ARIS MINING ANNOUNCES POSITIVE PREFEASIBILITY STUDY RESULTS FOR THE SOTO NORTE GOLD PROJECT IN COLOMBIA

Executive Summary

• Aris Mining released a positive prefeasibility study (PFS) for its 51 % owned Soto Norte Gold Project in Colombia, confirming robust economics with an after‑tax NPV₅% of $2.7 bn (base case gold price $2,600/oz) and IRR of 35.4 %.
• The PFS proposes a reduced processing capacity of 3,500 tpd (down from >7,000 tpd) with 750 tpd dedicated to local community miners, supporting a 22‑year mine life and a payback period of ~2.3 years.
• Project highlights include measured & indicated resources of 39 Mt @ 5.55 g/t Au (7 Moz gold), proven & probable reserves of 20.3 Mt @ 7.00 g/t Au (4.6 Moz gold), low cash costs ($345/oz) and AISC ($534/oz), and strong by‑product credits from copper and silver.

Key Details

• Processing Design: 3,500 tpd mill capacity; 750 tpd (≥20 % of capacity) allocated to material purchased from local community miners.
• Resource Estimate (100 % basis):
• Measured & Indicated: 39.0 Mt @ 5.55 g/t Au → 7.0 Moz gold, 28.2 Moz Ag, 159.2 Mlb Cu.
• Inferred resources also disclosed (25.1 Mt @ 4.81 g/t Au).
• Reserve Estimate (100 % basis): Proven + Probable: 20.3 Mt @ 7.00 g/t Au → 4.6 Moz gold, 20.9 Moz Ag, 89.2 Mlb Cu.
• Economic Highlights (Base case $2,600/oz Au):
• After‑tax NPV₅%: $2.68 bn; IRR: 35.4 %; Payback: 2.3 years.
• Initial capital cost: $625 M (incl. pre‑production, VAT, contingency).
• Life‑of‑mine cash cost: $345/oz Au; AISC: $534/oz Au.
• Average annual gold production: 263 koz (years 2‑10); 203 koz (years 1‑21).
• EBITDA: $547 M avg (years 2‑10); $410 M avg (years 1‑21).
• Sensitivity to Gold Price: At $3,200/oz Au, NPV₅% rises to $3.56 bn and IRR to 42.1 %; payback improves to ~2.0 years.
• Environmental & Social Features: No cyanide or mercury use; 96.5 % water recycling (net demand 2.8 L/s); tailings thickening with underground backfill; rope‑conveyor ore transport; community processing capacity; extensive water protection measures.
• Next Steps: Completion of remaining environmental studies and filing for an environmental license in early 2026.

Notable Quotes

“The Soto Norte PFS outlines a project that balances scale, profitability, environmental stewardship, and community input… delivering significant long‑term value for shareholders and our community partners.” – Neil Woodyer, CEO, Aris Mining

All amounts are in U.S. dollars unless otherwise noted.