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HYCROFT HYCROFT PROVIDES 2021 SECOND QUARTER OPERATING AND FINANCIAL RESULTS Hycroft Mining Holding Corp. 8181 East Tufts Ave , Suite 510 Denver , CO 80237 Tel : 303.253.3267 NEWS RELEASE DENVER , CO , August 4 , 2021 - Hycroft Mining Holding Corporation ( Nasdaq : HYMC ) ( " Hycroft " or the " Company " ) , a gold and silver producer operating the Hycroft Mine in the prolific mining region of Northern Nevada , today provided financial and operating results for the second quarter of 2021 . Q2 Highlights • Production in the second quarter of 2021 of 16,776 ounces of gold and 139,351 ounces of silver represented a 212 % and 338 % increase in ounces produced , respectively , compared with the corresponding quarter in 2020 . • Sales in the second quarter of 2021 were 17,060 ounces of gold ( average realized price of $ 1,811 per ounce ) and 189,766 ounces of silver ( average realized price of $ 26.88 per ounce ) , contributing to a $ 28.4 million increase in revenue compared with second quarter of 2020 . • Continued improvements in safety performance with a 0.62 trailing 12 - month total reportable incident frequency rate ( " TRIFR " ) at the end of the second quarter of 2021 compared to 3.80 at the end of 2020 , an approximate 84 % reduction . • • Significant improvements in unit costs over the last six months with a reduction in mining cost per ton and processing cost per ton . Metallurgical drilling continued through the second quarter of 2021 with 31 holes drilled to date totaling 30,929 feet . This drill program , as previously disclosed , is to complete the necessary variability and metallurgical work on geologic domains that were not tested in the past but that represent a significant portion of the life - of - mine production . • Column tests are being performed on sulfide material mined in the first half of 2021. These column tests use sulfide material that has recently been extracted from key domains and will provide additional information for the two - stage sulfide heap oxidation and leach process . • • • The technical team , together with independent engineering firms and consultants , has completed scoping level economic analyses on multiple processing options . Based on these scoping studies , we engaged Ausenco Engineering USA South Inc. ( " Ausenco " ) to complete a feasibility study building on previous Atmospheric Alkaline Oxidation ( " AAO " ) feasibility and pilot plant results , expected to be completed in Q1 2022 . In addition , we have requested bids from other engineering firms to complete a pre - feasibility study on the pressure oxidation ( " POX ” ) process as we continue to evaluate processing options for optimizing value , with an anticipated delivery to coordinate with the AAO feasibility study . The result of the programs and analyses will determine the method and timeline of bringing the sulfides into commercial scale operation and our run - of - mine ( " ROM " ) plan , which is expected to facilitate access to commercial scale sulfides , will be developed to coincide with that schedule . During the quarter ended June 30 , 2021 , the Company reduced restricted cash by approximately $ 4.8 million by replacing most of its surety bonds with surety bonds that require lower cash collateral . www.hycroftmining.com