---|
| ag_6010na | 20 |
| ag_6011 na | 8 |
| ag_6012 na | 20 |
| ag_7001 na | 300 |
| ag_7002 na | 15 |
| ag_7004 na | 60 |
| ag_7005 na | 9 |

---

The gold cyanide to fire assay ratio was capped at 1.0 to assure that there were no values with cyanide assay greater than fire assay when estimating the model.

In all cases above, the stockpile drilling and the drilling in the Crofoot leach pad were excluded from the analysis as they do not represent in-situ mineralization.

Sulfide cap values were applied to the original sulfide data prior to compositing. The cap levels by sulfide domain are summarized on Table 11-8.

**Table 11-8: Sulfide Cap Values Prior to Compositing**

---

| | |
|:---|:---|
| **Alteration** | **Sulfide Cap Level % Sulfide** |
| Acid Leach All | 12.00% |
| Argilic All | 17.00% |
| Propylitic All | na |
| Silicic All | 28.00% |
| Unaltered All | 12.00% |

---

11.11 Bench
 Height Confirmation

A test was completed to confirm the selection of bench height for the model. The assay database was composited into alternative bench height intervals of 20 ft to 50 ft in 5-ft intervals. For each set of composites, the number of composites above cutoff and the average grade of those composites above cutoff were calculated. The number of composites multiplied by the average grade is used as an approximation of contained metal above cutoff. Multiple cutoffs of 0.001 through 0.007 oz/ton Au were tested at each of the bench heights. The stockpile and leach pad drilling were not included in the analysis.

Figure 11-5 indicates that the gold grade is not particularly sensitive to bench height and the selected bench height of 40 ft is a reasonable value considering the relatively high ore production rate being considered at Hycroft (nearly 60,000 t/d).

Future work could consider increasing the bench height to 50 ft, but 50 ft is only about a 1.2% improvement over the contained metal at 40 ft.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 112

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-5: Bench Height Analysis**

![](ex_044.jpg)

Source: IMC, 2025

11.12 Composites

Downhole (length) composites were created from the capped, raw assay values for input to block grade estimation. Composite lengths of 40 ft were used for gold and silver estimation outside of the silver veins. Within the silver veins, the composite length was set to 10 ft due to the narrow width of the interpreted veins.

The capped assays were composited at 40 ft down-hole intervals, respecting the alteration and mineral domain boundaries described above. A minimum of 20 ft was required for a composite and anything less than 20 ft was applied to the previous interval. Table 11-9 summarizes the basic statistics of the composited assay data.

Table 11-10 summarizes the basic statistics of the composited sulfide-sulfur data as 25 ft composites.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 113

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Table 11-9: Basic Statistics of Composites, In-Situ Rock, Eliminating Years 1982 to 1987**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistics Summary for Composites** | **Statistics Summary for Composites** | **Statistics Summary for Composites** | **Statistics Summary for Composites** |
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistic** | **Au oz/ton** | **Ag oz/ton** | **CnAu/ AuFa Ratio** |
| alluvium | All | Alluvium | All | N = | 2644 | 1849 | 1058 |
| alluvium | All | Alluvium | All | Mean = | 0.0028 | 0.0873 | 0.5370 |
| alluvium | All | Alluvium | All | Max = | 0.0508 | 1.6595 | 1 |
| alluvium | All | Alluvium | All | Std = | 0.0039 | 0.1134 | 0.26 |
| TSG_seds | All | TSG | All | N = | 1465 | 1254 | 363 |
| TSG_seds | All | TSG | All | Mean = | 0.0025 | 0.0882 | 0.2380 |
| TSG_seds | All | TSG | All | Max = | 0.0336 | 4.2323 | 1 |
| TSG_seds | All | TSG | All | Std = | 0.0042 | 0.1814 | 0.214 |
| auld lang syne | All | ALS | All | N = | 49 | 51 | 9 |
| auld lang syne | All | ALS | All | Mean = | 0.0014 | 0.0410 | 0.2700 |
| auld lang syne | All | ALS | All | Max = | 0.0105 | 0.2061 | 0.45 |
| auld lang syne | All | ALS | All | Std = | 0.0019 | 0.0428 | 0.132 |
| acid leach | All | All | Acid Leach | N = | 5401 | 1621 | 3486 |
| acid leach | All | All | Acid Leach | Mean = | 0.0048 | 0.0888 | 0.6070 |
| acid leach | All | All | Acid Leach | Max = | 0.1245 | 1.9186 | 1 |
| acid leach | All | All | Acid Leach | Std = | 0.0076 | 0.1645 | 0.252 |
| domain_1_arg_prop | 1 | Kamma+Camel | Argillic+Propylitic | N = | 373 | 352 | 80 |
| domain_1_arg_prop | 1 | Kamma+Camel | Argillic+Propylitic | Mean = | 0.0020 | 0.0745 | 0.1950 |
| domain_1_arg_prop | 1 | Kamma+Camel | Argillic+Propylitic | Max = | 0.0198 | 1.0011 | 0.688 |
| domain_1_arg_prop | 1 | Kamma+Camel | Argillic+Propylitic | Std = | 0.0032 | 0.0858 | 0.17 |
| domain_1_silicic | 1 | Kamma+Camel | Silicic | N = | 824 | 795 | 513 |
| domain_1_silicic | 1 | Kamma+Camel | Silicic | Mean = | 0.0071 | 0.1983 | 0.1210 |
| domain_1_silicic | 1 | Kamma+Camel | Silicic | Max = | 0.0476 | 6.4177 | 1 |
| domain_1_silicic | 1 | Kamma+Camel | Silicic | Std = | 0.0065 | 0.4468 | 0.167 |
| domain_1_unaltered | 1 | Kamma+Camel | Unaltered | N = | 305 | 306 | 44 |
| domain_1_unaltered | 1 | Kamma+Camel | Unaltered | Mean = | 0.0017 | 0.0918 | 0.4180 |
| domain_1_unaltered | 1 | Kamma+Camel | Unaltered | Max = | 0.0205 | 1.1522 | 0.863 |
| domain_1_unaltered | 1 | Kamma+Camel | Unaltered | Std = | 0.003 | 0.1271 | 0.258 |
| Domain_2_arg_prop | 2 | Kamma+Camel | Argillic+Propylitic | N = | 4461 | 3169 | 1941 |
| Domain_2_arg_prop | 2 | Kamma+Camel | Argillic+Propylitic | Mean = | 0.0040 | 0.0932 | 0.4100 |
| Domain_2_arg_prop | 2 | Kamma+Camel | Argillic+Propylitic | Max = | 0.1091 | 4.8678 | 1 |
| Domain_2_arg_prop | 2 | Kamma+Camel | Argillic+Propylitic | Std = | 0.0066 | 0.2059 | 0.287 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 114

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistics Summary for Composites** | **Statistics Summary for Composites** | **Statistics Summary for Composites** | **Statistics Summary for Composites** |
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistic** | **Au oz/ton** | **Ag oz/ton** | **CnAu/ AuFa Ratio** |
| domain_2_silicic | 2 | Kamma+Camel | Silicic | N = | 10458 | 7120 | 8503 |
| domain_2_silicic | 2 | Kamma+Camel | Silicic | Mean = | 0.0100 | 0.1895 | 0.3220 |
| domain_2_silicic | 2 | Kamma+Camel | Silicic | Max = | 0.3368 | 11.5751 | 1 |
| domain_2_silicic | 2 | Kamma+Camel | Silicic | Std = | 0.0101 | 0.4312 | 0.27 |
| domain_2_unaltered | 2 | Kamma+Camel | Unaltered | N = | 151 | 128 | 49 |
| domain_2_unaltered | 2 | Kamma+Camel | Unaltered | Mean = | 0.0030 | 0.0800 | 0.3330 |
| domain_2_unaltered | 2 | Kamma+Camel | Unaltered | Max = | 0.0328 | 0.8482 | 1 |
| domain_2_unaltered | 2 | Kamma+Camel | Unaltered | Std = | 0.0046 | 0.132 | 0.274 |
| domain_3_arg_prop | 3 | Kamma+Camel | Argillic+Propylitic | N = | 7101 | 5944 | 2386 |
| domain_3_arg_prop | 3 | Kamma+Camel | Argillic+Propylitic | Mean = | 0.0033 | 0.1091 | 0.3090 |
| domain_3_arg_prop | 3 | Kamma+Camel | Argillic+Propylitic | Max = | 0.1395 | 5.9384 | 1 |
| domain_3_arg_prop | 3 | Kamma+Camel | Argillic+Propylitic | Std = | 0.0062 | 0.2488 | 0.253 |
| domain_3_silicic | 3 | Kamma+Camel | Silicic | N = | 16860 | 13688 | 12995 |
| domain_3_silicic | 3 | Kamma+Camel | Silicic | Mean = | 0.0085 | 0.3065 | 0.2780 |
| domain_3_silicic | 3 | Kamma+Camel | Silicic | Max = | 0.251 | 36.5706 | 1 |
| domain_3_silicic | 3 | Kamma+Camel | Silicic | Std = | 0.0094 | 0.6761 | 0.247 |
| domain_3_unaltered | 3 | Kamma+Camel | Unaltered | N = | 723 | 384 | 363 |
| domain_3_unaltered | 3 | Kamma+Camel | Unaltered | Mean = | 0.0023 | 0.1048 | 0.5680 |
| domain_3_unaltered | 3 | Kamma+Camel | Unaltered | Max = | 0.0349 | 3.5645 | 1 |
| domain_3_unaltered | 3 | Kamma+Camel | Unaltered | Std = | 0.0034 | 0.2502 | 0.294 |
| domain_4_arg_prop | 4 | Kamma+Camel | Argillic+Propylitic | N = | 1203 | 1146 | 224 |
| domain_4_arg_prop | 4 | Kamma+Camel | Argillic+Propylitic | Mean = | 0.0017 | 0.0738 | 0.3990 |
| domain_4_arg_prop | 4 | Kamma+Camel | Argillic+Propylitic | Max = | 0.0338 | 1.932 | 1 |
| domain_4_arg_prop | 4 | Kamma+Camel | Argillic+Propylitic | Std = | 0.0028 | 0.1335 | 0.275 |
| domain_4_silicic | 4 | Kamma+Camel | Silicic | N = | 1232 | 995 | 563 |
| domain_4_silicic | 4 | Kamma+Camel | Silicic | Mean = | 0.0040 | 0.1787 | 0.3980 |
| domain_4_silicic | 4 | Kamma+Camel | Silicic | Max = | 0.0604 | 3.9584 | 1 |
| domain_4_silicic | 4 | Kamma+Camel | Silicic | Std = | 0.0051 | 0.3188 | 0.29 |
| domain_4_unaltered | 4 | Kamma+Camel | Unaltered | N = | 283 | 259 | 55 |
| domain_4_unaltered | 4 | Kamma+Camel | Unaltered | Mean = | 0.0012 | 0.0290 | 0.3850 |
| domain_4_unaltered | 4 | Kamma+Camel | Unaltered | Max = | 0.0323 | 0.6248 | 0.935 |
| domain_4_unaltered | 4 | Kamma+Camel | Unaltered | Std = | 0.003 | 0.0558 | 0.186 |
| domain_5_arg_prop | 5 | Kamma+Camel | Argillic+Propylitic | N = | 107 | 100 | 11 |
| domain_5_arg_prop | 5 | Kamma+Camel | Argillic+Propylitic | Mean = | 0.0008 | 0.0830 | 0.3170 |
| domain_5_arg_prop | 5 | Kamma+Camel | Argillic+Propylitic | Max = | 0.0193 | 0.2503 | 0.7 |
| domain_5_arg_prop | 5 | Kamma+Camel | Argillic+Propylitic | Std = | 0.0025 | 0.0349 | 0.25 |
| domain_5_silicic | 5 | Kamma+Camel | Silicic | N = | 207 | 198 | 50 |
| domain_5_silicic | 5 | Kamma+Camel | Silicic | Mean = | 0.0021 | 0.0914 | 0.1760 |
| domain_5_silicic | 5 | Kamma+Camel | Silicic | Max = | 0.0214 | 0.7186 | 0.863 |
| domain_5_silicic | 5 | Kamma+Camel | Silicic | Std = | 0.0039 | 0.0958 | 0.203 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 115

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistics Summary for Composites** | **Statistics Summary for Composites** | **Statistics Summary for Composites** | **Statistics Summary for Composites** |
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistic** | **Au oz/ton** | **Ag oz/ton** | **CnAu/ AuFa Ratio** |
| domain_5_unaltered | 5 | Kamma+Camel | Unaltered | N = | 94 | 93 | - |
| domain_5_unaltered | 5 | Kamma+Camel | Unaltered | Mean = | 0.0004 | 0.0797 | - |
| domain_5_unaltered | 5 | Kamma+Camel | Unaltered | Max = | 0.003 | 0.2559 | - |
| domain_5_unaltered | 5 | Kamma+Camel | Unaltered | Std = | 0.0005 | 0.0381 | - |
| domain_6_arg_prop | 6 | Kamma+Camel | Argillic+Propylitic | N = | 896 | 774 | 83 |
| domain_6_arg_prop | 6 | Kamma+Camel | Argillic+Propylitic | Mean = | 0.0009 | 0.0696 | 0.4590 |
| domain_6_arg_prop | 6 | Kamma+Camel | Argillic+Propylitic | Max = | 0.0298 | 0.3795 | 1 |
| domain_6_arg_prop | 6 | Kamma+Camel | Argillic+Propylitic | Std = | 0.0018 | 0.0529 | 0.311 |
| domain_6_silicic | 6 | Kamma+Camel | Silicic | N = | 583 | 496 | 225 |
| domain_6_silicic | 6 | Kamma+Camel | Silicic | Mean = | 0.0041 | 0.1869 | 0.2690 |
| domain_6_silicic | 6 | Kamma+Camel | Silicic | Max = | 0.0382 | 10.7052 | 1 |
| domain_6_silicic | 6 | Kamma+Camel | Silicic | Std = | 0.0051 | 0.5849 | 0.241 |
| domain_6_unaltered | 6 | Kamma+Camel | Unaltered | N = | 161 | 136 | 97 |
| domain_6_unaltered | 6 | Kamma+Camel | Unaltered | Mean = | 0.0037 | 0.1936 | 0.5050 |
| domain_6_unaltered | 6 | Kamma+Camel | Unaltered | Max = | 0.0199 | 1.175 | 0.906 |
| domain_6_unaltered | 6 | Kamma+Camel | Unaltered | Std = | 0.0039 | 0.2161 | 0.177 |
| ag_6001 | 3 | Kamma | Argillic+Propylitic+Silicic | N = | na | 41 | na |
| ag_6001 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = | na | 4.2624 | na |
| ag_6001 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = | na | 12 | na |
| ag_6001 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = | na | 3.4599 | na |
| ag_6002 | 3 | Kamma | Argillic+Propylitic+Silicic | N = | na | 18 | na |
| ag_6002 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = | na | 5.3505 | na |
| ag_6002 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = | na | 11.8884 | na |
| ag_6002 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = | na | 2.9268 | na |
| ag_6003 | 34 | Kamma | Argillic+Propylitic+Silicic | N = | na | 18 | na |
| ag_6003 | 34 | Kamma | Argillic+Propylitic+Silicic | Mean = | na | 8.8920 | na |
| ag_6003 | 34 | Kamma | Argillic+Propylitic+Silicic | Max = | na | 26.8903 | na |
| ag_6003 | 34 | Kamma | Argillic+Propylitic+Silicic | Std = | na | 9.1648 | na |
| ag_6004 | 3 | Kamma | Argillic+Propylitic+Silicic | N = | na | 12 | na |
| ag_6004 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = | na | 6.6931 | na |
| ag_6004 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = | na | 15 | na |
| ag_6004 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = | na | 4.9057 | na |
| ag_6005 | 34 | Kamma | Argillic+Propylitic+Silicic | N = | na | 12 | na |
| ag_6005 | 34 | Kamma | Argillic+Propylitic+Silicic | Mean = | na | 4.2462 | na |
| ag_6005 | 34 | Kamma | Argillic+Propylitic+Silicic | Max = | na | 8 | na |
| ag_6005 | 34 | Kamma | Argillic+Propylitic+Silicic | Std = | na | 2.4865 | na |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 116

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistics Summary for Composites** | **Statistics Summary for Composites** |
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistic** | **Ag oz/ton** |
| ag_6006 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 15 na |
| ag_6006 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 7.7032 na |
| ag_6006 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 18.3126 na |
| ag_6006 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 5.1522 na |
| ag_6007 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 25 na |
| ag_6007 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 5.3803 na |
| ag_6007 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 11.1771 na |
| ag_6007 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 3.2084 na |
| ag_6008 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 23 na |
| ag_6008 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 4.5142 na |
| ag_6008 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 13.0085 na |
| ag_6008 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 3.5674 na |
| ag_6009 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 34 na |
| ag_6009 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 8.9273 na |
| ag_6009 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 25 na |
| ag_6009 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 6.6283 na |
| ag_6010 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 40 na |
| ag_6010 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 6.0614 na |
| ag_6010 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 20 na |
| ag_6010 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 5.3179 na |
| ag_6011 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 22 na |
| ag_6011 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 4.3523 na |
| ag_6011 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 8 na |
| ag_6011 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 1.656 na |
| ag_6012 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 29 na |
| ag_6012 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 5.9920 na |
| ag_6012 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 18.645 na |
| ag_6012 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 5.5774 na |
| ag_7001 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 79 na |
| ag_7001 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 25.4563 na |
| ag_7001 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 157.5105 na |
| ag_7001 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 36.8384 na |
| ag_7002 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 14 na |
| ag_7002 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 4.8935 na |
| ag_7002 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 15 na |
| ag_7002 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 4.3965 na |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 117

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistics Summary for Composites** | **Statistics Summary for Composites** |
| **Domain Number** | **Structure Block Code** | **Lithology** | **Alteration** | **Statistic** | **Ag oz/ton** |
| ag_7004 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 11 na |
| ag_7004 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 11.0018 na |
| ag_7004 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 52.5782 na |
| ag_7004 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 18.7548 na |
| ag_7005 | 3 | Kamma | Argillic+Propylitic+Silicic | N = na | 8 na |
| ag_7005 | 3 | Kamma | Argillic+Propylitic+Silicic | Mean = na | 4.5161 na |
| ag_7005 | 3 | Kamma | Argillic+Propylitic+Silicic | Max = na | 6.2646 na |
| ag_7005 | 3 | Kamma | Argillic+Propylitic+Silicic | Std = na | 1.4602 na |

---

**Table 11-10: Basic Statistics of 25 ft Sulfide Composites by Sulfide Domain**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sulfide Domain Number** | **Structure Blocks** | **Lithology** | **Alteration** | **Basic Statistics of 25ft Composites** | **Basic Statistics of 25ft Composites** |
| 1 | All | All | Acid Leach | N = | 319 |
| 1 | All | All | Acid Leach | Mean = | 1.94 |
| 1 | All | All | Acid Leach | Max = | 12.00 |
| 1 | All | All | Acid Leach | Std = | 2.36 |
| 2 | 3456 | All | All | N = | 8544 |
| 2 | 3456 | All | All | Mean = | 1.54 |
| 2 | 3456 | All | All | Max = | 28.00 |
| 2 | 3456 | All | All | Std = | 1.45 |
| 4 | 125 | All | All | N = | 4623 |
| 4 | 125 | All | All | Mean = | 1.82 |
| 4 | 125 | All | All | Max = | 26.20 |
| 4 | 125 | All | All | Std = | 1.14 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 118

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.13 Variography

Variograms were prepared and analyzed by mineralized domain during earlier mineral resource work. The guidance for search orientation and distance that was developed from that work has been applied to the grade assignment techniques applied to this model. A few illustrative variograms have been prepared using the database and domain boundaries applied to this model to provide support to the selected search parameters.

**Figure 11-6: Gold Variograms for Silicic Material Between the Central Fault and East Fault**

Source: IMC, 2023

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 119

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-7: Gold Variograms for Silicic Material Between the Range Fault and Central Fault**

![](ex_047.jpg)

Source: IMC, 2023

11.14 Block
 Grade Estimation

Block grade estimation was broken into four groups of estimates: gold, silver, cnratau, sulfide-sulfur. The boundaries and controls on each of the four were different as might be expected with the differences in geologic occurrence in each case.

11.14.1 Gold

Gold estimations utilized the 22 domains defined previously. Those domain boundaries were treated as "hard" boundaries during estimation. The estimation used the 40 ft composites noted earlier and inverse distance cubed (1/d<sup>3</sup>) as the estimation method. Search parameters are provided on Table 11-11.

The grade estimation used a maximum of ten composites with a maximum of three composites from one hole. A single composite could be used to assign a block grade, but that grade would be considered as inferred category (Class is discussed later in this section).

Test runs of ordinary kriging have been applied in previous models. The intent of selecting the inverse distance method was to develop a better planning model with less smoothing during block estimation and to provide an estimate of block values that would be predictive of actual mine head grades once appropriate mining cutoffs were applied.

Block gold grade estimation was done in two estimation passes:

1. Block
 grades were estimated without the 1982 to 1987 drilling, applying the methods described here
 in text.

2. The
 mineral resource classes of Measured, Indicated, and Inferred were established without the
 use of the 1982-1987 data.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 120

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

A second pass of gold block grade estimation was made incorporating the 1982 to 1987 data after the bias correction of 0.56 was applied. Any blocks that were added in addition to those in Step 1 above were coded as Inferred.

11.14.2 Silver

Silver utilized the 38 domains defined previously. Those domain boundaries were treated as "hard" boundaries during estimation. As discussed earlier, silver composites were broken by domain boundaries where high-grade silver mineralization occurs, the composites are set to 10ft length inside the high-grade domains and 40 ft and outside of the high-grade zones. Silver was estimated using inverse distance cubed (1/d<sup>3</sup>) methodology.

The estimation strategy within the high-grade domains used a three-pass approach incorporating a small ellipse in the first pass and a larger ellipse in the subsequent passes. Outside of the high-grade domains, the estimation used a one pass approach. Search parameters are provided on Table 11-11.

Two domains that are not inside the high-grade structures, incorporated a high-grade search limit where composites above a certain grade were capped again beyond a specified search distance. This process includes the high-grade values but limits their extent to minimize high-grade smearing over neighboring low-grade values.

Table 11-11: Grade Estimation Parameters for Au, Ag

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Variable** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Directions**<br> **(°)** | **Ellipsoid Directions**<br> **(°)** | **Ellipsoid Directions**<br> **(°)** | **Composite Counts** | **Composite Counts** | **Drill Hole Limit** |
| **Domain** | **Variable** | **Max** | **Interm** | **Min** | **Dip** | **Dip Azimuth** | **Pitch** | **Min** | **Max** | **Max per** |
| Alluvium | Au | 150 | 150 | 25 | 0 | 270 | 0 | 1 | 10 | 3 na |
| Alluvium | Ag | 150 | 150 | 25 | 0 | 270 | 0 | 1 | 10 | 3 na |
| TSG_seds | Au | 270 | 270 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| TSG_seds | Ag | 270 | 270 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| auld lang syne | Au | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 na |
| auld lang syne | Ag | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 na |
| acid leach | Au | 270 | 270 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| acid leach | Ag | 270 | 270 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_1_arg_prop | Au | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_1_arg_prop | Ag | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_1_silicic | Au | 300 | 300 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_1_silicic | Ag | 300 | 300 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_1_unaltered | Au | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_1_unaltered | Ag | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| Domain_2_arg_prop | Au | 250 | 250 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| Domain_2_arg_prop | Ag | 250 | 250 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_2_silicic | Au | 300 | 300 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |
| domain_2_silicic | Ag | 300 | 300 | 50 | 0 | 270 | 0 | 1 | 10 | 3 na |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 121

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Variable** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Directions**<br> **(°)** | **Ellipsoid Directions**<br> **(°)** | **Ellipsoid Directions**<br> **(°)** | **Composite Counts** | **Composite Counts** | **Drill Hole Limit** | **HG Restrictions** | **HG Restrictions** |
| **Domain** | **Variable** | **Max** | **Interm** | **Min** | **Dip** | **Dip Azimuth** | **Pitch** | **Min** | **Max** | **Max per** | **opt** | **Search Limit (ft)** |
| domain_2_unaltered | Au | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_2_unaltered | Ag | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_3_arg_prop | Au | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_3_arg_prop | Ag | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | 20 | 50 |
| domain_3_silicic | Au | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_3_silicic | Ag | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | 20 | 50 |
| domain_3_unaltered | Au | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_3_unaltered | Ag | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_4_arg_prop | Au | 250 | 250 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_4_arg_prop | Ag | 250 | 250 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_4_silicic | Au | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_4_silicic | Ag | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_4_unaltered | Au | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_4_unaltered | Ag | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_5_arg_prop | Au | 250 | 250 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_5_arg_prop | Ag | 250 | 250 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_5_silicic | Au | 300 | 300 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_5_silicic | Ag | 300 | 300 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_5_unaltered | Au | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_5_unaltered | Ag | 150 | 150 | 50 | 0 | 270 | 0 | 1 | 10 | 3 | na | na |
| domain_6_arg_prop | Au | 250 | 250 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_6_arg_prop | Ag | 250 | 250 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_6_silicic | Au | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_6_silicic | Ag | 300 | 300 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_6_unaltered | Au | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| domain_6_unaltered | Ag | 150 | 150 | 50 | 40 | 285 | 0 | 1 | 10 | 3 | na | na |
| ag_6001 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 | na | na |
| ag_6001 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 | na | na |
| ag_6001 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na | na | na |
| ag_6002 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 | na | na |
| ag_6002 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 | na | na |
| ag_6002 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na | na | na |
| ag_6003 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 | na | na |
| ag_6003 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 | na | na |
| ag_6003 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na | na | na |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 122

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Variable** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Ranges**<br> **(m)** | **Ellipsoid Directions**<br> **(°)** | **Ellipsoid Directions**<br> **(°)** | **Ellipsoid Directions**<br> **(°)** | **Composite Counts** | **Composite Counts** | **Drill Hole Limit** |
| **Domain** | **Variable** | **Max** | **Interm** | **Min** | **Dip** | **Dip Azimuth** | **Pitch** | **Min** | **Max** | **Max per** |
| ag_6004 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6004 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6004 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6005 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6005 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6005 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6006 | pass 1 | 120 | 60 | 30 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_6006 | pass 2 | 180 | 90 | 45 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_6006 | pass 3 | 240 | 120 | 60 | 50 | 300 | 90 | 1 | 12 | na |
| ag_6007 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6007 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6007 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6008 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6008 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6008 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6009 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6009 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6009 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6010 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6010 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6010 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6011 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6011 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6011 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_6012 | pass 1 | 120 | 60 | 30 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6012 | pass 2 | 180 | 90 | 45 | 20 | 270 | 90 | 2 | 12 | 2 na |
| ag_6012 | pass 3 | 240 | 120 | 60 | 20 | 270 | 90 | 1 | 12 | na |
| ag_7001 | pass 1 | 120 | 60 | 30 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7001 | pass 2 | 180 | 90 | 45 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7001 | pass 3 | 240 | 120 | 60 | 50 | 300 | 90 | 1 | 12 | na |
| ag_7002 | pass 1 | 120 | 60 | 30 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7002 | pass 2 | 180 | 90 | 45 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7002 | pass 3 | 240 | 120 | 60 | 50 | 300 | 90 | 1 | 12 | na |
| ag_7004 | pass 1 | 120 | 60 | 30 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7004 | pass 2 | 180 | 90 | 45 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7004 | pass 3 | 240 | 120 | 60 | 50 | 300 | 90 | 1 | 12 | na |
| ag_7005 | pass 1 | 120 | 60 | 30 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7005 | pass 2 | 180 | 90 | 45 | 50 | 300 | 90 | 2 | 12 | 2 na |
| ag_7005 | pass 3 | 240 | 120 | 60 | 50 | 300 | 90 | 1 | 12 | na |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 123

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.14.3 Cyanide
 Ratio

About 75% of the assay database for fire gold was also assayed for cyanide soluble gold. The cyanide soluble assay is a direct indication of the cyanide amenability of the mineralized material to gold and silver recovery by cyanidation. Much of the upper portion of the deposit received cyanide soluble assays for gold and silver.

CnAu/FaAu was used to indicate cyanide amenability. The ratio, where it is available, can be interpreted as an indication of oxidation that has occurred in the rock mass.

The domains selected for gold and silver mineralization (previously shown in Table 11-4) reflect the original hydrothermal mineralization. The cyanide ratio however reflects the oxidation process as a secondary impact.

A review of cross-sections of the cyanide ratio data indicated two populations of cnratau:

1. A
 generally horizontal band near topography reflecting surface water and oxidation that looks
 like a conventional oxidation blanket.

2. Isolated
 values at depth that likely reflect oxidation downward along structure with limited later
 extent.

To estimate cnratau, a boundary was developed between the upper oxide blanket and the lower structural controlled oxidation. This was completed by visual analysis of cnratau cross-sections.

The boundary surface was defined as a horizontal plane on the 4,000 ft. elevation from the eastern edge of the model to the 19,000 East line. From there the surface trends upward to the 4,400 ft. elevation at the 21,000 East line. From 21,000 east to the east edge of the model, the 4400 ft. elevation is applied. Blocks above the surface were coded with a value of 1 in a variable called "Contrat". Blocks below the surface were coded with a Contrat value of 2.

Table 11-12 summarizes the parameters used to estimate the cnratau within each block. Once the ratio was assigned, block values of cyanide soluble Au could be calculated where required. Composite requirements: max =10, min =1, max per hole =3.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 124

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-12: Estimation Parameters for Cyanide Ratio, All Three Domains utilized 1/D<sup>3</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cn Ratio Domain "Contrat"** | **Structure Block Code** | **Description** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** | **Parameters Applied to 40 ft Composites** |
| **Cn Ratio Domain "Contrat"** | **Structure Block Code** | **Description** | **Variable** | **Orientation, Degrees** | **Orientation, Degrees** | **Orientation, Degrees** | **Search Radii, Ft.** | **Search Radii, Ft.** | **Search Radii, Ft.** | **Maximum Composites per Drillhole** |
| **Cn Ratio Domain "Contrat"** | **Structure Block Code** | **Description** | **Variable** | **Dip Dir** | **Plunge** | **Rotation** | **Prim** | **Second** | **Perpend** | **Maximum Composites per Drillhole** |
| 1 | All | Near Surface Oxidation | cnratau | 0 | 0 | 0 | 700 | 700 | 50 | 3 |
| 2 | 346 | Structural Oxidation, East of Central Fault | cnratau | 285 | -40 | 0 | 150 | 150 | 50 | 3 |
| 3 | 1235 | Structural Oxidation, West of Central Fault | cnratau | 270 | -90 | 0 | 150 | 150 | 50 | 3 |

---

11.14.4 Sulfide
 Sulfur

Sulfide sulfur was estimated to provide an improved localized cost for concentrate processing. The cost of concentrate processing is dependent on the amount of sulfide sulfur in the mill feed. The current POX process has been adjusted to match the full range of sulfide sulfur found in the flotation concentrate. Most of the sulfide sulfur is in the form of pyrite. Pyrite exists everywhere throughout the deposit, including in the oxidized portion. In particular, the acid leach alteration type contains native sulfur which also reports to the LECO assay method for sulfide sulfur.

The presence of sulfide sulfur is not impacted by the oxidation state or rock type. Population tests indicate that the only independent population is the acid leach alteration. The dip orientation for the estimation parameters was, however, adjusted based on structure.

The sulfide sulfur LECO data was performed on selected drillholes. The sulfide sulfur block grades were estimated from the 25 ft composite LECO data as described in previous sections. Composite counts were a maximum of 10, minimum of 1 with a maximum of 3 composites per drill hole.

Table 11-13 summarizes the estimation parameters used to assign sulfide sulfur to the model blocks.

Table 11-13: Sulfide Sulfur Estimation Parameters, All Three Domains Utilized 1/D<sup>3</sup>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Structure Block Code** | **Description** | **Variable** | **Orientation, Degrees** | **Orientation, Degrees** | **Orientation, Degrees** | **Search Radii, ft** | **Search Radii, ft** | **Search Radii, ft** |
| **Structure Block Code** | **Description** | **Variable** | **Dip Dir** | **Plunge** | **Rotation** | **Prim** | **Second** | **Perpend** |
| All | Acid Leach Alteration | Sulfd | 0 | 0 | 0 | 650 | 650 | 200 |
| 346 | East of Central Fault | Sulfd | 285 | -40 | 0 | 650 | 650 | 200 |
| 1235 | West of Central Fault | Sulfd | 0 | 0 | 0 | 650 | 650 | 200 |

---

Due to the low number of sulfide sulfur composites, default values were assigned based on alteration type to those blocks without estimated sulfide sulfur. Sulfide sulfur can be an input to project cost so leaving blocks un-estimated would underestimate project costs.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 125

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The default values were assigned as follows in Table 11-14. Default values were assigned to blocks that did not receive a sulfide sulfur value from the estimation process.

In the development of the POX process, reagent consumption and power costs were consistent across the range of sulfide sulfur levels identified. Therefore, a fixed value could be applied to the operating costs.

Table 11-14: Sulfide Sulfur Default Values if Not Estimated

---

| | |
|:---|:---|
| **Description** | **Default Sulfide Sulfur %** |
| Acid Leach | 1.7167 |
| Argillic | 1.5226 |
| Silicic | 1.8335 |
| Propylitic | 1.1057 |
| Unaltered | 0.782 |

---

11.14.5 Density

Bulk density was assigned to in-situ rock based on density data collected by Hycroft and their predecessors. Average density values were set based on alteration type within the hard or in-situ units. The exception was the ALS rock type which was assigned a single value not impacted by alteration.

Alluvium, back fill, and stockpiles were guided by the few test values available but were generally based on the density values assigned to an earlier block model completed in 2019. Table 11-15 summarizes the densities assigned to the model.

---

| | |
|:---|:---|
| Table 11-15: | <br> **Density Assigned to the Block Model** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Specific Gravity** | **lbs/ft Cu** | **Ktons per Model Block** |
| Acid Leach | 2.2654 | 141.424 | 4.5256 |
| Argillic | 2.2094 | 137.928 | 4.4137 |
| Silicic | 2.5055 | 156.413 | 5.0052 |
| Propylitic | 2.3193 | 144.789 | 4.6333 |
| Alluvium | 1.7808 | 111.172 | 3.5575 |
| Auld Lang Syne | 2.652 | 165.559 | 5.2979 |
| Unassigned Blocks | 2.3193 | 144.789 | 4.6333 |
| **Stockpile** | **Specific Gravity** | **lbs/ft Cu** | **Ktons per Block** |
| 100 | 1.6026 | 100.047 | 3.2015 |
| 101, 102, 103, 104, 105, 106 | 1.7049 | 106.433 | 3.4059 |
| 120 (Crofoot Leach Pad) | 2.0000 | 124.856 | 3.9954 |

---

11.14.6 Stockpile
 Grade Estimation

The Hycroft pits have incurred both backfilling and in-pit stockpiling. Potential sulfide mill feed that has been incurred during the mining of oxide heap leach ores have been stockpiled. That material is a potential future mill feed to a sulfide processing facility.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 126

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Hycroft developed interpreted solids based on survey data of the stockpiles.

Some of the stockpiles at Hycroft have been drilled by Sonic drilling and RC sampling methods. The grade of those stockpiles that contained stockpile drilling were assigned with the assays from those holes. Stockpiles that were estimated all used a search of 600 x 600 x 200 ft and 1/D1 methods to estimate Au, Ag, Sulfide Sulfur and cnratau. Densities were assigned as summarized in the previous sub-section. Where there were no stockpile drilling assays, average tonnage and grade of each stockpile based on the blast hole grade control information was used.

Blocks were assigned stockpile codes as summarized in Table 11-16.

Table 11-16: Stockpiles Assigned Grades by Inverse Distance Estimation

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Stockpile Codes** | **Location** | **Location** | **Location** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** | **Variables Estimated by 1/D1** |
| **Stockpile Codes** | **Location** | **Location** | **Location** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** | **Au, Ag, Sulfide Sulfur, CnAu/FaAu Ratio** |
| **Stockpile Codes** | **Location** | **Location** | **Location** | **Dip Dir** | **Plunge** | **Plunge** | **Rotation** | **Rotation** | **Prim** | **Second** | **Second** | **Perpend** |
| 101 | Brimstone Stockpile 1 | Brimstone Stockpile 1 | Brimstone Stockpile 1 | 0 | 90 | 90 | 0 | 0 | 600 | 600 | 600 | 200 |
| 102 | Brimstone Stockpile 2 | Brimstone Stockpile 2 | Brimstone Stockpile 2 | 0 | 90 | 90 | 0 | 0 | 600 | 600 | 600 | 200 |
| 104 | Central Stockpile 1 | Central Stockpile 1 | Central Stockpile 1 | 0 | 90 | 90 | 0 | 0 | 600 | 600 | 600 | 200 |
| 120 | Crofoot Leach Pad | Crofoot Leach Pad | Crofoot Leach Pad | 0 | 90 | 90 | 0 | 0 | 600 | 600 | 600 | 200 |
| **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** | **Stockpile Grades Assigned by Hycroft Production History** |
| **Stockpile Codes** | **Stockpile Codes** | **Location** | **Au oz/ton** | **Au oz/ton** | **Au oz/ton** | **Ag oz/ton** | **Ag oz/ton** | **Sulfide Sulfur %** | **Sulfide Sulfur %** | **Sulfide Sulfur %** | **CnAu/FaAu Ratio** | **CnAu/FaAu Ratio** |
| 100 | 100 | General Fill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 103 | 103 | Brimstone Stockpile 3 | 0.0148 | 0.0148 | 0.0148 | 0.6514 | 0.6514 | 2.51 | 2.51 | 2.51 | 0.2 | 0.2 |
| 105 | 105 | Central Stockpile 2 | 0.0131 | 0.0131 | 0.0131 | 0.2308 | 0.2308 | 1.89 | 1.89 | 1.89 | 0.25 | 0.25 |
| 106 | 106 | Gyro Stockpile | 0.019 | 0.019 | 0.019 | 0.848 | 0.848 | 2.97 | 2.97 | 2.97 | 0.18 | 0.18 |
| 120 | 120 |  | - | - | - | - | - | 1.74 | 1.74 | 1.74 | - | - |

---

Note: No sulfide sulfur data exists for the Crofoot Leach Pad (120) so a default value was assigned for processing costs

The Crofoot leach pad (code 120) was assigned an inferred confidence classification. All other graded stockpiles were assigned an Indicated confidence classification.

11.14.7 Treatment
 of 1982 – 1987 Data

The observed high bias with the 1982 – 1987 data was discussed and illustrated in Section 9. Half of the 1982-1987 data have been historically mined out. The 1982-1987 drill data was included using the following steps:

1. The
 procedures described in the previous sub-sections and in Section 11.15 regarding classification
 were first completed using the drill hole composites that had excluded the 1982 to 1987 drill
 data.

2. Once
 completed, the block gold grades and the block class codes were stored in separate variables.

3. The
 1982-1987 composite data was corrected for potential high bias by multiplying each composite
 by a factor of 0.56, based on the nearest neighbor comparison to post 2005 data described
 in Section 9.

4. The
 gold estimation procedure was repeated using the identical parameters as described in the
 previous sub-sections and in item 1 above.

5. Any
 additional blocks that were estimated in pass 2 were added to the gold grade and coded as
 "inferred."

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 127

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The procedure outlined above did not change the gold block grade of the blocks estimated in pass 1 without the 1982-1987 data. It was not necessary to update the silver because there were no silver assays within the 1982-1987 data.

11.15 Classification

Individual blocks in the model were assigned classification codes as defined within S-K 1300. As noted earlier, the stockpiles were assigned classification codes of 2 for Indicated class and the Crofoot leach pad was assigned a code of 3 for inferred.

The in-situ rock values were assigned classification codes based on the inverse distance estimation of Au. During that estimation process, the number of composites that were used to estimate the block was stored along with the distance between the block and the closest composite. Those two parameters were used to assign classification code in the following manner to blocks estimated without the 1982-1987 data.

If closest distance <= 125 ft and number of composites = 10, Class = 1 Measured

Else

If closest distance <=225 ft and number of composites >=4, Class = 2 Indicated

Otherwise

Remaining Estimated Blocks Class = 3 Inferred

After the above coding was complete, the additional blocks that resulted from inclusion of the bias corrected 1982-1987 data were coded as inferred.

As noted in Section 11.14.4 sulfide sulfur information is limited in number compared to gold and silver assays. The confidence procedures that are described in the previous paragraph are to be applied to metallurgical processes that utilize sulfide sulfur to estimated process cost such as POX. Default assignments of sulfide sulfur to blocks with estimated gold and silver are appropriate for cost estimation.

The previous paragraphs discuss several items of uncertainty in the database that have caused components of the mineralization to be classified as inferred. There is indication that those inferred components are mineralized, but the uncertainty in the data or lack of data contributes to an inferred level of grade estimation.

Measured mineralization has a sound level of reliability due to the close spacing (125 ft) and large number of samples contributing to the grade estimates. Indicated level is slightly more uncertain than measured due to the wider spacing of the data and fewer number of samples used for estimation. The definitions of measured, indicated, and inferred are consistent with the definitions within SK-1300.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 128

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Figure 11-8 is a cross-section showing the classification for Hycroft resources.

**Figure 11-8: E-W Cross-section at 41000-N, Showing Confidence Codes**

Note: Red (1) = Measured, Green (2) = Indicated, Blue (3) = Inferred. Source: Hycroft, 2025

11.16 Model
 Verification

The block model was verified by several methods before being used to determine mineral resources:

● Detailed
 Visual Checks of Drilling versus Block Estimates.

● A
 Bias Check for Each Domain.

● Swath
 Plots.

● IMC
 Smear Check.

The visual check of the block model is one of the most useful and informative processes that was used to confirm the practicality of the block model. IMC completed visual checks on plan and section for all the estimated variables in the model. In addition to IMC visual checks, the Hycroft engineering and geology team on site have also reviewed the model.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 129

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Figure 11-9 and Figure 11-10 are cross sections through the block model with drilling as visual checks.

**Figure 11-9: E-W Cross-section at 41000-N, Visual Check of Gold Grades in Drillholes and Block Model**

Note: Warmer Colors are Higher Grade. Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 130

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-10: E-W Cross-section at 41000-N, Visual Check of Silver Grades in Drillholes and Block Model**

Note: Warmer Colors are Higher Grade. Source: Hycroft, 2025

11.16.1 Swath
 Plots

Hycroft produced comparative statistics, including inverse distance cubed (ID<sup>3</sup>), nearest neighbor ("NN") and inverse distance squared (ID<sup>2</sup>) estimations, and swath plots for all deposits. Swath plots provide a visual indication if the block model follows the grade trends indicated by the supporting data and if there is any observable local bias in the block grade estimation The swath plots produced generally demonstrated good correlation, with block grades being somewhat smoothed relative to composite grades, as expected.

Figure 11-11 is an example for the swath plots in the X and Y (model east and north) directions across the deposit for the gold estimation. Figure 11-12 and Figure 11-13 illustrate the same swath plots for silver and sulfide sulfur respectively.

The green histogram represents the volume of estimated blocks within the resource pit for each 160 ft slice of the model.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 131

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-11: Swath Plots for Gold, X = East and Y = North Slices, 160 ft Wide Slices**

![](ex_051.jpg)

![](ex_052.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 132

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-12: Swath Plots for Silver, X = East and Y = North Slices, 160 ft Slices**

![](ex_053.jpg)

![](ex_055.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 133

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Figure 11-13: Swath Plots for Sulfide Sulfur, X = East and Y = North Slices, 160 ft Slices**

![](ex_056.jpg)

![](ex_057.jpg)

Source: Hycroft, 2025

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 134

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

11.16.2 Smear
 Check

IMC used a simple test to understand the amount of grade smoothing within the block model and to confirm that the model grades are not high biased. The test is referred to internally as the "smear check."

The procedure is as follows:

● A
 range of cutoff grades are selected for the check process. Typically, they bracket the potential
 planning cutoff grades.

● For
 each cutoff grade being tested, the blocks above cutoff are identified.

● All
 composites contained within those blocks are identified.

● Average
 grade of the composites and blocks are tabulated.

● Percentage
 of the contained composites less than cutoff are calculated.

Table 11-17 summarizes the results for both Au and Ag in-situ rock. Stockpiles and stockpile drillholes have been removed from this analysis. In all cases, the model mean grade is less than or equal to the mean grade of the contained composites. This is because the block estimate also draws from composites that are outside of the test shape.

Less than cutoff, is indicative of the amount of averaging or "smearing" of grade that has occurred in the estimation process. Ideally this value should be less than about 10 to 15% in the range of cutoff grades. The gold and sulfide sulfur responses meet these criteria over a range of the deposit grades.

Table 11-17: IMC Smear Check

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Cutoff Grade** | **% Comps Less than Cutoff** | **Number of Comps In Shape** | **Composite Grade oz/ton** | **Number of Blocks in Shape** | **Model Grade oz/ton** |
| **Au Composites vs Model Au** | **Au Composites vs Model Au** | **Au Composites vs Model Au** | **Au Composites vs Model Au** | **Au Composites vs Model Au** | **Au Composites vs Model Au** |
| 0.002 | 6.24 | 24464 | 0.009 | 673328 | 0.008 |
| 0.003 | 7.31 | 22073 | 0.010 | 585073 | 0.009 |
| 0.004 | 9.10 | 20000 | 0.010 | 511894 | 0.009 |
| 0.005 | 11.54 | 17758 | 0.011 | 445637 | 0.010 |
| 0.006 | 13.39 | 15577 | 0.012 | 380290 | 0.011 |
| 0.007 | 15.08 | 13349 | 0.013 | 318446 | 0.012 |
| 0.008 | 15.84 | 11331 | 0.014 | 262200 | 0.013 |
| 0.009 | 18.36 | 9446 | 0.015 | 213726 | 0.014 |
| 0.010 | 20.04 | 7830 | 0.016 | 171559 | 0.015 |
| **Ag Composites vs Model Ag** | **Ag Composites vs Model Ag** | **Ag Composites vs Model Ag** | **Ag Composites vs Model Ag** | **Ag Composites vs Model Ag** | **Ag Composites vs Model Ag** |
| 0.100 | 15.52 | 16074 | 0.353 | 500629 | 0.302 |
| 0.200 | 21.81 | 8259 | 0.531 | 221681 | 0.505 |
| 0.300 | 25.83 | 4916 | 0.729 | 122015 | 0.720 |
| 0.400 | 27.16 | 3328 | 0.934 | 80459 | 0.914 |
| 0.500 | 28.17 | 2446 | 1.076 | 57512 | 1.100 |
| 0.600 | 29.70 | 1943 | 1.217 | 43761 | 1.274 |
| **Sulfide Sulfur Composites vs Model, Default Values Removed from Analysis** | **Sulfide Sulfur Composites vs Model, Default Values Removed from Analysis** | **Sulfide Sulfur Composites vs Model, Default Values Removed from Analysis** | **Sulfide Sulfur Composites vs Model, Default Values Removed from Analysis** | **Sulfide Sulfur Composites vs Model, Default Values Removed from Analysis** | **Sulfide Sulfur Composites vs Model, Default Values Removed from Analysis** |
| 0.25 | 4.73 | 11813 | 1.86 | 792323 | 1.78 |
| 0.50 | 3.28 | 10887 | 1.98 | 758989 | 1.85 |
| 1.00 | 4.99 | 9547 | 2.15 | 670013 | 1.99 |
| 1.50 | 8.07 | 7773 | 2.34 | 532655 | 2.18 |
| 2.00 | 13.61 | 4181 | 2.87 | 272917 | 2.56 |

---

Note: Below End 2021 Topography, Without stockpile blocks or drilling, and without data from 1982 through 1987 Drilling. The silver check does not include the vein domains

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 135

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Silver grade responses at 0.20 oz/ton and above indicate a modeled mineralized zone will have 22 to 29% of the composite values inside the modeled shape that are less than the cutoff shape. Although not ideal, the result for silver is acceptable.

As an additional test on silver, the blocks within the mineral resource pit with positive economic value were averaged to determine their average silver grade. The average of all composites was identified within the same envelope. The statistical mean of the resource containing silver composites is 0.55 oz/ton after capping. The average silver grade of the resource blocks is 0.32 oz/ton. The result indicates that the observed grade smearing in silver is not overestimating the contained silver in the mineral resource.

11.17 Mineral
 Resource Estimate

The mineral resource at the Hycroft property is currently envisioned to be produced from a conventional hard rock open pit mine feeding two alternative process facilities:

1. ROM
 cyanide heap leach, producing gold and silver doré.

2. Flotation
 milling followed by POX of the concentrate to make a gold and silver doré.

The terms of reference for this estimate of mineral resources are mineralization in-place. The procedures described in the following paragraphs establish that the stated mineral resources have reasonable prospects of economic extraction.

Mineral resources were developed using the block model and pit optimization software to determine mineralization with reasonable expectation of economic extraction as defined by S-K 1300. The optimization software compares the cost of production versus the benefit of metal sales to develop an estimated open pit geometry. The pit walls of the resulting pit are at breakeven economics where costs equal benefits.

The cutoff grade that is reported for this statement of mineral resources is based on the estimated costs and metal prices on Table 11-18. The internal or marginal cutoff is applied and reported where the benefits of selling the recovered metal will pay for the processing and fixed general and administrative ("G&A") costs.

Table 11-18 summarizes the economic and recovery parameters that were used to define the pit that established the Mineral Resource. The process costs were developed by Ausenco and Hycroft based on recent cost estimation. Mine operating cost estimates were developed by IMC by scaling from preliminary mine planning and cost estimation completed during early 2022.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 136

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The cutoff grade is presented in terms of Income Net of Refining sometimes abbreviated as NSR. A marginal or internal cutoff grade is consequently $0.01/ton. An estimate of the Net of Process value is also provided in terms of Equivalent Gold Grade. Metal prices for the Mineral Resource were $3,100 /oz Au, and $36.00/oz Ag. Spot prices for Au and Ag in 2025 ranged from US$2,798 to US$4,323/ oz Au and US$31.34 to US$71.63/ oz Ag respectively. The prices selected for determination of mineral resources are conservative relative to current metal prices and do not include extensive price extrapolation.

The Mineral Resource is presented on Table 11-19 using imperial units and on Table 11-20 in metric units. Mineral Resources are not mineral reserves, and detailed economic considerations have not been applied. Modifying factors for mining and processing have not been applied.

The risks to the Hycroft Mineral Resource are future changes in project costs and project recoveries as well as metal prices that can have a substantial impact on the Mineral Resource. Process recoveries in the grade ranges near the cutoff grades may be less than the recoveries presented on Table 11-18. Additional process testing could result in modifications to the recovery and process costs that could result in reductions in the Mineral Resource.

The categories of measured, indicated, and inferred reflect different drill densities as noted in Section 11.15. Uncertainties in the drill database have been minimized by the following two treatment components of the database:

1. The
 1982 through 1987 drilling and assay data, which appears to be biased, has been corrected
 for bias and incorporated only in the estimation of inferred mineral resources.

2. The
 cyanide soluble silver assays which measure the cyanide amenable silver content have not
 been used in the MRE.

The slope angles input for the pit optimization software was based on work completed by Call & Nicholas Inc, (CNI) completed in February of 2022 with additional documentation in October of 2023. IMC has reviewed these documents and has accepted the slope angle recommendations for use in the development of mineral Resources.

The qualified organization for this Mineral Resource is IMC. IMC holds the opinion that all relevant technical and economic factors likely to influence the project or economic extraction could be resolved with further work and that this statement of Mineral Resources meets the requirements to show reasonable expectation of economic extraction.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 137

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-18: Economic and Technical Parameters for Hycroft Mineral Resource

---

| | |
|:---|:---|
| **Cost Assumptions** | **Cost Assumptions** |
| Mining Cost, Base | $1.65/ton material moved |
| + Bench Incremental Cost Below 4660 | $0.018/ton per bench of depth |

---

---

| | | |
|:---|:---|:---|
| **Categorization of Oxidation Type based on the AuCn/AuFA Ratio =** cnratau | **Categorization of Oxidation Type based on the AuCn/AuFA Ratio =** cnratau | **Categorization of Oxidation Type based on the AuCn/AuFA Ratio =** cnratau |
| Oxide >=0.7 | Transition between 0.3 and 0.7 | Sulfide <=0.3 |

---

---

| | |
|:---|:---|
| **Process Cost for Flotation and POX** | **Process Cost for Flotation and POX** |
| Total Mill Cost for Sulfide and Transition | $16.73/ton of feed to float plant |
| ROM Leach for Oxide, | $1.88/ton of feed to ROM Leach |
| ROM Leach for Transition Sulfide | $3.63/ton of feed to ROM Leach |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Mill Process Recoveries** | **Mill Process Recoveries** | **Mill Process Recoveries** | **Mill Process Recoveries** | **Mill Process Recoveries** | **Mill Process Recoveries** |
| Mill Recoveries | Flotation | POX | Extraction | Total |  |
| Gold | 89.5% | 93.5% | 99.0% | 82.8% | of (AuFA) |
| Silver | 92.9% | 86.0% | 97.0% | 77.5% | of (Total Silver Assay) |

---

---

| | | | |
|:---|:---|:---|:---|
| **ROM Heap Leach Recoveries** | **ROM Heap Leach Recoveries** | **ROM Heap Leach Recoveries** | **ROM Heap Leach Recoveries** |
| ROM Leach Recovery | Oxide | Transition |  |
| Gold | 75.0% | 75.0% | of (AuCn) |
| Silver | 12.2% | 12.2% | of (Total Silver Assay) |

---

---

| | | |
|:---|:---|:---|
| **Refining Recoveries** | **Au** | **Ag** |
| Mill + POX Payable | 99.5% | 99.5% |
| Leach Process Payable | 99.5% | 99.5% |

---

---

| | |
|:---|:---|
| **Doré Transport and Refining Cost** | **Doré Transport and Refining Cost** |
| Gold | $5.00/oz |
| Silver | $0.50/oz |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Metal Price Assumptions** | **Metal Price Assumptions** | **Heap Leach AuCN Cutoffs** | **Heap Leach AuCN Cutoffs** | **Heap Leach AuCN Cutoffs** | **Mill-POX Au Equiv** |
| Gold | Silver | Silver | Internal Cutoff | Internal Cutoff | Internal Cutoff |
| $3,100/oz | $36.00/oz | $36.00/oz | Oxide | 0.0008 oz/ton | 0.0066 oz/t AuEquiv |
| $3,100/oz | $36.00/oz | $36.00/oz | Transition | 0.0016 oz/ton | 0.0066 oz/t AuEquiv |
| Gold Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay<br> Or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver Assay | Gold Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay<br> Or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver Assay | Gold Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay<br> Or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver Assay | Gold Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay<br> Or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver Assay | Gold Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay<br> Or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver Assay | Gold Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay<br> Or at average gold leach recovery AuEq = Fire Gold + 0.0035 Total Silver Assay |
| Gold Equivalent for Flotation + Concentration = Fire Assay Gold + Total Silver Assay x 0.0107 | Gold Equivalent for Flotation + Concentration = Fire Assay Gold + Total Silver Assay x 0.0107 | Gold Equivalent for Flotation + Concentration = Fire Assay Gold + Total Silver Assay x 0.0107 | Gold Equivalent for Flotation + Concentration = Fire Assay Gold + Total Silver Assay x 0.0107 | Gold Equivalent for Flotation + Concentration = Fire Assay Gold + Total Silver Assay x 0.0107 | Gold Equivalent for Flotation + Concentration = Fire Assay Gold + Total Silver Assay x 0.0107 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 138

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-19: Hycroft Mineral Resources as of 21 January 2026, Imperial Units

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade $ Net**<br> **of Refining/ ton** | **Approximate**<br> **Cutoff, AuEq oz/ton** | **Ktons** | **Gold**<br> **oz/ton** | **Silver**<br> **oz/ton** | **Sulfide**<br> **Sulfur%** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade $ Net**<br> **of Refining/ ton** | **Approximate**<br> **Cutoff, AuEq oz/ton** | **Ktons** | **Gold**<br> **oz/ton** | **Silver**<br> **oz/ton** | **Sulfide**<br> **Sulfur%** | **Gold**<br> **Oz x 1000** | **Silver**<br> **Oz x 1000** |
| **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** |
| Measured | $1.88 - $3.63 | 0.001 - 0.002 | 92994 | 0.005 | 0.11 | 1.83 | 446 | 10322 |
| Indicated | $1.88 - $3.63 | 0.001 - 0.002 | 110374 | 0.004 | 0.09 | 1.54 | 475 | 9492 |
| Meas + Ind | $1.88 - $3.63 | 0.001 - 0.002 | 203368 | 0.005 | 0.10 | 1.67 | 921 | 19814 |
| Inferred | $1.88 - $3.63 | 0.001 - 0.002 | 110018 | 0.005 | 0.09 | 1.41 | 528 | 10122 |
| **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** |
| Measured | $16.73 | 0.007 | 734571 | 0.011 | 0.43 | 2.03 | 8154 | 316600 |
| Indicated | $16.73 | 0.007 | 748876 | 0.010 | 0.30 | 1.84 | 7339 | 226161 |
| Meas + Ind | $16.73 | 0.007 | 1483447 | 0.010 | 0.37 | 1.93 | 15493 | 542761 |
| Inferred | $16.73 | 0.007 | 459646 | 0.010 | 0.27 | 1.76 | 4505 | 122725 |
| **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** |
| Measured | $1.88 - $16.73 | 0.001 - 0.007 | 827565 | 0.010 | 0.40 | 2.01 | 8600 | 326922 |
| Indicated | $1.88 - $16.73 | 0.001 - 0.007 | 859250 | 0.009 | 0.27 | 1.80 | 7814 | 235653 |
| Meas + Ind | $1.88 - $16.73 | 0.001 - 0.007 | 1686815 | 0.010 | 0.33 | 1.90 | 16414 | 562575 |
| Inferred | $1.88 - $16.73 | 0.001 - 0.007 | 569664 | 0.009 | 0.23 | 1.69 | 5033 | 132847 |

---

Notes:

1. Mineral
 resources based on metal prices of $3,100/troy oz Au and $36.00/troy oz Ag

2. Cutoffs
 are Income – Refining Cost = NSR

3. Gold
 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 Assay

4. Gold
 Equivalent for Mill + Pressure Oxidation = Fire Gold + 0.0107 x Total Silver Assay

5. Numbers
 may not match exactly due to rounding

6. Mineral
 resources are contained within a computer-generated optimized pit

7. Total
 material in that pit is 5.42 billion tons

8. Mineral
 resources are not mineral reserves, and detailed economic considerations have not been applied

9. Modifying
 factors for mine and process design have not been applied

10. All
 units are imperial. Ktons means 1,000 short tons of 2,000 lbs Au and Ag grades are in troy
 ounces per short ton (oz/ton)

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 139

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-20: Hycroft Mineral Resources as of 21 January 2026, Metric Units

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | <br> **Cutoff Grade $ Net of Refining/ tonne** | **Approximate**<br> **Cutoff, AuEq g/t** | **Ktonnes** | **Gold**<br> **(g/t)** | **Silver**<br> **(g/t)** | **Sulfide**<br> **(%)** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | <br> **Cutoff Grade $ Net of Refining/ tonne** | **Approximate**<br> **Cutoff, AuEq g/t** | **Ktonnes** | **Gold**<br> **(g/t)** | **Silver**<br> **(g/t)** | **Sulfide**<br> **(%)** | **Gold** | **Silver** |
| **Classification** | <br> **Cutoff Grade $ Net of Refining/ tonne** | **Approximate**<br> **Cutoff, AuEq g/t** | **Ktonnes** | **Gold**<br> **(g/t)** | **Silver**<br> **(g/t)** | **Sulfide**<br> **(%)** | **Oz x 1000** | **Oz x 1000** |
| **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** |
| Measured | $2.07 - $4.00 | 0.027 - 0.055 | 84364 | 0.164 | 3.80 | 1.83 | 446 | 10322 |
| Indicated | $2.07 - $4.00 | 0.027 - 0.055 | 100131 | 0.147 | 2.95 | 1.54 | 475 | 9492 |
| Meas + Ind | $2.07 - $4.00 | 0.027 - 0.055 | 184495 | 0.155 | 3.34 | 1.67 | 921 | 19814 |
| Inferred | $2.07 - $4.00 | 0.027 - 0.055 | 99808 | 0.164 | 3.15 | 1.41 | 528 | 10122 |
| **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** |
| Measured | $18.44 | 0.206 | 666403 | 0.380 | 14.76 | 2.03 | 8154 | 316600 |
| Indicated | $18.44 | 0.206 | 679380 | 0.336 | 10.34 | 1.84 | 7339 | 226161 |
| Meas + Ind | $18.44 | 0.206 | 1345783 | 0.358 | 12.53 | 1.93 | 15493 | 542761 |
| Inferred | $18.44 | 0.206 | 416991 | 0.336 | 9.14 | 1.76 | 4505 | 122725 |
| **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** | **Combined Mineral Resources, Leach Plus Mill** |
| Measured | $2.07 - $18.44 | 0.027 - 0.206 | 750767 | 0.356 | 13.53 | 2.01 | 8600 | 326922 |
| Indicated | $2.07 - $18.44 | 0.027 - 0.206 | 779512 | 0.311 | 9.39 | 1.80 | 7814 | 235653 |
| Meas + Ind | $2.07 - $18.44 | 0.027 - 0.206 | 1530279 | 0.333 | 11.42 | 1.90 | 16414 | 562575 |
| Inferred | $2.07 - $18.44 | 0.027 - 0.206 | 516799 | 0.303 | 7.99 | 1.69 | 5033 | 132847 |

---

Notes:

&nbsp;&nbsp;&nbsp;&nbsp;1. Mineral
 resources based on metal prices of $3,100/ oz Au and $36.00/ oz Ag

&nbsp;&nbsp;&nbsp;&nbsp;2. Cutoffs
 are Income – Refining Cost = NSR

&nbsp;&nbsp;&nbsp;&nbsp;3. Gold
 Equivalent for Heap Leach = Cyanide Gold + 0.0019 x Total Silver Assay

&nbsp;&nbsp;&nbsp;&nbsp;4. Gold
 Equivalent for Mill + Pressure Oxidation = Fire Gold + 0.0107 x Total Silver Assay

&nbsp;&nbsp;&nbsp;&nbsp;5. Numbers
 may not match exactly due to rounding

&nbsp;&nbsp;&nbsp;&nbsp;6. Mineral
 resources are contained within a computer-generated optimized pit

&nbsp;&nbsp;&nbsp;&nbsp;7. Total
 material in that pit is 4.92 billion tonnes

&nbsp;&nbsp;&nbsp;&nbsp;8. All
 units on this table are metric: Ktonnes means 1,000 tonnes. Au and Ag grades are in grams
 per tonne (g/t)

&nbsp;&nbsp;&nbsp;&nbsp;9. Mineral
 resources are not mineral reserves, and detailed economic considerations have not been applied

&nbsp;&nbsp;&nbsp;&nbsp;10. Modifying
 factors for mine and process design have not been applied

Contained within the Mineral Resource at Hycroft are a series of high-grade silver veins at Brimstone and zones of higher silver concentrations in Vortex that are associated with a low angle breccia body. The modeling process of these high-grade silver domains was described earlier in this section. Those domains are contained within the Mineral Resources on Table 11-19 and Table 11-20. Table 11-21 to Table 11-23 are the tabulation of the gold and silver within the domain volumes that are contained within the Mineral Resources in Table 11-19 and Table 11-20.

The domains are in two areas of the deposit referred to as Brimstone and Vortex. The contained metal is illustrated at three different silver cutoff grades. Specific mine plans have not been completed but it is envisioned that these domains could be either mined in an open pit methodology and high-grade material could be comingled with lower-grade material from that specific pit. Or as an alternative, this material could be potentially targeted for an underground mine methodology. Additional metallurgical process development may be required to validate gold and silver recovery values in these specific areas.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 140

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-21: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 2 oz/ton Cutoff Grade, Imperial Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver oz/ton** | **Ktons** | **Gold**<br> **(oz/ton)** | **Silver** <br> **(oz/ton)** | **Sulfide Sulfur (%)** | **Gold Contained** <br> **oz x 1000** | **Silver Contained** <br> **oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 2.00 | 3195 | 0.011 | 8.35 | 1.33 | 35 | 26686 |
| Indicated | 2.00 | 330 | 0.010 | 3.11 | 1.87 | 3 | 1025 |
| Meas + Ind | 2.00 | 3525 | 0.011 | 7.86 | 1.38 | 38 | 27711 |
| Inferred | 2.00 | 15 | 0.008 | 3.52 | 1.13 | 0 | 52 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 2.00 | 9126 | 0.018 | 3.81 | 1.49 | 160 | 34781 |
| Indicated | 2.00 | 7342 | 0.014 | 3.78 | 1.24 | 100 | 27726 |
| Meas + Ind | 2.00 | 16468 | 0.016 | 3.80 | 1.38 | 261 | 62507 |
| Inferred | 2.00 | 3644 | 0.014 | 3.65 | 1.27 | 50 | 13307 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 2.00 | 12322 | 0.016 | 4.99 | 1.45 | 195 | 61467 |
| Indicated | 2.00 | 7671 | 0.013 | 3.75 | 1.26 | 104 | 28750 |
| Meas + Ind | 2.00 | 19993 | 0.015 | 4.51 | 1.38 | 299 | 90218 |
| Inferred | 2.00 | 3659 | 0.014 | 3.65 | 1.27 | 51 | 13359 |

---

Table 11-22: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 3 oz/ton Cutoff Grade, Imperial Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver oz/ton** | **Ktons** | **Gold**<br> **(oz/ton)** | **Silver**<br> **(oz/ton)** | **Sulfide**<br> **(%)** | **Gold Contained** <br> **oz x 1000** | **Silver Contained** <br> **oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 3.00 | 1841 | 0.010 | 12.75 | 1.25 | 19 | 23476 |
| Indicated | 3.00 | 109 | 0.008 | 4.55 | 2.14 | 1 | 494 |
| Meas + Ind | 3.00 | 1949 | 0.010 | 12.30 | 1.30 | 20 | 23970 |
| Inferred | 3.00 | 10 | 0.009 | 4.13 | 1.23 | 0 | 40 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 3.00 | 4494 | 0.017 | 5.24 | 1.39 | 74 | 23568 |
| Indicated | 3.00 | 3899 | 0.014 | 4.98 | 1.16 | 54 | 19416 |
| Meas + Ind | 3.00 | 8393 | 0.015 | 5.12 | 1.28 | 128 | 42984 |
| Inferred | 3.00 | 2023 | 0.010 | 4.63 | 1.30 | 21 | 9374 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 3.00 | 6335 | 0.015 | 7.43 | 1.35 | 93 | 47045 |
| Indicated | 3.00 | 4007 | 0.014 | 4.97 | 1.19 | 55 | 19909 |
| Meas + Ind | 3.00 | 10342 | 0.014 | 6.47 | 1.29 | 148 | 66954 |
| Inferred | 3.00 | 2032 | 0.010 | 4.63 | 1.30 | 21 | 9414 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 141

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-23: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 4 oz/ton Cutoff Grade, Imperial Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver oz/ton** | **Ktons** | **Gold**<br> **(oz/ton)** | **Silver**<br> **(oz/ton)** | **Sulfide**<br> **(%)** | **Gold Contained** <br> **oz x 1000** | **Silver Contained** <br> **oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 4.00 | 1386 | 0.011 | 15.81 | 1.23 | 15 | 21912 |
| Indicated | 4.00 | 61 | 0.007 | 5.39 | 2.10 | 0 | 331 |
| Meas + Ind | 4.00 | 1447 | 0.010 | 15.37 | 1.27 | 15 | 22243 |
| Inferred | 4.00 | 10 | 0.009 | 4.13 | 1.23 | 0 | 40 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 4.00 | 2679 | 0.017 | 6.48 | 1.37 | 46 | 17350 |
| Indicated | 4.00 | 2452 | 0.015 | 5.88 | 1.13 | 36 | 14426 |
| Meas + Ind | 4.00 | 5131 | 0.016 | 6.19 | 1.26 | 82 | 31776 |
| Inferred | 4.00 | 1326 | 0.010 | 5.26 | 1.26 | 13 | 6969 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 4.00 | 4065 | 0.015 | 9.66 | 1.33 | 60 | 39262 |
| Indicated | 4.00 | 2513 | 0.015 | 5.87 | 1.15 | 37 | 14757 |
| Meas + Ind | 4.00 | 6578 | 0.015 | 8.21 | 1.26 | 97 | 54019 |
| Inferred | 4.00 | 1335 | 0.010 | 5.25 | 1.26 | 13 | 7009 |

---

Table 11-24: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 68.57 g/t (2 oz/ton) Cutoff Grade, Metric Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver g/t** | **Ktonnes** | **Gold** <br> **(g/t)** | **Silver** <br> **(g/t)** | **Sulfide**<br> **(%)** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade Silver g/t** | **Ktonnes** | **Gold** <br> **(g/t)** | **Silver** <br> **(g/t)** | **Sulfide**<br> **(%)** | **Gold** <br> **Oz x 1000** | **Silver** <br> **Oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 68.57 | 2899 | 0.372 | 286.35 | 1.33 | 35 | 26686 |
| Indicated | 68.57 | 299 | 0.332 | 106.62 | 1.87 | 3 | 1025 |
| Meas + Ind | 68.57 | 3198 | 0.368 | 269.54 | 1.38 | 38 | 27711 |
| Inferred | 68.57 | 13 | 0.289 | 120.74 | 1.13 | 0 | 52 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 68.57 | 8279 | 0.603 | 130.67 | 1.49 | 160 | 34781 |
| Indicated | 68.57 | 6660 | 0.469 | 129.48 | 1.24 | 100 | 27726 |
| Meas + Ind | 68.57 | 14940 | 0.543 | 130.14 | 1.38 | 261 | 62507 |
| Inferred | 68.57 | 3306 | 0.475 | 125.20 | 1.27 | 50 | 13307 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 68.57 | 11178 | 0.543 | 171.04 | 1.45 | 195 | 61467 |
| Indicated | 68.57 | 6959 | 0.463 | 128.49 | 1.26 | 104 | 28750 |
| Meas + Ind | 68.57 | 18137 | 0.512 | 154.71 | 1.38 | 299 | 90218 |
| Inferred | 68.57 | 3319 | 0.474 | 125.18 | 1.27 | 51 | 13359 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 142

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 11-25: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 102.86 g/t (3 oz/ton) Cutoff Grade, Metric Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver (g/t)** | **Ktonnes** | **Gold** <br> **(g/t)** | **Silver** <br> **(g/t)** | **Sulfide (%)** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade Silver (g/t)** | **Ktonnes** | **Gold** <br> **(g/t)** | **Silver** <br> **(g/t)** | **Sulfide (%)** | **Gold** <br> **Oz x 1000** | **Silver** <br> **Oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 102.86 | 1670 | 0.353 | 437.24 | 1.25 | 19 | 23476 |
| Indicated | 102.86 | 98 | 0.281 | 155.98 | 2.14 | 1 | 494 |
| Meas + Ind | 102.86 | 1768 | 0.349 | 421.58 | 1.30 | 20 | 23970 |
| Inferred | 102.86 | 9 | 0.297 | 141.73 | 1.23 | 0 | 40 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 102.86 | 4077 | 0.566 | 179.80 | 1.39 | 74 | 23568 |
| Indicated | 102.86 | 3537 | 0.477 | 170.74 | 1.16 | 54 | 19416 |
| Meas + Ind | 102.86 | 7614 | 0.525 | 175.59 | 1.28 | 128 | 42984 |
| Inferred | 102.86 | 1835 | 0.349 | 158.91 | 1.30 | 21 | 9374 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 102.86 | 5747 | 0.504 | 254.61 | 1.35 | 93 | 47045 |
| Indicated | 102.86 | 3635 | 0.472 | 170.34 | 1.19 | 55 | 19909 |
| Meas + Ind | 102.86 | 9382 | 0.492 | 221.96 | 1.29 | 148 | 66954 |
| Inferred | 102.86 | 1844 | 0.348 | 158.82 | 1.30 | 21 | 9414 |

---

Table 11-26: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 137.14 g/t (4 oz/ton) Cutoff Grade, Metric Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver (g/t)** | **Ktonnes** | **Gold** <br> **(g/t)** | **Silver** <br> **(g/t)** | **Sulfide**<br> **(%)** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade Silver (g/t)** | **Ktonnes** | **Gold** <br> **(g/t)** | **Silver** <br> **(g/t)** | **Sulfide**<br> **(%)** | **Gold** <br> **Oz x 1000** | **Silver** <br> **Oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 137.14 | 1257 | 0.361 | 542.02 | 1.23 | 15 | 21912 |
| Indicated | 137.14 | 56 | 0.244 | 184.93 | 2.10 | 0 | 331 |
| Meas + Ind | 137.14 | 1313 | 0.357 | 526.88 | 1.27 | 15 | 22243 |
| Inferred | 137.14 | 9 | 0.297 | 141.73 | 1.23 | 0 | 40 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 137.14 | 2430 | 0.587 | 222.07 | 1.37 | 46 | 17350 |
| Indicated | 137.14 | 2225 | 0.504 | 201.70 | 1.13 | 36 | 14426 |
| Meas + Ind | 137.14 | 4655 | 0.548 | 212.34 | 1.26 | 82 | 31776 |
| Inferred | 137.14 | 1203 | 0.338 | 180.23 | 1.26 | 13 | 6969 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 137.14 | 3687 | 0.510 | 331.17 | 1.33 | 60 | 39262 |
| Indicated | 137.14 | 2280 | 0.498 | 201.29 | 1.15 | 37 | 14757 |
| Meas + Ind | 137.14 | 5968 | 0.505 | 281.55 | 1.26 | 97 | 54019 |
| Inferred | 137.14 | 1211 | 0.338 | 179.95 | 1.26 | 13 | 7009 |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 143

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

12 Mineral Reserve Estimates

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 144

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

13 Mining Methods

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 145

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

14 Recovery Methods

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 146

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

15 Infrastructure

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 147

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

16 Market Studies and Contracts

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 148

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

17 Environmental Studies, Permitting, and Plan, Negotiations, or Agreements with Local Individuals or Groups

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 149

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

18 Capital and Operating Costs

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 150

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

19 Economic Analysis

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 151

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

20 Adjacent Properties

The Rosebud mine is located about 4.7 miles south-east of the Mine (Figure 20-1). Rosebud was operated as an underground stope mine between 1997 and 2000 by a joint venture between Hecla and Newmont. Much of the following information is available online at mindat.org.

**Figure 20-1: Location of Rosebud Property**

Source: Hycroft, 2023

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 152

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The deposit is part of a large, low-sulfidation hydrothermal system extending throughout most of the Kamma Mountains. Specifically, the deposit is a low-temperature epithermal, quartz-sericite, gold and silver deposit within Miocene andesitic and rhyolitic volcanics and volcaniclastics. The volcanics unconformably overlie a Jurassic/Triassic metasediment basement, which also hosts precious metal mineralization.

Main structural elements include the east-west trending South Ridge Fault and the northeast trending Rosebud Shear, which displays up to 2,000 ft of left-lateral displacement and about 400 ft of normal displacement. The South Ridge Fault is a mineralized listric normal fault which acted as a conduit for mineralizing fluids.

The mining method was overhand cut and fill with access via a decline. Equipment was rubber-tired, including drill jumbos, rock bolters, 3.5-yard loaders, and 20-ton haul trucks. Typical ore panels were 14 ft high, 18 ft wide and about 80 ft long. These were backfilled with cemented materials batched at the surface and hauled underground.

Ore was direct shipped to the Carlin district for processing.

The QP has been unable to verify the information in this section, and the information is not necessarily indicative of the mineralization on the property that is the subject of the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 153

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

21 Other Relevant Data and Information

This section is not relevant to the technical report summary.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 154

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

22 Interpretation and Conclusions

22.1 Introduction

The QPs note the following interpretations and conclusions in their respective areas of expertise, based on the review of data available for this Report.

The purpose of this initial assessment is to disclose the latest update of the MRE as it is Hycroft's intent to further develop their sulfide mineral resource.

22.2 Mineral
 Tenure, Surface Rights, Water Rights, Royalties, and Agreements

Hycroft controls all surface and mineral rights within the Hycroft mineral resource area. No further land acquisition is required for the operation of the mine and contemplated processing facilities.

22.3 Geology
 and Mineralization

The Hycroft deposit is a low-sulfidation, epithermal, hot springs system that contains gold and silver mineralization. Radiometric dating of adularia (potassium feldspar) indicates that the main phase of gold and silver mineralization formed approximately four million years ago (Ebert and Rye, 1997) when hydrothermal fluids were fed upward along high angle, normal faults. Low-grade gold and silver mineralization was co-deposited with silica and potassium feldspar throughout porous rock types.

22.4 Exploration

The exploration drilling, sample preparation, analysis and security are typical for the US mining industry and is acceptable for application to mineral resource determination.

Within the block model, there are 5,813 drillholes with 516,901 drill intervals amounting to 2,668,616 ft of drilling. The work outlined is a summary of over a year's worth of data verification and checking by Hycroft and IMC personnel. As a result, the Hycroft and IMC teams have gained significant confidence in this data set. IMC holds the opinion that the database as utilized in this statement of mineral resources inclusive the edits and corrections outlined is appropriate for the estimation of mineral resources.

The QP considers that exploration drilling, sampling, sample preparation, analytical methods and security are acceptable, are in line with industry-standard practices, and are adequate for Mineral Resource determination.

22.5 Metallurgical
 Testwork

● The
 mineralized material at Hycroft is considered very abrasive.

● The
 mineralized material at Hycroft is considered hard with respect to grinding.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 155

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

● Silver
 recovery decreases at low pH ranges (<5.0) during oxidation, indicating the need for a
 lime boil step following POX.

● Oxygen
 consumption in POX circuit is primarily a function of the sulfide sulfur content of the concentrate.
 To achieve approximately 95% sulfide oxidation, about 0.19 ton of oxygen per ton of concentrate
 is required.

● Metallurgical
 testwork completed between 2021 and 2025 confirms that Hycroft sulfide mineralization is
 amenable to a flotation and POX processing route. Optimized flotation conditions significantly
 improved gold recoveries, and subsequent POX testing demonstrated that POX followed by hot
 cure, lime boil, and cyanide leaching is a technically viable and repeatable flowsheet for
 treating pyrite concentrate.

22.6 Mineral
 Resource Estimates

Mineral resources were developed based on a conventional computer-based block model of the deposit and the application of open pit optimization software to determine the mineralization with reasonable expectation of economic extraction.

Each block was evaluated to determine which process provides the best net return after operating cost. The following two processes were identified:

● ROM
 cyanide heap leaching of oxide and some transition materials.

● Milling,
 Flotation, POX, Hot Cure, and Lime Boil followed by Cyanide Leach and Merrill-Crowe of sulfide
 and some transition materials.

Mineral Resources were based on metal prices of $3,100/oz Au and $36.00/oz Ag. Mineral resources were contained within a computer-generated pit.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 156

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 22-1: Hycroft Mineral Resources as of 21 January 2026, Imperial Units

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade $ Net** <br> **of Refining/ ton**  | **Approximate**<br> **Cutoff, AuEq oz/ton** | **Ktons** | **Gold**<br> **oz/ton** | **Silver**<br> **oz/ton** | **Sulfide%** | **Contained Ounces** | **Contained Ounces** |
| **Classification** | **Cutoff Grade $ Net** <br> **of Refining/ ton**  | **Approximate**<br> **Cutoff, AuEq oz/ton** | **Ktons** | **Gold**<br> **oz/ton** | **Silver**<br> **oz/ton** | **Sulfide%** | **Gold**<br> **oz x 1000** | **Silver**<br> **oz x 1000** |
| **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** | **Heap Leach Resource** |
| Measured | $1.88 - $3.63 | 0.001 - 0.002 | 92994 | 0.005 | 0.11 | 1.83 | 446 | 10322 |
| Indicated | $1.88 - $3.63 | 0.001 - 0.002 | 110374 | 0.004 | 0.09 | 1.54 | 475 | 9492 |
| Meas + Ind | $1.88 - $3.63 | 0.001 - 0.002 | 203368 | 0.005 | 0.10 | 1.67 | 921 | 19814 |
| Inferred | $1.88 - $3.63 | 0.001 - 0.002 | 110018 | 0.005 | 0.09 | 1.41 | 528 | 10122 |
| **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** | **Flotation Mill + Concentrate Treatment by Pressure Oxidation and Cyanide Leach** |
| Measured | $16.73 | 0.007 | 734571 | 0.011 | 0.43 | 2.03 | 8154 | 316600 |
| Indicated | $16.73 | 0.007 | 748876 | 0.010 | 0.30 | 1.84 | 7339 | 226161 |
| Meas + Ind | $16.73 | 0.007 | 1483447 | 0.010 | 0.37 | 1.93 | 15493 | 542761 |
| Inferred | $16.73 | 0.007 | 459646 | 0.010 | 0.27 | 1.76 | 4505 | 122725 |
| **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** | **Combined Mineral Resources Leach Plus Mill** |
| Measured | $1.88 - $16.73 | 0.001 - 0.007 | 827565 | 0.010 | 0.40 | 2.01 | 8600 | 326922 |
| Indicated | $1.88 - $16.73 | 0.001 - 0.007 | 859250 | 0.009 | 0.27 | 1.80 | 7814 | 235653 |
| Meas + Ind | $1.88 - $16.73 | 0.001 - 0.007 | 1686815 | 0.010 | 0.33 | 1.90 | 16414 | 562575 |
| Inferred | $1.88 - $16.73 | 0.001 - 0.007 | 569664 | 0.009 | 0.23 | 1.69 | 5033 | 132847 |

---

Notes:

1. Mineral
 resources based on metal prices of $3,100/ oz Au and $36.00/ oz Ag

2. Cutoffs
 are income – refining cost = NSR

3. Gold
 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 Assay

4. Gold
 Equivalent for Mill + Pressure Oxidation = Fire Gold + 0.0107 x Total Silver Assay

5. Numbers
 may not match exactly due to rounding

6. Mineral
 resources are contained within a computer-generated optimized pit

7. Total
 material in the pit is 5.42 billion tons

8. Mineral
 resources are not mineral reserves, and detailed economic considerations have not been applied

9. Modifying
 factors for mine and process design have not been applied

10. All
 units are imperial. Ktons means 1,000 short tons of 2,000 lbs. Au and Ag grades are in troy
 ounces per short ton (oz/ton)

Contained within the Mineral Resource at Hycroft are a series of high-grade silver veins at Brimstone and zones of higher silver concentrations in Vortex that are associated with a low angle breccia body. Table 22-2 is the tabulation of gold and silver within the domain volumes that are contained within the Mineral Resources at 2 oz/ton cutoff grade in imperial units.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 157

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Table 22-2: High-grade Silver Bearing Domains, Contained within the Mineral Resource at 2 oz/ton Cutoff Grade, Imperial Units

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Cutoff Grade Silver oz/ton** | **Ktons** | **Gold**<br>**oz/ton** | **Silver <br> oz/ton** | **Sulfide Sulfur%** | **Gold Contained <br> oz x 1000** | **Silver Contained <br> oz x 1000** |
| **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** | **Brimstone** |
| Measured | 2.00 | 3195 | 0.011 | 8.35 | 1.33 | 35 | 26686 |
| Indicated | 2.00 | 330 | 0.010 | 3.11 | 1.87 | 3 | 1025 |
| Meas + Ind | 2.00 | 3525 | 0.011 | 7.86 | 1.38 | 38 | 27711 |
| Inferred | 2.00 | 15 | 0.008 | 3.52 | 1.13 | 0 | 52 |
| **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** | **Vortex** |
| Measured | 2.00 | 9126 | 0.018 | 3.81 | 1.49 | 160 | 34781 |
| Indicated | 2.00 | 7342 | 0.014 | 3.78 | 1.24 | 100 | 27726 |
| Meas + Ind | 2.00 | 16468 | 0.016 | 3.80 | 1.38 | 261 | 62507 |
| Inferred | 2.00 | 3644 | 0.014 | 3.65 | 1.27 | 50 | 13307 |
| **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** | **Brimstone + Vortex** |
| Measured | 2.00 | 12322 | 0.016 | 4.99 | 1.45 | 195 | 61467 |
| Indicated | 2.00 | 7671 | 0.013 | 3.75 | 1.26 | 104 | 28750 |
| Meas + Ind | 2.00 | 19993 | 0.015 | 4.51 | 1.38 | 299 | 90218 |
| Inferred | 2.00 | 3659 | 0.014 | 3.65 | 1.27 | 51 | 13359 |

---

22.7 Risks
 and Opportunities

22.7.1 Risks

22.7.1.1 Exploration

There are structural complexities with yet underdetermined kinematics controlling the high-grade silver veins requiring additional drilling for further definition.

22.7.1.2 Sample
 Preparation, Analysis and Security

In the future, IMC recommends that complete QA/QC procedures be applied to silver and sulfide sulfur assaying and sampling. Regular sampling for QA/QC should be applied to those values in the same way as they have been recently applied to gold.

22.7.1.3 Metallurgical
 Testing

The process method for processing sulfide mineralized materials by using flotation followed by a pressure oxidative treatment of the concentrates showed that the process method worked well and has improved from previous test work.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 158

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

The previous testwork program did not include provisions for mercury capture in the POX off-gas scrubbing and venting system. If mercury capture is required for environmental compliance, additional equipment would be required, including condensing capacity and upstream air drying and gas cleaning systems.

Head grade analyses of rougher flotation concentrates conducted by SGS (Project 13224-001/003, Final Report dated April 11, 2013) reported mercury concentrations ranging from 9.1 ppm to 34.1 ppm. However, no testwork has been performed to quantify the extent of mercury volatilization during POX. Additional testwork is required to confirm mercury concentrations in autoclave off-gas and to determine whether mercury capture is required.

Operating recoveries for gold and silver assumed for this report has some risks that could impact economics, and these need to be managed and mitigated by additional studies.

Process reagent unit costs can change quite quickly depending on various market factors which may result in fluctuations in operating cost estimates.

Operating costs are also subject to market pricing changes due to increases in energy costs that are being driven by the continued inflationary environment in many industries, particularly commodity materials.

Hycroft has operated run-of-mine heap leach facility to produce gold and silver. The cumulative performance statistics and metallurgical test data gathered are extensive and strongly support the current heap leach recovery assumptions for oxide mineralized materials.

22.7.1.4 Mineral
 Resource Estimate

The risks to the Mineral Resource are project costs and project recoveries as well as metal prices that can have a substantial impact both positive and negative.

Cutoff grades for both heap leach and concentrator processing are low due to the current high level of metal prices.

Any reduction of process recovery near the heap leach or concentrator cutoff grades could result in a loss of mineral resource.

22.7.2 Opportunities

22.7.2.1 Exploration

Hycroft holds a large land package with good growth potential.

Multiple episodes of mineralization within a well-developed structural framework may result in discovery of additional mineral trends that are open along strike and at depth.

Expanding the use of IP geophysics in the mineralization zone may identify multiple untested targets in the existing data set. This emerging technology has a proven record of success in similar applications.

22.7.2.2 Metallurgical
 Testing

Additional metallurgical testwork provides opportunities to further optimize the POX circuit design and potentially reduce capital and operating costs. Key testwork opportunities include evaluating POX kinetics to confirm minimum autoclave retention time, assessing the impact of flotation grind size and mass pull on concentrate quality and POX performance, and optimizing oxygen partial pressure and utilization. Additional work is also recommended to confirm autothermal operation, characterize solids–liquid separation performance for flotation concentrate and POX discharge, and better define POX discharge chemistry to optimize neutralization and downstream processing. Targeted off-gas and condensate characterization may also be required to support environmental compliance requirements.

Alternatives for processing flotation concentrates are under process development, including but not limited to, roasting and sulfide sulfur recovery for sulfuric acid production. This has the potential to reduce operating costs, raise gold and silver recoveries and create an additional revenue stream.

22.7.2.3 Mineral
 Resource Estimate

Alternatives are under evaluation for treatment of flotation concentrates. Improvements and confirmation of those alternatives could provide significant financial benefit and increase the volume and value of the mineral resource.

Minimal geotechnical information has been gathered resulting in very conservative slope parameters applied. Adding geotechnical data from the drilling and logging program may improve the alteration model which could lead to more beneficial slope parameters, thus reducing stripping ratios.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 159

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

23 Recommendations

23.1 Exploration

● Update
 the technical report summary with a preliminary economic evaluation of the project as currently
 envisioned.

● Increase
 the drill hole density in the Bay area.

● Continue
 to develop drill plans in the exploration target areas to the east (Manganese and Wildrose)
 and south (Oscar), to further expand the resource.

● Continue
 deep exploration on Brimstone and Vortex high-grade mineralization.

● Drill
 the Bay and Camel targets to fully define leachable opportunities.

● Continue
 developing regional exploration targets.

● Continue
 exploring the total land package that Hycroft holds, including more geological mapping, soil
 and chip samples, geophysical information and drilling.

● Drill
 out the current leach pads and stockpiles to better define potential economic benefit to
 future processing activities.

23.2 Sample
 Preparation, Analysis and Security

Always complete QA/QC analysis on all potentially economic minerals including gold, silver, and sulfide sulfur. Avoid selective application of quality controls during the drilling, sampling, and assay process.

23.3 Metallurgical
 Testing

It is recommended that Hycroft continue to evaluate known oxide / transition zones for further heap leach feed material. Also, Hycroft should investigate the potential to re-leach material from historic heap leach pads for an additional revenue source.

It is also recommended that Hycroft undertake additional metallurgical testwork covering flotation, POX, leaching, solids–liquid separation, cyanide destruction, and Merrill-Crowe processes. The results of this testwork should allow Hycroft to:

● optimize
 the flotation reagent suite to reduce operating costs

● optimize
 the autoclave retention time required for variations in flotation concentrate product size

● evaluate
 the potential to reduce autoclave oxygen partial pressure to the range of 15–30 psi

● generate
 additional recovery data as a function of retention time and extent of sulfide oxidation

● investigate
 each of the POX, Hot Cure, and Lime Boil stages in sufficient detail to reduce capital costs
 by reducing lime and limestone consumption, eliminating unnecessary process steps or shortening
 retention times, thereby reducing equipment sizing and cost

● investigate
 POX discharge solution chemistry and limestone/lime consumptions to reduce operating costs

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 160

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

● determine
 whether flotation mass pull can be reduced. The sulfide grade of the concentrate may be marginal
 with respect to providing sufficient exothermic energy to sustain autoclave reactions. This
 information is required to determine whether preheating is necessary ahead of POX

● obtain
 solids–liquid separation performance data and flocculant requirements for all thickeners,
 including tailings, concentrate, POX CCDs, and leach residue CCDs. Higher underflow density
 from the concentrate thickener would be beneficial to the autoclave heat balance

● optimize
 cyanide addition and quantify cyanide consumption in the leach circuit, including levels
 of free and WAD cyanide post-leach

● optimize
 reagent consumption in the cyanide destruction circuit by developing an accurate and reliable
 SO₂/CN ratio

● determine
 whether post-leach solution chemistry impacts Merrill-Crowe recovery efficiency.

23.4 Mineral
 Resource Estimate

Continue evaluation and testing of alternative processing methods of flotation concentrates.

Always complete QA/QC analysis on all potentially economic minerals including gold, silver, and sulfide sulfur.

Gather more geotechnical information from previous core samples and with the addition of new geotechnical core holes to improve slope stability parameters.

23.5 Estimated
 Program Costs

---

| | |
|:---|:---|
| **Table 23-1** | **provides estimated program costs.** |

---

---

| | |
|:---|:---|
| **Table 23-1:** | **Estimated Program Costs** |

---

---

| | |
|:---|:---|
| **Program Cost** | **Estimated Cost (US$)** |
| Updated Technical Report with Economics | 200000 |
| Exploration Drilling East and South | 1600000 |
| Exploration Drilling Deep in Brimstone/Vortex | 14500000 |
| Regional Exploration Targets | 500000 |
| Exploration for Leachable Opportunities (Bay & Camel) | 1800000 |
| Exploration - Leach Pads and Stockpiles | 800000 |
| Sample Preparation - Procedural Upgrade | 50000 |
| Metallurgical Testing - Historic Leach Pads | 250000 |
| Metallurgical Testing - High-Grade Process Development | 550000 |
| Metallurgical Testing - POX Process Development/Optimization | 1100000 |
| Mineral Resource - Alternative Processing Method Development | 800000 |
| Mineral Resource and Mine Planning – Additional Geotechnical Testing | 300000 |

---

Note: All costs are subject to change based on project results

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 161

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

24 References

Ausenco Engineering USA South Inc, 2023. "Technical Report Summary of Initial Assessment on the Hycroft Mine, Nevada, United States of America."

Ausenco Engineering USA South Inc, 2022. "Technical Report Summary of Initial Assessment on the Hycroft Mine, Nevada, United States of America."

Bailey, E.H, and Phoenix, D.A. (1944). QuickAg Deposits in Nevada, University of Nevada Bulletin, v.38, no.5.

Bates, W.R. (2001). A proposed Exploration Program for the Hycroft Mine. Unpublished Vista Au report.

Bureau of Land Management (BLM). (2019). Hycroft Mine Phase II Expansion Project Draft Environmental Impact Statement DOI-BLM-NV-W030-2015-007. Prepared by U.S. Bureau of Land Management Winnemucca District Office Black Rock Field Office in Coordination with U.S. Fish and Wildlife Service Pacific Southwest Region Division of Migratory Bird Management. May 2019.

California's Office of Statewide Health Planning and Development (OSHPD), OSHPD Seismic Design Maps Website for Hycroft Mine, Reference: ASCE 7-16, Site Class: D, Risk Category: Visited 20 Aug 2021. I Available at: https://seismicmaps.org/.

Clark. I.C. (1918). Recently Recognized Alunite Deposits at Sulphur, Humboldt County, Nevada, Engineering and Mining Journal, v.106, no.4.

Couch, B.F and Carpenter, J. A. (1943). Nevada's metal and mineral production (1859-1940 inclusive), Univ. Nevada Bulletin, v.37, no.4 Geology and Mining Services no.38.

Ebert, S.W., & Rye, R.O. (1997). Secondary precious metal enrichment by steam-heated fluids in the Crofoot-Lewis hot spring gold -silver deposit. Economic Geology, v.92, 578-600p.

Friberg, R.S. (1980). Detailed Evaluation Report of the Sulphur Au Ag prospect, Humboldt and Pershing Counties, Nevada. Unpublished Homestake Mining Company Report, 32p.

Fulton and Smith. (1932). Nevada Bureau of Mines and Geology File Manuscript.

GISTM. (2020). Global Industry Standards on Tailings Management. Co-convened by the International Council on Mining and Metals (ICMM), United Nations Environment Programme (UNEP) and Principles for Responsible Investment (PRI). August 2020.

Hazen Research Inc. (2011). POX-CIL Evaluation of Hycroft Flotation Concentrates, Hazen Project 11232 Report and Appendices A-F.

Hazen Research Inc. (2011). Evaluation of Hycroft Blend Flotation Concentrate, Hazen Project 11243-01 Report and Appendix.

Hazen Research Inc. (2011). Evaluation of Kappes, Cassiday & Associates Flotation Concentrate, Hazen Project 11307 Report and Appendix.

Hazen Research Inc. (2014). Atmospheric Alkaline Oxidation Pre-treatment Pilot Plant of Hycroft Flotation Concentrates, Hazen Project 11859.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 162

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

Hazen Research Inc. (2014). Phase 2 Atmospheric Alkaline Oxidation of Hycroft Flotation Concentrate, Hazen Project 11821.

Humboldt County Building Department 2018 Code Amendments. Visited 20 August 2021. Available at: https://www.humboldtcountynv.gov/DocumentCenter/View/3415/2018-Code-Admendments-Approved.

Hycroft Mining Management. (2021). Hycroft Building a World-Class Operation. PowerPoint presentation from April 20, 2021. http://www.hycroftmining.com/wp-content/uploads/2021-Presentation-4-19-21.pdf.

Hycroft Resources and Development, Inc. (HRDI). (2017). Fact Sheet Pursuant to Hycroft Mine Project, Permit Number: NEV0094114. Renewal 2017, Fact Sheet Revision 01. https://ndep.nv.gov/uploads/documents/NEV0094114dfsFY20.pdf.

Hycroft Resources and Development, Inc. (HRDI). (2018). Hycroft Mine Amendment to Plan of Operations (NVN-064641) Phase II Expansion Project. Prepared for the United States Department of the Interior, Bureau of Land Management, Black Rock Field Office, Winnemucca, Nevada. April 2014. Revised June 2014, Revised January 2017, Revised March 2017, and Revised June 2018.

Hynes-Griffin, M.E., and Franklin, A. G. (1984). "Rationalizing the seismic coefficient method." Miscellaneous Paper GL-84-13, Geotechnical Laboratory, U. S. Army Engineer Waterways Experiment Station, Vicksburg, Mississippi.

Ibrado, A.S., Roth, D.K., Snider, J.W., Brown, R.A., Harris, D.A., Pennstrom, W.J., Peterson, A.T. (2014). NI 43-101 Technical Report Mill Expansion Feasibility Study Technical Report, Winnemucca, Nevada, USA. Prepared by M3 for Allied Nevada Gold Corp., Effective date: November 03, 2014.

Jones, J.C. (1921). Report on the Property of the Ag Camel Mining and Development Company, Sulphur, Nevada. Unpublished Ag Camel Mining and Development Company Report, 6p.

Kappes, Cassidy & Associates, (2013). Hycroft Pressure Oxidation and Leach Test Work, Project No. 189 C/Report I.D. KCA0120225_HY18_02 / Mainfile No. 7665.

M3 Engineering & Technology, Newman, S., DeLong, R.F., Clarkson, B. M., Carew, T., Hartmann, M. (2019). Technical Report Summary: Heap Leaching Feasibility Study. Prepared by M3 for Hycroft, Effective date: July 31, 2019.

McLean, D.A., (1991). Geology of the Crofoot Mine; unpublished Hycroft Resources and Development Inc. Report, 11p.

MMW (2012). Review of Seismogenic Potential of the Kamma (East) Fault and Design Ground Motions, Proposed Heap Leach Facilities, Hycroft Mine, Humboldt County, Nevada. Report prepared by Michael W. West & Associates, Inc. for Knight Piesold & Company. December 18, 2012.

Newman, S., DeLong, R.F., Clarkson, B. M., Carew, T., Hartmann, M., Technical Report Summary: Heap Leaching Feasibility Study. Prepared by M3 Metals Corp for Hycroft Mining Corporation, Effective date: July 31, 2019

Pershing County Building Commercial Building Guide, Minimum Standards for Building Plans, New Commercial Project Permit Application Checklist: For commercial structures, such as Groups: A, B, E, F, H, I, M, R, and S occupancies. Visited 16 Aug 2021. Available at: https:// www.pershingcountynv.gov/document_center /Department/Building%20Department/CommercialGuidelines-002.pdf.

Prenn, Neil, (2006). Technical Report – Vista Au Corp., Hycroft Mine, Winnemucca, Nevada, USA, 43-101 Technical Report prepared by Mine Development Associates, 142p.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 163

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

SGS Minerals Services. (2009). The Recovery of Au and Ag from Hycroft Project Sulphide Samples, Allied Nevada Au Corporation – Hycroft Project – 12012-001 (Report 3).

SGS Minerals Services. (2013). An Investigation into Oxidative Pretreatment of Hycroft Flotation Concentrates, SGS Project 13224-001/003 – Final Report.

Shawn Gooch, P.E., (2020). Hycroft Resources and Development, Inc. (HDRI) Hycroft Mine Project NEV0094114 (Renewal 2017, Fact Sheet Revision 01).

SRK Consulting Inc (SRK). (2022). Preliminary Estimate of Dewatering Requirements to Support 2021 Pre-Feasibility Study Technical Memorandum.

USGS (2014). United States Geologic Survey - Unified Hazard Tool. Website tool. https://earthquake.usgs.gov/hazards/interactive/index.php.

Vandenburg, W.O. (1938). Reconnaissance of Mining Districts in Humboldt County, Nevada; U.S. Bureau of Mines Circular 6995, 47p.

Wallace, A.B. (1980). Geology of the Sulphur District, Southwestern Humboldt County, Nevada, unpublished report for the Soc. Econ. Geol. Field Trip, 1984.

Ware, G.H. (1989). Surface Mapping, Sampling and Selected Cross-Sections, unpublished report for Hycroft Resources & Development.

Wilden R. (1964). Geology of Mineral Deposits of Humboldt County, Nevada, Nevada Bureau of Mines Bulletin 59, 154p.

Wilson, S. E. (2008). Technical Report - Allied Nevada Gold Corp., Hycroft Mine, Winnemucca, Nevada, USA.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 164

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

25 Reliance on Other Experts

Table 25-1 provides a detailed list of information provided by Hycroft (Registrant) for matters discussed in this Technical Report Summary.

**Table 25-1: Information Provided by Hycroft**

---

| | | |
|:---|:---|:---|
| **Category** | **TRS Section** | **Reliance** |
| Legal Matters | Section 3 Property Description and Location | Information and documentation regarding mineral titles, surface land agreements, current permitting status, royalties and other agreements provided by Hycroft. |

---

The QPs consider it reasonable to rely upon Hycroft for this information because Hycroft, along with its legal and other advisors, are best positioned to access and interpret existing information and documentation concerning these legal matters and interpretation of the same is outside of the expertise of the QPs.

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Page \| 165

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Appendix A Hycroft Patented Claims**

---

| | | |
|:---|:---|:---|
| **Claim Name** | **Patent No.** | **Mineral Survey No.** |
| Admission Placer | 908431 | 4355 |
| Black Rock (portion) | 1064817 | 4688A |
| Black Rock (portion) | 1064817 | 4688A |
| Brime Stone Placer - aka Brimstone Placer | 1001727 | 4600 |
| Cold Sulphur Placer | 83151 | 3225 |
| Green Rock Placer (portion) - aka Green Rock No. 1 | 1223182 | 4839<br> 4857 |
| Green Rock Placer (portion) - aka Green Rock No. 2 | 1223182 | 4839<br> 4857 |
| Green Rock Placer (portion) - aka Green Rock No. 3 | 1223182 | 4839<br> 4857 |
| Green Rock Placer (portion) - aka Green Rock No. 4 | 1223182 | 4839<br> 4857 |
| Hilltop Placer (portion) | 1008652 | 4598 |
| Hilltop Placer (portion) | 1008652 | 4598 |
| Hilltop Placer (portion) | 1008652 | 4598 |
| Occult Placer (portion) | 1008652 | 4598 |
| Occult Placer (portion) | 1008652 | 4598 |
| Occult Placer (portion) | 1008652 | 4598 |
| Scheol No. 9 Placer | 1008652 | 4598 |
| Sheol No. 4 Placer (portion) | 908431 | 4355 |
| Sheol No. 5 Placer (portion) | 908431 | 4355 |
| Sheol No. 6 Placer | 908431 | 4355 |
| Sheol No. 7 Placer | 908431 | 4355 |
| Sheol No. 8 Placer | 908431 | 4355 |
| Sheol Nos. 4 & 5 Placer (portions) | 908431 | 4355 |
| Sheol Sulphur Mine No. 1 Placer | 908431 | 4355 |
| Sheol Sulphur Mine No. 2 Placer | 908431 | 4355 |
| Sheol Sulphur Mine No. 3 Placer | 908431 | 4355 |
| Swager Placer | 1213605 | 4839 |
| West Virginia No. 1 | 1064817 | 4688A |
| West Virginia No. 2 | 1064817 | 4688A |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| A

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

**Appendix B Hycroft Unpatented Claims**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| Airstrip #1 | 4/09/1958 | Crofoot Henry | NMC88292 | Humboldt |
| Airstrip #2 | 4/09/1958 | Crofoot Henry | NMC88293 | Humboldt |
| Airstrip #3 | 4/09/1958 | Crofoot Henry | NMC88294 | Humboldt |
| Airstrip #4 | 4/02/1958 | Crofoot Henry | NMC88295 | Humboldt |
| Airstrip #5 | 4/02/1958 | Crofoot Henry | NMC88296 | Humboldt |
| Airstrip Fraction | 7/27/1967 | Crofoot Henry | NMC88297 | Humboldt |
| Albert Lode 1 | 1/27/2026 | Hycroft Resources & Development, LLC | In Process - Application Submitted | Humboldt |
| Albert Lode 2 | 1/27/2026 | Hycroft Resources & Development, LLC | In Process - Application Submitted | Humboldt |
| Albert | 3/11/1989 | Kolb Theodore A | NMC546000 | Humboldt |
| Alunite | 11/04/1980 | Lewis Frank W | NMC181012 | Humboldt |
| Alunite #2 | 11/04/1980 | Lewis Frank W | NMC181013 | Humboldt |
| Anita | 3/11/1989 | Kolb Theodore A | NMC545998 | Humboldt |
| Ashlode | 3/11/1989 | Kolb Theodore A | NMC545999 | Humboldt |
| Blackrock #2 | 3/11/1989 | Kolb Theodore A | NMC545996 | Humboldt |
| CKC #1 | 3/03/1973 | Crofoot Daniel M | NMC88348 | Humboldt |
| CKC #10 | 3/11/1989 | Crofoot Daniel M | NMC546001 | Humboldt |
| CKC #11 | 3/11/1989 | Crofoot Daniel M | NMC546002 | Humboldt |
| CKC #13 | 3/11/1989 | Crofoot Daniel M | NMC546003 | Humboldt |
| CKC #14 | 3/11/1989 | Crofoot Daniel M | NMC546004 | Humboldt |
| CKC #15 | 8/14/1987 | Crofoot Daniel M | NMC444112 | Humboldt |
| CKC #2 | 3/03/1973 | Crofoot Daniel M | NMC88349 | Humboldt |
| CKC #3 | 4/03/1973 | Crofoot Daniel M | NMC88350 | Humboldt |
| CKC #4 | 4/03/1973 | Crofoot Daniel M | NMC88351 | Humboldt |
| CKC #5 | 4/03/1973 | Crofoot Daniel M | NMC88352 | Humboldt |
| CKC #6 | 4/03/1973 | Crofoot Daniel M | NMC88353 | Humboldt |
| CKC #7 | 9/06/1973 | Crofoot Daniel M | NMC88354 | Humboldt |
| DIA #1 | 8/25/1983 | Lewis Frank W | NMC284248 | Humboldt |
| DIA #2 | 8/25/1983 | Lewis Frank W | NMC284249 | Humboldt |
| DIA #3 | 8/25/1983 | Lewis Frank W | NMC284250 | Humboldt |
| DIA #4 | 8/25/1983 | Lewis Frank W | NMC284251 | Humboldt |
| DIA #5 | 8/25/1983 | Lewis Frank W | NMC284252 | Humboldt |
| FG 223 | 9/05/2006 | Hycroft Res & Dev Inc | NMC939256 | Humboldt |
| FG 224 | 9/05/2006 | Hycroft Res & Dev Inc | NMC939257 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| B

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| FG 225 | 9/05/2006 | Hycroft Res & Dev Inc | NMC939258 | Humboldt |
| FG 270 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939291 | Humboldt |
| FG 271 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939292 | Humboldt |
| FG 272 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939293 | Humboldt |
| FG 273 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939294 | Humboldt |
| FG 274 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939295 | Humboldt |
| FG 319 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939332 | Humboldt |
| FG 320 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939333 | Humboldt |
| FG 321 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939334 | Humboldt |
| FG 322 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939335 | Humboldt |
| FG 323 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939336 | Humboldt |
| FG 368 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939373 | Humboldt |
| FG 369 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939374 | Humboldt |
| FG 370 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939375 | Humboldt |
| FG 371 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939376 | Humboldt |
| FG 372 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939377 | Humboldt |
| FG 373 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939378 | Humboldt |
| FG 374 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939379 | Humboldt |
| FG 375 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939380 | Humboldt |
| FG 376 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939381 | Humboldt |
| FG 421 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939426 | Humboldt |
| FG 423 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939428 | Humboldt |
| FG 424 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939429 | Humboldt |
| FG 425 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939430 | Humboldt |
| FG 426 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939431 | Humboldt |
| FG 427 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939432 | Humboldt |
| FG 428 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939433 | Humboldt |
| FG 429 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939434 | Humboldt |
| FG 430 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939435 | Humboldt |
| FG 431 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939436 | Humboldt |
| FG 432 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939437 | Humboldt |
| FG422 | 9/01/2006 | Hycroft Res & Dev Inc | NMC939427 | Humboldt |
| HRDI 224 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102182 | Humboldt |
| HRDI 225 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102183 | Humboldt |
| HRDI 226 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102184 | Humboldt |
| HRDI 227 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102185 | Humboldt |
| HRDI 228 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102186 | Humboldt |
| HRDI 229 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102187 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| C

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| HRDI 230 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102188 | Humboldt |
| Mayo | 3/11/1989 | Hycroft Res & Dev Inc | NMC545997 | Humboldt |
| NC 1 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027839 | Humboldt |
| NC 10 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027848 | Humboldt |
| NC 11 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027849 | Humboldt |
| NC 110 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027948 | Humboldt |
| NC 111 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027949 | Humboldt |
| NC 112 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027950 | Humboldt |
| NC 113 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027951 | Humboldt |
| NC 114 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027952 | Humboldt |
| NC 115 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027953 | Humboldt |
| NC 116 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027954 | Humboldt |
| NC 117 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027955 | Humboldt |
| NC 118 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027956 | Humboldt |
| NC 119 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027957 | Humboldt |
| NC 12 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027850 | Humboldt |
| NC 120 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027958 | Humboldt |
| NC 121 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027959 | Humboldt |
| NC 122 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027960 | Humboldt |
| NC 123 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027961 | Humboldt |
| NC 124 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027962 | Humboldt |
| NC 125 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027963 | Humboldt |
| NC 126 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027964 | Humboldt |
| NC 127 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027965 | Humboldt |
| NC 128 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027966 | Humboldt |
| NC 129 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027967 | Humboldt |
| NC 13 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027851 | Humboldt |
| NC 130 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027968 | Humboldt |
| NC 131 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027969 | Humboldt |
| NC 14 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027852 | Humboldt |
| NC 15 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027853 | Humboldt |
| NC 151 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027989 | Humboldt |
| NC 152 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027990 | Humboldt |
| NC 153 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027991 | Humboldt |
| NC 154 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027992 | Humboldt |
| NC 155 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027993 | Humboldt |
| NC 156 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027994 | Humboldt |
| NC 157 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027995 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| D

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NC 158 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027996 | Humboldt |
| NC 159 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027997 | Humboldt |
| NC 16 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027854 | Humboldt |
| NC 160 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027998 | Humboldt |
| NC 161 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027999 | Humboldt |
| NC 162 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028000 | Humboldt |
| NC 163 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028001 | Humboldt |
| NC 164 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028002 | Humboldt |
| NC 165 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028003 | Humboldt |
| NC 166 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028004 | Humboldt |
| NC 167 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028005 | Humboldt |
| NC 168 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028006 | Humboldt |
| NC 169 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028007 | Humboldt |
| NC 189 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028027 | Humboldt |
| NC 190 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028028 | Humboldt |
| NC 191 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028029 | Humboldt |
| NC 192 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028030 | Humboldt |
| NC 193 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028031 | Humboldt |
| NC 194 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028032 | Humboldt |
| NC 195 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028033 | Humboldt |
| NC 196 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028034 | Humboldt |
| NC 197 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028035 | Humboldt |
| NC 198 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028036 | Humboldt |
| NC 199 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028037 | Humboldt |
| NC 2 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027840 | Humboldt |
| NC 200 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028038 | Humboldt |
| NC 201 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028039 | Humboldt |
| NC 202 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028040 | Humboldt |
| NC 203 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028041 | Humboldt |
| NC 204 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028042 | Humboldt |
| NC 224 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028062 | Humboldt |
| NC 225 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028063 | Humboldt |
| NC 226 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028064 | Humboldt |
| NC 227 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028065 | Humboldt |
| NC 228 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028066 | Humboldt |
| NC 229 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028067 | Humboldt |
| NC 230 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028068 | Humboldt |
| NC 231 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028069 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| E

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NC 232 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028070 | Humboldt |
| NC 233 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028071 | Humboldt |
| NC 234 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028072 | Humboldt |
| NC 235 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028073 | Humboldt |
| NC 236 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028074 | Humboldt |
| NC 237 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028075 | Humboldt |
| NC 238 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028076 | Humboldt |
| NC 239 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028077 | Humboldt |
| NC 259 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028097 | Humboldt |
| NC 260 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028098 | Humboldt |
| NC 261 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028099 | Humboldt |
| NC 262 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028100 | Humboldt |
| NC 263 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028101 | Humboldt |
| NC 264 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028102 | Humboldt |
| NC 265 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028103 | Humboldt |
| NC 266 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028104 | Humboldt |
| NC 267 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028105 | Humboldt |
| NC 268 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028106 | Humboldt |
| NC 269 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028107 | Humboldt |
| NC 270 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028108 | Humboldt |
| NC 271 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028109 | Humboldt |
| NC 272 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028110 | Humboldt |
| NC 273 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028111 | Humboldt |
| NC 293 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028131 | Humboldt |
| NC 294 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028132 | Humboldt |
| NC 295 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028133 | Humboldt |
| NC 296 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028134 | Humboldt |
| NC 297 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028135 | Humboldt |
| NC 298 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028136 | Humboldt |
| NC 299 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028137 | Humboldt |
| NC 3 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027841 | Humboldt |
| NC 300 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028138 | Humboldt |
| NC 301 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028139 | Humboldt |
| NC 302 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028140 | Humboldt |
| NC 303 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028141 | Humboldt |
| NC 304 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028142 | Humboldt |
| NC 305 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028143 | Humboldt |
| NC 31 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027869 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| F

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NC 32 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027870 | Humboldt |
| NC 33 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027871 | Humboldt |
| NC 34 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027872 | Humboldt |
| NC 35 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027873 | Humboldt |
| NC 36 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027874 | Humboldt |
| NC 37 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027875 | Humboldt |
| NC 38 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027876 | Humboldt |
| NC 39 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027877 | Humboldt |
| NC 4 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027842 | Humboldt |
| NC 40 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027878 | Humboldt |
| NC 41 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027879 | Humboldt |
| NC 42 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027880 | Humboldt |
| NC 43 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027881 | Humboldt |
| NC 44 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027882 | Humboldt |
| NC 45 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027883 | Humboldt |
| NC 46 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027884 | Humboldt |
| NC 47 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027885 | Humboldt |
| NC 48 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027886 | Humboldt |
| NC 49 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027887 | Humboldt |
| NC 5 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027843 | Humboldt |
| NC 6 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027844 | Humboldt |
| NC 69 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027907 | Humboldt |
| NC 7 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027845 | Humboldt |
| NC 70 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027908 | Humboldt |
| NC 71 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027909 | Humboldt |
| NC 72 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027910 | Humboldt |
| NC 73 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027911 | Humboldt |
| NC 74 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027912 | Humboldt |
| NC 75 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027913 | Humboldt |
| NC 76 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027914 | Humboldt |
| NC 77 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027915 | Humboldt |
| NC 78 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027916 | Humboldt |
| NC 79 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027917 | Humboldt |
| NC 8 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027846 | Humboldt |
| NC 80 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027918 | Humboldt |
| NC 81 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027919 | Humboldt |
| NC 82 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027920 | Humboldt |
| NC 83 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027921 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| G

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NC 84 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027922 | Humboldt |
| NC 85 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027923 | Humboldt |
| NC 86 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027924 | Humboldt |
| NC 87 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027925 | Humboldt |
| NC 88 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027926 | Humboldt |
| NC 89 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027927 | Humboldt |
| NC 9 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027847 | Humboldt |
| NC 90 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027928 | Humboldt |
| NFG 1 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939506 | Humboldt |
| NFG 10 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939515 | Humboldt |
| NFG 100 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939604 | Humboldt |
| NFG 101 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939605 | Humboldt |
| NFG 102 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939606 | Humboldt |
| NFG 103 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939607 | Humboldt |
| NFG 104 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939608 | Humboldt |
| NFG 105 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939609 | Humboldt |
| NFG 106 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939610 | Humboldt |
| NFG 107 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939611 | Humboldt |
| NFG 108 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939612 | Humboldt |
| NFG 109 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939613 | Humboldt |
| NFG 11 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939516 | Humboldt |
| NFG 110 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939614 | Humboldt |
| NFG 111 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939615 | Humboldt |
| NFG 112 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939616 | Humboldt |
| NFG 113 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939617 | Humboldt |
| NFG 114 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939618 | Humboldt |
| NFG 115 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939619 | Humboldt |
| NFG 116 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939620 | Humboldt |
| NFG 117 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939621 | Humboldt |
| NFG 118 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939622 | Humboldt |
| NFG 119 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939623 | Humboldt |
| NFG 12 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939517 | Humboldt |
| NFG 120 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939624 | Humboldt |
| NFG 121 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939625 | Humboldt |
| NFG 122 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939626 | Humboldt |
| NFG 123 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939627 | Humboldt |
| NFG 124 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939628 | Humboldt |
| NFG 125 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939629 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| H

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NFG 126 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939630 | Humboldt |
| NFG 127 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939631 | Humboldt |
| NFG 128 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939632 | Humboldt |
| NFG 129 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939633 | Humboldt |
| NFG 13 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939518 | Humboldt |
| NFG 130 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939634 | Humboldt |
| NFG 131 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939635 | Humboldt |
| NFG 132 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939636 | Humboldt |
| NFG 133 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939637 | Humboldt |
| NFG 134 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939638 | Humboldt |
| NFG 135 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939639 | Humboldt |
| NFG 136 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939640 | Humboldt |
| NFG 137 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939641 | Humboldt |
| NFG 138 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939642 | Humboldt |
| NFG 139 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939643 | Humboldt |
| NFG 14 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939519 | Humboldt |
| NFG 140 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939644 | Humboldt |
| NFG 141 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939645 | Humboldt |
| NFG 142 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939646 | Humboldt |
| NFG 143 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939647 | Humboldt |
| NFG 144 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939648 | Humboldt |
| NFG 145 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939649 | Humboldt |
| NFG 146 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939650 | Humboldt |
| NFG 147 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939651 | Humboldt |
| NFG 148 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939652 | Humboldt |
| NFG 149 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939653 | Humboldt |
| NFG 15 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939520 | Humboldt |
| NFG 150 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939654 | Humboldt |
| NFG 151 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939655 | Humboldt |
| NFG 152 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939656 | Humboldt |
| NFG 153 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939657 | Humboldt |
| NFG 154 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939658 | Humboldt |
| NFG 155 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939659 | Humboldt |
| NFG 156 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939660 | Humboldt |
| NFG 157 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939661 | Humboldt |
| NFG 158 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939662 | Humboldt |
| NFG 159 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939663 | Humboldt |
| NFG 16 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939521 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| I

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NFG 160 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939664 | Humboldt |
| NFG 161 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939665 | Humboldt |
| NFG 162 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939666 | Humboldt |
| NFG 163 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939667 | Humboldt |
| NFG 164 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939668 | Humboldt |
| NFG 165 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939669 | Humboldt |
| NFG 166 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939670 | Humboldt |
| NFG 167 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939671 | Humboldt |
| NFG 168 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939672 | Humboldt |
| NFG 169 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939673 | Humboldt |
| NFG 17 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939522 | Humboldt |
| NFG 170 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939674 | Humboldt |
| NFG 171 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939675 | Humboldt |
| NFG 172 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939676 | Humboldt |
| NFG 173 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939677 | Humboldt |
| NFG 174 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939678 | Humboldt |
| NFG 175 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939679 | Humboldt |
| NFG 176 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939680 | Humboldt |
| NFG 177 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939681 | Humboldt |
| NFG 178 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939682 | Humboldt |
| NFG 179 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939683 | Humboldt |
| NFG 18 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939523 | Humboldt |
| NFG 180 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939684 | Humboldt |
| NFG 181 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939685 | Humboldt |
| NFG 182 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939686 | Humboldt |
| NFG 183 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939687 | Humboldt |
| NFG 184 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939688 | Humboldt |
| NFG 185 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939689 | Humboldt |
| NFG 186 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939690 | Humboldt |
| NFG 187 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939691 | Humboldt |
| NFG 19 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939524 | Humboldt |
| NFG 2 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939507 | Humboldt |
| NFG 20 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939525 | Humboldt |
| NFG 21 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939526 | Humboldt |
| NFG 22 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939527 | Humboldt |
| NFG 23 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939528 | Humboldt |
| NFG 24 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939529 | Humboldt |
| NFG 25 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939530 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| J

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NFG 26 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939531 | Humboldt |
| NFG 27 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939532 | Humboldt |
| NFG 28 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939533 | Humboldt |
| NFG 29 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939534 | Humboldt |
| NFG 3 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939508 | Humboldt |
| NFG 30 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939535 | Humboldt |
| NFG 31 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939536 | Humboldt |
| NFG 32 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939537 | Humboldt |
| NFG 33 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939538 | Humboldt |
| NFG 34 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939539 | Humboldt |
| NFG 35 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939540 | Humboldt |
| NFG 36 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939541 | Humboldt |
| NFG 37 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939542 | Humboldt |
| NFG 38 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939543 | Humboldt |
| NFG 39 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939544 | Humboldt |
| NFG 4 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939509 | Humboldt |
| NFG 40 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939545 | Humboldt |
| NFG 41 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939546 | Humboldt |
| NFG 42 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939547 | Humboldt |
| NFG 43 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939548 | Humboldt |
| NFG 44 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939549 | Humboldt |
| NFG 45 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939550 | Humboldt |
| NFG 46 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939551 | Humboldt |
| NFG 47 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939552 | Humboldt |
| NFG 48 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939553 | Humboldt |
| NFG 49 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939554 | Humboldt |
| NFG 5 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939510 | Humboldt |
| NFG 50 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939555 | Humboldt |
| NFG 51 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939556 | Humboldt |
| NFG 52 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939557 | Humboldt |
| NFG 53 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939558 | Humboldt |
| NFG 54 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939559 | Humboldt |
| NFG 55 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939560 | Humboldt |
| NFG 56 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939561 | Humboldt |
| NFG 57 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939562 | Humboldt |
| NFG 58 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939563 | Humboldt |
| NFG 59 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939564 | Humboldt |
| NFG 6 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939511 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| K

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NFG 60 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939565 | Humboldt |
| NFG 61 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939566 | Humboldt |
| NFG 62 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939567 | Humboldt |
| NFG 63 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939568 | Humboldt |
| NFG 64 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939569 | Humboldt |
| NFG 65 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939570 | Humboldt |
| NFG 66 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939571 | Humboldt |
| NFG 67 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939572 | Humboldt |
| NFG 68 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939573 | Humboldt |
| NFG 69 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939574 | Humboldt |
| NFG 7 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939512 | Humboldt |
| NFG 70 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939575 | Humboldt |
| NFG 71 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939576 | Humboldt |
| NFG 72 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939577 | Humboldt |
| NFG 73 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939578 | Humboldt |
| NFG 74 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939579 | Humboldt |
| NFG 76 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939580 | Humboldt |
| NFG 78 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939582 | Humboldt |
| NFG 79 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939583 | Humboldt |
| NFG 8 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939513 | Humboldt |
| NFG 80 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939584 | Humboldt |
| NFG 81 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939585 | Humboldt |
| NFG 82 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939586 | Humboldt |
| NFG 83 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939587 | Humboldt |
| NFG 84 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939588 | Humboldt |
| NFG 85 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939589 | Humboldt |
| NFG 86 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939590 | Humboldt |
| NFG 87 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939591 | Humboldt |
| NFG 88 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939592 | Humboldt |
| NFG 89 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939593 | Humboldt |
| NFG 9 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939514 | Humboldt |
| NFG 90 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939594 | Humboldt |
| NFG 91 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939595 | Humboldt |
| NFG 92 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939596 | Humboldt |
| NFG 93 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939597 | Humboldt |
| NFG 94 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939598 | Humboldt |
| NFG 95 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939599 | Humboldt |
| NFG 96 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939600 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| L

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NFG 97 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939601 | Humboldt |
| NFG 98 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939602 | Humboldt |
| NFG 99 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939603 | Humboldt |
| NFG77 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939581 | Humboldt |
| NFRA 1 | 11/07/2007 | Victory Exploration Inc. | NMC977833 | Humboldt |
| NFRA 2 | 11/07/2007 | Victory Exploration Inc. | NMC977834 | Humboldt |
| NFRA 20 | 11/08/2007 | Victory Exploration Inc. | NMC977852 | Humboldt |
| NFRA 3 | 11/07/2007 | Victory Exploration Inc. | NMC977835 | Humboldt |
| NFRA16 | 11/07/2007 | Victory Exploration Inc. | NMC977848 | Humboldt |
| NFRA17 | 11/07/2007 | Victory Exploration Inc. | NMC977849 | Humboldt |
| NFRA18 | 11/07/2007 | Victory Exploration Inc. | NMC977850 | Humboldt |
| NFRA19 | 11/07/2007 | Victory Exploration Inc. | NMC977851 | Humboldt |
| NH 1 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990154 | Humboldt |
| NH 10 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990163 | Humboldt |
| NH 100 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990253 | Humboldt |
| NH 101 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990254 | Humboldt |
| NH 102 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990255 | Humboldt |
| NH 103 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990256 | Humboldt |
| NH 104 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990257 | Humboldt |
| NH 105 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990258 | Humboldt |
| NH 106 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990259 | Humboldt |
| NH 107 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990260 | Humboldt |
| NH 108 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990261 | Humboldt |
| NH 109 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990262 | Humboldt |
| NH 11 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990164 | Humboldt |
| NH 110 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990263 | Humboldt |
| NH 111 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990264 | Humboldt |
| NH 112 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990265 | Humboldt |
| NH 113 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990266 | Humboldt |
| NH 114 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990267 | Humboldt |
| NH 115 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990268 | Humboldt |
| NH 116 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990269 | Humboldt |
| NH 117 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990270 | Humboldt |
| NH 118 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990271 | Humboldt |
| NH 119 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990272 | Humboldt |
| NH 12 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990165 | Humboldt |
| NH 120 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990273 | Humboldt |
| NH 121 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990274 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| M

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 122 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990275 | Humboldt |
| NH 123 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990276 | Humboldt |
| NH 124 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990277 | Humboldt |
| NH 125 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990278 | Humboldt |
| NH 126 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990279 | Humboldt |
| NH 127 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990280 | Humboldt |
| NH 128 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990281 | Humboldt |
| NH 129 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990282 | Humboldt |
| NH 13 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990166 | Humboldt |
| NH 130 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990283 | Humboldt |
| NH 131 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990284 | Humboldt |
| NH 132 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990285 | Humboldt |
| NH 133 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990286 | Humboldt |
| NH 134 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990287 | Humboldt |
| NH 135 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990288 | Humboldt |
| NH 136 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990289 | Humboldt |
| NH 137 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990290 | Humboldt |
| NH 138 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990291 | Humboldt |
| NH 139 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990292 | Humboldt |
| NH 14 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990167 | Humboldt |
| NH 140 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990293 | Humboldt |
| NH 141 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990294 | Humboldt |
| NH 142 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990295 | Humboldt |
| NH 143 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990296 | Humboldt |
| NH 144 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990297 | Humboldt |
| NH 145 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990298 | Humboldt |
| NH 146 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990299 | Humboldt |
| NH 147 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990300 | Humboldt |
| NH 148 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990301 | Humboldt |
| NH 149 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990302 | Humboldt |
| NH 15 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990168 | Humboldt |
| NH 150 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990303 | Humboldt |
| NH 151 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990304 | Humboldt |
| NH 152 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990305 | Humboldt |
| NH 153 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990306 | Humboldt |
| NH 154 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990307 | Humboldt |
| NH 155 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990308 | Humboldt |
| NH 156 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990309 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| N

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 157 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990310 | Humboldt |
| NH 158 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990311 | Humboldt |
| NH 159 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990312 | Humboldt |
| NH 16 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990169 | Humboldt |
| NH 160 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990313 | Humboldt |
| NH 161 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990314 | Humboldt |
| NH 162 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990315 | Humboldt |
| NH 163 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990316 | Humboldt |
| NH 164 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990317 | Humboldt |
| NH 165 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990318 | Humboldt |
| NH 166 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990319 | Humboldt |
| NH 167 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990320 | Humboldt |
| NH 168 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990321 | Humboldt |
| NH 169 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990322 | Humboldt |
| NH 17 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990170 | Humboldt |
| NH 170 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990323 | Humboldt |
| NH 171 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990324 | Humboldt |
| NH 172 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990325 | Humboldt |
| NH 173 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990326 | Humboldt |
| NH 174 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990327 | Humboldt |
| NH 175 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990328 | Humboldt |
| NH 176 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990329 | Humboldt |
| NH 177 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990330 | Humboldt |
| NH 178 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990331 | Humboldt |
| NH 179 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990332 | Humboldt |
| NH 18 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990171 | Humboldt |
| NH 180 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990333 | Humboldt |
| NH 181 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990334 | Humboldt |
| NH 182 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990335 | Humboldt |
| NH 183 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990336 | Humboldt |
| NH 184 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990337 | Humboldt |
| NH 185 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990338 | Humboldt |
| NH 186 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990339 | Humboldt |
| NH 187 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990340 | Humboldt |
| NH 188 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990341 | Humboldt |
| NH 189 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990342 | Humboldt |
| NH 19 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990172 | Humboldt |
| NH 190 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990343 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| O

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 191 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990344 | Humboldt |
| NH 192 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990345 | Humboldt |
| NH 193 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990346 | Humboldt |
| NH 194 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990347 | Humboldt |
| NH 195 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990348 | Humboldt |
| NH 196 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990349 | Humboldt |
| NH 197 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990350 | Humboldt |
| NH 198 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990351 | Humboldt |
| NH 199 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990352 | Humboldt |
| NH 2 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990155 | Humboldt |
| NH 20 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990173 | Humboldt |
| NH 200 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990353 | Humboldt |
| NH 201 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990354 | Humboldt |
| NH 202 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990355 | Humboldt |
| NH 203 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990356 | Humboldt |
| NH 204 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990357 | Humboldt |
| NH 205 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990358 | Humboldt |
| NH 206 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990359 | Humboldt |
| NH 207 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990360 | Humboldt |
| NH 208 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990361 | Humboldt |
| NH 209 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990362 | Humboldt |
| NH 21 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990174 | Humboldt |
| NH 210 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990363 | Humboldt |
| NH 211 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990364 | Humboldt |
| NH 212 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990365 | Humboldt |
| NH 213 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990366 | Humboldt |
| NH 214 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990367 | Humboldt |
| NH 215 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990368 | Humboldt |
| NH 216 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990369 | Humboldt |
| NH 217 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990370 | Humboldt |
| NH 218 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990371 | Humboldt |
| NH 219 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990372 | Humboldt |
| NH 22 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990175 | Humboldt |
| NH 220 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990373 | Humboldt |
| NH 221 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990374 | Humboldt |
| NH 222 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990375 | Humboldt |
| NH 223 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990376 | Humboldt |
| NH 224 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990377 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| P

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 225 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990378 | Humboldt |
| NH 226 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990379 | Humboldt |
| NH 227 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990380 | Humboldt |
| NH 228 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990381 | Humboldt |
| NH 229 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990382 | Humboldt |
| NH 23 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990176 | Humboldt |
| NH 230 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990383 | Humboldt |
| NH 231 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990384 | Humboldt |
| NH 232 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990385 | Humboldt |
| NH 233 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990386 | Humboldt |
| NH 234 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990387 | Humboldt |
| NH 235 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990388 | Humboldt |
| NH 236 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990389 | Humboldt |
| NH 237 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990390 | Humboldt |
| NH 238 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990391 | Humboldt |
| NH 239 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990392 | Humboldt |
| NH 24 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990177 | Humboldt |
| NH 240 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990393 | Humboldt |
| NH 241 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990394 | Humboldt |
| NH 242 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990395 | Humboldt |
| NH 243 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990396 | Humboldt |
| NH 244 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990397 | Humboldt |
| NH 245 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990398 | Humboldt |
| NH 246 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990399 | Humboldt |
| NH 247 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990400 | Humboldt |
| NH 248 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990401 | Humboldt |
| NH 249 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990402 | Humboldt |
| NH 25 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990178 | Humboldt |
| NH 250 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990403 | Humboldt |
| NH 251 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990404 | Humboldt |
| NH 252 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990405 | Humboldt |
| NH 253 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990406 | Humboldt |
| NH 254 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990407 | Humboldt |
| NH 255 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990408 | Humboldt |
| NH 256 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990409 | Humboldt |
| NH 257 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990410 | Humboldt |
| NH 258 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990411 | Humboldt |
| NH 259 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990412 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| Q

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 26 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990179 | Humboldt |
| NH 260 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990413 | Humboldt |
| NH 261 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990414 | Humboldt |
| NH 262 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990415 | Humboldt |
| NH 263 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990416 | Humboldt |
| NH 264 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990417 | Humboldt |
| NH 265 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990418 | Humboldt |
| NH 266 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990419 | Humboldt |
| NH 267 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990420 | Humboldt |
| NH 268 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990421 | Humboldt |
| NH 269 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990422 | Humboldt |
| NH 27 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990180 | Humboldt |
| NH 270 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990423 | Humboldt |
| NH 271 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990424 | Humboldt |
| NH 272 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990425 | Humboldt |
| NH 273 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990426 | Humboldt |
| NH 274 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990427 | Humboldt |
| NH 275 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990428 | Humboldt |
| NH 276 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990429 | Humboldt |
| NH 277 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990430 | Humboldt |
| NH 278 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990431 | Humboldt |
| NH 279 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990432 | Humboldt |
| NH 28 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990181 | Humboldt |
| NH 280 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990433 | Humboldt |
| NH 281 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990434 | Humboldt |
| NH 282 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990435 | Humboldt |
| NH 283 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990436 | Humboldt |
| NH 284 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990437 | Humboldt |
| NH 285 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990438 | Humboldt |
| NH 286 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990439 | Humboldt |
| NH 287 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990440 | Humboldt |
| NH 288 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990441 | Humboldt |
| NH 289 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990442 | Humboldt |
| NH 29 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990182 | Humboldt |
| NH 290 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990443 | Humboldt |
| NH 291 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990444 | Humboldt |
| NH 292 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990445 | Humboldt |
| NH 293 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990446 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| R

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 294 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990447 | Humboldt |
| NH 295 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990448 | Humboldt |
| NH 296 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990449 | Humboldt |
| NH 297 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990450 | Humboldt |
| NH 298 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990451 | Humboldt |
| NH 299 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990452 | Humboldt |
| NH 3 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990156 | Humboldt |
| NH 30 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990183 | Humboldt |
| NH 300 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990453 | Humboldt |
| NH 301 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990454 | Humboldt |
| NH 302 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990455 | Humboldt |
| NH 303 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990456 | Humboldt |
| NH 304 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990457 | Humboldt |
| NH 305 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990458 | Humboldt |
| NH 306 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990459 | Humboldt |
| NH 307 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990460 | Humboldt |
| NH 308 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990461 | Humboldt |
| NH 309 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990462 | Humboldt |
| NH 31 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990184 | Humboldt |
| NH 310 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990463 | Humboldt |
| NH 311 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990464 | Humboldt |
| NH 312 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990465 | Humboldt |
| NH 313 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990466 | Humboldt |
| NH 314 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990467 | Humboldt |
| NH 315 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990468 | Humboldt |
| NH 316 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990469 | Humboldt |
| NH 317 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990470 | Humboldt |
| NH 318 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990471 | Humboldt |
| NH 319 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990472 | Humboldt |
| NH 32 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990185 | Humboldt |
| NH 320 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990473 | Humboldt |
| NH 321 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990474 | Humboldt |
| NH 322 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990475 | Humboldt |
| NH 323 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990476 | Humboldt |
| NH 324 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990477 | Humboldt |
| NH 325 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990478 | Humboldt |
| NH 326 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990479 | Humboldt |
| NH 327 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990480 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| S

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 328 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990481 | Humboldt |
| NH 329 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990482 | Humboldt |
| NH 33 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990186 | Humboldt |
| NH 330 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990483 | Humboldt |
| NH 331 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990484 | Humboldt |
| NH 332 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990485 | Humboldt |
| NH 333 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990486 | Humboldt |
| NH 334 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990487 | Humboldt |
| NH 335 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990488 | Humboldt |
| NH 336 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990489 | Humboldt |
| NH 337 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990490 | Humboldt |
| NH 338 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990491 | Humboldt |
| NH 339 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990492 | Humboldt |
| NH 34 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990187 | Humboldt |
| NH 340 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990493 | Humboldt |
| NH 341 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990494 | Humboldt |
| NH 342 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990495 | Humboldt |
| NH 343 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990496 | Humboldt |
| NH 344 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990497 | Humboldt |
| NH 345 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990498 | Humboldt |
| NH 346 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990499 | Humboldt |
| NH 347 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990500 | Humboldt |
| NH 348 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990501 | Humboldt |
| NH 349 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990502 | Humboldt |
| NH 35 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990188 | Humboldt |
| NH 350 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990503 | Humboldt |
| NH 351 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990504 | Humboldt |
| NH 352 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990505 | Humboldt |
| NH 353 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990506 | Humboldt |
| NH 354 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990507 | Humboldt |
| NH 355 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990508 | Humboldt |
| NH 356 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990509 | Humboldt |
| NH 357 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990510 | Humboldt |
| NH 358 | 5/01/2008 | Hycroft Res & Dev Inc | NMC990511 | Humboldt |
| NH 359 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990512 | Humboldt |
| NH 36 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990189 | Humboldt |
| NH 360 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990513 | Humboldt |
| NH 361 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990514 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| T

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 362 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990515 | Humboldt |
| NH 363 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990516 | Humboldt |
| NH 364 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990517 | Humboldt |
| NH 365 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990518 | Humboldt |
| NH 366 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990519 | Humboldt |
| NH 367 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990520 | Humboldt |
| NH 368 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990521 | Humboldt |
| NH 369 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990522 | Humboldt |
| NH 37 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990190 | Humboldt |
| NH 370 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990523 | Humboldt |
| NH 371 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990524 | Humboldt |
| NH 372 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990525 | Humboldt |
| NH 373 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990526 | Humboldt |
| NH 374 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990527 | Humboldt |
| NH 375 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990528 | Humboldt |
| NH 376 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990529 | Humboldt |
| NH 377 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990530 | Humboldt |
| NH 378 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990531 | Humboldt |
| NH 379 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990532 | Humboldt |
| NH 38 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990191 | Humboldt |
| NH 380 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990533 | Humboldt |
| NH 381 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990534 | Humboldt |
| NH 382 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990535 | Humboldt |
| NH 383 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990536 | Humboldt |
| NH 384 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990537 | Humboldt |
| NH 385 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990538 | Humboldt |
| NH 386 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990539 | Humboldt |
| NH 387 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990540 | Humboldt |
| NH 388 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990541 | Humboldt |
| NH 389 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990542 | Humboldt |
| NH 39 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990192 | Humboldt |
| NH 390 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990543 | Humboldt |
| NH 391 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990544 | Humboldt |
| NH 392 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990545 | Humboldt |
| NH 393 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990546 | Humboldt |
| NH 394 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990547 | Humboldt |
| NH 395 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990548 | Humboldt |
| NH 396 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990549 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| U

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 397 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990550 | Humboldt |
| NH 398 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990551 | Humboldt |
| NH 399 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990552 | Humboldt |
| NH 4 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990157 | Humboldt |
| NH 40 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990193 | Humboldt |
| NH 400 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990553 | Humboldt |
| NH 401 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990554 | Humboldt |
| NH 402 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990555 | Humboldt |
| NH 403 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990556 | Humboldt |
| NH 404 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990557 | Humboldt |
| NH 405 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990558 | Humboldt |
| NH 406 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990559 | Humboldt |
| NH 407 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990560 | Humboldt |
| NH 408 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990561 | Humboldt |
| NH 409 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990562 | Humboldt |
| NH 41 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990194 | Humboldt |
| NH 410 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990563 | Humboldt |
| NH 411 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990564 | Humboldt |
| NH 412 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990565 | Humboldt |
| NH 413 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990566 | Humboldt |
| NH 414 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990567 | Humboldt |
| NH 415 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990568 | Humboldt |
| NH 416 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990569 | Humboldt |
| NH 417 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990570 | Humboldt |
| NH 418 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990571 | Humboldt |
| NH 419 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990572 | Humboldt |
| NH 42 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990195 | Humboldt |
| NH 420 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990573 | Humboldt |
| NH 421 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990574 | Humboldt |
| NH 422 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990575 | Humboldt |
| NH 423 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990576 | Humboldt |
| NH 424 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990577 | Humboldt |
| NH 425 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990578 | Humboldt |
| NH 426 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990579 | Humboldt |
| NH 427 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990580 | Humboldt |
| NH 428 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990581 | Humboldt |
| NH 429 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990582 | Humboldt |
| NH 43 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990196 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| V

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 430 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990583 | Humboldt |
| NH 431 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990584 | Humboldt |
| NH 436 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990589 | Humboldt |
| NH 44 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990197 | Humboldt |
| NH 440 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990593 | Humboldt |
| NH 441 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990594 | Humboldt |
| NH 444 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990597 | Humboldt |
| NH 445 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990598 | Humboldt |
| NH 446 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990599 | Humboldt |
| NH 447 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990600 | Humboldt |
| NH 448 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990601 | Humboldt |
| NH 449 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990602 | Humboldt |
| NH 45 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990198 | Humboldt |
| NH 451 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990604 | Humboldt |
| NH 452 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990605 | Humboldt |
| NH 453 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990606 | Humboldt |
| NH 454 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990607 | Humboldt |
| NH 455 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990608 | Humboldt |
| NH 456 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990609 | Humboldt |
| NH 457 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990610 | Humboldt |
| NH 458 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990611 | Humboldt |
| NH 459 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990612 | Humboldt |
| NH 46 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990199 | Humboldt |
| NH 460 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990613 | Humboldt |
| NH 461 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990614 | Humboldt |
| NH 462 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990615 | Humboldt |
| NH 463 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990616 | Humboldt |
| NH 464 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990617 | Humboldt |
| NH 465 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990618 | Humboldt |
| NH 466 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990619 | Humboldt |
| NH 467 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990620 | Humboldt |
| NH 468 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990621 | Humboldt |
| NH 469 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990622 | Humboldt |
| NH 47 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990200 | Humboldt |
| NH 470 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990623 | Humboldt |
| NH 471 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990624 | Humboldt |
| NH 472 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990625 | Humboldt |
| NH 473 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990626 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| W

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 474 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990627 | Humboldt |
| NH 475 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990628 | Humboldt |
| NH 476 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990629 | Humboldt |
| NH 477 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990630 | Humboldt |
| NH 478 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990631 | Humboldt |
| NH 479 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990632 | Humboldt |
| NH 48 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990201 | Humboldt |
| NH 480 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990633 | Humboldt |
| NH 481 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990634 | Humboldt |
| NH 482 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990635 | Humboldt |
| NH 483 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990636 | Humboldt |
| NH 484 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990637 | Humboldt |
| NH 485 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990638 | Humboldt |
| NH 486 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990639 | Humboldt |
| NH 487 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990640 | Humboldt |
| NH 488 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990641 | Humboldt |
| NH 489 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990642 | Humboldt |
| NH 49 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990202 | Humboldt |
| NH 490 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990643 | Humboldt |
| NH 491 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990644 | Humboldt |
| NH 492 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990645 | Humboldt |
| NH 493 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990646 | Humboldt |
| NH 494 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990647 | Humboldt |
| NH 495 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990648 | Humboldt |
| NH 496 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990649 | Humboldt |
| NH 497 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990650 | Humboldt |
| NH 498 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990651 | Humboldt |
| NH 499 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990652 | Humboldt |
| NH 5 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990158 | Humboldt |
| NH 50 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990203 | Humboldt |
| NH 500 | 4/29/2008 | Hycroft Res & Dev Inc | NMC990653 | Humboldt |
| NH 51 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990204 | Humboldt |
| NH 52 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990205 | Humboldt |
| NH 53 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990206 | Humboldt |
| NH 54 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990207 | Humboldt |
| NH 55 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990208 | Humboldt |
| NH 56 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990209 | Humboldt |
| NH 57 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990210 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| X

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 58 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990211 | Humboldt |
| NH 59 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990212 | Humboldt |
| NH 6 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990159 | Humboldt |
| NH 60 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990213 | Humboldt |
| NH 61 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990214 | Humboldt |
| NH 62 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990215 | Humboldt |
| NH 63 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990216 | Humboldt |
| NH 64 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990217 | Humboldt |
| NH 65 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990218 | Humboldt |
| NH 66 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990219 | Humboldt |
| NH 67 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990220 | Humboldt |
| NH 68 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990221 | Humboldt |
| NH 69 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990222 | Humboldt |
| NH 7 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990160 | Humboldt |
| NH 70 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990223 | Humboldt |
| NH 71 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990224 | Humboldt |
| NH 72 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990225 | Humboldt |
| NH 73 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990226 | Humboldt |
| NH 74 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990227 | Humboldt |
| NH 75 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990228 | Humboldt |
| NH 76 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990229 | Humboldt |
| NH 77 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990230 | Humboldt |
| NH 78 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990231 | Humboldt |
| NH 79 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990232 | Humboldt |
| NH 8 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990161 | Humboldt |
| NH 80 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990233 | Humboldt |
| NH 81 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990234 | Humboldt |
| NH 82 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990235 | Humboldt |
| NH 83 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990236 | Humboldt |
| NH 84 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990237 | Humboldt |
| NH 85 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990238 | Humboldt |
| NH 86 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990239 | Humboldt |
| NH 87 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990240 | Humboldt |
| NH 88 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990241 | Humboldt |
| NH 89 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990242 | Humboldt |
| NH 9 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990162 | Humboldt |
| NH 90 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990243 | Humboldt |
| NH 91 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990244 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| Y

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| NH 92 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990245 | Humboldt |
| NH 93 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990246 | Humboldt |
| NH 94 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990247 | Humboldt |
| NH 95 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990248 | Humboldt |
| NH 96 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990249 | Humboldt |
| NH 97 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990250 | Humboldt |
| NH 98 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990251 | Humboldt |
| NH 99 | 5/03/2008 | Hycroft Res & Dev Inc | NMC990252 | Humboldt |
| NH432 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990585 | Humboldt |
| NH433 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990586 | Humboldt |
| NH434 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990587 | Humboldt |
| NH435 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990588 | Humboldt |
| NH437 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990590 | Humboldt |
| NH438 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990591 | Humboldt |
| NH439 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990592 | Humboldt |
| NH442 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990595 | Humboldt |
| NH443 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990596 | Humboldt |
| NH450 | 4/28/2008 | Hycroft Res & Dev Inc | NMC990603 | Humboldt |
| Pacific #2 | 11/04/1980 | Lewis Frank W | NMC181010 | Humboldt |
| RFG # 39 | 6/28/1987 | Lewis Frank W | NMC436884 | Humboldt |
| RFG # 72 | 6/28/1987 | Lewis Frank W | NMC436912 | Humboldt |
| RFG #0BF | 1/30/1980 | Hrdi | NMC143488 | Humboldt |
| RFG #1 | 12/20/1979 | Hrdi | NMC143252 | Humboldt |
| RFG #10 | 12/20/1979 | Hrdi | NMC143261 | Humboldt |
| RFG #11 | 1/03/1980 | Hrdi | NMC143262 | Humboldt |
| RFG #12 | 1/03/1980 | Hrdi | NMC143263 | Humboldt |
| RFG #12A | 2/20/1980 | Hrdi | NMC143490 | Humboldt |
| RFG #13 | 12/27/1979 | Hrdi | NMC143264 | Humboldt |
| RFG #13A | 2/20/1980 | Hrdi | NMC143491 | Humboldt |
| RFG #15 | 1/03/1980 | Hrdi | NMC143266 | Humboldt |
| RFG #16 | 1/03/1980 | Hrdi | NMC143267 | Humboldt |
| RFG #168 | 2/01/1980 | Hrdi | NMC143347 | Humboldt |
| RFG #169 | 2/01/1980 | Hrdi | NMC143348 | Humboldt |
| RFG #17 | 1/03/1980 | Hrdi | NMC143268 | Humboldt |
| RFG #170 | 2/01/1980 | Hrdi | NMC143349 | Humboldt |
| RFG #171 | 2/01/1980 | Hrdi | NMC143350 | Humboldt |
| RFG #172 | 1/31/1980 | Hrdi | NMC143351 | Humboldt |
| RFG #173 | 1/31/1980 | Hrdi | NMC143352 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| Z

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #174 | 1/31/1980 | Hrdi | NMC143353 | Humboldt |
| RFG #175 | 1/31/1980 | Hrdi | NMC143354 | Humboldt |
| RFG #176 | 1/31/1980 | Hrdi | NMC143355 | Humboldt |
| RFG #177 | 1/31/1980 | Hrdi | NMC143356 | Humboldt |
| RFG #178 | 2/01/1980 | Hrdi | NMC143357 | Humboldt |
| RFG #179 | 2/01/1980 | Hrdi | NMC143358 | Humboldt |
| RFG #18 | 1/03/1980 | Hrdi | NMC143269 | Humboldt |
| RFG #180 | 2/01/1980 | Hrdi | NMC143359 | Humboldt |
| RFG #181 | 2/01/1980 | Hrdi | NMC143360 | Humboldt |
| RFG #182 | 2/01/1980 | Hrdi | NMC143361 | Humboldt |
| RFG #183 | 2/01/1980 | Hrdi | NMC143362 | Humboldt |
| RFG #184 | 2/01/1980 | Hrdi | NMC143363 | Humboldt |
| RFG #185 | 2/01/1980 | Hrdi | NMC143364 | Humboldt |
| RFG #186 | 1/31/1980 | Hrdi | NMC143365 | Humboldt |
| RFG #187 | 2/01/1980 | Hrdi | NMC143366 | Humboldt |
| RFG #188 | 1/31/1980 | Hrdi | NMC143367 | Humboldt |
| RFG #189 | 2/01/1980 | Hrdi | NMC143368 | Humboldt |
| RFG #19 | 1/03/1980 | Hrdi | NMC143270 | Humboldt |
| RFG #190 | 1/31/1980 | Hrdi | NMC143369 | Humboldt |
| RFG #191 | 2/01/1980 | Hrdi | NMC143370 | Humboldt |
| RFG #192 | 1/31/1980 | Hrdi | NMC143371 | Humboldt |
| RFG #193 | 2/01/1980 | Hrdi | NMC143372 | Humboldt |
| RFG #194 | 1/31/1980 | Hrdi | NMC143373 | Humboldt |
| RFG #195 | 2/01/1980 | Hrdi | NMC143374 | Humboldt |
| RFG #196 | 1/31/1980 | Hrdi | NMC143375 | Humboldt |
| RFG #197 | 2/01/1980 | Hrdi | NMC143376 | Humboldt |
| RFG #198 | 1/31/1980 | Hrdi | NMC143377 | Humboldt |
| RFG #199 | 2/01/1980 | Hrdi | NMC143378 | Humboldt |
| RFG #1FS | 1/27/1980 | Hrdi | NMC143489 | Humboldt |
| RFG #2 | 12/20/1979 | Hrdi | NMC143253 | Humboldt |
| RFG #20 | 1/03/1980 | Hrdi | NMC143271 | Humboldt |
| RFG #200 | 1/31/1980 | Hrdi | NMC143379 | Humboldt |
| RFG #201 | 2/05/1980 | Hrdi | NMC143380 | Humboldt |
| RFG #201A | 2/05/1980 | Hrdi | NMC143504 | Humboldt |
| RFG #202 | 1/03/1980 | Hrdi | NMC143381 | Humboldt |
| RFG #203 | 1/30/1980 | Hrdi | NMC143382 | Humboldt |
| RFG #204 | 1/30/1980 | Hrdi | NMC143383 | Humboldt |
| RFG #205 | 1/30/1980 | Hrdi | NMC143384 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| AA

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #206 | 1/30/1980 | Hrdi | NMC143385 | Humboldt |
| RFG #207 | 1/30/1980 | Hrdi | NMC143386 | Humboldt |
| RFG #208 | 1/30/1980 | Hrdi | NMC143387 | Humboldt |
| RFG #209 | 1/30/1980 | Hrdi | NMC143388 | Humboldt |
| RFG #21 | 1/03/1980 | Hrdi | NMC143272 | Humboldt |
| RFG #210 | 1/30/1980 | Hrdi | NMC143389 | Humboldt |
| RFG #211 | 1/30/1980 | Hrdi | NMC143390 | Humboldt |
| RFG #212 | 1/30/1980 | Hrdi | NMC143391 | Humboldt |
| RFG #213 | 1/30/1980 | Hrdi | NMC143392 | Humboldt |
| RFG #214 | 1/30/1980 | Hrdi | NMC143393 | Humboldt |
| RFG #215 | 1/30/1980 | Hrdi | NMC143394 | Humboldt |
| RFG #2158 | 2/14/1980 | Hrdi | NMC143505 | Humboldt |
| RFG #216 | 1/30/1980 | Hrdi | NMC143395 | Humboldt |
| RFG #217 | 1/30/1980 | Hrdi | NMC143396 | Humboldt |
| RFG #2178 | 2/14/1980 | Hrdi | NMC143506 | Humboldt |
| RFG #218 | 2/13/1980 | Hrdi | NMC143397 | Humboldt |
| RFG #2188 | 2/04/1980 | Hrdi | NMC143508 | Humboldt |
| RFG #218A | 2/04/1980 | Hrdi | NMC143507 | Humboldt |
| RFG #219 | 2/13/1980 | Hrdi | NMC143398 | Humboldt |
| RFG #2198 | 2/13/1980 | Hrdi | NMC143509 | Humboldt |
| RFG #22 | 1/03/1980 | Hrdi | NMC143273 | Humboldt |
| RFG #220 | 1/31/1980 | Hrdi | NMC143399 | Humboldt |
| RFG #221 | 1/31/1980 | Hrdi | NMC143400 | Humboldt |
| RFG #222 | 1/31/1980 | Hrdi | NMC143401 | Humboldt |
| RFG #223 | 1/31/1980 | Hrdi | NMC143402 | Humboldt |
| RFG #224 | 1/26/1980 | Hrdi | NMC143403 | Humboldt |
| RFG #225 | 1/26/1980 | Hrdi | NMC143404 | Humboldt |
| RFG #226 | 1/26/1980 | Hrdi | NMC143405 | Humboldt |
| RFG #227 | 1/26/1980 | Hrdi | NMC143406 | Humboldt |
| RFG #22A | 2/20/1980 | Hrdi | NMC143492 | Humboldt |
| RFG #23 | 1/03/1980 | Hrdi | NMC143274 | Humboldt |
| RFG #238F | 1/29/1980 | Hrdi | NMC143510 | Humboldt |
| RFG #239 | 1/26/1980 | Hrdi | NMC143407 | Humboldt |
| RFG #239 | 2/22/1980 | Hrdi | NMC143598 | Humboldt |
| RFG #239A | 2/22/1980 | Hrdi | NMC143511 | Humboldt |
| RFG #24 | 12/22/1979 | Hrdi | NMC143275 | Humboldt |
| RFG #240 | 2/22/1980 | Hrdi | NMC143408 | Humboldt |
| RFG #240 | 2/22/1980 | Hrdi | NMC143597 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| BB

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #241 | 3/11/1980 | Hrdi | NMC143409 | Humboldt |
| RFG #241A | 3/11/1980 | Hrdi | NMC143596 | Humboldt |
| RFG #242 | 3/11/1980 | Hrdi | NMC143410 | Humboldt |
| RFG #243 | 2/01/1980 | Hrdi | NMC143411 | Humboldt |
| RFG #244 | 2/03/1980 | Hrdi | NMC143412 | Humboldt |
| RFG #245 | 2/03/1980 | Hrdi | NMC143413 | Humboldt |
| RFG #246 | 2/03/1980 | Hrdi | NMC143414 | Humboldt |
| RFG #247 | 2/03/1980 | Hrdi | NMC143415 | Humboldt |
| RFG #248 | 2/03/1980 | Hrdi | NMC143416 | Humboldt |
| RFG #25 | 12/22/1979 | Hrdi | NMC143276 | Humboldt |
| RFG #26 | 1/05/1980 | Hrdi | NMC143277 | Humboldt |
| RFG #262 | 1/11/1980 | Hrdi | NMC143487 | Humboldt |
| RFG #264 | 1/11/1980 | Hrdi | NMC143417 | Humboldt |
| RFG #265 | 1/11/1980 | Hrdi | NMC143418 | Humboldt |
| RFG #266 | 1/17/1980 | Hrdi | NMC143419 | Humboldt |
| RFG #267 | 1/17/1980 | Hrdi | NMC143420 | Humboldt |
| RFG #268 | 1/17/1980 | Hrdi | NMC143421 | Humboldt |
| RFG #269 | 1/17/1980 | Hrdi | NMC143422 | Humboldt |
| RFG #27 | 1/05/1980 | Hrdi | NMC143278 | Humboldt |
| RFG #270 | 1/17/1980 | Hrdi | NMC143423 | Humboldt |
| RFG #271 | 1/17/1980 | Hrdi | NMC143424 | Humboldt |
| RFG #28 | 1/05/1980 | Hrdi | NMC143279 | Humboldt |
| RFG #288 | 3/11/1989 | Crofoot Daniel M | NMC546067 | Humboldt |
| RFG #29 | 1/05/1980 | Hrdi | NMC143280 | Humboldt |
| RFG #290 | 3/11/1989 | Crofoot Daniel M | NMC546068 | Humboldt |
| RFG #292 | 3/11/1989 | Crofoot Daniel M | NMC546069 | Humboldt |
| RFG #294 | 3/11/1989 | Crofoot Daniel M | NMC546070 | Humboldt |
| RFG #296 | 3/11/1989 | Crofoot Daniel M | NMC546071 | Humboldt |
| RFG #298 | 2/06/1980 | Hrdi | NMC143494 | Humboldt |
| RFG #298 | 3/11/1989 | Crofoot Daniel M | NMC546072 | Humboldt |
| RFG #29A | 2/06/1980 | Hrdi | NMC143493 | Humboldt |
| RFG #3 | 12/20/1979 | Hrdi | NMC143254 | Humboldt |
| RFG #30 | 12/22/1979 | Hrdi | NMC143281 | Humboldt |
| RFG #300 | 3/11/1989 | Crofoot Daniel M | NMC546073 | Humboldt |
| RFG #302 | 3/11/1989 | Crofoot Daniel M | NMC546074 | Humboldt |
| RFG #304 | 3/11/1989 | Crofoot Daniel M | NMC546075 | Humboldt |
| RFG #305 | 1/18/1980 | Hrdi | NMC143444 | Humboldt |
| RFG #306 | 1/18/1980 | Hrdi | NMC143445 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| CC

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #307 | 1/18/1980 | Hrdi | NMC143446 | Humboldt |
| RFG #30A | 1/05/1980 | Hrdi | NMC143495 | Humboldt |
| RFG #31 | 12/22/1979 | Hrdi | NMC143282 | Humboldt |
| RFG #32 | 12/22/1979 | Hrdi | NMC143283 | Humboldt |
| RFG #322 | 3/11/1989 | Crofoot Daniel M | NMC546076 | Humboldt |
| RFG #323 | 3/11/1989 | Crofoot Daniel M | NMC546077 | Humboldt |
| RFG #324 | 3/11/1989 | Crofoot Daniel M | NMC546078 | Humboldt |
| RFG #325 | 3/11/1989 | Crofoot Daniel M | NMC546079 | Humboldt |
| RFG #326 | 3/11/1989 | Crofoot Daniel M | NMC546080 | Humboldt |
| RFG #327 | 3/11/1989 | Crofoot Daniel M | NMC546081 | Humboldt |
| RFG #328 | 1/11/1980 | Hrdi | NMC143453 | Humboldt |
| RFG #329 | 3/11/1989 | Crofoot Daniel M | NMC546082 | Humboldt |
| RFG #33 | 3/10/1989 | Crofoot Daniel M | NMC546005 | Humboldt |
| RFG #330 | 1/11/1980 | Hrdi | NMC143455 | Humboldt |
| RFG #331 | 3/11/1989 | Crofoot Daniel M | NMC546083 | Humboldt |
| RFG #332 | 1/11/1980 | Hrdi | NMC143457 | Humboldt |
| RFG #333 | 3/11/1989 | Crofoot Daniel M | NMC546084 | Humboldt |
| RFG #334 | 1/11/1980 | Hrdi | NMC143459 | Humboldt |
| RFG #335 | 3/11/1989 | Crofoot Daniel M | NMC546085 | Humboldt |
| RFG #336 | 1/11/1980 | Hrdi | NMC143461 | Humboldt |
| RFG #337 | 3/11/1989 | Crofoot Daniel M | NMC546086 | Humboldt |
| RFG #338 | 1/22/1980 | Hrdi | NMC143463 | Humboldt |
| RFG #339 | 3/11/1989 | Crofoot Daniel M | NMC546087 | Humboldt |
| RFG #34 | 12/22/1979 | Hrdi | NMC143285 | Humboldt |
| RFG #340 | 1/22/1980 | Hrdi | NMC143465 | Humboldt |
| RFG #341 | 3/11/1989 | Crofoot Daniel M | NMC546088 | Humboldt |
| RFG #342 | 1/22/1980 | Hrdi | NMC143467 | Humboldt |
| RFG #343 | 3/11/1989 | Crofoot Daniel M | NMC546089 | Humboldt |
| RFG #35 | 3/10/1989 | Crofoot Daniel M | NMC546006 | Humboldt |
| RFG #358 | 1/31/1980 | Hrdi | NMC143469 | Humboldt |
| RFG #359 | 1/31/1980 | Hrdi | NMC143470 | Humboldt |
| RFG #36 | 12/22/1979 | Hrdi | NMC143287 | Humboldt |
| RFG #360 | 1/31/1980 | Hrdi | NMC143471 | Humboldt |
| RFG #361 | 1/31/1980 | Hrdi | NMC143472 | Humboldt |
| RFG #362 | 1/31/1980 | Homestake Mng Co Of Ca | NMC143473 | Humboldt |
| RFG #362A | 2/05/1980 | Hrdi | NMC143512 | Humboldt |
| RFG #363 | 1/31/1980 | Hrdi | NMC143474 | Humboldt |
| RFG #364 | 1/31/1980 | Homestake Mng Co Of Ca | NMC143475 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| DD

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #364A | 2/05/1980 | Hrdi | NMC143513 | Humboldt |
| RFG #365 | 1/31/1980 | Hrdi | NMC143476 | Humboldt |
| RFG #366 | 1/31/1980 | Homestake Mng Co Of Ca | NMC143477 | Humboldt |
| RFG #366A | 2/06/1980 | Hrdi | NMC143514 | Humboldt |
| RFG #367 | 1/31/1980 | Hrdi | NMC143478 | Humboldt |
| RFG #368 | 2/01/1980 | Homestake Mng Co Of Ca | NMC143479 | Humboldt |
| RFG #368 | 2/07/1980 | Hrdi | NMC143497 | Humboldt |
| RFG #368A | 2/06/1980 | Hrdi | NMC143515 | Humboldt |
| RFG #36A | 2/07/1980 | Hrdi | NMC143496 | Humboldt |
| RFG #37 | 3/10/1989 | Crofoot Daniel M | NMC546007 | Humboldt |
| RFG #38 | 3/10/1989 | Crofoot Daniel M | NMC546008 | Humboldt |
| RFG #39A | 3/10/1989 | Crofoot Daniel M | NMC546009 | Humboldt |
| RFG #4 | 12/20/1979 | Hrdi | NMC143255 | Humboldt |
| RFG #40 | 1/07/1980 | Hrdi | NMC143291 | Humboldt |
| RFG #400 | 10/25/1980 | Hrdi | NMC175062 | Humboldt |
| RFG #401 | 10/25/1980 | Hrdi | NMC175063 | Humboldt |
| RFG #402 | 10/25/1980 | Hrdi | NMC175064 | Humboldt |
| RFG #403 | 10/25/1980 | Hrdi | NMC175065 | Humboldt |
| RFG #404 | 10/17/1980 | Hrdi | NMC175066 | Humboldt |
| RFG #405 | 10/17/1980 | Hrdi | NMC175067 | Humboldt |
| RFG #406 | 10/17/1980 | Hrdi | NMC175068 | Humboldt |
| RFG #407 | 10/17/1980 | Hrdi | NMC175069 | Humboldt |
| RFG #408 | 10/17/1980 | Hrdi | NMC175070 | Humboldt |
| RFG #409 | 10/17/1980 | Hrdi | NMC175071 | Humboldt |
| RFG #41 | 1/07/1980 | Hrdi | NMC143292 | Humboldt |
| RFG #410 | 10/17/1980 | Hrdi | NMC175072 | Humboldt |
| RFG #411 | 10/17/1980 | Hrdi | NMC175073 | Humboldt |
| RFG #412 | 10/17/1980 | Hrdi | NMC175074 | Humboldt |
| RFG #413 | 10/17/1980 | Hrdi | NMC175075 | Humboldt |
| RFG #414 | 10/17/1980 | Hrdi | NMC175076 | Humboldt |
| RFG #415 | 10/17/1980 | Hrdi | NMC175077 | Humboldt |
| RFG #416 | 10/17/1980 | Hrdi | NMC175078 | Humboldt |
| RFG #417 | 10/17/1980 | Hrdi | NMC175079 | Humboldt |
| RFG #418 | 10/17/1980 | Hrdi | NMC175080 | Humboldt |
| RFG #419 | 10/17/1980 | Hrdi | NMC175081 | Humboldt |
| RFG #42 | 3/10/1989 | Crofoot Daniel M | NMC546010 | Humboldt |
| RFG #420 | 10/17/1980 | Hrdi | NMC175082 | Humboldt |
| RFG #421 | 10/17/1980 | Hrdi | NMC175083 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| EE

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #422 | 10/17/1980 | Hrdi | NMC175084 | Humboldt |
| RFG #423 | 10/17/1980 | Hrdi | NMC175085 | Humboldt |
| RFG #424 | 10/17/1980 | Hrdi | NMC175086 | Humboldt |
| RFG #425 | 10/17/1980 | Hrdi | NMC175087 | Humboldt |
| RFG #426 | 10/17/1980 | Hrdi | NMC175088 | Humboldt |
| RFG #43 | 3/10/1989 | Crofoot Daniel M | NMC546011 | Humboldt |
| RFG #44 | 3/10/1989 | Crofoot Daniel M | NMC546012 | Humboldt |
| RFG #45 | 3/10/1989 | Crofoot Daniel M | NMC546013 | Humboldt |
| RFG #46 | 3/10/1989 | Crofoot Daniel M | NMC546014 | Humboldt |
| RFG #47 | 3/10/1989 | Crofoot Daniel M | NMC546015 | Humboldt |
| RFG #48 | 3/10/1989 | Crofoot Daniel M | NMC546016 | Humboldt |
| RFG #49 | 3/10/1989 | Crofoot Daniel M | NMC546017 | Humboldt |
| RFG #5 | 12/20/1979 | Hrdi | NMC143256 | Humboldt |
| RFG #50 | 3/10/1989 | Crofoot Daniel M | NMC546018 | Humboldt |
| RFG #51 | 3/10/1989 | Crofoot Daniel M | NMC546019 | Humboldt |
| RFG #52 | 3/10/1989 | Crofoot Daniel M | NMC546020 | Humboldt |
| RFG #52A | 3/10/1989 | Crofoot Daniel M | NMC546021 | Humboldt |
| RFG #53 | 3/10/1989 | Crofoot Daniel M | NMC546022 | Humboldt |
| RFG #54 | 3/10/1989 | Crofoot Daniel M | NMC546023 | Humboldt |
| RFG #55 | 1/09/1980 | Hrdi | NMC143306 | Humboldt |
| RFG #56 | 1/09/1980 | Hrdi | NMC143307 | Humboldt |
| RFG #57 | 3/10/1989 | Crofoot Daniel M | NMC546024 | Humboldt |
| RFG #58 | 3/10/1989 | Crofoot Daniel M | NMC546025 | Humboldt |
| RFG #59 | 3/10/1989 | Crofoot Daniel M | NMC546026 | Humboldt |
| RFG #6 | 12/20/1979 | Hrdi | NMC143257 | Humboldt |
| RFG #60 | 3/10/1989 | Crofoot Daniel M | NMC546027 | Humboldt |
| RFG #61 | 3/10/1989 | Crofoot Daniel M | NMC546028 | Humboldt |
| RFG #62 | 3/10/1989 | Crofoot Daniel M | NMC546029 | Humboldt |
| RFG #63 | 3/10/1989 | Crofoot Daniel M | NMC546030 | Humboldt |
| RFG #64 | 3/10/1989 | Crofoot Daniel M | NMC546031 | Humboldt |
| RFG #65 | 3/10/1989 | Crofoot Daniel M | NMC546032 | Humboldt |
| RFG #66 | 3/10/1989 | Crofoot Daniel M | NMC546033 | Humboldt |
| RFG #67 | 3/10/1989 | Crofoot Daniel M | NMC546034 | Humboldt |
| RFG #67A | 3/10/1989 | Crofoot Daniel M | NMC546035 | Humboldt |
| RFG #68 | 3/10/1989 | Crofoot Daniel M | NMC546036 | Humboldt |
| RFG #68A | 3/10/1989 | Crofoot Daniel M | NMC546037 | Humboldt |
| RFG #69 | 1/10/1980 | Hrdi | NMC143320 | Humboldt |
| RFG #7 | 12/20/1979 | Hrdi | NMC143258 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| FF

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG #70 | 1/10/1980 | Hrdi | NMC143321 | Humboldt |
| RFG #71 | 3/11/1989 | Crofoot Daniel M | NMC546038 | Humboldt |
| RFG #73 | 3/11/1989 | Crofoot Daniel M | NMC546039 | Humboldt |
| RFG #74 | 3/11/1989 | Crofoot Daniel M | NMC546040 | Humboldt |
| RFG #75 | 3/11/1989 | Crofoot Daniel M | NMC546041 | Humboldt |
| RFG #76 | 3/11/1989 | Crofoot Daniel M | NMC546042 | Humboldt |
| RFG #77 | 3/11/1989 | Crofoot Daniel M | NMC546043 | Humboldt |
| RFG #78 | 3/11/1989 | Crofoot Daniel M | NMC546044 | Humboldt |
| RFG #79 | 3/11/1989 | Crofoot Daniel M | NMC546045 | Humboldt |
| RFG #8 | 12/20/1979 | Hrdi | NMC143259 | Humboldt |
| RFG #80 | 3/11/1989 | Crofoot Daniel M | NMC546046 | Humboldt |
| RFG #81 | 3/11/1989 | Crofoot Daniel M | NMC546047 | Humboldt |
| RFG #81A | 3/11/1989 | Crofoot Daniel M | NMC546048 | Humboldt |
| RFG #82 | 3/11/1989 | Crofoot Daniel M | NMC546049 | Humboldt |
| RFG #83 | 3/11/1989 | Crofoot Daniel M | NMC546050 | Humboldt |
| RFG #85 | 3/11/1989 | Crofoot Daniel M | NMC546052 | Humboldt |
| RFG #86 | 3/11/1989 | Crofoot Daniel M | NMC546053 | Humboldt |
| RFG #87 | 3/11/1989 | Crofoot Daniel M | NMC546054 | Humboldt |
| RFG #88 | 3/11/1989 | Crofoot Daniel M | NMC546055 | Humboldt |
| RFG #89 | 3/11/1989 | Crofoot Daniel M | NMC546056 | Humboldt |
| RFG #9 | 12/20/1979 | Hrdi | NMC143260 | Humboldt |
| RFG #90 | 3/11/1989 | Crofoot Daniel M | NMC546057 | Humboldt |
| RFG #91 | 3/11/1989 | Crofoot Daniel M | NMC546058 | Humboldt |
| RFG #92 | 3/11/1989 | Crofoot Daniel M | NMC546059 | Humboldt |
| RFG #93 | 3/11/1989 | Crofoot Daniel M | NMC546060 | Humboldt |
| RFG #94 | 3/11/1989 | Crofoot Daniel M | NMC546061 | Humboldt |
| RFG #95 | 3/11/1989 | Crofoot Daniel M | NMC546062 | Humboldt |
| RFG #97 | 3/11/1989 | Crofoot Daniel M | NMC546063 | Humboldt |
| RFG 102 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932886 | Humboldt |
| RFG 126 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932903 | Humboldt |
| RFG 128 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932904 | Humboldt |
| RFG 258 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932912 | Humboldt |
| RFG 260 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932913 | Humboldt |
| RFG 286 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932914 | Humboldt |
| RFG 287 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932915 | Humboldt |
| RFG 289 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932916 | Humboldt |
| RFG 291 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932917 | Humboldt |
| RFG 293 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932918 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| GG

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFG 295 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932919 | Humboldt |
| RFG 297 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932920 | Humboldt |
| RFG 299 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932921 | Humboldt |
| RFG 301 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932922 | Humboldt |
| RFG 303 | 5/20/2006 | Hycroft Res & Dev Inc | NMC932923 | Humboldt |
| RFG 94A | 5/20/2006 | Hycroft Res & Dev Inc | NMC932885 | Humboldt |
| RFG Fraction #427 | 10/17/1980 | Hrdi | NMC175089 | Humboldt |
| RFG#14 | 1/03/1980 | Hrdi | NMC143265 | Humboldt |
| RFG#328X | 5/15/1984 | Lewis Frank W | NMC307553 | Humboldt |
| RFG#84 | 3/11/1989 | Crofoot Daniel M | NMC546051 | Humboldt |
| RFG-130-A | 1/08/2008 | Victory Exploration Inc. | NMC985654 | Humboldt |
| RFGM 1 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008652 | Humboldt |
| RFGM 10 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008661 | Humboldt |
| RFGM 10A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008716 | Humboldt |
| RFGM 11 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008662 | Humboldt |
| RFGM 11A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008717 | Humboldt |
| RFGM 12 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008663 | Humboldt |
| RFGM 12A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008718 | Humboldt |
| RFGM 12B | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008728 | Humboldt |
| RFGM 13 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008664 | Humboldt |
| RFGM 13A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008719 | Humboldt |
| RFGM 13B | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008729 | Humboldt |
| RFGM 14 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008665 | Humboldt |
| RFGM 14A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008720 | Humboldt |
| RFGM 15 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008666 | Humboldt |
| RFGM 16 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008667 | Humboldt |
| RFGM 17 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008668 | Humboldt |
| RFGM 171 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008691 | Humboldt |
| RFGM 172 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008692 | Humboldt |
| RFGM 176 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008693 | Humboldt |
| RFGM 177 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008694 | Humboldt |
| RFGM 177A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008725 | Humboldt |
| RFGM 178 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008695 | Humboldt |
| RFGM 179 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008696 | Humboldt |
| RFGM 18 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008669 | Humboldt |
| RFGM 180 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008697 | Humboldt |
| RFGM 181 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008698 | Humboldt |
| RFGM 182 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008699 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| HH

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFGM 183 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008700 | Humboldt |
| RFGM 184 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008701 | Humboldt |
| RFGM 186 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008702 | Humboldt |
| RFGM 187 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008703 | Humboldt |
| RFGM 18A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008721 | Humboldt |
| RFGM 19 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008670 | Humboldt |
| RFGM 2 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008653 | Humboldt |
| RFGM 20 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008671 | Humboldt |
| RFGM 20A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008722 | Humboldt |
| RFGM 21 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008672 | Humboldt |
| RFGM 22 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008673 | Humboldt |
| RFGM 22A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008723 | Humboldt |
| RFGM 22B | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008730 | Humboldt |
| RFGM 23 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008674 | Humboldt |
| RFGM 24 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008675 | Humboldt |
| RFGM 25 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008676 | Humboldt |
| RFGM 26 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008677 | Humboldt |
| RFGM 27 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008678 | Humboldt |
| RFGM 27A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008724 | Humboldt |
| RFGM 28 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008679 | Humboldt |
| RFGM 29 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008680 | Humboldt |
| RFGM 3 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008654 | Humboldt |
| RFGM 30 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008681 | Humboldt |
| RFGM 31 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008682 | Humboldt |
| RFGM 32 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008683 | Humboldt |
| RFGM 33 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008684 | Humboldt |
| RFGM 34 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008685 | Humboldt |
| RFGM 357 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008704 | Humboldt |
| RFGM 358 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008705 | Humboldt |
| RFGM 358A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008726 | Humboldt |
| RFGM 359 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008706 | Humboldt |
| RFGM 359A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008727 | Humboldt |
| RFGM 360 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008707 | Humboldt |
| RFGM 361 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008708 | Humboldt |
| RFGM 363 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008709 | Humboldt |
| RFGM 365 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008710 | Humboldt |
| RFGM 367 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008711 | Humboldt |
| RFGM 4 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008655 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| II

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| RFGM 40 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008686 | Humboldt |
| RFGM 41 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008687 | Humboldt |
| RFGM 42 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008688 | Humboldt |
| RFGM 43 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008689 | Humboldt |
| RFGM 5 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008656 | Humboldt |
| RFGM 57 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008690 | Humboldt |
| RFGM 6 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008657 | Humboldt |
| RFGM 6A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008712 | Humboldt |
| RFGM 7 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008658 | Humboldt |
| RFGM 7A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008713 | Humboldt |
| RFGM 8 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008659 | Humboldt |
| RFGM 8A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008714 | Humboldt |
| RFGM 9 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008660 | Humboldt |
| RFGM 9A | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008715 | Humboldt |
| SH 1 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990654 | Humboldt |
| SH 10 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990663 | Humboldt |
| SH 100 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990753 | Humboldt |
| SH 101 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990754 | Humboldt |
| SH 102 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990755 | Humboldt |
| SH 103 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990756 | Humboldt |
| SH 104 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990757 | Humboldt |
| SH 105 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990758 | Humboldt |
| SH 106 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990759 | Humboldt |
| SH 107 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990760 | Humboldt |
| SH 108 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990761 | Humboldt |
| SH 109 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990762 | Humboldt |
| SH 11 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990664 | Humboldt |
| SH 110 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990763 | Humboldt |
| SH 111 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990764 | Humboldt |
| SH 112 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990765 | Humboldt |
| SH 113 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990766 | Humboldt |
| SH 114 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990767 | Humboldt |
| SH 115 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990768 | Humboldt |
| SH 116 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990769 | Humboldt |
| SH 117 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990770 | Humboldt |
| SH 118 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990771 | Humboldt |
| SH 119 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990772 | Humboldt |
| SH 12 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990665 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| JJ

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| SH 120 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990773 | Humboldt |
| SH 121 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990774 | Humboldt |
| SH 122 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990775 | Humboldt |
| SH 123 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990776 | Humboldt |
| SH 124 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990777 | Humboldt |
| SH 125 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990778 | Humboldt |
| SH 126 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990779 | Humboldt |
| SH 127 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990780 | Humboldt |
| SH 128 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990781 | Humboldt |
| SH 129 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990782 | Humboldt |
| SH 13 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990666 | Humboldt |
| SH 130 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990783 | Humboldt |
| SH 131 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990784 | Humboldt |
| SH 132 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990785 | Humboldt |
| SH 133 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990786 | Humboldt |
| SH 134 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990787 | Humboldt |
| SH 135 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990788 | Humboldt |
| SH 136 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990789 | Humboldt |
| SH 137 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990790 | Humboldt |
| SH 138 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990791 | Humboldt |
| SH 139 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990792 | Humboldt |
| SH 14 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990667 | Humboldt |
| SH 140 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990793 | Humboldt |
| SH 141 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990794 | Humboldt |
| SH 142 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990795 | Humboldt |
| SH 143 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990796 | Humboldt |
| SH 144 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990797 | Humboldt |
| SH 145 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990798 | Humboldt |
| SH 146 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990799 | Humboldt |
| SH 147 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990800 | Humboldt |
| SH 148 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990801 | Humboldt |
| SH 149 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990802 | Humboldt |
| SH 15 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990668 | Humboldt |
| SH 150 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990803 | Humboldt |
| SH 151 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990804 | Humboldt |
| SH 152 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990805 | Humboldt |
| SH 153 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990806 | Humboldt |
| SH 154 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990807 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| KK

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| SH 155 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990808 | Humboldt |
| SH 156 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990809 | Humboldt |
| SH 157 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990810 | Humboldt |
| SH 158 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990811 | Humboldt |
| SH 159 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990812 | Humboldt |
| SH 16 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990669 | Humboldt |
| SH 160 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990813 | Humboldt |
| SH 161 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990814 | Humboldt |
| SH 162 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990815 | Humboldt |
| SH 163 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990816 | Humboldt |
| SH 164 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990817 | Humboldt |
| SH 165 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990818 | Humboldt |
| SH 166 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990819 | Humboldt |
| SH 167 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990820 | Humboldt |
| SH 168 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990821 | Humboldt |
| SH 17 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990670 | Humboldt |
| SH 18 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990671 | Humboldt |
| SH 19 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990672 | Humboldt |
| SH 2 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990655 | Humboldt |
| SH 20 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990673 | Humboldt |
| SH 21 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990674 | Humboldt |
| SH 22 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990675 | Humboldt |
| SH 23 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990676 | Humboldt |
| SH 24 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990677 | Humboldt |
| SH 25 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990678 | Humboldt |
| SH 26 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990679 | Humboldt |
| SH 27 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990680 | Humboldt |
| SH 28 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990681 | Humboldt |
| SH 29 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990682 | Humboldt |
| SH 3 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990656 | Humboldt |
| SH 30 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990683 | Humboldt |
| SH 31 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990684 | Humboldt |
| SH 32 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990685 | Humboldt |
| SH 33 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990686 | Humboldt |
| SH 34 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990687 | Humboldt |
| SH 35 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990688 | Humboldt |
| SH 350 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991002 | Humboldt |
| SH 351 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991003 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| LL

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| SH 352 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991004 | Humboldt |
| SH 36 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990689 | Humboldt |
| SH 37 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990690 | Humboldt |
| SH 373 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991025 | Humboldt |
| SH 374 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991026 | Humboldt |
| SH 375 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991027 | Humboldt |
| SH 376 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991028 | Humboldt |
| SH 377 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991029 | Humboldt |
| SH 378 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991030 | Humboldt |
| SH 379 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991031 | Humboldt |
| SH 38 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990691 | Humboldt |
| SH 380 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991032 | Humboldt |
| SH 381 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991033 | Humboldt |
| SH 39 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990692 | Humboldt |
| SH 396 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991048 | Humboldt |
| SH 397 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991049 | Humboldt |
| SH 398 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991050 | Humboldt |
| SH 399 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991051 | Humboldt |
| SH 400 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991052 | Humboldt |
| SH 401 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991053 | Humboldt |
| SH 402 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991054 | Humboldt |
| SH 403 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991055 | Humboldt |
| SH 404 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991056 | Humboldt |
| SH 405 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991057 | Humboldt |
| SH 406 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991058 | Humboldt |
| SH 41 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990694 | Humboldt |
| SH 419 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991071 | Humboldt |
| SH 42 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990695 | Humboldt |
| SH 420 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991072 | Humboldt |
| SH 421 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991073 | Humboldt |
| SH 422 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991074 | Humboldt |
| SH 423 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991075 | Humboldt |
| SH 424 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991076 | Humboldt |
| SH 425 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991077 | Humboldt |
| SH 426 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991078 | Humboldt |
| SH 427 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991079 | Humboldt |
| SH 428 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991080 | Humboldt |
| SH 429 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991081 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| MM

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| SH 43 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990696 | Humboldt |
| SH 430 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991082 | Humboldt |
| SH 439 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991090 | Humboldt |
| SH 44 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990697 | Humboldt |
| SH 440 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991091 | Humboldt |
| SH 441 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991092 | Humboldt |
| SH 442 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991093 | Humboldt |
| SH 443 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991094 | Humboldt |
| SH 444 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991095 | Humboldt |
| SH 445 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991096 | Humboldt |
| SH 446 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991097 | Humboldt |
| SH 447 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991098 | Humboldt |
| SH 448 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991099 | Humboldt |
| SH 449 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991100 | Humboldt |
| SH 45 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990698 | Humboldt |
| SH 450 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991101 | Humboldt |
| SH 451 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991102 | Humboldt |
| SH 452 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991103 | Humboldt |
| SH 453 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991104 | Humboldt |
| SH 454 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991105 | Humboldt |
| SH 455 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991106 | Humboldt |
| SH 456 | 4/21/2008 | Hycroft Res & Dev Inc | NMC991107 | Humboldt |
| SH 46 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990699 | Humboldt |
| SH 47 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990700 | Humboldt |
| SH 48 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990701 | Humboldt |
| SH 49 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990702 | Humboldt |
| SH 5 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990658 | Humboldt |
| SH 50 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990703 | Humboldt |
| SH 51 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990704 | Humboldt |
| SH 52 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990705 | Humboldt |
| SH 53 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990706 | Humboldt |
| SH 54 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990707 | Humboldt |
| SH 55 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990708 | Humboldt |
| SH 56 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990709 | Humboldt |
| SH 57 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990710 | Humboldt |
| SH 58 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990711 | Humboldt |
| SH 59 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990712 | Humboldt |
| SH 6 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990659 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| NN

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| SH 60 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990713 | Humboldt |
| SH 61 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990714 | Humboldt |
| SH 62 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990715 | Humboldt |
| SH 63 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990716 | Humboldt |
| SH 64 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990717 | Humboldt |
| SH 65 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990718 | Humboldt |
| SH 66 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990719 | Humboldt |
| SH 67 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990720 | Humboldt |
| SH 68 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990721 | Humboldt |
| SH 69 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990722 | Humboldt |
| SH 7 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990660 | Humboldt |
| SH 70 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990723 | Humboldt |
| SH 71 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990724 | Humboldt |
| SH 72 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990725 | Humboldt |
| SH 73 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990726 | Humboldt |
| SH 74 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990727 | Humboldt |
| SH 75 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990728 | Humboldt |
| SH 76 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990729 | Humboldt |
| SH 77 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990730 | Humboldt |
| SH 78 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990731 | Humboldt |
| SH 79 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990732 | Humboldt |
| SH 8 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990661 | Humboldt |
| SH 80 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990733 | Humboldt |
| SH 81 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990734 | Humboldt |
| SH 82 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990735 | Humboldt |
| SH 83 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990736 | Humboldt |
| SH 84 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990737 | Humboldt |
| SH 85 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990738 | Humboldt |
| SH 86 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990739 | Humboldt |
| SH 87 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990740 | Humboldt |
| SH 88 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990741 | Humboldt |
| SH 89 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990742 | Humboldt |
| SH 9 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990662 | Humboldt |
| SH 90 | 4/05/2008 | Hycroft Res & Dev Inc | NMC990743 | Humboldt |
| SH 91 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990744 | Humboldt |
| SH 92 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990745 | Humboldt |
| SH 93 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990746 | Humboldt |
| SH 94 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990747 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| OO

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |
| SH 95 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990748 | Humboldt |
| SH 96 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990749 | Humboldt |
| SH 97 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990750 | Humboldt |
| SH 98 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990751 | Humboldt |
| SH 99 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990752 | Humboldt |
| SH4 | 4/20/2008 | Hycroft Res & Dev Inc | NMC990657 | Humboldt |
| SH40 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990693 | Humboldt |
| SL 1 | 10/18/2012 | Hycroft Res & Dev Inc | NMC1080086 | Humboldt |
| SL 2 | 10/18/2012 | Hycroft Res & Dev Inc | NMC1080087 | Humboldt |
| SL 3 | 10/18/2012 | Hycroft Res & Dev Inc | NMC1080088 | Humboldt |
| SL 4 | 10/18/2012 | Hycroft Res & Dev Inc | NMC1080089 | Humboldt |
| SL 5 | 10/18/2012 | Hycroft Res & Dev Inc | NMC1080090 | Humboldt |
| SL 6 | 10/18/2012 | Hycroft Res & Dev Inc | NMC1080091 | Humboldt |
| Sulphate | 11/04/1980 | Lewis Frank W | NMC181011 | Humboldt |
| Triple L #1 | 10/13/1979 | Lewis Frank W | NMC127534 | Humboldt |
| Triple L #2 | 10/13/1979 | Lewis Frank W | NMC127535 | Humboldt |
| Triple L #3 | 10/13/1979 | Lewis Frank W | NMC127536 | Humboldt |
| Triple L #4 | 10/13/1979 | Lewis Frank W | NMC127537 | Humboldt |
| Triple L #5 | 10/13/1979 | Lewis Frank W | NMC127538 | Humboldt |
| WKM-1 | 9/30/1997 | F W Lewis Inc | NMC780688 | Humboldt |
| WKM-10 | 9/30/1997 | F W Lewis Inc | NMC780697 | Humboldt |
| WKM-11 | 9/30/1997 | F W Lewis Inc | NMC780698 | Humboldt |
| WKM-12 | 9/30/1997 | F W Lewis Inc | NMC780699 | Humboldt |
| WKM-13 | 9/30/1997 | F W Lewis Inc | NMC780700 | Humboldt |
| WKM-14 | 9/30/1997 | F W Lewis Inc | NMC780701 | Humboldt |
| WKM-15 | 9/30/1997 | F W Lewis Inc | NMC780702 | Humboldt |
| WKM-16 | 9/30/1997 | F W Lewis Inc | NMC780703 | Humboldt |
| WKM-17 | 9/30/1997 | F W Lewis Inc | NMC780704 | Humboldt |
| WKM-18 | 9/30/1997 | F W Lewis Inc | NMC780705 | Humboldt |
| WKM-19 | 10/01/1997 | F W Lewis Inc | NMC780706 | Humboldt |
| WKM-2 | 9/30/1997 | F W Lewis Inc | NMC780689 | Humboldt |
| WKM-20 | 10/01/1997 | F W Lewis Inc | NMC780707 | Humboldt |
| WKM-21 | 10/01/1997 | F W Lewis Inc | NMC780708 | Humboldt |
| WKM-22 | 10/01/1997 | F W Lewis Inc | NMC780709 | Humboldt |
| WKM-23 | 10/01/1997 | F W Lewis Inc | NMC780710 | Humboldt |
| WKM-24 | 10/01/1997 | F W Lewis Inc | NMC780711 | Humboldt |
| WKM-25 | 10/01/1997 | F W Lewis Inc | NMC780712 | Humboldt |
| WKM-26 | 10/01/1997 | F W Lewis Inc | NMC780713 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| PP

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| WKM-27 | 10/01/1997 | F W Lewis Inc | NMC780714 | Humboldt |
| WKM-28 | 10/01/1997 | F W Lewis Inc | NMC780715 | Humboldt |
| WKM-29 | 10/01/1997 | F W Lewis Inc | NMC780716 | Humboldt |
| WKM-3 | 9/30/1997 | F W Lewis Inc | NMC780690 | Humboldt |
| WKM-30 | 10/01/1997 | F W Lewis Inc | NMC780717 | Humboldt |
| WKM-31 | 10/01/1997 | F W Lewis Inc | NMC780718 | Humboldt |
| WKM-32 | 10/01/1997 | F W Lewis Inc | NMC780719 | Humboldt |
| WKM-33 | 10/01/1997 | F W Lewis Inc | NMC780720 | Humboldt |
| WKM-34 | 10/01/1997 | F W Lewis Inc | NMC780721 | Humboldt |
| WKM-35 | 10/01/1997 | F W Lewis Inc | NMC780722 | Humboldt |
| WKM-36 | 10/01/1997 | F W Lewis Inc | NMC780723 | Humboldt |
| WKM-37 | 10/01/1997 | F W Lewis Inc | NMC780724 | Humboldt |
| WKM-38 | 10/01/1997 | F W Lewis Inc | NMC780725 | Humboldt |
| WKM-39 | 10/01/1997 | F W Lewis Inc | NMC780726 | Humboldt |
| WKM-4 | 9/30/1997 | F W Lewis Inc | NMC780691 | Humboldt |
| WKM-40 | 10/01/1997 | F W Lewis Inc | NMC780727 | Humboldt |
| WKM-41 | 10/01/1997 | F W Lewis Inc | NMC780728 | Humboldt |
| WKM-42 | 10/01/1997 | F W Lewis Inc | NMC780729 | Humboldt |
| WKM-43 | 10/01/1997 | F W Lewis Inc | NMC780730 | Humboldt |
| WKM-44 | 10/01/1997 | F W Lewis Inc | NMC780731 | Humboldt |
| WKM-45 | 10/01/1997 | F W Lewis Inc | NMC780732 | Humboldt |
| WKM-46 | 10/01/1997 | F W Lewis Inc | NMC780733 | Humboldt |
| WKM-47 | 10/01/1997 | F W Lewis Inc | NMC780734 | Humboldt |
| WKM-48 | 10/01/1997 | F W Lewis Inc | NMC780735 | Humboldt |
| WKM-5 | 9/30/1997 | F W Lewis Inc | NMC780692 | Humboldt |
| WKM-50 | 10/01/1997 | F W Lewis Inc | NMC780736 | Humboldt |
| WKM-51 | 10/02/1997 | F W Lewis Inc | NMC780737 | Humboldt |
| WKM-52 | 10/02/1997 | F W Lewis Inc | NMC780738 | Humboldt |
| WKM-53 | 10/02/1997 | F W Lewis Inc | NMC780739 | Humboldt |
| WKM-54 | 10/02/1997 | F W Lewis Inc | NMC780740 | Humboldt |
| WKM-55 | 10/02/1997 | F W Lewis Inc | NMC780741 | Humboldt |
| WKM-56 | 10/02/1997 | F W Lewis Inc | NMC780742 | Humboldt |
| WKM-57 | 10/02/1997 | F W Lewis Inc | NMC780743 | Humboldt |
| WKM-58 | 10/02/1997 | F W Lewis Inc | NMC780744 | Humboldt |
| WKM-6 | 9/30/1997 | F W Lewis Inc | NMC780693 | Humboldt |
| WKM-60 | 10/06/1997 | F W Lewis Inc | NMC780745 | Humboldt |
| WKM-62 | 10/06/1997 | F W Lewis Inc | NMC780746 | Humboldt |
| WKM-64 | 10/06/1997 | F W Lewis Inc | NMC780747 | Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| QQ

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| WKM-7 | 9/30/1997 | F W Lewis Inc | NMC780694 | Humboldt |
| WKM-8 | 9/30/1997 | F W Lewis Inc | NMC780695 | Humboldt |
| WKM-9 | 9/30/1997 | F W Lewis Inc | NMC780696 | Humboldt |
| FG 49 | 12/18/2013 | Hycroft Res & Dev Inc | NMC1100166 | Pershing |
| FG 71 | 12/18/2013 | Hycroft Res & Dev Inc | NMC1100167 | Pershing |
| HRD1212 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102169 | Pershing |
| HRDI 218 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102176 | Pershing |
| HRDI 219 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102177 | Pershing |
| HRDI 1 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100176 | Pershing |
| HRDI 10 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100185 | Pershing |
| HRDI 100 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102058 | Pershing |
| HRDI 101 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102059 | Pershing |
| HRDI 102 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102060 | Pershing |
| HRDI 103 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102061 | Pershing |
| HRDI 104 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102062 | Pershing |
| HRDI 105 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102063 | Pershing |
| HRDI 106 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102064 | Pershing |
| HRDI 107 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102065 | Pershing |
| HRDI 108 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102066 | Pershing |
| HRDI 109 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102067 | Pershing |
| HRDI 11 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100186 | Pershing |
| HRDI 110 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102068 | Pershing |
| HRDI 111 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102069 | Pershing |
| HRDI 112 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102070 | Pershing |
| HRDI 113 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102071 | Pershing |
| HRDI 114 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102072 | Pershing |
| HRDI 115 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102073 | Pershing |
| HRDI 116 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102074 | Pershing |
| HRDI 117 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102075 | Pershing |
| HRDI 118 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102076 | Pershing |
| HRDI 119 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102077 | Pershing |
| HRDI 12 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100187 | Pershing |
| HRDI 120 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102078 | Pershing |
| HRDI 121 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102079 | Pershing |
| HRDI 122 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102080 | Pershing |
| HRDI 123 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102081 | Pershing |
| HRDI 124 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102082 | Pershing |
| HRDI 125 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102083 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| RR

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| HRDI 126 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102084 | Pershing |
| HRDI 127 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102085 | Pershing |
| HRDI 128 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102086 | Pershing |
| HRDI 129 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102087 | Pershing |
| HRDI 13 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100188 | Pershing |
| HRDI 130 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102088 | Pershing |
| HRDI 131 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102089 | Pershing |
| HRDI 132 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102090 | Pershing |
| HRDI 133 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102091 | Pershing |
| HRDI 134 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102092 | Pershing |
| HRDI 135 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102093 | Pershing |
| HRDI 136 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102094 | Pershing |
| HRDI 137 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102095 | Pershing |
| HRDI 138 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102096 | Pershing |
| HRDI 139 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102097 | Pershing |
| HRDI 14 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100189 | Pershing |
| HRDI 140 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102098 | Pershing |
| HRDI 141 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102099 | Pershing |
| HRDI 142 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102100 | Pershing |
| HRDI 143 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102101 | Pershing |
| HRDI 144 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102102 | Pershing |
| HRDI 145 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102103 | Pershing |
| HRDI 146 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102104 | Pershing |
| HRDI 147 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102105 | Pershing |
| HRDI 148 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102106 | Pershing |
| HRDI 149 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102107 | Pershing |
| HRDI 15 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100190 | Pershing |
| HRDI 150 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102108 | Pershing |
| HRDI 151 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102109 | Pershing |
| HRDI 152 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102110 | Pershing |
| HRDI 153 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102111 | Pershing |
| HRDI 154 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102112 | Pershing |
| HRDI 155 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102113 | Pershing |
| HRDI 156 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102114 | Pershing |
| HRDI 157 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102115 | Pershing |
| HRDI 158 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102116 | Pershing |
| HRDI 159 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102117 | Pershing |
| HRDI 16 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100191 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| SS

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| HRDI 160 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102118 | Pershing |
| HRDI 161 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102119 | Pershing |
| HRDI 162 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102120 | Pershing |
| HRDI 163 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102121 | Pershing |
| HRDI 164 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102122 | Pershing |
| HRDI 165 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102123 | Pershing |
| HRDI 166 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102124 | Pershing |
| HRDI 167 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102125 | Pershing |
| HRDI 168 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102126 | Pershing |
| HRDI 169 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102127 | Pershing |
| HRDI 17 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100192 | Pershing |
| HRDI 170 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102128 | Pershing |
| HRDI 171 | 4/9/2014 | Hycroft Res & Dev Inc | NMC1102129 | Pershing |
| HRDI 172 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102130 | Pershing |
| HRDI 173 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102131 | Pershing |
| HRDI 174 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102132 | Pershing |
| HRDI 175 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102133 | Pershing |
| HRDI 176 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102134 | Pershing |
| HRDI 177 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102135 | Pershing |
| HRDI 178 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102136 | Pershing |
| HRDI 179 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102137 | Pershing |
| HRDI 18 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100193 | Pershing |
| HRDI 180 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102138 | Pershing |
| HRDI 181 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102139 | Pershing |
| HRDI 182 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102140 | Pershing |
| HRDI 183 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102141 | Pershing |
| HRDI 184 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102142 | Pershing |
| HRDI 185 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102143 | Pershing |
| HRDI 186 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102144 | Pershing |
| HRDI 187 | 4/11/2014 | Hycroft Res & Dev Inc | NMC1102145 | Pershing |
| HRDI 188 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102146 | Pershing |
| HRDI 189 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102147 | Pershing |
| HRDI 19 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100194 | Pershing |
| HRDI 190 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102148 | Pershing |
| HRDI 191 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102149 | Pershing |
| HRDI 192 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102150 | Pershing |
| HRDI 193 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102151 | Pershing |
| HRDI 194 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102152 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| TT

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| HRDI 195 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102153 | Pershing |
| HRDI 196 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102154 | Pershing |
| HRDI 197 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102155 | Pershing |
| HRDI 198 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102156 | Pershing |
| HRDI 199 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102157 | Pershing |
| HRDI 2 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100177 | Pershing |
| HRDI 20 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100195 | Pershing |
| HRDI 200 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102158 | Pershing |
| HRDI 201 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102159 | Pershing |
| HRDI 202 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102160 | Pershing |
| HRDI 203 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102161 | Pershing |
| HRDI 204 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102162 | Pershing |
| HRDI 205 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102163 | Pershing |
| HRDI 206 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102164 | Pershing |
| HRDI 207 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102165 | Pershing |
| HRDI 208 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102166 | Pershing |
| HRDI 209 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102167 | Pershing |
| HRDI 21 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100196 | Pershing |
| HRDI 210 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102168 | Pershing |
| HRDI 211 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102170 | Pershing |
| HRDI 213 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102171 | Pershing |
| HRDI 214 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102172 | Pershing |
| HRDI 215 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102173 | Pershing |
| HRDI 216 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102174 | Pershing |
| HRDI 217 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102175 | Pershing |
| HRDI 22 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100197 | Pershing |
| HRDI 220 | 4/16/2014 | Hycroft Res & Dev Inc | NMC1102178 | Pershing |
| HRDI 221 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102179 | Pershing |
| HRDI 222 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102180 | Pershing |
| HRDI 223 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102181 | Pershing |
| HRDI 23 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100198 | Pershing |
| HRDI 24 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100199 | Pershing |
| HRDI 25 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100200 | Pershing |
| HRDI 26 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100201 | Pershing |
| HRDI 27 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100202 | Pershing |
| HRDI 28 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100203 | Pershing |
| HRDI 29 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100204 | Pershing |
| HRDI 3 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100178 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| UU

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| HRDI 30 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100205 | Pershing |
| HRDI 31 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100206 | Pershing |
| HRDI 32 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100207 | Pershing |
| HRDI 33 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100208 | Pershing |
| HRDI 34 | 12/18/2013 | Hycroft Res & Dev Inc | NMC1100209 | Pershing |
| HRDI 35 | 12/18/2013 | Hycroft Res & Dev Inc | NMC1100210 | Pershing |
| HRDI 36 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100211 | Pershing |
| HRDI 37 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100212 | Pershing |
| HRDI 38 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100213 | Pershing |
| HRDI 39 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100214 | Pershing |
| HRDI 4 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100179 | Pershing |
| HRDI 40 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100215 | Pershing |
| HRDI 41 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100216 | Pershing |
| HRDI 42 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100217 | Pershing |
| HRDI 43 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100218 | Pershing |
| HRDI 44 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100219 | Pershing |
| HRDI 45 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100220 | Pershing |
| HRDI 46 | 12/17/2013 | Hycroft Res & Dev Inc | NMC1100221 | Pershing |
| HRDI 47 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102005 | Pershing |
| HRDI 48 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102006 | Pershing |
| HRDI 49 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102007 | Pershing |
| HRDI 5 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100180 | Pershing |
| HRDI 50 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102008 | Pershing |
| HRDI 51 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102009 | Pershing |
| HRDI 52 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102010 | Pershing |
| HRDI 53 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102011 | Pershing |
| HRDI 54 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102012 | Pershing |
| HRDI 55 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102013 | Pershing |
| HRDI 56 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102014 | Pershing |
| HRDI 57 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102015 | Pershing |
| HRDI 58 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102016 | Pershing |
| HRDI 59 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102017 | Pershing |
| HRDI 6 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100181 | Pershing |
| HRDI 60 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102018 | Pershing |
| HRDI 61 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102019 | Pershing |
| HRDI 62 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102020 | Pershing |
| HRDI 63 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102021 | Pershing |
| HRDI 64 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102022 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| VV

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| HRDI 65 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102023 | Pershing |
| HRDI 66 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102024 | Pershing |
| HRDI 67 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102025 | Pershing |
| HRDI 68 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102026 | Pershing |
| HRDI 69 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102027 | Pershing |
| HRDI 7 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100182 | Pershing |
| HRDI 70 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102028 | Pershing |
| HRDI 71 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102029 | Pershing |
| HRDI 72 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102030 | Pershing |
| HRDI 73 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102031 | Pershing |
| HRDI 74 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102032 | Pershing |
| HRDI 75 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102033 | Pershing |
| HRDI 76 | 4/7/2014 | Hycroft Res & Dev Inc | NMC1102034 | Pershing |
| HRDI 77 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102035 | Pershing |
| HRDI 78 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102036 | Pershing |
| HRDI 79 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102037 | Pershing |
| HRDI 8 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100183 | Pershing |
| HRDI 80 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102038 | Pershing |
| HRDI 81 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102039 | Pershing |
| HRDI 82 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102040 | Pershing |
| HRDI 83 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102041 | Pershing |
| HRDI 84 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102042 | Pershing |
| HRDI 85 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102043 | Pershing |
| HRDI 86 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102044 | Pershing |
| HRDI 87 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102045 | Pershing |
| HRDI 88 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102046 | Pershing |
| HRDI 89 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102047 | Pershing |
| HRDI 9 | 12/16/2013 | Hycroft Res & Dev Inc | NMC1100184 | Pershing |
| HRDI 90 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102048 | Pershing |
| HRDI 91 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102049 | Pershing |
| HRDI 92 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102050 | Pershing |
| HRDI 93 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102051 | Pershing |
| HRDI 94 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102052 | Pershing |
| HRDI 95 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102053 | Pershing |
| HRDI 96 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102054 | Pershing |
| HRDI 97 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102055 | Pershing |
| HRDI 98 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102056 | Pershing |
| HRDI 99 | 4/8/2014 | Hycroft Res & Dev Inc | NMC1102057 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| WW

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NC 102 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027940 | Pershing |
| NC 103 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027941 | Pershing |
| NC 104 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027942 | Pershing |
| NC 105 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027943 | Pershing |
| NC 106 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027944 | Pershing |
| NC 107 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027945 | Pershing |
| NC 108 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027946 | Pershing |
| NC 109 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027947 | Pershing |
| NC 133 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027971 | Pershing |
| NC 134 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027972 | Pershing |
| NC 135 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027973 | Pershing |
| NC 136 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027974 | Pershing |
| NC 137 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027975 | Pershing |
| NC 138 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027976 | Pershing |
| NC 139 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027977 | Pershing |
| NC 140 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027978 | Pershing |
| NC 141 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027979 | Pershing |
| NC 142 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027980 | Pershing |
| NC 143 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027981 | Pershing |
| NC 144 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027982 | Pershing |
| NC 145 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027983 | Pershing |
| NC 146 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027984 | Pershing |
| NC 147 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027985 | Pershing |
| NC 148 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027986 | Pershing |
| NC 149 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027987 | Pershing |
| NC 150 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027988 | Pershing |
| NC 171 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028009 | Pershing |
| NC 172 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028010 | Pershing |
| NC 173 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028011 | Pershing |
| NC 174 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028012 | Pershing |
| NC 175 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028013 | Pershing |
| NC 176 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028014 | Pershing |
| NC 177 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028015 | Pershing |
| NC 178 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028016 | Pershing |
| NC 179 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028017 | Pershing |
| NC 180 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028018 | Pershing |
| NC 181 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028019 | Pershing |
| NC 182 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028020 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| XX

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NC 183 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028021 | Pershing |
| NC 184 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028022 | Pershing |
| NC 185 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028023 | Pershing |
| NC 186 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028024 | Pershing |
| NC 187 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028025 | Pershing |
| NC 188 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028026 | Pershing |
| NC 206 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028044 | Pershing |
| NC 207 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028045 | Pershing |
| NC 208 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028046 | Pershing |
| NC 209 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028047 | Pershing |
| NC 210 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028048 | Pershing |
| NC 211 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028049 | Pershing |
| NC 212 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028050 | Pershing |
| NC 213 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028051 | Pershing |
| NC 214 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028052 | Pershing |
| NC 215 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028053 | Pershing |
| NC 216 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028054 | Pershing |
| NC 217 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028055 | Pershing |
| NC 218 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028056 | Pershing |
| NC 219 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028057 | Pershing |
| NC 220 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028058 | Pershing |
| NC 221 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028059 | Pershing |
| NC 222 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028060 | Pershing |
| NC 223 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028061 | Pershing |
| NC 241 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028079 | Pershing |
| NC 242 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028080 | Pershing |
| NC 243 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028081 | Pershing |
| NC 244 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028082 | Pershing |
| NC 245 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028083 | Pershing |
| NC 246 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028084 | Pershing |
| NC 247 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028085 | Pershing |
| NC 248 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028086 | Pershing |
| NC 249 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028087 | Pershing |
| NC 250 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028088 | Pershing |
| NC 251 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028089 | Pershing |
| NC 252 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028090 | Pershing |
| NC 253 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028091 | Pershing |
| NC 254 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028092 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| YY

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NC 255 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028093 | Pershing |
| NC 256 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028094 | Pershing |
| NC 257 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028095 | Pershing |
| NC 258 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028096 | Pershing |
| NC 275 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028113 | Pershing |
| NC 276 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028114 | Pershing |
| NC 277 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028115 | Pershing |
| NC 278 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028116 | Pershing |
| NC 279 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028117 | Pershing |
| NC 280 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028118 | Pershing |
| NC 281 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028119 | Pershing |
| NC 282 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028120 | Pershing |
| NC 283 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028121 | Pershing |
| NC 284 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028122 | Pershing |
| NC 285 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028123 | Pershing |
| NC 286 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028124 | Pershing |
| NC 287 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028125 | Pershing |
| NC 288 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028126 | Pershing |
| NC 289 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028127 | Pershing |
| NC 290 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028128 | Pershing |
| NC 291 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028129 | Pershing |
| NC 292 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028130 | Pershing |
| NC 307 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028145 | Pershing |
| NC 308 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028146 | Pershing |
| NC 309 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028147 | Pershing |
| NC 310 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028148 | Pershing |
| NC 311 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028149 | Pershing |
| NC 312 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028150 | Pershing |
| NC 313 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028151 | Pershing |
| NC 314 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028152 | Pershing |
| NC 315 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028153 | Pershing |
| NC 316 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028154 | Pershing |
| NC 317 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028155 | Pershing |
| NC 318 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028156 | Pershing |
| NC 319 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028157 | Pershing |
| NC 320 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028158 | Pershing |
| NC 321 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028159 | Pershing |
| NC 322 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028160 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| ZZ

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NC 323 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028161 | Pershing |
| NC 324 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028162 | Pershing |
| OS 1 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078793 | Pershing |
| OS 10 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078802 | Pershing |
| OS 11 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078803 | Pershing |
| OS 12 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078804 | Pershing |
| OS 2 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078794 | Pershing |
| OS 3 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078795 | Pershing |
| OS 4 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078796 | Pershing |
| OS 5 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078797 | Pershing |
| OS 6 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078798 | Pershing |
| OS 7 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078799 | Pershing |
| OS 8 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078800 | Pershing |
| OS 9 | 9/11/2012 | Hycroft Res & Dev Inc | NMC1078801 | Pershing |
| OSC 1 | 10/28/2010 | Hycroft Res & Dev Inc | NMC1035889 | Pershing |
| OSC 2 | 10/28/2010 | Hycroft Res & Dev Inc | NMC1035890 | Pershing |
| OSC 3 | 10/28/2010 | Hycroft Res & Dev Inc | NMC1035891 | Pershing |
| OSC 35 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035895 | Pershing |
| OSC 36 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035896 | Pershing |
| OSC 37 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035897 | Pershing |
| OSC 38 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035898 | Pershing |
| OSC 39 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035899 | Pershing |
| OSC 4 | 10/28/2010 | Hycroft Res & Dev Inc | NMC1035892 | Pershing |
| OSC 40 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035900 | Pershing |
| OSC 41 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035901 | Pershing |
| OSC 42 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035902 | Pershing |
| OSC 43 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035903 | Pershing |
| OSC 44 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035904 | Pershing |
| OSC 45 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035905 | Pershing |
| OSC 46 | 10/29/2010 | Hycroft Res & Dev Inc | NMC1035906 | Pershing |
| OSC 47 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035907 | Pershing |
| OSC 48 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035908 | Pershing |
| OSC 49 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035909 | Pershing |
| OSC 5 | 10/28/2010 | Hycroft Res & Dev Inc | NMC1035893 | Pershing |
| OSC 50 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035910 | Pershing |
| OSC 51 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035911 | Pershing |
| OSC 52 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035912 | Pershing |
| OSC 53 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035913 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| AAA

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| OSC 54 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035914 | Pershing |
| OSC 55 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035915 | Pershing |
| OSC 56 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035916 | Pershing |
| OSC 57 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035917 | Pershing |
| OSC 58 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035918 | Pershing |
| OSC 59 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035919 | Pershing |
| OSC 6 | 10/28/2010 | Hycroft Res & Dev Inc | NMC1035894 | Pershing |
| OSC 60 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035920 | Pershing |
| OSC 61 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035921 | Pershing |
| OSC 62 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035922 | Pershing |
| OSC 63 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035923 | Pershing |
| OSC 64 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035924 | Pershing |
| OSC 65 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035925 | Pershing |
| OSC 66 | 10/31/2010 | Hycroft Res & Dev Inc | NMC1035926 | Pershing |
| OSC 67 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035927 | Pershing |
| OSC 68 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035928 | Pershing |
| OSC 69 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035929 | Pershing |
| OSC 70 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035930 | Pershing |
| OSC 71 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035931 | Pershing |
| OSC 72 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035932 | Pershing |
| OSC 73 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035933 | Pershing |
| OSC 74 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035934 | Pershing |
| OSC 75 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035935 | Pershing |
| OSC 76 | 11/1/2010 | Hycroft Res & Dev Inc | NMC1035936 | Pershing |
| RMK 1 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078774 | Pershing |
| RMK 10 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078783 | Pershing |
| RMK 11 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078784 | Pershing |
| RMK 12 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078785 | Pershing |
| RMK 13 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078786 | Pershing |
| RMK 14 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078787 | Pershing |
| RMK 15 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078788 | Pershing |
| RMK 16 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078789 | Pershing |
| RMK 17 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078790 | Pershing |
| RMK 18 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078791 | Pershing |
| RMK 19 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078792 | Pershing |
| RMK 2 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078775 | Pershing |
| RMK 3 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078776 | Pershing |
| RMK 4 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078777 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| BBB

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| RMK 5 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078778 | Pershing |
| RMK 6 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078779 | Pershing |
| RMK 7 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078780 | Pershing |
| RMK 8 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078781 | Pershing |
| RMK 9 | 9/27/2012 | Hycroft Res & Dev Inc | NMC1078782 | Pershing |
| WCR 100 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076520 | Pershing |
| WCR 101 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076521 | Pershing |
| WCR 102 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076522 | Pershing |
| WCR 103 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076523 | Pershing |
| WCR 104 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076524 | Pershing |
| WCR 105 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076525 | Pershing |
| WCR 106 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076526 | Pershing |
| WCR 107 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076527 | Pershing |
| WCR 108 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076528 | Pershing |
| WCR 109 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076529 | Pershing |
| WCR 11 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076453 | Pershing |
| WCR 110 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076530 | Pershing |
| WCR 111 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076531 | Pershing |
| WCR 112 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076532 | Pershing |
| WCR 113 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076533 | Pershing |
| WCR 114 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076534 | Pershing |
| WCR 115 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076535 | Pershing |
| WCR 116 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076536 | Pershing |
| WCR 117 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076537 | Pershing |
| WCR 12 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076454 | Pershing |
| WCR 13 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076455 | Pershing |
| WCR 14 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076456 | Pershing |
| WCR 15 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076457 | Pershing |
| WCR 16 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076458 | Pershing |
| WCR 17 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076459 | Pershing |
| WCR 18 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076460 | Pershing |
| WCR 19 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076461 | Pershing |
| WCR 20 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076462 | Pershing |
| WCR 21 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076463 | Pershing |
| WCR 22 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076464 | Pershing |
| WCR 23 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076465 | Pershing |
| WCR 24 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076466 | Pershing |
| WCR 25 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076467 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| CCC

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| WCR 26 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076468 | Pershing |
| WCR 27 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076469 | Pershing |
| WCR 28 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076470 | Pershing |
| WCR 29 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076471 | Pershing |
| WCR 30 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076472 | Pershing |
| WCR 31 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076473 | Pershing |
| WCR 32 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076474 | Pershing |
| WCR 33 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076475 | Pershing |
| WCR 34 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076476 | Pershing |
| WCR 35 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076477 | Pershing |
| WCR 36 | 7/26/2012 | Hycroft Res & Dev Inc | NMC1076478 | Pershing |
| WCR 47 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076479 | Pershing |
| WCR 48 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076480 | Pershing |
| WCR 49 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076481 | Pershing |
| WCR 50 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076482 | Pershing |
| WCR 51 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076483 | Pershing |
| WCR 52 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076484 | Pershing |
| WCR 53 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076485 | Pershing |
| WCR 54 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076486 | Pershing |
| WCR 55 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076487 | Pershing |
| WCR 56 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076488 | Pershing |
| WCR 57 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076489 | Pershing |
| WCR 58 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076490 | Pershing |
| WCR 59 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076491 | Pershing |
| WCR 60 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076492 | Pershing |
| WCR 61 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076493 | Pershing |
| WCR 62 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076494 | Pershing |
| WCR 63 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076495 | Pershing |
| WCR 64 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076496 | Pershing |
| WCR 65 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076497 | Pershing |
| WCR 66 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076498 | Pershing |
| WCR 67 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076499 | Pershing |
| WCR 68 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076500 | Pershing |
| WCR 69 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076501 | Pershing |
| WCR 70 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076502 | Pershing |
| WCR 71 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076503 | Pershing |
| WCR 72 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076504 | Pershing |
| WCR 73 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076505 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| DDD

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| WCR 74 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076506 | Pershing |
| WCR 75 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076507 | Pershing |
| WCR 76 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076508 | Pershing |
| WCR 77 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076509 | Pershing |
| WCR 78 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076510 | Pershing |
| WCR 79 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076511 | Pershing |
| WCR 80 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076512 | Pershing |
| WCR 81 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076513 | Pershing |
| WCR 82 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076514 | Pershing |
| WCR 83 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076515 | Pershing |
| WCR 84 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076516 | Pershing |
| WCR 97 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076517 | Pershing |
| WCR 98 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076518 | Pershing |
| WCR 99 | 7/25/2012 | Hycroft Res & Dev Inc | NMC1076519 | Pershing |
| CKC#8 | 9/6/1973 | Crofoot Daniel M | NMC 88355 | Pershing |
| CKC#9 | 9/6/1973 | Crofoot Daniel M | NMC 88356 | Pershing |
| FG 1 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939059 | Pershing |
| FG 10 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939068 | Pershing |
| FG 100 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939157 | Pershing |
| FG 101 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939158 | Pershing |
| FG 102 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939159 | Pershing |
| FG 103 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939160 | Pershing |
| FG 104 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939161 | Pershing |
| FG 105 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939162 | Pershing |
| FG 106 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939163 | Pershing |
| FG 107 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939164 | Pershing |
| FG 108 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939165 | Pershing |
| FG 109 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939166 | Pershing |
| FG 11 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939069 | Pershing |
| FG 110 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939167 | Pershing |
| FG 111 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939168 | Pershing |
| FG 112 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939169 | Pershing |
| FG 113 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939170 | Pershing |
| FG 114 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939171 | Pershing |
| FG 115 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939172 | Pershing |
| FG 116 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939173 | Pershing |
| FG 12 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939070 | Pershing |
| FG 121 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939174 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| EEE

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FG 122 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939175 | Pershing |
| FG 123 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939176 | Pershing |
| FG 124 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939177 | Pershing |
| FG 125 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939178 | Pershing |
| FG 126 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939179 | Pershing |
| FG 127 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939180 | Pershing |
| FG 13 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939071 | Pershing |
| FG 130 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939181 | Pershing |
| FG 131 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939182 | Pershing |
| FG 132 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939183 | Pershing |
| FG 133 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939184 | Pershing |
| FG 134 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939185 | Pershing |
| FG 135 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939186 | Pershing |
| FG 136 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939187 | Pershing |
| FG 137 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939188 | Pershing |
| FG 138 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939189 | Pershing |
| FG 139 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939190 | Pershing |
| FG 14 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939072 | Pershing |
| FG 140 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939191 | Pershing |
| FG 141 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939192 | Pershing |
| FG 142 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939193 | Pershing |
| FG 143 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939194 | Pershing |
| FG 144 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939195 | Pershing |
| FG 145 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939196 | Pershing |
| FG 146 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939197 | Pershing |
| FG 147 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939198 | Pershing |
| FG 148 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939199 | Pershing |
| FG 149 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939200 | Pershing |
| FG 15 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939073 | Pershing |
| FG 150 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939201 | Pershing |
| FG 151 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939202 | Pershing |
| FG 152 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939203 | Pershing |
| FG 153 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939204 | Pershing |
| FG 154 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939205 | Pershing |
| FG 155 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939206 | Pershing |
| FG 156 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939207 | Pershing |
| FG 157 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939208 | Pershing |
| FG 158 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939209 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| FFF

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FG 159 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939210 | Pershing |
| FG 16 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939074 | Pershing |
| FG 160 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939211 | Pershing |
| FG 161 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939212 | Pershing |
| FG 162 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939213 | Pershing |
| FG 164 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939214 | Pershing |
| FG 165 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939215 | Pershing |
| FG 166 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939216 | Pershing |
| FG 167 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939217 | Pershing |
| FG 17 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939075 | Pershing |
| FG 173 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939218 | Pershing |
| FG 174 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939219 | Pershing |
| FG 175 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939220 | Pershing |
| FG 176 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939221 | Pershing |
| FG 177 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939222 | Pershing |
| FG 178 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939223 | Pershing |
| FG 179 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939224 | Pershing |
| FG 18 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939076 | Pershing |
| FG 180 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939225 | Pershing |
| FG 181 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939226 | Pershing |
| FG 182 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939227 | Pershing |
| FG 183 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939228 | Pershing |
| FG 184 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939229 | Pershing |
| FG 185 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939230 | Pershing |
| FG 186 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939231 | Pershing |
| FG 187 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939232 | Pershing |
| FG 188 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939233 | Pershing |
| FG 189 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939234 | Pershing |
| FG 19 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939077 | Pershing |
| FG 190 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939235 | Pershing |
| FG 191 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939236 | Pershing |
| FG 192 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939237 | Pershing |
| FG 193 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939238 | Pershing |
| FG 194 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939239 | Pershing |
| FG 195 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939240 | Pershing |
| FG 196 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939241 | Pershing |
| FG 197 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939242 | Pershing |
| FG 198 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939243 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| GGG

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FG 199 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939244 | Pershing |
| FG 2 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939060 | Pershing |
| FG 20 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939078 | Pershing |
| FG 200 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939245 | Pershing |
| FG 201 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939246 | Pershing |
| FG 202 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939247 | Pershing |
| FG 21 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939079 | Pershing |
| FG 215 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939248 | Pershing |
| FG 216 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939249 | Pershing |
| FG 217 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939250 | Pershing |
| FG 218 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939251 | Pershing |
| FG 219 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939252 | Pershing |
| FG 22 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939080 | Pershing |
| FG 220 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939253 | Pershing |
| FG 221 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939254 | Pershing |
| FG 222 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939255 | Pershing |
| FG 227 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939260 | Pershing |
| FG 228 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939261 | Pershing |
| FG 229 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939262 | Pershing |
| FG 23 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939081 | Pershing |
| FG 230 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939263 | Pershing |
| FG 231 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939264 | Pershing |
| FG 232 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939265 | Pershing |
| FG 233 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939266 | Pershing |
| FG 234 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939267 | Pershing |
| FG 235 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939268 | Pershing |
| FG 236 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939269 | Pershing |
| FG 237 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939270 | Pershing |
| FG 238 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939271 | Pershing |
| FG 239 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939272 | Pershing |
| FG 24 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939082 | Pershing |
| FG 240 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939273 | Pershing |
| FG 241 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939274 | Pershing |
| FG 242 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939275 | Pershing |
| FG 243 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939276 | Pershing |
| FG 244 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939277 | Pershing |
| FG 245 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939278 | Pershing |
| FG 246 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939279 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| HHH

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FG 247 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939280 | Pershing |
| FG 248 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939281 | Pershing |
| FG 249 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939282 | Pershing |
| FG 25 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939083 | Pershing |
| FG 26 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939084 | Pershing |
| FG 262 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939283 | Pershing |
| FG 263 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939284 | Pershing |
| FG 264 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939285 | Pershing |
| FG 265 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939286 | Pershing |
| FG 266 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939287 | Pershing |
| FG 267 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939288 | Pershing |
| FG 268 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939289 | Pershing |
| FG 269 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939290 | Pershing |
| FG 27 | 9/5/2006 | Hycroft Res & Dev Inc | NMC 939085 | Pershing |
| FG 276 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939297 | Pershing |
| FG 277 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939298 | Pershing |
| FG 278 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939299 | Pershing |
| FG 279 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939300 | Pershing |
| FG 28 | 9/5/2006 | Hycroft Res & Dev Inc | NMC 939086 | Pershing |
| FG 280 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939301 | Pershing |
| FG 281 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939302 | Pershing |
| FG 282 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939303 | Pershing |
| FG 283 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939304 | Pershing |
| FG 284 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939305 | Pershing |
| FG 285 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939306 | Pershing |
| FG 286 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939307 | Pershing |
| FG 287 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939308 | Pershing |
| FG 288 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939309 | Pershing |
| FG 289 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939310 | Pershing |
| FG 29 | 9/5/2006 | Hycroft Res & Dev Inc | NMC 939087 | Pershing |
| FG 290 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939311 | Pershing |
| FG 291 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939312 | Pershing |
| FG 292 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939313 | Pershing |
| FG 293 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939314 | Pershing |
| FG 294 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939315 | Pershing |
| FG 295 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939316 | Pershing |
| FG 296 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939317 | Pershing |
| FG 297 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939318 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| III

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unpatented Claim Name** | **Location Date** | **Claimant** | **BLM Serial Number** | **Filing County** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FG 298 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939319 | Pershing |
| FG 299 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939320 | Pershing |
| FG 3 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939061 | Pershing |
| FG 30 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939088 | Pershing |
| FG 300 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939321 | Pershing |
| FG 301 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939322 | Pershing |
| FG 302 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939323 | Pershing |
| FG 31 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939089 | Pershing |
| FG 311 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939324 | Pershing |
| FG 312 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939325 | Pershing |
| FG 313 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939326 | Pershing |
| FG 314 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939327 | Pershing |
| FG 315 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939328 | Pershing |
| FG 316 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939329 | Pershing |
| FG 317 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939330 | Pershing |
| FG 318 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939331 | Pershing |
| FG 32 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939090 | Pershing |
| FG 325 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939338 | Pershing |
| FG 326 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939339 | Pershing |
| FG 327 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939340 | Pershing |
| FG 328 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939341 | Pershing |
| FG 329 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939342 | Pershing |
| FG 33 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939091 | Pershing |
| FG 330 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939343 | Pershing |
| FG 331 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939344 | Pershing |
| FG 332 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939345 | Pershing |
| FG 333 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939346 | Pershing |
| FG 334 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939347 | Pershing |
| FG 335 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939348 | Pershing |
| FG 336 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939349 | Pershing |
| FG 337 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939350 | Pershing |
| FG 338 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939351 | Pershing |
| FG 339 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939352 | Pershing |
| FG 34 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939092 | Pershing |
| FG 340 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939353 | Pershing |
| FG 341 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939354 | Pershing |
| FG 342 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939355 | Pershing |
| FG 343 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939356 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| JJJ

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| FG 344 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939357 | Pershing |
| FG 345 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939358 | Pershing |
| FG 346 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939359 | Pershing |
| FG 347 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939360 | Pershing |
| FG 349 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939362 | Pershing |
| FG 35 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939093 | Pershing |
| FG 350 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939363 | Pershing |
| FG 351 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939364 | Pershing |
| FG 36 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939094 | Pershing |
| FG 360 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939365 | Pershing |
| FG 361 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939366 | Pershing |
| FG 362 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939367 | Pershing |
| FG 363 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939368 | Pershing |
| FG 364 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939369 | Pershing |
| FG 365 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939370 | Pershing |
| FG 366 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939371 | Pershing |
| FG 367 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939372 | Pershing |
| FG 37 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939095 | Pershing |
| FG 378 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939383 | Pershing |
| FG 379 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939384 | Pershing |
| FG 380 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939385 | Pershing |
| FG 381 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939386 | Pershing |
| FG 382 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939387 | Pershing |
| FG 383 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939388 | Pershing |
| FG 384 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939389 | Pershing |
| FG 385 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939390 | Pershing |
| FG 386 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939391 | Pershing |
| FG 387 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939392 | Pershing |
| FG 388 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939393 | Pershing |
| FG 389 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939394 | Pershing |
| FG 39 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939097 | Pershing |
| FG 390 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939395 | Pershing |
| FG 391 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939396 | Pershing |
| FG 392 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939397 | Pershing |
| FG 393 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939398 | Pershing |
| FG 394 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939399 | Pershing |
| FG 395 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939400 | Pershing |
| FG 396 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939401 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| KKK

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| FG 397 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939402 | Pershing |
| FG 398 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939403 | Pershing |
| FG 399 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939404 | Pershing |
| FG 4 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939062 | Pershing |
| FG 40 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939098 | Pershing |
| FG 400 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939405 | Pershing |
| FG 401 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939406 | Pershing |
| FG 402 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939407 | Pershing |
| FG 403 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939408 | Pershing |
| FG 404 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939409 | Pershing |
| FG 405 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939410 | Pershing |
| FG 406 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939411 | Pershing |
| FG 407 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939412 | Pershing |
| FG 408 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939413 | Pershing |
| FG 409 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939414 | Pershing |
| FG 41 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939099 | Pershing |
| FG 410 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939415 | Pershing |
| FG 411 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939416 | Pershing |
| FG 412 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939417 | Pershing |
| FG 413 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939418 | Pershing |
| FG 414 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939419 | Pershing |
| FG 415 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939420 | Pershing |
| FG 416 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939421 | Pershing |
| FG 417 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939422 | Pershing |
| FG 418 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939423 | Pershing |
| FG 419 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939424 | Pershing |
| FG 42 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939100 | Pershing |
| FG 420 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939425 | Pershing |
| FG 43 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939101 | Pershing |
| FG 434 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939439 | Pershing |
| FG 435 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939440 | Pershing |
| FG 436 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939441 | Pershing |
| FG 437 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939442 | Pershing |
| FG 438 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939443 | Pershing |
| FG 439 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939444 | Pershing |
| FG 44 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939102 | Pershing |
| FG 440 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939445 | Pershing |
| FG 441 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939446 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| LLL

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| FG 442 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939447 | Pershing |
| FG 443 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939448 | Pershing |
| FG 444 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939449 | Pershing |
| FG 445 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939450 | Pershing |
| FG 446 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939451 | Pershing |
| FG 447 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939452 | Pershing |
| FG 448 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939453 | Pershing |
| FG 449 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939454 | Pershing |
| FG 45 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939103 | Pershing |
| FG 450 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939455 | Pershing |
| FG 451 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939456 | Pershing |
| FG 452 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939457 | Pershing |
| FG 453 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939458 | Pershing |
| FG 454 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939459 | Pershing |
| FG 455 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939460 | Pershing |
| FG 456 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939461 | Pershing |
| FG 457 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939462 | Pershing |
| FG 458 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939463 | Pershing |
| FG 459 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939464 | Pershing |
| FG 46 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939104 | Pershing |
| FG 460 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939465 | Pershing |
| FG 461 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939466 | Pershing |
| FG 462 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939467 | Pershing |
| FG 463 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939468 | Pershing |
| FG 464 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939469 | Pershing |
| FG 465 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939470 | Pershing |
| FG 466 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939471 | Pershing |
| FG 467 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939472 | Pershing |
| FG 468 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939473 | Pershing |
| FG 469 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939474 | Pershing |
| FG 47 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939105 | Pershing |
| FG 470 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939475 | Pershing |
| FG 471 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939476 | Pershing |
| FG 472 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939477 | Pershing |
| FG 473 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939478 | Pershing |
| FG 474 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939479 | Pershing |
| FG 475 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939480 | Pershing |
| FG 476 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939481 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| MMM

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| FG 477 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939482 | Pershing |
| FG 478 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939483 | Pershing |
| FG 479 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939484 | Pershing |
| FG 48 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939106 | Pershing |
| FG 480 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939485 | Pershing |
| FG 481 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939486 | Pershing |
| FG 482 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939487 | Pershing |
| FG 483 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939488 | Pershing |
| FG 484 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939489 | Pershing |
| FG 485 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939490 | Pershing |
| FG 486 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939491 | Pershing |
| FG 487 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939492 | Pershing |
| FG 488 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939493 | Pershing |
| FG 489 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939494 | Pershing |
| FG 49 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939107 | Pershing |
| FG 490 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939495 | Pershing |
| FG 491 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939496 | Pershing |
| FG 492 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939497 | Pershing |
| FG 493 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939498 | Pershing |
| FG 494 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939499 | Pershing |
| FG 495 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939500 | Pershing |
| FG 496 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939501 | Pershing |
| FG 497 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939502 | Pershing |
| FG 498 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939503 | Pershing |
| FG 499 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939504 | Pershing |
| FG 5 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939063 | Pershing |
| FG 50 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939108 | Pershing |
| FG 500 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939505 | Pershing |
| FG 51 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939109 | Pershing |
| FG 52 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939110 | Pershing |
| FG 53 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939111 | Pershing |
| FG 54 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939112 | Pershing |
| FG 55 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939113 | Pershing |
| FG 56 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939114 | Pershing |
| FG 57 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939115 | Pershing |
| FG 58 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939116 | Pershing |
| FG 59 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939117 | Pershing |
| FG 6 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939064 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| NNN

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| FG 60 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939118 | Pershing |
| FG 61 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939119 | Pershing |
| FG 62 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939120 | Pershing |
| FG 63 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939121 | Pershing |
| FG 64 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939122 | Pershing |
| FG 65 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939123 | Pershing |
| FG 66 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939124 | Pershing |
| FG 67 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939125 | Pershing |
| FG 68 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939126 | Pershing |
| FG 69 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939127 | Pershing |
| FG 7 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939065 | Pershing |
| FG 70 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939128 | Pershing |
| FG 71 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939129 | Pershing |
| FG 73 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939131 | Pershing |
| FG 74 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939132 | Pershing |
| FG 75 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939133 | Pershing |
| FG 76 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939134 | Pershing |
| FG 77 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939135 | Pershing |
| FG 78 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939136 | Pershing |
| FG 79 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939137 | Pershing |
| FG 8 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939066 | Pershing |
| FG 80 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939138 | Pershing |
| FG 81 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939139 | Pershing |
| FG 82 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939140 | Pershing |
| FG 84 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939141 | Pershing |
| FG 85 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939142 | Pershing |
| FG 86 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939143 | Pershing |
| FG 87 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939144 | Pershing |
| FG 88 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939145 | Pershing |
| FG 89 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939146 | Pershing |
| FG 9 | 9/11/2006 | Hycroft Res & Dev Inc | NMC 939067 | Pershing |
| FG 90 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939147 | Pershing |
| FG 91 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939148 | Pershing |
| FG 92 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939149 | Pershing |
| FG 93 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939150 | Pershing |
| FG 94 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939151 | Pershing |
| FG 95 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939152 | Pershing |
| FG 96 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939153 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| OOO

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| FG 97 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939154 | Pershing |
| FG 98 | 9/9/2006 | Hycroft Res & Dev Inc | NMC 939155 | Pershing |
| FG 99 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939156 | Pershing |
| FG348 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939361 | Pershing |
| FG38 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939096 | Pershing |
| FG72 | 9/2/2006 | Hycroft Res & Dev Inc | NMC 939130 | Pershing |
| Nadine #1 | 1/20/2007 | Hrdi | NMC 946619 | Pershing |
| NC 100 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027938 | Pershing |
| NC 101 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027939 | Pershing |
| NC 18 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027856 | Pershing |
| NC 19 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027857 | Pershing |
| NC 20 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027858 | Pershing |
| NC 21 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027859 | Pershing |
| NC 22 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027860 | Pershing |
| NC 23 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027861 | Pershing |
| NC 24 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027862 | Pershing |
| NC 25 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027863 | Pershing |
| NC 26 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027864 | Pershing |
| NC 27 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027865 | Pershing |
| NC 28 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027866 | Pershing |
| NC 29 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027867 | Pershing |
| NC 30 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027868 | Pershing |
| NC 51 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027889 | Pershing |
| NC 52 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027890 | Pershing |
| NC 53 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027891 | Pershing |
| NC 54 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027892 | Pershing |
| NC 55 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027893 | Pershing |
| NC 56 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027894 | Pershing |
| NC 57 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027895 | Pershing |
| NC 58 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027896 | Pershing |
| NC 59 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027897 | Pershing |
| NC 60 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027898 | Pershing |
| NC 61 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027899 | Pershing |
| NC 62 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027900 | Pershing |
| NC 63 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027901 | Pershing |
| NC 64 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027902 | Pershing |
| NC 65 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027903 | Pershing |
| NC 66 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027904 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| PPP

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| NC 67 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027905 | Pershing |
| NC 68 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027906 | Pershing |
| NC 92 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027930 | Pershing |
| NC 93 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027931 | Pershing |
| NC 94 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027932 | Pershing |
| NC 95 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027933 | Pershing |
| NC 96 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027934 | Pershing |
| NC 97 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027935 | Pershing |
| NC 98 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027936 | Pershing |
| NC 99 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1027937 | Pershing |
| NFRA 10 | 11/8/2007 | Victory Exploration Inc. | NMC 977842 | Pershing |
| NFRA 11 | 11/8/2007 | Victory Exploration Inc. | NMC 977843 | Pershing |
| NFRA 21 | 11/8/2007 | Victory Exploration Inc. | NMC 977853 | Pershing |
| NFRA 22 | 11/8/2007 | Victory Exploration Inc. | NMC 977854 | Pershing |
| NFRA 25 | 11/8/2007 | Victory Exploration Inc. | NMC 977857 | Pershing |
| NFRA 6 | 11/8/2007 | Victory Exploration Inc. | NMC 977838 | Pershing |
| NFRA 7 | 11/8/2007 | Victory Exploration Inc. | NMC 977839 | Pershing |
| NFRA 8 | 11/8/2007 | Victory Exploration Inc. | NMC 977840 | Pershing |
| NFRA 9 | 11/8/2007 | Victory Exploration Inc. | NMC 977841 | Pershing |
| RFG #120 | 1/24/1980 | Lewis Frank W | NMC 141680 | Pershing |
| RFG #121 | 1/24/1980 | Lewis Frank W | NMC 141681 | Pershing |
| RFG #122 | 1/24/1980 | Lewis Frank W | NMC 141682 | Pershing |
| RFG #123 | 1/24/1980 | Lewis Frank W | NMC 141683 | Pershing |
| RFG #124 | 1/24/1980 | Lewis Frank W | NMC 141684 | Pershing |
| RFG #125 | 1/24/1980 | Lewis Frank W | NMC 141685 | Pershing |
| RFG #135 | 1/9/1980 | Lewis Frank W | NMC 141692 | Pershing |
| RFG #137 | 1/9/1980 | Lewis Frank W | NMC 141694 | Pershing |
| RFG #139 | 1/9/1980 | Lewis Frank W | NMC 141696 | Pershing |
| RFG #141 | 1/9/1980 | Lewis Frank W | NMC 141698 | Pershing |
| RFG #143 | 1/22/1980 | Lewis Frank W | NMC 141700 | Pershing |
| RFG #145 | 1/22/1980 | Lewis Frank W | NMC 141702 | Pershing |
| RFG #147 | 1/22/1980 | Lewis Frank W | NMC 141704 | Pershing |
| RFG #148 | 1/22/1980 | Lewis Frank W | NMC 141705 | Pershing |
| RFG #149 | 1/22/1980 | Lewis Frank W | NMC 141706 | Pershing |
| RFG #150 | 1/22/1980 | Lewis Frank W | NMC 141707 | Pershing |
| RFG #151 | 1/22/1980 | Lewis Frank W | NMC 141708 | Pershing |
| RFG #152 | 1/22/1980 | Lewis Frank W | NMC 141709 | Pershing |
| RFG #153 | 1/22/1980 | Lewis Frank W | NMC 141710 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| QQQ

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| RFG #154 | 1/22/1980 | Lewis Frank W | NMC 141711 | Pershing |
| RFG #155 | 1/22/1980 | Lewis Frank W | NMC 141712 | Pershing |
| RFG #156 | 1/22/1980 | Lewis Frank W | NMC 141713 | Pershing |
| RFG #157 | 1/22/1980 | Lewis Frank W | NMC 141714 | Pershing |
| RFG #158 | 1/22/1980 | Lewis Frank W | NMC 141715 | Pershing |
| RFG #159 | 1/22/1980 | Lewis Frank W | NMC 141716 | Pershing |
| RFG #160 | 1/22/1980 | Lewis Frank W | NMC 141717 | Pershing |
| RFG #161 | 1/22/1980 | Lewis Frank W | NMC 141718 | Pershing |
| RFG #162 | 1/23/1980 | Lewis Frank W | NMC 141719 | Pershing |
| RFG #163 | 1/23/1980 | Lewis Frank W | NMC 141720 | Pershing |
| RFG #164 | 1/23/1980 | Lewis Frank W | NMC 141721 | Pershing |
| RFG #165 | 1/23/1980 | Lewis Frank W | NMC 141722 | Pershing |
| RFG #166 | 1/23/1980 | Lewis Frank W | NMC 141723 | Pershing |
| RFG #167 | 1/23/1980 | Lewis Frank W | NMC 141724 | Pershing |
| RFG #201A | 12/28/1979 | Lewis Frank W | NMC 141726 | Pershing |
| RFG #202A | 12/28/1979 | Lewis Frank W | NMC 141727 | Pershing |
| RFG #203A | 12/28/1979 | Lewis Frank W | NMC 141728 | Pershing |
| RFG #204A | 12/28/1979 | Lewis Frank W | NMC 141729 | Pershing |
| RFG #205A | 12/28/1979 | Lewis Frank W | NMC 141730 | Pershing |
| RFG #206A | 12/28/1979 | Lewis Frank W | NMC 141731 | Pershing |
| RFG #207A | 12/28/1979 | Lewis Frank W | NMC 141732 | Pershing |
| RFG #208A | 12/28/1979 | Lewis Frank W | NMC 141733 | Pershing |
| RFG #209A | 12/28/1979 | Lewis Frank W | NMC 141734 | Pershing |
| RFG #210A | 12/28/1979 | Lewis Frank W | NMC 141735 | Pershing |
| RFG #211A | 12/28/1979 | Lewis Frank W | NMC 141736 | Pershing |
| RFG #212A | 12/28/1979 | Lewis Frank W | NMC 141737 | Pershing |
| RFG #213A | 12/28/1979 | Lewis Frank W | NMC 141738 | Pershing |
| RFG #214A | 12/28/1979 | Lewis Frank W | NMC 141739 | Pershing |
| RFG #215A | 12/28/1979 | Lewis Frank W | NMC 141740 | Pershing |
| RFG #216A | 12/28/1979 | Lewis Frank W | NMC 141741 | Pershing |
| RFG #217A | 12/28/1979 | Lewis Frank W | NMC 141742 | Pershing |
| RFG #218A | 12/28/1979 | Lewis Frank W | NMC 141743 | Pershing |
| RFG #219A | 12/28/1979 | Lewis Frank W | NMC 141744 | Pershing |
| RFG #220A | 12/28/1979 | Lewis Frank W | NMC 141745 | Pershing |
| RFG #221A | 12/28/1979 | Lewis Frank W | NMC 141746 | Pershing |
| RFG #222A | 12/28/1979 | Lewis Frank W | NMC 141747 | Pershing |
| RFG #223A | 12/28/1979 | Lewis Frank W | NMC 141748 | Pershing |
| RFG #225A | 1/7/1980 | Lewis Frank W | NMC 141750 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| RRR

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| RFG #226A | 1/7/1980 | Lewis Frank W | NMC 141751 | Pershing |
| RFG #227A | 1/7/1980 | Lewis Frank W | NMC 141752 | Pershing |
| RFG #228A | 1/7/1980 | Lewis Frank W | NMC 141754 | Pershing |
| RFG #229 | 1/25/1980 | Lewis Frank W | NMC 141755 | Pershing |
| RFG #229A | 1/7/1980 | Lewis Frank W | NMC 141756 | Pershing |
| RFG #230A | 1/7/1980 | Lewis Frank W | NMC 141758 | Pershing |
| RFG #231 | 1/25/1980 | Lewis Frank W | NMC 141759 | Pershing |
| RFG #231A | 1/7/1980 | Lewis Frank W | NMC 141760 | Pershing |
| RFG #232A | 1/7/1980 | Lewis Frank W | NMC 141761 | Pershing |
| RFG #233 | 1/26/1980 | Lewis Frank W | NMC 141762 | Pershing |
| RFG #233A | 1/7/1980 | Lewis Frank W | NMC 141763 | Pershing |
| RFG #234A | 1/7/1980 | Lewis Frank W | NMC 141765 | Pershing |
| RFG #235A | 1/7/1980 | Lewis Frank W | NMC 141767 | Pershing |
| RFG #236A | 1/8/1980 | Lewis Frank W | NMC 141769 | Pershing |
| RFG #237A | 1/8/1980 | Lewis Frank W | NMC 141771 | Pershing |
| RFG #238A | 1/8/1980 | Lewis Frank W | NMC 141772 | Pershing |
| RFG #239A | 1/8/1980 | Lewis Frank W | NMC 141773 | Pershing |
| RFG #240A | 1/8/1980 | Lewis Frank W | NMC 141774 | Pershing |
| RFG #241A | 1/8/1980 | Lewis Frank W | NMC 141775 | Pershing |
| RFG #251 | 1/11/1980 | Lewis Frank W | NMC 141777 | Pershing |
| RFG #253 | 1/11/1980 | Lewis Frank W | NMC 141779 | Pershing |
| RFG #255 | 1/11/1980 | Hrdi | NMC 141781 | Pershing |
| RFG 107 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932890 | Pershing |
| RFG 109 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932892 | Pershing |
| RFG 111 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932894 | Pershing |
| RFG 113 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932896 | Pershing |
| RFG 114 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932897 | Pershing |
| RFG 115 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932898 | Pershing |
| RFG 116 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932899 | Pershing |
| RFG 117 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932900 | Pershing |
| RFG 118 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932901 | Pershing |
| RFG 119 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932902 | Pershing |
| RFG 142 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932908 | Pershing |
| RFG 144 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932909 | Pershing |
| RFG 146 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932910 | Pershing |
| RFG#224A | 1/7/1980 | Lewis Frank W | NMC 141749 | Pershing |
| SH 169 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990822 | Pershing |
| SH 170 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990823 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| SSS

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 171 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990824 | Pershing |
| SH 172 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990825 | Pershing |
| SH 173 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990826 | Pershing |
| SH 174 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990827 | Pershing |
| SH 175 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990828 | Pershing |
| SH 176 | 4/24/2008 | Hycroft Res & Dev Inc | NMC990829 | Pershing |
| SH 177 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990830 | Pershing |
| SH 178 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990831 | Pershing |
| SH 179 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990832 | Pershing |
| SH 180 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990833 | Pershing |
| SH 181 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990834 | Pershing |
| SH 182 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990835 | Pershing |
| SH 183 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990836 | Pershing |
| SH 184 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990837 | Pershing |
| SH 185 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990838 | Pershing |
| SH 186 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990839 | Pershing |
| SH 187 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990840 | Pershing |
| SH 188 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990841 | Pershing |
| SH 189 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990842 | Pershing |
| SH 190 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990843 | Pershing |
| SH 191 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990844 | Pershing |
| SH 192 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990845 | Pershing |
| SH 193 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990846 | Pershing |
| SH 194 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990847 | Pershing |
| SH 195 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990848 | Pershing |
| SH 196 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990849 | Pershing |
| SH 197 | 4/24/2008 | Hycroft Res & Dev Inc | NMC990850 | Pershing |
| SH 198 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990851 | Pershing |
| SH 199 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990852 | Pershing |
| SH 200 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990853 | Pershing |
| SH 201 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990854 | Pershing |
| SH 202 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990855 | Pershing |
| SH 203 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990856 | Pershing |
| SH 204 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990857 | Pershing |
| SH 205 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990858 | Pershing |
| SH 206 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990859 | Pershing |
| SH 207 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990860 | Pershing |
| SH 208 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990861 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| TTT

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 209 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990862 | Pershing |
| SH 210 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990863 | Pershing |
| SH 211 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990864 | Pershing |
| SH 212 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990865 | Pershing |
| SH 213 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990866 | Pershing |
| SH 214 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990867 | Pershing |
| SH 215 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990868 | Pershing |
| SH 216 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990869 | Pershing |
| SH 217 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990870 | Pershing |
| SH 218 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990871 | Pershing |
| SH 219 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990872 | Pershing |
| SH 220 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990873 | Pershing |
| SH 221 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990874 | Pershing |
| SH 222 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990875 | Pershing |
| SH 223 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990876 | Pershing |
| SH 224 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990877 | Pershing |
| SH 225 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990878 | Pershing |
| SH 226 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990879 | Pershing |
| SH 227 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990880 | Pershing |
| SH 228 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990881 | Pershing |
| SH 229 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990882 | Pershing |
| SH 230 | 4/24/2008 | Hycroft Res & Dev Inc | NMC 990883 | Pershing |
| SH 231 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990884 | Pershing |
| SH 235 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990888 | Pershing |
| SH 236 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990889 | Pershing |
| SH 237 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990890 | Pershing |
| SH 238 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990891 | Pershing |
| SH 239 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990892 | Pershing |
| SH 240 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990893 | Pershing |
| SH 241 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990894 | Pershing |
| SH 244 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990895 | Pershing |
| SH 245 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990896 | Pershing |
| SH 247 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990900 | Pershing |
| SH 249 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990905 | Pershing |
| SH 250 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990901 | Pershing |
| SH 251 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990902 | Pershing |
| SH 252 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990903 | Pershing |
| SH 253 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990904 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| UUU

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 254 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990906 | Pershing |
| SH 255 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990907 | Pershing |
| SH 256 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990908 | Pershing |
| SH 257 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990909 | Pershing |
| SH 258 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990910 | Pershing |
| SH 259 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990911 | Pershing |
| SH 260 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990912 | Pershing |
| SH 261 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990913 | Pershing |
| SH 262 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990914 | Pershing |
| SH 263 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990915 | Pershing |
| SH 265 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990917 | Pershing |
| SH 266 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990918 | Pershing |
| SH 269 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990921 | Pershing |
| SH 270 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990922 | Pershing |
| SH 271 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990923 | Pershing |
| SH 272 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990924 | Pershing |
| SH 273 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990925 | Pershing |
| SH 274 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990926 | Pershing |
| SH 276 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990928 | Pershing |
| SH 277 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990929 | Pershing |
| SH 278 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990930 | Pershing |
| SH 279 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990931 | Pershing |
| SH 280 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990932 | Pershing |
| SH 281 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990933 | Pershing |
| SH 282 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990934 | Pershing |
| SH 284 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990936 | Pershing |
| SH 285 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990937 | Pershing |
| SH 286 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990938 | Pershing |
| SH 288 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990940 | Pershing |
| SH 290 | 4/22/2008 | Hycroft Res & Dev Inc | NMC990942 | Pershing |
| SH 291 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990943 | Pershing |
| SH 292 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990944 | Pershing |
| SH 293 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990945 | Pershing |
| SH 294 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990946 | Pershing |
| SH 296 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990948 | Pershing |
| SH 297 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990956 | Pershing |
| SH 298 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990957 | Pershing |
| SH 300 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990950 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| VVV

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 301 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990951 | Pershing |
| SH 303 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990953 | Pershing |
| SH 304 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990954 | Pershing |
| SH 305 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990955 | Pershing |
| SH 307 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990959 | Pershing |
| SH 308 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990960 | Pershing |
| SH 309 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990961 | Pershing |
| SH 310 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990962 | Pershing |
| SH 311 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990963 | Pershing |
| SH 312 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990964 | Pershing |
| SH 313 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990965 | Pershing |
| SH 314 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990966 | Pershing |
| SH 315 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990967 | Pershing |
| SH 316 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990968 | Pershing |
| SH 317 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990969 | Pershing |
| SH 318 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990970 | Pershing |
| SH 319 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990971 | Pershing |
| SH 320 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990972 | Pershing |
| SH 321 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990973 | Pershing |
| SH 323 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990975 | Pershing |
| SH 324 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990976 | Pershing |
| SH 325 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990977 | Pershing |
| SH 326 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990978 | Pershing |
| SH 327 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990979 | Pershing |
| SH 328 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990980 | Pershing |
| SH 334 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990986 | Pershing |
| SH 335 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990987 | Pershing |
| SH 336 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990988 | Pershing |
| SH 337 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990989 | Pershing |
| SH 338 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990990 | Pershing |
| SH 339 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990991 | Pershing |
| SH 340 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990992 | Pershing |
| SH 341 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990993 | Pershing |
| SH 342 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990994 | Pershing |
| SH 343 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990995 | Pershing |
| SH 345 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990997 | Pershing |
| SH 346 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 990998 | Pershing |
| SH 347 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 990999 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| WWW

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 358 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991010 | Pershing |
| SH 359 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991011 | Pershing |
| SH 360 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991012 | Pershing |
| SH 361 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991013 | Pershing |
| SH 362 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991014 | Pershing |
| SH 363 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991015 | Pershing |
| SH 364 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991016 | Pershing |
| SH 365 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991017 | Pershing |
| SH 366 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991018 | Pershing |
| SH 367 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991019 | Pershing |
| SH 368 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991020 | Pershing |
| SH 370 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991022 | Pershing |
| SH 387 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991039 | Pershing |
| SH 388 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991040 | Pershing |
| SH 389 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991041 | Pershing |
| SH 390 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991042 | Pershing |
| SH 391 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991043 | Pershing |
| SH 392 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991044 | Pershing |
| SH 393 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991045 | Pershing |
| SH 394 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991046 | Pershing |
| SH 395 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991047 | Pershing |
| SH 412 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991064 | Pershing |
| SH 413 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991065 | Pershing |
| SH 414 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991066 | Pershing |
| SH 415 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991067 | Pershing |
| SH 416 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991068 | Pershing |
| SH 417 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991069 | Pershing |
| SH 435 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991210 | Pershing |
| SH 436 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991087 | Pershing |
| SH 437 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991088 | Pershing |
| SH 438 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991089 | Pershing |
| SH 461 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991112 | Pershing |
| SH 462 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991113 | Pershing |
| SH 463 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991114 | Pershing |
| SH 468 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991119 | Pershing |
| SH 469 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991120 | Pershing |
| SH 470 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991121 | Pershing |
| SH 471 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991122 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| XXX

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 473 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991124 | Pershing |
| SH 474 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991125 | Pershing |
| SH 477 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991128 | Pershing |
| SH 478 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991129 | Pershing |
| SH 480 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991131 | Pershing |
| SH 481 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991132 | Pershing |
| SH 482 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991133 | Pershing |
| SH 483 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991134 | Pershing |
| SH 485 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991136 | Pershing |
| SH 486 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991137 | Pershing |
| SH 488 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991139 | Pershing |
| SH 489 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991140 | Pershing |
| SH 490 | 4/22/2008 | Hycroft Res & Dev Inc | NMC991141 | Pershing |
| SH 491 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991142 | Pershing |
| SH 492 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991143 | Pershing |
| SH 493 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991144 | Pershing |
| SH 497 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991148 | Pershing |
| SH 498 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991149 | Pershing |
| SH 499 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991150 | Pershing |
| SH 500 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991151 | Pershing |
| SH 501 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991152 | Pershing |
| SH 502 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991153 | Pershing |
| SH 503 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991154 | Pershing |
| SH 504 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991155 | Pershing |
| SH 505 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991156 | Pershing |
| SH 507 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991158 | Pershing |
| SH 508 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991159 | Pershing |
| SH 509 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991160 | Pershing |
| SH 510 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991161 | Pershing |
| SH 511 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991162 | Pershing |
| SH 512 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991163 | Pershing |
| SH 513 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991164 | Pershing |
| SH 514 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991165 | Pershing |
| SH 515 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991166 | Pershing |
| SH 516 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991167 | Pershing |
| SH 517 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991168 | Pershing |
| SH 519 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991170 | Pershing |
| SH 520 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991171 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| YYY

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 521 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991172 | Pershing |
| SH 523 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991174 | Pershing |
| SH 524 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991175 | Pershing |
| SH 526 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991177 | Pershing |
| SH 528 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991179 | Pershing |
| SH 529 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991180 | Pershing |
| SH 530 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991181 | Pershing |
| SH 531 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991182 | Pershing |
| SH 532 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991183 | Pershing |
| SH 533 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991184 | Pershing |
| SH 534 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991185 | Pershing |
| SH 535 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991186 | Pershing |
| SH 536 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991187 | Pershing |
| SH 537 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991188 | Pershing |
| SH 538 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991189 | Pershing |
| SH 539 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991190 | Pershing |
| SH 540 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991191 | Pershing |
| SH 541 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991192 | Pershing |
| SH 542 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991193 | Pershing |
| SH 543 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991194 | Pershing |
| SH 544 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991195 | Pershing |
| SH 545 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991196 | Pershing |
| SH 546 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991197 | Pershing |
| SH 548 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991199 | Pershing |
| SH 549 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991200 | Pershing |
| SH 550 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991201 | Pershing |
| SH 551 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991202 | Pershing |
| SH 552 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991203 | Pershing |
| SH 553 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991204 | Pershing |
| SH 554 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991205 | Pershing |
| SH 555 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991206 | Pershing |
| SH 556 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991207 | Pershing |
| SH 557 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991208 | Pershing |
| SH 558 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022749 | Pershing |
| SH 559 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022750 | Pershing |
| SH 560 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022751 | Pershing |
| SH 561 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022752 | Pershing |
| SH 562 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022753 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| AAAA

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 563 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022754 | Pershing |
| SH 564 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022755 | Pershing |
| SH 565 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022756 | Pershing |
| SH 566 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022757 | Pershing |
| SH 567 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022758 | Pershing |
| SH 568 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022759 | Pershing |
| SH 569 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022760 | Pershing |
| SH 570 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022761 | Pershing |
| SH 571 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022762 | Pershing |
| SH 572 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022763 | Pershing |
| SH 573 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022764 | Pershing |
| SH 574 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022765 | Pershing |
| SH 575 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022766 | Pershing |
| SH 576 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022767 | Pershing |
| SH 577 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022768 | Pershing |
| SH 578 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022769 | Pershing |
| SH 579 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022770 | Pershing |
| SH 580 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022771 | Pershing |
| SH 581 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022772 | Pershing |
| SH 582 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022773 | Pershing |
| SH 583 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022774 | Pershing |
| SH 584 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022775 | Pershing |
| SH 585 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022776 | Pershing |
| SH 586 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022777 | Pershing |
| SH 587 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022778 | Pershing |
| SH 588 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022779 | Pershing |
| SH 589 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022780 | Pershing |
| SH 590 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022781 | Pershing |
| SH 591 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022782 | Pershing |
| SH 592 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022783 | Pershing |
| SH 593 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022784 | Pershing |
| SH 594 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022785 | Pershing |
| SH 595 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022786 | Pershing |
| SH 596 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022787 | Pershing |
| SH 597 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022788 | Pershing |
| SH 598 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022789 | Pershing |
| SH 599 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022790 | Pershing |
| SH 600 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022791 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| AAAA

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 601 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022792 | Pershing |
| SH 602 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022793 | Pershing |
| SH 603 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022794 | Pershing |
| SH 604 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022795 | Pershing |
| SH 605 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022796 | Pershing |
| SH 606 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022797 | Pershing |
| SH 607 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022798 | Pershing |
| SH 608 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022799 | Pershing |
| SH 609 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022800 | Pershing |
| SH 610 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022801 | Pershing |
| SH 611 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022802 | Pershing |
| SH 612 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022803 | Pershing |
| SH 613 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022804 | Pershing |
| SH 614 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022805 | Pershing |
| SH 615 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022806 | Pershing |
| SH 616 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022807 | Pershing |
| SH 617 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022808 | Pershing |
| SH 618 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022809 | Pershing |
| SH 619 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022810 | Pershing |
| SH 620 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022811 | Pershing |
| SH 621 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022812 | Pershing |
| SH 622 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022813 | Pershing |
| SH 623 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022814 | Pershing |
| SH 624 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022815 | Pershing |
| SH 625 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022816 | Pershing |
| SH 626 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022817 | Pershing |
| SH 627 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022818 | Pershing |
| SH 628 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022819 | Pershing |
| SH 629 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022820 | Pershing |
| SH 630 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022821 | Pershing |
| SH 631 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022822 | Pershing |
| SH 632 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022823 | Pershing |
| SH 633 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022824 | Pershing |
| SH 232 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990885 | Pershing |
| SH 233 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990886 | Pershing |
| SH 234 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990887 | Pershing |
| SH 242 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990898 | Pershing |
| SH 243 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990899 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| BBBB

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 246 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990897 | Pershing |
| SH 248 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 991209 | Pershing |
| SH 264 | 4/25/2008 | Hycroft Res & Dev Inc | NMC 990916 | Pershing |
| SH 267 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990919 | Pershing |
| SH 268 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990920 | Pershing |
| SH 275 | 4/23/2008 | Hycroft Res & Dev Inc | NMC 990927 | Pershing |
| SH 283 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990935 | Pershing |
| SH 287 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990939 | Pershing |
| SH 289 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990941 | Pershing |
| SH 295 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990947 | Pershing |
| SH 299 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990949 | Pershing |
| SH 302 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990952 | Pershing |
| SH 306 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990958 | Pershing |
| SH 322 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990974 | Pershing |
| SH 344 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990996 | Pershing |
| SH 369 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991021 | Pershing |
| SH 386 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991038 | Pershing |
| SH 418 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991070 | Pershing |
| SH 457 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991108 | Pershing |
| SH 458 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991109 | Pershing |
| SH 459 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991110 | Pershing |
| SH 460 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991111 | Pershing |
| SH 464 | 4/22/2008 | Hycroft Res & Dev Inc | NMC991115 | Pershing |
| SH 465 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991116 | Pershing |
| SH 466 | 4/22/2008 | Hycroft Res & Dev Inc | NMC991117 | Pershing |
| SH 467 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991118 | Pershing |
| SH 472 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991123 | Pershing |
| SH 475 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991126 | Pershing |
| SH 476 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991127 | Pershing |
| SH 479 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991130 | Pershing |
| SH 484 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991135 | Pershing |
| SH 487 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991138 | Pershing |
| SH 494 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991145 | Pershing |
| SH 495 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991146 | Pershing |
| SH 496 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991147 | Pershing |
| SH 506 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991157 | Pershing |
| SH 518 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991169 | Pershing |
| SH 522 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991173 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| CCCC

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 525 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991176 | Pershing |
| SH 527 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991178 | Pershing |
| SH 547 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 991198 | Pershing |
| SH 634 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022825 | Pershing |
| SH 635 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022826 | Pershing |
| SH 636 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022827 | Pershing |
| SH 637 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022828 | Pershing |
| SH 638 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022829 | Pershing |
| SH 639 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022830 | Pershing |
| SH 640 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022831 | Pershing |
| SH 641 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022832 | Pershing |
| SH 642 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022833 | Pershing |
| SH 643 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022834 | Pershing |
| SH 644 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022835 | Pershing |
| SH 645 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022836 | Pershing |
| SH 646 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022837 | Pershing |
| SH 647 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022838 | Pershing |
| SH 648 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022839 | Pershing |
| SH 649 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022840 | Pershing |
| SH 650 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022841 | Pershing |
| SH 651 | 3/13/2010 | Hycroft Res & Dev Inc | NMC 1022842 | Pershing |
| WCD 1 | 3/22/2006 | Hycroft Res & Dev Inc | NMC 928826 | Pershing |
| WCD 17 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928836 | Pershing |
| WCD 18 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928837 | Pershing |
| WCD 19 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928838 | Pershing |
| WCD 2 | 3/22/2006 | Hycroft Res & Dev Inc | NMC 928827 | Pershing |
| WCD 20 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928839 | Pershing |
| WCD 21 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928840 | Pershing |
| WCD 22 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928841 | Pershing |
| WCD 23 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928842 | Pershing |
| WCD 24 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928843 | Pershing |
| WCD 25 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928844 | Pershing |
| WCD 26 | 4/21/2006 | Hycroft Res & Dev Inc | NMC 928845 | Pershing |
| WCD 3 | 3/22/2006 | Hycroft Res & Dev Inc | NMC 928828 | Pershing |
| WCD 4 | 4/22/2006 | Hycroft Res & Dev Inc | NMC 928829 | Pershing |
| WCX 10 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941262 | Pershing |
| WCX 5 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941257 | Pershing |
| WCX 6 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941258 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| DDDD

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| WCX 7 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941259 | Pershing |
| WCX 8 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941260 | Pershing |
| WCX 9 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941261 | Pershing |
| WCX 34 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941263 | Pershing |
| WCX 35 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941264 | Pershing |
| WCX 36 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941265 | Pershing |
| WCX 37 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941266 | Pershing |
| WCX 38 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941267 | Pershing |
| WCX 39 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941268 | Pershing |
| WCX 40 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941269 | Pershing |
| WCX 41 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941270 | Pershing |
| WCX 42 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941271 | Pershing |
| WCX 43 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941272 | Pershing |
| WCX 44 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941273 | Pershing |
| WCX 45 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941274 | Pershing |
| WCX 46 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941275 | Pershing |
| WCX 47 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941276 | Pershing |
| WCX 48 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941277 | Pershing |
| WCX 49 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941278 | Pershing |
| WCX 50 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941279 | Pershing |
| WCX 51 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941280 | Pershing |
| WCX 52 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941281 | Pershing |
| WCX 53 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941282 | Pershing |
| WCX 54 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941283 | Pershing |
| WCX 55 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941284 | Pershing |
| WCX 56 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941285 | Pershing |
| WCX 57 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941286 | Pershing |
| WCX 58 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941287 | Pershing |
| WRC 10 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714261 | Pershing |
| WRC 11 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714262 | Pershing |
| WRC 12 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714263 | Pershing |
| WRC 13 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714264 | Pershing |
| WRC 14 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714265 | Pershing |
| WRC 15 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714266 | Pershing |
| WRC 16 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714267 | Pershing |
| WRC 17 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714268 | Pershing |
| WRC 19 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714270 | Pershing |
| WRC 1 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714252 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| EEEE

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| WRC 18 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714269 | Pershing |
| WRC 2 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714253 | Pershing |
| WRC 20 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714271 | Pershing |
| WRC 21 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714272 | Pershing |
| WRC 22 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714273 | Pershing |
| WRC 23 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714274 | Pershing |
| WRC 24 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714275 | Pershing |
| WRC 25 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714276 | Pershing |
| WRC 26 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714277 | Pershing |
| WRC 27 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714278 | Pershing |
| WRC 28 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714279 | Pershing |
| WRC 29 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714280 | Pershing |
| WRC 3 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714254 | Pershing |
| WRC 30 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714281 | Pershing |
| WRC 31 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714282 | Pershing |
| WRC 32 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714283 | Pershing |
| WRC 33 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714284 | Pershing |
| WRC 34 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714285 | Pershing |
| WRC 35 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714286 | Pershing |
| WRC 36 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714287 | Pershing |
| WRC 37 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714288 | Pershing |
| WRC 38 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714289 | Pershing |
| WRC 39 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714290 | Pershing |
| WRC 4 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714255 | Pershing |
| WRC 40 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714291 | Pershing |
| WRC 41 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714292 | Pershing |
| WRC 42 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714293 | Pershing |
| WRC 43 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714294 | Pershing |
| WRC 44 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714295 | Pershing |
| WRC 45 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714296 | Pershing |
| WRC 46 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714297 | Pershing |
| WRC 47 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714298 | Pershing |
| WRC 48 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714299 | Pershing |
| WRC 49 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714300 | Pershing |
| WRC 5 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714256 | Pershing |
| WRC 50 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714301 | Pershing |
| WRC 51 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714302 | Pershing |
| WRC 52 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714303 | Pershing |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| FFFF

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| WRC 53 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714304 | Pershing |
| WRC 54 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714305 | Pershing |
| WRC 55 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714306 | Pershing |
| WRC 56 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714307 | Pershing |
| WRC 57 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714308 | Pershing |
| WRC 58 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714309 | Pershing |
| WRC 6 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714257 | Pershing |
| WRC 60 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714311 | Pershing |
| WRC 7 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714258 | Pershing |
| WRC 8 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714259 | Pershing |
| WRC 82 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714313 | Pershing |
| WRC 84 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714315 | Pershing |
| WRC 87 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714317 | Pershing |
| WRC 88 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714318 | Pershing |
| WRC 89 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714319 | Pershing |
| WRC 9 | 3/13/1995 | Hycroft Res & Dev Inc | NMC 714260 | Pershing |
| WRC 90 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714320 | Pershing |
| WRC 91 | 3/14/1995 | Hycroft Res & Dev Inc | NMC 714321 | Pershing |
| CKC #12 | 8/14/1987 | Crofoot Daniel M | NMC444109 | Pershing/Humboldt |
| FG 226 | 9/5/2006 | Hycroft Res & Dev Inc | NMC 939259 | Pershing/Humboldt |
| FG 275 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939296 | Pershing/Humboldt |
| FG 324 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939337 | Pershing/Humboldt |
| FG 377 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939382 | Pershing/Humboldt |
| FG 433 | 9/1/2006 | Hycroft Res & Dev Inc | NMC 939438 | Pershing/Humboldt |
| NC 132 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027970 | Pershing/Humboldt |
| NC 17 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027855 | Pershing/Humboldt |
| NC 170 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028008 | Pershing/Humboldt |
| NC 205 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028043 | Pershing/Humboldt |
| NC 240 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028078 | Pershing/Humboldt |
| NC 274 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028112 | Pershing/Humboldt |
| NC 306 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1028144 | Pershing/Humboldt |
| NC 50 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027888 | Pershing/Humboldt |
| NC 91 | 8/14/2010 | Hycroft Res & Dev Inc | NMC1027929 | Pershing/Humboldt |
| NFRA 12 | 11/7/2007 | Victory Exploration Inc. | NMC 977844 | Pershing/Humboldt |
| NFRA 13 | 11/7/2007 | Victory Exploration Inc. | NMC 977845 | Pershing/Humboldt |
| NFRA 14 | 11/7/2007 | Victory Exploration Inc. | NMC 977846 | Pershing/Humboldt |
| NFRA 15 | 11/7/2007 | Victory Exploration Inc. | NMC 977847 | Pershing/Humboldt |
| NFRA 23 | 11/7/2007 | Victory Exploration Inc. | NMC 977855 | Pershing/Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| GGGG

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| NFRA 24 | 11/7/2007 | Victory Exploration Inc. | NMC 977856 | Pershing/Humboldt |
| NFRA 4 | 11/7/2007 | Victory Exploration Inc. | NMC 977836 | Pershing/Humboldt |
| NFRA 5 | 11/7/2007 | Victory Exploration Inc. | NMC 977837 | Pershing/Humboldt |
| RFG #101 | 3/11/1989 | Crofoot Daniel M | NMC 546065 | Pershing/Humboldt |
| RFG #103 | 3/11/1989 | Crofoot Daniel M | NMC 546066 | Pershing/Humboldt |
| RFG #127 | 1/9/1980 | Lewis Frank W | NMC 141686 | Pershing/Humboldt |
| RFG #129 | 1/9/1980 | Lewis Frank W | NMC 141687 | Pershing/Humboldt |
| RFG #131 | 1/9/1980 | Lewis Frank W | NMC 141688 | Pershing/Humboldt |
| RFG #132 | 1/9/1980 | Lewis Frank W | NMC 141689 | Pershing/Humboldt |
| RFG #133 | 1/9/1980 | Lewis Frank W | NMC 141690 | Pershing/Humboldt |
| RFG #134 | 1/9/1980 | Lewis Frank W | NMC 141691 | Pershing/Humboldt |
| RFG #200A | 12/28/1979 | Lewis Frank W | NMC 141725 | Pershing/Humboldt |
| RFG #228 | 1/25/1980 | Lewis Frank W | NMC 141753 | Pershing/Humboldt |
| RFG #230 | 1/25/1980 | Lewis Frank W | NMC 141757 | Pershing/Humboldt |
| RFG #234 | 1/26/1980 | Lewis Frank W | NMC 141764 | Pershing/Humboldt |
| RFG #235 | 1/26/1980 | Lewis Frank W | NMC 141766 | Pershing/Humboldt |
| RFG #236 | 1/26/1980 | Lewis Frank W | NMC 141768 | Pershing/Humboldt |
| RFG #237 | 1/30/1980 | Lewis Frank W | NMC 141770 | Pershing/Humboldt |
| RFG #250 | 1/11/1980 | Lewis Frank W | NMC 141776 | Pershing/Humboldt |
| RFG #252 | 1/11/1980 | Lewis Frank W | NMC 141778 | Pershing/Humboldt |
| RFG #254 | 1/11/1980 | Lewis Frank W | NMC 141780 | Pershing/Humboldt |
| RFG #257 | 1/11/1980 | Hadi | NMC 141783 | Pershing/Humboldt |
| RFG #259 | 1/11/1980 | Hadi | NMC 141784 | Pershing/Humboldt |
| RFG #261 | 1/11/1980 | Hadi | NMC 141785 | Pershing/Humboldt |
| RFG #263 | 1/11/1980 | Hadi | NMC 141786 | Pershing/Humboldt |
| RFG #99 | 3/11/1989 | Crofoot Daniel M | NMC 546064 | Pershing/Humboldt |
| RFG 104 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932887 | Pershing/Humboldt |
| RFG 105 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932888 | Pershing/Humboldt |
| RFG 106 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932889 | Pershing/Humboldt |
| RFG 108 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932891 | Pershing/Humboldt |
| RFG 110 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932893 | Pershing/Humboldt |
| RFG 112 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932895 | Pershing/Humboldt |
| RFG 136 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932905 | Pershing/Humboldt |
| RFG 138 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932906 | Pershing/Humboldt |
| RFG 140 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932907 | Pershing/Humboldt |
| RFG 256 | 5/20/2006 | Hycroft Res & Dev Inc | NMC 932911 | Pershing/Humboldt |
| SH 348 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991000 | Pershing/Humboldt |
| SH 349 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991001 | Pershing/Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| HHHH

---

| | |
|:---|:---|
| ![](logo_001.jpg) | ![](logo_002.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Unpatented Claim Name | Location Date | Claimant | BLM Serial Number | Filing County |
| SH 329 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990981 | Pershing/Humboldt |
| SH 330 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990982 | Pershing/Humboldt |
| SH 331 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990983 | Pershing/Humboldt |
| SH 332 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990984 | Pershing/Humboldt |
| SH 333 | 4/22/2008 | Hycroft Res & Dev Inc | NMC 990985 | Pershing/Humboldt |
| SH 353 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991005 | Pershing/Humboldt |
| SH 354 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991006 | Pershing/Humboldt |
| SH 355 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991007 | Pershing/Humboldt |
| SH 356 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991008 | Pershing/Humboldt |
| SH 357 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991009 | Pershing/Humboldt |
| SH 371 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991023 | Pershing/Humboldt |
| SH 372 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991024 | Pershing/Humboldt |
| SH 382 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991034 | Pershing/Humboldt |
| SH 383 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991035 | Pershing/Humboldt |
| SH 384 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991036 | Pershing/Humboldt |
| SH 385 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991037 | Pershing/Humboldt |
| SH 407 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991059 | Pershing/Humboldt |
| SH 408 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991060 | Pershing/Humboldt |
| SH 409 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991061 | Pershing/Humboldt |
| SH 410 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991062 | Pershing/Humboldt |
| SH 411 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991063 | Pershing/Humboldt |
| SH 431 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991083 | Pershing/Humboldt |
| SH 432 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991084 | Pershing/Humboldt |
| SH 433 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991085 | Pershing/Humboldt |
| SH 434 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991086 | Pershing/Humboldt |

---

HYCROFT MINE \| Hycroft Technical Report Summary and Initial Assessment Appendix \| IIII