VANCOUVER, Jan. 15, 2020 /CNW/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") reports fourth quarter and 2019 operating results. Additionally, we are providing 2020 operating guidance.

SSR Mining Inc. (CNW Group/SSR Mining Inc.)
Fourth Quarter and Full Year 2019 Operating Highlights
(All figures are in U.S. dollars unless otherwise noted)
• Record annual gold equivalent production: Our three operations produced a record 421,906 consolidated gold equivalent ounces in 2019 including 106,208 gold equivalent ounces produced in the fourth quarter. Each operation exceeded the top end of production guidance for the year.
• Continued operating strength at Marigold: In 2019, Marigold produced 220,227 ounces of gold, a record in its 30th year of continuous operation and above the top end of annual guidance. Fourth quarter production was 59,186 gold ounces.
• Seabee gold production growth: Higher gold grade and recovery led to the site's fourth consecutive annual production record of 112,137 ounces of gold, exceeding the top end of guidance.
• Puna achieves steady-state performance: Annual production of 7.7 million ounces of silver exceeded the top end of guidance, with fourth quarter milling rates and recoveries showing significant improvements.

2020 Operating Guidance Highlights
• Strong production: At the mid-point of guidance, we expect to produce approximately 425,000 gold equivalent ounces, with anticipated annual production records at Marigold and Seabee
• Robust margins: Gold equivalent cash costs at the mid-point of guidance are expected to be $740 per payable ounce sold (1).
• Capital investments focus on infrastructure to support longer mine lives and lowering unit costs: At Marigold, investments include building an additional leach pad and replacement of higher cost haul trucks. At Seabee, our tailings facility expansion, anticipated to be completed in 2021, is expected to provide capacity into the early 2030s at current mill rates.

• Exploration aims for added Mineral Resources and new discoveries: Reverse circulation drilling at Marigold and Trenton Canyon is focused on near-surface Mineral Resources, while diamond drilling targeting high-grade sulphides has already commenced at Trenton Canyon. At Seabee, the priorities are Santoy Gap Hanging Wall and testing regional targets identified during the 2019 field program.
(1)

We report the non-GAAP financial measure of cash costs per payable ounce of gold and silver sold to manage and evaluate operating performance at the Marigold mine, the Seabee Gold Operation and Puna Operations. Please see "Cautionary Note Regarding Non-GAAP Measures".

Paul Benson, President and CEO said, "SSR Mining achieved record production again in 2019 due to solid operating performance at each of our three operations. Most importantly, the corporate production record was accomplished safely. We carry that momentum into 2020 where we anticipate another strong year of gold equivalent production. At Marigold, gold grades are anticipated to increase compared to 2019 resulting in higher production and robust margins. At Seabee, increased mill throughput and strong ore grades are anticipated to drive another record year of gold production. Together with our exploration programs, we anticipate another successful year with our operating performance driving cash flow and generating value for our shareholders."

Marigold Mine, U.S.
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