Hycroft Mining Corporation ceases to be a reporting issuer in Canada

RENO, NV, May 30, 2016 /CNW/ - Hycroft Mining Corporation ("Hycroft" or the "Corporation") announces that upon application to the Ontario Securities Commission, as principal regulator, and the securities regulatory authority or regulator in each of British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador and receipt of a favorable decision it is no longer a reporting issuer in Canada.  Thus, Hycroft ceases to be a reporting issuer in any jurisdiction of Canada and, as a result, will no longer be required to file financial statements and other continuous disclosure documents with Canadian securities regulatory authorities.

Following Hycroft's emergence from bankruptcy in the United States, and consistent with its publicly-filed restructuring plan, Hycroft suspended its reporting obligations upon the filing of a Form 15 with the United States Securities and Exchange Commission ("SEC") on October 22, 2015 and ceased filing periodic reports in the United States with the SEC.  Effective as of January 20, 2016, Hycroft's reporting obligations under United States securities laws were terminated.  Hycroft continues as a privately held United States incorporated company consistent with its certificate of incorporation.

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), the Securities Exchange Act of 1934, as amended (the "Exchange Act") (and the equivalent under Canadian securities laws) and the Private Securities Litigation Reform Act (the "PSLRA") or in releases made by the Securities and Exchange Commission, all as may be amended from time to time.

This cautionary statement is being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefit of the "safe harbor" provisions of such laws. All statements, other than statements of historical fact, included herein or incorporated by reference, that address activities, events or developments that the Corporation expects or anticipates will or may occur in the future, are forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "estimate", "plan", "anticipate", "expect", "intend", "believe", "project", "target", "budget", "may", "can", "will", "would", "could", "should", "seeks", or "scheduled to", or other similar words, or negatives of these terms or other variations of these terms or comparable language or any discussion of strategy or intentions.

Forward-looking statements address activities, events or developments that the Corporation expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. These statements involve known and unknown risks, uncertainties, assumptions and other factors which may cause actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements.

Although the Corporation has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results, performance and achievements and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

SOURCE Hycroft Mining Corporation

For further information: Hycroft Mining Corporation, Randy Buffington, President & CEO, (775) 358-4455; Hycroft Mining Corporation, Tracey Thom, Vice President, Investor Relations, (775) 789-0119

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Hycroft Mining Corporation

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