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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

4 April 2022

Completion of the acquisition of Amarillo Gold Corporation ("Amarillo")

Further to the announcement made by Hochschild Mining PLC ("Hochschild" or the "Company") on 22 March 2022 in which Hochschild announced that it had received Shareholder approval for the acquisition of Amarillo (the "Acquisition"), Hochschild is pleased to announce that completion of the Acquisition occurred at 4.30pm Pacific Time on Friday 1^st April 2022.

Defined terms used but not defined in this announcement have the meanings set out in the circular issued to Shareholders on Friday 4 March 2022 in connection with the Acquisition.

Ignacio Bustamante, Chief Executive Officer, said:

"We are delighted to have closed the acquisition of Amarillo which adds the exciting Posse project in Brazil to our portfolio. We can look forward to the commencement of construction and the opportunity to generate strong sustainable value for the Company and the project's local stakeholders."

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Enquiries:

Hochschild Mining PLC

Raj Bhasin                                                                                                                                                                                                   +44 (0)7825 533495

Company Secretary

Hudson Sandler

Charlie Jack                                                                                                                                                                                                 +44 (0)207 796 4133

Public Relations

RBC Capital Markets (Financial Adviser, Sole Sponsor and Corporate Broker)

Marcus Jackson

Ryan Latinovich

Hugh Samson

Scott Redwood                                                                                                                                                                                             +44 (0)20 7653 4000

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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 currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

LEI: 549300JK10TVQ3CCJQ89

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About Amarillo Gold Corporation

Amarillo is advancing two gold projects located near excellent infrastructure in mining-friendly states in Brazil. The development stage Posse gold project is on the Amarillo's Mara Rosa property in Goiás State. It has a positive definitive feasibility study that shows it can be built into a profitable operation with low costs and a strong financial return. Mara Rosa also shows the potential for discovering additional near-surface deposits that will extend Posse's mine life beyond its initial ten years.

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IMPORTANT NOTICES

The distribution of this announcement in or from certain jurisdictions may be restricted or prohibited by the laws of any jurisdiction other than the UK. Recipients are required to inform themselves of, and comply with, all restrictions or prohibitions in such other jurisdictions. Any failure to comply with applicable requirements may constitute a violation of the laws and/or regulations of other such jurisdiction.

This announcement has been prepared for the purposes of complying with the applicable law and regulation of the UK (including the Listing Rules and the Disclosure Guidance and Transparency Rules) and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the UK.

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