VANCOUVER, BC, Jan. 16, 2024 /PRNewswire/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) reports 2023 gold production of 226,151 ounces (oz) from its two operations in Colombia, within the 2023 guidance range of 220,000 to 240,000 oz. The Q4 2023 results provided in this news release are approximate and may differ from the final results to be included in the Company's 2023 annual audited financial statements and MD&A, which the Company expects to release in early March 2024.

Neil Woodyer, CEO of Aris Mining, commented "In 2023, our Segovia Operations achieved full-year production of 202,940 ounces, meeting its guidance range of between 195,000 and 210,000 ounces. We also achieved substantial growth in mineral resources and reserves at Segovia, supporting our plan to expand the processing facilities. During the transition to full-scale construction of the new Marmato Lower Mine that started in Q3 2023, our Marmato Upper Mine maintained operations and produced 23,211 ounces during the year.

Looking ahead to 2024, we expect total gold production of between 220,000 and 240,000 ounces, which is consistent with our 2023 production rates. We are currently expanding the Segovia processing facility by 50% to 3,000 tonnes per day (tpd), with completion expected by early 2025. We are also building the new Marmato Lower Mine with the first gold pour expected in late 2025. We are targeting to produce approximately 500,000 ounces of gold in Colombia in 2026, following completion of our two expansion projects. We are also continuing to progress permitting at the top-tier Soto Norte gold-copper project and defining a new development plan for our Toroparu Project.

During 2024, we plan to invest $21 million in exploration programs designed to build on the exploration success and new interpretation at the Segovia Operations which resulted in a 114% increase in mineral resources and 75% increase in gold reserves in 2023."

2023 Highlights:
Achieved total annual gold production of 226,151 oz with steady quarter-over-quarter increases.
Table 1: 2023 Gold Production and Sales (oz) by Quarter
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