About SSR Mining

SSR Mining Inc. and its subsidiaries (SSR Mining) operate as a precious metals mining company with four producing assets located in the United States, Türkiye, Canada and Argentina. The company is principally engaged in the operation, acquisition, exploration and development of precious metal resource properties located in Türkiye and the Americas. The company produces gold doré, as well as copper, silver, lead and zinc concentrates. The company's focus is on safe, profitable production from its Çöpler Gold Mine ('Çöpler') in Erzincan, Türkiye; Marigold mine ('Marigold') in Nevada, the U.S.A.; Seabee Gold Operation ('Seabee') in Saskatchewan, Canada; and Puna Operations ('Puna') in Jujuy, Argentina, as well as to advance, as market and project conditions permit, its principal development projects. On February 13, 2024, the company suspended all operations at its Çöpler property as a result of a significant slip on the heap leach pad (the 'Çöpler Incident'). The Çöpler Incident is a non-adjusting subsequent event. The Çöpler property is consisted of the Çöpler Mine, Greater Çakmaktepe Mine, and associated processing facilities ('Çöpler'). Both Çöpler Mine and Greater Çakmaktepe Mine are open pit gold mines located along the Tethyan belt in east-central Türkiye's Erzincan Province. Çöpler contains oxide and sulfide ores that are mined concurrently and processed through its two separate processing circuits. Gold contained in oxide ore is recovered through heap leach processing to produce gold doré with a minor by-product of copper concentrate, while gold sulfide mineralization is subjected to pressure oxidation and carbon-in-leach processing, to produce gold doré. SSR Mining owns 80% of Çöpler through a joint venture. Çöpler constitutes a single reporting segment for the company, as do Marigold, Puna, and Seabee, each of the company's three other mines. Segments The company's operations consist of four mine sites - Çöpler, located in Erzincan Province, Türkiye ('Çöpler'), Marigold, located in Nevada, the United States ('Marigold'), Seabee, located in Saskatchewan, Canada ('Seabee' or 'SGO'), and Puna, located in Jujuy Province, Argentina ('Puna') - each of which is a reportable operating segment and which are also referred to as producing assets. The company also participates in exploration and development activities at properties located in the United States, Argentina, Canada and Türkiye. Principal Products Çöpler, Marigold and Seabee produce gold doré. Doré is unrefined gold bullion bars usually consisting of in excess of 90% gold, which is subsequently refined by a third party to gold bullion. The company sells gold doré produced at Marigold and Seabee primarily to banks, and sells gold doré produced at Çöpler to the Central Bank of Türkiye. Puna produces silver, lead and zinc concentrates, which are sold to smelters or traders for further refining. The company sells lead and zinc concentrate with high silver content, through contractual arrangements with smelters and traders located in Asia and Europe. The concentrates are sold under supply contracts updated annually or as needed through spot sales, with processing fees based on the demand for the concentrates in the global marketplace. All of the company's producing properties are wholly owned except for Çöpler, which is 80% owned by SSR through a joint venture agreement. The Çöpler Property ('Çöpler') is consisted of the Çöpler Mine, Greater Çakmaktepe Mine, and associated processing facilities. Both Çöpler Mine and Greater Çakmaktepe Mine are open pit gold mines located along the Tethyan belt in east-central Türkiye's Erzincan Province. Çöpler contains oxide and sulfide ores which are mined concurrently and processed through its two separate processing circuits. Gold contained in oxide ore is recovered through heap leach processing to produce gold doré with a minor by-product of copper concentrate, while gold sulfide mineralization is subjected to pressure oxidation and carbon-in-leach processing, to produce gold doré. All operations at Çöpler have ceased following the Çöpler Incident and the company is unable to determine at this time when operations at Çöpler will resume, if at all. The Marigold Property ('Marigold') is consisted of the Marigold Mine (including Mackay, Valmy, and New Millennium), Buffalo Valley, and other minor deposits. The Marigold Mine is an open pit gold mine located along the northern margin of the Battle Mountain-Eureka Trend in Nevada, the U.S.A. Marigold is a run-of-mine heap leach operation producing gold doré. The Seabee Gold Operation ('SGO') is an underground gold mine complex located along the Trans-Hudson Corridor in east-central Saskatchewan, Canada. Seabee processes ore using gravity concentration, cyanide leaching, and carbon-in-pulp to produce gold doré. The Puna Property ('Puna') is consisted of the Chinchillas open pit mine and the Pirquitas deposit consisting of Cortaderas, Potosi breccia, Oploca, and San Miguel vein systems. Puna is a silver-lead-zinc mine complex located along the silver belt in northern Argentina in the Province of Jujuy. Puna processes ore mined from the Chinchillas mine through its Pirquitas flotation processing mill to produce a silver-lead and a zinc concentrate. Exploration and Development Amisk, Canada Exploration The Amisk property is 39,880 hectares (and 126 claims) with extensive Proterozoic-volcano-sedimentary rock assemblages that are prospective for gold-silver epithermal, gold-rich volcanogenic massive sulfide, and orogenic gold deposits. The property is located within the northern Saskatchewan, Canada. Amisk lies at the southwest exposed end of the Flin Flon Greenstone Belt, the southernmost exposure of the Trans-Hudson Orogeny. The Amisk gold deposit is hosted within the Amisk and Missi Groups rocks. To date, 322 drillholes for 58,283 meters have been completed in the Amisk property area. Hod Maden, Türkiye On May 8, 2023, the company acquired a 10% ownership interest and operatorship in the Hod Maden gold-copper project in Türkiye. SSR Mining has the option to acquire an additional 30% of Hod Maden connected to the completion of project construction spending milestones. Hod Maden is located approximately 20 kilometers south of Artvin and 130 kilometers northeast of Erzurum in northeastern Türkiye, near the border with Georgia. The Hod Maden property is 3,511 hectares (1 claim) within the Eastern Pontides tectonic belt along the south-eastern Black Sea coastline of Türkiye. The Hod Maden deposit is on the eastern margin of an extensive domain of Cretaceous-age arc-related volcanic stratigraphy, which hosts several volcanogenic massive sulfide deposits ('VMS') to the northwest, such as Çayeli. Hod Maden is structurally complex. Many faults, including low-angle and steeply dipping structures, have been identified. Significant mineralization occurs within the Hod Maden Fault Zone, a north-northeast striking corridor of gossanous and locally argillic/phyllic hydrothermally altered rock up to 300 meters wide and more than seven kilometers along strike. Locally, it has intense pyrite/chalcopyrite mineralization with a significant component of supergene clay alteration. Çöpler, Erzincan Province, Türkiye Çöpler consists of mining licenses covering mineral resources on the Çöpler, Greater Çakmaktepe (Çakmaktepe and Çakmaktepe extension), and Bayramdere deposits, mineral reserves on the Çöpler and Greater Çakmaktepe deposits, oxide and sulfide processing facilities, and supporting infrastructure. Çöpler is wholly owned by Anagold Madencilik Sanayi ve Ticaret Anonim Sirketi ('Anagold'). SSR Mining controls 80% of the shares of Anagold through a joint venture; Lidya Madencilik Sanayi ve Ticaret A.S. ('Lidya') controls 18.5%; and a bank wholly-owned by Çalik Holdings A.S. holds the remaining 1.5%. Greater Çakmaktepe is wholly owned by Kartaltepe Madencilik Sanayi ve Ticaret Anonim Sirketi ('Kartaltepe'). SSR controls 80% of the shares of Kartaltepe and Lidya holds the remaining 20%. The Kartaltepe license includes Çakmaktepe, Çakmaktepe Extension, Bayramdere, and the Mavialtin Porphyry Belt. SSR Mining is the operator of both Anagold and Kartaltepe. All of the processing facilities and operating assets are located on land owned by Anagold. In total, 80% of the Mineral Resources and 80% of the Mineral Reserves of Çöpler are owned by SSR Mining. Anagold holds mineral title and the exclusive right to engage in mining activities within the Çöpler property area. Anagold holds six granted licenses covering a combined area of approximately 16,600 hectares. Kartaltepe holds six licenses covering approximately 7,250 hectares. The total near-mine tenement package is approximately 23,850 hectares. Kartaltepe sells Anagold ore from Çakmaktepe at an agreed rate. SSR Mining holds a 2% net smelter return ('NSR') on the Kartaltepe licenses. Marigold Complex, Nevada, the United States The Marigold Complex ('Marigold') includes the Marigold Mine (including Mackay, Valmy, and New Millennium), Buffalo Valley, and other minor deposits. Marigold Mine is an open pit mining and processing operation located in Nevada, United States. SSR Mining, through its subsidiary Marigold Mining Company, is the operator of the Marigold Complex and holds a 100% interest in the property. Marigold is located in southeastern Humboldt County, in the northern foothills of the Battle Mountain Range, Nevada, the U.S. The Marigold Complex includes two main land packages, the Marigold Land Package and the Sterling Land Package (collectively, the 'Property' or 'project areas'). The Marigold Land Package encompasses approximately 10,477 hectares, including the approximately 3,296 hectares within the Marigold Mine Plan of Operations (PoO). The Sterling Land Package (9,383 hectares) includes properties associated with the Buffalo Valley Mine. Seabee Gold Operation, Saskatchewan, Canada The Seabee Gold Operation ('SGO') is an underground gold mining and milling operation, located in Saskatchewan, Canada. SSR Mining holds a 100% interest in the property through its wholly-owned subsidiary, SGO Mining Inc., which also acts as operator for SGO. SGO is consisted of seven mineral leases and 130 mineral claims that cover an area of approximately 73,820 hectares, including the Fisher Property rights. Puna, Jujuy Province, Argentina The Puna property ('Puna') comprises the Chinchillas property and the Pirquitas property, both of which are located the Jujuy Province in far north Argentina. SSR Mining holds 100% interest in Puna through its subsidiary, Puna Operations Inc., which also operates the project. The Chinchillas property is located in the Puna region of northwestern Argentina, in the province of Jujuy, department of Rinconada. The Pirquitas Property is also located in the Rinconada Department in the Province of Jujuy. The Chinchillas property is composed of three contiguous claims, totaling 2,043 hectares. The Pirquitas property comprises 54 exploitation concessions that cover an area of approximately 9,742 hectares. All the exploitation concessions are valid and in good standing. History The company was founded in 1946. It was incorporated as a company in British Columbia, Canada, in 1946 under the name Silver Standard Mines, Limited. The company changed its name to Silver Standard Mines Limited in 1979 and then to Consolidated Silver Standard Mines Limited in 1984. Further, the company changed its name to Silver Standard Resources Inc. in 1990 and to SSR Mining Inc. in 2017.