SSR MINING REPORTS THIRD QUARTER 2021 RESULTS

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Overig advies 03/11/2021 18:11
ADJUSTED ATTRIBUTABLE EPS OF $0.40 PER SHARE AND FREE CASH FLOW OF $129 MILLION
AISC GUIDANCE LOWERED AS OPERATIONAL OUTPERFORMANCE CONTINUES
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, 2021. In addition, the Board of Directors declared a
quarterly cash dividend of US$0.05 per common share, payable on December 13, 2021 to holders of record at the
close of business on November 15, 2021. This dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
Rod Antal, President and CEO said, "The third quarter of 2021 again demonstrated the strong operational and
financial results synonymous with SSR Mining, as the Company delivered production of 186,941 gold equivalent
ounces at AISC of $1,006 per gold equivalent ounce. Year-to-date production of 583,316 gold equivalent ounces
compares favorably to full-year guidance, while, despite inflationary pressures across the globe, year-to-date AISC of
$990 per gold equivalent ounce remains well below our original full-year guidance range of $1,050 to $1,110 per gold
equivalent ounce. This strong cost performance has allowed us to lower our 2021 AISC guidance to $1,000 to $1,040
per gold equivalent ounce.
Operationally, we delivered records across the portfolio in the third quarter, and subsequent to the quarter the updated
Çöpler EIA, which includes the flotation circuit, was approved. Our balance sheet remains a key strength, and we are
well positioned to fund the multitude of low capital, high return organic growth opportunities across SSR Mining's
portfolio. We demonstrated the significant near-mine growth potential of both the Ardich and Seabee properties with
positive exploration updates in the third quarter, and look forward to additional exploration updates from Marigold,
Copper Hill, and Amisk by year-end.
SSR Mining’s continued delivery of exceptional cost performance translated to $129 million of free cash flow in the
third quarter. Year-to-date free cash flow of $306 million further reinforces our outstanding free cash flow yield, and
continues to support our robust capital returns program as we have now delivered nearly $150 million dollars in share
repurchases through the Normal Course Issuer Bid announced in April, 2021. Combined with our quarterly base
dividend, we remain on track to return nearly $200 million to shareholders this year.”
SSR Mining Inc. PAGE 2
Third Quarter 2021 Highlights:
(All figures are in U.S. dollars unless otherwise noted)
? Operational outperformance drives reduction in AISC guidance: Delivered third quarter production of
186,941 gold equivalent ounces at AISC of $1,006 per gold equivalent ounce.(1) Year-to-date production of
583,316 gold equivalent ounces is on track with full-year guidance, while year-to-date AISC of $990 per gold
equivalent ounce continues to track below full-year guidance.(1) Given this strong performance, AISC guidance is
reduced from $1,050 - $1,110 per gold equivalent ounce to $1,000 - $1,040 per gold equivalent ounce.
? Peer leading free cash flow generation: Generated cash flows from operating activities of $187.9 million and
free cash flow of $129.2 million in the third quarter with year-to-date free cash flow of $306.2 million.(1) Reported
third quarter attributable net income of $57.2 million, or $0.27 per share, and adjusted attributable net income of
$84.8 million, or $0.40 per share.(1)
? Year-to-date capital returns to shareholders total $181 million: At the end of Q3, SSR Mining has returned
nearly $150 million to shareholders through the purchase of 8,800,700 shares, at an average share price of
$16.82 per share, since the Normal Course Issuer Bid (“NCIB”) program’s inception on April 19, 2021. In Q3 the
Company repurchased 4,800,700 shares at an average price of $16.20 per share. In addition, the Board declared
the third quarterly cash dividend of $0.05 per share on November 3, 2021.
? Balance sheet remains strong: Cash and cash equivalent balances remained strong at $862.8 million, following
$77.8 million in share buybacks, $10.7 million in dividend payments to equity shareholders, while also reducing
debt balances $17.5 million during the quarter. Non-GAAP consolidated cash now totals $899.7 million.
? Çöpler processed record tonnes in sulfide plant: Delivered gold production of 82,975 ounces in the third
quarter, reporting AISC of $714 per ounce, driving robust margins.(1) The sulfide plant treated a record 613
thousand tonnes in the quarter. The updated Çöpler EIA, which includes the flotation circuit, was approved in
October 2021. Subsequent provincial permitting for the operation of the flotation facility is in process and is
expected to be completed in the fourth quarter.
? Marigold continues record material movement: Delivered gold production of 52,049 ounces for the third
quarter as the mine moved a record 25.4 million tonnes of material, due to shorter haulage cycles and increased
loading fleet capacities. Quarterly gold production and costs were impacted by maintenance in the stripping circuit
deferring gold recovery into the fourth quarter.
? Seabee mill processed a record 1,400 tonnes per day in September: Produced 22,589 ounces of gold at
AISC of $898 per ounce as head grades of 7.70 g/t were in line with plan. Despite scheduled mill maintenance in
the quarter, throughput averaged 991 tonnes per day.(1)
? Puna continues to achieve record production year-to-date: Produced 2.2 million ounces of silver at cash
costs of $7.65 per ounce in the third quarter and AISC of $12.32 per ounce.(1) Year-to-date production of 6.0
million ounces of silver was a record for the period and the mine is currently tracking above full-year production
and below full-year cost guidance.
? Continued delivery of positive exploration results across the portfolio: Announced exploration results from
Ardich and Seabee in the quarter, highlighting near-mine organic growth potential that is expected to be reflected
in updated technical reports from both assets in 2022. Additional exploration updates are expected from Marigold,
Copper Hill, and Amisk by year-end 2021.
SSR Mining Inc. PAGE 3
? Announced the sale of a non-core royalty portfolio: On July 29, 2021, the Company announced it had entered
into a definitive agreement to sell a portfolio of royalty interests and deferred payments to EMX Royalty Corp.
(“EMX”) for total consideration of $100 million. This consideration includes $33 million in cash, $32.5 million in
EMX shares, and $34 million in deferred compensation payments to be delivered upon achievement of clearly
defined project development milestones. Subsequent to the quarter’s end, the transaction closed on October 21,
2021.
(1) SSR Mining reports the non-GAAP financial measures of all-in sustaining costs ("AISC") per ounce of gold, silver and gold equivalent sold,
adjusted attributable net income, adjusted attributable net income per share and free cash flow to manage and evaluate the Company's
operating performance. See “Non-GAAP Financial Measures” in Section 12 of the MD&A.

Financial and Operating Highlights
A summary of the Company's consolidated financial and operating results for the three and nine months ended
September 30, 2021 and 2020 are presented below:
(in thousands of US dollars, except per share data) Three months ended September 30, Nine months ended September 30,
2021 2020 2021 2020
Financial Results
Revenue $ 322,846 $ 225,412 $ 1,066,280 $ 482,360
Income from mine operations $ 122,303 $ 83,226 $ 424,978 $ 162,186
Gross margin (2) 38 % 37 % 40 % 34 %
Operating income $ 98,967 $ 52,725 $ 333,392 $ 82,380
Net income $ 62,454 $ 25,113 $ 173,820 $ 42,813
Net income attributable to equity holders of SSR Mining $ 57,176 $ 26,754 $ 164,170 $ 44,454
Basic attributable net income per share $ 0.27 $ 0.19 $ 0.76 $ 0.35
Adjusted attributable net income (1) $ 84,790 $ 70,033 $ 288,203 $ 106,634
Adjusted basic attributable net income per share (1) $ 0.40 $ 0.51 $ 1.33 $ 0.83
Cash generated by operating activities $ 187,874 $ 44,099 $ 481,696 $ 131,232
Cash used in investing activities $ (65,836) $ 245,106 $ (174,735) $ 234,889
Cash used in financing activities $ (128,757) $ (17,077) $ (303,711) $ (136,266)
Operating Results
Gold produced (oz) 157,613 88,972 498,402 226,858
Gold sold (oz) 156,388 99,497 503,378 231,626
Silver produced ('000 oz) 2,184 1,280 5,966 3,416
Silver sold ('000 oz) 1,565 1,193 5,624 3,651
Lead produced ('000 lb) (4) 10,571 3,952 26,377 10,664
Lead sold ('000 lb) (4) 7,196 3,655 21,725 11,745
Zinc produced ('000 lb) (4) 3,420 1,876 10,434 4,056
Zinc sold ('000 lb) (4) 2,287 1,557 6,948 4,141
Gold equivalent produced (oz) (5) 186,941 107,556 583,316 267,529
Gold equivalent sold (oz) (5) 176,299 115,290 579,331 271,315
Average realized gold price ($/oz sold) $ 1,792 $ 1,914 $ 1,804 $ 1,758
Average realized silver price ($/oz sold) $ 24.06 $ 26.69 $ 25.67 $ 20.25
Cash cost per gold equivalent ounce sold (1, 5) $ 639 $ 735 $ 653 $ 807
AISC per gold equivalent ounce sold (1, 5) $ 1,006 $ 1,034 $ 990 $ 1,255
Financial Position September 30, 2021 December 31, 2020
Cash and cash equivalents $ 862,786 $ 860,637
Current assets $ 1,488,534 $ 1,424,522
Total assets $ 5,193,642 $ 5,244,986
Current liabilities $ 232,893 $ 248,933
Total liabilities $ 1,299,201 $ 1,305,083
Working capital (3) $ 1,255,641 $ 1,175,589
(1) The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted basic attributable net income per share, cash
costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. See "Non-GAAP Financial Measures" in Section 12 of
the MD&A.
(2) Gross margin is defined as income from mine operations divided by revenue.
(3) Working capital is defined as current assets less current liabilities.
(4) Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate.
(5) Gold equivalent ounces have been established using the average realized metal prices per ounce of precious metals sold in the period and applied to
the recovered silver metal content produced by the mines. Zinc and lead production are not included in gold equivalent ounces produced.

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