SSR Mining Announces 20 — Year Life of Mine Plan for Marigold Based on Expanded 4.6 Million Ounce Mineral Reserve
For best results when printing this announcement, please click on link below: SSR Mining Announces 20-Year Life of Mine Plan for Marigold Based on Expanded 4.6 Million Ounce Mineral Reserve Npv(5%) Of $3.3 Billion And $3.8 Billion At Consensus And Spot Prices, Respectively Marigold Averages Annual Production Of 231,000 Ounces Of Gold From 2027 To 2031 Life Of Mine Gold Production Totals 3.3 Million Ounces At An Average All-in Sustaining Cost (“aisc”) Of $2,062 Per Ounce Sold ((1, 2)) Ssr Mining’s U.s. Portfolio Now Anchored By Two Multi-decade Assets In Marigold And Cc&v Hosting Total Combined Gold Mineral Reserves Of 7.3 Million Ounces, With An Additional 6.5 Million Ounces Of M&i Resources And 2.3 Million Ounces Inferred SSR Mining Inc. (Nasdaq/TSX: SSRM) (“SSR Mining”, the “Company”, “we”, “us”, or “our”) announces the results of a Technical Report Summary (“TRS”) for the Marigold Gold Complex (“Marigold”) in Nevada, USA (the “2026 Marigold TRS”). This press release features multimedia. View the full release here: Figure 1: 2026 Marigold TRS — Production Summary (in koz) Highlights of the 2026 Marigold TRS: ((1,2) After-tax NPV(5%) of $3.3 billion at consensus gold prices av
s. 3 Million Ounces Inferred SSR Mining Inc. (Nasdaq/TSX: SSRM) (“SSR Mining”, the “Company”, “we”, “us”, or “our”) announces the results of a Technical Report Summary (“TRS”) for the Marigold Gold Complex (“Marigold”) in Nevada, USA (the “2026 Marigold TRS”). This press release features multimedia.
7 million ounces of gold Mineral Reserves and first production expected in 2029 Growth capital investment over the life of mine totals $542 million, including the development of Buffalo Valley and its stand-alone heap leach facility, as well as fleet additions to support a 33% increase in overall mining rates at Marigold to an average of 138 million tonnes per annum Investment in fleet modernization and expansion will improve productivity and operational flexibility to support the multi-decade mine life at Marigold ____________________ ((1)) The Company reports non-GAAP financial measures including after-tax free cash flow to manage and evaluate its operating performance at its mines.
See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to operating cash flow, which is the most comparable GAAP financial measure. ((2)) The calculations of average annual gold production use 2027 as Year 1, since 2026 represents a partial year of operation in the TRS. 2 million ounces at an AISC of $2,005 per ounce sold. Rod Antal, Executive Chairman of SSR Mining, said, “Today’s updated life of mine plan reinforces Marigold’s position as a premier, multi-decade asset in the United States.
Over the next three years, we plan to invest in Marigold to modernize the operation for future success through fleet and heap leach pad expansions that aim to improve its operational flexibility and reliability. S. assets over that period. Longer-term, the mine is expected to average 200,000 ounces of gold production annually through 2040, delivering a more than 50% increase in life of mine production over the prior mine plan.
Investing in organic growth is one of the key pillars of our capital allocation strategy, and this TRS provides a clear pathway for us to execute on that strategy and create value for shareholders. S. Securities and Exchange Commission (“SEC”).
Table 1: 2026 Marigold TRS — Key Metrics ((3) Five-Year Profile Active Mining Total Mine Life Unit 2027 — 2031 2027 — 2040 2027 — 2050 Total Gold Production Au koz 1,153 2,816 3,208 Average Annual Gold Production Au koz 231 201 169 Total Operating Cash Flow (GAAP) $M $2,353 $4,955 $5,978 Total Capital Costs (GAAP) ((4)) $M $817 $1,133 $1,231 Total Free Cash Flow (non-GAAP) ((5)) $M $1,536 $3,822 $4,747 Average Annual Free Cash Flow $M $307 $273 $253 Cost of Sales (GAAP) $/oz sold $1,990 $1,959 $1,793 Cash Costs (non-GAAP) ((5)) $/oz sold $1,991 $1,960 $1,795 All-In Sustaining Costs (non-GAAP) ((5)) $/oz sold $2,279 $2,183 $2,005 (3)) Five-Year Profile metrics are from 2027 to 2031, Active Mining metrics are from 2027 to 2040 and Total Mine Life metrics are summed over the period of 2027 to 2050.
Average Total Mine Life metrics are calculated over the period 2027 to 2045, as residual heap leaching concludes in 2045. ((4)) Total capital costs include sustaining capital, development capital, and reclamation. ((5)) The Company reports non-GAAP financial measures including after-tax free cash flow and All-In Sustaining Cost (“AISC”) per ounce sold to manage and evaluate its operating performance at its mines. All cash flow figures are presented after tax.
See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to operating cash flow and cost of sales, which are the most comparable GAAP financial measures. Cost of sales excludes depreciation, depletion, and amortization. Table 2: 2026 Marigold TRS — After-Tax NPV Sensitivity LOM Average Gold Price $/oz $3,158 $3,553 Base Case ((6)) $4,342 $4,737 Sensitivity % -20% -10% — +10% +20% NPV5% $M $1,609 $2,471 $3,334 $4,196 $5,058 (6)) Base Case gold price assumption averages $3,948/oz over the life of mine, including the long-term gold price of $3,710/oz starting in 2031.
See “assumptions” at the end of this press release for a summary of gold prices used in the 2026 Marigold TRS. Marigold Mineral Reserves and Mineral Resources (“MRMR”) ((7) Marigold is located in southeastern Humboldt County, Nevada, United States on the Battle Mountain-Eureka trend, approximately 5 kilometers south-southwest of the town of Valmy, Nevada. The Marigold Complex includes the Marigold Mine and the Buffalo Valley and Trenton Canyon deposits. Buffalo Valley is located approximately 24 kilometers southwest of the main infrastructure at Marigold.
Since commencing operations in 1989, Marigold has produced over 5 million ounces of gold. 29 Combining Marigold with the Company’s CC&V gold mine in Colorado established SSR Mining as the third largest gold producer in the USA. Both operations now feature multi-decade mine lives and host significant Mineral Resource bases to support potential for future growth and extension. ((7)) Please see “Supplemental Mineral Reserve and Mineral Resource Information” at the end of this press release for additional details.
Mineral Resources are exclusive of Mineral Reserves. Numbers may not add due to rounding. 2026 Marigold TRS Overview Geological understanding of the Marigold Complex is supported by more than three decades of mining operations, extensive exploration programs, geologic mapping, geophysical surveys, metallurgical testing, production history, and ongoing resource definition drilling. Mining & Processing The 2026 Marigold life of mine plan features 15 years of active mining and 20 years of total production, inclusive of heap leach pad rinsing and drawdown.
The Marigold Complex mine plan outlined in the 2026 Marigold TRS has five distinct areas of mining: the main Mackay pit (including the Red Dot and DG80 areas), the North Mackay pits, the Valmy pits, the New Millennium area, and Buffalo Valley. A separate mining fleet of 8 to 10 trucks and two hydraulic shovels was initially considered for Buffalo Valley, however, procuring additional trucks and loading units in 2027 allows for accelerated waste stripping at Marigold ahead of initial development at Buffalo Valley. Peak fleet size in the 2026 Marigold TRS is 45 haul trucks, six shovels and two loaders.
This expanded fleet is then adequate to operate both Marigold and Buffalo Valley simultaneously over the life of mine and enables increased flexibility in mine planning going forward. 3:1. Stacking rates are expected to average approximately 20 million tonnes per annum at Marigold over the life of mine, while the Buffalo Valley heap leach facility is designed to accommodate stacking rates of up to 14 million tonnes per annum. 44 grams per tonne.
3 million ounces of current work-in-progress inventory recovered over the life of mine. The Buffalo Valley heap leach facility will be constructed and operated in a manner very similar to the main Marigold facility. 5 meter lifts. Following heap leaching, pregnant solution will be pumped into three Carbon-in Column (CIC) trains for adsorption.
Loaded carbon from the adsorption circuit will be transported to the Marigold elution facility for final recovery, with barren carbon then transported back to the Buffalo Valley facility. 5 kilometers of power line from the existing North Peak power line to service the project site. S. Interstate Highway 80.
Marigold is grid connected, while water for operations is supplied by three existing groundwater production wells. Mine dewatering wells are used to supplement production wells when needed. Where possible, operations at Buffalo Valley will leverage existing infrastructure at Marigold, including the maintenance facilities and administrative offices. A tailings storage facility (TSF) is present at Marigold but has been decommissioned since operations transitioned solely to heap leaching.
Operating Costs Forecasted operating cost estimates related to the development of the 2026 Marigold TRS are derived from annual budgets and historical actuals over the long life of the current operation. 78 per tonne of stacked ore. Life of mine operating costs in the 2026 Marigold TRS do not account for non-cash inventory movements and other minor non-cash items that impact the Company’s calculation of cash costs and AISC. 78 Labor and diesel are the two largest components of operating costs at Marigold.
Diesel prices for the economic analysis were based on the latest available consensus forward-looking price forecasts and compared to those used in other published studies. 00/gallon over the long-term. 5% over the life of mine. Capital Costs Total life of mine capital outlined in the 2026 Marigold TRS is $1,385 million, including $669 million in sustaining capital.
Sustaining capital costs include: Replacement of mining equipment as it reaches its economic life during the active mining period.
The majority of the mining equipment replacement costs relate to replacing haul trucks and excavators, as well as drills and mine support equipment Major equipment rebuilds and component replacement to sustain equipment availability over the life of mine Administration costs and various site infrastructure improvements Ongoing cost associated with process infrastructure Permitting costs mainly associated with dewatering infrastructure (wells, pipelines, rapid infiltration basins) that are required to manage the water table in advance of planned mine development Table 6: 2026 Marigold TRS — Total Capital Breakdown (2026+) Capital Costs Life of Mine ($M) Development Capital $542 Sustaining Capital $669 Reclamation $175 Total Capital $1,385 The life of mine growth capital at Marigold totals $542 million, including all capital associated with major leach pad expansion at Marigold, development of Buffalo Valley, and the expansion of the Marigold mining fleet.
These investments support the development and mining of Buffalo Valley, as well as enable the execution of the extended Marigold life of mine plan. Table 7: 2026 Marigold TRS — Growth Capital Breakdown (2026+) Description Life of Mine ($M) Amount (%) Mining Equipment — Expansion $265 49% Heap Leach Facilities — Expansion $57 11% Buffalo Valley Development $220 40% Growth Capital Costs as of May 1, 2026 $542 100% The costs associated with reclamation and closure activities at Marigold are estimated to be $175 million, with the majority of these costs incurred from 2038 to the end of the current life of mine plan.
3 million ounces of gold Inferred Mineral Resources across the Marigold Complex. These Mineral Resources represent potential opportunities for future conversion to Mineral Reserves. Mineral Resources in the 2026 Marigold TRS were calculated using a gold price assumption of $2,500/oz. SSR Mining continues to invest in resource development and exploration drilling across the Marigold Complex to evaluate future growth potential, particularly through the continued expansion of currently defined Mineral Reserve pits.
In 2026, SSR Mining planned for more than 10 kilometers of drilling on brownfield targets across the property, including in the underexplored southern end of the property where new discoveries could support further heap leach expansions to further optimize ore and waste movements. Additionally, potential increases to the gold price assumptions used in the calculation of Mineral Reserves and Resources could add to current MRMR totals at Marigold in the future.
((8)) Acquisition Value includes initially announced acquisition price, subsequent property acquisitions and the present value of contingent payments; Current values are rounded; “Realized Cash” means revenue less cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes; See “Non-GAAP Financial Measures” at the end of this press release for additional details. Analyst NAV based on broker consensus research as of October 5, 2026. S. dollars, unless otherwise noted.
The gold price used in the calculation of Mineral Reserves was $2,200 per ounce and the gold price used in the calculation of Mineral Resources was $2,500 per ounce. The TRS is based on gold prices of: 2026 — $4,637/oz; 2027 — $4,794/oz; 2028 — $4,616/oz; 2029 — $4,355/oz; 2030 — $3,991/oz; and long-term — $3,710/oz. 00/gal long-term. All references to tonnage in this press release are in metric tonnes unless otherwise noted.