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10 June 2025

Mara Rosa Update

Hochschild Mining PLC ("Hochschild" or "the Company") (LSE: HOC) (OTCQX: HCHDF) provides the following update on its Mara Rosa operation in Brazil.

The Company has previously disclosed that operations at Mara Rosa have been adversely affected by heavier-than-usual seasonal rainfall over the past few months as well as contractor performance issues. These conditions have limited access to ore, particularly the higher-grade zones within the pit, and have further compounded ongoing challenges with the filtering processes. As a result, efforts to recover from delays in mine waste removal carried over from the previous year have been further prolonged.

Following the resignation of the Company's Chief Operating Officer, as announced on 27 May 2025, Eduardo Landin, CEO, has temporarily assumed operational responsibilities and is leading a comprehensive review of all mining, processing and disposal activities at Mara Rosa to identify constraints to the mine's output. As part of this review, a temporary suspension of the processing plant of approximately six weeks is anticipated in order to carry out general maintenance activities and mechanical filter repair work. Mining operations will continue as planned. The review team is actively engaging with stakeholders in order to achieve a sustained improvement in performance.

At the start of the year, the Mara Rosa mine was expected to produce between 94,000 and 104,000 ounces of gold in 2025 and as at the end of May, the mine had produced just over 25,000 ounces of gold. The measures being taken are expected to result in a significant reduction to that guidance and this will have a corresponding impact on the operation's costs.

An update on progress of the review and revised full year Group guidance will be provided in due course.

The Company confirms that production at both the Inmaculada mine in Peru and San Jose in Argentina is in line with expectations. 

Eduardo Landin, Chief Executive Officer commented:

"The wide-ranging measures we are taking at Mara Rosa are focused on achieving a sustainable level of operational performance. We remain confident in the geological potential of the asset and in Brazil's role as a key pillar of our long-term growth strategy."

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Enquiries:

Hochschild Mining PLC

Charles Gordon                                                                   +44 (0)7739 320982

Head of Investor Relations

Hudson Sandler

Charlie Jack                                                                        +44 (0)207 796 4133

Public Relations

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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (as it forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The person responsible for arranging the release of this announcement is Raj Bhasin, UK Counsel & Company Secretary.

About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best Market in the U.S. (HCHDF), 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 operates two underground epithermal vein mines: Inmaculada, located in southern Peru; and San Jose in southern Argentina, and an open pit gold mine, Mara Rosa, located in the state of Goiás, Brazil. Hochschild also has the Monte do Carmo Advanced Project and numerous long-term projects throughout the Americas.

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LEI: 549300JK10TVQ3CCJQ89

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