Aris Mining closes Juby project sale

Executive Summary

• Aris Mining Corp. completed the sale of its Juby gold project in Ontario to McFarlane Lake Mining Ltd. for a total consideration of US $22 million.
• The consideration comprised US $13.2 million cash and 82,023,746 McFarlane common shares (≈19.9% of post‑financing share capital) issued at C$0.15 per share.
• Proceeds support Aris Mining’s strategic focus on expanding its high‑growth gold operations in Colombia and Guyana.

Key Details

• Total consideration: US $22 million.
• Cash component: US $13.2 million received at closing.
• Equity component: 82,023,746 McFarlane Lake Mining Ltd. common shares representing ~19.9% of the post‑financing share capital on a non‑diluted basis; issued at C$0.15 per share.
• Asset sold: Juby gold project and related interests located in Ontario, Canada.
• Strategic rationale: Aligns with Aris Mining’s plan to concentrate resources on its Colombian (Segovia, Marmato) and Guyanese (Toroparu) gold assets and development projects.
• Operational context: Aris currently operates two underground mines in Colombia producing 210,955 oz of gold in 2024; targeting >500,000 oz annually after upcoming expansions (second Segovia mill H2‑2025, Marmato bulk mining zone H2‑2026).

Notable Quotes

• “This sale transaction aligns with Aris Mining's strategy to focus on its high‑growth gold operations and development projects in Colombia and Guyana.” – Mr. Oliver Dachsel, President & CEO, Aris Mining Corp.