HOCHSCHILD MINING

PROPERTY LOCATION & ACQUISITION DATE

Project Activities In The 2022 Season

Hochschild Mining Canada Corp.

666 Burrard St. Suite 1700, Vancouver, BC, V6C 2X8 hochschildmining.com

CONTACTS

GENERAL INQUIRIES, LEADERSHIP, CONTRACTING, EMPLOYMENT & ENVIRONMENT

Tom Elliott VP North America

647 291 1916 tom.elliott@hocplc.com

We have one property (SNIP), located entirely in Tahltan Territory, in the Iskut River region in north-western BC. At the Golden Triangle, 100 to 200 km south of Iskut/ Dease Lake/Telegraph Creek and approximately 100 km north of Stewart.

In 2018, Hochschild entered into an agreement with Skeena, and in 2021, Hochschild started managing operations.

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

Camp Opening (January 2022): During 2022, there were challenges with opening up SNIP Camp. Arriving on site in late January 2022, there was two meters of snow on the ground around our camp site which had to be cleared all the way to the 300 portal.

Underground Operations and Drilling: Hochschild was successful in achieving zero lost time, accidents, and

In 2022 SNIP was active principally for:

• Exploration drilling: 10,377 meters completed by two underground drills, and one surface drill over seven months, from 68 holes.

• Environmental baseline data collection:

» Air, geochemistry, hydrology (surface water quality and quantity), noise and wildlife.

» Terrestrial Ecosystem map began with studies on soils, terrain, and vegetation.

» Ground water drilling, 28 holes in preparation for numerical hydrogeological model.

• Site-Supervision: Environmental, and Health & Safety medical aids in 2022 while completing portal entrance ground control underground rehab work, underground drilling (68 holes) surface drilling (one exploration hole and 26 hydrogeological holes). Out of approximately 100,777 man hours, 29.69 were attributed to Northern Labour Services and Kica.

Core Processing: New workflow processes and staff took time to adjust to Hochschild’s internal work procedures. Alast minute need to rush production to meet deadlines caused additional short term staff and higher stress production goals.

Number of employees working on your project(s)?

Hochschild hired contracting and subcontracting companies including: Stantec, Adapt Mountain Safety, Tri-Point Geological, Obsidian, P&R Exploration Wild Timber, Rugged Edge/Norad Logistics, CM Rock Engineering, CanMine Contracting, Mine Power Service, Sirgo Resources, Tahltan Allnorth Consultants, Kayjay Solutions, Northern Labour Services, Kica, and Summit Helicopters. The number of workers and employees and consultants of these companies numbered 223, which includes turnovers.

Hochschild Mining Canada employed six permanent, and four consulting P. Geologists and GITs, for a total of ten employees.

Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and what’s your company’s market cap?

The majority of Hochschild’s financing come from internal revenue from South America. Eduardo Hochschild owns 38.3% Black Rock owns 4.2%, Van Eck owns 3.3%, and there are 255 other shareholders, each owning less than 3%. We have a $702 million market capitalization.

Tentative plans and hopes for the 2023 season?

Late January 2023 Preliminary Economic Assessment (PEA) release.

• Base environmental: Continuation of activities that began in 2022. Four to ten people from Stantec with help from Tahltan workers (NLS), and Tahltan Guardians for five to nine days per month.

• Site Supervision: Full time environmental and health and safety.

• Drilling: Potentially 7,500 meters from 10 holes, all from the surface in the summer/fall, targeting extensions of three existing veins. Budget decision pending in the second quarter.

RELATIONSHIP WITH THE TCG & TAHLTAN NATION

During the 2022 season, what involvement did TCG personnel and departments have with your company? If they were not involved, why not?

We had involvement with President Chad Day, Ombrielle Neria (Communications & External Relations Director), Connor Pritty (Lands Director), Ann Ball (Employment & Business Director), Richard Louise, Heather Hawkins (TCG Vice President) and Alex Buri (Tourism Director).

In 2022, how many Tahltans did you employ? What positions did they hold in your company and what percentage of Tahltans did you employ compared to others?

Hochschild Mining Canada employed 42 Tahltans. They held positions as geotechnicians, environmental monitors, equipment operators, carpenters, labourers, kitchen staff and cleaners, as well as a wild manager position. Tahltan workers represented 17.8% of the entire workforce, keeping in mind many of the other workforce were only on site for one to three days. For workforce personnel on site greater than two weeks, Tahltans represented 19.4% of the workforce.

What employment opportunities, now and in the future, are available to Tahltan members?

Similar roles as to now, but if the project goes ahead, there may be opportunities working underground and in operations.

Why should Tahltan members want to work for you?

Tahltan members would want to work for Hochschild because the corporation is committed to:

• The environment: Focused on zero environmental accidents, reducing water use, GHG & carbon emissions intensity, solid waste generation.

• Health and safety: Focused on zero harm in the workplace.

• Social: Through local employment (17.5-19.5% of site-based jobs are Tahltan-held), and procurement (support for off-site business), respect for local customs and dynamics, investing in social programs.

• People: Through equal employment opportunities, respect for human rights, zero discrimination, increased gender equality and diversity (strong female representation).

• Corporate Responsibility: Focused on high ethical standards, with zero tolerance policy of non-compliance in the code of conduct. Whistleblowing Portal online available to all.

• Site History: The SNIP Mine has long history with the Tahltan Nation. Many current staff have previously worked at the project and there has been expressed interest in working at an operational SNIP Mine again.

Did you have any Tahltan contractors working for your company? What percentage of your contracting dollars went to Tahltan companies, including TNDC and their joint ventures?

Tahltan-affiliated or owned companies include: Stantec, Adapt Mountain, Obsidian, P&R Exploration, Wild Timber, Rugged Edge/ Norad Logistics, More Core Drilling, Tahltech Drilling, Tahltan Allnorth Consultants, Northern Labour Services, Kica, and Summit Helicopters.

47% of Hochschild’s dollars went to Tahltan companies.

Do you have any outside contractors working for you? If so, who are they? Who were the primary contractors you utilized?

Yes, we did have outside contractors. The names are: Alkan, ALS, Ausenco BaseMetLabs, BC Communications, British Columbia Ministry of Energy, Mines and Low Carbon Innovation, Bulkley Valley, CIL, CM Rock Engineering, CMH Services, Deswik, Geobrugg, Iridia Medical, Knight Piesold, Leapfrog, Matrix, Mining Plus, TMG, West Coast Satellite, and Whitecap RSC Medical.