# EDGAR Filing Document

**Accession Number:** 0001718405
**File Stem:** 0001718405-23-000035
**Filing Date:** 2023-3
**Character Count:** 582925
**Document Hash:** cf4d8fe6e84d71ee903f6dd4c138bf9b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001718405-23-000035.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001718405-23-000035

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 63

**CONFORMED PERIOD OF REPORT**: 20230328

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38387
- **FILM NUMBER:** 23769657

**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" ? hymc-20230328

  

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**<br>

**CURRENT REPORT**

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

Date of Report (date of earliest event reported): March 28, 2023

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| |
|:---|
| **HYCROFT MINING HOLDING CORPORATION** |
| (Exact name of registrant as specified in its charter) |

---

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| | | |
|:---|:---|:---|
| **Delaware** | **001-38387** | **82-2657796** |
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer<br>Identification No.) |
|  | **4300 Water Canyon Road, Unit 1**<br>**Winnemucca, Nevada 89445** |  |
|  | (Address of principal executive offices) (Zip code) |  |
|  | **(775) 304-0260** |  |
|  | (Registrant's telephone number, including area code) |  |

---

 

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| | |
|:---|:---|
| 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 (see General Instruction A.2. below): | 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 (see 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))  |

---

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| | | |
|:---|:---|:---|
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Class A common stock, par value $0.0001 per share | HYMC | The Nasdaq Capital Market |
| Warrants to purchase common stock | HYMCW | The Nasdaq Capital Market |
| Warrants to purchase common stock | HYMCL | The Nasdaq Capital Market |

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| | |
|:---|:---|
| 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. | ☐ |

---

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**Item 8.01 Other Events.**

Hycroft Mining Holding Corporation (the "Company") is filing this Current Report on Form 8-K to provide the Hycroft Property Initial Assessment Technical Report Summary, Humboldt and Pershing Counties, Nevada, effective March 27, 2023, and current as of December 31, 2022 ("2023 Hycroft TRS"), relating to mineral resources at the Company's Hycroft mine. The 2023 Hycroft TRS provides an update to the mineral resource estimate in the Company's Initial Assessment, included in the Technical Report Summary of Initial Assessment on the Hycroft mine filed as Exhibit 96.1 to the Company's Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission (the "SEC") on February 22, 2022.

The 2023 Hycroft TRS was prepared following the reporting requirements of SEC's Modernization of Property Disclosures of Mining Registrants under subpart 1300 and Item 601 (96)(B)(iii) of Regulation S-K for an Initial Assessment.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits

The list of exhibits is set forth on the Exhibit Index of this Current Report on Form 8-K and is incorporated herein by reference.

**<u>EXHIBIT INDEX</u>**

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| 99.1 | <u>[Technical Report Summary of Initial Assessment on the Hycroft Mine, effective March 27, 2023, and current as of December 31, 2022.](hycroft_2023initialassessm.htm)</u> |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |

---

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**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.

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| | |
|:---|:---|
| | **HYCROFT MINING HOLDING CORPORATION**<br>(Registrant) |
| Dated: March 28, 2023 | */s/ Stanton Rideout* |
| | Stanton Rideout |
| | Executive Vice President and Chief Financial Officer |
| | (principal financial officer) |

---

## Exhibit 99.1

![image_1a.jpg](image_1a.jpg)

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| | |
|:---|:---|
| ![picture1a.jpg](picture1a.jpg) | ![picture2a.jpg](picture2a.jpg) |
| ![picture1a.jpg](picture1a.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Property<br>Initial Assessment Technical Report Summary<br>Humboldt and Pershing Counties, Nevada<br>Effective Date: March 27, 2023 <br>Prepared for:<br>Hycroft Mining Holding Corporation <br>4300 Water Canyon Road, Unit 1<br>Winnemucca, NV, 89445<br>USA<br>Prepared by:<br>Ausenco Engineering USA South, Inc <br>595 South Meyer Avenue<br>Tucson, AZ, 85701 |
| ![picture1a.jpg](picture1a.jpg) |  |

---

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

**Date and Signature Page**

This technical report summary (the TRS), entitled "Hycroft Property Initial Assessment Technical Report Summary, Humboldt and Pershing Counties, Nevada" is current as of December 31, 2022, and has been prepared by:

---

| | | | |
|:---|:---|:---|:---|
| **Qualified Person or Consulting Firm** | **Responsible for the following sections** | **Signature** | **Date** |
| Ausenco Engineering USA South, Inc | 1.1, 1.2, 1.3, 1.5, 1.8, 1.10, 1.11, 2, 3.1-3.5, 3.7, 3.8, 4, 5, 10, 21, 22.1, 22.3, 22.5, 22.7.2, 23.3, and portions of sections 23.1, 24, and 25. | "signed" | March 27, 2023 |
| Independent Mining Consultants, Inc | 1.4, 1.6, 1.7, 1.9, 6, 7, 8, 9, 11, 20, 22.2, 22.4, 22.6, 22.7.1, 23.1, 23.2 and for portions of sections 23.1, 24, and 25. | "signed" | March 27, 2023 |
| WestLand Engineering & Environmental Services, Inc | 3.6 | "signed" | March 27, 2023 |

---

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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**Table of Contents**

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| | |
|:---|:---|
| 1&nbsp;&nbsp;&nbsp;&nbsp;Executive Summary | 1 |
| 1.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction | 1 |
| 1.2&nbsp;&nbsp;&nbsp;&nbsp;Project Setting | 1 |
| 1.3&nbsp;&nbsp;&nbsp;&nbsp;Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements | 1 |
| 1.4&nbsp;&nbsp;&nbsp;&nbsp;Geology and Mineralization | 2 |
| 1.5&nbsp;&nbsp;&nbsp;&nbsp;History | 2 |
| 1.6&nbsp;&nbsp;&nbsp;&nbsp;Exploration, Drilling and Sampling | 3 |
| 1.7&nbsp;&nbsp;&nbsp;&nbsp;Data Verification | 3 |
| 1.8&nbsp;&nbsp;&nbsp;&nbsp;Metallurgical Testwork | 3 |
| 1.9&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resource Estimation | 4 |
| 1.10&nbsp;&nbsp;&nbsp;&nbsp;Conclusions | 5 |
| 1.11&nbsp;&nbsp;&nbsp;&nbsp;Recommendations | 6 |
| 2&nbsp;&nbsp;&nbsp;&nbsp;Introduction | 7 |
| 2.1&nbsp;&nbsp;&nbsp;&nbsp;Overview | 7 |
| 2.2&nbsp;&nbsp;&nbsp;&nbsp;Qualified Persons | 7 |
| 2.3&nbsp;&nbsp;&nbsp;&nbsp;Site Visits | 8 |
| 2.4&nbsp;&nbsp;&nbsp;&nbsp;Effective Dates | 8 |
| 2.5&nbsp;&nbsp;&nbsp;&nbsp;Sources of Information and References | 8 |
| 2.6&nbsp;&nbsp;&nbsp;&nbsp;Previous Technical Report | 8 |
| 2.7&nbsp;&nbsp;&nbsp;&nbsp;Units and Abbreviations | 8 |
| 3&nbsp;&nbsp;&nbsp;&nbsp;Property description and location | 12 |
| 3.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction | 12 |

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Hycroft Property Page i <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | |
|:---|:---|
| 3.2&nbsp;&nbsp;&nbsp;&nbsp;Property Ownership and Title In Nevada | 12 |
| 3.3&nbsp;&nbsp;&nbsp;&nbsp;Land Status | 14 |
| 3.4&nbsp;&nbsp;&nbsp;&nbsp;Property Agreements and Royalties | 15 |
| 3.5&nbsp;&nbsp;&nbsp;&nbsp;Water Rights | 18 |
| 3.6&nbsp;&nbsp;&nbsp;&nbsp;Liabilities & Encumbrances | 18 |
| 3.6.1&nbsp;&nbsp;&nbsp;&nbsp;Environmental Liabilities | 18 |
| 3.6.2&nbsp;&nbsp;&nbsp;&nbsp;Mine Safety Disclosures | 18 |
| 3.6.3&nbsp;&nbsp;&nbsp;&nbsp;Operating Permits | 18 |
| 3.6.4&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Expansion Permitting and Timelines | 21 |
| 3.6.5&nbsp;&nbsp;&nbsp;&nbsp;Crofoot Heap Leach Facility Closure | 22 |
| 3.7&nbsp;&nbsp;&nbsp;&nbsp;Environmental Considerations | 22 |
| 3.8&nbsp;&nbsp;&nbsp;&nbsp;Social License Considerations | 22 |
| 3.9&nbsp;&nbsp;&nbsp;&nbsp;Significant Risks | 23 |
| 4&nbsp;&nbsp;&nbsp;&nbsp;Accessibility, climate, local resources, infrastructure and physiography | 24 |
| 4.1&nbsp;&nbsp;&nbsp;&nbsp;Access | 24 |
| 4.2&nbsp;&nbsp;&nbsp;&nbsp;Climate | 24 |
| 4.2.1&nbsp;&nbsp;&nbsp;&nbsp;Local Resources and Infrastructure | 24 |
| 4.3&nbsp;&nbsp;&nbsp;&nbsp;Physiography | 25 |
| 4.4&nbsp;&nbsp;&nbsp;&nbsp;Seismicity | 25 |
| 5&nbsp;&nbsp;&nbsp;&nbsp;History | 26 |
| 5.1&nbsp;&nbsp;&nbsp;&nbsp;Regional Mining History | 26 |
| 5.2&nbsp;&nbsp;&nbsp;&nbsp;Exploration History on the Property | 26 |
| 5.3&nbsp;&nbsp;&nbsp;&nbsp;Mine Production on the Property | 28 |
| 6&nbsp;&nbsp;&nbsp;&nbsp;Geological setting, mineralization, and deposit | 30 |

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Hycroft Property Page ii <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| 6.1&nbsp;&nbsp;&nbsp;&nbsp;Geological Setting | 30 |
| 6.1.1&nbsp;&nbsp;&nbsp;&nbsp;Regional Geology | 30 |
| 6.1.2&nbsp;&nbsp;&nbsp;&nbsp;Local Geology | 30 |
| 6.2&nbsp;&nbsp;&nbsp;&nbsp;Mineralization | 32 |
| 6.2.1&nbsp;&nbsp;&nbsp;&nbsp;Brimstone | 32 |
| 6.2.2&nbsp;&nbsp;&nbsp;&nbsp;Vortex | 33 |
| 6.2.3&nbsp;&nbsp;&nbsp;&nbsp;Bay and Boneyard | 34 |
| 6.2.4&nbsp;&nbsp;&nbsp;&nbsp;Central | 35 |
| 6.2.5&nbsp;&nbsp;&nbsp;&nbsp;Camel Hill and Cut 5 Zones | 35 |
| 6.3&nbsp;&nbsp;&nbsp;&nbsp;Alteration | 36 |
| 6.4&nbsp;&nbsp;&nbsp;&nbsp;Deposit Types | 36 |
| 7&nbsp;&nbsp;&nbsp;&nbsp;Exploration | 38 |
| 7.1&nbsp;&nbsp;&nbsp;&nbsp;Drilling | 38 |
| 7.2&nbsp;&nbsp;&nbsp;&nbsp;Additional Exploration | 40 |
| 8&nbsp;&nbsp;&nbsp;&nbsp;Sample preparation, analyses, and security | 41 |
| 8.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction | 41 |
| 8.2&nbsp;&nbsp;&nbsp;&nbsp;Sample Preparation | 41 |
| 8.3&nbsp;&nbsp;&nbsp;&nbsp;Assay Methods | 41 |
| 8.4&nbsp;&nbsp;&nbsp;&nbsp;Sample Security | 42 |
| 8.5&nbsp;&nbsp;&nbsp;&nbsp;Analytical Results | 42 |
| 8.6&nbsp;&nbsp;&nbsp;&nbsp;QP Comment | 42 |
| 9&nbsp;&nbsp;&nbsp;&nbsp;Data verification | 43 |
| 9.1&nbsp;&nbsp;&nbsp;&nbsp;Certificate of Assay Checks | 43 |
| 9.2&nbsp;&nbsp;&nbsp;&nbsp;QA/QC Post-2005 – 2022 | 43 |

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Hycroft Property Page iii <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| 9.2.1&nbsp;&nbsp;&nbsp;&nbsp;Standards 2021 - 2013 | 43 |
| 9.2.2&nbsp;&nbsp;&nbsp;&nbsp;Blanks 2008 - 2014 | 47 |
| 9.2.3&nbsp;&nbsp;&nbsp;&nbsp;Check Assays 2011 - 2012 | 47 |
| 9.2.4&nbsp;&nbsp;&nbsp;&nbsp;Standards 2021 – 2022 | 49 |
| 9.2.5&nbsp;&nbsp;&nbsp;&nbsp;Blank Analysis Results 2021 - 2022 | 49 |
| 9.2.6&nbsp;&nbsp;&nbsp;&nbsp;Duplicate Assays, 2021 - 2022 | 50 |
| 9.2.7&nbsp;&nbsp;&nbsp;&nbsp;DDH vs RC for Post-2000 Samples | 51 |
| 9.2.8&nbsp;&nbsp;&nbsp;&nbsp;Old vs. New Drilling | 51 |
| 9.2.9&nbsp;&nbsp;&nbsp;&nbsp;Downhole Surveys | 52 |
| 9.3&nbsp;&nbsp;&nbsp;&nbsp;QP Comment | 52 |
| 10&nbsp;&nbsp;&nbsp;&nbsp;Mineral Processing and Metallurgical Testing | 54 |
| 10.1&nbsp;&nbsp;&nbsp;&nbsp;Mineralized Materials and Sampling | 54 |
| 10.1.1&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineralization Domains | 54 |
| 10.1.2&nbsp;&nbsp;&nbsp;&nbsp;Samples for Metallurgical Testing | 55 |
| 10.2&nbsp;&nbsp;&nbsp;&nbsp;Comminution Tests | 55 |
| 10.3&nbsp;&nbsp;&nbsp;&nbsp;Flotation | 56 |
| 10.3.1&nbsp;&nbsp;&nbsp;&nbsp;Review of Flotation Testwork | 56 |
| 10.3.2&nbsp;&nbsp;&nbsp;&nbsp;Flotation Time | 60 |
| 10.4&nbsp;&nbsp;&nbsp;&nbsp;Direct Cyanidation | 60 |
| 10.5&nbsp;&nbsp;&nbsp;&nbsp;Concentrate Oxidation Tests | 60 |
| 10.5.1&nbsp;&nbsp;&nbsp;&nbsp;Atmospheric Oxidation – Batch Tests | 63 |
| 10.5.2&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mill Demonstration Plant | 64 |
| 10.5.3&nbsp;&nbsp;&nbsp;&nbsp;Pressure Oxidation | 65 |
| 10.5.4&nbsp;&nbsp;&nbsp;&nbsp;Roasting | 67 |

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Hycroft Property Page iv <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| 10.6&nbsp;&nbsp;&nbsp;&nbsp;Deleterious Elements | 70 |
| 10.7&nbsp;&nbsp;&nbsp;&nbsp;QP Comment | [72](#i0a7d42ce38944ae49bc994086802d94b_22) |
| 11&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resource Estimates | 71 |
| 11.1&nbsp;&nbsp;&nbsp;&nbsp;Model Location | 71 |
| 11.2&nbsp;&nbsp;&nbsp;&nbsp;Database | 71 |
| 11.3&nbsp;&nbsp;&nbsp;&nbsp;Basic Statistics | 72 |
| 11.3.1&nbsp;&nbsp;&nbsp;&nbsp;Geology | 73 |
| 11.3.2&nbsp;&nbsp;&nbsp;&nbsp;Lithology | 73 |
| 11.3.3&nbsp;&nbsp;&nbsp;&nbsp;Alteration | 73 |
| 11.3.4&nbsp;&nbsp;&nbsp;&nbsp;Structure | 74 |
| 11.4&nbsp;&nbsp;&nbsp;&nbsp;Domains | 77 |
| 11.5&nbsp;&nbsp;&nbsp;&nbsp;Assay Caps | 77 |
| 11.6&nbsp;&nbsp;&nbsp;&nbsp;Bench Height Confirmation | 78 |
| 11.7&nbsp;&nbsp;&nbsp;&nbsp;Composites | 79 |
| 11.8&nbsp;&nbsp;&nbsp;&nbsp;Variography | 82 |
| 11.9&nbsp;&nbsp;&nbsp;&nbsp;Block Grade Estimation | 85 |
| 11.9.1&nbsp;&nbsp;&nbsp;&nbsp;Gold, Silver and Mercury | 85 |
| 11.9.2&nbsp;&nbsp;&nbsp;&nbsp;Cyanide Ratio | 89 |
| 11.9.3&nbsp;&nbsp;&nbsp;&nbsp;Sulfide Sulfur | 89 |
| 11.9.4&nbsp;&nbsp;&nbsp;&nbsp;Density | 91 |
| 11.9.5&nbsp;&nbsp;&nbsp;&nbsp;Stockpile Grade Estimation | 91 |
| 11.9.6&nbsp;&nbsp;&nbsp;&nbsp;Treatment of 1982 – 1987 Data | 92 |
| 11.10&nbsp;&nbsp;&nbsp;&nbsp;Classification | 93 |
| 11.11&nbsp;&nbsp;&nbsp;&nbsp;Model Verification | 93 |

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Hycroft Property Page v <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| 11.11.1&nbsp;&nbsp;&nbsp;&nbsp;Swath Plots | 93 |
| 11.11.2&nbsp;&nbsp;&nbsp;&nbsp;Smear Check | 96 |
| 11.11.3&nbsp;&nbsp;&nbsp;&nbsp;Reconciliation | 97 |
| 11.12&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resources | 97 |
| 12&nbsp;&nbsp;&nbsp;&nbsp;Mineral Reserve Estimate | 104 |
| 13&nbsp;&nbsp;&nbsp;&nbsp;Mining Methods | 105 |
| 14&nbsp;&nbsp;&nbsp;&nbsp;Processing and Recovery Methods | 106 |
| 15&nbsp;&nbsp;&nbsp;&nbsp;Infrastructure | 107 |
| 16&nbsp;&nbsp;&nbsp;&nbsp;Market Studies | 108 |
| 17&nbsp;&nbsp;&nbsp;&nbsp;Environmental Studies, permitting, and plans, negotiations, or agreements with local individuals or groups | 109 |
| 18&nbsp;&nbsp;&nbsp;&nbsp;Capital and Operating Costs | 110 |
| 19&nbsp;&nbsp;&nbsp;&nbsp;Economic Analysis | 111 |
| 20&nbsp;&nbsp;&nbsp;&nbsp;Adjacent PRoperties | 112 |
| 21&nbsp;&nbsp;&nbsp;&nbsp;Other Relevant Data And Information | 113 |
| 22&nbsp;&nbsp;&nbsp;&nbsp;Interpretations and Conclusions | 114 |
| 22.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction | 114 |
| 22.2&nbsp;&nbsp;&nbsp;&nbsp;Geology and Mineralization | 114 |
| 22.3&nbsp;&nbsp;&nbsp;&nbsp;History | 114 |
| 22.4&nbsp;&nbsp;&nbsp;&nbsp;Exploration and Drilling | 114 |
| 22.5&nbsp;&nbsp;&nbsp;&nbsp;Metallurgical Testing | 115 |
| 22.6&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resources | 116 |
| 22.7&nbsp;&nbsp;&nbsp;&nbsp;Risks | 116 |
| 22.7.1&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resource Estimate | 116 |

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Hycroft Property Page vi <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| 22.7.2&nbsp;&nbsp;&nbsp;&nbsp;Mineral Processing | 116 |
| 23&nbsp;&nbsp;&nbsp;&nbsp;Recommendations | 117 |
| 23.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction | 117 |
| 23.2&nbsp;&nbsp;&nbsp;&nbsp;Proposed Exploration Program | 117 |
| 23.3&nbsp;&nbsp;&nbsp;&nbsp;Proposed Metallurgical Studies | 117 |
| 24&nbsp;&nbsp;&nbsp;&nbsp;References | 118 |
| 25&nbsp;&nbsp;&nbsp;&nbsp;Reliance on Information Provided By The Registrant | 121 |

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List of Appendices

 Appendix A – Hycroft Patented Claims <br> Appendix B – Hycroft Unpatented Claims

List of Tables

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| | |
|:---|:---|
| Table 1-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineral Resources as of March 27, 2023, Imperial Units | 5 |
| Table 2-1:&nbsp;&nbsp;&nbsp;&nbsp;Unit Abbreviations | 9 |
| Table 2-2:&nbsp;&nbsp;&nbsp;&nbsp;Name Abbreviations | 10 |
| Table 3-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Annual Land Holding Costs | 15 |
| Table 3-2:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Operating Permits | 19 |
| Table 3-3:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Miscellaneous Permits | 20 |
| Table 3-4:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Permits and Annual Fees | 20 |
| Table 3-5:&nbsp;&nbsp;&nbsp;&nbsp;Right-of-Way Payment and Renewal Schedule | 21 |
| Table 4-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Water Wells and Permitted Yearly Consumption | [2](#i0a7d42ce38944ae49bc994086802d94b_16)5 |
| Table 5-1:&nbsp;&nbsp;&nbsp;&nbsp;Au and Ag Sales from 2019 to 2022 | 29 |

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Hycroft Property Page vii <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| Table 9-1:&nbsp;&nbsp;&nbsp;&nbsp;Nearest Neighbor Sample Comparison of RC Gold Composites versus DDH Gold Composites | 51 |
| Table 9-2:&nbsp;&nbsp;&nbsp;&nbsp;Nearest Neighbor Sample Comparison of 1982-1987 Gold Assays versus Post-2005 Gold Assays | 52 |
| Table 10-1:&nbsp;&nbsp;&nbsp;&nbsp;Average Sulfur Contents of Oxide, Transition and Sulfide Mineralized Materials | 55 |
| Table 10-2:&nbsp;&nbsp;&nbsp;&nbsp;Summary of Test Samples | 55 |
| Table 10-3:&nbsp;&nbsp;&nbsp;&nbsp;Grindability Test Summary | 56 |
| Table 10-4:&nbsp;&nbsp;&nbsp;&nbsp;G&T Composites 1 through 24 Flotation Test Results | 58 |
| Table 10-5:&nbsp;&nbsp;&nbsp;&nbsp;G&T Composites M-1 through M-17 Flotation Test Results | 59 |
| Table 10-6:&nbsp;&nbsp;&nbsp;&nbsp;Flotation Reagent Schemes Studied | 60 |
| Table 10-7:&nbsp;&nbsp;&nbsp;&nbsp;Estimated Metallurgical Recoveries from 2016 Feasibility Study – Au and Ag | 63 |
| Table 10-8:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Alkaline POX Testwork Summary | 66 |
| Table 10-9:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Acid POX Testwork Summary | 68 |
| Table 10-10:&nbsp;&nbsp;&nbsp;&nbsp;Deleterious Element Assay | [7](#i0a7d42ce38944ae49bc994086802d94b_22)0 |
| Table 11-1:&nbsp;&nbsp;&nbsp;&nbsp;Block Size and Model Size | [73](#i0a7d42ce38944ae49bc994086802d94b_22) |
| Table 11-2:&nbsp;&nbsp;&nbsp;&nbsp;Data Available for the Assembly of the Resource Model for Au, and Ag | 72 |
| Table 11-3:&nbsp;&nbsp;&nbsp;&nbsp;Assay Database (No Stockpile Assays, and No Drilling from 1982 through 1987) | 72 |
| Table 11-4:&nbsp;&nbsp;&nbsp;&nbsp;Population Domains for Grade Estimation | 77 |
| Table 11-5:&nbsp;&nbsp;&nbsp;&nbsp;Assay Cap Values | 78 |
| Table 11-6:&nbsp;&nbsp;&nbsp;&nbsp;Basic Statistics of 40-ft Length Composites, In-Situ Rock, Eliminating Years 1982 to 1987 | 80 |
| Table 11-7:&nbsp;&nbsp;&nbsp;&nbsp;Grade Estimation Parameters for Au, Ag, and Mercury | 87 |
| Table 11-8:&nbsp;&nbsp;&nbsp;&nbsp;Estimation Parameters for Cyanide Ratio | 89 |
| Table 11-9:&nbsp;&nbsp;&nbsp;&nbsp;Sulfide Sulfur Estimation Parameters | 90 |

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Hycroft Property Page viii <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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|:---|:---|
| Table 11-10:&nbsp;&nbsp;&nbsp;&nbsp;Sulfide Sulfur Default Values if Not Estimated | 90 |
| Table 11-11:&nbsp;&nbsp;&nbsp;&nbsp;Density Assigned to the Block Model | 91 |
| Table 11-12:&nbsp;&nbsp;&nbsp;&nbsp;Stockpile Grade Estimation of Assignments | 92 |
| Table 11-13:&nbsp;&nbsp;&nbsp;&nbsp;IMC Smear Check, Below End 2021 Topography, Without stockpile blocks or drilling, and without data from 1982 through 1987 Drilling. | 96 |
| Table 11-14:&nbsp;&nbsp;&nbsp;&nbsp;Economic Parameters for Mineral Resources | 100 |
| Table 11-15:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineral Resources as of March 2023, Imperial Units | 102 |
| Table 11-16:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineral Resources as of March 2023, Metric Units | 103 |
| Table 25-1:&nbsp;&nbsp;&nbsp;&nbsp;Information Provided by Hycroft | 122 |

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List of Figures

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| Figure 3-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mine Property Location Map | 13 |
| Figure 3-2:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mine Claims Map | 16 |
| Figure 3-3:&nbsp;&nbsp;&nbsp;&nbsp;Current Property and Facilities Layout (2023) | 17 |
| Figure 5-1:&nbsp;&nbsp;&nbsp;&nbsp;Predominant Mineralization Zones Identified for the Mine. | 27 |
| Figure 6-1:&nbsp;&nbsp;&nbsp;&nbsp;Stratigraphic Column for Hycroft Deposit Area | 31 |
| Figure 6-2:&nbsp;&nbsp;&nbsp;&nbsp;Simplified East–West Cross-Sections through the Sulphur District | 32 |
| Figure 6-3:&nbsp;&nbsp;&nbsp;&nbsp;Brimstone Generalized Geology Cross-Section | 33 |
| Figure 6-4:&nbsp;&nbsp;&nbsp;&nbsp;Vortex to Camel Hill Generalized Section | 34 |
| Figure 6-5:&nbsp;&nbsp;&nbsp;&nbsp;Bay Geologic Cross-Section | 35 |
| Figure 6-6:&nbsp;&nbsp;&nbsp;&nbsp;Generalized Hycroft Epithermal Diagram | 37 |
| Figure 7-1:&nbsp;&nbsp;&nbsp;&nbsp;Drillhole Collar Locations | 39 |

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| Figure 9-1:&nbsp;&nbsp;&nbsp;&nbsp;Results of Submitted Gold Standards 2005 - 2013 | 45 |
| Figure 9-2:&nbsp;&nbsp;&nbsp;&nbsp;Results of Submitted Silver Standards 2005-2013 | 46 |
| Figure 9-3:&nbsp;&nbsp;&nbsp;&nbsp;Results of Blank Submissions | 47 |
| Figure 9-4:&nbsp;&nbsp;&nbsp;&nbsp;Check Assay Results, Fire Assay Gold 2011 - 2012 | 48 |
| Figure 9-5:&nbsp;&nbsp;&nbsp;&nbsp;Check Assay Results, Fire Assay Silver 2011 – 2011 | 48 |
| Figure 9-6:&nbsp;&nbsp;&nbsp;&nbsp;Standards Results, 2021 – 2022 | 49 |
| Figure 9-7:&nbsp;&nbsp;&nbsp;&nbsp;Blank Results, 2021 – 2022 | 50 |
| Figure 10-1:&nbsp;&nbsp;&nbsp;&nbsp;Recovery vs. Time Plot, G&T Kamloops Tests, M Composites | 62 |
| Figure 10-2:&nbsp;&nbsp;&nbsp;&nbsp;Au Extraction vs. Sulfide Oxidation | 64 |
| Figure 10-3:&nbsp;&nbsp;&nbsp;&nbsp;Oxidation of Central Flotation Concentrate: Sulfate Spike Test | 65 |
| Figure 10-4:&nbsp;&nbsp;&nbsp;&nbsp;Demonstration Plant Cyanide Leach Recovery of Au and Ag | 65 |
| Figure 11-1:&nbsp;&nbsp;&nbsp;&nbsp;East–West Cross-Section 43,000N Looking North, showing Hycroft Rock Types | 75 |
| Figure 11-2:&nbsp;&nbsp;&nbsp;&nbsp;East–West Cross-Section 43,000N Looking North, showing Hycroft Alterations | 75 |
| Figure 11-3:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Structure Interpretation | 76 |
| Figure 11-4:&nbsp;&nbsp;&nbsp;&nbsp;Bench Height Analysis | 79 |
| Figure 11-5:&nbsp;&nbsp;&nbsp;&nbsp;Variograms for Silicic Material Between the West Splay and Central Faults | 83 |
| Figure 11-6:&nbsp;&nbsp;&nbsp;&nbsp;Variograms in Silicic Material Between the Central Fault and the East Fault Footwall | 84 |
| Figure 11-7:&nbsp;&nbsp;&nbsp;&nbsp;Horizontal Swath Plots for Gold and Silver | 94 |
| Figure 11-8:&nbsp;&nbsp;&nbsp;&nbsp;Vertical Swath Plots for Gold and Silver | 95 |
| Figure 20-1:&nbsp;&nbsp;&nbsp;&nbsp;Location of Rosebud Property | [11](#i0a7d42ce38944ae49bc994086802d94b_40)2 |

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1&nbsp;&nbsp;&nbsp;&nbsp;EXECUTIVE SUMMARY

1.1&nbsp;&nbsp;&nbsp;&nbsp;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 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 in the Company's Initial Assessment, filed on EDGAR on Form 8-K on February 22, 2022. The mineral resource estimate utilizes a milling and pressure oxidation process for sulfide mineralization and heap leaching process for oxide and transition mineralization. This TRS includes drill results received through December 9, 2022 which formed the basis of this mineral resource estimation model and this updated report.

1.2&nbsp;&nbsp;&nbsp;&nbsp;Project Setting

The Hycroft property (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 co-ordinates 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.

Existing facilities on site include two administration buildings, a mobile maintenance shop, a light vehicle maintenance shop, a warehouse, leach pads, primary, secondary and tertiary crushing systems, two Merrill-Crowe process plants, and a refinery.

1.3&nbsp;&nbsp;&nbsp;&nbsp;Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements

The Mine property consists of 30 private parcels with patented claims that comprise approximately 1,787 acres, and 3,247 unpatented lode and placer mining claims that encompass approximately 62,298 acres. The combined patented and unpatented claims comprise approximately 64,085 acres. Much of the project area is located on un-surveyed public and private land. The following is a list of land acquisitions/transactions made over the years which constitute the entire Hycroft land claim package:

&nbsp;&nbsp;&nbsp;&nbsp;The Crofoot property and approximately 3,500 acres of claims were acquired by Vista Gold Corporation (Vista) in 1985.

&nbsp;&nbsp;&nbsp;&nbsp;The Crofoot property, originally held under lease, is owned by Hycroft subject to a 4% Net Profits Royalty (NPR) retained by the former owners, with a cap of US$7.6 M, of which US$3.1M has been paid.

&nbsp;&nbsp;&nbsp;&nbsp;The Lewis property and approximately 8,700 acres of claims were acquired by Vista in early 1987.

&nbsp;&nbsp;&nbsp;&nbsp;In 2006, approximately 13,100 acres of additional claims were staked by Vista.

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

These claims are contiguous or proximate to the original Crofoot and Lewis claims. In 1996, the lease/purchase agreement was amended to provide for minimum advance royalty payments of US$120,000 on January 1 of each year in which mining occurs on patented and unpatented claims. The sum of payments for the Crofoot property is capped at US$7.6 M, of which US$3.1 M has been paid through December 2022. An additional US$120,000 annually is due if mineralized material production exceeds 5 Mtons from the Crofoot property on either patented or unpatented claims in any calendar year. All advanced royalty payments are taken as a credit against the NPI.

Effective May 29, 2020 Sprott Private Resource Lending II (CO) acquired a 1.5% Net Smelter Returns Royalty on the property.

Payment of annual claim holding fees to the Bureau of Land Management (BLM) and Humboldt and Pershing Counties are made every third calendar quarter (Q3). Payments are current through the 2021-2022 claim years, with

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US$593,727 paid in Q3 2022. Payment of annual land holding fees and property taxes is required to continue to hold the Hycroft property in good standing. Hycroft controls all surface and mineral rights within the Hycroft mineral resource area. No further land acquisition is required for operation of the mine and processing facilities as presently designed.

Water resources are sufficient at the Mine and controlled under 11 separate water right permits administered by the Nevada Division of Water Resources (NDWR). These permits are either held in ownership by Hycroft or leased to Hycroft. Hycroft controls a total of 20,414.9-acre feet per year (6.65 billion gallons per year) in the Black Rock Desert Hydrographic Basin.

1.4&nbsp;&nbsp;&nbsp;&nbsp;Geology and Mineralization

The Hycroft deposit is a low-sulfidation, epithermal, hot springs system that contains Au and Ag mineralization. Radiometric dates indicate that the main phase of Au and Ag mineralization formed four million years ago, 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 0.4 to 2 million years ago 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 can be variable but typically averages between 1.5 and 2.0% sulfide sulfur.

The Hycroft deposit is typically broken into six major zones based on geology, mineralization, and alteration. These include Brimstone, Vortex, Central, Bay, Boneyard, and Camel Hill zones. The boundaries are typically the major faults, namely Break, East and Ramp.

1.5&nbsp;&nbsp;&nbsp;&nbsp;History

The Mine is located in the Sulfur District, where mining for native sulfur began in the late 1800's. Then, in the early part of the 20th 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 had 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.

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 Cut-4 pits along the Central Zone. Production from the Brimstone Pit commenced in 1985 and continued until December 1998. The Mine was placed on a care and maintenance program through 2007. During 1983 to 1998, the Mine produced approximately 1.2 Moz of Au and 2.5 Moz of Ag. An additional 58,700 oz of Au was produced from the leaching operations from 1999 through 2004. 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 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. In late 2018, Hycroft began construction of new leach pads. In April 2019, active mining began with

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a focus on transition and sulfide minerals but were set aside for future processing. Only oxide ore was placed on the new leach pads during this time with production of Au and Ag continuing through until 2021. From September 2007 through July 2019 metal sales have totaled approximately 900,000 oz of Au and 5.0M oz 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 105,500 ounces of Au and 615,000 ounces of Ag.

1.6&nbsp;&nbsp;&nbsp;&nbsp;Exploration, Drilling and Sampling

The Hycroft district includes data from 1981 to 2022 and includes 5,601 holes, representing 2,588,826 ft of drilling. At this time, there are 5,532 drillholes in the resource model area which includes holes drilled for stockpile definition. During 2021 and 2022, there were 171 new holes added to the database.

In addition to drilling activity, Hycroft has also conducted geophysical surveys, soil and rock chip sampling programs, field mapping, historical data compilation, and regional reconnaissance around the Mine area. In 2022, a hyperspectral flight of the property was conducted. These efforts are designed to improve the understanding of the known mineralization, as well as provide data for further exploration of the greater property position.

1.7&nbsp;&nbsp;&nbsp;&nbsp;Data Verification

The Hycroft and IMC team have put significant effort toward the verification of the database during 2022. That work has included:

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

2)&nbsp;&nbsp;&nbsp;&nbsp;Analysis of the QAQC data used by Hycroft and previous owners from 2005 to 2022. This work was done in two stages representing different time periods.

3)&nbsp;&nbsp;&nbsp;&nbsp;Analysis of Diamond drilling (DDH) versus Reverse Circulation Drilling (RC) with the post-2005 drilling to confirm that the two methods can be comingled and utilized for the estimation of mineral resources.

4)&nbsp;&nbsp;&nbsp;&nbsp;Comparison of Pre-2005 drilling versus Post-2005 drilling to verify the application of the older data, because the Pre-2005 data QA/QC information was not available.

The updated statement of mineral resource reflects information developed in 2022. The four primary areas include:

1)&nbsp;&nbsp;&nbsp;&nbsp;Additional drilling assay results from 2021 and the assay results received through December 9, 2022 have been added to the database. This data came from 171 holes containing 23,804 gold fire assays and 23,780 silver fire assays.

2)&nbsp;&nbsp;&nbsp;&nbsp;Approximately 165,000 silver fire assay samples previously included in the database as "no assay" results were found to have trace level assay values<sup>1</sup>. As a result, the "no assay" sample values were replaced with the lower "trace sample" values. "Trace assay" sample values are less than the grade of economic mineralization which is 0.399 oz/ton.

3)&nbsp;&nbsp;&nbsp;&nbsp;The February 2022 resource statement reflected downward adjustments for reported bias in grade estimation from pre-2000 gold fire assay values. Detailed review of historical assay certificates confirmed that the database used to develop the mineral resource corresponds to the original assay certificates, therefore the downward adjustment was removed.

4)&nbsp;&nbsp;&nbsp;&nbsp;Detailed analysis of the earliest drilling at Hycroft from 1982 to 1987 indicated that the assays were high biased. As a result, the historical assays from this period have been adjusted downward and taking a conservative approach, the resource from this time period has been classified as inferred material only.

1.8&nbsp;&nbsp;&nbsp;&nbsp;Metallurgical Testwork

From 2009 to 2016, Hycroft metallurgical test programs conducted on the Hycroft deposit consisted of a series of comminution, flotation, concentrate oxidation, and cyanide leaching tests on mineralized materials, flotation tails, and oxidized concentrate of sulfide mineralized materials. Samples for metallurgical testwork were mostly derived from drilled core samples selected to represent the materials from the five main mineralization domains. Testwork was conducted by G&T Kamloops Laboratories (G&T) and SGS Mineral Services, Lakefield (SGS), both in Canada, and by

<sup>1</sup> "No Assay" sample values allow the model to estimate the mineralization in the area between two drill holes with known mineralization values. "Trace Assay" values are approximately one-half the detection limit of the calibrated laboratory instrument used in assessing assay samples.

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Hazen Research Inc. (Hazen) in Colorado. POX testwork was performed by Kappes, Cassiday & Associates (KCA), SGS and Hazen.

Comminution testwork demonstrate the Hycroft rock mineralization exhibits very high rock competency both in the SAG and ball mills.

Flotation testwork can be summarized as follows:

&nbsp;&nbsp;&nbsp;&nbsp;Au recoveries from flotation at grinds ranging from 100 to 150 microns were 80% but tended to decrease with grinds finer than 100 microns or coarser than 150 microns;

&nbsp;&nbsp;&nbsp;&nbsp;Flotation tests performed at neutral pH generally outperformed tests conducted at basic pH;

&nbsp;&nbsp;&nbsp;&nbsp;Testwork using various frother and promoter reagents were conducted to optimize flotation results; and

&nbsp;&nbsp;&nbsp;&nbsp;An average mass pull of 13.8% was observed for some tests. The same set of tests indicated a flotation time of 19 minutes for gold and 17 minutes for silver to achieve ~ 80% target recoveries for both.

Oxidation testwork on Hycroft concentrates from the aforementioned flotation testwork included pressure oxidation (POX), roasting, ambient pressure alkaline oxidation and other oxidation methods including chlorination, fine grinding with intense cyanidation, and the Albion process. The following is a summary of the results of the predominant testwork studies conducted.

Results from early batch testwork conducted in 2009 results were positive and indicated that Hycroft concentrates were amenable to oxidation under atmospheric conditions, using trona to create the appropriate alkaline environment to promote oxidation. Pilot plant testing on Hycroft's three main domains confirmed the findings of the batch tests. Different material types oxidized at varying rates, with Vortex materials oxidizing the fastest followed by Central and then Brimstone. The Master Composite oxidation rate was comparable to Brimstone. At 60% sulfide oxidation, 85% Au and 80-84% Ag recoveries were achievable by atmospheric oxidation for all material types tested.

The viability of the alkaline atmospheric oxidation (AAO) process using trona was demonstrated with a 10-ton per day demonstration plant operated at site from 2016 to 2017. This plant included primary grinding, followed by flotation, atmospheric oxidation, cyanide leaching, countercurrent decantation (CCD) and precipitation. The results indicated Au recoveries peaked at 80% and Ag recoveries were at 90% for the Brimstone mineralized materials.

POX was evaluated in the development of the mineral resource, in part, due to the consistency of sulfide oxidation at elevated pressure and the observation of improved overall gold and silver recoveries.

1.9&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resource Estimation

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.

&nbsp;&nbsp;&nbsp;&nbsp;Run of Mine (ROM) oxide material will be directed to cyanide heap leaching, producing a gold and silver doré or

&nbsp;&nbsp;&nbsp;&nbsp;Sulfide and transitional material will be directed to a crushing, flotation milling followed by pressure oxidation (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 a computer based on the block model of the mineralization and pit optimization software to determine the mineralization with reasonable expectation of economic extraction as defined by S-K 1300.

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 costs. The cutoff is $0.01 / ton in terms of income after subtraction of mining, processing, and G&A costs.

Metal prices for Mineral Resource were US$1,900/oz Au and US$24.50/oz Ag. Spot prices for gold and silver in 2022 have ranged from US$1,628 to US$2,039/oz Au and US$17.77 to $US26.18/oz Ag respectively. The prices selected for determination of mineral resources are an approximation of current metal prices and do not include extensive price extrapolation. Table 1-1 summarizes the mineral resource in imperial units. An additional table in metric units is included in Section 11.

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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 engineered and estimated parameters of operating costs, recovery, and metal price. 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:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineral Resources as of March 27, 2023, Imperial Units

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|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Approximate<br>Cutoff, AuEq<br>Au oz/ton** | **Ktons** | **Au<br>oz/ton** | **Ag<br>oz/ton** | **Sulfide<br>Sulfur%** | **Au Contained Ounces (000)** | **Ag Contained Ounces (000)** |
| Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource |
| &nbsp;&nbsp;Measured | 0.002 | 94162 | 0.008 | 0.17 | 2.14 | 753 | 15725 |
| &nbsp;&nbsp;Indicated | 0.002 | 59751 | 0.007 | 0.13 | 1.78 | 436 | 7529 |
| &nbsp;&nbsp;Meas + Ind | 0.002 | 153913 | 0.008 | 0.15 | 2.00 | 1189 | 23254 |
| &nbsp;&nbsp;Inferred | 0.002 | 46118 | 0.007 | 0.14 | 1.62 | 337 | 6549 |
| Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process |
| &nbsp;&nbsp;&nbsp;Measured | 0.010 | 402735 | 0.013 | 0.50 | 1.78 | 5236 | 200965 |
| &nbsp;&nbsp;&nbsp;Indicated | 0.010 | 346308 | 0.012 | 0.39 | 1.58 | 4156 | 136445 |
| &nbsp;&nbsp;&nbsp;Meas + Ind | 0.010 | 749043 | 0.013 | 0.45 | 1.69 | 9391 | 337410 |
| &nbsp;&nbsp;&nbsp;Inferred | 0.010 | 249494 | 0.012 | 0.36 | 1.52 | 3019 | 89568 |
| Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant |
| &nbsp;&nbsp;&nbsp;Measured | 0.002 - 0.010 | 496897 | 0.012 | 0.44 | 1.85 | 5989 | 216690 |
| &nbsp;&nbsp;&nbsp;Indicated | 0.002 - 0.010 | 406059 | 0.011 | 0.35 | 1.61 | 4592 | 143974 |
| &nbsp;&nbsp;&nbsp;Meas + Ind | 0.002 - 0.010 | 902956 | 0.012 | 0.40 | 1.74 | 10581 | 360664 |
| &nbsp;&nbsp;&nbsp;Inferred | 0.002 - 0.010 | 295612 | 0.011 | 0.33 | 1.54 | 3356 | 96117 |
|  |  |  | **Total material in the Pit (Ktons) =** | **Total material in the Pit (Ktons) =** | **Total material in the Pit (Ktons) =** | **Total material in the Pit (Ktons) =** | **3631287** |

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Notes:

Mineral resources based on metal prices of $1,900/troy oz Au and $24.50/troy oz Ag

Cutoffs are income – process cost = NPR = NSR – Process Opex

Numbers may not match exactly due to rounding.

Mineral resources are contained within a computer-generated optimized pit. Total material in that pit is approximately 3.63 billion tons.

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

1.10&nbsp;&nbsp;&nbsp;&nbsp;Conclusions

IMC developed the Hycroft deposit block model based on 2,537,335 ft of drilling from 5,532 drillholes.

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 rock mineralization exhibits very high rock competency. Flotation at grinds ranging from 100 to 150 microns at neutral pH with strong non-selective sulfide collectors showed Au and Ag recoveries. Oxidation testwork on Hycroft concentrates from the aforementioned flotation testwork improved recoveries with POX results in the mid-90s and 80s for Au and Ag, respectively.

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:

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&nbsp;&nbsp;&nbsp;&nbsp;ROM cyanide heap leaching of oxide ore; and

&nbsp;&nbsp;&nbsp;&nbsp;Milling, Flotation, POX followed by Cyanide Leach and Merrill-Crowe.

1.11&nbsp;&nbsp;&nbsp;&nbsp;Recommendations

The Ausenco QPs recommend Hycroft proceed with a further study to develop a process plant to treat sulfide ore in addition to its oxide heap leaching capability provided it updates and improves the interpretation of the fault boundaries, major rock types, and alteration, and specifically drill cores to target areas within the mine plan that are not well-defined and update the slope stability.

Ausenco also recommend additional testwork focusing on optimizing grind size and mass pull percentage, flotation reagent suite, POX, equipment sizing, residence times, lime/limestone, and oxygen consumption. Also recommended is that Hycroft obtain solid separation data and flocculant requirements, optimize cyanide consumption and reagent use in cyanide destruction.

IMC recommends on-going data diligence and clean up along with targeted drilling as budgets and time allow.

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2&nbsp;&nbsp;&nbsp;&nbsp;INTRODUCTION

2.1&nbsp;&nbsp;&nbsp;&nbsp;Overview

This Technical Report Summary (TRS) summarizes the results of an Initial Assessment and updates the mineral resource estimate for the Mine located in northwestern Nevada. The work has been prepared at the request of Hycroft Mining Holding Corporation (Hycroft). The report follows the requirements and outline as described in the U.S. Securities and Exchange Commission ruling S-K Subpart 1300 (S-K1300). This TRS has been completed by Ausenco, IMC and Westland.

The updated statement of mineral resource reflects information developed in 2022. The four primary areas include:

1)&nbsp;&nbsp;&nbsp;&nbsp;Additional drilling assay results from 2021 and the assay results received through December 9, 2022 have been added to the database. This data came from 171 holes containing 23,804 gold fire assays and 23,780 silver fire assays.

2)&nbsp;&nbsp;&nbsp;&nbsp;Approximately 165,000 silver fire assay samples previously included in the database as "no assay" results were found to have trace level assay values<sup>2</sup>. As a result, the "no assay" sample values were replaced with the lower "trace sample" values. "Trace assay" sample values are ½ the detection limit of the laboratory instrument and less than the grade of economic mineralization.

3)&nbsp;&nbsp;&nbsp;&nbsp;The February 2022 resource statement reflected downward adjustments for reported bias in grade estimation from pre-2000 gold fire assay values. Detailed review of historical assay certificates confirmed that the database used to develop the mineral resource corresponds to the original assay certificates, therefore the downward adjustment was removed.

4)&nbsp;&nbsp;&nbsp;&nbsp;Detailed analysis of the earliest drilling at Hycroft from 1982 to 1987 indicated that the assays were high biased. As a result, the historical assays from this period have been adjusted downward and taking a conservative approach, the resource from this time period has been classified as inferred material only.

This TRS supersedes all previous technical studies, including the TRS filed on EDGAR as on Form 8-K on February 22, 2022.

The mineral resource is based on information provided by Hycroft which has been checked and validated wherever possible by IMC. The calculations and interpretations presented here are the work of IMC, who takes responsibility for the published mineral resource.

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 Qualified Persons 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 2000 lbs. Ktons means 1000 short tons. Precious metal grades are presented in units of troy ounces per short ton (oz/ton).

2.2&nbsp;&nbsp;&nbsp;&nbsp;Qualified Persons

Below is a list of the firms that acted as Qualified Persons (QPs) in the preparation of this Technical Report Summary:

&nbsp;&nbsp;&nbsp;&nbsp;Ausenco Engineering South USA, Inc. is responsible for sections 1.1, 1.2, 1.3, 1.5, 1.8, 1.10, 1.11, 2, 3.1-3.5, 3.7, 3.8, 4, 5, 10, 21, 22.1, 22.3, 22.5, 22.7.2, 23.3, and portions of sections 23.1, 24, and 25.

&nbsp;&nbsp;&nbsp;&nbsp;Independent Mining Consultants, Inc. is responsible for sections 1.4, 1.6, 1.7, 1.9, 6, 7, 8, 9, 11, 20, 22.2, 22.4, 22.6 22.7.1, 23.1, 23.2 and for portions of sections 24, and 25.

&nbsp;&nbsp;&nbsp;&nbsp;WestLand Engineering & Environmental Services, Inc. is responsible for subsection 3.6.

<sup>2</sup> "No Assay" sample values allow the model to estimate the mineralization in the area between two drill holes with known mineralization values. "Trace Assay" values are approximately one-half the detection limit of the calibrated laboratory instrument used in assessing assay samples.

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2.3&nbsp;&nbsp;&nbsp;&nbsp;Site Visits

Ausenco field experts completed a site visit of the Hycroft property on April 8, 2021 to inspect the existing infrastructure.

IMC Qualified Persons, John Marek P.E. and Anh D. Nguyen, P.E. visited the Hycroft property on August 5, 2021. Their purpose was to review the existing core and logs.

2.4&nbsp;&nbsp;&nbsp;&nbsp;Effective Dates

The overall Report effective date is March 27, 2023.

2.5&nbsp;&nbsp;&nbsp;&nbsp;Sources of Information and References

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

2.6&nbsp;&nbsp;&nbsp;&nbsp;Previous Technical Report

Hycroft Mining Holding Corporation previously filed the following Technical Report Summary:

&nbsp;&nbsp;&nbsp;&nbsp;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.

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

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:

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

2.7&nbsp;&nbsp;&nbsp;&nbsp;Units and Abbreviations

Table 2-1:&nbsp;&nbsp;&nbsp;&nbsp;Unit Abbreviations

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|:---|:---|
| **Unit** | **Description** |
| ac | acre |
| asl | above sea level |
| Axb | Hardness of ore in term of impact breakage, unitless |
| B | billion |
| Btons | billion short tons |
| bgs | below ground surface |
| °C | Celsius |
| D | day |
| °F | Fahrenheit |
| fasl | feet above sea level |
| ft | feet |
| G | gravity |
| g | gallon |
| gpm | gallons per minute |
| g/y | gallons per year |
| Hp | horsepower |
| in. | inch |
| Kg. | kilogram |
| ktons | kilo short tons |
| kV | kilovolt |
| lb | pound |
| M | million |
| mi | mile |
| mi<sup>2</sup> | square mile |
| Mm | millimeters |
| Mtons | million short tons |
| Min. | minute |
| Moz | Million ounces |
| oz | ounce |
| oz/ton | ounces per short ton |
| oz/g | ounces per gallon |
| pcf | pounds per cubic foot |
| ppm | parts per million |
| psig | gauge pressure |
| ton | short ton |
| ton/d | short tons per day |
| US$ | United States dollars |
| wt/wt | weight percent |
| % | percent |

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Table 2-2:&nbsp;&nbsp;&nbsp;&nbsp;Name Abbreviations

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| | |
|:---|:---|
| **Name** | **Description** |
| AAO | Atmospheric alkaline oxidation |
| Ag | silver |
| Au | gold |
| Ausenco | Ausenco Engineering USA South, Inc. |
| BLM | Bureau of Land Management |
| BMRR | Bureau of Mining Regulation and Reclamation |
| CCD | Countercurrent decantation |
| CFR | Code of Federal Regulations |
| CS | Carbon Steel |
| Duval | Duval Corporation |
| EA | Environmental Assessment |
| EIS | Environmental Impact Statement |
| EMS | EM Strategies |
| G&T | G&T Kamloops Laboratories |
| Golder | Golder Associates USA Inc., a member of WSP |
| Hazen | Hazen Research Inc. |
| Hycroft | Hycroft Mining Holding Corporation |
| ICP | Inductively coupled Plasma |
| IMC | Independent Mining Consultants, Inc. |
| KCA | Kappes, Cassiday & Associates |
| LECO | Laboratory Equipment Corporation |
| LOM | Life of Mine |
| Mill+ConcPOX | pressure oxidation treatment of the concentrates |
| MSHA | Mine Safety and Health Administration |
| MWWAI | Michael W. West and Associates Inc |
| NaHS | Sodium hydrosulfide |
| NAC | Nevada Administrative Code |
| NaCN | Sodium cyanide |
| NDEP | Nevada Department of Environmental Protection |
| NDOW | Nevada Department of Wildlife |
| NDWR | Nevada Division of Water Resources |
| NEPA | National Environmental Policy Act |
| NHLF | North Heap Leach Facility |
| NPI | Net Profits Interest |
| NPR | Net of Process |
| NRP | Nevada Reclamation Permit |
| PAX | Potassium amyl xanthate |
| POX | Pressure oxidation |
| QA/QC | Quality Assurance and Quality Control |

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|:---|:---|
| RC | Reverse circulation |
| ROD | Record of Decision |
| ROM | run-of-mine |
| ROW | right-of-way |
| SEC | United States Securities and Exchange Commission's |
| SEIS | Supplemental Environmental Impact Statement |
| SGS | SGS Minerals Service Lakefield |
| SK1300 | U.S. Securities and Exchange Commission ruling S-K Subpart 1300 |
| SRK | SRK Consulting (U.S.), Inc. |
| Tcm | The camel conglomerate |
| TMF | Tailings Management Facility |
| TRIFR | Total Reportable Incident Frequency Rate |
| TRS | Technical Report Summary |
| TSG | Tertiary Sulfur Group |
| USFWS | United States Fish and Wildlife Service |
| QPs | Qualified Persons |
| WestLand | WestLand Engineering & Environmental Services, Inc. |
| Vista | Vista Gold Corporation |

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3&nbsp;&nbsp;&nbsp;&nbsp;PROPERTY DESCRIPTION AND LOCATION

3.1&nbsp;&nbsp;&nbsp;&nbsp;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 Mine 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, which was consolidated through multiple transactions over several years as discussed below, consists of 30 private parcels with patented claims that comprise approximately 1,787 acres, and 3,247 unpatented lode and placer mining claims. Some unpatented mining claims overlap other Hycroft patented and unpatented mining claims to ensure there are no fractional claim gaps. The unpatented and patented claims cover a surface are of approximately 62,298 acres. The combined area of patented and unpatented claims is approximately 64,085 acres of land. Existing facilities on site include two administration buildings, a mobile maintenance shop, a light vehicle maintenance shop, a warehouse, three (3) 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 authorizations from the BLM, NDEP, NDOW, NDWR and County agencies. At the date of this report, the Company had approximately 65 employees at the mine.

3.2&nbsp;&nbsp;&nbsp;&nbsp;Property Ownership and Title In Nevada

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

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Figure 3-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mine Property Location Map

![image_4a.jpg](image_4a.jpg)![image_5a.jpg](image_5a.jpg)

Source: Figure adapted from Hycroft, 2022

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3.3&nbsp;&nbsp;&nbsp;&nbsp;Land Status

Hycroft holds 3,277 mining claims (30 unpatented placer claims and 3,247 unpatented lode claims) covering approximately 62,298 acres of land. Some mining claims overlap other Hycroft mining claims to ensure there are no fractional gaps in mining claims coverage. These claims are located in Humboldt County and Pershing County, Nevada as follows:

&nbsp;&nbsp;&nbsp;&nbsp;T36N, R29E, Sections: 28, 32, 33

&nbsp;&nbsp;&nbsp;&nbsp;T36N, R30E, Sections: 19, 28-34

&nbsp;&nbsp;&nbsp;&nbsp;T35 1/2N, R29E, Sections: 25, 26, 35, 36

&nbsp;&nbsp;&nbsp;&nbsp;T35N, R29E, Sections: 1-3, 10-15, 21-28, 31-36

&nbsp;&nbsp;&nbsp;&nbsp;T35N, R30E, Sections: 2-10, 15-23, 25-36

&nbsp;&nbsp;&nbsp;&nbsp;T34N, R28E, Sections: 1, 2, 11, 12, 13

&nbsp;&nbsp;&nbsp;&nbsp;T34N, R29E, Sections: 1-28, 33

&nbsp;&nbsp;&nbsp;&nbsp;T34N, R30E, Sections: 2-11, 17-20, 29, 30

In addition to the unpatented land, the Company owns 30 private parcels (patented mining claims) comprising 1,787 acres. These claims are located in Humboldt County and Pershing County, Nevada as follows:

&nbsp;&nbsp;&nbsp;&nbsp;T35N, R29E, Sections: 24, 25, 35, 36

&nbsp;&nbsp;&nbsp;&nbsp;T35N, R30E, Sections: 19, 30, 31

&nbsp;&nbsp;&nbsp;&nbsp;T34N, R29E, Sections: 1, 2

The combined total of unpatented and patented mining claims cover a surface area of approximately 60,085 acres and are depicted in Figure 3-2. Individual mining claims for each township range and section are presented in Appendix A and B. Ausenco has defined the project centroid in the following mine grid coordinates:

&nbsp;&nbsp;&nbsp;&nbsp;51 500 N

&nbsp;&nbsp;&nbsp;&nbsp;20 500 E

This point is located central to all mine facilities. The project centroid shall be used to reference all other locations within 1 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: has been assembled through a series of transactions:

&nbsp;&nbsp;&nbsp;&nbsp;The Crofoot property and approximately 3,500 acres of claims were acquired by Vista in 1985.

&nbsp;&nbsp;&nbsp;&nbsp;The Crofoot property, originally held under lease, is owned by Hycroft subject to a 4% Net Profits Royalty (NPR) retained by the former owners, capped at total future payments of US$7.6 M, of which US$3.1M has been paid.

&nbsp;&nbsp;&nbsp;&nbsp;The Lewis property and approximately 8,700 acres of claims were acquired by Vista in early 1987.

&nbsp;&nbsp;&nbsp;&nbsp;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.

<br>From 2007 through 2015, the company 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 2022-2023 claim years, with US$593,727 paid for 2022-2023. 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 not later than November 1 of each year. Annual real property taxes for patented claims in Humboldt and Pershing Counties are due August 3115 of the following year.

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Hycroft controls all surface and mineral rights within the Hycroft mineral resource area. No further land acquisition is required for 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.

3.4&nbsp;&nbsp;&nbsp;&nbsp;Property Agreements and Royalties

The original owners of the Crofoot property have a retainer of 4% NP royalty. In 1996, the lease/purchase agreement was amended to provide for minimum advance royalty payments of US$120,000 on January 1 of each year in which mining occurs on patented and unpatented claims. The sum of payments for the Crofoot property is capped at US$7.6M, of which US$3.1M has been paid through December 2022. An additional US$120,000 annually is due if ore production exceeds 5 Mtons from the Crofoot property on either patented or unpatented claims in any calendar year. All advanced royalty payments are taken as a credit against the 4% NP royalty. Table 3-1 shows the royalty amount and other annual land holding costs.

Table 3-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Annual Land Holding Costs

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| | | | |
|:---|:---|:---|:---|
| **Month Due** | **Lessor** | **Type** | **Amount** |
| Jan., Apr., Jul., & Oct. | Crofoot<sup>1</sup> | Advance Royalty | 4% |
| Monthly | Sprott Royalty | Net Smelter Return Royalty | 1.5% NSR |
| August-October | U.S. BLM, Humboldt & Pershing Counties | Claim Fees | US$593,727 |

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<sup>1</sup> The Crofoot royalty is a minimum of $120,000 due in January but is only payable if mining occurs. An additional $120,000 minimum is due if ore production exceeds 5Mtons from the Crofoot property in any calendar year. The Net Profits royalty is capped at $7.6M cumulative of which $3.1M has been paid.

<sup>2</sup> The Sprott royalty is equal to 1.5% of Net Smelter Returns free and clear of withholding taxes or similar taxes.

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![image_58.jpg](image_58.jpg)<br>

![image_40a.jpg](image_40a.jpg)

Figure 3-2:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mine Claims Map

![image_6a.jpg](image_6a.jpg)

Source: Figure prepared by Hycroft, February 2023

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Figure 3-3:&nbsp;&nbsp;&nbsp;&nbsp;Current Property and Facilities Layout (2023)

![image_9a.jpg](image_9a.jpg)

Source: Figure prepared by Hycroft, 2023.

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3.5&nbsp;&nbsp;&nbsp;&nbsp;Water Rights

Hycroft controls a total of 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 per year (6.65 billion gallons per 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.

3.6&nbsp;&nbsp;&nbsp;&nbsp;Liabilities & 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 (i) the Second Amended and Restated Credit Agreement dated as of March 30, 2022 by and between the Company and Sprott Private Resource Lending Corp. and certain of its affiliates; (ii) the Sprott Royalty Agreement dated May 29, 2020 by and between the Company and Sprott Private Resource Lending II (Co) Inc.; (iii) the subordinated debt issued under the Omnibus Amendment to Note Purchase Agreement and Exchange Agreement dated as of May 28, 2020 and amended on March 14, 2022 by and among the Company and the subordinated debt holders; and (iv) royalty payment obligations associated with the Crofoot claims.

3.6.1&nbsp;&nbsp;&nbsp;&nbsp;Environmental Liabilities

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 December 31, 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$0.5M 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 M to US$58.3M. 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 M as detailed in the September 2013 reclamation cost estimate that requested the phasing of the mill expansion activities. Additionally, Hycroft has posted an exploration bond with the BLM in the amount of US$0.4 M. The Company has $33.7M of restricted cash for collateral for the Surface Management Surety Bonds and the exploration bond.

3.6.2&nbsp;&nbsp;&nbsp;&nbsp;Mine Safety Disclosures

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 2022, MSHA issued five (5) citations and zero (0) of those were "Significant and Substantial" Violations under section §104(a) of the Mine Act. Fines totaled less than US$1,000 including citations and orders issued to contractors for the year ending December 31, 2022.

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 the year ended December 31, 2022, the Company implemented multifunctional workplace inspections and monthly employee engagement sessions. As a result, Hycroft operated twelve (12) months with zero (0) reportable workplace injuries and occupational illnesses. The Mine's Total Reportable Injury Frequency Rate (TRIFR) per 200,000 man-hours worked including contractors was 0.0 on December 31, 2022.

3.6.3&nbsp;&nbsp;&nbsp;&nbsp;Operating Permits

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 at the Mine. Table 3-2 summarizes the operating permits while Table 3-3 shows the miscellaneous permits for the property.

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Table 3-2:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Operating Permits

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|:---|:---|:---|:---|
| **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 |
| 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 |

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Table 3-3:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Miscellaneous Permits

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| | | | |
|:---|:---|:---|:---|
| **Operating Permits** | **Issuing Agency** | **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 |

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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 2021 operational conditions.

Table 3-4:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Permits and Annual Fees

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| | |
|:---|:---|
| **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 | $14000 |
| Air Quality Operating Permit AP1041-2964 | $40000 |
| Reclamation Permit | $30000 |
| Nevada Radioactive Material License | $1100 |
| Stormwater Permit | $200 |
| Artificial Pond Permit | $32000 |
| Water Pollution Control Permit NEV94114 | $20000 |
| Water Pollution Control Permit NEV60013 | $20000 |
| State Fire Marshall | $228 |
| Public Drinking Water System | $225 |
| Septic System Permits | $600 |
| Toxic Release Inventory Annual Fee | $5500 |
| Nevada LP-Gas License | $900 |
| **TOTAL** | **$138053** |

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

Hycroft Property Page 20 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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Table 3-5:&nbsp;&nbsp;&nbsp;&nbsp;Right-of-Way Payment and Renewal Schedule

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| | | | |
|:---|:---|:---|:---|
| **ROW Number** | **Annual Payment Amount (estimated)** | **Payment Date** | **Expiration Date** |
| NVN46292 | $125 | 01/01/2023 | 12/31/2048 |
| NVN46564 | $100 | 01/01/2023 | 12/31/2046 |
| NVN46959 | $610 | 01/01/2023 | In Renewal |
| NVN39119 | $427 | 01/01/2023 | In Renewal |
| NVN44999 | $279 | 01/01/2023 | In Renewal |
| NVN54893 | $200 | 01/01/23 | 10/10/2025 |

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3.6.4&nbsp;&nbsp;&nbsp;&nbsp;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.

The Plan of Operations for a rail spur, open pit expansion and processing complex, that included a TMF and expanded Heap Leach Facility, 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 the proposed southeast location of 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 per year to 12 Mtons per year. 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/y. 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 of ore per year. 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 Southeast 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 South Processing Complex. These 2013 major modifications were approved by the NDEP until August 2017.

In September 2014, Hycroft submitted a minor modification to expand the Brimstone-North Heap Leach Facility 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.

Hycroft Property Page 21 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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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, the Stage 1 footprint is approximately 390 acres including the ponds, channels, and roads. Of this area, 234 acres will be geomembrane lined, 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.

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 LOM pit development.

&nbsp;&nbsp;&nbsp;&nbsp;Received Record of Decision from BLM for EIS (10-22-19):

o&nbsp;&nbsp;&nbsp;&nbsp;Current operating plan is fully permitted.

o&nbsp;&nbsp;&nbsp;&nbsp;Existing operating permits will be amended as new facilities/infrastructure are required.

o&nbsp;&nbsp;&nbsp;&nbsp;EIS allow for flexibility:

&nbsp;&nbsp;&nbsp;&nbsp;Expanded pits.

&nbsp;&nbsp;&nbsp;&nbsp;Construction of a tailings management facility to the south of the property, if needed.

&nbsp;&nbsp;&nbsp;&nbsp;Phase 1 of the new leach pad is permitted.

&nbsp;&nbsp;&nbsp;&nbsp;Phase 1A of the new leach pad has completed earthwork and 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 Technical Report Summary will require multiple federal, state, and local permits. The U.S. Fish and Wildlife Service (USFWS)will require modification to the Golden Eagle Take Permit for the NE TMF and extensions of the South (Vortex) Dump.

3.6.5&nbsp;&nbsp;&nbsp;&nbsp;Crofoot Heap Leach Facility Closure

NDEP has asked Hycroft to update the 2017 Final Permanent Closure Plan (FPPC), the updated plan will include schedule of compliance (SOC) items and incorporate current regulations. There are six items in this plan. SOC Items 1 (Stormwater Controls), 4 (Water Quality Evaluation Report) and 6 (Investigation of trend for Wells SP-23, SP-24, and SP-25) have been submitted and are currently under review by NDEP. NDEP has accepted and approved SOC Items 2 (Heap Leach Drain Down Channel) and 3 (Update Monitoring Plan). SRK is preparing SOC Item 5 (updating FPPC) which will be delivered by June 1st, 2023.

Construction of a drain-down collection system was completed in 2012. Hycroft will continue to re-grade the pad, apply medium, and reseed the pad to complete the process. The Company is working in conjunction with NDEP, who will issue the final closure approval letter once these activities are reviewed and accepted.

3.7&nbsp;&nbsp;&nbsp;&nbsp;Environmental Considerations

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 USFWS on the management of this species.

3.8&nbsp;&nbsp;&nbsp;&nbsp;Social License Considerations

Social and community impacts have been considered and evaluated in the 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 have an effect on cultural sites, resources, and traditional activities. Potential community impacts to 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.

Hycroft Property Page 22 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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3.9&nbsp;&nbsp;&nbsp;&nbsp;Significant Risks

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

Hycroft Property Page 23 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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4&nbsp;&nbsp;&nbsp;&nbsp;ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

4.1&nbsp;&nbsp;&nbsp;&nbsp;Access

The Mine 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 a majority 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 room, boarding and dining facilities.

4.2&nbsp;&nbsp;&nbsp;&nbsp;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 an occasional dust or sandstorm, particularly in the spring.

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

4.2.1&nbsp;&nbsp;&nbsp;&nbsp;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.

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).

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 of the 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 all of its planned facilities and process water demands.

Hycroft Property Page 24 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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Table 4-1:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Water Wells and Permitted Yearly Consumption

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|:---|:---|:---|:---|
| **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** |  |

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A fully developed project will include plans to develop access and haul roads to new processing facilities, a tailings management facility, 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 is needed to be conducted to upgrade the existing power at the site in the event that a fully developed processing plant is proposed.

4.3&nbsp;&nbsp;&nbsp;&nbsp;Physiography

The mine 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 950 feet. The elevation ranges from 4,100 feet on the western side to 6,000 feet on the eastern side. The climate at Hycroft Mine area is semi-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<sup>o</sup> to 95<sup>o</sup> F. Daily temperature ranges are extreme, usually 30<sup>o</sup> to 35<sup>o</sup> 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 grasses. Scattered pinon and juniper trees occur along slopes in the higher parts of the property.

4.4&nbsp;&nbsp;&nbsp;&nbsp;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 USGS national probabilistic seismic hazard model to deterministic and probabilistic floating earthquake PGAs show reasonable agreement. MWWAI recommends the use of the deterministic and probabilistic PGAs presented in the DSHA.

Hycroft Property Page 25 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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5&nbsp;&nbsp;&nbsp;&nbsp;HISTORY

5.1&nbsp;&nbsp;&nbsp;&nbsp;Regional Mining 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, three 6- to 8-foot-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&nbsp;&nbsp;&nbsp;&nbsp;Exploration History on the Property

In 1966, the Great American Minerals Company began extensive exploration for native sulfur in the 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 Hycroft 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 Hycroft property, recognizing the potential for a bulk tonnage, 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 Au/Ag mineral deposit, they forfeited the property in 1982. The following mineralization zones shown in Figure 5-1 have been characterized at the Mine.

Hycroft Property Page 26 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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Figure 5-1:&nbsp;&nbsp;&nbsp;&nbsp;Predominant Mineralization Zones Identified for the Mine.

![image_10a.jpg](image_10a.jpg)

Source: Figure prepared by Hycroft Mining, 2022.

Hycroft Property Page 27 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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5.3&nbsp;&nbsp;&nbsp;&nbsp;Mine Production on the Property

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 Cut-4 pits along the Central Zone and Brimstone) and produced approximately 1.2 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 was 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.

In May 2007, Vista's Nevada-based holdings were spun out into Allied Nevada Gold Corp. The Hycroft Mine was included as part of the transfer of ownership allowing Allied Nevada to explore, expand, and further develop the resources at the Mine. 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. Permitting to construct a new refinery was received and completed at the Brimstone plant site by 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 gallon per minute 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 had increased to over 20 million square ft including the Brimstone and Lewis leach pads. Active mining ceased again in June 2015 due to low metal prices yet leaching of the mined ore continued through 2018.

On October 22, 2015, Allied Nevada emerged from its financial restructuring and changed its name to Hycroft Mining Corporation.

In late 2018, Hycroft began construction of Phase 1 of the North Leach Pad to expand process capacity for anticipated oxide material. Additionally, Hycroft began preparing the mine for a restart. Active mining began again in April 2019 and from this date 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 testwork and exploration. Final construction of Phase 1 of the North 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.

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 (AuFA) averaging 0.014 oz/ton was 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 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 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 Hycroft Mine was included as part of the transfer of ownership allowing Allied Nevada to explore, expand, and develop the resources at Hycroft.

The Hycroft Mine was reactivated in September 2007 and produced its first doré in December 2008 reaching planned ore production by the end of 2009.

In 2010, the mine began an expansion program that included construction of the North Merrill-Crowe facility, a 21,000 gallon per minute Merrill-Crowe processing plant, and a three-stage crushing facility as well as upgrading their solution pumping capacity. In 2013, Hycroft initiated the construction/expansion of the North leach pad bringing the total leach pad footprint for the Brimstone, Lewis, and North leach pads to more than 20 million square ft.

Hycroft Property Page 28 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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After commissioning the crushing facility in 2014, ROM ore was crushed prior to placement on the heap. 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. 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. The crushing facility was also utilized for production in 2019-2020. Only oxide ore was placed on the new leach pads during this time with production of Au and Ag continuing through until 2021.

From September 2007 through July 2019 metal sales have totaled approximately 900,000 oz of Au and 5.0M oz of Ag. Active mining ceased in 2015 and production at the Mine was terminated on November 11, 2021. Table 5-1 lists the annual sales in ounces of Au and Ag produced from the Mine's heap leach operations over years 2019 through 2022. Annual sales in ounces of Au and Ag produced from the Mine's heap leach operations over years 2019 through 2022 total approximately 105,000 ounces of Au and 615,000 ounces of Ag.

Table 5-1:&nbsp;&nbsp;&nbsp;&nbsp;Au and Ag Sales from 2019 to 2022

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| **Year** | **Annual Au Sales<br>(oz)** | **Annual Ag Sales<br>(oz)** |
| 2019 | 8,373 | 50,186 |
| 2020 | 24,720 | 135,293 |
| 2021 | 54,968 | 385,754 |
| 2022 | 17,510 | 43,839 |
| **TOTALS** | **105,571** | **615,072** |

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Hycroft Property Page 29 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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6&nbsp;&nbsp;&nbsp;&nbsp;GEOLOGICAL SETTING, MINERALIZATION, AND DEPOSIT

6.1&nbsp;&nbsp;&nbsp;&nbsp;Geological Setting

The Hycroft deposit is a low-sulfidation, epithermal, hot springs system that contains Au and Ag mineralization. Radiometric dates of adularia (potassium feldspar) indicate that the main phase of Au and Ag mineralization formed four million years ago (Ebert, 1996) 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 0.4 to 2.0 million years ago 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&nbsp;&nbsp;&nbsp;&nbsp;Regional Geology

The Hycroft 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&nbsp;&nbsp;&nbsp;&nbsp;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.

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 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. The volcanic package is comprised of siliceous to intermediate tuffs, coarse grained volcanic clastics, fanglomerates, eruption breccias and massive to flow banded rhyolites.

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. The camel conglomerate (Tcm) of the Tertiary Sulfur Group (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.

Hycroft Property Page 30 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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Figure 6-1:&nbsp;&nbsp;&nbsp;&nbsp;Stratigraphic Column for Hycroft Deposit Area

![image_11a.jpg](image_11a.jpg)

Source: Figure prepared by SRK, 2019.

Seven major north-northeast trending, west dipping, normal fault zones appear to broadly control the distribution of Au and Ag mineralization as shown in Figure 6-2. From west to east, these fault zones are referred to as the Range, West Splay, Central, Break, Albert, Fire, and East faults. These major structures down-drop stratigraphy and also 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 1 to 2 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. Going from north to south, these faults include Cliff, Ramp, Prill, Camel and Hades Faults. Figure 6-2 is a north looking section through the Hycroft Mine showing structures, volcanic rock stratigraphy, and Au/Ag mineralization. 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 varies considerably throughout the area. Alteration at the deposit is dominated by acid leaching, silicification, argilization, and propylitization.

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Figure 6-2:&nbsp;&nbsp;&nbsp;&nbsp;Simplified East–West Cross-Sections through the Sulphur District

![image_12a.jpg](image_12a.jpg)

Source: Figure prepared by Allied Nevada, 2011.

6.2&nbsp;&nbsp;&nbsp;&nbsp;Mineralization

The Hycroft deposit is broken into six major zones based on geology, mineralization, and alteration. These include Brimstone, Vortex, Central, Bay, Boneyard, and Camel Hill. The boundaries are typically major faults, namely Break, East, and Ramp.

6.2.1&nbsp;&nbsp;&nbsp;&nbsp;Brimstone

The stratigraphy at Brimstone includes up to 100 ft of alluvium, underlain by Camel Conglomerate rocks (0 ft to 400 ft), and Kamma volcanic rocks, as shown in Figure 6-3. ALS has been drilled at depth and is in fault contact (East Fault) with the overlying Kamma Volcanics. The Brimstone ore 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. Kamma Volcanics are strongly altered in the hanging wall of the East Fault, whereas the same units are weakly altered to the east in the footwall of the fault.

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. Only minor mineralization is noted footwall to the fault zone.

North of the Brimstone deposit, the east–west trending Ramp and Prill Faults appear 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.

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 as seen in Figure 6-3, 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

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the base of the acid leached 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 limited thickness, oriented parallel to the East Fault, are present in the footwall zone. Alteration extends for 50 ft to 70 ft footwall to the fault, with pervasive silicification and quartz veining dominant.

Figure 6-3:&nbsp;&nbsp;&nbsp;&nbsp;Brimstone Generalized Geology Cross-Section

![image_13a.jpg](image_13a.jpg)

Source: Figure prepared by Allied Nevada, 2011.

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 has shown that mineralization extends to a depth of over 1,200 ft in the Brimstone Zone. Mineralization thickness (true width) is 200–1,100 ft thick and remains open to the west toward the Break Fault and transitions into Vortex to the south.

6.2.2&nbsp;&nbsp;&nbsp;&nbsp;Vortex

The stratigraphy 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, footwall to the East Fault, and appears to be in stratigraphic contact with the Kamma Volcanics, as seen in Figure 6-4.

The upper elevation at Vortex is hydrothermally clay (kaolinite) altered. Acid leaching is less prominent in Brimstone and is focused primarily along the East Fault. Strong silicification to depths greater than 1,500 ft is due to veining and phreatic hydrothermal brecciation. At least four mineralizing events are present as evidenced by crosscutting vein and breccia relationships. The hydrothermal venting may have contributed to the eruption breccias overlying the Brimstone Zone. Propylitic and/or clay alteration extends outboard of the silicification.

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The mineralization at Vortex is of both vein and disseminated type, 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 pyrargyrite, naumannite and miargyrite, occurring both in veins, disseminated and coarse grains along fractures.

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.

6.2.3&nbsp;&nbsp;&nbsp;&nbsp;Bay and Boneyard

Mineralization in the Bay and Boneyard zones 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 as shown in Figure 6-5. 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. 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 20–250 ft thick at Bay and 50–300 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.

Figure 6-4:&nbsp;&nbsp;&nbsp;&nbsp;Vortex to Camel Hill Generalized Section

![image_14a.jpg](image_14a.jpg)

Source: Figure prepared by Allied Nevada, 2011.

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6.2.4&nbsp;&nbsp;&nbsp;&nbsp;Central

The Central Zone 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 as seen in Figure 6-5. 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 Cut-4.

The Central Zone is bounded to the east by the Central and Break Faults. 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 similar to that of Bay. Acid leach alteration is stronger and more widespread than at Bay and is extensive in the southern portion of the pit. The acid leaching overlies silicified conglomerate rocks, except along the immediate trace of the Central Fault where silicification dominates as the alteration type. 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.

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 50 300 ft thick, while the lower zone ranges from 300–1,200 ft thick and remains open at depth. The zone mineralization is contiguous to the Vortex and Brimstone Zones to the east, and the Camel Hill/Cut-5 zones to the south.

Figure 6-5:&nbsp;&nbsp;&nbsp;&nbsp;Bay Geologic Cross-Section

![image_15a.jpg](image_15a.jpg)

Source: Figure prepared by Allied Nevada, 2011.

6.2.5&nbsp;&nbsp;&nbsp;&nbsp;Camel Hill and Cut 5 Zones

Camel 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.

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Alteration south of the Central Pit and in the Camel Zone 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 and Cut-4 Zones area immediately to the northeast.

Mineralization in the Camel/Cut-5 Zones 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 Cut-5 and Camel Zones. Mineralization remains open to the south, west and at depth. To the north, Camel mineralization is contiguous with the lower zone of the Central Zone, while Cut-5 is contiguous with the upper zone. Mineralization is also open to the west of Camel and to the south towards Hades Fault.

6.3&nbsp;&nbsp;&nbsp;&nbsp;Alteration

Detailed geologic work by previous owners at Hycroft identified a number of hydrothermal alteration events. However, for resource estimation purposes, there are four alteration types that have been interpreted and assigned to the block model.

&nbsp;&nbsp;&nbsp;&nbsp;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.

&nbsp;&nbsp;&nbsp;&nbsp;Propylitic – Propylitic altered material is generally found in the volcanic rocks of the Kamma Mountains. Although it is occasional interpreted within the mineralized zone of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;Argillic – A pervasive alteration of both the Camel Conglomerates and the Kamma Volcanics. Where clay minerals have replaced the original potassium feldspars and other minerals.

&nbsp;&nbsp;&nbsp;&nbsp;Silicic – Silica flooding which is associated with the mineralization processes at Hycroft.

Acid leach will not be sent to the process facility or to the leach pad due to the high levels of sulfides and native sulfur. It has been estimated but the minor remaining tonnage is not included in the mineral resource.

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

Silicic alteration is generally 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 Au and Ag rich concentrate.

Figure 6-6 is a generalized east–west section illustrating the alteration at Hycroft.

6.4&nbsp;&nbsp;&nbsp;&nbsp;Deposit Types

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

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Figure 6-6:&nbsp;&nbsp;&nbsp;&nbsp;Generalized Hycroft Epithermal Diagram

![image_16a.jpg](image_16a.jpg)

Source: Figure prepared by Allied Nevada, 2011.

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7&nbsp;&nbsp;&nbsp;&nbsp;EXPLORATION

7.1&nbsp;&nbsp;&nbsp;&nbsp;Drilling

The Hycroft drill history covers the period of from 1981 to 2022 and includes 5,601 holes, representing 2,588,826 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 5,323 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 resource modeling.

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.

From 1981 to 1982, Homestake, 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 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 has been 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 has completed 1,970 exploration holes, totaling approximately 1.45 M ft.

A combination of rotary, RC and core drilling techniques has been utilized to verify the nature and extent of mineralization. The majority of samples have been collected using RC drilling methods on 5-foot 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, a RC drilling program was completed in 2014, and a metallurgical core program with the six drillholes was completed in 2017. The metallurgical drillholes were not included in the database for mineral resource estimation and are not shown on the drill hole location map. 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 2022, Hycroft has drilled 171 holes, 100 in 2021 and 71 in 2022. Most of the 2021 drilling was diamond core that was used for metallurgical testing and assay. The 2022 drilling was predominantly RC to evaluate extensions of mineralization. Figure 7-1 illustrates the 2021 and 2022 drilling with "box" symbols to distinguish it from the rest of the drilling.

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Figure 7-1:&nbsp;&nbsp;&nbsp;&nbsp;Drillhole Collar Locations

![image_17a.jpg](image_17a.jpg)

Source: Figure prepared by IMC, 2023.

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7.2&nbsp;&nbsp;&nbsp;&nbsp;Additional Exploration

In addition to drilling activity, Hycroft has also conducted geophysical surveys, soil and rock chip sampling programs, field mapping, historical data compilation, and regional reconnaissance at the Mine site. These efforts are designed to improve the understanding of the known mineralization, as well as provide data for further exploration of the greater property position.

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, 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.

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.

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 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.

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 was collected with the intent of helping identify key minerals on the surface to focus reconnaissance mapping and soils programs.

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8&nbsp;&nbsp;&nbsp;&nbsp;SAMPLE PREPARATION, ANALYSES, AND SECURITY

8.1&nbsp;&nbsp;&nbsp;&nbsp;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 2022. Hycroft provided IMC with the database which contained assay information for drilling from 1982 through 2022. IMC is the qualified organization for the section.

Most of the current staff at Hycroft have been at site less than 3 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 prepared by M3 and SRK in July of 2019 titled "Technical Report Summary, Heap Leaching Feasibility Study, Winnemucca, Nevada, USA", July 31, 2019. IMC has confirmed that information as much as possible with the data provided.

Discussion of Quality Control and Quality Assurance (QAQC) regarding the database is presented in Section 9.

8.2&nbsp;&nbsp;&nbsp;&nbsp;Sample Preparation

Sample preparation procedure prior to 1999 was not documented. Starting in 2005, preparation procedures were well documented 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. Reverse circulation 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 2.2 lb (1 kg) split is taken and pulverized to 85% passing 200 mesh prior to assay analysis.

8.3&nbsp;&nbsp;&nbsp;&nbsp;Assay Methods

Prior to 1992, most samples were sent to Barringer Laboratories, Inc., in Golden, Colorado. Fire assays 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 fire Au followed by cyanide soluble Au and cyanide soluble Ag on all intervals. Hycroft 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 for the time period 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 that were assayed by the Hycroft lab. Those holes have reportedly been compared with assays from commercial labs and are still maintained in the database.

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:

&nbsp;&nbsp;&nbsp;&nbsp;ALS Minerals&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISO9001:2000 and ISO17025

&nbsp;&nbsp;&nbsp;&nbsp;American Assay Laboratories&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISO/IEC17025, PTP-MAL Canada

&nbsp;&nbsp;&nbsp;&nbsp;Inspectorate&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISO9001:2008

&nbsp;&nbsp;&nbsp;&nbsp;McClelland&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISO/IEC17025

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

&nbsp;&nbsp;&nbsp;&nbsp;Bureau Veritas Mineral Laboratories USA&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISO-9001 ISO-14001 ISO-45001 OHSAS-18001

&nbsp;&nbsp;&nbsp;&nbsp;Paragon Geochemical&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISO/IEC 17025:2017

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

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

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

Cyanide soluble assays for Au and Ag 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 35 element Inductively Coupled Plasma (ICP) analysis to roughly 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 on 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.

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 at least 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.

8.4&nbsp;&nbsp;&nbsp;&nbsp;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.

8.5&nbsp;&nbsp;&nbsp;&nbsp;Analytical Results

Following analysis, results are posted to a digital laboratory database for which Hycroft has secure permission privileges. Managers download the data where the sample results are cross-referenced to sample numbers. Each drillhole carries a unique self-identifying sample number, simplifying the 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.

8.6&nbsp;&nbsp;&nbsp;&nbsp;QP Comment

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

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9&nbsp;&nbsp;&nbsp;&nbsp;DATA VERIFICATION

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. A number of tasks have been completed to verify the data since the completion of the previous Technical Report Summary (Feb 2022).

The Hycroft and IMC teams have put significant effort towards the verification of the database during 2022, including:

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

2)&nbsp;&nbsp;&nbsp;&nbsp;Analysis of the QAQC data used by Hycroft and previous owners from 2005 to 2022. This work was done in two stages representing different time periods.

3)&nbsp;&nbsp;&nbsp;&nbsp;Analysis of Diamond drilling (DDH) versus Reverse Circulation Drilling (RC) with the post-2005 drilling to confirm that the two methods can be comingled and utilized for the estimation of mineral resources.

4)&nbsp;&nbsp;&nbsp;&nbsp;Comparison of Pre-2005 drilling versus Post-2005 drilling to verify the application of the older data because the Pre-2005 data QAQC information was not available.

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 post-2005 data was established as reliable, it was used to check the pre-2000 drilling by a nearest neighbor sample comparison. The updated statement of mineral resources reflects information developed in 2022, as presented in Sections 1 and 2.

9.1&nbsp;&nbsp;&nbsp;&nbsp;Certificate of Assay Checks

The team at the Hycroft mine site completed an extensive check and verification of the database 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.

The Hycroft certificate of assay checks confirmed the following two major points.

1)&nbsp;&nbsp;&nbsp;&nbsp;The historic Hycroft code of -8 in the database correlated to the existence of "trace" assays within the certificates. With this knowledge, the resource model database was edited so that ½ trace values were entered into the intervals previously coded as -8.

2)&nbsp;&nbsp;&nbsp;&nbsp;The gold assay data used in the estimate of measured and indicated has not been factored. With respect to the inferred mineral resource, the 1982 to 1987 gold assay data was factored down to adjust for bias. No other adjustments have been made to the database.

9.2&nbsp;&nbsp;&nbsp;&nbsp;QA/QC Post-2005 – 2022

The 2005 to 2022 drilling data has had the following QAQC information collected.

&nbsp;&nbsp;&nbsp;&nbsp;Standards

&nbsp;&nbsp;&nbsp;&nbsp;Blanks

&nbsp;&nbsp;&nbsp;&nbsp;Duplicate Assays, and

&nbsp;&nbsp;&nbsp;&nbsp;Check Assays from 2011 through 2013.

That information will be analyzed in two parts to understand the relative reliability of the post-2005 drilling. The data collected from 2005 to 2014 and the recent data collected from 2021 through 2022.

9.2.1&nbsp;&nbsp;&nbsp;&nbsp;Standards 2021 - 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 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

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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 a consistent bias. The points that are scattered off access likely reflect swapped samples meaning that the wrong standard was recorded or submitted to the lab compared to the tabular results. There are roughly 22 apparent sample swaps out of a total of 7,154 tested standards or about 0.3% of the original samples.

Figure 9-2 summarizes the results of the total Ag standards submissions. There is substantially more variation in the Ag 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 results 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.

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Figure 9-1:&nbsp;&nbsp;&nbsp;&nbsp;Results of Submitted Gold Standards 2005 - 2013

![image_18a.jpg](image_18a.jpg)

Source: Figure prepared by IMC, 2023.

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Figure 9-2:&nbsp;&nbsp;&nbsp;&nbsp;Results of Submitted Silver Standards 2005 - 2013

![image_19a.jpg](image_19a.jpg)

Source: Figure prepared by IMC, 2023.

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9.2.2&nbsp;&nbsp;&nbsp;&nbsp;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 small percentages, there is room for improvement.

One expects that some of the samples were not blanks but were mistakenly inserted standards. The average of the values that are 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:&nbsp;&nbsp;&nbsp;&nbsp;Results of Blank Submissions

![image_20a.jpg](image_20a.jpg)

Source: Figure prepared by IMC, 2021.

9.2.3&nbsp;&nbsp;&nbsp;&nbsp;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 through 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.

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Figure 9-4:&nbsp;&nbsp;&nbsp;&nbsp;Check Assay Results, Fire Assay Gold 2011 - 2012

![image_21a.jpg](image_21a.jpg)

Source: Figure prepared by IMC, 2021.

Figure 9-5:&nbsp;&nbsp;&nbsp;&nbsp;Check Assay Results, Fire Assay Silver 2011 – 2011

![image_22a.jpg](image_22a.jpg)

Source: Figure prepared by IMC, 2021.

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9.2.4&nbsp;&nbsp;&nbsp;&nbsp;Standards 2021 – 2022

All recent drilling completed by Hycroft utilizes standards, blanks, and duplicate assays for QAQC 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 QAQC show both laboratories combined as a summary of the overall results. The majority of the silver QAQC was applied to cyanide silver assays. Since those are not used in this estimate, the gold QAQC information is shown.

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:&nbsp;&nbsp;&nbsp;&nbsp;Standards Results, 2021 – 2022

![image_23a.jpg](image_23a.jpg)

Source: Figure prepared by IMC, 2023

9.2.5&nbsp;&nbsp;&nbsp;&nbsp;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 1 value reported with a potentially economic gold grade out of 495 blank submissions.

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Figure 9-7:&nbsp;&nbsp;&nbsp;&nbsp;Blank Results, 2021 – 2022

![image_24a.jpg](image_24a.jpg)

Source: Figure by IMC, 2022

9.2.6&nbsp;&nbsp;&nbsp;&nbsp;Duplicate Assays, 2021 - 2022

Duplicate pulps were er-assayed to confirm the repeatability of results from the assay lab. During 2021-2022, 314 duplicates were re-assayed. Figure 9-7 summarizes the results of the duplicate checks. There are two results that are higher than expected. Those reflect an error rate for or out-of-bounds results of about 0.64%.

Figure 9-7:&nbsp;&nbsp;&nbsp;&nbsp;Duplicate Assay Results, 2021 – 2022

![image_25a.jpg](image_25a.jpg)

Source: Figure by IMC 2023

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9.2.7&nbsp;&nbsp;&nbsp;&nbsp;DDH vs RC for Post-2000 Samples

The drillhole database at Hycroft is predominately based on RC drilling with some diamond core drilling (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. 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.

Table 9-1:&nbsp;&nbsp;&nbsp;&nbsp;Nearest Neighbor Sample Comparison of RC Gold Composites versus DDH Gold Composites

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|:---|:---|:---|:---|:---|:---|
| **Maximum Separation Distance ft** | **Number of Sample<br>Pairs** | **RC Mean<br>oz/ton** | **DDH Mean<br>Oz/ton** | **Ratio of the<br>Means** | **T-Statistic** |
| 10 | 171 | 0.006 | 0.007 | 1.17 | 0.865 |
| 20 | 388 | 0.006 | 0.006 | 1.00 | 0.585 |
| 30 | 616 | 0.006 | 0.007 | 1.17 | 0.529 |
| 40 | 794 | 0.006 | 0.007 | 1.17 | 1.225 |
| 50 | 1017 | 0.006 | 0.007 | 1.17 | 1.435 |

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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-2005 drilling and that they can be combined for estimation of mineral resources.

9.2.8&nbsp;&nbsp;&nbsp;&nbsp;Old vs. New Drilling

Previous Technical Reports regarding the 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 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 post-2005 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 post-2005 drilling assay data. The post-2005 data has been illustrated to be reliable based on the QAQC 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 post-2005. That was followed by analysis of 1998 versus post-2005. 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 post-2005 data. However, once 1987 and earlier years were compared against the post-2005 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 post-2005 data on a nearest sample basis. These results were completed for sample distances as close as 5ft for assay data.

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Table 9-2:&nbsp;&nbsp;&nbsp;&nbsp;Nearest Neighbor Sample Comparison of 1982-1987 Gold Assays versus Post-2005 Gold Assays

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| **Maximum Separation Distance ft** | **Number of Sample<br>Pairs** | **1982-1987 Mean<br>oz/ton** | **Post-2005 Mean<br>Oz/ton** | **Ratio of the<br>Means** | **T-Statistic** |
| 5 | 103 | 0.022 | 0.013 | 1.69 | 3.82 |
| 10 | 237 | 0.025 | 0.018 | 1.39 | 3.51 |
| 20 | 630 | 0.020 | 0.012 | 1.67 | 7.99 |
| 30 | 1313 | 0.018 | 0.010 | 1.80 | 10.46 |
| 40 | 2027 | 0.018 | 0.010 | 1.80 | 14.26 |

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T-Statistic 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 1.39 and 1.80 times higher than the post-2005 gold assays. The T-Statistic reported on the right side of the table is comfortably above the value of 2.0 for all of 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 high biased and unreliable relative to the more modern post-2005 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.

Roughly half of the 1982 to 1987 database been mined out. Historic information indicates that production reconciliation was difficult during that period. However, the1982-1987 data does indicate the presence of mineralization. In order to capture that mineralization in the potential resource, IMC has completed the following steps.

1)&nbsp;&nbsp;&nbsp;&nbsp;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 time period.

2)&nbsp;&nbsp;&nbsp;&nbsp;The block gold grades without 1982-1987 data were frozen so that they could not be changed.

3)&nbsp;&nbsp;&nbsp;&nbsp;The block grade estimation for gold was repeated including the bias corrected 1982-1987 data.

4)&nbsp;&nbsp;&nbsp;&nbsp;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)&nbsp;&nbsp;&nbsp;&nbsp;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".

9.2.9&nbsp;&nbsp;&nbsp;&nbsp;Downhole Surveys

The Hycroft 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 down hole survey bearings against the original down hole survey logs. The data is stored in both state plane, 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 Hycroft mine grid, consistent with the resource model and historical and potentially future mine planning.

9.3&nbsp;&nbsp;&nbsp;&nbsp;QP Comment

The work outlined in this section is a summary of nearly 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

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outlined is conservative and appropriate for the estimation of mineral resources. The 1982-1987 data has been incorporated so that it only contributes to inferred category mineral resource after correction of the high bias of that data.

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10&nbsp;&nbsp;&nbsp;&nbsp;MINERAL PROCESSING AND METALLURGICAL TESTING

Hycroft has been operating the Mine as an open pit mine and run-of-mine (ROM) heap leach facility for their oxide ores to produce gold and silver since 2008. Prior to that, Vista Gold operated the Mine in a similar manner. 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 not the focus of this report. The following subsections focus on testwork done by Hycroft on extraction of Au and Ag from their refractory sulfide mineralization.

The metallurgical test programs conducted on the Hycroft sulfide mineral deposits over the years has 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. The bulk of the flotation tests were conducted at G&T Metallurgical Services (G&T) and SGS Canada Mineral Lakefield (SGS), both located in Canada, and by Hazen Research Inc (Hazen). located 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, and Hazen and KCA do not have accreditation. All laboratories are independent of Hycroft.

In general, core samples for metallurgical testing were selected to represent the mineralized materials, taking samples from five mineralization domains, as they were classified at the time. The main sources were Central, Brimstone and Vortex domains.

10.1&nbsp;&nbsp;&nbsp;&nbsp;Mineralized Materials and Sampling

Hycroft mineralized materials are classified as "oxide," "transition," or "sulfide," depending on the solubility of its gold content in cyanide solution (refractoriness). Materials having cyanide soluble gold contents of 70% or higher are classified as oxide. Those with cyanide soluble gold contents below 30% are considered sulfide. The remainder, with cyanide soluble contents between 30 to 70% are considered transition. The classification has been shown to have no strong correlation with sulfide sulfur content.

10.1.1&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineralization Domains

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

Table 10-1 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 originating from the Brimstone, Central, and Vortex domains. It shows that the classification of the ores as oxide, transition, or sulfide is essentially a measure of refractoriness and has little correlation with the sulfide-sulfur content of the minerals. Sulfide-sulfur: total sulfur ratio averages slightly over 80% for the entire dataset. This indicates that degree of oxidation of sulfur is the same among oxides, sulfides, and transition.

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Table 10-1:&nbsp;&nbsp;&nbsp;&nbsp;Average Sulfur Contents of Oxide, Transition and Sulfide Mineralized Materials

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| **Total S (ST), %** | **Oxide** | **Trans** | **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**<sup>=</sup>**), %** | **Oxide** | **Trans** | **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**<sup>=</sup>**:ST Ratio** | **Oxide** | **Trans** | **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 |

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10.1.2&nbsp;&nbsp;&nbsp;&nbsp;Samples for Metallurgical Testing

Table 10-2 below lists the number of samples selected to span the three main domains and distributed in the mineral deposit.

Individual core samples selected for testing may be found in copies of the test reports analyzed for this study.

Table 10-2:&nbsp;&nbsp;&nbsp;&nbsp;Summary of Test Samples

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| **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 |

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10.2&nbsp;&nbsp;&nbsp;&nbsp;Comminution Tests

The Hycroft mineral deposit has been thoroughly characterized for its comminution properties in the previous studies. The comminution tests were conducted at laboratories of SGS, G&T, Hazen, and Phillips. These include crushing and grinding work indices, JKSimMet parameters A, b and ta, and abrasion indices.

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A summary of the 80<sup>th</sup> percentile comminution test results is in Table 10-3 below. For the Axb parameter, because hardness competence increases as Axb decreases, the 80<sup>th</sup> percentile in hardness competence corresponds to the 20<sup>th</sup> percentile of Axb.

Table 10-3:&nbsp;&nbsp;&nbsp;&nbsp;Grindability Test Summary

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|:---|:---|:---|
| 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 |

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10.3&nbsp;&nbsp;&nbsp;&nbsp;Flotation

10.3.1&nbsp;&nbsp;&nbsp;&nbsp;Review of Flotation Testwork

Refractory gold, in Hycroft's sulfide mineralized materials, is believed to be associated in iron sulfides, primarily pyrite and marcasite. The goals of these tests are to determine the floatability of the sulfides, and the recovery of Au and Ag in the sulfide concentrate. The ability to recover Au and Ag in the sulfide concentrate reduces the volume of material to be treated.

Initial flotation testwork was performed by SGS in March of 2009 and continued at several laboratories until April of 2014. During this time frame, the testing program began with bench-scale tests and moved into pilot plant scale flotation tests at G&T and Hazen.

10.3.1.1&nbsp;&nbsp;&nbsp;&nbsp;SGS Minerals Services (Lakefield) – March 2009

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

The initial flotation test series consisted of three bench-scale rougher kinetics tests to evaluate the effect of primary grind size on flotation response. A standard set of bulk sulfide collectors consisting of xanthate (PAX) and dithiophosphate (Cytec AF 208) was applied along with Dowfroth 250 frother. An additional five bench-scale tests were run to investigate other reagent schemes and grind sizes.

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

&nbsp;&nbsp;&nbsp;&nbsp;Two-stage cleaner flotation applying the flowsheet developed in phase 1 testing (program 12012-001),

&nbsp;&nbsp;&nbsp;&nbsp;Cyanide leaching of the 2<sup>nd</sup> cleaner flotation concentrate, and

&nbsp;&nbsp;&nbsp;&nbsp;Cyanide leaching of the recombined rougher and 1<sup>st</sup> cleaner scavenger tailing.

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".

10.3.1.2&nbsp;&nbsp;&nbsp;&nbsp;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 Hycroft mine sulfide resource. Several rock types were represented in the composites. The testwork examined the metallurgical variability of the samples in response to the flotation (and cyanidation) flowsheet previously developed for the Master Composite in 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 2<sup>nd</sup> cleaner concentrate was cyanide leached. After reviewing the data from those tests, cyanide leaching was refocused on the rougher and 1<sup>st</sup> cleaner scavenger tailing.

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From these tests, recovery of Au in rougher flotation ranged from ~62% in ~15% mass in (Test F-2, P80 of ~103 μm) to ~69% in ~17% mass (Test F-1, P80 of ~128 μm). At the same mass pulls, Ag 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 Au % at a mass pull of 14.6%.

10.3.1.3&nbsp;&nbsp;&nbsp;&nbsp;KCA Batch Tests – Jan 2011

In December 2010, the laboratory facility of KCA in Reno, Nevada received material from the Hycroft project. Portions of the received material were combined as directed to generate six (6) composite samples for testing. Initial testwork was conducted by KCA and reported (PAX, pH, and Grind Flotation Kinetics Study, January 2011). Additional flotation tests were conducted with leach tests on the products.

10.3.1.4&nbsp;&nbsp;&nbsp;&nbsp;KCA Locked Cycle Tests – May 2011

Portions of the six (6) composites were combined to generate two (2) master composites, a Sulfide Master Composite, and a Mixed Master Composite. Additional flotation tests with leach tests on the tails were conducted using material from these composites.

10.3.1.5&nbsp;&nbsp;&nbsp;&nbsp;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 core with a total estimated weight of about 2.9 tons. These samples were used to construct the thirty-nine composites that were used for flotation and cyanidation tests.

On the first set of twenty-four composites, a single batch cleaner flotation test was completed. On the second set of samples, M1 to M17, a much simpler flowsheet was applied, simplifying the reagent scheme to PAX and MIBC. The flotation froths obtained were more stable and more characteristic of a standard sulfide froth compared to the original flowsheet. The samples responded relatively well to flotation. For all thirty-nine samples, the flotation recoveries, on average, measured about 78 percent for Au and 67 percent for Ag to the rougher concentrate.

On average, the rougher recoveries using this revised flowsheet on M1 to M17 measured 78 percent for Au and 83 percent for Ag. These metal recoveries tended to track sulfide sulfur recovery to the rougher concentrate. Table 10-4 and Table 10-5 show the results of this testwork.

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Table 10-4:&nbsp;&nbsp;&nbsp;&nbsp;G&T Composites 1 through 24 Flotation Test Results

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **S(t)<br>(%)** | **S(s)<br>(%)** | **Au (oz/ton)** | **Ag (oz/ton)** | **Rougher Conc Weight 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 |
| 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 | 94.0 | 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 |  |

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Table 10-5:&nbsp;&nbsp;&nbsp;&nbsp;G&T Composites M-1 through M-17 Flotation Test Results

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **S(t)<br>(%)** | **S(s)<br>(%)** | **Au (oz/ton)** | **Ag (oz/ton)** | **Rougher Conc Weight 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 | 96.0 | 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 | 13.0 | 85.7 | 86.8 | Sulfide |
| G&T Composite M-14 | 5.53 | 2.32 | 0.020 | 0.288 | 16.0 | 88.2 | 84.1 | Transition |
| G&T Composite M-15 | 2.32 | 1.15 | 0.024 | 1.584 | 7.0 | 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 | 14.0 | 79.7 | 84.1 |  |
| Average All | 2.50 | 1.79 | 0.020 | 0.943 | 13.7 | 77.6 | 82.8 |  |

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10.3.1.6&nbsp;&nbsp;&nbsp;&nbsp;Hazen Research, Inc. – August 2011

For this investigation, 38 drill hole composite samples from five mineralized material types. Initially, flotation was performed with sodium hydrosulfide (NaHS) and copper sulfate (CuSO4). In subsequent tests, the NaHS and CuSO4 were eliminated and lead nitrate (Pb(NO3)2) was added as a modifying agent. The pH ranged from neutral to 10.5, after modifying agents were used. The redox potential was also monitored.

A series of 91 small-scale flotation experiments was performed on 4.4-lbs splits from the 38 composites. The objective of the flotation work was to define the variability among the composite samples.

The next 41 small-scale flotation experiments were performed on Composites 1–38, except for Composites 6, 8, 9, and 10, using rougher flotations following G&T Metallurgical conditions and conditions recommended by Hazen. Rougher weight pulls ran from 4.9% to 30.7%, with Au and Ag recoveries running from 26.9% to 97.6% and 17.1 to 98.7%, respectively.

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 almost 73.601 oz/ton Ag (Test 3346-68). The Au and Ag recovered in the rougher concentrates ranged from 27% (Test 3346-52) to 91% (Test 3346-68) and from 17% (Test 3346-52) to almost 99% (Test 3346-68), respectively.

10.3.1.7&nbsp;&nbsp;&nbsp;&nbsp;Fitness of Grind for Flotation Tests

Most flotation tests on Hycroft samples were performed on materials that were ground at 80 percent finer than 100 microns. Several other tests were also conducted at finer and coarser grinds. The general trend indicates that flotation can achieve good recoveries at grinds ranging from 100 to 150 microns. Recoveries tended to decrease with grinds finer than 100 microns or coarser than 150 microns.

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10.3.1.8&nbsp;&nbsp;&nbsp;&nbsp;Reagent Suite

Both G&T and Hazen concluded that flotation tests using NaHS as a sulfurizing agent, as well as tests done at alkaline pH, generally performed poorly.

The exploratory and variability flotation test results presented above showed that sulfide mineralized materials can be floated for Au and Ag. The reagents used were strong, non-selective sulfide collectors. Frothing was achieved with either methyl isobutyl carbinol (MIBC) or Dowfroth 250 (DF250), or both. Table 10-6 summarizes the reagent schemes applied by G&T, SGS, and Hazen. In all laboratory tests, the reagent dosages were high.

Table 10-6:&nbsp;&nbsp;&nbsp;&nbsp;Flotation Reagent Schemes Studied

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| | | | |
|:---|:---|:---|:---|
| **Reagent, (lb/ton)** | **Laboratory** | **Laboratory** | **Laboratory** |
| **Reagent, (lb/ton)** | **G&T** | **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 |

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

10.3.2&nbsp;&nbsp;&nbsp;&nbsp;Flotation Time

Flotation kinetics were not systematically studied when the flotation tests were being conducted. However, flotation data from the G&T work on M Composites included recoveries from froth collected at 4, 8, 12, and 16 minutes. Fifteen rougher flotation tests were performed. Kinetics plots for Au and Ag from this work are shown in Figure 10-1, which shows only a few data points to avoid clutter, but shows the recovery curves fitted to the data points by asymptotic curve fitting.

From each of the 15 sets of data, the maximum recovery, Rmax and kinetics constant, K were derived from the asymptotic lines.

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

10.4&nbsp;&nbsp;&nbsp;&nbsp;Direct Cyanidation

Direct cyanidation of concentrate bulk samples (P80 = 325 mesh, or 44 microns) taken from all zones of the deposit were conducted early on in 2010. These tests yielded poor results with recoveries from Brimstone and Vortex samples in the mid-20% range for Au and 80% range for Ag, while the other samples yielded recoveries ranging from 45 to 50% for Au and 55 to 83% for Ag.

A good measure of recovery by direct cyanidation is the ratio of cyanide soluble metal to the total assay of the metal, that is, AuCN/AuFA and AgCN/AgFA. These ratios have been determined for a large number of exploration samples and have been included in the resource database. The cyanide soluble ratios for Au have been utilized in resource estimation, particularly to route certain minerals with higher cyanide soluble Au to the heap leach pad.

10.5&nbsp;&nbsp;&nbsp;&nbsp;Concentrate Oxidation Tests

Oxidation tests on Hycroft concentrates included POX, roasting, atmospheric oxidation, and other oxidation methods. The results indicated that all these processes would work, with varying degrees of recovery. The following is a summary of the results of these tests.

In 2007, Hycroft began to explore milling options to expand production by processing their refractory sulfide mineralized materials. This included the production of flotation concentrates followed by oxidative treatments of the concentrates.

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The focus of this testwork was primarily on oxidation methods typically employed in the gold industry for refractory mineralized materials, POX, and roasting.

In 2012, Hycroft tested a suite of alternative oxidation methods, including chlorination, atmospheric alkaline oxidation (AAO), and fine-grinding with intense cyanidation. The goal was to develop an economically viable process that would be less expensive to build and operate than a POX autoclave facility. Initial results were positive; indicating that the Hycroft rougher concentrates were amenable to oxidation under atmospheric conditions, using trona as the acid neutralizing agent. Pilot plant testing was conducted on three main domains to confirm these results at Hazen Research Inc.

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Figure 10-1:&nbsp;&nbsp;&nbsp;&nbsp;Recovery vs. Time Plot, G&T Kamloops Tests, M Composites

![image_26a.jpg](image_26a.jpg)![image_27a.jpg](image_27a.jpg)

Source: Figure prepared by M3, 2016.

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In 2016, Hycroft began developing an AAO demonstration plant at the mine site utilizing trona to process 100% of the flotation concentrates and produce doré onsite. Accounting for the historical and current performance of the oxide heap leach operations, oxide heap leach metallurgical testing combined with results from all bench-scaled tests, pilot and demonstration plant Mill-AAO metallurgical testing, the individual process recoveries for each processing stream for Au and Ag were calculated and are presented in Table 10-7. This was the basis for the NI 43-101 Feasibility Study Technical Report published in 2016 (Ibrado, A. et al, 2016).

Table 10-7:&nbsp;&nbsp;&nbsp;&nbsp;Estimated Metallurgical Recoveries from 2016 Feasibility Study – Au and Ag

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|:---|:---|:---|:---|:---|:---|:---|
| | **Au** | **Au** | **Au** | **Ag** | **Ag** | **Ag** |
| | **Contained (koz)** | **Recovered (koz)** | **Recovery<br>(%)** | **Contained<br>(koz)** | **Recovered (koz)** | **Recovery<br>(%)** |
| 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 |

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10.5.1&nbsp;&nbsp;&nbsp;&nbsp;Atmospheric Oxidation – Batch Tests

The focus of testing over the years 2013 through 2016 was to develop a process to oxidize sulfide concentrates under atmospheric conditions. The process was envisioned to be conducted in an agitated slurry at elevated temperatures, using oxygen as the oxidant and trona as the neutralizing agent for the acid produced. Several batch oxidation tests using trona were done at Hazen under various conditions on concentrates from Central, Brimstone, and Vortex composites.

Batch tests using trona showed that full oxidation is not required to attain high recoveries in subsequent cyanide leaching, consistent with the findings of earlier oxidation studies. About 85% of the Au and 92% of the Ag can be recovered by cyanidation if 60% of the sulfide-sulfur content in the concentrate is oxidized. The results for Au are shown in Figure 10-2.

The reaction kinetics were also found to be improved by higher temperatures up to 167ºF. Higher reaction temperatures (around 194ºF) were tested but returned slower oxidation kinetics, perhaps due to the decreased oxygen solubility in the laboratory bench-scale setting.

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Figure 10-2:&nbsp;&nbsp;&nbsp;&nbsp;Au Extraction vs. Sulfide Oxidation

![image_28a.jpg](image_28a.jpg)

Source: Figure prepared by M3, 2019.

10.5.2&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mill Demonstration Plant

Hycroft Mining built a demonstration plant with nominal capacity of 10 ton/d at the Hycroft mine site. The plant consisted of a ball mill, a rougher flotation bank, concentrate and tailing thickeners, a regrind mill, oxidation tanks, neutralization tanks, an oxidized concentrate thickener, cyanide leach tanks, CCD thickeners, and a Merrill-Crowe precipitation package. It was operated continuously as an integrated plant, with concentrate surge capacity before oxidation and a pregnant solution storage before Merrill-Crowe. A report on the results of conclusions from the demonstration plant was presented in 2019 (M3 Engineering & Technology et al., 2019).

The demonstration plant was operated with Central and Brimstone materials that were mined from exposed mineralization at the surface of the current open pit.

Highlights of the demonstration plant test results are shown in Figure 10-3 for Central materials. For clarity, only results from Tank 1 (TK1) and Tank 5 (TK5) are shown. Oxidation levels of 60% or better were achieved when the correct steady- state testing conditions were maintained.

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Figure 10-3:&nbsp;&nbsp;&nbsp;&nbsp;Oxidation of Central Flotation Concentrate: Sulfate Spike Test

![image_29a.jpg](image_29a.jpg)

Source: Figure prepared by M3, 2019.

Once the concentrates were oxidized, Au and Ag recoveries significantly improved over the direct cyanidation recoveries. The results of cyanide leaching of oxidized concentrate are shown on Figure 10-4 as recovery of Au and Ag during the demonstration plant operation. The graph starts with Central concentrate and then switches to Brimstone concentrates on June 11, 2016. Recovery of Au and Ag from Central concentrate peak at around 85%. Au recovery from Brimstone reaches 80 percent while Ag recoveries from Brimstone peaked at 90%. The general shape of the lines roughly follows the degree of oxidation of the concentrate.

Figure 10-4:&nbsp;&nbsp;&nbsp;&nbsp;Demonstration Plant Cyanide Leach Recovery of Au and Ag

![image_30a.jpg](image_30a.jpg)

Source: Figure prepared by M3, 2019.

10.5.3&nbsp;&nbsp;&nbsp;&nbsp;Pressure Oxidation

Previous POX testwork was performed primarily by Hazen and SGS on various flotation concentrates of Hycroft sulfide mineralized materials samples, composites thereof and two transition samples. POX testwork has also been performed by Hazen and SGS under both alkaline and acidic environments.

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The following is a list all POX testwork reports provided to Ausenco:

&nbsp;&nbsp;&nbsp;&nbsp;Hazen Project 11232 Report and Appendices A-F, *POX-CIL Evaluation of Hycroft Flotation Concentrates*.

&nbsp;&nbsp;&nbsp;&nbsp;Hazen Project 11243-01 Report and Appendix, *Evaluation of Hycroft Blend Flotation Concentrate*.

&nbsp;&nbsp;&nbsp;&nbsp;Hazen Project 11307 Report and Appendix, *Evaluation of Kappes, Cassiday & Associates Flotation Concentrate*.

&nbsp;&nbsp;&nbsp;&nbsp;SGS Project 13224-001/003 Final Report, *An Investigation into Oxidative Pre-treatment of Hycroft Flotation Concentrates*.

&nbsp;&nbsp;&nbsp;&nbsp;SGS Hycroft Project – 12012-001 Report 3, *The Recovery of Au and Ag from Hycroft Project Sulfide Samples, Allied Nevada Gold Corporation*.

&nbsp;&nbsp;&nbsp;&nbsp;Kappes, Cassidy & Associates Project No. 189 C, *Hycroft Pressure Oxidation and Leach Testwork*.

Previous testwork on alkaline POX had been conducted on flotation concentrates. Table 10-8 summarizes the alkaline POX test results conducted by Hazen, SGS.

The results indicate that: 1) an operating temperature range of 212° F to 437°F; 2) 40 psi oxygen overpressure; and 3) 240 minutes to 360 minutes residence time. The limited dataset for alkaline POX indicated poorer gold and silver recoveries.

Table 10-8:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Alkaline POX Testwork Summary

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Flotation Concentrates Samples** | **Sulfide (Stotal)<br>(wt%)** | **Au<br>(ppm)** | **Ag<br>(ppm)** | **AC Temp.<br>(°F)** | **Solids<br>(wt%)** | **AC Retention Time<br>(min)** | **Oxygen Over-pressure<br>(Psig)** | **Caustic Consumption<br>(lb/ton)** | **NaCN Consumption<br>(lb/ton)** | **Au recovery<br>(%)** | **Ag recovery<br>(%)** |
| Brimstone | 40.1 | 11.6 | 418 | 437 | 20 | 256 | 40 | 5.42 | 1.6 | 98.5 | 72.9 |
| Brimstone | 40.1 | 11.6 | 418 | 212 | 40 | 360 | 40 | 6.06 | 6.8 | 54.3 | 71.2 |
| Hycroft<br>Blend Float Concentrate | 38.5 | 18.1 | 2103 | 437 | 26 | 240 | 40 | 0.15 | 0.2 | 64.3 | 35.8 |
| Hycroft<br>Blend Float Concentrate | 38.5 | 18.1 | 2103 | 437 | 26 | 240 | 40 | 1.46 | 1.6 | 63.8 | 52.0 |
| Hycroft<br>Blend Float Concentrate | 38.5 | 18.1 | 2103 | 437 | 26 | 240 | 40 | 2.95 | 3.3 | 63.8 | 82.1 |

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Previous testwork on acid POX had been conducted on flotation concentrates to determine operating criteria. Table 10-9 summarizes the acid POX test results conducted by Hazen, SGS and KCA.

The results indicate that: 1) an operating temperature range of 374°F to 437°F; 2) 100 psi oxygen overpressure; and 3) 60 minutes' residence time produce the highest cyanide amenability for Au and Ag recovery. The POX tests also indicate that the concentrates may be prone to form jarosites, which inhibits Ag recovery. The evidence for jarosite formation is:

&nbsp;&nbsp;&nbsp;&nbsp;Color of the acidic autoclaved pulp is yellow on discharge and reddish brown when conditioned with a lime boil.

&nbsp;&nbsp;&nbsp;&nbsp;Ag recovery is higher when the pulp is treated with a lime boil, a procedure which subjects the hot pulp for several hours to alkaline conditions.

The gold and silver recoveries from rougher concentrate POX discharge material that has been lime boiled and then leached with cyanide was in the mid-90s and 80s, respectively (Table 10-9).

Acid POX followed by lime boil was evaluated in the development of the mineral resource, in part, due to the ability to consistently achieve sulfide oxidation. Sulfide oxidation through POX is expected to be consistently above 95% whereas sulfide oxidation through AAO did not consistently achieve the 60% target (Figure 10-3). Therefore, gold and silver recoveries from POX residue would be higher and more stable compared to AAO. Other reasons for evaluating POX included:

&nbsp;&nbsp;&nbsp;&nbsp;Acquiring trona in quantities required to operate an AAO circuit was problematic.

&nbsp;&nbsp;&nbsp;&nbsp;Limestone is a more cost-effective reagent for acid neutralization.

&nbsp;&nbsp;&nbsp;&nbsp;Cyanide consumption after pressure oxidation is reduced compared to AAO.

Soda ash was considered as an alternative to trona but was less cost effective than limestone.

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10.5.4&nbsp;&nbsp;&nbsp;&nbsp;Roasting

Roaster testwork was conducted on the Brimstone concentrate from a pilot plant to determine optimum conditions for processing. The results indicate that the optimum roast temperatures are between 797°F and 842°F.

During the tests, average recoveries of 89% Au and 74% Ag were achievable from the concentrates by varying the leach and roast conditions slightly for the majority of the concentrate produced.

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Table 10-9:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Acid POX Testwork Summary

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sulfide Concentrate Samples Tested** | **Sulfide (S**<sup>=</sup>**)<br>(wt%)** | **Au (ppm)** | **Ag (ppm**<sup>[1]</sup>**)** | **Temp (°F)** | **Solids<br>(wt%)** | **Autoclave retention time<br>(min)** | **Oxygen Over-pressure<br>(Psig)** | **Lime Boil Time<br>(hr)** | **Cyan. Conc. (ppt** <sup>[6]</sup>**)** | **Sulfide Oxidation (%)** | **Au recovery (%)** | **Ag recovery (%)** | **Test Lab** |
| Brimstone | 40.1 | 11.60 | 418 | 374 | 20 | 60 | 100 | 2 | 1 | - | 97.5 | 89.0 | Hazen |
| Cut 4 | 36.9 | 11.40 | 168 | 374 | 20 | 60 | 100 | 2 | 1 | - | 94.0 | 94.1 | Hazen |
| Camel | 37.7 | 9.33 | 152 | 374 | 20 | 60 | 100 | 2 | 1 | - | 97.7 | 89.9 | Hazen |
| Bay | 22.1 | 6.03 | 52.3 | 374 | 20 | 60 | 100 | 2 | 1 | - | 97.5 | 75.3 | Hazen |
| Bone Yard | 31.9 | 5.97 | 95.3 | 374 | 20 | 60 | 100 | 2 | 1 | - | 96.0 | 86.0 | Hazen |
| Hycroft Blend | 38.5 | 18.10 | 2103 | 401 | 15 | 60 | 100 | 2 | 1 | - | 100.0 | 77.1 | Hazen |
| Sulfide Master Ro | 18.9 | 4.90 | 432 | 401 | 15 | 60 | 100 | 6 | 1 | - | 87.0 | 65.8 | Hazen |
| Mixed Master Ro | 9.3 | 8.50 | 193 | 401 | 15 | 60 | 100 | 6 | 1 | - | 82.8 | 86.4 | Hazen |
| Central Blk Sul Ro | 8.4 | 2.47 | 26 | 374 | 20 | 60 | 100 | 2 | 1 | 98.8 | 93.6 | 90.5 | SGS |
| Central Blk Sul Cl | 35.6 | 10.10 | 131 | 374 | 20 | 60 | 100 | 2 | 1 | 99.8 | 94.0 | 94.2 | SGS |
| Vortex Blk Sul Ro | 9.1 | 2.93 | 276 | 374 | 20 | 60 | 100 | 2 | 1 | 98.6 | 97.7 | 73.5 | SGS |
| Vortex Blk Sul Cl | 32.3 | 10.80 | 976 | 374 | 20 | 60 | 100 | 2 | 1 | 99.8 | 96.0 | 72.2 | SGS |
| Central Sul Cl | 30.7 | 10.30 | 750 | 374 | 20 | 60 | 100 | 2 | 1 | 98.1 | 93.5 | 81.9 | SGS |
| Brimstone Sul Cl | 34.7 | 7.93 | 392 | 374 | 20 | 60 | 100 | 2 | 1 | 83.6 | 53.6 | 49.5 | SGS |
| Vortex Sul Cl | 35.4 | 8.03 | 350 | 374 | 20 | 60 | 100 | 2 | 1 | 94.2 | 94.5 | 89.2 | SGS |
| POX 1 Cl con F-16 <sup>[2]</sup> | 31.1 | 5.93 | 158 | 437 | 8.1 | 90 | 100 | 0-3 | 1 | 98.8 | 71.8 | 5.5 | SGS |
| POX 2 Cl con F-25 <sup>[3]</sup> | 33.9 | 9.38 | 155 | 437 | 8.2 | 90 | 100 | 0-3 | 1 | 98.6 | 64.3 | 19.1 | SGS |
| POX 3 Cl con F-26 <sup>[4]</sup> | 24.2 | 4.95 | 165 | 435 | 9 | 90 | 100 | 0-3 | 1 | 97.6 | 72.7 | 72.7 | SGS |
| Brimstone Sul Cl <sup>[5]</sup> | 33.9 | 7.13 | 383 | 428 | 30 | 300 | 100 | 2 | 2 | 99.9 | 94.0 | 97.0 | KCA |
| [1] Fire Assay | [1] Fire Assay | [1] Fire Assay |  |  |  |  |  |  |  |  |  |  |  |
| [2] No lime boil, no NaCl | [2] No lime boil, no NaCl | [2] No lime boil, no NaCl |  |  |  |  |  |  |  |  |  |  |  |
| [3] No lime boil, 1.34 oz/g NaCl | [3] No lime boil, 1.34 oz/g NaCl | [3] No lime boil, 1.34 oz/g NaCl |  |  |  |  |  |  |  |  |  |  |  |
| [4] No lime boil, 2.67 oz/g NaCl | [4] No lime boil, 2.67 oz/g NaCl | [4] No lime boil, 2.67 oz/g NaCl |  |  |  |  |  |  |  |  |  |  |  |

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[5] H2SO4 added to autoclave feed <br> [6] ppt parts per thousand

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10.6&nbsp;&nbsp;&nbsp;&nbsp;Deleterious Elements

The deleterious element assay for five bulk samples from Hazen Research Inc is shown in Table 10-10 below.

Table 10-10:&nbsp;&nbsp;&nbsp;&nbsp;Deleterious Element Assay

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| | |
|:---|:---|
| **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 present in the mineralized materials in moderate to high levels are deleterious element and impact the gold recovery process. This is managed by zinc precipitation then retorted to capture the mercury.

10.7&nbsp;&nbsp;&nbsp;&nbsp;QP Comment

From 2009 to 2016, the laboratories (G&T, SGS, Hazen, and KCA) conducted metallurgical testworks on the Hycroft sulfide mineral deposit. These laboratories are independent of Hycroft and specialize in metallurgical testwork for gold deposits.

These international laboratories are leaders in metallurgical and mineralogical testing, and the analytical procedures used in the analysis are conventional industry practices.

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11&nbsp;&nbsp;&nbsp;&nbsp;MINERAL RESOURCE ESTIMATES

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 economic extraction. The mineral resource was developed in accordance with the U.S. Securities and Exchange Commission Rule SK-1300 for Mineral Projects. The estimate of mineral resources reflects in-place mineralization as the point of reference. This work was completed by IMC with John Marek P.E. acting as the Engineer of Record.

The model was assembled to support production prediction for future mine planning, and for the Hycroft initial assessment presented in this text.

11.1&nbsp;&nbsp;&nbsp;&nbsp;Model Location

The block model is assembled in the existing local mine grid. That grid is rotated 15.85 degrees (right rotation looking down) compared to true north. Table 11-1 summarizes the block size and block limits.

Table 11-1:&nbsp;&nbsp;&nbsp;&nbsp;Block Size and Model Size

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| | | | |
|:---|:---|:---|:---|
| **Model Location** | **From Coordinates** | **To Coordinates** | **Number of Blocks** |
| Easting Limit | 13,000 | 26,000 | 325 |
| Northing Limit | 35,440 | 54,800 | 484 |
| Elevation Limits | 2,200 | 6,600 | 110 |
| Block Size | Block Size | Block Size | 40 x 40 x 40 ft |

---

Note: Coordinates are the outside edges of the blocks. The model is assembled in the mine grid.

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.

11.2&nbsp;&nbsp;&nbsp;&nbsp;Database

The drillhole database was assembled over many years by multiple companies using at least four different drill methods. That history and the verification of the historical information has been discussed in previous sections.

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 of hard rock by sonic or rotary methods. The stockpile holes have been used to estimate the stockpile and leach pad areas, they have not been used to estimate in-situ rock. In total, the Hycroft database contains 5601 drillholes with 500,214 sample intervals. Within the area of the block model, there are 5,532 drillholes with 490,452 drill intervals amounting to 2,537,335 ft of drilling. Table 11-2 summarizes the amount of drilling and assay information that was used to assemble the block model.

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Table 11-2:&nbsp;&nbsp;&nbsp;&nbsp;Data Available for the Assembly of the Resource Model for Au, and Ag

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** | **Total in<br>Model** | **Stockpile Drilling** | **In-Situ Rock Drilling** | **Total In-Situ Rock Remaining<br>After 31 Jan '21** | **Assays for In-situ Estimation After Removal of 1982-1987 Drilling** |
| Holes | 5532 | 188 | 5344 | 4749 | 3974 |
| Assay Intervals | 490452 | 3269 | 487183 | 361293 | 434634 |
| Au Fire Assays | 455306 | 2354 | 452952 | 340818 | 401696 |
| Au Cn Assays | 342367 | 1955 | 340412 | 251288 | 289355 |
| Ag Fire Assays | 302280 | 2339 | 299941 | 263990 | 299941 |
| Ag Cn Assays | 327391 | 2126 | 325265 | 246397 | 310403 |

---

The column titled In-Situ Rock Remaining, is intended to illustrate the amount of information remaining in the ground after historical mining. All of the in-situ rock drilling was used to estimate the block grades in the in-situ rock. The last column indicates how much of the information was used to estimate measured and indicated class mineralization.

Sulfide sulfur was estimated from a combination of two 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 and 2022 sent to Buena Veritas were assayed for sulfide sulfur using the LECO method on each 5 ft interval. Those 5ft intervals were composited to 25ft and combined with the historical LECO database for block grade estimation. The combined sulfide sulfur LECO database contains 9,782, composites that are each 25ft long averaging 1.56% sulfide sulfur.

Mercury was sampled as part of an ICP program with 7,306 composite intervals from 373 drillholes with nominal composite length of 40 ft. There are 6,738 intervals from that data set assayed for mercury by ICP methods.

11.3&nbsp;&nbsp;&nbsp;&nbsp;Basic Statistics

The assay values of economic interest at the mine are gold, silver, and sulfide sulfur. Sulfide sulfur has an impact on the operating cost of the concentrate treatment plant. In addition, the cyanide soluble assays of Au and Ag are of interest because they provide a basis to establish the best metallurgical process based on the ability of Au and Ag to dissolve into cyanide solution.

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 on Table 11-3 was used for block grade estimation even though some of the assay values would be located above current post mining topography. Drilling data from 1982 through 1987 was bias corrected and used to contribute to inferred class mineralization only.

Table 11-3:&nbsp;&nbsp;&nbsp;&nbsp;Assay Database (No Stockpile Assays, and No Drilling from 1982 through 1987)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Commodity** | **Number of Assays** | **Mean Grade** | **Standard Deviation of Grade** | **Maximum Value** |
| Fire Au | 401696 | 0.0064 oz/ton | 0.016 oz/ton | 3.150 oz/ton |
| Cyanide Sol Au | 289355 | 0.0029 oz/ton | 0.018 oz/ton | 6.000 oz/ton |
| Cn Au/FaAu | 281171 | 0.37 | 0.37 | 1.00 |
| Fire Ag | 299941 | 0.20 oz/ton | 1.91 oz/ton | 647.50 oz/ton |
| Sulfide Sulfur | 9782 | 1.56% | 1.55% | 42.86% |
| From the Combined LECO database | From the Combined LECO database | From the Combined LECO database | From the Combined LECO database | From the Combined LECO database |

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Table 11-3 also illustrates that Au cyanide soluble assays exist on roughly 72% of the database. Ag fire assays exist on 75% database. During leach operations, cyanide Ag assays were routinely 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.

Since 72% of the data have received cyanide Au assays, the ratio of cyanide Au / fire Au was estimated rather than cyanide Au directly. Although not statistically optimum, the process is necessary and common in the industry. The ratio of cyanide soluble Au to fire assay Au (CnAu/FaAu = Cnratau) is used during mine planning to allocate material to the proper treatment process. When the Cnratau is calculated, values over 1.0 are set back to 1.0. The basic statistics of Cnratau are also summarized on Table 11-3. In simple terms, the cyanide to fire ratio reflects the degree of oxidation in the rock mass.

11.3.1&nbsp;&nbsp;&nbsp;&nbsp;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 have impacts on mineralization.

11.3.2&nbsp;&nbsp;&nbsp;&nbsp;Lithology

The main lithology or rock types in the Hycroft deposit are:

&nbsp;&nbsp;&nbsp;&nbsp;Alluvium

&nbsp;&nbsp;&nbsp;&nbsp;Tuffaceous Lake Bed Sediment, Part of the Tertiary Sulfur Group

&nbsp;&nbsp;&nbsp;&nbsp;Camel Conglomerate. Part of the Tertiary Sulfur Group, and eroded from the Kamma Volcanics

&nbsp;&nbsp;&nbsp;&nbsp;Kamma Volcanics, Tertiary, but older than the sulfur group conglomerates and sediments.

&nbsp;&nbsp;&nbsp;&nbsp;Auld Lang Sign (ALS)

&nbsp;&nbsp;&nbsp;&nbsp;Jurassic laminated siltstone, the basement of the deposit.

The Alluvium is typically barren and was not assigned grade within the model. The primary mineral hosts are the Camel and Kamma units. There is minor mineralization in the ALS but since there is little drilling it has not been estimated in this resource model.

Interpreted solids representing the above rock types were provided by Hycroft and checked against logging by IMC. IMC found them appropriate for use in development of the resource model. Figure 11-1 is an east–west cross-section illustrating the major rock types looking north.

Assay values were back coded from the lithology solids prior to boundary analysis.

11.3.3&nbsp;&nbsp;&nbsp;&nbsp;Alteration

Alteration consists of:

&nbsp;&nbsp;&nbsp;&nbsp;Argillic;

&nbsp;&nbsp;&nbsp;&nbsp;Silicic; and

&nbsp;&nbsp;&nbsp;&nbsp;Propylitic.

Hycroft provided alteration solids to IMC. 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 prevalent 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.

Assay values were back coded from the alteration solids prior to boundary analysis.

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11.3.4&nbsp;&nbsp;&nbsp;&nbsp;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 possibly the conduit of mineralization in the eastern portion of the deposit. The footwall of the East Fault has minor mineralization, but grades were not estimated in the footwall within this model.

Figure 11-3 is a map view of the faults and the numbering system assigned by IMC 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.

Assay intervals were back coded from the structure block solids prior to boundary analysis.

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Figure 11-1:&nbsp;&nbsp;&nbsp;&nbsp;East–West Cross-Section 43,000N Looking North, showing Hycroft Rock Types

![image_37a.jpg](image_37a.jpg)

Source: Figure prepared by IMC, 2022.

Figure 11-2:&nbsp;&nbsp;&nbsp;&nbsp;East–West Cross-Section 43,000N Looking North, showing Hycroft Alterations

![image_38a.jpg](image_38a.jpg)

Source: Figure prepared by IMC, 2022.

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Figure 11-3:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Structure Interpretation

![image_41a.jpg](image_41a.jpg)

Source: Figure prepared by IMC, 2021.

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11.4&nbsp;&nbsp;&nbsp;&nbsp;Domains

Domains for grade estimation are a combination of structure, alteration, and lithology. The domain boundaries were developed by studying the basic statistics and by performing boundary analysis between contacting structural domains.

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 boundary analysis, IMC arrived at 14 domains, primarily based on the results analyzing the Au assay information.

The domains are summarized on Table 11-4.

Table 11-4:&nbsp;&nbsp;&nbsp;&nbsp;Population Domains for Grade Estimation

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| | | | | |
|:---|:---|:---|:---|:---|
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** |
| 1 | Acid Lch 501 | All | All | Acid Leach Alteration |
| 2 | Arg+Prop 502+504 | Tsg 4 | All | Argillic Lake Sediments |
| 3 | Silicic 503 | Tsg 4 | All | Silicic Lake Sediments |
| 4 | Arg+Prop 502+504 | All | 10 | Argillic West of the Range Fault |
| 5 | Arg+Prop 502+504 | All | 101 | Argillic Between Range and West Splay |
| 6 | Arg+Prop 502+504 | All | 102 | Argillic Between West Splay and Central |
| 7 | Arg+Prop 502+504 | All | 203, 204 | Argillic Between West Splay and Central South |
| 8 | Arg+Prop 502+504 | All | 104, 105, 201, 202, 205, 207, 501 | Argillic Between Central Fault and East Footwall |
| 9 | Silicic 503 | All | 10 | Silicic West of the Range Fault |
| 10 | Silicic 503 | All | 101 | Silicic Between Range and West Splay |
| 11 | Silicic 503 | All | 102 | Silicic Between West Splay and Central |
| 12 | Silicic 503 | All | 203, 204 | Silicic Between West Splay and Central South |
| 13 | Silicic 503 | All | 104, 105, 201, 202, 205, 207, 501 | Silicic Between Central Fault and East Footwall |
| 14 | All | 2 | All | Alluvium, not estimated |

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11.5&nbsp;&nbsp;&nbsp;&nbsp;Assay Caps

Prior to grade estimation, high-grade outliers were capped to limit undue impact on block grade estimation. Cumulative frequency plots were studied within each of the domains in order to set cap values. In all cases, only a small

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percentage of high valued samples were capped, generally less than 0.5% of the database. Table 11-5 summarizes the cap values that were applied to assays prior to calculating composites.

Table 11-5:&nbsp;&nbsp;&nbsp;&nbsp;Assay Cap Values

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** | **Cap Values Au (oz/ton)** | **Cap Values Ag (oz/ton)** |
| 1 | Acid Lch 501 | All | All | Acid Leach Alteration | 0.200 | 4.00 |
| 2 | Arg+Prop 502+504 | Tsg 4 | All | Argillic Lake Sediments | 0.045 | 0.60 |
| 3 | Silicic 503 | Tsg 4 | All | Silicic Lake Sediments | 0.025 | 0.70 |
| 4 | Arg+Prop 502+504 | All | 10 | Argillic West of the Range Fault | 0.037 | 1.50 |
| 5 | Arg+Prop 502+504 | All | 101 | Argillic Between Range and West Splay | 0.070 | 0.35 |
| 6 | Arg+Prop 502+504 | All | 102 | Argillic Between West Splay and Central | 0.150 | 0.80 |
| 7 | Arg+Prop 502+504 | All | 203, 204 | Argillic Between West Splay and Central South | 0.150 | 10.00 |
| 8 | Arg+Prop 502+504 | All | 104, 105, 201, 202, 205, 207, 501 | Argillic Between Central Fault and East Footwall | 0.300 | 50.00 |
| 9 | Silicic 503 | All | 10 | Silicic West of the Range Fault | 0.030 | 50.00 |
| 10 | Silicic 503 | All | 101 | Silicic Between Range and West Splay | 0.095 | 4.50 |
| 11 | Silicic 503 | All | 102 | Silicic Between West Splay and Central | 0.250 | 20.00 |
| 12 | Silicic 503 | All | 203, 204 | Silicic Between West Splay and Central South | 0.250 | 90.00 |
| 13 | Silicic 503 | All | 104, 105, 201, 202, 205, 207, 501 | Silicic Between Central Fault and East Footwall | 0.300 | 45.00 |
| 14 | All | 2 | All | Alluvium, not estimated |  |  |

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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 sonic drilling and the drilling in the Crofoot leach dump were excluded from the analysis as they do not represent in-situ mineralization.

11.6&nbsp;&nbsp;&nbsp;&nbsp;Bench Height Confirmation

Prior to compositing, a test was completed to confirm the selection of bench height for the model. The assay database was composited to alternative bench height intervals of 20 ft to 45 ft in 5-foot 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 0.002, 0.003, 0.004, and 0.005 oz/ton Au were tested at each of the bench heights. The sonic drilling and Crofoot leach pad drilling were not included.

The resulting graph is shown on Figure 11-4. Each line represents a different cutoff grade. The graph indicates that a bench height of 35 ft could result in a slight improvement in the recovery of Au compared to other tested heights.

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Figure 11-4:&nbsp;&nbsp;&nbsp;&nbsp;Bench Height Analysis

![image_42a.jpg](image_42a.jpg)

Source: Figure prepared by IMC, 2021.

The improvement at 35 ft would be between 0.3% and 1.1% difference in recoverable metal compared to the current operating 40 ft bench. The improvement due to 35 ft benches is not sufficient to warrant a change to the planned operational practice of 40 ft.

11.7&nbsp;&nbsp;&nbsp;&nbsp;Composites

The assay data was composited to 40 ft downhole or length composites for input to grade estimation. The compositing was applied to the capped grades noted in a previous sub-section. Lithology, alteration, and structure block were assigned to each 40 ft composite on a majority basis. Lithology, alteration, and structure block were not respected in the composite process allowing composites to straddle a boundary. Table 11-6 summarizes the basic statistics of the composited assay data.

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Table 11-6:&nbsp;&nbsp;&nbsp;&nbsp;Basic Statistics of 40-ft Length Composites, In-Situ Rock, Eliminating Years 1982 to 1987

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** | **Statistics Summary for 40-ft Composites** | **Statistics Summary for 40-ft Composites** | **Statistics Summary for 40-ft Composites** | **Statistics Summary for 40-ft Composites** |
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** | **Statistic** | **Au oz/ton** | **Ag oz/ton** | **CnAu/ FaAu Ratio** |
| 1 | Acid Lch 501 | All | All | Acid Leach Alteration | N =<br>Mean =<br>Std =<br>Max = | 5,628<br>0.0046<br>0.0075<br>0.1325 | 1,726<br>0.1012<br>0.2413<br>2.9454 | 3.705<br>0.5740<br>0.3044<br>1.0000 |
| 2 | Arg+Prop 502+504 | Tsg 4 | All | Argillic Lake Sediments | N =<br>Mean =<br>Std =<br>Max = | 1,017<br>0.0012<br>0.0015<br>0.0167 | 974<br>0.0609<br>0.2087<br>6.4275 | 611<br>0.5208<br>0.4048<br>1.0000 |
| 3 | Silicic 503 | Tsg 4 | All | Silicic Lake Sediments | N =<br>Mean =<br>Std =<br>Max = | 92<br>0.0026<br>0.0036<br>0.0139 | 89<br>0.00731<br>0.0775<br>0.4949 | 41<br>0.3859<br>0.4098<br>1.000 |
| 4 | Arg+Prop 502+504 | All | 10 | Argillic West of the Range Fault | N =<br>Mean =<br>Std =<br>Max = | 473<br>0.0024<br>0.0037<br>0.0290 | 455<br>0.0568<br>0.0628<br>0.7984 | 198<br>0.2512<br>0.3020<br>1.0000 |
| 5 | Arg+Prop 502+504 | All | 101 | Argillic Between Range and West Splay | N =<br>Mean =<br>Std =<br>Max = | 306<br>0.0024<br>0.0040<br>0.0280 | 285<br>0.0498<br>0.0369<br>0.2840 | 192<br>0.5818<br>0.3436<br>1.0000 |
| 6 | Arg+Prop 502+504 | All | 102 | Argillic Between West Splay and Central | N =<br>Mean =<br>Std =<br>Max = | 1396<br>0.0047<br>0.0072<br>0.0710 | 826<br>0.0673<br>0.0746<br>1.2504 | 981<br>0.5159<br>0.3238<br>1.0000 |

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| 7 | Arg+Prop 502+504 | All | 203, 204 | Argillic Between West Splay and Central South | N =<br>Mean =<br>Std =<br>Max = | 3,738<br>0.0036<br>0.0065<br>0.1200 | 2,759<br>0.0803<br>0.1634<br>2.7958 | 2,228<br>0.4267<br>0.3648<br>1.0000 |
| 8 | Arg+Prop 502+504 | All | 104, 105, 201, 202, 205, 207, 501 | Argillic Between Central Fault and East Footwall | N =<br>Mean =<br>Std =<br>Max = | 9,422<br>0.0034<br>0.0062<br>0.1.09 | 8,058<br>0.1155<br>0.3888<br>14.219 | 5,676<br>0.3728<br>0.3510<br>1.0000 |
| 9 | Silicic 503 | All | 10 | Silicic West of the Range Fault | N =<br>Mean =<br>Std =<br>Max = | 1,040<br>0.0055<br>0.0055<br>0.0255 | 1,033<br>0.1735<br>0.5793<br>10.212 | 558<br>0.1756<br>0.2487<br>1.0000 |
| 10 | Silicic 503 | All | 101 | Silicic Between Range and West Splay | N =<br>Mean =<br>Std =<br>Max = | 190<br>0.0078<br>0.0104<br>4.5000 | 172<br>0.1225<br>0.2198<br>1.6540 | 122<br>0.4527<br>0.2931<br>1.0000 |
| 11 | Silicic 503 | All | 102 | Silicic Between West Splay and Central | N =<br>Mean =<br>Std =<br>Max = | 1,800<br>0.0094<br>0.0095<br>0.1265 | 1,300<br>0.1322<br>0.2488<br>4.8170 | 1,384<br>0.4757<br>0.2414<br>1.0000 |

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 12 | Silicic 503 | All | 203, 204 | Silicic Between West Splay and Central South | N =<br>Mean =<br>Std =<br>Max = | 6,682<br>0.0101<br>0.0090<br>0.1502 | 3,960<br>0.2076<br>0.5392<br>16.514 | 5,467<br>0.3037<br>0.2919<br>1.0000 |
| 13 | Silicic 503 | All | 104, 105, 201, 202, 205, 207, 501 | Silicic Between Central Fault and East Footwall | N =<br>Mean =<br>Std =<br>Max = | 16,706<br>0.0085<br>0.0088<br>0.1936 | 13,808<br>0.3165<br>0.7614<br>26.777 | 13,565<br>0.2762<br>0.2853<br>1.0000 |

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11.8&nbsp;&nbsp;&nbsp;&nbsp;Variography

Variograms were calculated for each of the 13 mineralized domains to provide guidance in the selection of search distance and direction for grade estimation. Multiple variograms were run on Au, Ag, sulfide sulfur, and the Cnratau variable.

Figure 11-5 and Figure 11-6 illustrate just a few of the Au and Ag variograms that were completed. Figure 11-5 represents the Au and Ag in the Silicic material between the West Spay and Central Faults (domain 12). Figure 11-6 represents Au and Ag in the Silicic material between the Central Fault and the Footwall of the East Fault (domain 13). These are two of the more important mineralized domains that will contribute to the Mineral Resource.

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Figure 11-5:&nbsp;&nbsp;&nbsp;&nbsp;Variograms for Silicic Material Between the West Splay and Central Faults

**Au**

**North–South**&nbsp;&nbsp;&nbsp;&nbsp;**East–West**

![image_43a.jpg](image_43a.jpg)

**Ag**

**North–South East–West**

![image_44a.jpg](image_44a.jpg)

Source: Figure prepared by IMC, 2022.

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Figure 11-6:&nbsp;&nbsp;&nbsp;&nbsp;Variograms in Silicic Material Between the Central Fault and the East Fault Footwall

**Au**

**North–South**&nbsp;&nbsp;&nbsp;&nbsp;**East–West**

![image_45a.jpg](image_45a.jpg)

**Ag**

**North–South**&nbsp;&nbsp;&nbsp;&nbsp;**East–West**

![image_46a.jpg](image_46a.jpg)

Source: Figure prepared by IMC, 2022.

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11.9&nbsp;&nbsp;&nbsp;&nbsp;Block Grade Estimation

Block grade estimation was done in two passes:

1)&nbsp;&nbsp;&nbsp;&nbsp;The methods described in the following text were applied to the database where the 1982-1987 assay information was excluded. The block grade estimates from that work inclusive of class were locked so that they could not be changed.

2)&nbsp;&nbsp;&nbsp;&nbsp;The 1982-1987 data gold grades were multiplied by 0.56 to remove the observed bias and the model gold grades were estimated. Any gold block grades that were added in this second pass were included in the model and coded as "inferred."

Block grade estimation was broken into three groups of estimates:

&nbsp;&nbsp;&nbsp;&nbsp;Au, Ag, and Mercury

&nbsp;&nbsp;&nbsp;&nbsp;Cnratau

&nbsp;&nbsp;&nbsp;&nbsp;Sulfide Sulfur

The boundaries and controls on each of the three were different as might be expected with the differences in geologic occurrence in each of the three cases.

The Au and Ag were estimated using the 40 ft composites of the assay database discussed previously. Cnratau estimation utilized the same database and composites but with different boundary controls.

Sulfide sulfur was estimated using a separate composite database of LECO analysis for sulfide sulfur as discussed previously.

The block grade estimation for gold was completed in two passes:

1)&nbsp;&nbsp;&nbsp;&nbsp;Block grades were estimated without the 1982 to 1987 drilling, applying the methods described here in text.

2)&nbsp;&nbsp;&nbsp;&nbsp;The mineral resource classes of measured, indicated, and inferred were established without the use of the 1982-1987 data.

3)&nbsp;&nbsp;&nbsp;&nbsp;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 2 above were coded as Inferred.

The estimation of mercury was added later in response to questions from the project process team and is based on a separate database of ICP analysis that was completed on later drilling.

Inverse distance methods were used for most of the block value estimations. Test runs of ordinary kriging were also completed. The intent of selecting the inverse distance method was to develop a better planning model with less smoothing during block estimation. The intent was to provide an estimate of block values that would be predictive of actual mine head grades once appropriate mining cutoffs were applied.

11.9.1&nbsp;&nbsp;&nbsp;&nbsp;Gold, Silver, and Mercury

Gold, silver, and mercury utilized the 13 domains defined previously. Those domain boundaries were treated as "hard" boundaries during estimation. All three metals were estimated using 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 11-7.

Silver was treated differently from gold due to the large number of trace values that now exist in the fire silver assay database. Roughly 6.4% of the fire silver composites are less than 0.02 oz/ton and 38% are less than 0.04 oz/ton. Incorporating these low values into block grade estimation would result in a low-grade bias for the silver mineralized zones. To address this issue, IMC applied the following grade boundary procedure.

1)&nbsp;&nbsp;&nbsp;&nbsp;A nearest neighbor block assignment was completed using the identical search parameters as the grade estimate on Table 11-7. A maximum of one and a minimum of one composite was applied.

2)&nbsp;&nbsp;&nbsp;&nbsp;Nearest neighbor blocks with a grade above 0.02 oz/ton were coded as mineralized. Nearest neighbor blocks with grade less than 0.02 oz/ton were treated as low grade.

3)&nbsp;&nbsp;&nbsp;&nbsp;Inverse distance grade estimation was applied to each of the 13 established domains with an additional hard boundary within each domain based on the 0.02 oz/ton grade boundary. The result was 2 sub-domains within each of the 13 normal domains.

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4)&nbsp;&nbsp;&nbsp;&nbsp;Search radii and orientation for the inside and outside estimate are as shown for silver on Table 11-7.

Within some domains, a high-grade search limit was applied where composites above a certain grade were not used beyond half of the normal search distance. This process includes the high-grade values but limits their extent to minimize high-grade smearing over neighboring low-grade values.

The grade estimation for all three metals used a maximum of ten composites with a maximum of three composites per drillhole. 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).

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![image_58.jpg](image_58.jpg)<br>

![image_50a.jpg](image_50a.jpg)

Table 11-7:&nbsp;&nbsp;&nbsp;&nbsp;Grade Estimation Parameters for Au, Ag, and Mercury

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** |
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** | **Variable** | **Orientation, Degrees** | **Orientation, Degrees** | **Orientation, Degrees** | **Search Radii, ft** | **Search Radii, ft** | **Search Radii, ft** | **Method Inv Dist** | **HG Limit Grade** | **HG Limit Search ft** |
| **Population Domain Number** | **Alteration Type and Code** | **Lithology Type and Code** | **Structure<br>Block<br>Code** | **Description** | **Variable** | **Dip Dir** | **Plunge** | **Rotat.** | **Prim** | **Second** | **Perp** | **Method Inv Dist** | **HG Limit Grade** | **HG Limit Search ft** |
| 1 | Acid Lch 501 | All | All | &nbsp;&nbsp;Acid Leach Alteration | Au<br>Ag<br>Mercury | 270270270 | 0<br>0<br>0 | 0<br>0<br>0 | 270<br>270<br>270 | 270<br>270<br>270 | 50<br>50<br>50 | 3<br>3<br>3 | NA<br>NA<br>NA |  |
| 2 | Arg+Prop 502+504 | Tsg 4 | All | &nbsp;&nbsp;Argillic Lake Sediments | Au<br>Ag<br>Mercury | 0<br>0<br>0 | 0<br>0<br>0 | 0<br>0<br>0 | 270<br>270<br>270 | 270<br>270<br>270 | 50<br>50<br>50 | 3<br>3<br>3 | 0.008<br>NA<br>NA | 135 |
| 3 | Silicic 503 | Tsg 4 | All | &nbsp;&nbsp;Silicic Lake Sediments | Au<br>Ag<br>Mercury | 0<br>0<br>0 | 0<br>0<br>0 | 0<br>0<br>0 | 270<br>270<br>270 | 270<br>270<br>270 | 50<br>50<br>50 | 3<br>3<br>3 | 0.100<br>NA<br>NA | 135 |
| 4 | Arg+Prop 502+504 | All | 10 | &nbsp;&nbsp;Argillic West of the Range Fault | Au<br>Ag<br>Mercury | 270270270 | 0<br>0<br>0 | 0<br>0<br>0 | 150<br>150<br>150 | 150<br>150<br>150 | 50<br>50<br>50 | 3<br>3<br>3 | 0.010<br>0.300<br>NA | 75<br>75 |
| 5 | Arg+Prop 502+504 | All | 101 | &nbsp;&nbsp;Argillic Between Range and West Splay | Au<br>Ag<br>Mercury | 270270270 | 0<br>0<br>0 | 0<br>0<br>0 | 300<br>300<br>300 | 300<br>300<br>300 | 50<br>50<br>50 | 3<br>3<br>3 | NA<br>NA<br>NA |  |
| 6 | Arg+Prop 502+504 | All | 102 | &nbsp;&nbsp;Argillic Between West Splay and Central | Au<br>Ag<br>Mercury | 270270270 | 0<br>0<br>0 | 0<br>0<br>0 | 200<br>200<br>200 | 200<br>200<br>200 | 50<br>50<br>50 | 3<br>3<br>3 | NA<br>NA<br>NA |  |
| 7 | Arg+Prop 502+504 | All | 203, 204 | &nbsp;&nbsp;Argillic Between West Splay and Central South | Au<br>Ag<br>Mercury | 270270270 | 0<br>0<br>0 | 0<br>0<br>0 | 250<br>250<br>250 | 250<br>250<br>250 | 50<br>50<br>50 | 3<br>3<br>3 | 0.100<br>0.600<br>NA | 125<br>125 |
| 8 | Arg+Prop 502+504 | All | 104, 105, 201, 202, 205, 207, 501 | &nbsp;&nbsp;Argillic Between Central Fault and East Footwall | Au<br>Ag<br>Mercury | 285<br>285<br>285 | -40<br>-40<br>0 | 0<br>0<br>0 | 300<br>300<br>300 | 300<br>300<br>300 | 50<br>50<br>50 | 3<br>3<br>3 | 0.080<br>1.500<br>NA | 150<br>150 |

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![image_58.jpg](image_58.jpg)<br>

![image_50a.jpg](image_50a.jpg)

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 9 | Silicic 503 | All | 10 | &nbsp;&nbsp;Silicic West of the Range Fault | Au<br>Ag<br>Mercury | 270<br>270<br>270 | 0<br>0<br>0 | 0<br>0<br>0 | 200<br>200<br>200 | 50<br>50<br>50 | 3<br>3<br>3 | 0.020<br>0.800<br>NA | 100<br>100 |
| 10 | Silicic 503 | All | 101 | &nbsp;&nbsp;Silicic Between Range and West Splay | Au<br>Ag<br>Mercury | 270<br>270<br>270 | 0<br>0<br>0 | 0<br>0<br>0 | 300<br>300<br>300 | 50<br>50<br>50 | 3<br>3<br>3 | 0.030<br>0.500<br>NA | 150<br>150 |
| 11 | Silicic 503 | All | 102 | &nbsp;&nbsp;Silicic Between West Splay and Central | Au<br>Ag<br>Mercury | 270<br>270<br>270 | 0<br>0<br>0 | 0<br>0<br>0 | 300<br>300<br>300 | 50<br>50<br>50 | 3<br>3<br>3 | 0.070<br>0.600<br>NA | 150<br>150 |
| 12 | Silicic 503 | All | 203, 204 | &nbsp;&nbsp;Silicic Between West Splay and Central South | Au<br>Ag<br>Mercury | 270<br>270<br>270 | 0<br>0<br>0 | 0<br>0<br>0 | 250<br>250<br>250 | 50<br>50<br>50 | 3<br>3<br>3 | 0.024<br>1.000<br>NA | 125<br>125 |
| 13 | Silicic 503 | All | 104, 105, 201, 202, 205, 207, 501 | &nbsp;&nbsp;Silicic Between Central Fault and East Footwall | Au<br>Ag<br>Mercury | 285<br>285<br>285 | -40<br>-40<br>0 | 0<br>0<br>0 | 300<br>300<br>300 | 50<br>50<br>50 | 3<br>3<br>3 | 0.100<br>2.000<br>NA | 150<br>150 |

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11.9.2&nbsp;&nbsp;&nbsp;&nbsp;Cyanide Ratio

About 72% of the assay database for fire Au was also assayed for cyanide soluble Au. The cyanide soluble assay is a direct indication of the cyanide amenability of the mineralized material to Au and Ag recovery by cyanidation. Much of the upper portion of the deposit received cyanide soluble assays for Au and Ag.

The Au cyanide assays are the most consistent set of data to estimate the cyanide recovery of the ore. Cnratau was used to indicate cyanide amenability and oxidation. The ratio, where it is available, can be interpolated as an indication of oxidation that has occurred in the rock mass.

The domains selected for Au, Ag, and mercury mineralization 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:

&nbsp;&nbsp;&nbsp;&nbsp;A generally horizontal band near topography reflecting surface water and oxidation that looks like a conventional oxidation blanket.

&nbsp;&nbsp;&nbsp;&nbsp;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 4000 elevation from the east edge of the model to the 19,000 east line. From there the surface trends upward to the 4400 elevation at the 21,000 east line. From 21,000 east to the east edge of the model the 4400 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 11-8 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.

Table 11-8:&nbsp;&nbsp;&nbsp;&nbsp;Estimation Parameters for Cyanide Ratio

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cn Ratio<br>Domain<br>"Contrat"** | **Structure Block Code** | **Description** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** |
| **Cn Ratio<br>Domain<br>"Contrat"** | **Structure Block Code** | **Description** | **Variable** | **Orientation, Degrees** | **Orientation, Degrees** | **Orientation, Degrees** | **Search Radii, Ft.** | **Search Radii, Ft.** | **Search Radii, Ft.** | **Method Inv Dist** |
| **Cn Ratio<br>Domain<br>"Contrat"** | **Structure Block Code** | **Description** | **Variable** | **Dip Dir** | **Plunge** | **Rotation** | **Prim** | **Second** | **Perp.** | **Method Inv Dist** |
| 1 | All | Near Surface Oxidation, East of Central Fault | Cnratau | 0 | 0 | 0 | 700 | 700 | 50 | 3 |
| 2 | 104, 105, 201, 202, 205, 207, 501 | Structural Oxidation, East of Central Fault | Cnratau | 285 | -40 | 0 | 150 | 150 | 50 | 3 |
| 3 | 10, 101, 102, 201, 202, 203, 204, 205, 206 | Structural Oxidation, West of Central Fault | Cnratau | 270 | -90 | 0 | 150 | 150 | 50 | 3 |

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11.9.3&nbsp;&nbsp;&nbsp;&nbsp;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. 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

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type also contains native sulfur which also reports to the LECO assay method for sulfide sulfur. The acid leach alteration was broken out separately for estimation and is not planned for flotation processing.

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 were however adjusted based on structure.

The sulfide sulfur LECO data was performed on selected drillholes. Physical composites 25 ft long were assembled for submittal to LECO analysis by Hycroft. Once a hole was selected, the 25 ft downhole composites were continuous for the length of the hole. These composites were used for input for block estimation without further compositing. Additional 25ft composites from the recent 5ft LECO assays were combined with the original historical LECO composite data.

Table 11-9 summarizes the estimation parameters used to assign sulfide sulfur to the model blocks.

Table 11-9:&nbsp;&nbsp;&nbsp;&nbsp;Sulfide Sulfur Estimation Parameters

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Alteration Type<br>"hyc_alt"** | **Structure Block Code** | **Description** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | **Statistics Summary for 40 ft Composites** | |
| **Alteration Type<br>"hyc_alt"** | **Structure Block Code** | **Description** | **Variable** | **Orientation, Degrees** | **Orientation, Degrees** | **Orientation, Degrees** | **Search Radii, Ft** | **Search Radii, Ft** | **Search Radii, Ft** | **Method Inv Dist** | **HG<br>Search Limit** |
| **Alteration Type<br>"hyc_alt"** | **Structure Block Code** | **Description** | **Variable** | **Dip Dir** | **Plunge** | **Rotation** | **Prim** | **Second** | **Perp.** | **Method Inv Dist** | **HG<br>Search Limit** |
| 501 | All | Acid Leach Alteration | Sulfd | 0 | 0 | 0 | 650 | 650 | 200 | 3 | 10% 40ft |
| All but 501 | 104, 105, 201, 202, 205, 207, 501 | Lith and laceration East of Central Fault | Sulfd | 285 | -40 | 0 | 650 | 650 | 200 | 3 | 10% 40ft |
| All but 501 | 10, 101, 102, 201, 202, 203, 204, 205, 206 | Lith and Laceration West of Central Fault | Sulfd | 0 | 0 | 0 | 650 | 650 | 200 | 3 | 10% 40ft |

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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 is an input to project cost so leaving blocks unestimated would underestimate project costs.

The default values were assigned as follows in Table 11-10. Default values were assigned to blocks that were estimated for Au or Ag and did not receive a sulfide sulfur value from the estimation process noted on Table 11-10.

Table 11-10:&nbsp;&nbsp;&nbsp;&nbsp;Sulfide Sulfur Default Values if Not Estimated

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| | | |
|:---|:---|:---|
| **Alteration Type "hyc_alt"** | **Description** | **Default Sulfide Sulfur %** |
| 501 | Acid Leach | 1.8972 |
| 502 | Argillic | 1.6092 |
| 503 | Silicic | 1.8762 |
| 504 | Propylitic | 1.6090 |
| 0 or 505 | Unassigned | 1.7477 |

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Defaults used if Blocks are Not Estimated

Defaults Assigned if Au or Ag >0

11.9.4&nbsp;&nbsp;&nbsp;&nbsp;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. There is a slight increase in the density of sulfide stockpiles compared to general back fill or dump stockpiles.

Table 11-11 summarizes the densities assigned to the model.

Table 11-11:&nbsp;&nbsp;&nbsp;&nbsp;Density Assigned to the Block Model

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Alteration Type "hyp_alt"** | **Lithology Code "hyc_geol"** | **Description** | **Specific Gravity** | **Lbs/Cu ft** | **Ktons per Model Block** |
| 501 | All | Acid Leach | 2.2654 | 141.36 | 4.524 |
| 502 | All | Argillic | 2.2094 | 137.87 | 4.412 |
| 503 | All | Silicic | 2.5055 | 156.34 | 5.033 |
| 504 | All | Propylitic | 2.3193 | 144.72 | 4.631 |
|  | 2 | Alluvium | 1.7808 | 111.12 | 3.556 |
|  | 7 | Auld Lang Syne | 2.6520 | 165.48 | 5.296 |
| **Stockpile "stkptyp"** | **Stockpile "stkptyp"** | **Stockpile "stkptyp"** | **Specific Gravity** | **Lbs/Cu ft** | **Ktons per Block** |
| 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 1.6026 | 100.00 | 3.2000 |
| 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 1.7049 | 106.39 | 3.4040 |
| 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 802 80108 80109 80110 80100, NW+Gen Fill Sulfide Stkps 80101 80102 80103 80104 + 80105 80106 80107, Central+Brim Stkps 80120, Crofoot Leach Pad | 2.0000 | 124.80 | 3.9936 |

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11.9.5&nbsp;&nbsp;&nbsp;&nbsp;Stockpile Grade Estimation

The Hycroft pits have incurred both backfilling and in-pit stockpiling. In particular, potential sulfide mill feed that has been incurred during the mining of oxide heap leach ores have been stockpiled. That material is potential future mill feed to a sulfide processing facility.

Hycroft provided interpreted solids based on survey of many of the stockpiles. Where possible they provided the average tonnage and grade of each stockpile based on their mineralized material control information when the material was mined. In addition, there were a number of additional in-pit fill areas that were modeled within a previous 2019 model. Most of those were in the north area of the project in the old Bay pit.

IMC utilized the Hycroft solids to code model blocks as stockpile or fill. Where the 2019 model had additional backfill codes, IMC utilized those codes in an effort to account for all in-pit materials. In addition, the Crofoot leach pad is located west of the Central Pit area. That material has been coded in order to prevent assignment of grade from original in-situ assay samples.

Some of the stockpiles at Hycroft have been drilled by Sonic drilling and sampling methods. The grade of those stockpiles that contained sonic drilling was assigned with the sonic assays. Where there were no sonic assays in a

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stockpile block, the historical production control grades provided by Hycroft were assigned to the stockpile blocks. Densities were assigned as summarized in the previous sub-section.

Blocks were assigned stockpile codes as summarized on Table 11-12.

Table 11-12:&nbsp;&nbsp;&nbsp;&nbsp;Stockpile Grade Estimation of Assignments

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Stockpile Codes** | **Location** | **Variables Estimated** | **Variables Estimated** | **Variables Estimated** | **Variables Estimated** |
| **Stockpile Codes** | **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** |
| 80100 | Brim Pit |  |  |  |  |
| 80101 | Brim Pit | Search Distances | Search Distances | Search Distances | Estimation Method |
| 80102 | Crusher Stockpile | North ft | East ft | Vert ft | Estimation Method |
| 80104 | Central Pit | 600 | 600 | 200 | 1/D1 |
| 80120 | Crofoot Pad |  |  |  |  |
| **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** | **Location** | **Au<br>oz/ton** | **Ag<br>oz/ton** | **Sulfide Sulfur%** | **CnAu/FaAu Ratio** |
| 80103 | Central Pit | 0.0131 | 0.2308 | 1.89 | 0.25 |
| 80105 | Central Pit | 0.0148 | 0.6514 | 2.51 | 0.20 |
| 802 | General Fill | 0.0000 | 0.0000 | 0.00 | 0.00 |
| 80108 | NW Area | 0.0000 | 0.0000 | 0.00 | 0.00 |
| 80109 | NW Area | 0.0000 | 0.0000 | 0.00 | 0.00 |
| 80110 | NW Area | 0.0000 | 0.0000 | 0.00 | 0.00 |

---

The Crofoot leach pad (code 80120) was assigned a confidence class of inferred. All other stockpiles with grade were assigned a confidence class for indicated.

11.9.6&nbsp;&nbsp;&nbsp;&nbsp;Treatment of 1982 – 1987 Data

The observed high bias with the 1982 – 1987 data was discussed and illustrated in Section 9. The areas that were sampled with that drill data did contain mineralization because roughly half of the 1982-1987 data was actually mined out. To fairly and conservatively represent that mineralization, the 1982-1987 drill data was included using the following steps.

1)&nbsp;&nbsp;&nbsp;&nbsp;The procedures described in the previous sub-sections and in Section 11.10 regarding classification were first completed using the drill hole composites that had excluded the 1982 to 1987 drill data.

2)&nbsp;&nbsp;&nbsp;&nbsp;Once completed, the block gold grades and the block class codes were stored in separate variables.

3)&nbsp;&nbsp;&nbsp;&nbsp;The 1982-1987 composite data was corrected for 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 9.0.

4)&nbsp;&nbsp;&nbsp;&nbsp;The gold estimation procedure was repeated using the identical parameters as described in the previous sub-sections and in item 1.0 above.

5)&nbsp;&nbsp;&nbsp;&nbsp;Any additional blocks that were estimated in pass 2 were added to the gold grade and coded as "inferred."

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. Sulfide sulfur defaults were updated to cover the 1982 to 1987 supported inferred blocks.

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11.10&nbsp;&nbsp;&nbsp;&nbsp;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 stockpile 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,&nbsp;&nbsp;&nbsp;&nbsp;Class=1 Measured

&nbsp;&nbsp;&nbsp;&nbsp;Else if

If closest distance <=225 ft and number of composites >=4,&nbsp;&nbsp;&nbsp;&nbsp;Class=2 Indicated

Otherwise

Remaining Blocks&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class=3, Inferred

The process was actually completed in reverse order to that summarized above so that indicated overprinted inferred and both were overprinted by measured where required.

After the above coding was complete, the additional blocks that resulted from inclusion of the bias corrected 1982-1987 data were coded as inferred.

11.11&nbsp;&nbsp;&nbsp;&nbsp;Model Verification

The block model was verified by several methods before being used to determine mineral resources.

&nbsp;&nbsp;&nbsp;&nbsp;Detailed Visual Checks of Drilling versus Block Estimates;

&nbsp;&nbsp;&nbsp;&nbsp;Swath Plots;

&nbsp;&nbsp;&nbsp;&nbsp;IMC Smear Check;

&nbsp;&nbsp;&nbsp;&nbsp;A brief review of production reconciliation

The visual check of the block model was 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 of the estimated variables in the model. In addition to IMC visual checks, the Hycroft engineering and geology team on site also reviewed the model and helped IMC identify and correct coding issues prior to finalizing the block model.

11.11.1&nbsp;&nbsp;&nbsp;&nbsp;Swath Plots

Swath plots are a practice now common among resource modelers to 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.

Figure 11-7 illustrates the average grades of contained composites and block model grades for horizontal slices through the block model for Au and Ag. The Ag model has smoothed out the composite grade distribution and indicates a model low bias of Ag. This is due to the number of trace value Ag composites and the under sampling of fire silver relative to fire gold. The 1982-1987 data was not included in the drill composites for the gold swath plots.

Figure 11-8 illustrates the composite and block grade comparison for vertical slices in the east–west orientation. The smoothing issue of Ag is also present on the vertical sections.

In both plots, only in-situ block grades are being compared to non-sonic drill composites. Stockpiles have been removed from the swath plots.

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Figure 11-7:&nbsp;&nbsp;&nbsp;&nbsp;Horizontal Swath Plots for Gold and Silver

![image_53a.jpg](image_53a.jpg)![image_54a.jpg](image_54a.jpg)

![image_55a.jpg](image_55a.jpg)

Source: Figure prepared by IMC, 2022.

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Figure 11-8:&nbsp;&nbsp;&nbsp;&nbsp;Vertical Swath Plots for Gold and Silver

![image_56a.jpg](image_56a.jpg)

![image_57a.jpg](image_57a.jpg)

Source: Figure prepared by IMC, 2022.

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11.11.2&nbsp;&nbsp;&nbsp;&nbsp;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 proprietary test is referred to as the "smear check" within IMC.

The procedure is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;A range of cutoff grades are selected for the check process. Typically, they bracket the potential planning cutoff grades.

&nbsp;&nbsp;&nbsp;&nbsp;For each cutoff grade being tested, the blocks above cutoff are identified.

&nbsp;&nbsp;&nbsp;&nbsp;All composites contained within those blocks are identified.

&nbsp;&nbsp;&nbsp;&nbsp;The average grade of the composites and blocks are tabulated.

&nbsp;&nbsp;&nbsp;&nbsp;The percentage of the contained composites less than cutoff are calculated.

Table 11-13 summarizes the results for both Au and Ag in-situ rock. Stockpiles and sonic drillholes have been removed from this analysis.

Table 11-13:&nbsp;&nbsp;&nbsp;&nbsp;IMC Smear Check, Below End 2021 Topography, Without stockpile blocks or drilling, and without data from 1982 through 1987 Drilling.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Au Composites vs Model Au 1/D3** | **Au Composites vs Model Au 1/D3** | **Au Composites vs Model Au 1/D3** | **Au Composites vs Model Au 1/D3** | **Au Composites vs Model Au 1/D3** | **Au Composites vs Model Au 1/D3** |
| **Cutoff Grade** | **% Comps Less than Cutoff** | **Number of Comps In Shape** | **Composite Grade oz/ton** | **Number of Blocks in Shape** | **Model Grade oz/ton** |
| 0.002 | 10.27 | 23945 | 0.009 | 623959 | 0.008 |
| 0.003 | 10.50 | 21.455 | 0.009 | 538123 | 0.008 |
| 0.004 | 12.36 | 19392 | 0.010 | 447208 | 0.009 |
| 0.005 | 14.54 | 17449 | 0.011 | 422071 | 0.010 |
| 0.006 | 16.48 | 15395 | 0.011 | 367737 | 0.011 |
| 0.007 | 18.30 | 13439 | 0.012 | 315079 | 0.011 |
| 0.008 | 19.10 | 11426 | 0.013 | 263245 | 0.012 |
| 0.009 | 19.31 | 9580 | 0.014 | 217341 | 0.013 |
| 0.010 | 20.39 | 8015 | 0.015 | 176906 | 0.014 |
| **Ag Composites vs Model Ag 1/D3** | **Ag Composites vs Model Ag 1/D3** | **Ag Composites vs Model Ag 1/D3** | **Ag Composites vs Model Ag 1/D3** | **Ag Composites vs Model Ag 1/D3** | **Ag Composites vs Model Ag 1/D3** |
| **Cutoff Grade** | **% Comps Less than Cutoff** | **Number of Comps In Shape** | **Composite Grade oz/ton** | **Number of Blocks in Shape** | **Model Grade oz/ton** |
| 0.100 | 12.87 | 12116 | 0.409 | 364305 | 0.330 |
| 0.200 | 16.43 | 6884 | 0.609 | 184315 | 0.513 |
| 0.300 | 18.70 | 4155 | 0.851 | 103768 | 0.723 |
| 0.400 | 19.17 | 2879 | 1.075 | 69287 | 0.912 |
| 0.500 | 19.32 | 2148 | 1.289 | 49110 | 1.104 |
| 0.600 | 19.49 | 1698 | 1.489 | 37087 | 1.285 |
| 0.700 | 19.02 | 1393 | 1.681 | 29283 | 1.455 |
| 0.800 | 18.73 | 1180 | 1.848 | 23532 | 1.628 |
| 0.900 | 19.78 | 991 | 2.040 | 19369 | 1.796 |
| 1.000 | 20.54 | 857 | 2.207 | 16236 | 1.960 |

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The test results are positive. In all cases the model grade is properly less than the grade of the contained composites because the model block grade estimation utilized composite data that was located outside of the shape being tested. If the model grade were higher than the grade of the contained composites, there would be indication of high bias within the model.

The percentage of composites less than the tested cutoff is reasonable in the range of applicable cutoff grades. Percentages in the range of 15% are typical for well zoned deposits. The higher percentage levels in the high-grade ranges are typical of the smoothing process that result with any grade estimator.

11.11.3&nbsp;&nbsp;&nbsp;&nbsp;Reconciliation

Reconciliation of the block model against production is of limited value at Hycroft due to the lack of detailed data regarding long term production history. Due to the multiple owners over the years, much of the historical information that would be necessary for a rigorous production reconciliation is not available.

The current ownership operated the heap leach facility from 2019 through mid-2021. Most of the leach pad loading during 2019 was from existing stockpiles which would not provide validation information for the in-situ block model. From 2020 through 2021, there are 19 months of heap leach production data that is available for reconciliation. That tonnage amounts to about 65% of one year at the contemplated sulfide production rate. That 19 months of production was a mix of oxide to the pad and stockpiling of sulfides encountered in the mining process. That volume of material would provide a general indication of model response but is not of sufficient volume to provide a definitive verification of the model.

The previous Technical Report Summary (February 2022) completed a model estimate of production history. At that time, the model matched production tonnage within 4% and was roughly 30% low in grade. The block model described in this text would produce nearly identical tonnage estimates as that in February of 2022 but would show somewhat higher grades of gold and lower grades of silver based on the changes and corrections applied to the database as discussed earlier in this report.

11.12&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resources

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.

&nbsp;&nbsp;&nbsp;&nbsp;Run of Mine (ROM) cyanide heap leaching, producing a gold and silver doré or

&nbsp;&nbsp;&nbsp;&nbsp;Flotation milling followed by pressure oxidation (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 the mineralization with reasonable expectation of economic extraction as defined by S-K 1300. That software compares the cost of production versus the benefit or 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 on Table 11-4 and the 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 costs.

Table 11-14 summarizes the economic parameters that were used to define the optimized pit that defined the Mineral Resource. The process operating costs were developed by Ausenco during 2022 based on process testing and cost estimation work available at that time. Mine operating cost estimates were developed by IMC based on preliminary mine planning and cost estimation during early 2022.

It should be noted that the processing cost for each block that is considered for flotation and Pox processing changes based on the sulfide sulfur content of the block. As a result, the cutoff grade is presented in terms of income, net of processing: Income – All processing costs. A marginal or internal cutoff grade is consequently $0.01/ton. In order to provide an illustration of the cutoff in terms of equivalent gold, a range of equivalent gold cutoffs are shown.

Metal prices for Mineral Resource were US$1,900/oz Au and US$24.50/oz Ag. Spot prices for gold and silver in 2022 ranged from US$1,628 to $2,039/oz Au and US$17.77 to US$26.18/oz Ag respectively. The prices selected for determination of mineral resources are an approximation of current metal prices and do not include extensive price extrapolation. Table 11-15 summarizes the mineral resource.

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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 engineered and estimated parameters of operating costs, recovery, and metal price. 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 11-15 represents the total amount of material in the ground that meets the requirements for Mineral Resource. Table 11-16 presents the identical mineral resource information converted directly to metric units.

The categories of measured, indicated, and inferred reflect different drill densities as noted in Section 11.10. Uncertainties in the drill database have been minimized by the following two treatment components of the database:

1)&nbsp;&nbsp;&nbsp;&nbsp;The 1982 through 1987 drilling and assay data, which appears biased, has been corrected for bias and incorporated only in the estimation of inferred mineral resources.

2)&nbsp;&nbsp;&nbsp;&nbsp;The cyanide soluble silver assays which measure cyanide amenable silver content have not been used in the mineral resource estimate.

The qualified person holds the opinion that all relevant technical and economic factors likely to influence the project of 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.

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Table 11-14:&nbsp;&nbsp;&nbsp;&nbsp;Economic Parameters for Mineral Resources![image_60a.jpg](image_60a.jpg)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Mining Cost, Base | Mining Cost, Base |  |  | $1.45/ton material moved | $1.45/ton material moved | $1.45/ton material moved |
| +Bench Incremental Cost Below 4660 | +Bench Incremental Cost Below 4660 | +Bench Incremental Cost Below 4660 | +Bench Incremental Cost Below 4660 |  | $0.016/ton per bench of depth | $0.016/ton per bench of depth |
| &nbsp;&nbsp;Categorization of Oxidation Type Based on the AuCN/AuFA Ratio = Cnratau | &nbsp;&nbsp;Categorization of Oxidation Type Based on the AuCN/AuFA Ratio = Cnratau | &nbsp;&nbsp;Categorization of Oxidation Type Based on the AuCN/AuFA Ratio = Cnratau | &nbsp;&nbsp;Categorization of Oxidation Type Based on the AuCN/AuFA Ratio = Cnratau | &nbsp;&nbsp;Categorization of Oxidation Type Based on the AuCN/AuFA Ratio = Cnratau | &nbsp;&nbsp;Categorization of Oxidation Type Based on the AuCN/AuFA Ratio = Cnratau |  |
| Oxide ≥0.7 |  | Transition between 0.3 and 0.7 | Transition between 0.3 and 0.7 | Transition between 0.3 and 0.7 | Transition between 0.3 and 0.7 | Sulfide ≤0.3 |
| &nbsp;&nbsp;Process Cost |  |  |  |  |  |  |
| Process Cost, Partial | Process Cost, Partial |  |  | $8.61 | $8.61 | /ton of feed to float plant |
| Labor |  |  |  | $0.88 | $0.88 | /ton of feed to float plant |
| Maintenance |  |  |  | <u>$0.66</u> | <u>$0.66</u> | <u>/ton of feed to float plant</u> |
| Total Mill Cost for Sulfide and Transition | Total Mill Cost for Sulfide and Transition |  |  | $10.15 | $10.15 | /ton of feed to float plant |
| ROM Leach for Oxide | ROM Leach for Oxide |  |  | $2.75 | $2.75 | &nbsp;&nbsp;/ton of feed to ROM Leach |
| ROM Leach for Sulfide and Transition | ROM Leach for Sulfide and Transition | ROM Leach for Sulfide and Transition |  | $3.15 | $3.15 | &nbsp;&nbsp;/ton of feed to ROM Leach |
| Mine Site G&A |  |  |  | $0.44 | $0.44 | /ton feed, at 57,100 tpd |
| Process Recoveries | Process Recoveries |  |  |  |  |  |
| Flotation Recovery | Flotation Recovery |  |  | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> |
|  | Gold |  |  | 80.0% | 80.0% | &nbsp;&nbsp;of AuFA |
|  | Silver |  |  | 80.0% | 80.0% | &nbsp;&nbsp;of AgFA |
|  | Sulfide |  |  | 80.5% | 80.5% | &nbsp;&nbsp;of (sulfd%) |
|  | Mass Pull |  |  | 14.0% | 14.0% |  |
| Concentrate Leach Recovery | Concentrate Leach Recovery | Concentrate Leach Recovery | Concentrate Leach Recovery | Concentrate Leach Recovery | 95.0% |  |
| Overall Recovery, Mill + Con AAO | Overall Recovery, Mill + Con AAO |  |  | 76% | 76% | &nbsp;&nbsp;of Mill+Conc POX |
| ROM leach Recovery | ROM leach Recovery |  | <u>Oxide</u> | <u>Transition</u> | <u>Transition</u> | <u>Sulfide</u> |
|  | Gold |  | 75.0% | 75.0% | 75.0% | 75.0% |
|  | Silver |  | 12.2% | 12.2% | 12.2% | 12.2% |
| Flotation Concentrate Treatment Costs | Flotation Concentrate Treatment Costs |  |  |  |  |  |
| &nbsp;&nbsp;Mill + ConcPOX | &nbsp;&nbsp;Mill + ConcPOX |  |  | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> |
|  | &nbsp;&nbsp;Sulfide Grade for Illustration | &nbsp;&nbsp;Sulfide Grade for Illustration | &nbsp;&nbsp;Sulfide Grade for Illustration |  | 1.80% |  |
|  | &nbsp;&nbsp;Sulfide Dependent Consumables | &nbsp;&nbsp;Sulfide Dependent Consumables | &nbsp;&nbsp;Sulfide Dependent Consumables |  | $4.24 | &nbsp;&nbsp;=2.3564 x sulfide sulfur |
|  |  |  |  | <u>Au</u> | <u>Au</u> | <u>Ag</u> |
| Con Solution Recovery and Payable | Con Solution Recovery and Payable |  |  | 98.0% | 98.0% | 98.0% |
| Leach Process Payable | Leach Process Payable |  |  | 99.9% | 99.9% | 98.0% |
| Total Process, at Average Sulfide Sulfur | Total Process, at Average Sulfide Sulfur |  |  | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> | &nbsp;&nbsp;&nbsp;&nbsp;<u>Mill+ConcPOX</u> |
| &nbsp;&nbsp;Mill + Conc POX + G&A | &nbsp;&nbsp;Mill + Conc POX + G&A |  |  | $14.83 | $14.83 | &nbsp;&nbsp;/ton ore flotation |
| &nbsp;&nbsp;ROM Leach Cost +G&A (Oxide Only) | &nbsp;&nbsp;ROM Leach Cost +G&A (Oxide Only) |  |  | $3.19 | $3.19 | &nbsp;&nbsp;/ton of ore to ROM Leach |
| ROM Leach Cost+G&A (Transition+Sulfide) | ROM Leach Cost+G&A (Transition+Sulfide) | ROM Leach Cost+G&A (Transition+Sulfide) | ROM Leach Cost+G&A (Transition+Sulfide) |  | $3.59 | &nbsp;&nbsp;/ton of ore to ROM Leach |
| &nbsp;&nbsp;Dore Transport and Refining Cost | &nbsp;&nbsp;Dore Transport and Refining Cost |  |  |  |  |  |
| Gold |  |  |  | $5.00 | $5.00 | &nbsp;&nbsp;/oz |
| Silver |  |  |  | $0.50 | $0.50 | &nbsp;&nbsp;/oz |
| &nbsp;&nbsp;Metal Price Assumptions | &nbsp;&nbsp;Metal Price Assumptions | &nbsp;&nbsp;Internal Cutoff, Gold Equivalent, oz/ton | &nbsp;&nbsp;Internal Cutoff, Gold Equivalent, oz/ton | &nbsp;&nbsp;Internal Cutoff, Gold Equivalent, oz/ton | &nbsp;&nbsp;Internal Cutoff, Gold Equivalent, oz/ton | &nbsp;&nbsp;Internal Cutoff, Gold Equivalent, oz/ton |
| <u>Gold $/oz</u> | <u>Silver $/oz</u> |  | <u>Mill+ConcPOX</u> |  |  | <u>ROM Heap Leach</u> |
| **$1900** | **$24.50** |  | 0.0105 |  |  | &nbsp;&nbsp;$0.0023 oz/ton (AuCN) |
| &nbsp;&nbsp;Gold Equivalent. Equation, Mill | &nbsp;&nbsp;Gold Equivalent. Equation, Mill |  |  | Au+ | Au+ | 0.0127 x Ag |
| &nbsp;&nbsp;Gold Equivalent ROM Leach | &nbsp;&nbsp;Gold Equivalent ROM Leach |  |  | AuCN+ | AuCN+ | 0.0020 x Ag |

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Table 11-15:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineral Resources as of March 2023, Imperial Units

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Approximate<br>Cutoff, AuEq<br>Au oz/ton** | **Ktons** | **Au<br>oz/ton** | **Ag<br>oz/ton** | **Sulfide<br>Sulfur%** | **Au Contained Ounces (000)** | **Ag Contained Ounces (000)** |
| Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource | Heap Leach Resource |
| &nbsp;&nbsp;Measured | 0.002 | 94162 | 0.008 | 0.17 | 2.14 | 753 | 15725 |
| &nbsp;&nbsp;Indicated | 0.002 | 59751 | 0.007 | 0.13 | 1.78 | 436 | 7529 |
| &nbsp;&nbsp;Meas + Ind | 0.002 | 153913 | 0.008 | 0.15 | 2.00 | 1189 | 23254 |
| &nbsp;&nbsp;Inferred | 0.002 | 46118 | 0.007 | 0.14 | 1.62 | 337 | 6549 |
| Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process | Mill, Flotation + Concentrate by POX and Cyanide Leach Process |
| &nbsp;&nbsp;&nbsp;Measured | 0.010 | 402735 | 0.013 | 0.50 | 1.78 | 5236 | 200965 |
| &nbsp;&nbsp;&nbsp;Indicated | 0.010 | 346308 | 0.012 | 0.39 | 1.58 | 4156 | 136445 |
| &nbsp;&nbsp;&nbsp;Meas + Ind | 0.010 | 749043 | 0.013 | 0.45 | 1.69 | 9391 | 337410 |
| &nbsp;&nbsp;&nbsp;Inferred | 0.010 | 249494 | 0.012 | 0.36 | 1.52 | 3019 | 89568 |
| Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant | Combined Mineral Resources Leach Plus Process Plant |
| &nbsp;&nbsp;&nbsp;Measured | 0.002 - 0.010 | 496897 | 0.012 | 0.44 | 1.85 | 5989 | 216690 |
| &nbsp;&nbsp;&nbsp;Indicated | 0.002 - 0.010 | 406059 | 0.011 | 0.35 | 1.61 | 4592 | 143974 |
| &nbsp;&nbsp;&nbsp;Meas + Ind | 0.002 - 0.010 | 902956 | 0.012 | 0.40 | 1.74 | 10581 | 360664 |
| &nbsp;&nbsp;&nbsp;Inferred | 0.002 - 0.010 | 295612 | 0.011 | 0.33 | 1.54 | 3356 | 96117 |
|  |  |  | **Total material in the Pit (Ktons) =** | **Total material in the Pit (Ktons) =** | **Total material in the Pit (Ktons) =** | **Total material in the Pit (Ktons) =** | **3631287** |

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Notes:

Mineral resources based on metal prices of $1,900/troy oz Au and $24.50/troy oz Ag

Cutoffs are income – process cost = NPR = NSR – Process Opex

Numbers may not match exactly due to rounding.

Mineral resources are contained within a computer-generated optimized pit. Total material in that pit is approximately 3.63 billion tons

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

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Table 11-16:&nbsp;&nbsp;&nbsp;&nbsp;Hycroft Mineral Resources as of March 2023, Metric Units

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|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Approximate<br>Cutoff, AuEq<br>Au (g/ton)** | **Ktonnes** | **Au<br>g/tonne** | **Ag<br>g/tonne** | **Sulfide<br>Sulfur %** | **Au Contained<br>Ounces (000)**  | **Ag Contained Ounces (000)** |
| **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 | 0.07 | 85424 | 0.274 | 5.72 | 2.14 | 753 | 15725 |
| Indicated | 0.07 | 54206 | 0.250 | 4.32 | 1.78 | 436 | 7529 |
| Meas + Ind | 0.07 | 139630 | 0.265 | 5.17 | 2.00 | 1189 | 23254 |
| Inferred | 0.07 | 41838 | 0.250 | 4.86 | 1.62 | 337 | 6549 |
| **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** | **Flotation Mill + Concentrate by POX and Cyanide Leach Process Plant** |
| Measured | 0.34 | 365361 | 0.445 | 17.09 | 1.78 | 5236 | 200965 |
| Indicated | 0.34 | 314171 | 0.411 | 13.49 | 1.58 | 4156 | 136445 |
| Meas + Ind | 0.34 | 679532 | 0.429 | 15.43 | 1.69 | 9391 | 337410 |
| Inferred | 0.34 | 226341 | 0.414 | 12.29 | 1.52 | 3019 | 89568 |
| **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** | **Combined Mineral Resources Leach Plus Process Plant** |
| Measured | 0.07 – 0.34 | 450785 | 0.413 | 14.93 | 1.85 | 5989 | 216690 |
| Indicated | 0.07 – 0.34 | 368377 | 0.387 | 12.14 | 1.61 | 4592 | 143974 |
| Meas + Ind | 0.07 – 0.34 | 819162 | 0.401 | 13.68 | 1.74 | 10581 | 360664 |
| Inferred | 0.07 – 0.34 | 268179 | 0.389 | 11.14 | 1.54 | 3356 | 96117 |
|  |  |  |  | Total Material in the Pit, Ktonnes = | Total Material in the Pit, Ktonnes = | Total Material in the Pit, Ktonnes = | 3294304 |

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Notes:

Mineral resources based on metal prices of $1,900/troy oz Au and $24.50/troy oz Ag

Cutoffs are income – process cost = NPR = NSR – Process Opex

Numbers may not match exactly due to rounding.

Mineral resources are contained within a computer-generated optimized pit. Total material in that pit is approximately 3.29 billion tonnes.

All units are metric, Ktonnes means 1,000 metric tons, Au and Ag grades are in grams / metric tonne.

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12&nbsp;&nbsp;&nbsp;&nbsp;MINERAL RESERVE ESTIMATE

This section is not relevant to the TRS.

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13&nbsp;&nbsp;&nbsp;&nbsp;MINING METHODS

This section is not relevant to the TRS.

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14&nbsp;&nbsp;&nbsp;&nbsp;PROCESSING AND RECOVERY METHODS

This section is not relevant to the TRS.

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15&nbsp;&nbsp;&nbsp;&nbsp;INFRASTRUCTURE

This section is not relevant to the TRS.

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16&nbsp;&nbsp;&nbsp;&nbsp;MARKET STUDIES

This section is not relevant to the TRS.

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17&nbsp;&nbsp;&nbsp;&nbsp;ENVIRONMENTAL STUDIES, PERMITTING, AND PLANS, NEGOTIATIONS, OR AGREEMENTS WITH LOCAL INDIVIDUALS OR GROUPS

This section is not relevant to the TRS.

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18&nbsp;&nbsp;&nbsp;&nbsp;CAPITAL AND OPERATING COSTS

This section is not relevant to the TRS.

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19&nbsp;&nbsp;&nbsp;&nbsp;ECONOMIC ANALYSIS

This section is not relevant to the TRS.

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20&nbsp;&nbsp;&nbsp;&nbsp;ADJACENT PROPERTIES

The Rosebud mine is located about 4.7 miles south south-east of the Hycroft 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:&nbsp;&nbsp;&nbsp;&nbsp;Location of Rosebud Property

![imagea.jpg](imagea.jpg)

Source: Hycroft, 2023

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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 feet of left-lateral displacement and about 400 feet 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 feet high, 18 feet wide and about 80 feet 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 property is currently held by Rosebud Exploration, LLC. a private entity.

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.

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21&nbsp;&nbsp;&nbsp;&nbsp;OTHER RELEVANT DATA AND INFORMATION

This section is not relevant to the TRS.

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22&nbsp;&nbsp;&nbsp;&nbsp;INTERPRETATIONS AND CONCLUSIONS

22.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction

The purpose of this initial assessment is to disclose the latest update of mineral resource estimate as it is Hycroft's intent to further develop their sulfide mineral resource.

22.2&nbsp;&nbsp;&nbsp;&nbsp;Geology and Mineralization

The Hycroft Mine is located on the western flank of the Kamma Mountains in the Basin and Range physiographic province of northwestern Nevada. The Kamma Mountain Range 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.

The Hycroft deposit is a low-sulfidation, epithermal, hot springs system that contains gold and silver mineralization formed approximately 4.0 million years ago (Ebert, 1996) 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 approximately 0.4 to 2.0 million years ago by an intense event of high sulfidation acid leaching of the mineralized volcanic rocks coincident with a drop in the regional water table which allowed steam heated sulfur gases to condense into sulfuric acid and leach the upper portion of the mineralized rocks.

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

The deposit is typically broken into six major zones based on geology, mineralization, and alteration. These include Brimstone, Vortex, Central, Bay, Boneyard, and Camel Hill. The boundaries are typically the major faults, namely Break, East and Ramp.

22.3&nbsp;&nbsp;&nbsp;&nbsp;History

Mining in the Sulfur District, where the Mine is located, began in the late 1800s for native sulfur, then for high-grade Ag. Mining for Au and Ag officially began as a small heap leach operation in 1983 at the Lewis Mine followed by mining at the Crofoot Mine. Hycroft gained control of the property and drilled 3,212 exploration holes, totaling 965,552 ft, between 1985 and 1999 with the bulk of this drilling focused on oxide Au mineralization at Central, Bay and Brimstone.

During 1983 to 1998, the Mine produced approximately 1.2 Moz of Au and 2.5 Moz of Ag from its heap leach operation of oxide ore, with little to no focus on the sulfide mineralized materials. An additional 58,700 oz of Au was produced from the leaching operations from 1999 through 2004. In September 2007, Hycroft initiated the construction of a 21,000 gpm North Merrill-Crowe processing plant, a three-stage crushing facility, and the expansion of the North Heap Leach pad. In April 2019, active mining began with a focus on transition and sulfide mineralized materials, however only heap leach of oxide ore was processed during this time with production of Au and Ag continuing through until 2021. To date, the Mine's heap leach operations from 2007 through 2021 have totaled approximately 1M oz of Au and over 5.0 M oz of Ag and processing of sulfide mineralized materials is still under development.

22.4&nbsp;&nbsp;&nbsp;&nbsp;Exploration and Drilling

For this study, IMC developed the Hycroft exploration model which includes data from 1981 to 2018 and includes 5,601 holes, representing 2,588,826 ft of drilling. At this time, there are 5,323 drillholes in the resource model area of which 188 have been drilled to define stockpiles or leach pad. In addition to drilling, Hycroft has conducted additional geophysical surveys, soil and rock chip sampling programs, field mapping, historical data compilation, and regional

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reconnaissance at the Mine site. Further work in 2022 included a hyperspectral imaging flyover. Both LWIR and SWIR imaging was collected with the intent of helping identify key minerals on the surface to focus reconnaissance mapping and soils programs. These efforts were designed to improve the understanding of the known mineralization, as well as provide data for further exploration of the greater property position.

The drilling data at Hycroft pre-2000 has no historical quality assurance and quality control (QA/QC) information to support it. The post-2005 drilling data (no drilling in 2000 to 2004) has QA/QC information that is sufficient but not best practice. Hycroft has a history where Au fire assays collected prior to 2000 were factored upward in order to better correlate with blast hole assay results pre-2000. That factor process has been removed from the database for application to this mineral resource. With this correction, IMC has accepted the database for determination of the Mine's mineral resources.

22.5&nbsp;&nbsp;&nbsp;&nbsp;Metallurgical Testing

Previous Hycroft metallurgical test programs conducted on the Hycroft deposit consisted of a series of comminution, flotation, concentrate oxidation, and cyanide leaching tests on mineralized materials, flotation tailing, and oxidized sulfide concentrate. Samples for metallurgical testwork were mostly derived from drilled core samples selected to represent the mineral deposit and taken from the five main mineralization domains.

Comminution testwork demonstrate the Hycroft rock mineralization exhibits very high rock competency both in the SAG and ball mills with an 80th percentile for JKSimMet Axb parameters and Bond ball millwork indices around 20 kWh/t.

Initial flotation testwork including bench-scale and pilot plant tests were performed by SGS in March of 2009 and continued at several other laboratories until April 2014. The flotation testwork can be summarized as follows:

&nbsp;&nbsp;&nbsp;&nbsp;The general trend indicated that flotation could achieve better recoveries with particle size (P80) ranging from 100 to 150 microns, but tended to decrease with grinds finer than 100 microns or coarser than 150 microns;

&nbsp;&nbsp;&nbsp;&nbsp;Tests with NaHS did not improve recoveries;

&nbsp;&nbsp;&nbsp;&nbsp;Flotation tests performed at neutral pH, in general, outperformed tests conducted at alkaline pH;

&nbsp;&nbsp;&nbsp;&nbsp;Strong non-selective sulfide collectors, particularly PAX at 0.21 to 0.55 lb/ton showed better recoveries;

&nbsp;&nbsp;&nbsp;&nbsp;Several tests indicate Cytec's AEROPHINE 3418A Promoter (sodium diisobutyldithiophosphinate) may improve Au and Ag recovery;

&nbsp;&nbsp;&nbsp;&nbsp;Variability flotation tests conducted by G&T [G&T Metallurgical Services, 2011] yielded an average mass pull of 13.8%; and

&nbsp;&nbsp;&nbsp;&nbsp;The same set of tests indicated a flotation time of 19 minutes for gold and 17 minutes for silver to achieve target recoveries.

Oxidation testwork on Hycroft concentrates from the aforementioned flotation testwork included POX, roasting, ambient pressure alkaline oxidation and other oxidation methods including chlorination, fine grinding with intense cyanidation, and the Albion process. The following is a summary of the results of the predominant testwork studies conducted:

&nbsp;&nbsp;&nbsp;&nbsp;Results from acid POX testwork on rougher concentrate showed percent Au and Ag recoveries in the mid-90s and 80s, respectively under the following autoclave operating conditions: temperatures between 374°F to 437°F; 100 psi oxygen overpressure; and 60 minutes residence time provided the POX discharge material was lime boiled prior to cyanide leaching. Test work from alkaline POX was limited in scope to 10 total samples and showed similar percent recoveries for gold but silver recoveries were lower in the 65 to 70 % range.

&nbsp;&nbsp;&nbsp;&nbsp;Roaster testwork was conducted on the Brimstone concentrate from a pilot plant to determine optimum conditions for processing. The results indicate that optimum roast temperatures are between 797°F and 842°F. During the tests, average recoveries of 89% Au and 74% Ag were achievable by varying the leach and roast conditions slightly for the majority of the concentrate produced.

&nbsp;&nbsp;&nbsp;&nbsp;Early batch testwork results were positive and indicated that Hycroft concentrates were amenable to oxidation under atmospheric conditions, using trona to create the appropriate alkaline environment to promote oxidation. Continuous pilot plant testing on Hycroft's three main domains conducted by Hazen confirmed the findings of the batch tests. Pilot plant tests were run using 600 lb of trona per ton of concentrate, at 167°F, 25-micron grind size, 20% solids and 48 hours total residence time. Different material types oxidized at varying rates, with Vortex materials oxidizing the fastest followed by Central and then Brimstone. The Master Composite oxidation rate was comparable to Brimstone. At 60% sulfide oxidation, 85% Au and 80-84% Ag recoveries were achievable by atmospheric oxidation for all material types tested.

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&nbsp;&nbsp;&nbsp;&nbsp;In 2016, the viability of the AAO process using trona was demonstrated in a 10-ton-per-day integrated pilot plant at the mine site. This plant included primary grinding of 3/8-inch material, followed by flotation, atmospheric oxidation, cyanide leaching, CCD, and precipitation. The results of the on-site demonstration plant were highly variable. Gold recoveries peaked at 80% and silver recoveries were high at 90% for the Brimstone materials tested, but these recoveries were not consistent over time.

22.6&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resources

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 two processes identified were:

&nbsp;&nbsp;&nbsp;&nbsp;ROM cyanide heap leaching of oxide ore; and

&nbsp;&nbsp;&nbsp;&nbsp;Milling, Flotation, POX followed by Cyanide Leach and Merrill-Crowe.

Mineral resources were based on metal prices of $1,900/troy oz Au and $24.50/troy oz Ag. Mineral resources were contained within a computer-generated optimized pit. Total material in that pit is 3.63 billion tons.

22.7&nbsp;&nbsp;&nbsp;&nbsp;Risks

22.7.1&nbsp;&nbsp;&nbsp;&nbsp;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.

22.7.2&nbsp;&nbsp;&nbsp;&nbsp;Mineral Processing

Hycroft has been operating the run-of-mine heap leach facility, to produce gold and silver since 2008. The cumulative performance statistics and metallurgical test data gathered are extensive and strongly support the current heap leach recovery assumptions for oxide mineralized materials.

The process method for processing sulfide mineralized materials by using flotation followed by an oxidative treatment of the concentrates showed that the process method worked well from previous test work.

The process operating cost assumed for this report has some risks that could impact economics and these need to be managed and mitigated by additional studies.

The process plant reagent unit costs can change quite quickly depending on various factors which result in the higher or lower process operating cost estimate.

The reagent unit price change is in response to increases in raw material and energy costs that are being driven by the continued inflationary environment in many industries, particularly commodity materials.

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23&nbsp;&nbsp;&nbsp;&nbsp;RECOMMENDATIONS

23.1&nbsp;&nbsp;&nbsp;&nbsp;Introduction

The QPs preparing this report recommend Hycroft proceed with an initial assessment or pre-feasibility study which includes an economic analysis, to move the property forward toward the development of a process plant to treat sulfide mineralized materials. The budget for the recommended work program is outlined in Table 23-1.

Table 23-1:&nbsp;&nbsp;&nbsp;&nbsp;Recommended Work Program

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| **Description** | **Cost $US** |
| **Phase 1:** | **Phase 1:** |
| Variability Study | $100000 |
| POx Benchtop Study | $50000 |
| **TOTAL** | **$150000** |

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23.2&nbsp;&nbsp;&nbsp;&nbsp;Proposed Exploration Program

IMC recommends Hycroft update and improve the interpretation of the fault boundaries and drill target areas within the mine area that are not well-defined. IMC also recommends continued diligence in clean-up of the drilling data base as time and budgets allow.

23.3&nbsp;&nbsp;&nbsp;&nbsp;Proposed Metallurgical Studies

The Ausenco QPs are recommend that Hycroft complete testwork focused on optimizing grind size, mass pull percentage, flotation reagent suite, POX, equipment sizing, residence times, lime/limestone and oxygen consumption. Previous metallurgical testing with rougher concentrate demonstrated that the refractory Hycroft mineralized materials were amenable to POX followed by lime boil to prevent silver jarosite formation in the autoclaves. Completion of process engineering, base line and background studies to include process facility layouts, open-pit designs and infrastructure evaluations as well as additional studies are recommended, including additional drilling to convert mineral resources to mineral reserves.

Hycroft has already initiated additional testwork on comminution flotation, POX, leaching, solids/liquid separation, and Merrill-Crowe processes of their sulfide mineralized materials. Results from these tests should allow Hycroft to:

&nbsp;&nbsp;&nbsp;&nbsp;Complete metallurgical variability testing on a broad range of samples from a broad range of locations within the deposit, covering all significant mineralized material types and all grade ranges. In order of priority this should focus on the first five years of production (at least 100 samples), production years 6-10 (at least 50 samples), and beyond production year 10 (at least 50 samples). The variability testing will include but is not limited to the following: material characterization, comminution testing, flotation testing, and direct cyanide leach testing.

&nbsp;&nbsp;&nbsp;&nbsp;Optimize flotation reagent suite in flotation circuit to reduce operating costs.

&nbsp;&nbsp;&nbsp;&nbsp;Investigate POX discharge solution neutralization chemistry and limestone/lime consumption.

&nbsp;&nbsp;&nbsp;&nbsp;Optimize mass pull percentage. The level of sulfide grade in the concentrate is suspected to have enough energy to drive reactions in an autoclave. This information is needed to understand if pre-heating is required ahead of pressure oxidation.

&nbsp;&nbsp;&nbsp;&nbsp;Optimize cyanide addition and understand cyanide consumption in leach circuit and levels of free/WAD cyanide post leach.

Variability testwork is progressing, and work on this will continue through 2023.

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24&nbsp;&nbsp;&nbsp;&nbsp;REFERENCES

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.

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., February 2011, POX-CIL Evaluation of Hycroft Flotation Concentrates, Hazen Project 11232 Report and Appendices A-F.

Hazen Research Inc., May 2011, Evaluation of Hycroft Blend Flotation Concentrate, Hazen Project 11243-01 Report and Appendix.

Hazen Research Inc., June 2011, Evaluation of Kappes, Cassiday & Associates Flotation Concentrate, Hazen Project 11307 Report and Appendix.

Hazen Research Inc., February 2014, Atmospheric Alkaline Oxidation Pre-treatment Pilot Plant of Hycroft Flotation Concentrates, Hazen Project 11859

Hycroft Property Page 119 <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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Hazen Research Inc., February 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. April 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. NI43-101Technical 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., 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.

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

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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.

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., May 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

Wildlife Resource Consultants, LLC (WRC). 2017. Hycroft Mine 2017 Raptor Nesting Surveys and Auen Eagle Monitoring Report. Unpublished. Prepared for EM Strategies. Cedarville, California. September 20, 2017.

Wilson, S. E., 2008, Technical Report - Allied Nevada Gold Corp., Hycroft Mine, Winnemucca, Nevada, USA.

Wilson, S.E., 2011, Technical Report – Allied Nevada Gold Corp, Hycroft Mine, Hycroft Mine, Winnemucca, Nevada, USA, March 31, 2011

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25&nbsp;&nbsp;&nbsp;&nbsp;RELIANCE ON INFORMATION PROVIDED BY THE REGISTRANT

Table 25-1 provides a detailed list of information provided by Hycroft (Registrant) for matters discussed in this Technical Report Summary.

Table 25-1:&nbsp;&nbsp;&nbsp;&nbsp;Information Provided by Hycroft

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| | | |
|:---|:---|:---|
| **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. |

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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 Qualified Persons.

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Appendix A – Hycroft Patented Claims

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| | | |
|:---|:---|:---|
| **Claim Name** | **Patent No.** | **Mineral Survey No.** |
| Admission Placer | 908431 | 4355 |
| Black Rock (portion) | 1064817 | 4688A |
| Black Rock (portion) | 1064817 | 4688A |
| Brime Stone Placer<br>aka Brimstone Placer | 1001727 | 4600 |
| Cold Sulphur Placer | 83151 | 3225 |
| Green Rock Placer (portion)<br>aka Green Rock No. 1 | 1223182 | 4839<br>4857 |
| Green Rock Placer (portion)<br>aka Green Rock No. 2 | 1223182 | 4839<br>4857 |
| Green Rock Placer (portion)<br>aka Green Rock No. 3 | 1223182 | 4839<br>4857 |
| Green Rock Placer (portion)<br>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<br>aka Sheol 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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Appendix B – Hycroft Unpatented Claims

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| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| HRDI 230 | 4/15/2014 | Hycroft Res & Dev Inc | NMC1102188 | Humboldt |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|:---|:---|:---|
| 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 |
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|:---|:---|:---|
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NFG 25 | 10/10/2006 | Hycroft Res & Dev Inc | NMC939530 | Humboldt |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| NH 191 | 5/02/2008 | Hycroft Res & Dev Inc | NMC990344 | Humboldt |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| NH 43 | 5/04/2008 | Hycroft Res & Dev Inc | NMC990196 | Humboldt |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| RFG #206 | 1/30/1980 | Hrdi | NMC143385 | Humboldt |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| RFGM 182 | 6/18/2009 | Hycroft Res & Dev Inc | NMC1008699 | Humboldt |
| 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 |

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Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| SH 43 | 4/06/2008 | Hycroft Res & Dev Inc | NMC990696 | Humboldt |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| HRDI 194 | 4/10/2014 | Hycroft Res & Dev Inc | NMC1102152 | Pershing |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| NC 255 | 8/13/2010 | Hycroft Res & Dev Inc | NMC1028093 | Pershing |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| FG 158 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 939209 | Pershing |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| FG 397 | 9/10/2006 | Hycroft Res & Dev Inc | NMC 939402 | Pershing |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| RFG #225A | 1/7/1980 | Lewis Frank W | NMC 141750 | Pershing |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| SH 358 | 4/21/2008 | Hycroft Res & Dev Inc | NMC 991010 | Pershing |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| WCX 6 | 9/8/2006 | Hycroft Res & Dev Inc | NMC 941258 | Pershing |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

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| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

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| | | | | |
|:---|:---|:---|:---|:---|
| 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 |
| 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 |

---

Hycroft Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

------

---

| | |
|:---|:---|
| ![image_58.jpg](image_58.jpg) | ![image_32.jpg](image_32.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 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 Property Appendices <br> <u>Initial Assessment Technical Report Summary</u> <u>March 27, 2023</u>

<br>