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Hycroft Completes $138.6 Million Public Equity Program |

Strengthened balance sheet with $194.4 million In gross product Recent equity investments

WINNEMUCCA, Nevada., March 25, 2022 /PRNewswire/ — Hycroft Mining Holding Corporation (Nasdaq: HYMC) (“Hycroft” or the “Company”), a precious metals development company that owns the Hycroft mine located in the world-class mining region of Northern Nevadaannounced today that it has completed its previously disclosed “into the market” share issuance program (the “ATM Program”).

As stated previously on March 15, 2022, Hycroft initiated the ATM Program which provided for the offering and sale, from time to time, of Class A common stock (the “Shares”). Under the ATM program, Hycroft sold 89,553,584 shares and generated aggregate gross proceeds before commissions and offering costs of approximately $138.6 million. Following the completion of all sales under the ATM program, Hycroft will have 196,803,459 shares issued and outstanding.

Diane GarrettChairman, Chief Executive Officer and Interim Chairman of Hycroft, commented, “We are extremely pleased with this successful financing which puts the Company on a solid footing to advance the Hycroft mine and unlock new opportunities for the Company. With the significant and timely private placement announced March 15, 2022with Eric Sprott and AMC Entertainment Inc., combined with the ATM equity program completed today, our financial position is significantly strengthened, allowing us to reduce our debt and extend repayment through 2027. $194.4 million changes the dynamic of the Company, expanding our ability to properly and diligently develop the Hycroft mine, including a robust exploration program, and to further unlock the value of this world-class asset. We welcome our new shareholders to the company and look forward to updating you on ongoing developments.”

At March 15, 2022Hycroft also announced a $55.9 million private equity placement with a precious metals investor Eric Sprott and AMC Entertainment Holdings, Inc. with the issuance of 46,816,480 units, each unit consisting of one common share and one common share purchase warrant. As previously disclosed, the Company intends to use proceeds from the equity private placement and ATM program to advance the initial assessment in the 2022 Technical Report Summary towards a pre-feasibility and/or feasibility study, l exploration at the Hycroft mine and general exploration. business purposes which have or may include repayment, refinancing, repayment or redemption of existing debt, working capital or capital expenditures and other investments.

About Hycroft Mining Holding Corporation

Hycroft Mining Holding Corporation is a United States-based gold and silver development company that owns the Hycroft Mine, a well-established, world-class asset with a large mineral endowment in Northern Nevada, a Tier 1 mining jurisdiction. The Company is focused on transforming Hycroft into a large-scale mining operation by developing a process for its significant on-site gold and silver sulphide mineral resources. Additional information is available at hycroftmining.com.

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Securities Exchange Act of 1934, as amended, or United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included herein and public statements by our officers or representatives, that address activities, events or developments that our management expects or anticipates will or may occur in the future, are forward-looking statements, including, but not limited to, such items as future business strategy, plans and objectives, competitive forces, and the expansion and growth of our business. The words “estimate”, “plan”, “anticipate”, “expect”, “intend”, “believe”, “target”, “budget”, “may”, “may”, ” will”, “would”, “could”, “should”, “seek” or “should” and similar words or expressions, or negative forms of these terms or other variations of these terms or comparable language or any discussion of strategy or intent to identify forward-looking statements Forward-looking statements address activities, events or developments that the Company expects or anticipates will or may occur in the future and are based on current expectations and assumptions.These risks may include the following and the occurrence of one or more of the events or circumstances, alone or in combination with other events or circumstances, may have a material adverse effect on the activities, cash flows, financial condition and results of operations tation of the Company. Please review our “Risk Factors” set out in our 8-K filed on March 15, 2022 and annual report on Form 10-K for the fiscal year ended December 31, 2020as amended May 14, 2021, and other reports filed with the SEC for more information on these and other risks. You are cautioned against ascribing undue certainty to forward-looking statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking statements, there may be other factors that cause results not to be those anticipated, estimated or planned. Although these forward-looking statements are based on assumptions that the Company believes were reasonable at the time they were made, you are cautioned that forward-looking statements are not guarantees of future performance and that actual results, performance or achievements may differ materially from those formulated or suggested. by the forward-looking statements contained in this press release. Furthermore, even if our results, performance or achievements are consistent with the forward-looking statements contained in this press release, such results, performance or achievements may not be indicative of the results, performance or achievements of subsequent periods. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements made in this press release speak only as of the date of such statements, and we undertake no obligation to update such statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.

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SOURCE Hycroft Mining Holding Corporation