SSR Mining Provides July 2019 Exploration Update
VANCOUVER, July 30, 2019 - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") provides an update on its exploration activities and results at its Marigold mine in Nevada, U.S., Seabee Gold Operation in Saskatchewan, Canada and Pitarrilla project in Durango, Mexico for the period from October 1, 2018 to May 31, 2019 (the "Exploration Period").
Paul Benson, President and CEO said, "Over recent years, we have continued to invest in our business, even in times of depressed precious metals prices. We are seeing the benefits of that investment now as we enter a period of anticipated increasing production, declining cash costs and continued exploration success.
I am pleased to report that the exploration and technical work at Red Dot, at the Marigold mine, has provided increased confidence in the deposit's economics based on current assumptions, which include a gold price of $1,250 per ounce. Positively, we do not need to invest mining expansion capital considered in the Marigold Equipment Replacement Study to support Red Dot economics. Red Dot production is expected to be added to the current mine plan extending Marigold's life into the early 2030's. We continue drilling at Marigold and expect to commence soon an exploration program at the recently-acquired properties to the south of the mine. As a result, we expect to further grow Marigold's Mineral Reserves and Resources in years to come.
We have also had success at Seabee with exciting results in our Santoy Gap Hanging Wall area. We continue both infill and step out drilling and expect Santoy Gap Hanging Wall to extend the Seabee mine life. Finally, we are also announcing works aimed at expanding the Pitarrilla high grade zone, with the objective to improve the economics of that project to a double-digit IRR at spot silver price."
Highlights:
- Successful Red Dot exploration program provides opportunity to extend Marigold mine life.
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- Exploration success in 2019: Exploration drilling in 2018 and geotechnical drilling and engineering completed in 2019 support the conversion of Red Dot Mineral Resources.
- Marigold mine life extension: We expect Red Dot to extend the current Marigold life of mine plan into the early 2030's without the need for expansion capital.
- Mineral Reserves additions: We expect to report conversion of Red Dot Phases 2 and 3 Mineral Resources at year-end 2019, complementing the reported 350,000 ounces of gold Mineral Reserves at Red Dot, referred to as Phase 1, in our year-end 2018 Mineral Reserves and Mineral Resources estimate.
- Focus on Mineral Resources expansion: Exploration and permitting activities are underway at North and South Red Dot, Valmy, East Basalt and Trenton Canyon areas aimed at extending known mineralization and discovery during 2019 and beyond.
- Exploration success in 2019: Exploration drilling in 2018 and geotechnical drilling and engineering completed in 2019 support the conversion of Red Dot Mineral Resources.
- Also, at Marigold, infill drill results for the Mackay pit and the North and South Red Dot areas are expected to add to existing Mineral Reserves and Mineral Resources at year-end 2019. Drill results include:
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- At the Mackay pit, drillhole MRA6915 intersected 1.03 g/t gold over 19.8 meters from 75 meters;
- At North Red Dot, drillhole MRA6790 intersected 5.02 g/t gold over 53.3 meters from 319 meters, including 12.53 g/t gold over 19.8 meters from 352 meters; and
- At South Red Dot, drillhole MRA6929 intersected 1.70 g/t gold over 47.2 meters from 213 meters, including 3.36 g/t gold over 16.8 meters from 218 meters.
- At the Mackay pit, drillhole MRA6915 intersected 1.03 g/t gold over 19.8 meters from 75 meters;
- At the Seabee Gold Operation, brownfield drill results for the Santoy Gap Hanging Wall are expected to increase Mineral Resources at year-end. Drill results include:
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- Drillhole SUG-19-601 intersected 7.01 g/t gold over 18.2 meters true width; and
- Drillhole SUG-18-636 intersected 9.96 g/t gold over 10.7 meters true width.
- Drillhole SUG-19-601 intersected 7.01 g/t gold over 18.2 meters true width; and
- Greenfields exploration at the Seabee Gold Operation and Fisher property intersected new mineralized zones at the Batman Lake and Mac targets, respectively, where we are targeting new gold discoveries. Drill results include:
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- At the Batman Lake target, drillhole BAT-19-001 intersected 6.28 g/t gold over 1.5 meters intersected width; and
- At the Mac target, drillhole FIS-19-035 intersected 7.31 g/t gold over 1.6 meters intersected width and 3.76 g/t gold over 4.2 meters intersected width, including 13.72 g/t gold over 0.7 meters intersected width.
- At the Batman Lake target, drillhole BAT-19-001 intersected 6.28 g/t gold over 1.5 meters intersected width; and
- At the Pitarrilla project, we are reviewing drill programs and engineering studies to identify additional zones and continuity of high grade Mineral Resources with the potential to improve project economics based on current metal prices.
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- We are evaluating contractors to extend the existing underground access and drill these areas. If approved, drilling is anticipated to commence in the second half of 2020.
Marigold mine, U.S.
During the fourth quarter of 2018, drilling focused on converting Inferred Mineral Resources and adding to Mineral Resources in the Mackay pit, while drilling during 2019 has focused on increasing Mineral Resources and Mineral Reserves in the Mackay pit and the North and South extensions of Red Dot. A total of 68,965 meters was drilled during the Exploration Period. The drill program included three core holes as part of the geotechnical study for the Red Dot pit designs and nine core holes for quality control within the Red Dot deposit.
During 2019, we have received results from 98 drillholes, which, combined with the drill program completed in 2018, are expected to further expand Mineral Reserves and add to Mineral Resources at Red Dot at year-end 2019.
Drilling locations at Marigold for the Exploration Period are shown in Figure 1, with highlighted results illustrated in the east-west cross-section in Figure 2 and the north-south longitudinal section in Figure 3. Table 1 lists selected drill results for the Exploration Period, while Table 2 provides the collar coordinates and drillhole lengths.
In 2018 and 2019, we acquired four parcels totaling 130 hectares of land located within the Marigold mine land package, as stated in our news release dated June 27, 2019. One of these parcels is located near South Red Dot, as shown in Figure 1. During the Exploration Period, we intersected higher grade mineralization at South Red Dot (see Figure 3), indicating the prospectivity of this land parcel and its potential to increase our Mineral Resources estimate at Marigold at year-end 2019.
The Red Dot area contained a Mineral Resources estimate as outlined in our year-end 2017 Mineral Reserves and Mineral Resources estimate (see news release dated February 22, 2018) but did not demonstrate economic viability utilizing a $1,250 per ounce of gold price. As a result, in 2018, we initiated an extensive drill program at the Red Dot area with the goals of upgrading Mineral Resources to Mineral Reserves and increasing the amount of contained gold by improving our geological understanding and defining higher-grade structures at this area. The 2018 Red Dot area drill program was successful in that it achieved, in part, our goal of converting Red Dot Mineral Resources by adding 350,000 ounces of gold to Mineral Reserves as reported in our year-end 2018 Mineral Reserves and Mineral Resources estimate (see news release dated February 21, 2019), which we refer to as Red Dot Phase 1.
During the first half of 2019, the Red Dot exploration program focused on geotechnical drilling and engineering with the goal of declaring additional Mineral Reserves at Red Dot. We also completed preliminary pit designs and related economic evaluations referred to as the Marigold Equipment Replacement Study. These evaluations were completed with strict economic return and investment thresholds and were based on current assumptions, which include a gold price of $1,250 per ounce. Red Dot is anticipated to extend the Marigold mine life into the early 2030's, without requiring expansion of the mining fleet or the associated expansion capital.
Exploration and permitting activities are currently underway in the Mackay pit, North and South Red Dot, Valmy, East Basalt and the newly-acquired Trenton Canyon areas, aimed at extending known gold mineralization and discovery during 2019 and beyond. We expect to commence the first phase of our exploration program at the Trenton Canyon property, which lies immediately south of Marigold, in the third quarter of 2019.
Seabee Gold Operation, Canada
At the Santoy mine complex, drilling throughout the Exploration Period focused on increasing Mineral Resources and defining Mineral Reserves at the Santoy Gap Hanging Wall ("Gap HW"), Santoy 8A and Santoy 9A and 9C zones. Greenfields exploration activities at the Seabee Gold Operation and Fisher property are focused on targeting new gold discoveries at the Batman Lake and Mac areas, respectively. Over the Exploration Period, 190 drillholes totaling 75,921 meters of core drilling were completed from underground and surface programs at the properties. Underground and surface exploration is on-going.
The Gap HW drill program has realized consistent positive results from areas up and down plunge from the initial Inferred Mineral Resources outlined at year-end 2018. The Gap HW Mineral Resources are located within 250 meters of Santoy 9 mineralization and extend parallel to the Santoy decline for approximately 300 meters. Currently, the mineralized structure demonstrates a plunge length of 1,200 meters associated with a folded granodiorite sill. As of the end of the Exploration Period, we have completed 77 drillholes at Gap HW, with 44 drillholes containing resource widths and grades of more than 3 g/t gold over 3 meters. Once compiled, we expect these results to add Mineral Resources at Santoy at year-end 2019. Highlighted drill results are shown in a longitudinal section of the Santoy mine complex in Figure 4 and a cross-section of the Gap HW in Figure 5. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
During the Exploration Period, we completed 36 drillholes at Santoy 8A and 33 drillholes at Santoy 9, which aided in converting Inferred Mineral Resources to Mineral Reserves at year-end 2018. Our 2019 exploration program aims to increase Inferred Mineral Resources in these areas.
At the Batman Lake area, located 800 meters south of the Santoy mine, we completed four drillholes totaling 1,062 meters during the Exploration Period, of which three drillholes intersected a new mineralized area called the Riddler zone. This zone, averaging four meters of intercepted width, contained visible gold and exhibits plunge continuity of nearly 400 meters from 100 meters below surface. The best intercept returned 6.28 g/t gold over 1.5 meters in drillhole BAT-19-001 and demonstrates additional exploration potential within 800 meters of the Santoy mine complex, with additional drilling planned to investigate this mineralization, which remains open at depth.
At the Fisher project, our objective is to discover a new zone with potential for Inferred Mineral Resources. Work during the fourth quarter of 2018 focused on the Mac target, where we completed a drill program including ten drillholes totaling 3,552 meters. During 2019, at the Fisher project we have completed 20 drillholes totaling 7,640 meters, including a further seven drillholes and 3,522 meters at the Mac target. The program was successful in intersecting gold mineralization at the Mac vein in five drillholes with an average drilled width of two meters. Hole FIS-19-035 intercepted 3.76 g/t gold over 4.2 meters, representing the first occurrence at the Fisher project of mineable width and above cut-off grade gold mineralization.
Next exploration steps at the Seabee Gold Operation include completing exploration for additional Inferred Mineral Resources up and down plunge from the existing Gap HW Inferred Mineral Resources. We expect to evaluate Gap HW mining alternatives during 2020. Field programs targeting greenfields discovery are underway at the Seabee Gold Operation and Fisher property.
Table 3 lists selected drill results at the Santoy mine complex and the Batman Lake and Fisher project areas for the Exploration Period.
Pitarrilla Project, Mexico
The Pitarrilla project was the subject of a feasibility study completed in 2012. The feasibility study contemplated an open pit mine and capital intensive processing facilities capable of recovering silver and base metals from surface oxides, transition zone and deeper sulphide Mineral Resources using a long-term silver price of $25 per ounce.
In 2018, we evaluated a smaller scale, underground mine alternative, targeting higher-grade sulphide Mineral Resources using prevailing metals prices and lower capital, aligned with the reduced scope. While this evaluation resulted in a modest, positive return, our minimum investment criteria were not satisfied. However, the 2018 underground mine evaluation indicated that there is potential to increase the sulphide mineralization tonnage and metal grades for improved project economics with additional exploration activities. This is a result of moderately-spaced vertical exploration holes associated with the 2012 open pit mine scenario and sub-vertical structures controlling the higher-grade sulphide mineralization.
During the second quarter of 2019, we requested proposals from contractors to extend an existing exploration decline approximately 850 meters allowing for an in-fill drilling program of the Pitarrilla project sulphide Mineral Resources over an 18-month time period. We are in the process of evaluating and selecting a contractor to access and drill these Mineral Resources. If approved, drilling is expected to commence in the second half of 2020.
A cross-section for the proposed exploration drill program at the Pitarrilla project is shown in Figure 6.
Figure 1. Drillhole location plan map for the exploration drill programs at the Marigold mine, Nevada, U.S. during the Exploration Period.
Figure 2. Drill cross-section along A-A' highlighting the North Red Dot area at the Marigold mine, Nevada, U.S.
Figure 3. Drill longitudinal section along B-B' highlighting the South Red Dot area at the Marigold mine, Nevada, U.S.
Figure 4. Longitudinal section for the exploration drill program at the Santoy mine complex, Seabee Gold Operation, Saskatchewan, Canada during the Exploration Period.
Figure 5. Cross-section for the exploration drill program, looking mine grid west, at the Santoy Gap Hanging Wall, Seabee Gold Operation, Saskatchewan, Canada during the Exploration Period.
Figure 6. Cross section for the proposed exploration drill program at the Pitarrilla project, Durango, Mexico.
Table 1. Selected drillhole results from the Marigold mine, Nevada, U.S. for the Exploration Period.
| Hole ID | From | To | Width | Gold (g/t) | Area |
| MRA6780 | 376.4 | 458.7 | 82.3 | 0.47 | Red Dot |
| MRA6790 | 318.5 | 371.9 | 53.3 | 5.02 | North Red Dot |
| (including) | 352.0 | 371.9 | 19.8 | 12.53 | North Red Dot |
| MRA6793 | 158.5 | 184.4 | 25.9 | 2.80 | Mackay Pit |
| (including) | 158.5 | 166.1 | 7.6 | 8.80 | Mackay Pit |
| MRA6797 | 384.0 | 423.7 | 39.6 | 4.00 | North Red Dot |
| (including) | 385.6 | 405.4 | 19.8 | 6.59 | North Red Dot |
| MRA6800 | 391.7 | 428.2 | 36.6 | 2.27 | North Red Dot |
| (including) | 399.3 | 411.5 | 12.2 | 4.38 | North Red Dot |
| MRA6802 | 309.4 | 364.2 | 54.9 | 0.63 | North Red Dot |
| MRA6804 | 233.2 | 262.1 | 29.0 | 1.22 | Mackay Pit |
| MRA6809 | 269.7 | 304.8 | 35.1 | 0.70 | Red Dot |
| and | 335.3 | 367.3 | 32.0 | 0.99 | Red Dot |
| MRA6810 | 271.3 | 300.2 | 29.0 | 0.91 | Red Dot |
| MRA6819 | 388.6 | 413.0 | 24.4 | 0.85 | North Red Dot |
| MRA6822 | 190.5 | 221.0 | 30.5 | 0.73 | Red Dot |
| MRA6834 | 317.0 | 399.3 | 82.3 | 0.67 | Red Dot |
| and | 399.3 | 438.9 | 39.6 | 0.74 | Red Dot |
| MRA6838 | 195.1 | 211.8 | 16.8 | 2.75 | Red Dot |
| (including) | 196.6 | 205.7 | 9.1 | 4.69 | Red Dot |
| and | 281.9 | 355.1 | 73.2 | 0.44 | Red Dot |
| MRA6843 | 324.6 | 365.8 | 41.1 | 0.58 | South Red Dot |
| MRA6845 | 371.9 | 425.2 | 53.3 | 2.85 | North Red Dot |
| MRA6849 | 303.3 | 388.6 | 85.3 | 1.76 | North Red Dot |
| (including) | 349.0 | 359.7 | 10.7 | 3.93 | North Red Dot |
| MRA6855 | 312.4 | 356.6 | 44.2 | 0.61 | North Red Dot |
| MRA6856 | 150.9 | 164.6 | 13.7 | 1.91 | South Red Dot |
| MRA6859 | 309.4 | 364.2 | 54.9 | 0.49 | South Red Dot |
| MRA6862 | 361.2 | 374.9 | 13.7 | 1.49 | North Red Dot |
| MRA6870 | 435.9 | 458.7 | 22.9 | 1.52 | North Red Dot |
| MRA6871 | 333.8 | 362.7 | 29.0 | 0.90 | South Red Dot |
| MRA6878 | 225.6 | 342.9 | 117.3 | 0.31 | South Red Dot |
| MRA6894 | 214.9 | 265.2 | 50.3 | 1.07 | South Red Dot |
| MRA6900 | 4.6 | 19.8 | 15.2 | 2.07 | Mackay Pit |
| MRA6907 | 39.6 | 64.0 | 24.4 | 0.89 | Mackay Pit |
| MRA6908 | 16.8 | 35.1 | 18.3 | 1.24 | Mackay Pit |
| MRA6912 | 24.4 | 61.0 | 36.6 | 0.63 | Mackay Pit |
| MRA6915 | 74.7 | 94.5 | 19.8 | 1.03 | Mackay Pit |
| MRA6920 | 210.3 | 253.0 | 42.7 | 0.51 | South Red Dot |
| MRA6928 | 205.7 | 251.5 | 45.7 | 0.46 | South Red Dot |
| MRA6929 | 213.4 | 260.6 | 47.2 | 1.70 | South Red Dot |
| (including) | 217.9 | 234.7 | 16.8 | 3.36 | South Red Dot |
| MRA6937 | 243.8 | 309.4 | 65.5 | 0.48 | South Red Dot |
| MRA6942 | 198.1 | 265.2 | 67.1 | 0.40 | South Red Dot |
| MRA6943 | 262.1 | 303.3 | 41.1 | 0.85 | South Red Dot |
| MRA6944 | 269.7 | 310.9 | 41.1 | 0.60 | North Red Dot |
| and | 342.9 | 457.2 | 114.3 | 0.79 | North Red Dot |
| (including) | 355.1 | 371.9 | 16.8 | 3.17 | North Red Dot |
| Notes: Width in meters represents downhole intersected length, which may or may not be a true thickness of the mineralization. Drillholes presented in this table have gram-meter product greater than 20. "Width" may not equal the difference between "To" and "From" due to rounding. |
Table 2. Collar locations from the exploration drill programs at the Marigold mine, Nevada, U.S. for the Exploration Period.
| HOLE ID | UTM-N | UTM-E | Elevation | Azimuth | Dip | Length | Area |
| MRA6780 | 4507669 | 484606 | 1619 | 86 | -71 | 459 | Red Dot |
| MRA6786 | 4508647 | 484878 | 1558 | 91 | -57 | 261 | Red Dot |
| MRA6787 | 4507729 | 484922 | 1577 | 89 | -81 | 367 | Red Dot |
| MRA6788 | 4507029 | 484662 | 1608 | 86 | -75 | 428 | South Red Dot |
| MR6789 | 4507793 | 484814 | 1608 | 88 | -89 | 428 | Red Dot |
| MRA6790 | 4508005 | 484777 | 1590 | 91 | -76 | 372 | North Red Dot |
| MRA6791 | 4508157 | 485322 | 1540 | 89 | -80 | 261 | Mackay Pit |
| MRA6792 | 4508157 | 485322 | 1540 | 89 | -60 | 245 | Mackay Pit |
| MRA6793 | 4508035 | 485232 | 1539 | 91 | -80 | 245 | Mackay Pit |
| MRA6794 | 4507029 | 484754 | 1595 | 85 | -75 | 404 | South Red Dot |
| MRA6795 | 4507974 | 485331 | 1538 | 88 | -60 | 276 | Mackay Pit |
| MRA6796 | 4507974 | 485332 | 1538 | 87 | -46 | 288 | Mackay Pit |
| MRA6797 | 4507970 | 484759 | 1599 | 95 | -75 | 425 | North Red Dot |
| MRA6798 | 4507576 | 484903 | 1580 | 88 | -81 | 367 | Red Dot |
| MRA6799 | 4507908 | 484780 | 1610 | 89 | -76 | 367 | North Red Dot |
| MRA6800 | 4507939 | 484751 | 1608 | 90 | -74 | 428 | North Red Dot |
| MRA6801 | 4508282 | 484831 | 1571 | 91 | -75 | 352 | North Red Dot |
| MRA6802 | 4508003 | 484860 | 1569 | 88 | -75 | 398 | North Red Dot |
| MRA6803 | 4507303 | 485136 | 1615 | 79 | -86 | 383 | Mackay Pit |
| MRA6804 | 4507303 | 485137 | 1615 | 87 | -76 | 367 | Mackay Pit |
| MRA6805 | 4507711 | 484668 | 1612 | 91 | -80 | 372 | North Red Dot |
| MR6806 | 4508190 | 484821 | 1575 | 99 | -89 | 383 | North Red Dot |
| MRA6807 | 4508190 | 484821 | 1575 | 91 | -74 | 349 | North Red Dot |
| MRA6808 | 4507090 | 485018 | 1615 | 90 | -69 | 367 | Red Dot |
| MRA6809 | 4507425 | 484606 | 1605 | 87 | -76 | 367 | Red Dot |
| MRA6810 | 4507636 | 484906 | 1577 | 83 | -75 | 367 | Red Dot |
| MRA6811 | 4507636 | 484906 | 1577 | 83 | -65 | 367 | Red Dot |
| MRA6812 | 4507241 | 484588 | 1610 | 95 | -80 | 428 | Red Dot |
| MRA6813 | 4507413 | 485153 | 1610 | 83 | -62 | 322 | Red Dot |
| MRA6814 | 4508216 | 485507 | 1524 | 90 | -71 | 255 | Mackay Pit |
| MRA6815 | 4508188 | 485516 | 1524 | 89 | -85 | 215 | Mackay Pit |
| MRA6816 | 4507638 | 484831 | 1583 | 78 | -75 | 383 | Red Dot |
| MRA6817 | 4507152 | 484980 | 1599 | 84 | -74 | 383 | Red Dot |
| MRA6818 | 4507152 | 484980 | 1599 | 85 | -65 | 383 | Red Dot |
| MRA6819 | 4507878 | 484810 | 1616 | 90 | -74 | 413 | North Red Dot |
| MRA6820 | 4508095 | 485520 | 1523 | 88 | -64 | 215 | Mackay Pit |
| MRA6821 | 4508157 | 485398 | 1524 | 88 | -64 | 215 | Mackay Pit |
| MRA6822 | 4507633 | 485070 | 1584 | 85 | -55 | 322 | Red Dot |
| MRA6823 | 4507633 | 485071 | 1584 | 85 | -64 | 322 | Red Dot |
| MRA6824 | 4507432 | 485238 | 1629 | 91 | -71 | 337 | Mackay Pit |
| MRA6825 | 4507431 | 485238 | 1629 | 92 | -51 | 352 | Mackay Pit |
| MRA6826 | 4507610 | 485070 | 1588 | 86 | -69 | 337 | Red Dot |
| MRA6827 | 4507455 | 485240 | 1632 | 91 | -75 | 337 | Mackay Pit |
| MRA6828 | 4507576 | 485186 | 1608 | 87 | -63 | 306 | Red Dot |
| MRA6829 | 4507578 | 485011 | 1587 | 84 | -79 | 347 | Red Dot |
| MRA6830 | 4507578 | 485013 | 1587 | 93 | -69 | 328 | Red Dot |
| MRA6831 | 4507577 | 485186 | 1608 | 88 | -55 | 306 | Red Dot |
| MRA6832 | 4507577 | 485187 | 1608 | 86 | -47 | 306 | Red Dot |
| MRA6833 | 4507605 | 485170 | 1609 | 84 | -65 | 322 | Red Dot |
| MRA6834 | 4507394 | 484695 | 1595 | 84 | -79 | 443 | Red Dot |
| MRA6835 | 4507029 | 484839 | 1601 | 87 | -69 | 383 | South Red Dot |
| MRA6836 | 4507852 | 484710 | 1621 | 89 | -76 | 428 | North Red Dot |
| MRA6837 | 4507731 | 484900 | 1577 | 86 | -81 | 367 | North Red Dot |
| MRA6838 | 4507268 | 484609 | 1605 | 87 | -84 | 459 | Red Dot |
| MRA6839 | 4507721 | 484665 | 1611 | 79 | -83 | 428 | North Red Dot |
| MRA6840 | 4507029 | 485031 | 1618 | 85 | -65 | 383 | South Red Dot |
| MRA6841 | 4507029 | 485030 | 1618 | 82 | -79 | 383 | South Red Dot |
| MRA6842 | 4507608 | 484592 | 1607 | 84 | -74 | 338 | Red Dot |
| MRA6843 | 4507029 | 485031 | 1618 | 82 | -54 | 383 | South Red Dot |
| MRA6844 | 4507879 | 484742 | 1619 | 85 | -83 | 459 | North Red Dot |
| MRA6845 | 4508095 | 484743 | 1582 | 83 | -76 | 459 | North Red Dot |
| MRA6846 | 4507791 | 484722 | 1610 | 86 | -73 | 413 | North Red Dot |
| MRA6847 | 4507793 | 484673 | 1611 | 85 | -80 | 209 | North Red Dot |
| MRA6848 | 4506846 | 484970 | 1625 | 88 | -56 | 401 | South Red Dot |
| MRA6849 | 4508073 | 484808 | 1580 | 89 | -71 | 459 | North Red Dot |
| DDH6850 | 4507026 | 484885 | 1601 | 189 | -78 | 366 | Red Dot |
| DDH6851 | 4507077 | 484563 | 1609 | 59 | -71 | 362 | Red Dot |
| DDH6852 | 4507517 | 484713 | 1598 | 322 | -78 | 350 | Red Dot |
| MRA6853 | 4508154 | 484745 | 1580 | 85 | -71 | 459 | North Red Dot |
| MRA6854 | 4507853 | 484673 | 1623 | 84 | -75 | 459 | North Red Dot |
| MRA6855 | 4508157 | 484802 | 1578 | 86 | -64 | 428 | North Red Dot |
| MRA6856 | 4506694 | 485112 | 1626 | 93 | -61 | 367 | South Red Dot |
| MRA6857 | 4506692 | 484666 | 1616 | 89 | -60 | 428 | South Red Dot |
| MRA6858 | 4507671 | 484807 | 1591 | 82 | -76 | 224 | North Red Dot |
| MRA6859 | 4506994 | 484941 | 1605 | 86 | -75 | 413 | South Red Dot |
| MRA6860 | 4507850 | 484814 | 1615 | 87 | -66 | 413 | North Red Dot |
| MRA6861 | 4506994 | 484942 | 1605 | 85 | -66 | 413 | South Red Dot |
| MRA6862 | 4508126 | 484751 | 1581 | 83 | -71 | 459 | North Red Dot |
| MRA6863 | 4507946 | 484667 | 1612 | 87 | -75 | 459 | North Red Dot |
| DDH6864 | 4507212 | 484756 | 1591 | 89 | -74 | 427 | Red Dot |
| DDH6865 | 4507212 | 484808 | 1591 | 89 | -75 | 400 | Red Dot |
| MRA6866 | 4507975 | 484681 | 1612 | 86 | -75 | 386 | North Red Dot |
| MRA6867 | 4508030 | 484799 | 1586 | 85 | -75 | 306 | North Red Dot |
| DDH6868 | 4507181 | 484796 | 1592 | 88 | -65 | 426 | Red Dot |
| DDH6869 | 4507181 | 484759 | 1591 | 95 | -69 | 397 | Red Dot |
| MRA6870 | 4507919 | 484677 | 1620 | 83 | -70 | 459 | North Red Dot |
| MRA6871 | 4506692 | 484931 | 1614 | 91 | -64 | 398 | South Red Dot |
| MRA6872 | 4506788 | 485016 | 1626 | 92 | -60 | 413 | South Red Dot |
| MRA6873 | 4506814 | 484999 | 1626 | 89 | -60 | 410 | South Red Dot |
| MRA6874 | 4506878 | 484999 | 1625 | 86 | -58 | 419 | South Red Dot |
| MRA6875 | 4506731 | 485022 | 1626 | 88 | -62 | 459 | South Red Dot |
| DDH6876 | 4507181 | 484710 | 1599 | 86 | -70 | 407 | Red Dot |
| DDH6877 | 4507210 | 484698 | 1598 | 93 | -75 | 433 | Red Dot |
| MRA6878 | 4506907 | 484973 | 1625 | 88 | -70 | 428 | South Red Dot |
| MRA6879 | 4506905 | 484970 | 1625 | 86 | -50 | 419 | South Red Dot |
| MRA6880 | 4506953 | 485042 | 1621 | 109 | -45 | 325 | South Red Dot |
| MRA6881 | 4506694 | 484848 | 1608 | 88 | -60 | 413 | South Red Dot |
| MRA6882 | 4506691 | 485012 | 1626 | 88 | -60 | 416 | South Red Dot |
| MRA6883 | 4506815 | 484997 | 1626 | 93 | -44 | 355 | South Red Dot |
| MR6884 | 4506785 | 485012 | 1626 | 137 | -89 | 398 | South Red Dot |
| MRA6885 | 4506785 | 485012 | 1626 | 88 | -79 | 398 | South Red Dot |
| DDH6886 | 4507242 | 484794 | 1590 | 92 | -67 | 442 | Red Dot |
| MRA6887 | 4506729 | 485021 | 1626 | 88 | -76 | 459 | South Red Dot |
| DDH6888 | 4507242 | 484753 | 1590 | 90 | -69 | 442 | Red Dot |
| DDH6889 | 4507243 | 484688 | 1602 | 89 | -69 | 442 | Red Dot |
| MRA6890 | 4506694 | 485113 | 1626 | 88 | -49 | 337 | South Red Dot |
| MRA6891 | 4506847 | 484971 | 1625 | 88 | -66 | 440 | South Red Dot |
| MRA6892 | 4506847 | 484971 | 1625 | 86 | -44 | 459 | South Red Dot |
| MRA6893 | 4506907 | 484972 | 1625 | 89 | -60 | 428 | South Red Dot |
| MRA6894 | 4506785 | 485112 | 1625 | 90 | -55 | 306 | South Red Dot |
| MRA6895 | 4508098 | 485648 | 1495 | 267 | -85 | 215 | Mackay Pit |
| MRA6896 | 4508093 | 485649 | 1495 | 110 | -80 | 215 | Mackay Pit |
| MRA6897 | 4508095 | 485648 | 1495 | 93 | -61 | 194 | Mackay Pit |
| MRA6898 | 4508036 | 485639 | 1502 | 284 | -75 | 215 | Mackay Pit |
| MRA6899 | 4508035 | 485630 | 1503 | 283 | -51 | 245 | Mackay Pit |
| MRA6900 | 4508010 | 485570 | 1509 | 307 | -74 | 215 | Mackay Pit |
| MRA6901 | 4508010 | 485569 | 1509 | 310 | -60 | 230 | Mackay Pit |
| MR6902 | 4508010 | 485570 | 1509 | 269 | -90 | 215 | Mackay Pit |
| MRA6903 | 4508034 | 485631 | 1503 | 103 | -80 | 215 | Mackay Pit |
| MRA6904 | 4508035 | 485632 | 1502 | 86 | -49 | 194 | Mackay Pit |
| MRA6905 | 4508004 | 485574 | 1509 | 94 | -74 | 215 | Mackay Pit |
| MRA6906 | 4508004 | 485574 | 1509 | 89 | -59 | 230 | Mackay Pit |
| MRA6907 | 4507995 | 485541 | 1512 | 103 | -53 | 245 | Mackay Pit |
| MRA6908 | 4507995 | 485541 | 1512 | 98 | -70 | 215 | Mackay Pit |
| MR6909 | 4507975 | 485469 | 1519 | 217 | -89 | 230 | Mackay Pit |
| MRA6910 | 4507975 | 485470 | 1519 | 90 | -69 | 245 | Mackay Pit |
| MRA6912 | 4507943 | 485406 | 1528 | 88 | -75 | 268 | Mackay Pit |
| MR6913 | 4507943 | 485406 | 1528 | 106 | -89 | 230 | Mackay Pit |
| MRA6914 | 4507882 | 485355 | 1536 | 86 | -84 | 245 | Mackay Pit |
| MRA6915 | 4507914 | 485379 | 1532 | 93 | -69 | 245 | Mackay Pit |
| MR6916 | 4507856 | 485314 | 1541 | 128 | -89 | 203 | Mackay Pit |
| MRA6917 | 4507856 | 485314 | 1541 | 90 | -80 | 276 | Mackay Pit |
| MRA6918 | 4506655 | 485104 | 1629 | 92 | -80 | 367 | South Red Dot |
| MRA6919 | 4506654 | 485105 | 1629 | 88 | -70 | 398 | South Red Dot |
| MRA6920 | 4506654 | 485105 | 1629 | 91 | -60 | 367 | South Red Dot |
| MRA6921 | 4508217 | 485450 | 1478 | 92 | -69 | 154 | Mackay Pit |
| MRA6922 | 4508218 | 485413 | 1478 | 89 | -70 | 123 | Mackay Pit |
| MRA6923 | 4506601 | 485108 | 1629 | 90 | -80 | 319 | South Red Dot |
| MRA6924 | 4506601 | 485107 | 1629 | 91 | -65 | 370 | South Red Dot |
| MR6925 | 4506570 | 485110 | 1629 | 66 | -89 | 367 | South Red Dot |
| MRA6926 | 4506570 | 485110 | 1629 | 87 | -74 | 367 | South Red Dot |
| MR6927 | 4506634 | 485104 | 1629 | 270 | -90 | 367 | South Red Dot |
| MRA6928 | 4506551 | 485113 | 1629 | 87 | -74 | 398 | South Red Dot |
| MRA6929 | 4506570 | 485110 | 1629 | 89 | -65 | 367 | South Red Dot |
| MRA6930 | 4506551 | 485114 | 1629 | 91 | -60 | 367 | South Red Dot |
| MRA6931 | 4506725 | 485052 | 1626 | 88 | -60 | 343 | South Red Dot |
| MRA6932 | 4506754 | 485119 | 1625 | 87 | -80 | 312 | South Red Dot |
| MRA6933 | 4506662 | 485025 | 1627 | 94 | -75 | 413 | South Red Dot |
| MR6934 | 4506630 | 485015 | 1628 | 109 | -89 | 379 | South Red Dot |
| MRA6935 | 4506541 | 484991 | 1628 | 87 | -75 | 453 | South Red Dot |
| MRA6936 | 4506508 | 485046 | 1630 | 84 | -69 | 331 | South Red Dot |
| MRA6937 | 4506511 | 484991 | 1628 | 95 | -69 | 383 | South Red Dot |
| MRA6938 | 4506542 | 485047 | 1630 | 91 | -74 | 337 | South Red Dot |
| MRA6939 | 4506603 | 484982 | 1627 | 90 | -71 | 367 | South Red Dot |
| MR6940 | 4506572 | 484984 | 1628 | 87 | -90 | 367 | South Red Dot |
| MRA6941 | 4506572 | 484985 | 1628 | 86 | -70 | 392 | South Red Dot |
| MRA6942 | 4506602 | 484904 | 1615 | 92 | -70 | 383 | South Red Dot |
| MRA6943 | 4506843 | 484851 | 1606 | 87 | -74 | 416 | South Red Dot |
| MRA6944 | 4507913 | 484708 | 1623 | 84 | -70 | 459 | North Red Dot |
| MRA6945 | 4506877 | 484870 | 1606 | 91 | -70 | 422 | South Red Dot |
| MRA6946 | 4506877 | 484871 | 1606 | 93 | -46 | 413 | South Red Dot |
| MRA6947 | 4506872 | 484849 | 1604 | 86 | -79 | 428 | South Red Dot |
| MRA6948 | 4507825 | 485289 | 1545 | 91 | -78 | 221 | Mackay Pit |
| MRA6949 | 4507796 | 485267 | 1548 | 90 | -74 | 276 | Mackay Pit |
| MRA6950 | 4507796 | 485268 | 1548 | 88 | -60 | 276 | Mackay Pit |
| MRA6951 | 4507670 | 485080 | 1568 | 85 | -69 | 367 | North Red Dot |
| MRA6952 | 4508007 | 484718 | 1602 | 88 | -76 | 459 | North Red Dot |
| MRA6953 | 4508034 | 484699 | 1599 | 85 | -75 | 459 | North Red Dot |
| MR6954 | 4506752 | 484928 | 1611 | 123 | -90 | 383 | South Red Dot |
| MRA6955 | 4503250 | 485775 | 1792 | 91 | -73 | 367 | East Basalt |
| MRA6956 | 4503221 | 485762 | 1796 | 89 | -68 | 367 | East Basalt |
| MRA6957 | 4508006 | 484776 | 1590 | 84 | -66 | 459 | North Red Dot |
| MRA6958 | 4507974 | 484752 | 1601 | 85 | -67 | 459 | North Red Dot |
| MRA6959 | 4506693 | 484751 | 1605 | 92 | -60 | 413 | South Red Dot |
| MRA6960 | 4503545 | 485967 | 1838 | 90 | -65 | 367 | East Basalt |
| MRA6961 | 4503529 | 485944 | 1836 | 90 | -75 | 367 | East Basalt |
| MRA6962 | 4503529 | 485944 | 1836 | 85 | -60 | 367 | East Basalt |
| MRA6963 | 4504712 | 487137 | 1853 | 273 | -65 | 343 | Valmy |
| MR6964 | 4504651 | 487125 | 1851 | 36 | -90 | 367 | Valmy |
| MRA6965 | 4504625 | 487124 | 1851 | 263 | -58 | 383 | Valmy |
| MRA6967 | 4507943 | 484793 | 1603 | 88 | -75 | 459 | North Red Dot |
| MR6968 | 4503341 | 485894 | 1867 | 261 | -89 | 367 | East Basalt |
| MRA6969 | 4503341 | 485895 | 1867 | 88 | -79 | 367 | East Basalt |
| MRA6970 | 4503341 | 485895 | 1867 | 90 | -70 | 367 | East Basalt |
| MR6971 | 4504591 | 487116 | 1853 | 218 | -89 | 411 | Valmy |
| MR6972 | 4504589 | 487156 | 1856 | 321 | -89 | 398 | Valmy |
| MR6974 | 4505236 | 487534 | 1775 | 139 | -89 | 367 | Cross Fire |
| MR6975 | 4505205 | 487561 | 1773 | 135 | -89 | 428 | Cross Fire |
| MR6976 | 4504432 | 487363 | 1895 | 324 | -89 | 440 | Valmy |
| MRA6977 | 4504289 | 487504 | 1921 | 267 | -73 | 398 | Valmy |
| MRA6978 | 4504956 | 487459 | 1858 | 264 | -64 | 459 | Cross Fire |
| MRA6979 | 4504955 | 487455 | 1858 | 275 | -65 | 410 | Cross Fire |
| Notes: The numerical gaps in the drillhole sequence result from drillholes reported previously or drillholes expected to be drilled in 2019. Data is provided if the drillhole has a Mineral Resource intercept of at least six meters at 0.3 g/t gold. |
Table 3. Selected drillhole results from Seabee Gold Operation, Saskatchewan, Canada for the Exploration Period.
| Hole ID | From | To | Mine E | Mine N | Elevation | Gold | True Width | Zone |
| SUG-18-023 | 454.9 | 461.6 | 3754.0 | 5307.0 | -784.3 | 20.17 | 2.08 | Santoy 9A |
| SUG-18-636 | 200.6 | 213.6 | 4101.4 | 5258.6 | -423.1 | 9.96 | 10.66 | Gap HW |
| SUG-18-637 | 174.8 | 188.7 | 4120.0 | 5229.6 | -393.0 | 4.48 | 11.75 | Gap HW |
| SUG-18-638 | 196.5 | 210.0 | 4115.1 | 5255.2 | -417.5 | 6.59 | 10.16 | Gap HW |
| SUG-18-639 | 286.5 | 297.0 | 4123.9 | 5347.7 | -441.9 | 4.21 | 7.05 | Gap HW |
| SUG-18-641 | 384.0 | 390.4 | 3996.9 | 5395.7 | -550.3 | 5.33 | 1.70 | Gap HW |
| JOY-18-837 | 682.2 | 686.2 | 3674.9 | 5171.2 | -672.4 | 18.08 | 3.14 | Santoy 9A |
| JOY-18-850 | 15.2 | 15.8 | 4318.4 | 4727.5 | -1.1 | 23.50 | 0.56 | Santoy 9C |
| JOY-18-851 | 29.6 | 33.0 | 4318.8 | 4736.9 | -20.5 | 9.43 | 2.02 | Santoy 9C |
| SUG-18-967 | 160.5 | 163.6 | 4222.2 | 5287.1 | -616.7 | 18.15 | 2.38 | Santoy 8A |
| SUG-18-968 | 218.6 | 223.1 | 4226.9 | 5329.7 | -672.2 | 19.23 | 2.65 | Santoy 8A |
| SUG-18-978 | 212.7 | 220.3 | 4156.7 | 5305.9 | -663.5 | 9.78 | 5.04 | Santoy 8A |
| SUG-19-006 | 135.5 | 139.9 | 4464.5 | 5103.8 | -109.0 | 23.27 | 4.00 | Gap HW |
| SUG-19-009 | 238.9 | 244.5 | 4357.2 | 5143.7 | -168.1 | 4.88 | 2.19 | Gap HW |
| SUG-19-012 | 134.3 | 138.6 | 4482.7 | 5137.5 | -98.8 | 5.05 | 3.95 | Gap HW |
| SUG-19-013 | 210.0 | 222.2 | 4398.5 | 5176.7 | -183.5 | 9.26 | 5.30 | Gap HW |
| SUG-19-600 | 216.0 | 221.5 | 4087.6 | 5267.4 | -439.3 | 10.98 | 4.06 | Gap HW |
| SUG-19-601 | 266.0 | 313.7 | 4064.0 | 5333.0 | -481.4 | 7.01 | 18.20 | Gap HW |
| SUG-19-602 | 377.2 | 384.0 | 4018.3 | 5403.4 | -542.3 | 5.70 | 3.50 | Gap HW |
| SUG-19-604 | 507.2 | 514.5 | 4062.5 | 5552.3 | -529.6 | 8.44 | 3.95 | Gap HW |
| SUG-19-605 | 435.0 | 441.0 | 4209.1 | 5494.9 | -458.4 | 13.72 | 4.24 | Gap HW |
| SUG-19-606 | 417.5 | 420.6 | 4235.2 | 5472.3 | -435.9 | 6.28 | 2.20 | Gap HW |
| JOY-19-852 | 330.0 | 333.7 | 4192.6 | 5182.2 | -311.0 | 3.55 | 3.37 | Gap HW |
| JOY-19-855 | 298.8 | 303.6 | 4249.9 | 5183.2 | -283.5 | 12.04 | 4.06 | Gap HW |
| JOY-19-856 | 266.5 | 274.9 | 4278.5 | 5173.7 | -244.6 | 4.95 | 4.23 | Gap HW |
| JOY-19-857 | 287.1 | 290.6 | 4274.3 | 5239.0 | -284.6 | 4.20 | 3.18 | Gap HW |
| JOY-19-860 | 401.6 | 405.7 | 4197.0 | 5293.0 | -372.7 | 3.90 | 3.46 | Gap HW |
| JOY-19-866 | 176.2 | 181.2 | 4355.5 | 5082.0 | -133.4 | 4.07 | 4.93 | Gap HW |
| JOY-19-882 | 192.2 | 195.0 | 4400.8 | 5071.7 | -125.8 | 12.03 | 2.69 | Gap HW |
| JOY-19-884 | 190.0 | 199.7 | 4451.4 | 5147.6 | -129.2 | 4.28 | 9.48 | Gap HW |
| JOY-19-886 | 187.6 | 195.0 | 4445.8 | 5227.5 | -126.7 | 4.01 | 6.98 | Gap HW |
| JOY-19-887 | 86.4 | 91.4 | 4408.4 | 5047.0 | -80.9 | 4.86 | 4.51 | Gap HW |
| JOY-19-888 | 89.7 | 100.1 | 4427.0 | 5060.6 | -90.7 | 5.69 | 9.05 | Gap HW |
| JOY-19-889 | 80.5 | 86.5 | 4454.1 | 5077.7 | -72.9 | 12.95 | 4.93 | Gap HW |
| JOY-19-890 | 112.0 | 118.7 | 4491.0 | 5095.5 | -84.9 | 3.91 | 4.19 | Gap HW |
| JOY-19-891 | 560.9 | 568.0 | 3993.5 | 5541.5 | -539.0 | 9.16 | 5.80 | Gap HW |
| and | 582.0 | 585.2 | 3994.2 | 5535.2 | -557.1 | 4.38 | 2.60 | Gap HW |
| JOY-19-893 | 520.5 | 523.5 | 3955.2 | 5472.4 | -466.3 | 7.09 | 2.90 | Gap HW |
| and | 647.0 | 654.1 | 3948.3 | 5402.0 | -573.6 | 6.70 | 6.80 | Gap HW |
| JOY-19-896 | 382.7 | 389.2 | 4440.8 | 5404.1 | -364.2 | 5.73 | 3.40 | Gap HW |
| and | 490.4 | 495.0 | 4474.2 | 5381.2 | -462.9 | 3.65 | 2.50 | Gap HW |
| JOY-19-900 | 647.6 | 655.4 | 3988.4 | 5345.4 | -540.5 | 11.05 | 5.80 | Gap HW |
| SUG-19-900 | 281.5 | 283.1 | 4091.4 | 5321.0 | -708.5 | 10.32 | 0.93 | Santoy 8A |
| SUG-19-902 | 317.0 | 322.5 | 4123.3 | 5315.4 | -756.8 | 11.51 | 3.51 | Santoy 9A |
| SUG-19-903 | 380.7 | 383.9 | 4004.2 | 5304.0 | -775.8 | 8.04 | 1.78 | Santoy 9A |
| SUG-19-906 | 293.2 | 295.1 | 4131.2 | 5288.7 | -738.0 | 41.43 | 1.32 | Santoy 9A |
| BAT-19-001 3 | 113.3 | 114.8 | 600364.0 | 6168678.0 | 377.0 | 6.28 | 1.49 | Riddler |
| BAT-19-002 3 | 72.0 | 72.5 | 600343.0 | 6168732.0 | 410.0 | 6.08 | 0.50 | Riddler |
| BAT-19-003 3 | 188.6 | 189.6 | 600271.0 | 6169032.0 | 280.0 | 6.36 | 1.00 | Riddler |
| JOY-19-871 3 | 69.2 | 70.1 | 600204.0 | 6169731.0 | 376.0 | 5.77 | 0.90 | Santoy 8E |
| JOY-19-873 3 | 283.2 | 284.7 | 600029.0 | 6170017.0 | 176.0 | 5.97 | 1.50 | Santoy 8E |
| EDD-19-008 3 | 197.0 | 197.9 | 598896.0 | 6164849.0 | 251.0 | 3.57 | 0.89 | DD |
| FIS-18-021 3 | 255.2 | 255.9 | 604073.0 | 6160289.0 | 214.0 | 9.73 | 0.66 | Mac |
| FIS-19-030 3 | 138.5 | 140.0 | 604061.0 | 6160681.0 | 273.0 | 6.80 | 1.50 | Mac |
| FIS-19-035 3 | 107.5 | 109.0 | 603929.0 | 6161441.0 | 300.0 | 7.31 | 1.55 | Mac |
| and | 362.2 | 366.4 | 603787.0 | 6161422.0 | 88.0 | 3.76 | 4.18 | Mac |
| (including) | 365.6 | 366.4 | 603786.0 | 6161422.0 | 87.0 | 13.72 | 0.73 | Mac |
| Notes: Drillholes presented in this table have gram-meter product greater than 9. For the Riddler, Santoy 8E, DD and Mac areas, width in meters represents downhole intersected length, which may or may not be a true thickness of the mineralization. |
| 1 Midpoints of the intercept determined where mineralized structure intersected. |
| 2 Gold values cut to 75 g/t. |
| 3 Coordinates in UTM NAD83 Zone 13 Datum. |
Sampling and Analytical Procedures
All drill samples in respect of the Marigold mine drilling program were sent for processing and analysis to the offices of American Assay Laboratories, Inc. ("AAL") in Sparks, Nevada which is an ISO 17025 accredited laboratory independent from SSR Mining. Fire assay was completed on a 30-gram sample (AAL method code FA-PB30-ICP) with an Inductively Coupled Plasma finish after a two acid digestion. Samples with assay results greater than 10 g/t gold were fire assayed on a 30-gram sample (AAL method code Grav Au30) with a gravimetric finish. We employ a rigorous Quality Assurance/Quality Control ("QA/QC") program, which includes real-time assay quality monitoring through the regular insertion of blanks, duplicates, and certified reference material, as well as reviewing laboratory-provided QA/QC data.
All drill samples in respect of the Seabee Gold Operation drilling program were assayed by our onsite non-accredited assay laboratory, which is not independent from SSR Mining. Duplicate check assays were conducted at site as well as at TSL Laboratories Inc. in Saskatoon, Saskatchewan, which is independent from SSR Mining. Results of the spot checks were consistent with those reported. Sampling interval was established by minimum or maximum sampling lengths and geological and/or structural criteria. Two hundred gram samples were pulverized until greater than 80 percent passed through 150 mesh screen. Thirty-gram pulp samples were then analyzed for gold by fire assay with gravimetric finish (0.01 g/t gold detection limit).
Qualified Persons
The scientific and technical data contained in this news release relating to the Marigold mine has been reviewed and approved by James N. Carver, SME Registered Member and a qualified person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Carver is our Chief Geologist at the Marigold mine. The scientific and technical data contained in this news release relating to the Seabee Gold Operation has been reviewed and approved by Jeffrey Kulas, P. Geo., a qualified person under NI 43-101. Mr. Kulas is our Manager Geology, Mining Operations at the Seabee Gold Operation. The qualified persons have verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying such information, and are not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer with three operations, including the Marigold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and the 75%-owned and operated Puna Operations joint venture in Jujuy, Argentina. We also have two feasibility stage projects and a portfolio of exploration properties in North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.
For further information contact:
W. John DeCooman, Jr.
Senior Vice President, Business Development and Strategy
SSR Mining Inc.
Vancouver, BC
Toll free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@ssrmining.com
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements") concerning the anticipated developments in our operations in future periods, and other events or conditions that may occur or exist in the future. All statements, other than statements of historical fact, are forward-looking statements.
Generally, forward-looking statements can be identified by the use of words or phrases such as "expects," "anticipates," "plans," "projects," "estimates," "assumes," "intends," "strategy," "goals," "objectives," "potential," or variations thereof, or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The forward-looking statements in this news release relate to, among other things: our ability to discover and increase Mineral Resources, replace and increase Mineral Reserves, convert Mineral Resources to Mineral Reserves and convert Inferred Mineral Resources to Indicated Mineral Resources at the Marigold mine and the Seabee Gold Operation, including (a) converting Mineral Resources and adding Mineral Reserves at Red Dot at year-end 2019 and increasing Mineral Resources and Mineral Reserves at the Marigold mine at year-end 2019 and (b) increasing Mineral Resources at Santoy Gap HW at year-end 2019, increasing Inferred Mineral Resources near the Santoy mine at year-end 2019 and adding Inferred Mineral Resources at the Seabee Gold Operation and Fisher property at year-end 2019; expected timing for our exploration program at the Trenton Canyon property in the third quarter of 2019; expected timing for evaluation of Santoy GAP HW mining alternatives in 2020; our expected drill programs at each of the Marigold mine, the Seabee Gold Operation and the Pitarrilla project; estimated mine life, including anticipated extension of the mine life of the Marigold mine and the Seabee Gold Operation; estimated project economics; anticipated timing for the commencement of drilling at the Pitarrilla project in the second half of 2020; future production of gold, silver and other metals; estimated production rates for gold, silver and other metals produced by us; ongoing or future development plans and capital replacement, improvement or remediation programs; and our plans and expectations for our properties and operations.
These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, the following: uncertainty of production, development plans and cost estimates for the Marigold mine, the Seabee Gold Operation, Puna Operations and our projects; our ability to replace Mineral Reserves; commodity price fluctuations; political or economic instability and unexpected regulatory changes; currency fluctuations; the possibility of future losses; general economic conditions; counterparty and market risks related to the sale of our concentrates and metals; uncertainty in the accuracy of Mineral Reserves and Mineral Resources estimates and in our ability to extract mineralization profitably; differences in U.S. and Canadian practices for reporting Mineral Reserves and Mineral Resources; lack of suitable infrastructure or damage to existing infrastructure; future development risks, including start-up delays and cost overruns; our ability to obtain adequate financing for further exploration and development programs and opportunities; uncertainty in acquiring additional commercially mineable mineral rights; delays in obtaining or failure to obtain governmental permits, or non-compliance with our permits; our ability to attract and retain qualified personnel and management; the impact of governmental regulations, including health, safety and environmental regulations, including increased costs and restrictions on operations due to compliance with such regulations; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond our control; reclamation and closure requirements for our mineral properties; potential labour unrest, including labour actions by our unionized employees at Puna Operations; indigenous peoples' title claims and rights to consultation and accommodation may affect our existing operations as well as development projects and future acquisitions; certain transportation risks that could have a negative impact on our ability to operate; assessments by taxation authorities in multiple jurisdictions; recoverability of value added tax and Puna credits balance and significant delays in the collection process in Argentina; claims and legal proceedings, including adverse rulings in litigation against us and/or our directors or officers; compliance with anti-corruption laws and internal controls, and increased regulatory compliance costs; complying with emerging climate change regulations and the impact of climate change; fully realizing our interest in deferred consideration received in connection with recent divestitures; fully realizing the value of our shareholdings in our marketable securities, due to changes in price, liquidity or disposal cost of such marketable securities; uncertainties related to title to our mineral properties and the ability to obtain surface rights; the sufficiency of our insurance coverage; civil disobedience in the countries where our mineral properties are located; operational safety and security risks; actions required to be taken by us under human rights law; competition in the mining industry for mineral properties; our ability to complete and successfully integrate an announced acquisition; reputation loss resulting in decreased investor confidence; increased challenges in developing and maintaining community relations and an impediment to our overall ability to advance our projects; risks normally associated with the conduct of joint ventures; an event of default under our 2013 convertible notes or our 2019 convertible notes may significantly reduce our liquidity and adversely affect our business; failure to meet covenants under our senior secured revolving credit facility; information systems security threats; conflicts of interest that could arise from certain of our directors' and officers' involvement with other natural resource companies; other risks related to our common shares; and those other various risks and uncertainties identified under the heading "Risk Factors" in our most recent Annual Information Form filed with the Canadian securities regulatory authorities and included in our most recent Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission ("SEC").
This list is not exhaustive of the factors that may affect any of our forward-looking statements. Our forward-looking statements are based on what our management currently considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently available to it. Assumptions have been made regarding, among other things: our ability to carry on our exploration and development activities; our ability to meet our obligations under our property agreements; the timing and results of drilling programs; the discovery of Mineral Resources and Mineral Reserves on our mineral properties; the timely receipt of required approvals and permits, including those approvals and permits required for successful project permitting, construction and operation of our projects; the price of the minerals we produce; the costs of operating and exploration expenditures; our ability to operate in a safe, efficient and effective manner; our ability to obtain financing as and when required and on reasonable terms; our ability to continue operating the Marigold mine and the Seabee Gold Operation; dilution and mining recovery assumptions; the success of mining, processing, exploration and development activities; the accuracy of geological, mining and metallurgical estimates; no significant unanticipated operational or technical difficulties; maintaining good relations with the communities surrounding the Marigold mine and the Seabee Gold Operation; no significant events or changes relating to regulatory, environmental, health and safety matters; certain tax matters; and no significant and continuing adverse changes in general economic conditions or conditions in the financial markets (including commodity prices, foreign exchange rates and inflation rates). You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. We cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Our forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and we do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
Cautionary Note to U.S. Investors
This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the SEC set out in SEC Industry Guide 7. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Under SEC standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically produced or extracted at the time the reserve determination is made. In addition, the SEC's disclosure standards normally do not permit the inclusion of information concerning "Measured Mineral Resources," "Indicated Mineral Resources" or "Inferred Mineral Resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards in documents filed with the SEC. U.S. investors should understand that "Inferred Mineral Resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Moreover, the requirements of NI 43-101 for identification of "reserves" are also not the same as those of the SEC, and reserves reported by us in compliance with NI 43-101 may not qualify as "reserves" under SEC standards. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
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SOURCE SSR Mining Inc.