Ongoing Segovia Operations Exploration Program

VANCOUVER - Aris Mining Corporation reported on its ongoing 2023 exploration program at its Segovia Operations in Colombia. The 84,500 metre (m) exploration drilling program is now 58% complete.

Neil Woodyer, CEO, said, "Our program encompasses the exciting work of discovering new high grade vein structures near existing mine infrastructure. Drilling this year has successfully intersected 32 different mineralized vein structures at strategically spaced drill points. Additionally, given the widths and grades of vein intersections near active mining operations, this work is expected to convert mineral resources into mineral reserves and to continue Segovia's history of growth and reserve replacement. Segovia has an impressive legacy of high grade gold production from numerous large scale, narrow quartz-sulfide veins for more than 150 years. Our exploration investment continues to result in new high quality ounces and we eagerly await the results of the next phases of this program."

The Segovia Operations exploration drilling program is a comprehensive undertaking with 17 drill rigs operating in the El Silencio, Sandra K, Providencia, and Carla mines from 21 surface and underground drilling chambers. The Company has completed 48,964 m of drilling. The 2023 exploration program at the Segovia Operations has been designed to target the following objectives: reserve replacement (29,000 m budgeted), expanding resources at existing operations (39,000 m budgeted) and testing high priority exploration targets outside the current resource area but near mine infrastructure (16,500 m budgeted).

At the El Silencio Mine, 81 drillholes with full sample assays have been completed during 2023. At the 450 Vein, 16 holes with an average vein width and grade of 0.8 m at 34.09 g/t Au have been drilled into inferred mineral resource volumes. These holes are located adjacent to existing mine workings and represent an example of high impact exploration targets that can be accessed for incremental development capital. The drilling at the 450 Vein includes four wider spaced expansion holes (100 by 45 m apart), and 10 closer spaced resource conversion holes on a 40 by 40 m grid. The majority of the holes with grades and thicknesses above the economic mining cut-off assumptions at El Silencio are spatially continuous and are expected to convert inferred mineral resources to indicated resources when active mining advances to those locations. Also at the El Silencio Mine, five drillholes tested the west of the upper, western perimeter of the mine into the brownfield Manzanillo vein target. This target was mined historically on four levels and has had only 45 holes drilled by the Company since 2021. These holes were completed on a five dice pattern 100 m along strike and 45 m wide, with an average vein width and grade of 0.9 m at 17.04 g/t Au.

Additionally, the 2023 campaign includes 18 drillholes covering an 80 m wide grid pattern over a strike distance of 200 m. This work intersected the brownfield Reliquia vein target, which is located 130 m above the Manzanillo vein. Drilling at Reliquia returned an average vein width and grade of 0.7 m at 21.83 g/t Au.

At the Sandra K Mine, 32 drillholes have been completed. The 2023 program included 15 holes targeting inferred mineral resource volumes of the Sandra K Techo vein. The average vein width and grade of these holes is 0.6 m at 13.94 g/t Au. These holes are located down dip and to the east of the current mine workings and significantly expand the down dip potential of the Sandra K Techo vein. Nearly all the drillholes have sample lengths and widths above the economic mining assumptions for Sandra K and are expected to convert inferred mineral resources to indicated resources when active mining advances to those locations.

At the Providencia Mine, 23 holes have been completed. A key target is the downdip extension of the historically mined Marmajito vein, located in the hangingwall of the Providencia vein and where 51 drillholes have been completed by the Company since 2021. These holes have an average vein width and grade of 0.5 m at 13.14 g/t Au and are located on the edge of and outside inferred mineral resources, on a 100 m wide grid for 200 m along strike, with intersections completed at a 25 m by 25 m grid spacing. Most of the holes have grades and thicknesses above the mineral resource cut-off assumptions for Providencia and are expected to convert to inferred mineral resources.

At the Carla Mine, 46 drillholes have been completed. 19 holes have been completed in the La Gran Colombia vein over a 200 m strike length with an average vein width and grade of 1.2 m at 7.10 g/t Au. These holes are located to the southeast of the current mine workings, spaced between 15 and 100 m from the mining operations, with intersections completed at a 25 m by 25 m grid spacing, and are expected to convert an area of inferred resources around 85 m long by 70 m wide to indicated resources as well as provide greater accuracy of the vein location in other areas for the mine production teams.