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SSR Mining Announces the Sale of Its San Luis Project for Total Consideration of up to US$42.5 Million and a 4% NSR Royalty

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SSR Mining Announces the Sale of Its San Luis Project for Total Consideration of up to US$42.5 Million and a 4% NSR Royalty






SSR Mining Inc. (TSX: SSRM) (NASDAQ:SSRM) (ASX: SSR) announced today that it has entered into a definitive agreement to sell its San Luis Project to Highlander Silver Corp. (CSE:HSLV) in exchange for total consideration of up to US$42.5 million.


Total consideration consists of US$5.0 million in upfront cash and up to US$37.5 million in contingent payments payable in cash. Pursuant to the terms of the agreement, SSR Mining will retain a 4% net smelter returns royalty on the Project, which will be granted prior to the closing of the Transaction.


The upfront cash component of the consideration will be paid upon closing of the Transaction and the contingent payments are expected to be received in five installments beginning with the commencement of an initial drilling program at the Project and ending on the second anniversary of commercial production from the Project. Under the terms of the agreement, at any time until commencement of construction, half of the NSR royalty can be repurchased by Highlander Silver for US$15 million in cash.


Closing of the Transaction is expected to occur in the first quarter of 2024, and is subject to the receipt of any required regulatory approvals and certain customary closing conditions for transactions of this nature.


The Transaction is expected to be accretive to SSR Mining on a NAV per share basis, based on street consensus estimates. With this transaction, SSR Mining continues to deliver on its goal of portfolio rationalization, realizing more than US$300 million in aggregate consideration for non-core assets since the start of 2021.


San Luis is a greenfield gold and silver development project located in the Ancash Department of Central Peru.


About Highlander Silver


Highlander Silver Corp., backed by the Augusta Group and the Lundin Family, is a mineral exploration company focused on the discovery of exceptional silver-gold-polymetallic projects in the Central Andes, leveraging the team’s significant technical and operational experience in Peru and South America more widely. Currently the Company is developing the La Estrella and Alta Victoria projects in central Peru. The Company is listed on the CSE under the ticker symbol HSLV and additional information about Highlander Silver and its mineral projects can be viewed on the Company’s SEDAR profile at and its website at


About SSR Mining


SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets. Over the last three years, the four operating assets combined have produced on average more than 700,000 gold-equivalent ounces annually.


Posted December 3, 2023

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