Hemlo Mining Corp. Announces Commencement of Trading on the TSXV at Market-Open on Tuesday, December 2, 2025

Executive Summary

• Hemlo Mining Corp. (formerly Carcetti Capital Corp.) announces the completion of its acquisition of the Hemlo Gold Mine from Barrick Mining Corporation and the subsequent amalgamation and share consolidation.
• Common shares will commence trading on the TSX Venture Exchange under the new symbol "HMMC" on December 2, 2025.
• The company has completed a share consolidation on a 2/3 basis, resulting in approximately 295.5 million post-consolidation shares outstanding.

Key Details

• Transaction Completion: The acquisition of the Hemlo Gold Mine from Barrick Mining Corporation closed on November 26, 2025.
• Transaction Value: The aggregate consideration for the Hemlo Gold Mine acquisition was approximately US$1.1 billion.
• Corporate Restructuring:
  • Amalgamation: Carcetti Capital Corp. amalgamated with a wholly-owned subsidiary and continued as "Hemlo Mining Corp." on November 27, 2025.
  • Share Consolidation: Completed on a basis of two-thirds (2/3) of a new common share for every one pre-consolidation share.
  • TSXV Approval: The TSXV published final approval of the Transaction in its Bulletin on November 28, 2025.
• Share Capital:
  • Post-Consolidation Outstanding Shares: 295,496,920 HMC Shares.
  • Fully-Diluted Shares: 307,593,617 HMC Shares.
  • Hold Period: HMC Shares are not subject to a hold period under Canadian securities laws.
• Trading Update:
  • New Symbol: HMMC.
  • Trading Start Date: Tuesday, December 2, 2025.
  • Opening Bell: Scheduled for 9:25 a.m. ET at the TSX Venture Exchange in Toronto.
• Asset Profile: The Hemlo Gold Mine is located 35 kilometers east of Marathon, Ontario, and has produced approximately 25 million ounces of gold since 1985.

Notable Quotes

• "The Hemlo acquisition has launched our Company as a new, mid-tier Canadian gold producer, bringing meaningful gold production supported by an experienced management team and a well-funded operation," said Jason Kosec, President and CEO of Hemlo Mining Corp. "The commencement of trading on the TSXV marks an important next step for our Company."