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Aris Mining Corp

ARIS MINING REPORTS Q1 2025 RESULTS WITH RECORD ADJUSTED EARNINGS PER SHARE, OPERATIONAL STRENGTH, AND PROGRESS ON GROWTH PROJECTS

VANCOUVER, BC , May 7, 2025 /PRNewswire/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces its financial and operating results for the three months ended March 31, 2025 (Q1 2025), with a strong start to the year marked by record gold prices, solid production performance, and continued investments in growth. Adjusted earnings per share (EPS) of $0.16 is the highest full quarter result since Aris Mining was formed in September 2022.  All amounts are expressed in U.S. dollars unless otherwise indicated.

Neil Woodyer, CEO, commented "Aris Mining had a strong start to 2025, driven by solid operational execution, higher gold prices, and continued progress on our growth initiatives. At Segovia, we maintained production and high margins while advancing the plant expansion, which remains on track for commissioning in June. At Marmato, we are making steady progress on the Lower Mine development, with construction spend ramping up and plant capacity now targeting 5,000 tonnes per day. At our Toroparu Project in Guyana, we have launched a new study to update the development plan, and we look forward to demonstrating the potential of this project."

Q1 2025 Financial Performance

  • Gold revenue of $154.1 million, an increase of 47% over Q1 2024 and 4% over Q4 2024.
  • Adjusted EBITDA 1 of $66.6 million for Q1, and $201.3 million on a trailing 12-month basis, up 134% for the quarter from Q1 2024 and up 20% from Q4 2024.
  • Net earnings 2 of $2.4 million, compared to a loss of $0.7 million in Q1 2024.
  • Adjusted net earnings of $27.2 million or $0.16/share, up from $0.04/share in Q1 2024 and $0.14/share in Q4 2024. Record full quarterly adjusted EPS since Aris Mining was formed in September 2022.
  • The Company ended the quarter with a cash balance of $240 million and net debt3 of $250 million, implying a net leverage ratio of 1.2x.

Q1 2025

Q4 2024

Q1 2024

Gold production (ounces)

54,763

57,364

50,767

Segovia – Owner Mining ($/ounce sold)  

$1,482

$1,386

$1,553

Segovia – CMP AISC Margin

41 %

39 %

36 %

EBITDA

$39.7M

$66.6M

$22.4M

Adjusted EBITDA

$66.6M

$55.6M

$28.4M

Adjusted EBITDA, last 12 months

$201.3M

$163.1M

$147.8M

Net earnings (loss)2 

$2.4M or $0.01/share

$21.7M or $0.13/share

($0.7M) or ($0.01)/share

Adjusted earnings

$27.2M or $0.16/share

$24.7M or $0.14/share

$5.4M or $0.04/share

Adjusted earnings, last 12 months

$77.7M or $0.46/share

$55.9M or $0.34/share

$45.0M or $0.34/share

Q1 2025 Operational Performance

  • Gold production totaled 54,763 oz, an increase of 8% from 50,767 oz in Q1 2024 and accounting for 22% of the mid-point of the FY 2025 production guidance range of 230 koz – 275 koz. Production rates are expected to progressively increase in H2 2025 following commissioning of the Segovia plant expansion in June 2025.
  • Marmato Upper Mine produced 7,214 oz, a 23% increase over Q4 2024.
  • Segovia Operations produced 47,549 oz, supported by gold grades of 9.4 g/t and gold recoveries of 96.1%.
    • AISC margin increased to $60.9 million, a 114% increase over Q1 2024.
    • Owner Mining AISC increased to $1,482/oz (Q4 2024: $1,386; Q1 2024: $1,553), towards the lower end of the Company's full-year 2025 guidance range of $1,450 to $1,600.
    • Contract Mining Partner (CMP) sourced gold delivered a 41% AISC sales margin, outperforming the top end of the Company's full-year 2025 guidance range of 35% to 40%.
    • Total AISC increased to $1,570/oz (Q4 2024: $1,485; Q1 2024: $1,434), driven primarily by gold prices, which increased costs for purchased material from CMPs, as well as royalties and social contributions.

Total Segovia Operating Information

Q1 2025

Q4 2024

Q1 2024


Average realized gold price ($/ounce sold)

$2,855

$2,642

$2,062


Tonnes milled (t)

167,150

167,649

154,425


Average tonnes milled per day (tpd)

1,966

1,949

1,817


Average gold grade processed (g/t)

9.37

9.84

9.42


Gold produced (ounces)

47,549

51,477

44,908


Gold sold (ounces)

47,390

50,409

45,288


AISC margin – $M

60.9

58.3

28.5






Segovia Operating Information by Segment

Q1 2025

Q4 2024

Q1 2024


Owner Mining





Gold sold (ounces)

26,963

28,149

22,445


Cash costs – ($/ounce sold)

$1,123

$1,042

$1,191


AISC – ($/ounce sold)

$1,482

$1,386

$1,553


AISC margin ($M)

37.0

35.3

11.4







CMPs





Gold sold (ounces)

20,427

22,260

22,843


Cash costs – ($/ounce sold)

$1,431

$1,399

$1,133


AISC – ($/ounce sold)

$1,687

$1,610

$1,316


AISC sales margin (%)

41 %

39 %

36 %


AISC margin ($M)

23.9

23.0

17.1


Total: Owner Mining & CMP AISC Margin ($M)  

60.9

58.3

28.5


*  Aris Mining operates its own mines and contracts with community-based mining partners, referred to as Contract Mining Partners (CMPs), to increase total gold production. Some partners work within Aris Mining's infrastructure, while others manage their own mining operations on Aris Mining's titles using their own infrastructure. In addition, Aris Mining purchases high grade mill feed from third-party contractors operating off-title, which further optimizes production and increases operating margins.

Growth and Expansion Updates 

  • The Company invested $43.0 million in growth and expansion initiatives during the quarter, including:
    • $29.7 million toward the Marmato Lower Mine development; and
    • $6.4 million at Segovia to support plant expansion, underground development and exploration.
  • In Q1 2025, our operations generated $40.0 million in cash flow after sustaining capital and income tax, enabling us to internally-fund the majority of our strategic growth and expansion investments.
  • The Segovia expansion to 3,000 tonnes per day (tpd) is nearing completion, with the new ball mill to be installed in May and commissioning expected in June 2025.
  • The Marmato Lower Mine construction is progressing well, with processing plant capacity increased from 4,000 tpd to a planned 5,000 tpd:
    • decline development underway with 323 metres completed to the end of April 2025;
    • earthworks completed for the main substation platform, and continued earthworks for the process plant platform; and
    • continued arrival of equipment and materials on site, including tailings filters, cyclones and sump pumps.
  • Soto Norte Project : the Company continues to advance the new Pre-Feasibility Study, with completion expected in Q3 2025.
  • Toroparu Project: a new Preliminary Economic Assessment (PEA), prepared in accordance with National Instrument 43-101, has been commissioned to evaluate updated development options for the Toroparu project. Since updating the mineral resource estimate for Toroparu in March 2023, Aris Mining has also completed infrastructure optimization studies, strengthening the foundation for the development plan. Completion of the PEA is expected in Q3 2025.

Capital Structure Update

During Q1 2025 and through early May, Aris Mining continued to see strong participation in the exercise of its in-the-money TSX-listed ARIS.WT.A warrants, which expire on July 29, 2025. Year-to-date, the Company has received over $19.4M in proceeds from these warrant exercises, further strengthening the balance sheet and supporting growth initiatives at Segovia and Marmato.

As of May 6, 2025, Aris Mining has approximately 178.1 million common shares issued and outstanding, with 48.0 million ARIS.WT.A warrants remaining outstanding, which if fully exercised would result in the issuance of 24.0 million new Aris Mining shares and additional proceeds to the Company of C$132 million (or $96 million).

Following the expiry of the ARIS.WT.A warrants on July 29, 2025, the Company will have no remaining convertible securities outstanding, other than stock options issued under its stock option plan.

Since issuing its new $450 million senior unsecured bonds in October 2024, Aris Mining has steadily reduced both its total and net leverage ratios. As of March 31,2025, total leverage was 2.4x3 and net leverage was 1.2x3.

Endnotes

1 All references to adjusted earnings, EBITDA, adjusted EBITDA, adjusted (net) earnings, growth and expansion expenditures, cash flow after sustaining capital and income tax, cash costs and AISC are non-GAAP financial measures in this document. These measures do not have any standardized meaning prescribed under GAAP, and therefore may not be comparable to other issuers. Refer to the Non-GAAP Measures section in this document for a reconciliation of these measures to the most directly comparable financial measure disclosed in the Company's financial statements.
2 Net earnings represents net earnings attributable to owners of the company, as presented in the annual and interim financial statements for the relevant period.
3  Net debt is calculated as outstanding principal for the Senior Notes and the Gold-linked Notes, less cash.
4  Total and Net Leverage ratios are calculated by dividing total debt and net debt, respectively, by Adjusted EBITDA on a trailing 12-month basis.

Q1 2025 Conference Call Details

Management will host a conference call on Thursday, May 8, 2025, at 9:00 a.m. ET / 6:00 a.m. PT / 2:00 p.m. BST / 3:00 p.m. CEST to discuss the results.

Participants may gain expedited access to the conference call by registering at Diamond Pass Registration (dpregister.com). Once registered, call in details will be displayed on screen which can be used to bypass the operator and avoid the call queue. Registration will remain open until the end of the live conference call.

Webcast

Conference Call

  • Toll-free North America: +1-833-821-0197
  • International: +1-647-846-2328

Audio Recording

  • After the call, an audio recording will be available via telephone until the end of day on May 15, 2025.
  • Toll-free in the US and Canada: +1-855-669-9658
  • International: +1-412-317-0088; and using the access code: 3305587

A replay of the event will be archived at Events & Presentations - Aris Mining Corporation.

Aris Mining's Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2025 and 2024 and related MD&A are available on SEDAR+, in the Company's filings with the U.S. Securities and Exchange Commission (the SEC) and in the Financials section of Aris Mining's website here. Hard copies of the financial statements are available free of charge upon written request to info@aris-mining.com.

About Aris Mining

Founded in September 2022, Aris Mining was established with a vision to build a leading Latin America-focused gold mining company. Our strategy blends current production and cashflow generation with transformational growth driven by expansions of our operating assets, exploration and development projects. Aris Mining is listed on the TSX (ARIS) and the NYSE-A (ARMN) and is led by an experienced team with a track record of value creation, operational excellence, financial discipline and good corporate governance in the gold mining industry.

Aris Mining operates two underground gold mines in Colombia: the Segovia Operations and the Marmato Upper Mine, which together produced 210,955 ounces of gold in 2024. With expansions underway, Aris Mining is targeting an annual production rate of more than 500,000 ounces of gold following the ramp-up of the Segovia mill expansion, expected during the second half of 2025, and the new Marmato Mine, which is expected to start ramping up in H2 2026. In addition, Aris Mining operates the 51% owned Soto Norte joint venture, where studies are underway on a new, smaller scale development plan, with results expected by mid-2025. In Guyana, Aris Mining owns the Toroparu gold/copper project, where a new Preliminary Economic Assessment (PEA) has been commissioned.

Colombia is rich in high-grade gold deposits and Aris Mining is actively pursuing partnerships with the Country's dynamic small-scale mining sector. With these partnerships, we enable safe, legal, and environmentally responsible operations that benefit both local communities and the industry.

Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification.

Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.

Cautionary Language

Non-GAAP Measures

EBITDA, adjusted EBITDA, adjusted (net) earnings, cash cost, total leverage, net leverage and AISC are non-GAAP financial measures and non-GAAP ratios. These financial measures do not have any standardized meaning prescribed under IFRS or by Generally Accepted Accounting Principles (GAAP) in the United States, and therefore may not be comparable to other issuers. For full details on these measures and ratios refer to the "Non-GAAP Financial Measures" sections of the Company's Management's Discussion and Analysis for the three months ended March 31, 2025 and 2024 and years ended December 31, 2024 and 2023 (MD&As). The MD&As are incorporated by reference into this news release and are available at www.aris-mining.com, on the Company's profile on SEDAR+ at www.sedarplus.ca and in its filings with the SEC at www.sec.gov.

We have presented total leverage and net leverage as non-GAAP ratios in this press release. Total leverage is calculated as  the outstanding principal of the Company's debt instruments divided by trailing twelve-month adjusted EBITDA, and net leverage is calculated as net debt divided by trailing twelve-month adjusted EBITDA. We believe these ratios provide useful information to analysts, investors, and other stakeholders in assessing the Company's leverage and evaluating our balance sheet.

The tables below reconcile the non-GAAP financial measures contained in this news release for the current and comparative periods to the most directly comparable financial measure disclosed in the Company's interim financial statements for the three months ended March 31, 2025 and 2024, and Company's annual financial statements for the three months and years ended December 31, 2024 and 2023.

Quarterly cash-flow summary


Three months ended,

($000's)

Q1 2025

Q4 2024

Gold revenue

$154,142

$148,381




Total cash cost1

(72,730)

(73,688)

  Royalties

(6,359)

(5,748)

  Social contributions

(4,334)

(4,228)

  Sustaining capital

(6,589)

(6,357)

  Lease payments on sustaining capital

(480)

(567)

All in sustaining cost (AISC)1

(90,492)

(90,588)




AISC margin

63,650

57,793




Taxes paid2

(5,121)

(25,152)

General and administration expense2

(4,106)

(8,084)

Decrease (increase) in VAT receivable

(11,761)

18,906

Other changes in working capital

(3,415)

8,650

Impact of foreign exchange losses on cash balances2

768

(2,699)

After-tax adjusted sustaining margin3

40,015

49,414




Expansion and growth capital expenditure1



Marmato Lower Mine

(29,661)

(18,998)

Segovia Operations

(6,368)

(21,041)

Marmato Upper Mine

—

(5,369)

Toroparu Project

(2,411)

(1,719)

PSN

(4,566)

(3,604)

Change in accrued capital expenditures and other additions  

(5,938)

9,204

Total expansion and growth capital

(48,944)

(41,527)




Financing and other costs4



Proceeds from warrant and option exercises2

5,197

1,427

Principal repayment of Gold Notes2

(3,941)

(3,695)

Repayment of 2026 Senior Notes 2

—

(305,157)

Net proceeds from 2029 Senior Notes2

—

441,294

Precious metal stream deposit received2

—

40,016

Capitalized interest paid2

(5,031)

(3,959)

Interest (paid) received - net2

—

(5,582)

Total financing and other costs

(3,775)

164,344

Net change in cash2

(12,704)

172,231

Opening cash balance at beginning of period2

252,535

80,304

Closing cash balance at end of period2

239,831

252,535

1.  Refer to the Non-GAAP Financial Measures section for full details on cash costs ($ per oz sold), AISC ($ per oz sold), and additions to mining interests split by nature and site which are on an accrual basis.

2.  As presented in the Financial Statements and notes for the respective periods.

3.  After-tax adjusted sustaining margin is defined as operating cash flow adjusted for the receipt of the WPMI milestone payment, sustaining capital expenditures and sustaining lease payments.

4.  Financing and other costs are defined as financing activities as presented in the Financial Statements adjusted for capitalized interest paid and receipt of the WPMI milestone payment.

Cash costs per ounce

Reconciliation of total cash costs by business unit at Segovia and Marmato to the cash costs as disclosed above.


Three months ended Mar 31, 2025

   Three months ended Dec 31, 2024

($000s except per ounce amounts)

Segovia

Marmato

Total

Segovia

Marmato

Total

Total gold sold (ounces)

47,390

6,891

54,281

50,409

5,925

56,334

Cost of sales1

67,091

15,384

82,475

68,078

15,111

83,189

Less: materials and supplies inventory provision

—

—

—

(965)

(225)

(1,190)

Less: royalties1

(4,519)

(1,840)

(6,359)

(4,342)

(1,406)

(5,748)

Add: by-product revenue1

(3,073)

(313)

(3,386)

(2,308)

(255)

(2,563)

Total cash costs

59,499

13,231

72,730

60,463

13,225

73,688

Total cash costs ($ per oz gold sold)

$1,256



$1,199



Total cash costs including royalties

64,018



64,805



Total cash costs including royalties ($ per oz gold sold)  

$1,351



$1,286






Three months ended Mar 31, 2024

($000s except per ounce amounts)




Segovia

Marmato

Total

Total gold sold (ounces)




45,288

5,756

51,044

Cost of sales1




57,949

13,384

71,333

Less: materials and supplies inventory provision




—

—

—

Less: royalties1




(3,008)

(1,084)

(4,092)

Add: by-product revenue1




(2,318)

(112)

(2,430)

Total cash costs




52,623

12,188

64,811

Total cash costs ($ per oz gold sold)




$1,162



Total cash costs including royalties




55,631



Total cash costs including royalties ($ per oz gold sold)




$1,228



1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods.

Cash costs per ounce – Business Units (Segovia)



Three months ended Mar 31, 2025

Three months ended Dec 31 2024

($000s except per ounce amounts)


Owner

CMPs

Total

Owner

CMPs

Total

Total gold sold (ounces)


26,963

20,427

47,390

28,149

22,260

50,409

Cost of sales1


34,799

32,292

67,091

34,518

33,560

68,078

Less: materials and supplies inventory provision  


—

—

—

(717)

(248)

(965)

Less: royalties1


(2,783)

(1,736)

(4,519)

(2,754)

(1,588)

(4,342)

Add: by-product revenue1


(1,748)

(1,325)

(3,073)

(1,727)

(581)

(2,308)

Total cash costs


30,268

29,231

59,499

29,320

31,143

60,463

Total cash costs ($ per oz gold sold)


$1,123

$1,431

$1,256

$1,042

$1,399

$1,199




Three months ended Mar 31, 2024

($000s except per ounce amounts)





Owner

CMPs

Total

Total gold sold (ounces)





22,445

22,843

45,288

Cost of sales1





30,085

27,864

57,949

Less: royalties1





(1,677)

(1,331)

(3,008)

Add: by-product revenue1





(1,663)

(655)

(2,318)

Total cash costs





26,745

25,878

52,623

Total cash costs ($ per oz gold sold)





$1,192

$1,133

$1,162

1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods.

All-in sustaining costs (AISC)

Reconciliation of total AISC by business unit at Segovia and Marmato to the AISC as disclosed above.


Three months ended Mar 31, 2025

Three months ended Dec 31, 2024

($000s except per ounce amounts)

Segovia

Marmato

Total

Segovia

Marmato

Total

Total gold sold (ounces)

47,390

6,891

54,281

50,409

5,925

56,334

Total cash costs

59,499

13,231

72,730

60,463

13,225

73,688

Add: royalties1

4,519

1,840

6,359

4,342

1,406

5,748

Add: social programs1

4,061

273

4,334

4,063

165

4,228

Add: sustaining capital expenditures

5,856

733

6,589

5,426

931

6,357

Add: lease payments on sustaining capital  

480

—

480

567

—

567

Total AISC

74,415

16,077

90,492

74,861

15,727

90,588

Total AISC ($ per oz gold sold)

$1,570



$1,485












Three months ended Mar 31, 2024

($000s except per ounce amounts)




Segovia

Marmato

Total

Total gold sold (ounces)




45,288

5,756

51,044

Total cash costs




52,623

12,188

64,811

Add: royalties1




3,008

1,084

4,092

Add: social programs1




2,289

1,166

3,455

Add: sustaining capital expenditures




6,496

824

7,320

Add: lease payments on sustaining capital




506

—

506

Total AISC




64,922

15,262

80,184

Total AISC ($ per oz gold sold)




$1,434










1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods.

All-in sustaining costs (AISC) – Segovia by Business Unit


Three months ended Mar 31, 2025

Three months ended Dec 31, 2024

($000s except per ounce amounts)

Owner

CMPs

Total

Owner

CMPs

Total

Total gold sold (ounces)

26,963

20,427

47,390

28,149

22,260

50,409

Total cash costs

30,268

29,231

59,499

29,320

31,143

60,463

Add: royalties1

2,783

1,736

4,519

2,754

1,588

4,342

Add: social programs1

2,501

1,560

4,061

2,558

1,505

4,063

Add: sustaining capital expenditures

3,917

1,939

5,856

3,819

1,607

5,426

Add: lease payments on sustaining capital

480

—

480

567

—

567

Total AISC

39,949

34,466

74,415

39,018

35,843

74,861

Total AISC ($ per oz gold sold)

$1,482

$1,687

$1,570

$1,386

$1,610

$1,485









Three months ended Sep 30, 2024

Three months ended June 30, 2024

($000s except per ounce amounts)

Owner

CMPs

Total

Owner

CMPs

Total

Total gold sold (ounces)

22,952

25,107

48,059

20,183

23,183

43,366

Total cash costs

24,820

35,579

60,399

24,660

31,682

56,342

Add: royalties1

1,999

1,507

3,506

1,720

1,358

3,078

Add: social programs1

2,449

1,845

4,294

1,185

935

2,120

Add: sustaining capital expenditures

3,640

1,783

5,423

4,677

1,547

6,224

Add: lease payments on sustaining capital  

389

—

389

364

—

364

Total AISC

33,297

40,714

74,011

32,606

35,522

68,128

Total AISC ($ per oz gold sold)

$1,451

$1,622

$1,540

$1,616

$1,532

$1,571












Three months ended Mar 31, 2024

($000s except per ounce amounts)




Owner

CMPs

Total

Total gold sold (ounces)




22,445

22,843

45,288

Total cash costs




26,745

25,878

52,623

Add: royalties1




1,677

1,331

3,008

Add: social programs1




1,276

1,013

2,289

Add: sustaining capital expenditures




4,659

1,837

6,496

Add: lease payments on sustaining capital




506

—

506

Total AISC




34,863

30,059

64,922

Total AISC ($ per oz gold sold)




$1,553

$1,316

$1,434

1 as presented in the annual and interim financial statements and notes thereto for the respective periods.

Additions to mineral interests, plant and equipment

($'000)

Mar 31, 2025

Dec 31, 2024

Mar 31, 2024

Sustaining capital




Segovia Operations

5,856

5,426

6,496

Marmato Upper Mine

733

931

824

Total

6,589

6,357

7,320

Non-sustaining capital




Marmato Lower Mine

29,661

18,998

14,865

Segovia Operations

6,368

21,041

11,023

Soto Norte Project (PSN)

4,566

3,604

—

Marmato Upper Mine

—

5,369

2,278

Toroparu Project

2,411

1,719

1,939

Juby Project

4

34

3

Total

43,010

50,765

30,108

Corporate Assets

—

—

—

Additions to mining interest, plant and equipment1  

49,599

57,122

37,428

Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA



Three months ended,

($000s)


Mar 31, 2025

Dec 31, 2024

Sept 30, 2024

June 30, 2024

Mar 31, 2024

Earnings (loss) before tax1


21,220

37,513

13,603

17,904

10,310

Add back:







   Depreciation and depletion1


10,734

9,530

9,019

8,082

7,519

   Finance income1


(2,336)

(1,606)

(1,351)

(1,691)

(2,246)

   Interest and accretion1


10,037

21,165

6,493

6,496

6,803

EBITDA


39,655

66,602

27,764

30,791

22,386

Add back:







   Share-based compensation1


3,784

(483)

2,533

1,373

1,842

   (Income) loss from equity accounting in investee1  


14

14

17

2,301

551

   (Gain) loss on financial instruments1


16,628

(6,561)

12,842

6,144

3,742

Other (income) expense1


535

1,116

(428)

2,681

—

   Foreign exchange (gain) loss1


5,997

(5,113)

311

(7,211)

(108)

Adjusted EBITDA


66,613

55,575

43,039

36,079

28,413

1. As presented in the Annual and Interim Financial Statements and notes for the respective periods.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA

($000s)


Mar 31, 2024

Dec 31, 2023

Sept 30, 2023

June 30, 2023

Earnings (loss) before tax1


10,310

7,963

26,156

18,925

Add back:






   Depreciation and depletion1


7,519

7,535

10,938

8,825

   Finance income1


(2,246)

(2,580)

(3,672)

(2,358)

   Interest and accretion1


6,803

6,772

6,757

6,746

EBITDA


22,386

19,690

40,179

32,138

Add back:






   Share-based compensation1


1,842

2,977

528

459

   Revaluation of investments (Denarius/Aris)


—

536

—

10,023

   (Income) loss from equity accounting in investee1  


551

(3,667)

(1,062)

1,428

   (Gain) loss on financial instruments1


3,742

13,429

(374)

(11,756)

Other (income) expense1


—

(1,442)

21

35

   Foreign exchange (gain) loss1


(108)

6,685

2,285

7,237

Adjusted EBITDA


28,413

38,208

41,577

39,564

1. As presented in the Annual and Interim Financial Statements and notes for the respective periods.

Adjusted net earnings and adjusted net earnings per share





Three months ended,


($000s except shares amount)

Mar 31, 2025

Dec 31, 2024

Sept 30, 2024

June 30, 2024

Mar 31, 2024

Basic weighted average shares outstanding

171,622,649

170,900,890

169,873,924

151,474,859

138,381,653

Net earnings (loss)1

2,368

21,687

(2,074)

5,713

(744)

Add back:






   Share-based compensation1

3,784

(483)

2,533

1,373

1,842

   (Income) loss from equity accounting in investee1  

14

14

17

2,301

551

   (Gain) loss on financial instruments1

16,628

(6,561)

12,842

6,144

3,742

Other (income) expense1

535

1,116

(428)

2,681

—

Loss on extinguishment of Senior Notes

—

11,463

—

—

—

   Foreign exchange (gain) loss1

5,997

(5,113)

311

(7,211)

(108)

Income tax effect on adjustments

(2,099)

2,536

(109)

1,738

78

Adjusted net (loss) / earnings

27,227

24,659

13,092

12,739

5,361

Per share – basic ($/share)

0.16

0.14

0.08

0.08

0.04












1. As presented in the Annual and Interim Financial Statements and notes for the respective periods.

Adjusted net earnings and adjusted net earnings per share

($000s except shares amount)


Mar 31, 2024

Dec 31, 2023

Sept 30, 2023

June 30, 2023

Basic weighted average shares outstanding


138,381,653

137,313,095

137,192,545

136,229,686

Net earnings (loss)1


(744)

(5,944)

13,833

9,899

Add back:






   Share-based compensation1


1,842

2,977

528

459

   Revaluation of investments (Denarius/Aris)


—

536

—

10,023

   (Income) loss from equity accounting in investee1  


551

(3,667)

(1,062)

1,428

   (Gain) loss on financial instruments1


3,742

13,429

(374)

(11,756)

Other (income) expense1


—

(1,442)

21

35

Loss on extinguishment of Senior Notes


—

—

—

—

   Foreign exchange (gain) loss1


(108)

6,685

2,285

7,237

Income tax effect on adjustments


78

(2,221)

(796)

(2,453)

Adjusted net (loss) / earnings


5,361

10,353

14,435

14,872

Per share – basic ($/share)


0.04

0.08

0.11

0.11

1. As presented in the Annual and Interim Financial Statements and notes for the respective periods.

Qualified Person and Technical Information

Pamela De Mark, P.Geo., Senior Vice President Geology and Exploration of Aris Mining, is a Qualified Person as defined by National Instrument 43-101 (NI 43-101), and has reviewed and approved the technical information contained in this news release.

Forward-Looking Information

This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the Company's ability to deliver on its 2025 objectives, the completion timeline and expected benefit from the Sevogia expansion, the completion timeline and expected benefit from the Marmato Lower Mine construction, the expected completion date of the new pre-feasibility study for the Soto Norte Project, the completion date of the new preliminary economic assessment for the Toroparu Project, benefits to the Company from the exercise of its outstanding warrants and statements included in the "About Aris Mining" section of this news release relating to the Segovia Operations, Marmato Mine, Soto Norte Project and Toroparu Project are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.

Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 12, 2025 which is available on SEDAR+ at www.sedarplus.ca and in the Company's filings with the SEC at www.sec.gov. 

Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.

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SOURCE Aris Mining Corporation