Hycroft Mining Holding Corporation announced additional results from Phase 1 of its 2022-2023 exploration drill program. Core drilling results are still pending. These drilling results and previously reported drilling results are achieving the objectives of the 2022-2023 exploration drill program.

The drill program is designed to improve the understanding of the higher-grade intercepts, better understand the mineralization controls, and test exploration targets outside the currently known resource. Through this work the Company hopes to develop opportunities to mine higher-grade ore early in the mine plan enhancing the project's economics. H22R-5700 (Vortex) returned 55 meters of 0.88 g/t gold and 396.93 g/t silver.

Including 9 meters of 1.25 g/t gold and 1,085.83 g/t silver. H22R-5700 (Vortex) also returned 20 meters of 2.24 g/t gold and 41.77 g/t silver. Including 2 meters of 10.94 g/t gold and 18.00 g/t silver.

Including 11 meters of 2.36 g/t gold and 46.13 g/t silver. H22R-5700 (Vortex) also returned 8 meters of 0.29 g/t gold and 145.08 g/t silver. H22R-5679 (Brimstone) returned 29 meters of 0.979 g/t gold and 3.62 g/t silver.

Including 12.2 meters of 1.824 g/t gold and 5.43 g/t silver. H22R-5679 (Brimstone) also returned 12.2 meters of 0.787 g/t gold and 1.98 g/t silver. H22R-5724 (Camel) returned 212 meters of 0.45 g/t gold and 8.94 g/t silver.

Including 9 meters of 0.71 g/t gold and 42.57 g/t silver. Including 24 meters of 0.68 g/t gold and 8.18 g/t silver. The 2022 – 2023 exploration drill program at the Hycroft Mine comprises approximately 30,000 meters of RC drilling and approximately 7,500 meters of core drilling.

Phase 1 drilling was completed in December 2022 with remaining assay results expected by the end of February 2023. The Company anticipates receiving the new drill rigs and initiating Phase 2 drilling early in the second quarter of 2023. The RC drilling and core drilling were conducted by National EWP Inc. of Elko, NV.

Assays are being completed by Bureau Veritas and Paragon Geochemical of Reno, NV. The Company's Qualified Person is Alex Davidson, Vice President, Exploration.