SSR MINING REPORTS THIRD QUARTER 2023 RESULTS

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Algemeen advies 02/11/2023 06:12
THIRD QUARTER 2023 HIGHLIGHTS (1)
• ATTRIBUTABLE AND ADJUSTED ATTRIBUTABLE DILUTED EARNINGS PER SHARE OF $0.07 AND $0.26, RESPECTIVELY
• QUARTERLY PRODUCTION OF 192,195 GOLD EQUIVALENT OUNCES AT COST OF SALES OF $1,095 AND AISC OF $1,289 PER OUNCE
• YEAR-TO-DATE PRODUCTION OF 495,668 GOLD EQUIVALENT OUNCES AT COST OF SALES OF $1,173 AND AISC OF $1,516 PER OUNCE
• REMAIN ON TRACK FOR THE LOW-END OF CONSOLIDATED PRODUCTION GUIDANCE OF 700,000 GOLD EQUIVALENT OUNCES
• QUARTERLY OPERATING CASH FLOW AND FREE CASH FLOW OF $135.3 MILLION AND $87.8 MILLION, RESPECTIVELY
• QUARTERLY OPERATING CASH FLOW AND FREE CASH FLOW BEFORE WORKING CAPITAL ADJUSTMENTS OF $142.4 MILLION AND $94.9
MILLION, RESPECTIVELY
• YEAR-TO-DATE 2023 CAPITAL RETURNS NOW TOTAL APPROXIMATELY $88.5 MILLION; ON TRACK FOR A MINIMUM FULL-YEAR CAPITAL
RETURNS YIELD OF 3.6%
• ACCESSED FIRST ORE FROM THE ÇAKMAKTEPE EXTENSION PROJECT DURING THE THIRD QUARTER, FIRST PRODUCTION DELIVERED
IN LATE SEPTEMBER IN LINE WITH GUIDANCE; EXPLORATION CONTINUES WITH AIM TO EXPAND MINERAL RESERVES AND RESOURCES
• PRODUCTION GUIDANCE TO BE RELEASED IN Q1/24 OUTLINING INITIATIVES TO DRIVE PRODUCTION GROWTH FROM EXPANSION
PROJECTS
• INITIAL HOD MADEN INFILL DRILLING COMMENCES WITH AIM TO DE-RISK PRODUCTION RAMP-UP; POSITIVE RESULTS INCLUDE 90
METERS AT 16.5 G/T GOLD AND 1.56% COPPER
• SEABEE EXPLORATION CONTINUES TO ILLUSTRATE MINE LIFE EXTENSION POTENTIAL AT THE PORKY TARGETS, INCLUDING 5.6 METERS
AT 46.1 G/T GOLD
• CONTINUED EXPLORATION AT THE CORTADERAS TARGET AT PUNA RETURNS 190 METERS AT 155 G/T SILVER AND 10.6% ZINC
• MARIGOLD EXPLORATION RESULTS EXPECTED TO OFFSET DEPLETION; ANALYSIS OF FUTURE GROWTH PATHWAYS AT NEW MILLENNIUM
AND INITIAL MINERAL RESOURCES AT BUFFALO VALLEY ADVANCING
• CONTINUED NON-CORE ASSET RATIONALIZATION PROGRAM WITH THE DIVESTITURE OF THE SUNRISE LAKE EXPLORATION PROPERTY
DENVER - SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) ("SSR Mining" or the “Company") reports consolidated
financial results for the third quarter ended September 30, 2023. In addition, the Board of Directors declared a quarterly
cash dividend of $0.07 per common share payable on December 11, 2023 to holders of record at the close of business on
November 13, 2023. This dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
Rod Antal, Executive Chairman of SSR Mining, said, “The third quarter of 2023 featured strong operating and financial
results that were well aligned to our forecasts, including record production from Marigold and record throughput at Puna. In
addition, first ore from Çakmaktepe Extension was accessed late in the quarter, and the project is on track to deliver initial
production of 10,000 to 15,000 ounces in the fourth quarter of 2023 as planned. The results to date continue to put us on
track for the lower-end of our production guidance in 2023.
As we work towards a strong finish to the year, we have also committed a substantive effort towards the advancement of
refreshed technical reports for both Marigold and Çöpler. To ensure we best align the reoptimized production profiles at
each asset with the growth trajectory of the overall portfolio, we now expect to release the results of this ongoing technical
work alongside our guidance forecasts and updated Mineral Reserves and Resources in February 2024. The interim
analysis of the work completed to-date is revealing initial positives with respect to replacing and expanding our Mineral
Reserve and Mineral Resource base through recent exploration success.

(1) The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted attributable net income per share, cash generated by operating
activities before working capital adjustments, free cash flow, free cash flow before changes in working capital, total cash, net cash (debt), cash costs and all-in sustaining costs
(“AISC”) per ounce sold (a common measure in the mining industry), to manage and evaluate its operating performance at its mines. See "Cautionary Note Regarding NonGAAP Financial Measures" for an explanation of these financial measures and a reconciliation of these financial measures to the most comparable GAAP financial measures.
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