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2 August 2023

Inmaculada Environmental Permit Approved by Peruvian Government

Highlights

§ Inmaculada's Modified Environmental Impact Assessment approved for an additional 20 years

§ Enables development of high-grade reserves and resources close to Inmaculada's operations

§ Resumption of brownfield exploration strategy at Inmaculada

Hochschild Mining PLC ("Hochschild" or the "Company") (LSE: HOC) (OTCQX: HCHDF) is pleased to announce that the Modified Environment Impact Assessment ("MEIA") for its Inmaculada operation in southwest Peru has received regulatory approval from SENACE, Peru's National Service of Environmental Certification for Sustainable Investments.

The MEIA is an important milestone for the Company, paving the way for its flagship mine to generate significant additional value for all stakeholders over the next two decades. The Company will now focus on implementing its growth strategy whilst maintaining the highest levels of safety, environmental stewardship and responsible business practices. By securing this key environmental permit, Hochschild is confirming its long-term commitment to investing in the Ayacucho region and its communities.

Ignacio Bustamante, Chief Executive Officer said:

"This approval represents a significant achievement for Hochschild and the Peruvian mining industry and demonstrates the Government's commitment to confirming Peru's position as an attractive mining friendly jurisdiction.

I would like to congratulate all the teams involved who have worked tirelessly for four years on the MEIA and have ensured Inmaculada's long-term future. We believe this world-class deposit will continue to underpin our Company for many decades to come and are looking forward to reigniting the successful brownfield exploration programme and continuing to invest in the region and its communities."

Eduardo Landin, Chief Operating Officer added:

"Our Company is now in a strong position to advance our long-term strategic objectives. Having secured Inmaculada's future, we can look forward to first production from our exciting Mara Rosa project in Brazil in the first half of 2024, progressing the new Royropata deposit at our Pallancata operation, and continuing to assess value accretive business development opportunities."

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Enquiries:

Hochschild Mining PLC

Charles Gordon                                                                                                                                                                                                  +44 (0)20 3709 3264

Head of Investor Relations

Hudson Sandler

Charlie Jack                                                                                                                                                                                                       +44 (0)20 796 4133

Public Relations

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About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also owns the Mara Rosa Advanced Project in Brazil as well as numerous long-term projects throughout the Americas.

LEI: 549300JK10TVQ3CCJQ89

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