Hemlo Mining’s New Gambit: A Bet on Financial Acumen to Unlock a Golden Future

TORONTO, ON – June 22, 2026 – On the surface, Hemlo Mining Corp.’s announcement today was standard corporate procedure: a new independent director, Eva Koci, has joined its Board. But reading between the lines of the press release reveals a calculated and significant strategic maneuver. By bringing in a capital markets heavyweight with a formidable track record in the mining sector, Hemlo is signaling a clear intention: to aggressively pursue its growth strategy by leveraging financial expertise and reinforcing its corporate governance, all in service of revitalizing one of Canada’s most iconic gold mines.

The move, effective immediately, places Ms. Koci not only on the board but also as Chair of the Compensation Committee and a member of the Audit Committee. For Hemlo, this is a pivotal appointment at a crucial time. Jonathan Awde, Executive Chair of Hemlo Mining, framed the decision in terms of strategic enhancement. "We are delighted to welcome Eva to the Board," he commented. "Her more than two decades of capital markets leadership in the mining sector, combined with her proven ability to build businesses and create value, make her an outstanding addition... Her financial acumen and deep industry relationships will further strengthen the Board's skill set, diversity and independence as we execute on our strategy to build Hemlo into a leading Canada-focused gold producer."

Ms. Koci’s own words echo this sense of a company at an inflection point. "I am excited to join Hemlo Mining's Board at such a pivotal moment in the Company's journey," she stated. "The Hemlo Mine is an iconic Canadian gold asset with a remarkable history and significant untapped potential." The key phrase here is "untapped potential," a clear nod to the growth and value creation that both she and the company believe is achievable. This appointment is less about maintaining the status quo and more about unlocking what comes next.

A Strategist for a Pivotal Moment

To understand the full impact of Eva Koci’s appointment, one must look beyond her title to the tangible results that define her career. This is not simply the addition of a finance expert; it is the recruitment of a proven capital-raising powerhouse. Her most recent role as Partner & Head of Capital Markets at Oberon Capital Corporation saw her play an instrumental part in raising over $1.5 billion, helping to build the firm into a dominant force in Canada's charity flow-through financing landscape—a critical funding mechanism for mineral exploration companies. This experience is not just impressive; it is directly applicable to Hemlo’s stated goal of extending the life of its flagship mine, a venture that will undoubtedly require significant investment.

Her career demonstrates a pattern of building and expanding financial beachheads for Canadian firms. During her time at Jennings Capital from 2003 to 2010, she is credited with pioneering and building the firm's U.S. institutional business. This ability to forge and cultivate relationships with a deep-pocketed investor base south of the border is a rare and valuable skill. As Hemlo Mining seeks to fund its ambitious growth plans, access to a broad and diverse pool of institutional capital will be a decisive advantage.

Furthermore, her previous board experience at South Kirkland Gold, where she helped guide the private company's strategy towards a public market listing, showcases her ability to think strategically from a governance perspective. She has been in the trenches, providing the capital markets expertise necessary to navigate complex corporate milestones. This combination of high-level strategic guidance and hands-on experience in the mechanics of finance makes her a uniquely qualified addition as Hemlo Mining charts its future. Her resume is a blueprint for exactly the kind of expertise a company needs when it plans to transition from optimizing an asset to aggressively growing it.

Fortifying Governance, Building Investor Trust

Perhaps the most immediate and tangible difference resulting from Ms. Koci's appointment is the significant enhancement of Hemlo Mining's corporate governance structure. The press release quietly notes a critical development: the Board now consists of a majority of independent directors. More importantly, with the reshuffling of committee roles, the three most critical oversight bodies—the Audit Committee, the Compensation Committee, and the Nominating and Governance Committee—will now be comprised solely of independent directors.

This is a milestone that cannot be overstated. In an industry often scrutinized for its environmental, social, and governance (ESG) practices, demonstrating an unimpeachable commitment to transparency and accountability is paramount for attracting and retaining institutional investment. A fully independent Audit Committee, now including Ms. Koci, ensures that financial reporting is scrutinized without internal bias. A fully independent Compensation Committee, which she will chair, signals to shareholders that executive pay is aligned with performance and shareholder interests, not internal politics.

For investors, this structure provides a powerful layer of assurance. It mitigates the risk of conflicts of interest and ensures that the strategic direction of the company is being challenged and vetted by individuals whose primary fiduciary duty is to the shareholders. In the capital-intensive world of mining, where projects span decades and require immense upfront investment, this kind of robust governance framework is not a "nice-to-have"—it is a fundamental prerequisite for long-term value creation and risk management. By taking this step, Hemlo is sending a clear message to the market: we are a serious, well-governed organization ready for the next stage of growth.

Revitalizing an Iconic Canadian Asset

At the heart of this story is the Hemlo Gold Mine itself. An anchor of northwestern Ontario's economy, the mine has been in operation since 1985 and has produced an astonishing 25 million ounces of gold. But for a legacy asset, the challenge is always the future. The company's strategy is explicitly focused on maximizing the mine's value through improved efficiency, production growth, and, most critically, mine life extension.

This is where the strategic appointment of Eva Koci connects directly to the rock and machinery on the ground. Extending the life of a mine requires exploration to identify new resources, capital to develop them, and innovative engineering to extract them efficiently. Each of these steps requires substantial funding. Ms. Koci’s deep connections in capital markets and her expertise in structuring financing are the tools that will enable Hemlo to turn its strategic goals into funded, operational realities.

Her role is to help ensure the company has the financial resources to drill deeper, explore wider, and implement the technologies needed to keep the Hemlo mine a productive and profitable asset for years to come. The appointment is a tangible investment in the mine's longevity. It represents the crucial link between boardroom strategy and the long-term viability of the company's core operational asset, impacting not just shareholders but the hundreds of employees and the regional economy that depend on it.

A New Blueprint for Mining Leadership

Zooming out, Hemlo Mining’s decision reflects a broader, positive trend in the Canadian mining sector. The industry is moving away from boards dominated solely by geologists and engineers and towards a more holistic model of leadership that balances operational expertise with sophisticated financial, strategic, and governance acumen. The appointment of a female leader with a finance background to the board of a gold mining company is a powerful example of this evolution.

It acknowledges that in the 21st century, a mining company's success is determined as much in the capital markets as it is in the ground. It also underscores the growing recognition that diversity of thought, experience, and background on a board leads to better decision-making and more resilient companies. Ms. Koci's appointment strengthens Hemlo's board not just with her financial expertise, but with the unique perspective she brings.

This move by Hemlo Mining Corp. is a case study in modern corporate strategy. It is a deliberate, multi-faceted decision designed to secure the company’s financial foundation, strengthen its governance, and empower its operational strategy. By bringing Eva Koci to the table, Hemlo is not just adding a director; it is acquiring a strategic asset to help navigate the pivotal journey ahead.