Marigold Achieves Strongest Gold Production Quarter

DENVER, CO - SSR Mining Inc. reported that fourth quarter 2024 production was 124,154 gold equivalent ounces at a consolidated cost of sales of $1,295 per payable ounce and all-in sustaining costs (AISC) of $1,857 per payable ounce. For the full year 2024, the Company produced 399,267 gold equivalent ounces at a consolidated cost of sales of $1,307 per payable ounce and AISC of $1,878 per payable ounce. As operations at Çöpler remain suspended following the Çöpler Incident, SSR Mining’s full-year AISC included $60.8 million in cash care & maintenance costs at Çöpler, or $155 per ounce of gold equivalent sold. Full-year 2024 production from Marigold, Seabee and Puna totaled 371,061 gold equivalent ounces at cost of sales of $1,317 per payable ounce and AISC of $1,542 per payable ounce. SSR Mining recognized two significant production milestones in 2024, including 5 million ounces of life of mine gold production from Marigold, achieved on December 30, 2024, as well as record full-year silver production at Puna.

In 2024, Marigold produced 168,262 ounces of gold, in line with its full-year guidance, at cost of sales of $1,457 per payable ounce and AISC of $1,711 per payable ounce. As planned, the fourth quarter of 2024 was Marigold’s strongest, with gold production of 59,702 ounces at cost of sales of $1,406 per payable ounce and AISC of $1,638 per payable ounce.

In 2024, Seabee produced 78,545 ounces of gold at cost of sales of $960 per payable ounce and AISC of $1,515 per payable ounce. Due to forest fires in the vicinity of the mine, operations at Seabee were suspended for more than 50 days. No employees were injured and the Seabee process plant and Santoy mine were not materially impacted. Operations were fully reinstated on October 11, 2024, and in the fourth quarter of 2024 Seabee produced 27,811 ounces of gold at cost of sales of $816 per payable ounce and AISC of $1,214 per payable ounce. Full-year 2024 production exceeded Seabee’s revised guidance range at costs below guidance, driven by processed grades that averaged 9.7 g/t in the fourth quarter.

Puna operations in 2024 produced 10.5 million ounces of silver, a record for the operation and meeting the top end of the mine’s previously increased full-year guidance range, at cost of sales of $16.14 per payable ounce and AISC of $15.56 per payable ounce. In the fourth quarter of 2024, silver production was 3.0 million ounces at cost of sales of $15.84 per payable ounce and AISC of $16.06 per payable ounce.

Throughout 2024, engineering studies and site preparation activities continued as the Company advances the Hod Maden project through to a construction decision. In 2024, a total of $42.1 million was spent at Hod Maden, including approximately $14.0 million in the fourth quarter. The Company expects to provide information on its anticipated 2025 capital spend at Hod Maden with its annual guidance, which is expected within the first quarter of 2025.

On May 23, 2024, the Company announced that it had closed the sale of the San Luis project to Highlander Silver Corp for which it received $5.0 million in cash on closing, and an additional up to $37.5 million in future cash contingent payments. A 4.0% net smelter return (NSR) royalty on the project was also issued to SSR Mining concurrently with closing of the transaction.

On December 6, 2024, the Company announced it had entered into a definitive purchase agreement to acquire the Cripple Creek & Victor Gold Mine (CC&V) in Colorado for $100 million in upfront cash consideration and up to $175 million in additional milestone-based payments. The CC&V transaction is aligned with SSR Mining’s long-stated focus on free cash flow generation, while continuing to diversify the portfolio through the acquisition, operation and development of long-lived, high return assets. SSR Mining expects to provide the 2025 outlook for CC&V with its annual guidance following the close of the CC&V acquisition, which is expected within the first quarter of 2025.