VANCOUVER, BC, March 6, 2024 /PRNewswire/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces financial and operating results for the three and twelve months ended December 31, 2023 (Q4 2023 and FY 2023, respectively). All amounts are in US dollars unless otherwise indicated.

Aris Mining CEO Neil Woodyer stated: "In 2023, we restructured the operations team and introduced new operating procedures following the combination of GCM Mining and Aris Gold in September 2022. The new team achieved consistent quarter-over-quarter increases in gold production during 2023, significantly enhancing our position in 2024 and the future. We have achieved the initial phase of our vision to create an attractive gold mining company for investors by integrating profitable operations with exploration potential and growth projects.

During 2023, our high-grade Segovia Operations produced 202,940 ounces of gold at a processed grade of 10.4 g/t with all-in sustaining costs per ounce of $1,173, achieving production and AISC guidance. For the full year 2023, our mines generated $75.4 million in free cash flow from operations¹ which largely funded $84.2 million in growth and expansion investments, and we ended the year with a cash position of $195 million.

With strong gold production results and substantial growth in mineral reserves and resources at our Segovia Operations, we have started construction to increase its processing capacity by 50% to 3,000 tonnes per day with completion expected in early 2025. As the new capacity is used, we expect to increase annual gold production at Segovia to over 300,000 ounces. Construction at our Marmato Lower Mine project has ramped up with initial access roads completed, the lead contractor for portal and decline development selected, and tenders for key items for the new processing plant underway. We are on pace to reach 500,000 ounces of gold production in Colombia in 2026."

Operations Review - Segovia Operations

Aris Mining Quarterly and YTD Cashflow Generation - 2023 (US$ million)

Aris Mining's audited consolidated financial statements for three month and years ended December 31, 2023 and 2022 and related MD&A (together, the Annual Filings) are available on SEDAR+, and the Annual Filings and Aris Mining's annual report on Form 40-F for the year ended December 31, 2023 are available 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 audited financial statements are available free of charge by written request to info@aris-mining.com.

Management will host a conference call on Thursday, March 7, 2024, at 11:00 am ET/8:00 am PT to discuss the results and outlook for 2024. The call will be webcast and can be accessed at Aris Mining's website at www.aris-mining.com, or at https://services.choruscall.ca/links/arismining2023q4.html

To join the conference via telephone dial:

• Toll-free North America: 1-866-668-0730
• International: +1 604-638-5357

Participants may also choose to pre-register to join the conference call automatically, at this link. Upon registering, participants will receive a calendar invitation with dial-in details and a unique PIN, which will allow them to bypass the operator queue and connect directly to the conference.

The call will be available for playback for one week by dialing:

• Toll-free in the US and Canada: +1 800.319.6413
• International: +1 604.638.9010
• Replay access code: 0729

A replay of the event will be archived at Aris Mining Corporation - Investors - Events & Presentations (aris-mining.com).

Aris Mining is a gold producer in the Americas with an attractive blend of current production, exploration, and growth projects. The Company operates two mines in Colombia, the Segovia Operations and Marmato Upper Mine, known for their high-grade deposits, which produced 226,000 ounces of gold in 2023. With expansion projects in progress, Segovia and Marmato aim to produce a combined 500,000 ounces of gold in 2026. Aris Mining also operates and is 20% owner of the Soto Norte Project 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 is committed to pursuing acquisitions and other growth opportunities to unlock value through scale and diversification.

Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.

Non-IFRS 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-IFRS financial measures and non-IFRS ratios. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. For full details on these measures and ratios refer to the "Non-IFRS Measures" section of the Company's Management's Discussion and Analysis for the three months and years ended December 31, 2023 and 2022 (MD&A). The MD&A is incorporated by reference into this news release and is available 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-IFRS 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 2023 audited consolidated financial statements.

Total cash costs

All-in sustaining costs (AISC)

The table below reconciles the cash cost per ounce sold and the AISC per ounce sold for ore sourced from owner-operated mines and other partner-operated mines to the totals for the consolidated Segovia Operations:

Additions to mineral interests, plant and equipment

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

Adjusted net earnings and adjusted net earnings per share

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 Company's belief that it has significantly enhanced its position in 2024 and the future, the Company's plans to increase the processing capacity at the Segovia Operations and the timing thereof, the expected increase in annual gold production at the Segovia Operations, the Company's goal of producing 500,000 ounces of gold in Colombia in 2026 and the Company's plans and strategies 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.

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SOURCE Aris Mining Corporation