Hemlo Mining Corp. Reports First Quarter 2026 Financial and Operating Results

News provided by Hemlo Mining Corp. May 20, 2026, 18:01 ET Share this article Share to X Share this article Share to X TORONTO , May 20, 2026 /PRNewswire/ - Hemlo Mining Corp. (TSXV: HMMC) (OTCQX: HMMCF ) (" Hemlo Mining " or the " Company ") is pleased to announce its financial and operating results for the first quarter ended March 31, 2026. The Company will host a conference call to discuss first quarter 2026 results on Thursday, May 21, 2026 at 9:00 AM Eastern Time. (All amounts expressed in U.S. dollars unless otherwise stated) Jason Kosec, President, CEO & Director of Hemlo Mining, commented: "Q1 was transformational for the Company, delivering our first full quarter as owner-operator of the Hemlo Gold Mine and establishing the operational platform for the year ahead. We delivered attributable gold 1 production of 29,699 ounces, generating $186.3 million in revenue and net income of $22.1 million, or $0.07 per share.

During the quarter, we completed the transition to an owner-operated model ahead of schedule, strengthened our executive and site teams, launched our 130,000-metre exploration drilling program, deployed $20.1 million across sustaining and growth capital 2 , executed a strategic royalty buyback, and fully repaid our Revolving Credit Facility. The scope and momentum of execution across the Company reinforce our conviction in the long-term value we are building at Hemlo." First Quarter Highlights: Financial Highlights Revenue for the three months ended March 31, 2026 was $186.3 million mainly from 38,685 gold ounces sold at an average realized price 2 of $4,923 per ounce. Net income for the three months ended March 31, 2026 was $22.1 million, or $0.07 per share, primarily due to gross profit of $73.2 million (calculated as revenue of $186.3 million less cost of sales of $113.1 million), partially offset by income tax expense of $23.6 million, net finance costs of $1