ORION RESOURCE PARTNERS ANNOUNCES RECEIPT OF HEMLO MINING SECURITIES FOLLOWING HEMLO MINING’S ACQUISITION OF THE HEMLO GOLD MINE

TORONTO, Nov. 27, 2025 /CNW/ – Orion Resource Partners announced today that Orion Mine Finance Fund IV LP, an entity managed by Orion Mine Finance Management LP (collectively, “Orion“), acquired an aggregate of 46,200,000 common shares (“Common Shares“) of Hemlo Mining Corp. (“Hemlo“).

Orion acquired the foregoing Common Shares on November 27, 2025 pursuant to the conversion of 69,300,000 subscription receipts (the “Subscription Receipts“) of Carcetti Capital Corp. (“Carcetti“) held by Orion into common shares of Carcetti, upon the closing of the acquisition by Carcetti of the Hemlo Gold Mine from certain wholly-owned subsidiaries of Barrick Mining Corporation, and the subsequent amalgamation of Carcetti with 17276583 Canada Ltd. under section 181 of the Canada Business Corporations Act to form Hemlo (collectively, the “Hemlo Mine Acquisition“).

The Subscription Receipts were issued to Orion on October 7, 2025 at a price of C$2.00 per Subscription Receipt for an aggregate purchase price of C$138,600,000 as part of a private placement completed by Carcetti (the “Private Placement“).

Additional details in respect of the Hemlo Mine Acquisition and the Private Placement are contained in Carcetti’s press releases dated October 7, 2025 and November 26, 2025, copies of which can be found under Hemlo’s SEDAR+ profile at www.sedarplus.ca.

Prior to the closing of the Hemlo Mine Acquisition, Orion did not own any securities of Hemlo. Immediately following closing of the Hemlo Mine Acquisition, Orion owned 46,200,000 Common Shares, representing approximately 15.63% of Hemlo’s issued and outstanding Common Shares (based on a total of 295,496,920 Common Shares being issued and outstanding).

Orion acquired the Common Shares as a result of the closing of the Hemlo Mine Acquisition and holds the Common Shares for investment purposes. Orion has no current plan or intentions which relate to, or would result in, acquiring additional securities of Hemlo, disposing of securities of Hemlo, or any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws. Depending on market conditions, Orion’s view of Hemlo’s prospects and other factors Orion considers relevant, Orion may acquire additional securities of Hemlo from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Hemlo.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR+ profile of Hemlo at www.sedarplus.ca. To obtain a copy of the early warning report, you may also contact Dov Lader, General Counsel of Orion Resource Partners (USA) LP at 212-596-3467. Orion Mine Finance Fund IV LP’s address is PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands. Hemlo’s head office is located at 390 Bay Street, Suite 710, Toronto, ON, M5H 2Y2.

Forward-Looking Information

Certain statements in this press release are forward-looking statements and are prospective in nature, including statements with respect to Orion’s future intentions regarding the securities of Hemlo. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Orion Mine Finance GP IV LP