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ARIS MINING Q1 PRODUCTION ON TRACK TO DELIVER FULL YEAR 2024 GUIDANCE WHILE EXPANSION PROJECTS ADVANCE

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ARIS MINING Q1 PRODUCTION ON TRACK TO DELIVER FULL YEAR 2024 GUIDANCE WHILE EXPANSION PROJECTS ADVANCE

 

 

 

 

 

Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces its operating results for the three months ended March 31, 2024.

 

Neil Woodyer, CEO of Aris Mining, commented “In line with our budget, our mines produced 50,768 ounces of gold in Q1.  Plant throughput was slightly reduced in Q1 because of planned maintenance at the Segovia processing facility and we achieved averaged processed gold grades of 9.4 g/t, consistent with our Segovia mine plan.  Our gold production is scheduled to increase from Q2 to Q4 as the Segovia mine plan progresses to higher-grade zones, and we are on-track to deliver full year 2024 production guidance of 220,000 to 240,000 ounces. In addition, we are pleased with the progress of the expansion projects at the Segovia and Marmato mines. Following completion of the expansions, Aris Mining is targeting 500,000 ounces of production in 2026.

 

At the Segovia expansion project, which includes increasing processing capacity from 2,000 to 3,000 tonnes per day, geotechnical studies for the plant area have been finalized, engineering and design is well underway, and preparations for the new installations are progressing smoothly. Once complete, Segovia is expected to produce over 300,000 ounces per year.

 

At the Marmato Lower Mine expansion project, the access road to the new processing facility area is now complete and earthworks in the plant area will commence soon. The contractor for the new portal and decline is fully mobilized and cutting of the portal face has commenced. Once complete, the Marmato Upper and Lower mines are expected to produce 162,000 ounces per year over a 20-year mine life.”

 

Please visit www.aris-mining.com and navigate to the media section featuring our Marmato operation, alternatively, through this LINK. Here, Aris Mining will regularly share media content, including time-lapse videos, to keep investors informed about the construction progress at Marmato.

 

Q1 2024 Financial Results

 

Aris Mining will announce its full Q1 2024 financial results after market close on Tuesday, May 14, 2024.

 

About Aris Mining

 

Aris Mining is a gold producer in the Americas, currently operating two mines with brownfield expansions underway in Colombia. The Segovia Operations and Marmato Upper Mine produced 226,000 ounces of gold in 2023. With ongoing expansion projects, Segovia and Marmato are targeting to produce 500,000 ounces of gold in 2026. Aris Mining also operates the Proyecto Soto Norte joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine. In Guyana, Aris Mining is advancing the Toroparu Project, 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 artisanal and small-scale mining 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.

 

Posted April 16, 2024

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