Results Reaffirm Mineral Resource Growth Potential
Maiden Mineral Reserve Expected 2022, First Production Expected in 2023

SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) is pleased to announce positive results from 194 diamond drill holes for Ardich for the period from March 2020 to May 2021. These results build upon the preliminary economic analysis reported in the Çöpler District Master Plan Technical Report issued in November 2020, in which the Ardich deposit contributed 1.23 million ounces of gold from Measured and Indicated resources, and 0.35 million ounces of gold from Inferred Mineral Resources, providing an after tax NPV_5% of US$431M¹.

Ardich represents a key organic growth initiative for SSR Mining, with the PEA highlighting the potential for approximately 1.1 million ounces of gold production over an 11-year mine life for approximately $50 million in development capital expenditures¹. Ardich was discovered in 2017 and is located 1.5km north of the Çakmaktepe mine and 6km from the Çöpler operations, allowing future development to leverage existing oxide and sulfide processing infrastructure (Figure 1). Drilling and technical study activities are ongoing to further refine the value of this near mine opportunity and target a maiden Mineral Reserve declaration in 2022. Permitting is concurrently being advanced with a target for first gold production in 2023.

All 194 diamond holes (AR234-AR427) reported in this release were drilled in 2020 and 2021 subsequent to the cut-off date used in the compilation of the Mineral Resources in the PEA. None of the assays reported in today’s release were included in the CDMP20. These new results include both step-out holes (drilled outside of and below the current Mineral Resource) (Table 1) and in-fill (within the area of the current Mineral Resource) (Table 2). The step-out holes are located to the west, south and south-west of the current Ardich Mineral Resource area. Step-out holes confirmed the extension of mineralization (Figure 2) (Table 1), many with impressive grades, including the following holes:

• AR274: 7.48 g/t Au over 40.7 meters from 155 meters, including 29.99 g/t Au over 5 meters from 187 meters.
• AR280: 4.18 g/t Au over 24.5 meters from 246 meters, including 35.1 g/t Au over 1 meter from 264 meters.
• AR356: 2.98 g/t Au over 62.7 meters from 163 meters, including 13.43 g/t Au over 3.4 meters from 205 meters.
• AR407: 3.68 g/t Au over 54 meters from 145 meters, including 15.43 g/t Au over 2 meters from 157 meters.
• AR417: 2.20 g/t Au over 49.8 meters from surface.

Rod Antal, President and CEO said, “These are great results and we are eager to build them into our models as we aim to both improve on the Ardich PEA case presented in the current Technical Report and deliver an initial Mineral Reserve statement for the project. Permitting and other works required to bring Ardich into production continue in parallel with the exploration and resource definition drilling. We continue to view Ardich as a key driver of organic growth in our global exploration portfolio, with first production expected in 2023.”

The PEA case is preliminary in nature and includes an economic analysis that is based, in part, on Inferred Mineral Resources. Inferred Mineral Resources are considered too speculative geologically for the application of economic considerations that would allow them to be categorized as Mineral Reserves, and there is no certainty that the results will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Overview of Mineralization Style

The Ardich deposit is a listwanite-dolomite hosted gold replacement mineralization occurring along thrust fault zones between listwanite, ophiolite, dolomite, cataclastite, hornfels, and limestone. Mineralization and alteration extend in a NW-SE direction, parallel to major high angle fault structures controlling both mineralization and block rotations. Gold grades increase at dolomite-listwanite contacts and within silica-rich (jasperoid) listwanites. The mineralization is predominantly oxide with sulfide mineralization confined to pyrite-rich jasperoid zones. Based on available drill data, the main mineralized zone appears tabular and almost flat lying.

As exploration advances and the geological understanding of the Çakmaktepe and Ardich deposits increases, it appears that there is probable structural connectivity between the areas, potentially creating an expanded “Greater Çakmaktepe” development pathway.

Drilling

SSR Mining has drilled 427 diamond core holes at Ardich between August 2017 and June 2021, totaling 86,898m. The majority of these drill holes were drilled within SSR’s 80% owned and managed licenses and greater than approximately 96 % of Ardich Mineral Resources are located on ground held 80% by SSR Mining, with the remainder located on ground 50% held by SSR Mining.²

The 194 holes in this release total 43,627m of drilling that was completed between March 2020 – May 2021 (AR234-AR427). These additional holes improve definition of the west, south and south-eastern extensions of gold mineralization defined by the earlier programs. The main Ardich mineralization dips gently towards the southeast and is interpreted to become deeper due to faulting and topography. SSR Mining currently has seven diamond drill rigs active at Ardich.

Drill Highlights

Table 1: Best 10 Step-out drill holes with significant gold intercepts at the Ardich project.

Table 2: Best 10 In-Fill drill holes with significant gold intercepts at the Ardich Project.

The complete drill assay results and further technical information relating to this news release can be found below.

Technical Procedural Information

Sampling, Assaying and QA/QC

The Ardich drilling program started in 2017. Diamond drill core is sampled as half core at 1m intervals or geological contacts. Sampling interval varies between 0.4 meters and 3.2 meters with an average of 1.24 meters length. The samples were submitted to ALS Global laboratories in Izmir, Turkey for sample preparation and analysis which is of an ISO/IEC 7025:2005 certified and accredited laboratory. Bureau Veritas (Acme) laboratory, Ankara was used for umpire check sample analysis. Gold was analyzed by fire assay with an AAS finish, and the multi-element analyses were determined by four acid digestion and ICP-AES and MS finish. For gold assays greater than or equal to 10 g/t, the fire assay process is repeated with a gravimetric finish for coarse gold. The drill and geochemical samples were collected in accordance with accepted industry standards. SSR Mining conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays. External review of data and processes relating to Ardich has been completed by independent consultant Dr. Erdem Yetkin, P.Geo. in July 2021. There were no adverse material results detected and the QA/QC indicates the information collected is acceptable, and the database can be used for further studies.

Metallurgical Test Work

Metallurgical test work and recovery assumptions are reported in CDMP20 and include heap leach for oxide ores and flotation and pressure oxidation of sulfide ore.

Qualified Person

The exploration results disclosed in this document were prepared under the supervision and approved by Dr. Cengiz Y. Demirci, AIPG Registered Member and a CPG (Certified Professional Geologist), and VP Exploration at SSR Mining. Dr. Demirci has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and is a qualified person pursuant to National Instrument 43-101 (“NI 43-101”).

External review of data and processes relating to the Ardich was completed in July 2021 by independent consultant Dr. Erdem Yetkin, P.Geo. a qualified person as defined by NI 43-101. There were no adverse material results detected and Dr. Yetkin is of the opinion that the QA/QC indicates the information collected is acceptable, and the database can be used for announcing the exploration results.

End Notes

1. The PEA Case is preliminary in nature and includes an economic analysis that is based, in part, on Inferred Mineral Resources. Inferred Mineral Resources are considered too speculative geologically for the application of economic considerations that would allow them to be categorized as Mineral Reserves, and there is no certainty that the results will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
2. The Çöpler gold mine is owned and operated by Anagold Madencilik Sanayi ve Ticaret Anonim Şirketi (Anagold). SSR Mining controls 80% of the shares of Anagold, Lidya Madencilik Sanayi ve Ticaret A.Ş. (“Lidya”), controls 18.5%, and a bank wholly owned by Çalık Holdings A.Ş., holds the remaining 1.5%. Exploration tenures surrounding the project area and mining at Çakmaktepe are subject to joint venture agreements between SSR Mining and Lidya that have varying interest proportions. SSR Mining controls 50% of the shares of Kartaltepe Madencilik Sanayi ve Ticaret Anonim Şirketi and 50% of Tunçpinar Madencilik Sanayi ve Ticaret Anonim Şirketi. The other 50% is controlled by Lidya. Greater than 96% of the Mineral Resource is located on SSR Mining owned 80% ground, with the remainder of the mineralization within the 50/50% ownership boundary.

About SSR Mining

SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. In 2020, the four operating assets produced approximately 711,000 gold-equivalent ounces. SSR Mining is listed on the NASDAQ, the TSX, and on the ASX.

Table 3: All step-out drill holes completed at the Ardich project since the Mineral Resource compilation cut-off date for the CDMP20 Technical Report.

Table 4: All In-fill drill holes completed at the Ardich Project since the Mineral Resource compilation cut-off date for the CDMP20 Technical Report

Supporting Drilling Information to SSR Mining Announcement

This document provides supporting drill collar locations and composite assay results for the Çakmaktepe Extension (Ardich) drilling program referenced in the announcement “SSR Mining Announces Positive Exploration Drill Results for the Çakmaktepe Extension (Ardich) Project, including 40.7 meters at 7.48 gr/t Au”, August 10, 2021.

Drill collar locations are surveyed in UTM Zone 37N, ED50 grid using differential GPS in units of meters. All drilling was diamond core drilling with HQ and PQ core sizes. HQ is 63.5mm and PQ is 85 mm in diameter.

Drill Collar Coordinates

Figure 1: Location map of the Ardich Gold Project. The haul road constructed for the Çakmaktepe oxide ore is 1.5km to Ardich. (CNW Group/SSR Mining Inc.)

Figure 2: Drill hole locations and surface outline of PEA case pit. Note: Step-Out holes within the PEA boundary indicate mineralization below the PEA pit shell. (CNW Group/SSR Mining Inc.)

Figure 3: Section showcasing highlight step-out intercepts below the PEA case pit. (CNW Group/SSR Mining Inc.)