News Bureau

March 27, 2023

SSR Mining produces gold over 623K Oz

SSR Mining Inc reports consolidated financial results for the fourth quarter and full year ended 2022. Rod Antal, President and CEO of SSR Mining, said, “We closed 2022 with a strong balance sheet and met our revised guidance targets. We are now focused on delivering strong production and free cash flow in 2023.

Full year 2022 highlights reported production of 623,819 gold equivalent ounces at cost of sales of $985 per ounce and all-in sustaining costs of $1,339 per ounce. Full-year 2022 capital returns of $158.8 million, an approximately 5.0% yield. Fourth quarter 2022 highlights said, that the production of 182,655 gold equivalent ounces at cost of sales of $1,064 per ounce.

With the release of our 2023 and three-year guidance earlier this month, we presented our expectations for a significant year-over-year production improvement and a three-year production profile targeting 700,000 gold equivalent ounces.

Our 2023 cost guidance incorporates two significant growth initiatives for the business, the ramp-up at Çöpler’s Çakmaktepe Extension where first production is expected within the year, and waste stripping activities at Marigold’s Red Dot as we aim to optimize Marigold’s longer-term production profile.

These initiatives, along with our continued advancement of the C2 expansion project at Çöpler and exploration and resource development activities across the portfolio, are key elements of our plan to sustain a longer-term production platform at or above 700,000 gold equivalent ounces annually.

Despite our continued and significant reinvestment in the business, we expect to deliver another strong year of free cash flow and capital returns to shareholders.

The Company has a number of potential key catalysts targeted for 2023, including continued work on updated mine plans at Çöpler incorporating the C2 expansion project, and at Marigold highlighting the initial contribution of the New Millennium target. All considered, we see a strong and exciting year ahead for the business.”

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