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 commencement of trading on the TSX Venture Exchange under the new symbol "HMMC" on December 2, 2025, following the completion of its acquisition of the Hemlo Gold Mine from Barrick Mining Corporation.
• The company completed the amalgamation of Carcetti Capital Corp. with a wholly-owned subsidiary and executed a share consolidation (2/3 new share for every 1 pre-consolidation share) to finalize the corporate restructuring associated with the transaction.
• The acquisition, valued at approximately US$1.1 billion, positions Hemlo Mining as a mid-tier Canadian gold producer, leveraging the Hemlo Gold Mine's existing infrastructure and production history.

Key Details

• Trading Update: Common shares will begin trading on the TSXV on Tuesday, December 2, 2025, under the symbol "HMMC".
• Opening Bell Ceremony: The company will ring the opening bell at the TSX Venture Exchange on December 2, 2025, at 9:25 a.m. ET at the TMX Market Centre in Toronto.
• Transaction Details:
  • Acquirer: Hemlo Mining Corp. (formerly Carcetti Capital Corp.).
  • Target: Hemlo Gold Mine (located 35 km east of Marathon, Ontario).
  • Seller: Certain wholly-owned subsidiaries of Barrick Mining Corporation.
  • Consideration: Aggregate consideration of approximately US$1.1 billion.
  • Completion Date: The acquisition was completed on November 26, 2025.
• 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.
  • Share Count: On a post-consolidation basis, there are 295,496,920 HMC Shares outstanding (307,593,617 on a fully-diluted basis).
  • Hold Period: HMC Shares are not subject to a hold period under Canadian securities laws.
• Asset Profile: The Hemlo Gold Mine has produced approximately 25 million ounces of gold since production began in 1985, utilizing both underground and open pit operations.
• Strategic Goal: The company aims to establish itself as a leading Canadian mid-tier growth-focused gold producer, focusing on maximizing existing infrastructure value and unlocking new opportunities through aggressive brownfields exploration.

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."