ARIS MINING REPORTS Q3 2024 RESULTS WITH HIGHER GOLD PRODUCTION, INCREASED MARGIN GENERATION AT SEGOVIA AND PRO FORMA $266 MILLION CASH BALANCE

All amounts are expressed in US dollars unless otherwise indicated.

VANCOUVER, BC , Nov. 12, 2024 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces its full financial and operating results for the three and nine months ended September 30, 2024 (Q3 2024 and YTD 2024, respectively).


Q3 2024

Q2 2024

YTD 2024

Gold production (ounces) (Segovia & Marmato)

53,608

49,216

153,591

Segovia All-in Sustaining Cost per Ounce Sold (AISC/oz)

$1,540

$1,571

$1,515

EBITDA[1]

$27.8M

$30.8M

$80.9M

Adjusted EBITDA1

$43.0M

$36.1M

$107.5M

Net earnings (loss)

$(2.2)M or ($0.01)/share

$5.7M or $0.04/share

$2.7M or $0.02/share

Adjusted earnings1

$12.9M or $0.08/share

$12.7M or $0.08/share

$31.0M or $0.20/share

Neil Woodyer, CEO of Aris Mining, commented: "In the third quarter of this year we achieved a 9% increase in total gold production over the prior quarter and demonstrated effective cost management at Segovia, as illustrated in Figure 1, with an AISC of $1,540 per ounce sold.  The combination of higher gold prices, increased production, and effective cost control led to a 37% increase in AISC margin at Segovia, reaching $44.1 million compared to $32.2 million in Q2, as shown in Figure 2. Our operational focus remains on generating cash flow while advancing our expansion projects at Segovia and Marmato. Over the past 12 months, we have generated Adjusted EBITDA of $147.2 million.

Following Q3, we refinanced our existing $300 million 6.875% Notes with a new 5-year $450 million 8.000% Notes deal, increasing cash reserves and extending maturity. Our current pro forma cash balance has increased to $266 million following the refinancing and receipt of a stream funding installment, as shown in Figure 3. We are well-positioned and funded to deliver on our growth strategy."

___________________________

1  EBITDA, adjusted EBITDA, adjusted (net) earnings 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 interim financial statements.

Segovia Operations Review

  • AISC margins at the Segovia Operations continued to improve to $44.1 million in Q3 compared to $32.2 million in Q2. The improvement was driven by rising gold prices, increased gold production and lower AISC costs of $1,540 per ounce.
  • We operate our own mines and collaborate with community-based mining partners, referred to as Contract Mining Partners (CMPs), to increase our total gold production. Some partners work within our infrastructure, while others manage their own mining operations on our tenements. In addition, we purchase high grade mill feed from third-party contractors operating off-title, which further optimizes production and increases operating margins.
  • Cash costs for Owner Mining and On-Title CMPs were $1,145 per ounce, representing a 5% improvement over Q2 2024. This cost reduction was driven by increased production, partially offset by a rise in realized gold prices which negatively impacted the cost of CMP-purchased mill feed.
  • Similarly, purchase and processing costs for high grade mill feed delivered by off-title CMPs increased in Q3 to $1,834 per ounce from $1,790 per ounce in Q2. The increase reflects higher realized gold prices, partially offset by lower average grades of 28.5 g/t Au compared to 29.1 g/t Au in Q2.
  • The Third-Party off-title CMP segment of our business maintained a strong sales margin of $4.9 million in Q3 2024, up from $3.8 million in Q2 2024.

Total Segovia Operating Information

Q3 2024

Q2 2024

Q1 2024

% Change
(Q3 vs Q2)

YTD 2024

Average realized gold price ($/ounce sold)

2,457

2,308

2,061

6 %

2,280

Tonnes milled (t)

166,868

155,912

154,425

7 %

477,205

Average tonnes milled per day (tpd)

1,940

1,834

1,817

6 %

1,864

Average gold grade processed (g/t)

9.23

9.14

9.42

1 %

9.26

Gold produced (ounces)

47,493

43,705

44,908

9 %

136,106

Cash costs ($/ounce sold)1

1,257

1,299

1,162

3 %

1,239

AISC – total ($/ounce sold)1

1,540

1,571

1,434

2 %

1,515

Segovia Operating Information by Segment

Q3 2024

Q2 2024

Q1 2024

% Change
(Q3 vs Q2)

YTD 2024







Owner Mining & On-title CMPs






Gold produced (ounces)

39,921

36,400

39,915

10 %

116,236

Gold sold (ounces)

40,248

36,117

40,253

11 %

116,618

Cash costs per ounce sold – ($ per oz sold)1

1,145

1,201

1,134

5 %

1,158

AISC/oz sold - ($ per oz sold)1

1,483

1,527

1,439

3 %

1,482

AISC sales margin (%)1,2

40 %

34 %

30 %


35 %

AISC margin ($'000)1

39,199

28,388

25,064

38 %

92,650

Third-Party Purchased Material (off-title CMPs)






Gold produced (ounces)

7,572

7,305

4,993

4 %

19,870

Gold sold (ounces)

7,811

7,248

5,036

8 %

20,095

Purchase & processing cost per ounce ($ per oz sold)1

1,834

1,790

1,386

-2 %

1,706

Third-Party sales margin (%)1,2

25 %

23 %

33 %


25 %

Third-Party sales margin ($'000)1,2

4,868

3,785

3,403

29 %

12,056

1   Non-GAAP financial measures, refer to the Non-GAAP Measures section for a full reconciliation to the most directly comparable financial measure disclosed in the Interim Financial Statements.

2   Sales margin is calculated as AISC margin over revenues as disclosed above, sales margin is considered by management to be a useful metric of the operations' profitability.

Segovia Expansion Project

  • As announced in Q4 2023, the Segovia expansion project aims to increase processing capacity from 2,000 to 3,000 tonnes per day and is progressing as scheduled.
  • Phase 1 of the Segovia expansion is complete with the newly expanded receiving area for our CMPs fully commissioned and handed over to operations. The new facility began processing material in October 2024.
  • Phase 2, which involves installing a second ball mill in the former contractor receiving area, is underway and scheduled for completion in Q1 2025, followed by a ramp-up period to reach a production rate of 3,000 tpd in the second half of 2025. The new ball mill is expected to increase throughput and gold production by enabling finer grinding and process efficiency.
  • The total cost of the expansion project is estimated at $15 million, with $8 million spent as of September 30, 2024.

Marmato Lower Mine Expansion

  • Aris Mining commenced construction of the new Marmato Lower Mine in Q3 2023 following the receipt of environmental permits in July 2023. The Lower Mine will access wider porphyry mineralization below the Upper Mine, with both mines estimated to produce a combined 162,000 ounces of gold per year over a 20-year mine life.2
  • The site access road and portal face were completed in Q3 2024 and the contractor is preparing to initiate work on the twin declines. Both the semi-autogenous grinding (SAG) and ball mill fabrication are progressing on schedule for completion before the end of 2024.
  • As of the end of September 2024, the estimated cost to complete the Lower Mine construction was $235 million, of which $122 million will be funded by existing stream financing commitments; resulting in $113 million of cost to complete on a net basis. On November 6, 2024, Aris Mining received the first $40 million milestone payment under its streaming agreement. Further payments of $40 million and $42 million are expected to be received upon reaching the 50% and 75% construction spend milestones, respectively, next year.

Marmato Lower Mine – Construction Budget

US$ million

Total Construction Budget

280

Less: spend to date (as of September 30, 2024)

46

Estimated cost to complete (as of September 30, 2024)

235

Remaining stream financing (at 50% and 75% completion)

82

Net construction budget to be funded by Aris Mining

153

1 Relates to costs directly associated with the construction of the plant, mining and other surface infrastructure of the Marmato Lower Mine Project, exclusive of costs associated with other ancillary activities supporting the wider Marmato Mine complex.

Aris Mining's condensed consolidated interim financial statements for the three and nine months ended September 30, 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 interim financial statements are available free of charge by written request to info@aris-mining.com.

Q3 2024 Conference Call Details

Management will host a conference call on Wednesday, November 13, 2024, at 9:00 am ET/6:00 am PT to discuss the results. The call will be webcast and can be accessed at Webcast | Q3 2024 Results Conference Call (choruscall.com).

Participants may gain expedited access to the conference call by registering at Diamond Pass Registration (dpregister.com). Upon registering, 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.

Participants who prefer to dial-in and speak with a live operator, can access the call by dialing:

  • Toll-free North America: +1-844-763-8274
  • International: +1-647-484-8814

After the call, an audio recording will be available via telephone until end of day November 20, 2024. The recording can be accessed by dialing:

  • Toll-free in the US and Canada: +1-855-669-9658
  • International: +1-412-317-0088; and using the access code: 9996142

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

_____________________

2  Refer to the pre-feasibility study on the Marmato Lower Mine Project with an effective date of June 30, 2022, see Section "Qualified Person and Technical Disclosure" 

About Aris Mining

Aris Mining is a gold producer in Latin America, currently operating two mines with expansions underway in Colombia. The Segovia Operations and the Marmato Upper Mine produced 226,000 ounces of gold in 2023. Aris Mining is targeting a production rate of approximately 500,000 ounces of gold per year in the second half of 2026, following a ramp-up period after the Segovia mill expansion scheduled for completion in Q1 2025 and the Marmato Lower Mine's first gold pour in late 2025. Aris Mining also operates the 51% owned Soto Norte joint venture, where studies are underway on a new, smaller scale development plan, with results expected in early 2025. In Guyana, Aris Mining is advancing Toroparu, a gold/copper project. Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification.

Aris Mining promotes the formalization of small-scale mining units into contract mining partners as this process enables all miners to operate in a legal, safe and responsible manner that protects them and the environment.

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 Financial Measures

Free cash flow, cash costs ($ per oz sold), AISC ($ per oz sold), EBITDA, adjusted EBITDA, adjusted (loss)/earning, sustaining capital and expenditures on growth capital are non-GAAP financial measures and non-GAAP ratios. These 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" section of the Company's Management's Discussion and Analysis for the three and nine months ended September 30, 2024 and 2023 (MD&A). The MD&A is incorporated by reference into this news release and is 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.

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 Q3 2024 interim financial statements.

Cash costs per ounce

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


Three months ended Sept 30, 2024

Three months ended June 30, 2024

($000s except per ounce amounts)

Segovia

Marmato

Total

Segovia

Marmato

Total

Total gold sold (ounces)

48,059

5,710

53,769

43,366

6,103

49,469

Cost of sales1

66,570

16,673

83,243

62,282

14,712

76,994

Less: royalties1

(3,506)

(1,343)

(4,849)

(3,078)

(1,126)

(4,204)

Add: by-product revenue1

(2,665)

(613)

(3,278)

(2,862)

(153)

(3,015)

Total cash costs

60,399

14,717

75,116

56,342

13,433

69,775

Total cash costs ($ per oz gold sold)

$1,257



$1,299



Total cash costs including royalties

63,905



59,420



Total cash costs including royalties

($ per oz gold sold)

$1,330



$1,370





Three months ended March 31, 2024

Nine months ended Sept 30, 2024

($000s except per ounce amounts)

Segovia

Marmato1

Total

Segovia

Marmato1

Total

Total gold sold (ounces)

45,288

5,756

51,044

136,712

17,570

154,282

Cost of sales1

57,949

13,384

71,333

186,801

44,769

231,570

Less: royalties1

(3,008)

(1,084)

(4,092)

(9,592)

(3,553)

(13,145)

Add: by-product revenue1

(2,318)

(112)

(2,430)

(7,845)

(878)

(8,723)

Total cash costs

52,623

12,188

64,811

169,364

40,338

209,702

Total cash costs ($ per oz gold sold)

$1,162



$1,239



Total cash costs including royalties

55,631



178,956



Total cash costs including royalties

($ per oz gold sold)

$1,228



$1,309



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

Cash costs per ounce



Three months ended Sept 30, 2024

Three months ended June 30, 2024

($000s except per ounce amounts)


Owner & On-
title CMP

Off-title CMP

Total

 Owner & On-
title CMP

Off-title CMP

Total

Total gold sold (ounces)


40,248

7,811

48,059

36,117

7,248

43,365

Cost of sales1


52,245

14,325

66,570

49,304

12,977

62,282

Less: royalties1


(3,506)

(3,506)

(3,078)

(3,078)

Add: by-product revenue1


(2,665)

(2,665)

(2,862)

(2,862)

Total cash costs


46,073

14,325

60,399

43,364

12,977

56,342

Total cash costs ($ per oz gold sold)


$1,145

$1,834

$1,257

$1,201

$1,790

$1,299



Three months ended Mar 31, 2024

Nine months ended Sept 30, 2024

($000s except per ounce amounts)


Owner & On-
title CMP

Off-title CMP

Total

On-title CMP

Off-title CMP

Total

Total gold sold (ounces)


40,253

5,035

45,287

116,618

20,095

136,712

Cost of sales1


50,968

6,980

57,948

152,518

34,283

186,801

Less: royalties1


(3,008)

(3,008)

(9,592)

(9,592)

Add: by-product revenue1


(2,318)

(2,318)

(7,845)

(7,845)

Total cash costs


45,643

6,980

52,622

135,080

34,283

169,363

Total cash costs ($ per oz gold sold)


$1,134

$1,386

$1,162

$1,158

$1,706

$1,239

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

All-in sustaining costs (AISC)

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


Three months ended Sept 30, 2024

Three months ended June 30, 2024

($000s except per ounce amounts)

Segovia

Marmato

Total

Segovia

Marmato

Total

Total gold sold (ounces)

48,059

5,710

53,769

43,366

6,103

49,469

Total cash costs

60,399

14,717

75,116

56,342

13,433

69,775

Add: royalties1

3,506

1,343

4,849

3,078

1,126

4,204

Add: social programs1

4,294

185

4,479

2,120

151

2,271

Add: sustaining capital expenditures

5,423

938

6,361

6,224

782

7,006

Add: lease payments on sustaining capital

389

-

389

364

364

Total AISC

74,011

17,183

91,194

68,128

15,492

83,620

Total AISC ($ per oz gold sold)

$1,540



$1,571











Three months ended March 31, 2024

Nine months ended Sept 30, 2024

($000s except per ounce amounts)

Segovia

Marmato

Total

Segovia

Marmato

Total

Total gold sold (ounces)

45,288

5,756

51,044

136,712

17,570

154,282

Total cash costs

52,623

12,188

64,811

169,364

40,338

209,702

Add: royalties1

3,008

1,084

4,092

9,592

3,553

13,145

Add: social programs1

2,289

1,166

3,455

8,703

1,502

10,205

Add: sustaining capital expenditures

6,496

824

7,320

18,143

2,544

20,687

Add: lease payments on sustaining capital

506

506

1,259

-

1,259

Total AISC

64,922

15,262

80,184

207,061

47,937

254,998

Total AISC ($ per oz gold sold)

$1,434



$1,515










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

All-in sustaining costs (AISC)


Three months ended Sept 30, 2024

Three months ended June 30, 2024

($000s except per ounce amounts)

Owner Mining
& On-title CMP

Off-title CMP

Total Segovia

Owner Mining
& On-title CMP

Off-title CMP

Total Segovia

Total gold sold (ounces)

40,248

7,811

48,059

36,117

7,248

43,365

Total cash costs

46,073

14,325

60,399

43,364

12,977

56,341

Add: royalties1

3,506

3,506

3,078

3,078

Add: social programs1

4,294

4,294

2,120

2,120

Add: sustaining capital expenditures

5,423

5,423

6,224

6,224

Add: lease payments on sustaining capital

389

389

364

364

Total AISC

59,685

14,325

74,011

55,150

12,977

68,127

Total AISC ($ per oz gold sold)

$1,483

$1,834

$1,540

$1,527

$1,790

$1,571









Three months ended March 31, 2024

Nine months ended Sept 30, 2024

($000s except per ounce amounts)

Owner Mining
& On-title CMP

Off-title CMP

Total Segovia

Owner Mining
& On-title CMP

Off-title CMP

Total Segovia

Total gold sold (ounces)

40,253

5,035

45,287

116,618

20,095

136,712

Total cash costs

45,643

6,980

52,623

135,080

34,283

169,363

Add: royalties1

3,008

3,008

9,592

9,592

Add: social programs1

2,289

2,289

8,703

8,703

Add: sustaining capital expenditures

6,496

6,496

18,143

18,143

Add: lease payments on sustaining capital

506

506

1,259

1,259

Total AISC

57,942

6,980

64,922

172,777

34,283

207,060

Total AISC ($ per oz gold sold)

$1,439

$1,386

$1,434

$1,482

$1,706

$1,515

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

Additions to mineral interests, plant and equipment


Three months ended,

Nine months ended,

($'000)

Sept 30, 2024

June 30, 2024

March 31, 2024

Sept 30, 2024

Sustaining capital





Segovia Operations

5,423

6,224

6,496

18,143

Marmato Upper Mine

938

782

824

2,544

Total

6,361

7,006

7,320

20,687

Non-sustaining capital





Segovia Operations

16,962

16,284

11,023

44,269

Toroparu Project

1,970

2,079

1,939

5,988

Marmato Lower Mine

10,825

19,143

14,865

44,833

Marmato Upper Mine

10,275

1,046

2,278

13,599

Soto Norte

5,033

-

-

5,033

Juby Project

1

1

3

5

Total

45,066

38,553

30,108

113,727

Corporate Assets

-

3,895

-

3,895

Additions to mining interest, plant and equipment1

51,427

49,454

37,428

138,309

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


Three months ended,

Nine months ended,

($000s)

Sept 30, 2024

June 30, 2024

March 31, 2024

Sept 30, 2024

Earnings (loss) before tax1

13,603

17,904

10,310

41,818

Add back:





   Depreciation and depletion1

9,019

8,082

7,519

24,620

   Finance income1

(1,351)

(1,691)

(2,246)

(5,288)

   Interest and accretion1

6,493

6,496

6,803

19,792

EBITDA

27,764

30,791

22,386

80,942

Add back:





   Share-based compensation1

2,533

1,373

1,842

5,748

   (Income) loss from equity accounting in investee1

17

2,301

552

2,871

   (Gain) loss on financial instruments1

12,842

6,144

3,742

22,728

Other (income) expense1

(428)

2,681

-

2,253

   Foreign exchange (gain) loss1

311

(7,211)

(109)

(7,010)

Adjusted EBITDA

43,039

36,079

28,413

107,531

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

Adjusted net earnings and adjusted net earnings per share


Three months ended,

Nine months ended,

($000s except shares amount)

Sept 30, 2024

June 30, 2024

March 31, 2024

Sept 30, 2024

Basic weighted average shares outstanding

169,873,924

151,474,859

138,381,653

153,304,168

Net loss1

(2,227)

5,713

(744)

2,743

Add back:





   Share-based compensation1

2,533

1,373

1,842

5,748

   (Income) loss from equity accounting in investee1

17

2,301

552

2,871

   (Gain) loss on financial instruments1

12,842

6,144

3,742

22,728

Other (income) expense1

(428)

2,681

-

2,253

   Foreign exchange (gain) loss1

310

(7,211)

(109)

(7,010)

Income tax effect on adjustments

(109)

1,738

78

1,708

Adjusted net (loss) / earnings

12,939

12,739

5,361

31,040

Per share – basic ($/share)

0.08

0.08

0.04

0.20

1.       As presented in the 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.

Unless otherwise indicated, the scientific disclosure and technical information included in this news release is based upon information included in the NI 43-101 compliant technical report entitled "Technical Report for the Marmato Gold Mine, Caldas Department, Colombia, Pre-Feasibility Study of the Lower Mine Expansion Project" dated November 23, 2022 with an effective date of September 30, 2022 (the "2022 Marmato Pre-Feasibility Study). The 2022 Marmato Pre-Feasibility Study was prepared by Ben Parsons, MAusIMM (CP), Anton Chan, Peng, Brian Prosser, PE, Joanna Poeck, SME-RM, Eric J. Olin, SME-RM, MAusIMM, Fredy Henriquez, SME, ISRM, David Hoekstra, PE, NCEES, SME-RM, Mark Allan Willow, CEM, SME-RM, Vladimir Ugorets, MMSA, Colleen Crystal, PE, GE, Kevin Gunesch, PE, Tommaso Roberto Raponi, P.Eng, David Bird, PG, SME-RM, and Pamela De Mark, P.Geo., each of whom is a "Qualified Person" as such term is defined in NI 43-101, and with the exception of Pamela De Mark of Aris Mining, are independent of the Company within the meaning of NI 43-101.

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 operational focus of management of the Company and expected growth strategy, the Segovia expansion project increasing processing capacity from 2,000 to 3,000 tonnes per day and the timing and projected cost thereof, the timing, implementation, projected costs and potential benefit of Phase 2 at Segovia, the timing, projected costs and potential benefit of the Marmato Lower Mine expansion project, receipt of payments under existing streaming agreements, the Company's targeted annual production rate, the development and expansion of the Soto Norte and Toroparu projects and the timing thereof and the projected benefits of the formalization of small-scale mining units into contract mining partners 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 6, 2024 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.

This news release contains information that may constitute future-orientated financial information or financial outlook information (collectively, FOFI) about the Company's prospective financial performance, financial position or cash flows, all of which is subject to the same assumptions, risk factors, limitations and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance should not be placed on FOFI. The Company's actual results, performance and achievements could differ materially from those expressed in, or implied by, FOFI. The Company has included FOFI in order to provide readers with a more complete perspective on the Company's future operations and management's current expectations relating to the Company's future performance. Readers are cautioned that such information may not be appropriate for other purposes. FOFI contained herein was made as of the date of this news release. Unless required by applicable laws, the Company does not undertake any obligation to publicly update or revise any FOFI statements, whether as a result of new information, future events or otherwise.

SOURCE Aris Mining Corporation