PRESS RELEASE FOR EARLY WARNING REPORT REGARDING CARCETTI CAPITAL CORP.

VANCOUVER, BC, Dec. 3, 2025 /PRNewswire/ - Jonathan Awde, of 1588-609 Granville Street, Vancouver, British Columbia, V7Y 1G5, today announced that, on December 2, 2025, he acquired ownership of 209,100 common shares ("Hemlo Shares") in the capital of Hemlo Mining Corp. ("Hemlo") through the facilities of the TSX Venture Exchange at an average price of $3.96 per Hemlo Share (the "December Share Purchase").

Prior to the December Share Purchase, on October 7, 2025, Mr. Awde acquired an aggregate of 5,500,000 subscription receipts (each, a "Subscription Receipt") of Carcetti Capital Corp. ("Carcetti") as a result of a private placement at a price of $2.00 per Subscription Receipt. Each Subscription Receipt was convertible into one common share of Carcetti upon closing of the Carcetti's acquisition (the "Transaction") of the Hemlo Gold Mine in Ontario, Canada from certain wholly-owned subsidiaries of Barrick Mining Corporation.

On November 26, 2025, Carcetti completed the Transaction and the Subscription Receipts were automatically converted into common shares of Carcetti ("Carcetti Shares"), without any further action from Carcetti or Mr. Awde or any additional consideration.

On November 27, 2025, Carcetti amalgamated (the "Amalgamation") with a wholly-owned subsidiary and continued as one corporation under the name "Hemlo Mining Corp.". In connection with the Amalgamation, Hemlo consolidated its shares on the basis of two-thirds (2/3) of a new common share for every one pre-Amalgamation share.

Upon closing of the Transaction, 443,245,380 common shares of Carcetti were outstanding. As of the date hereof, there are 295,496,920 common shares of Hemlo ("Hemlo Shares") outstanding. As a result, Mr. Awde has ceased to hold at least 10% of the issued and outstanding Hemlo Shares.

Prior to the Transaction, Mr. Awde owned, directly or indirectly, or exercised control or direction over, 4,900,500 Carcetti Shares and 325,000 securities convertible into Carcetti Shares ("Carcetti Convertible Securities"). The 4,900,500 Carcetti Shares and 325,000 Carcetti Convertible Securities represented approximately 19.09% of the total number of issued and outstanding Carcetti Shares on a non-diluted basis and approximately 20.36% on a partially diluted basis.             

Following completion of the Transaction and the December Share Purchase, Mr. Awde held 7,142,766 Hemlo Shares and 2,010,754 securities convertible into Hemlo Shares ("Hemlo Convertible Securities"), representing a change of 16.67% on a non-diluted basis and 17.26% on a partially diluted basis. The 7,142,766 Hemlo Shares and 2,010,754 Hemlo Convertible Securities represent approximately 2.42% of the total number of issued and outstanding Hemlo Shares on a non-diluted basis and approximately 3.10% on a partially diluted basis.

A copy of the Early Warning Report to be filed by Mr. Awde, will be available on SEDAR+ under the Hemlo's profile on www.sedarplus.ca.

SOURCE Jonathan Awde