# Hemlo Mining Corp. Reports Second Quarter 2026 Financial and Operating Results

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91

Original source: https://money.tmx.com/en/quote/HMMC/news/5235386456563709/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results

Publisher: tmx

Original announcement: 2026-08-11T22:18:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Hemlo Mining Corp.

- Ticker: HMMC

- Exchange: TSX

- Region: Ontario

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update, Production, Metallurgy

- Extracted: 2026-09-12 06:33:47 UTC

Narrative sentiment: 0.20 · Bullish

## Minestarters Atlas summary

Hemlo Mining Corp. reported its Q2 2026 financial and operating results, with attributable gold production of 25,188 ounces and net income of $31.0 million. Production was impacted by planned operational sequencing and a crusher rebuild, leading to lower average mill feed grades and increased AISC compared to Q1. The company also announced an updated Mineral Resource Estimate, showing a 34% increase in Measured and Indicated gold resources to 4.8 million ounces, alongside improved underlying operational metrics and strong safety performance.

Reasoning: Hemlo Mining Corp. reported mixed Q2 operating results with lower production and grades due to planned operational changes, but highlighted a significant 34% growth in Measured & Indicated Mineral Resources and improved underlying operational metrics, positioning the company for future performance.

- Positive factor: Significant 34% increase in Measured & Indicated Mineral Resources, adding 1.2 million ounces of gold.

- Positive factor: Strong safety performance with three consecutive years without a lost-time injury.

- Positive factor: Improved underlying operational metrics including 42% increase in development metres and 65% increase in longhole production drilling.

- Positive factor: Net debt significantly reduced from $93.0 million to $19.8 million.

- Positive factor: Graduation to the Toronto Stock Exchange \(TSX\).

- Negative factor: Q2 attributable gold production decreased by 4,511 ounces compared to Q1 2026.

- Negative factor: Average mill feed grade decreased in Q2 due to planned sequencing changes and a crusher rebuild.

- Negative factor: Attributable All-in Sustaining Costs \(AISC\) increased to $2,561/oz in Q2 from $1,805/oz in Q1.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 20

## Classification and evidence

**High Recovery**

Polarity: positive

Story-specific tag

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: The reported gold recovery of 94.3% for Q2 2026 and 95.0% for H1 2026 are well above the exceptional band for gold mill processing \(95%\).

Evidence · table

> 94.3

Context: 344

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: The updated MRE demonstrates a 34% increase in Measured & Indicated Mineral Resources, adding 1.2 million ounces of gold.

Evidence · text

> Announced an updated Mineral Resource Estimate \("MRE"\) demonstrating a 34% increase from the 2025 National Instrument 43-101, Standards of Disclosure for Mineral Projects \("NI 43-101"\) Technical Report \(the "2025 Report"\), adding 1.2 million ounces of gold, in Measured and Indicated \("M&I"\) Mineral Resources \(100% basis\).

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Mr. Brian Hartman \(P. Geo.\) of SLR Consulting \(Canada\) Ltd. is named as the independent Qualified Person responsible for the mineral resource estimate.

Evidence · text

> The qualified person \("QP"\) responsible for this Mineral Resource Estimate is Mr. Brian Hartman \(P. Geo.\) of SLR Consulting \(Canada\) Ltd.

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The MRE notes explicitly state the cut-off grades: 0.28 g/t for Open Pit Mineral Resources and 1.8 g/t for Underground Mineral Resources.

Evidence · text

> Open Pit Mineral Resources are reported using a gold cut-off grade of 0.28 g/t. Underground Mineral Resources are reported on a diluted basis using a gold cut-off grade of 1.8 g/t.

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The MRE is explicitly stated to be compliant with National Instrument 43-101.

Evidence · text

> Announced an updated Mineral Resource Estimate \("MRE"\) demonstrating a 34% increase from the 2025 National Instrument 43-101, Standards of Disclosure for Mineral Projects \("NI 43-101"\) Technical Report

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: The MRE includes Measured Resources for both underground and total attributable categories, indicating the highest level of confidence.

Evidence · table

> Measured

Context: Total Underground

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The MRE includes substantial Indicated Resources across all categories \(Open Pit, Underground, Total, Attributable\), indicating reasonable geological confidence.

Evidence · table

> Indicated

Context: Total Underground

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The MRE includes Inferred Resources across all categories, representing speculative potential.

Evidence · table

> Inferred

Context: Total Underground

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document announces an 'updated Mineral Resource Estimate' for the Hemlo Mine.

Evidence · text

> Announced an updated Mineral Resource Estimate \("MRE"\) demonstrating a 34% increase from the 2025 National Instrument 43-101

**Owner-Operator Transition**

Polarity: neutral

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The second quarter of 2026 marked Hemlo's first full quarter operating as an owner-operator, representing a significant operational model change.

Evidence · text

> The second quarter of 2026 marked Hemlo's first full quarter operating as an owner-operator, representing the first time the Hemlo Mine has operated under this model since 2019.

**Gravity Route**

Polarity: neutral

Definition: Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route \("gravity"\)

## Extracted facts

Stored fact records: 18. Some facts used in scoring do not have a stored record.

## Resource Estimates (17)

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-3)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:434afcfade833a0a402f
- Deposit or zone: Open Pit

#### Resource Data

- Category: indicated
- Tonnes: 71923000
- Grade: 0.87
- Grade Unit: g/t
- Contained Metal: 2009
- Contained Unit: koz au
- Cutoff Grade: 0.28
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a substantial Indicated Mineral Resource for the Open Pit, contributing to the overall increase in the company's M&I gold resources.

- Positive factor: Significant indicated resource tonnage and contained gold ounces for open pit mining.

- Positive factor: Part of an overall 34% increase in M&I resources.

Evidence · table

> 71,923

Context: 0

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-4)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:93f0cd25dd66941c077d
- Deposit or zone: Open Pit

#### Resource Data

- Category: inferred
- Tonnes: 3988000
- Grade: 0.57
- Grade Unit: g/t
- Contained Metal: 73
- Contained Unit: koz au
- Cutoff Grade: 0.28
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes Inferred Mineral Resources for the Open Pit, contributing to the project's overall potential.

- Positive factor: Adds to the overall resource base for open pit mining.

Evidence · table

> 3,988

Context: 71,923

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-5)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:28e0445e7bb0974c709f
- Deposit or zone: Underground \(ex. Interlake\)

#### Resource Data

- Category: measured
- Tonnes: 5095000
- Grade: 3.4
- Grade Unit: g/t
- Contained Metal: 557
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes a significant Measured Mineral Resource for the underground operations \(excluding Interlake\), indicating high confidence in this portion of the deposit.

- Positive factor: High confidence Measured Resource for underground operations.

- Positive factor: Contributes to a 40% increase in underground M&I resources.

Evidence · table

> 5,095

Context: 0

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-6)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:a59fdd4a343c569e5858
- Deposit or zone: Underground \(ex. Interlake\)

#### Resource Data

- Category: indicated
- Tonnes: 13676000
- Grade: 3.42
- Grade Unit: g/t
- Contained Metal: 1502
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a significant Indicated Mineral Resource for the underground operations \(excluding Interlake\), enhancing the overall resource base.

- Positive factor: Substantial Indicated Resource for underground operations, providing a strong base for future planning.

- Positive factor: Contributes to a 40% increase in underground M&I resources.

Evidence · table

> 13,676

Context: 5,095

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-7)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:0dc50af6b6af5115d3a7
- Deposit or zone: Underground \(ex. Interlake\)

#### Resource Data

- Category: inferred
- Tonnes: 5810000
- Grade: 2.81
- Grade Unit: g/t
- Contained Metal: 525
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes Inferred Mineral Resources for the underground operations \(excluding Interlake\), contributing to the project's long-term potential.

- Positive factor: Adds to the overall underground resource potential.

Evidence · table

> 5,810

Context: 13,676

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-8)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:82badedcd88d8e7fe782
- Deposit or zone: Interlake Claims

#### Resource Data

- Category: measured
- Tonnes: 2085000
- Grade: 4.1
- Grade Unit: g/t
- Contained Metal: 275
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes a high-grade Measured Mineral Resource for the Interlake Claims, providing a high-confidence component to the underground resource.

- Positive factor: High-grade Measured Resource for Interlake Claims, indicating strong confidence.

- Positive factor: Contributes to a 40% increase in underground M&I resources.

Evidence · table

> 2,085

Context: 0

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-9)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:49d42e1433bd596bdc1e
- Deposit or zone: Interlake Claims

#### Resource Data

- Category: indicated
- Tonnes: 4087000
- Grade: 3.8
- Grade Unit: g/t
- Contained Metal: 499
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a high-grade Indicated Mineral Resource for the Interlake Claims, adding significant value to the underground resource.

- Positive factor: High-grade Indicated Resource for Interlake Claims, enhancing the overall resource base.

- Positive factor: Contributes to a 40% increase in underground M&I resources.

Evidence · table

> 4,087

Context: 2,085

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-10)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:add2d3489b7a50889bd8
- Deposit or zone: Interlake Claims

#### Resource Data

- Category: inferred
- Tonnes: 2330000
- Grade: 3.58
- Grade Unit: g/t
- Contained Metal: 268
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes Inferred Mineral Resources for the Interlake Claims, contributing to the project's long-term potential.

- Positive factor: Adds to the overall underground resource potential for Interlake Claims.

Evidence · table

> 2,330

Context: 4,087

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-11)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:4c299ca15c4d4a78719f
- Deposit or zone: Total Underground

#### Resource Data

- Category: measured
- Tonnes: 7180000
- Grade: 3.6
- Grade Unit: g/t
- Contained Metal: 832
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a significant Measured Mineral Resource for the total underground operations, providing a high-confidence base for future development.

- Positive factor: Substantial Measured Resource for total underground operations, indicating high confidence.

- Positive factor: Contributes to a 40% increase in underground M&I resources.

Evidence · table

> 7,180

Context: 0

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-12)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:39b53c0278504820b525
- Deposit or zone: Total Underground

#### Resource Data

- Category: indicated
- Tonnes: 17763000
- Grade: 3.5
- Grade Unit: g/t
- Contained Metal: 2000
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a substantial Indicated Mineral Resource for the total underground operations, significantly enhancing the overall resource base.

- Positive factor: Large Indicated Resource for total underground operations, providing a strong foundation for future planning.

- Positive factor: Contributes to a 40% increase in underground M&I resources.

Evidence · table

> 17,763

Context: 7,180

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-13)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:a7fe0059fc75dfe9cab3
- Deposit or zone: Total Underground

#### Resource Data

- Category: inferred
- Tonnes: 8140000
- Grade: 3.03
- Grade Unit: g/t
- Contained Metal: 793
- Contained Unit: koz au
- Cutoff Grade: 1.8
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes Inferred Mineral Resources for the total underground operations, contributing to the project's long-term potential.

- Positive factor: Adds to the overall underground resource potential.

Evidence · table

> 8,140

Context: 17,763

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-14)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:4f0b06be5048b9f92854
- Deposit or zone: Total

#### Resource Data

- Category: measured
- Tonnes: 7180000
- Grade: 3.6
- Grade Unit: g/t
- Contained Metal: 832
- Contained Unit: koz au

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes a significant Measured Mineral Resource, contributing to the overall high-confidence resource base of the project.

- Positive factor: High confidence Measured Resource contributing to the overall resource base.

- Positive factor: Part of an overall 34% increase in M&I resources.

Evidence · table

> 7,180

Context: 0

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-15)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:77291afd6cbd0e77548f
- Deposit or zone: Total

#### Resource Data

- Category: indicated
- Tonnes: 89686000
- Grade: 1.39
- Grade Unit: g/t
- Contained Metal: 4009
- Contained Unit: koz au

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a very substantial Indicated Mineral Resource, significantly enhancing the project's overall resource potential.

- Positive factor: Very large Indicated Resource, forming the bulk of the project's resource base.

- Positive factor: Part of an overall 34% increase in M&I resources.

Evidence · table

> 89,686

Context: 7,180

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-16)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:18ea57c3e4394794da48
- Deposit or zone: Total

#### Resource Data

- Category: inferred
- Tonnes: 12128000
- Grade: 2.22
- Grade Unit: g/t
- Contained Metal: 866
- Contained Unit: koz au

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes a significant Inferred Mineral Resource, contributing to the project's long-term potential.

- Positive factor: Adds to the overall resource potential of the project.

Evidence · table

> 12,128

Context: 89,686

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-17)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:0896b1d665af529a2df2
- Deposit or zone: Total Attributable

#### Resource Data

- Category: measured
- Tonnes: 6137000
- Grade: 3.52
- Grade Unit: g/t
- Contained Metal: 694
- Contained Unit: koz au

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes a significant attributable Measured Mineral Resource, providing a high-confidence estimate of the company's share of the resource.

- Positive factor: High confidence attributable Measured Resource, representing the company's share.

- Positive factor: Part of an overall 34% increase in M&I resources.

Evidence · table

> 6,137

Context: 1,042

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-18)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:a6df4340b873c0c48e17
- Deposit or zone: Total Attributable

#### Resource Data

- Category: indicated
- Tonnes: 87643000
- Grade: 1.33
- Grade Unit: g/t
- Contained Metal: 3760
- Contained Unit: koz au

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE shows a very substantial attributable Indicated Mineral Resource, significantly enhancing the company's share of the project's resource potential.

- Positive factor: Very large attributable Indicated Resource, forming the bulk of the company's share.

- Positive factor: Part of an overall 34% increase in M&I resources.

Evidence · table

> 87,643

Context: 6,137

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-resource-facts-19)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, other
- QP Signed: Yes
- Qualified person names: Mr. Brian Hartman
- Resource group id: resource:96fd8b93118f6e8395f3
- Deposit or zone: Total Attributable

#### Resource Data

- Category: inferred
- Tonnes: 10963000
- Grade: 2.08
- Grade Unit: g/t
- Contained Metal: 732
- Contained Unit: koz au

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The updated MRE includes a significant attributable Inferred Mineral Resource, contributing to the company's long-term potential.

- Positive factor: Adds to the overall attributable resource potential of the project.

Evidence · table

> 10,963

Context: 87,643

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

## Metallurgical Results (1)

### mill

[Link to this fact](https://atlas-extractions.minestarters.com/news/hemlo-mining-corp-reports-second-quarter-2026-financial-and-operating-results--88b5f745-c496-40ba-ae06-5612f7d08a91#fact-metallurgical-facts-2)

Hemlo Mine · gold

#### Identity

- Project: Hemlo Mine
- Commodity: gold
- Ticker: HMMC

#### Test Work

- Program Status: detailed
- Test Type: mill
- Processing Route: mill

#### Recovery

- Recovery: 94.3 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-11T00:00:00.000Z

Reasoning: The gold recovery rate for Q2 2026 remains high, although it saw a slight decrease compared to the previous quarter due to changes in the ore blend.

- Positive factor: High gold recovery rate, indicating efficient processing.

- Negative factor: Slight decrease from 95.6% in Q1 2026 due to ore blend changes.

Evidence · table

> 94.3

Context: 344

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.