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25 November 2021

Hochschild Welcomes Clarification from Peruvian Government

Hochschild Mining PLC ("Hochschild" or the "Company") (LSE: HOC) (OTCQX: HCHDF) welcomes the announcement issued yesterday from the Presidency of the Council of Ministers clarifying reported statements made by the Head of Cabinet on Friday 19 November. In particular, the Company notes the government's commitment to upholding the rule of law and that its express recognition of the continued rights of mining companies to request extensions and modifications of existing permits for mining and exploration activities.

In line with the announcement, the Company's operations in southern Ayacucho, Pallancata and Inmaculada will continue to operate under the existing legal framework.

Please find a link below to the government's statement (in Spanish):

https://www.gob.pe/institucion/pcm/noticias/563320-declaracion-dialogo-entre-el-poder-ejecutivo-y-la-sociedad-nacional-de-mineria-petroleo-y-energia

Ignacio Bustamante, CEO, commented:

"We welcome yesterday's clarification from the Peruvian government. This has been the result of discussions between senior members of the Cabinet and representatives from the mining industry. We are pleased that our Inmaculada and Pallancata mines can continue to operate without further uncertainty and, furthermore, we reaffirm our goal to increasing our resources and extending our mine lives, in accordance with current legislation.

We would like to thank our communities, our employees, and those institutions and businesses who spoke out in support of legal certainty, employment, and private investment in the country. At Hochschild we have a long-held commitment to working responsibly, which brings together close collaboration with local communities and working with respect for the environment. We will build on this approach as we continue to contribute to the development of southern Ayacucho and Peru."

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Enquiries:

Hochschild Mining PLC

Charles Gordon                                                                          +44 (0)20 3709 3264

Head of Investor Relations

Hudson Sandler

Charlie Jack                                                                                 +44 (0)207 796 4133

Public Relations

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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.

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Forward-looking statements

Certain statements contained in this announcement that are not historical fact are "forward-looking" statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Company's current beliefs and expectations about future events. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "plans", "assumes" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements orally or in writing. Furthermore, such forward-looking statements may be included in, but are not limited to, press releases or oral statements made by or with the approval of an authorised executive officer of the Company.  These forward-looking statements, and other statements contained in this announcement regarding matters that are not historical facts, involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company and its subsidiaries. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements.

The forward-looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, the Company does not undertake any obligation to update or change any forward-looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.

LEI: 549300JK10TVQ3CCJQ89

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