SSR Mining Inc (SSRM)

SSR Mining Announces the Sale of Its 20% Equity Interest in Hod MadenMay 18, 2026 5:00 PM
Business Wire SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") announces that it has entered into a definitive agreement with Lidya Mines to sell its 20% ownership stake and its operatorship position in the Hod Maden development project (the “Project”) for an uncapped 4.0% net smelter return royalty (“NSR”) on 100% of the Project (the “Transaction”). The royalty consideration received by SSR Mining is expected to deliver an accretive outcome for shareholders. Concurrently with the Transaction, Royal Gold, Inc. (“Royal Gold”), which is a partner in the Project, will sell 15% of its ownership interest in the Project to Lidya Mines in exchange for an uncapped 2.5% NSR on 100% of the Project. Royal Gold’s 2.5% NSR will be issued with substantially the same key terms as the 4.0% NSR issued to SSR Mining. Royal Gold will also hold a fixed price call right to acquire 2.0% of the NSR from SSR Mining for $160 million, expiring 12 months following declaration of commercial production at the Project. Additionally, Royal Gold will hold a consent right on the sale of SSR Mining's NSR prior to January 1, 2028, and a right of first refusal in connection with any sale of the SSR Mining NSR. Upon entering into the agreements related to the Transaction, Lidya Mines will become operator of the Project. Upon closing of the Transaction, Lidya Mines will own 85% and Royal Gold will own 15% of the Project. SSR Mining’s total invested capital into Hod Maden, inclusive of upfront acquisition cost, earn-in and capital spend to date is approximately $243 million. With the announcement of this Transaction, SSR Mining will resign as project operator and will have no further funding obligations, with such obligations being assumed by Lidya Mines. The Transaction will be completed on an as-is, where-is basis and SSR Mining will not provide any material post-closing indemnities. The Transaction is expected to close in the third quarter of 2026. The closing of the Transaction will be subject to receipt of regulatory approval from the Turkish General Directorate of Mining and Petroleum Affairs, as well as other consents and approvals that may be required in connection with the Transaction, and other customary conditions. The Transaction, together with the previously announced sale of the Çöpler mine in Türkiye and acquisition of the Cripple Creek & Victor Mine in Colorado, completes SSR Mining’s strategic refocus to an Americas platform. These transactions reinforce the Company’s position as a leading free cash flow, capital returns-focused gold and silver producer, anchored by its long-lived Marigold and Cripple Creek & Victor operations in the United States. Following the closing of the Transaction, the 4.0% Hod Maden NSR will strengthen SSR Mining’s existing royalty portfolio, which currently includes NSRs on the San Luis project (4.0%) owned by Highlander Silver, the Pitarrilla project (1.25%) owned by Endeavour Silver, the Rowan property (3.0%) owned by West Red Lake Gold, and the Sunrise Lake property (4.0%) owned by Honey Badger Silver. About SSR Mining SSR Mining is listed under the ticker symbol SSRM on the Nasdaq Stock Market and the Toronto Stock Exchange. For more information, please visit: www.ssrmining.com. Cautionary Note Regarding Forward-Looking Information and Statements: This press release includes “forward looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements, and include, but are not limited to, our ability successfully close the Transaction or our previously announced agreement to sell the Çöpler mine to Cengiz Holding A.S. (the “Çöpler Transaction”) within the time periods anticipated, or at all; our ability to obtain any necessary regulatory or other approvals or consents for the Transaction or the Çöpler Transaction that may be required; the successful completion of the Project and the ability of Lidya Mines to generate revenues from the Project; our ability to receive revenues under, and realize the expected returns from, the NSR, and whether and when we elect, and are able, to monetize the NSR; and our ability to strategically refocus our business to the Americas. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, you should not place undue reliance on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and expectations to differ materially from the anticipated results or expectations expressed in this press release. Important factors that could cause actual results to differ materially from our historical experience, and present projections and expectations are disclosed in our filings that we make on SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. Forward-looking information and statements speak only as of the date they are made. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information and statements to reflect, among other things, new information or events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. View source version on businesswire.com: https://www.businesswire.com/news/home/20260515365569/en/ E-Mail: invest @civilone Original: SSR Mining Announces the Sale of Its 20% Equity Interest in Hod Maden

SSR Mining Announces Voting Results From 2026 Annual Meeting of ShareholdersMay 7, 2026 4:40 PM
Business Wire SSR Mining Inc. (Nasdaq/TSX: SSRM) (“SSR Mining” or the “Company”) announces that each of the eight nominees listed in the Proxy Statement for the 2026 Annual Meeting of Shareholders (the “Meeting”) were elected as directors of SSR Mining on Thursday, May 7, 2026. Voting results for the election of directors are set out below: Nominee Name Votes For % For Votes Withheld % Withheld Broker Non Vote Rod Antal 145,639,711 98.69% 1,938,333 1.31% 15,402,274 Thomas R. Bates, Jr. 90,845,964 61.56% 56,732,081 38.44% 15,402,273 Brian R. Booth 146,243,280 99.10% 1,334,764 0.90% 15,402,274 Alan P. Krusi 145,353,727 98.49% 2,224,317 1.51% 15,402,274 Daniel Malchuk 144,910,353 98.19% 2,667,691 1.81% 15,402,274 Laura Mullen 145,801,559 98.80% 1,776,486 1.20% 15,402,273 Kay Priestly 140,344,130 95.10% 7,233,914 4.90% 15,402,274 Karen Swager 123,223,257 83.50% 24,354,788 16.50% 15,402,273 At the Meeting, the shareholders of SSR Mining also approved (i) a non-binding advisory resolution regarding the Company’s approach to executive compensation, and (ii) the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. The voting results for each resolution are set out below:   Votes For % For Votes Against % Against Votes Withheld % Withheld Broker Non Vote Advisory Vote on Executive Compensation 79,296,143 53.73% 66,819,982 45.28% 1,461,909 0.99% 15,402,284 Appointment of Auditors 162,777,275 99.88% 0 0.00% 203,043 0.12% 0 About SSR Mining SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX. For more information, please visit: www.ssrmining.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507714505/en/ E-Mail: invest @civilone Original: SSR Mining Announces Voting Results From 2026 Annual Meeting of Shareholders

SSR Mining Reports First Quarter 2026 ResultsMay 5, 2026 4:10 PM
Business Wire SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") reports consolidated financial results for the first quarter ended March 31, 2026. Consolidated continuing operating results: First quarter 2026 production was 109,914 gold equivalent ounces at consolidated cost of sales of $1,727 per payable ounce and all-in sustaining costs (“AISC”) of $2,433 per payable ounce.(1) The first quarter operating results were well aligned with Company expectations and SSR Mining remains on track for full-year 2026 production guidance of 450,000 to 535,000 gold equivalent ounces. Çöpler sale: On March 4, 2026, SSR Mining announced a binding memorandum of understanding to sell its 80% ownership stake in the Çöpler mine and related properties in Türkiye (collectively, “Çöpler”) to Cengiz Holding A.S. (“Cengiz”) for $1.5 billion in cash (the "Çöpler Transaction"). Subsequently, on March 24, 2026, the Company signed a definitive share purchase agreement formalizing the terms of the Çöpler Transaction. Çöpler is now classified as a discontinued operation in the Company’s financial reporting. The Çöpler Transaction is expected to close before the end of the third quarter of 2026. Financial results: In the first quarter of 2026, the Company reported net income attributable to SSR Mining shareholders from continuing operations of $252.5 million, or $1.16 per diluted share, and adjusted net income attributable to SSR Mining shareholders from continuing operations of $250.1 million, or $1.15 per diluted share. In the first quarter of 2026, operating cash flow from continuing operations was $299.6 million and free cash flow from continuing operations was $210.8 million. Inclusive of costs incurred at Çöpler in the quarter, operating cash flow was $264.5 million and free cash flow was $175.2 million. Cash and liquidity position from continuing operations: As of March 31, 2026, SSR Mining had a cash and cash equivalent balance of $634.1 million and total liquidity of $1,134.1 million, inclusive of the Company’s undrawn revolving credit facility and accompanying accordion feature. During the quarter, the Company announced the redemption of its Convertible Notes, which resulted in holders exercising rights to convert the Convertible Notes into SSR Mining common shares. As a result, the aggregate principal amount of $230.0 million of Convertible Notes was converted to 13.1 million common shares and the Company paid approximately $2.6 million in cash to redeem unconverted Convertible Notes, to fund required payments in connection with the conversion and redemption, and for other related costs incurred through the conversion and redemption process. As of March 31, 2026, SSR Mining had no significant long-term debt outstanding. In addition, during the quarter, SSR Mining made a $87.5 million contingent payment related to the Carlton Tunnel at CC&V. Capital returns: On February 13, 2026, SSR Mining’s Board of Directors approved a share buyback program of up to $300 million and, on March 31, 2026, the Company received regulatory approval for its Normal Course Issuer Bid (“NCIB”). Subsequent to the quarter, SSR Mining completed approximately $300 million in share buybacks through the repurchase of 9.2 million shares. Since 2021, SSR Mining has now repurchased 29.2 million shares at an average price of $21.06 per share, delivering significant per share value accretion to shareholders. Total capital returned to shareholders since the start of 2021 is approximately $775 million. Hod Maden: Following the sale of Çöpler, SSR Mining’s interest in the Hod Maden development project remains under strategic review. While this process is ongoing, SSR Mining expects to incur minimal capital costs. In the first quarter of 2026, SSR Mining made $30.6 million in growth capital investments at Hod Maden. An update on the Hod Maden strategic review is expected before the end of the third quarter. Development & exploration: SSR Mining continues to advance key brownfield organic growth projects across the portfolio, including Buffalo Valley at Marigold, Cortaderas at Puna, and Porky at Seabee. These projects represent high-return development opportunities and have the potential to meaningfully extend the mine lives at each asset. SSR Mining remains on track to spend $35 million on growth exploration and resource development initiatives in 2026 as it aims to identify and advance growth targets across its portfolio. Rod Antal, Executive Chairman of SSR Mining, said, “The first quarter of 2026 marked a significant milestone for our business with the definitive agreement to sell our ownership in Çöpler for $1.5 billion in cash. This transaction, together with last year’s extremely successful acquisition of Cripple Creek & Victor, positions SSR Mining firmly in the Americas and re-establishes our Company as a leader in free cash flow generation. In the first quarter, we generated $300 million in operating cash flow and $211 million in free cash flow. Subsequent to quarter-end, we returned $300 million to shareholders through our share buyback program. Looking ahead, we are in the strongest financial position in our company’s history. We expect our low-risk, free cash flow leading Americas-focused platform to support a premium valuation as we regain our position as a leading mid-cap gold producer.” Financial and Operating Summary A summary of the Company's consolidated financial and operating results for the three months ended March 31, 2026 and March 31, 2025 are presented below: (in thousands, except per share data or otherwise stated)   Three Months Ended
March 31,                   2026     2025 Financial Results                         Revenue               $ 581,778   $ 316,618 Cost of sales               $ 195,119   $ 136,641 Operating income               $ 300,381   $ 106,784 Net income (loss)               $ (115,152)   $ 54,446 Net income from continuing operations               $ 250,181   $ 89,174 Net income (loss) from discontinued operations               $ (365,333)   $ (34,728) Net income attributable to SSR Mining shareholders from continuing operations               $ 252,476   $ 85,701 Basic net income per share attributable to SSR Mining shareholders from continuing operations           $ 1.23   $ 0.42 Diluted net income per share attributable to SSR Mining shareholders from continuing operations           $ 1.16   $ 0.40 Adjusted net income attributable to SSR Mining shareholders from continuing operations (1)           $ 250,077   $ 88,474 Basic adjusted net income per share attributable to SSR Mining shareholders from continuing operations (1)       $ 1.22   $ 0.44 Diluted adjusted net income per share attributable to SSR Mining shareholders from continuing operations (1)       $ 1.15   $ 0.41                           Cash provided by operating activities from continuing operations               $ 299,608   $ 116,701 Cash provided by (used in) operating activities of discontinued operations               $ (35,119)   $ (34,365) Cash provided by operating activities               $ 264,489   $ 82,336 Cash used in investing activities               $ (86,269)   $ (151,781) Cash provided by (used in) financing activities               $ (78,219)   $ 2,675                           Continuing Operating Results                         Gold produced (oz)                 82,314     75,869 Gold sold (oz)                 83,893     77,708 Silver produced ('000 oz)                 1,739     2,505 Silver sold ('000 oz)                 1,833     2,374 Lead produced ('000 lb) (2)                 8,162     11,489 Lead sold ('000 lb) (2)                 8,917     12,053 Zinc produced ('000 lb) (2)                 1,024     758 Zinc sold ('000 lb) (2)                 737     262                           Gold equivalent produced (oz) (3)                 109,914     103,805 Gold equivalent sold (oz) (3)                 112,993     104,185                           Average realized gold price ($/oz sold)               $ 4,770   $ 2,935 Average realized silver price ($/oz sold)               $ 91.79   $ 32.47                           Cost of sales per gold equivalent ounce sold (3)               $ 1,727   $ 1,312 Cash cost per gold equivalent ounce sold (1,3)               $ 1,611   $ 1,206 AISC per gold equivalent ounce sold (1,3)               $ 2,433   $ 1,749                           Financial Position From Continuing Operations   March 31, 2026   December 31, 2025 Cash and cash equivalents   $       634,086   $       524,750 Current assets   $       3,668,884   $       1,287,121 Total assets   $       5,946,734   $       6,093,898 Current liabilities   $       688,673   $       618,357 Total liabilities   $       1,517,971   $       1,779,644 Working capital (4)   $       2,980,211   $       668,764 (1) The Company reports non-GAAP financial measures including adjusted net income (loss) attributable to SSR Mining shareholders from continuing operations, adjusted net income (loss) per share attributable to SSR Mining shareholders from continuing operations, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to net income (loss), and cost of sales, which are the most comparable GAAP financial measures. Cost of sales excludes depreciation, depletion, and amortization. (2) Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate. (3) Effective January 1, 2026, the Company calculates gold equivalent ounces (“GEOs”) using a fixed silver-to-gold ratio of 63:1. In prior periods, GEOs were calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding. (4) Working capital is defined as current assets less current liabilities. Marigold, USA For the three months ended March 31, 2026 and 2025, Marigold produced 37,730 and 38,586 ounces of gold, respectively. During the first quarter of 2026, Marigold reported cost of sales of $1,813 per payable ounce and AISC of $2,365 per payable ounce. The Company remains on track for full-year 2026 production guidance for Marigold of 170,000 to 200,000 ounces of gold at mine site cost of sales of $1,720 to $1,790 per payable ounce and AISC of $2,320 to $2,390 per payable ounce. Production at Marigold remains approximately 55 to 60% weighted to the second half of 2026. Sustaining capital spend at Marigold totaled $21.0 million in the first quarter and remains on track with full-year guidance of $106 million, with sustaining capital expected to increase in the second and third quarters due to the timing of spend on fleet replacements and upgrades. Accordingly, AISC are now expected to peak in the second quarter of 2026. SSR Mining is advancing growth initiatives across Marigold, including Buffalo Valley, with an updated life of mine plan incorporating these potential growth opportunities expected over the next 12 months. Ongoing exploration and evaluation of other brownfield targets, including New Millennium, Marigold North, and DG80, continues in support of longer-term growth and mine life extension.     Three Months Ended
March 31, Operating Data   2026   2025 Gold produced (oz)     37,730     38,586 Gold sold (oz)     39,509     40,408               Ore mined (kt)     4,947     5,356 Waste removed (kt)     19,506     20,455 Total material mined (kt)     24,453     25,811 Strip ratio     3.9     3.8               Ore stacked (kt)     4,947     5,356 Gold grade stacked (g/t)     0.26     0.33               Average realized gold price ($/oz sold)   $ 4,748   $ 2,899 Cost of sales ($/oz gold sold)   $ 1,813   $ 1,453 Cash costs ($/oz gold sold) (5)   $ 1,813   $ 1,454 AISC ($/oz gold sold) (5)   $ 2,365   $ 1,765 (5) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Marigold. See "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Cripple Creek & Victor, USA For the three months ended March 31, 2026, and 2025, CC&V produced 38,298 and 11,282 ounces of gold, respectively. During the first quarter of 2026, CC&V reported cost of sales of $1,431 per payable ounce and AISC of $1,658 per payable ounce. The strong first quarter at CC&V drove mine site revenue of $187 million and mine site free cash flow of more than $120 million, bringing total mine site revenue and free cash flow attributable to SSR Mining since the mine’s acquisition in 2025 to approximately $637 million and $325 million, respectively. The Company remains on track for full-year 2026 production guidance for CC&V of 125,000 to 150,000 ounces of gold at mine site cost of sales of $1,420 to $1,490 per payable ounce and AISC of $1,780 to $1,850 per payable ounce. Sustaining capital is expected to increase in the second and third quarters of 2026. SSR Mining continues to evaluate opportunities to improve the longer-term production and cost profile at CC&V, including the potential for future Mineral Reserve conversion opportunities.   Three Months Ended
March 31, Operating Data 2026 2025 (6) Gold produced (oz)   38,298   11,282 Gold sold (oz)   38,247   11,300           Ore mined (kt)   3,371   1,824 Waste removed (kt)   5,520   1,571 Total material mined (kt)   8,891   3,395 Strip ratio   1.6   0.9           Ore stacked (kt)   3,276   1,859 Gold grade stacked (g/t)   0.45   0.36           Average realized gold price ($/oz sold) $ 4,815 $ 3,067 Cost of sales ($/oz gold sold) $ 1,431 $ 1,590 Cash costs ($/oz gold sold) (7) $ 1,372 $ 1,571 AISC ($/oz gold sold) (7) $ 1,658 $ 1,774 (6) For the three months ended March 31, 2025, all metrics represent the period from February 28, 2025, the closing date of the CC&V acquisition, to March 31, 2025. (7) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at CC&V. See "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Seabee, Canada For the three months ended March 31, 2026 and 2025, Seabee produced 6,286 and 26,001 ounces of gold, respectively. Operations at Seabee continue to focus on underground development to support increased production in the second half of the year. During the first quarter of 2026, Seabee reported cost of sales of $3,462 per payable ounce and AISC of $6,053 per payable ounce. First quarter AISC reflect the timing of spend associated with the winter road, and the mine remains on track for full-year production guidance of 60,000 to 70,000 ounces of gold at mine site cost of sales of $1,480 to $1,550 per payable ounce and AISC of $2,170 to $2,240 per payable ounce. Production from Seabee is expected to be strongest in the fourth quarter of 2026 due to higher grades. SSR Mining is advancing exploration and resource development activities at both Santoy and Porky as potential avenues for Mineral Reserve growth. Near-mine drilling at Santoy is targeting higher grades at depth to further improve the production profile while the evaluation of Porky as a potential new mining front continues.   Three Months Ended
March 31, Operating Data 2026 2025 Gold produced (oz)   6,286   26,001 Gold sold (oz)   6,137   26,000           Ore mined (kt)   81   82           Ore milled (kt)   76   90 Gold mill feed grade (g/t)   3.00   9.00 Gold recovery (%)   93.7   97.3           Average realized gold price ($/oz sold) $ 4,633 $ 2,934 Cost of sales ($/oz gold sold) $ 3,462 $ 890 Cash costs ($/oz gold sold) (8) $ 3,466 $ 890 AISC ($/oz gold sold) (8) $ 6,053 $ 1,374 (8) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Seabee. See "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Puna, Argentina For the three months ended March 31, 2026 and 2025, Puna produced 1.7 and 2.5 million ounces of silver, respectively. During the first quarter of 2026, Puna reported cost of sales of $25.91 per payable ounce and AISC of $23.14 per payable ounce. Ore in the first quarter of 2026 was largely sourced from surface stockpiles as mining operations were focused on waste stripping at Chinchillas. The average realized silver price in the first quarter of 2026 was $91.79 per ounce, driving mine site revenue of $179 million and mine site free cash flow of over $120 million, further reinforcing Puna as one of the highest-margin primary silver mines globally. The Company remains on track for full-year 2026 production guidance for Puna is 6.25 to 7.00 million ounces of silver at mine site cost of sales of $22.30 to $24.30 per payable ounce and AISC of $20.00 to $22.00 per payable ounce. Production at Puna remains approximately 50 to 55% weighted to the first half of 2026. AISC are expected to remain above the full-year guidance range in the second quarter, largely reflecting the expected sustaining capital spend profile which remains more than 75% weighted to the first half of the year. SSR Mining continues to advance a number of potential growth projects at Puna, including additional laybacks at the Chinchillas pit, potential new development at the Melina open pit target adjacent to Chinchillas, and continued evaluation of the Cortaderas project. The Company expects to provide an update on Puna’s life of mine extension opportunities over the next 12 months.   Three Months Ended
March 31, Operating Data 2026 2025 Silver produced ('000 oz)   1,739   2,505 Silver sold ('000 oz)   1,833   2,374 Lead produced ('000 lb)   8,162   11,489 Lead sold ('000 lb)   8,917   12,053 Zinc produced ('000 lb)   1,024   758 Zinc sold ('000 lb)   737   262 Gold equivalent sold (oz) (9)   29,100   26,477           Ore mined (kt)   73   627 Waste removed (kt)   2,140   1,089 Total material mined (kt)   2,213   1,716 Strip ratio   29.4   1.7           Ore milled (kt)   509   454 Silver mill feed grade (g/t)   112.1   177.8 Lead mill feed grade (%)   0.81   1.21 Zinc mill feed grade (%)   0.23   0.19 Silver mill recovery (%)   94.8   96.6 Lead mill recovery (%)   89.3   94.5 Zinc mill recovery (%)   40.3   39.6           Average realized silver price ($/oz sold) $ 91.79 $ 32.47 Cost of sales ($/oz silver sold) $ 25.91 $ 15.51 Cash costs ($/oz silver sold) (10) $ 19.98 $ 10.97 AISC ($/oz silver sold) (10) $ 23.14 $ 13.16 (9) Effective January 1, 2026, the Company calculates GEOs using a fixed silver-to-gold ratio of 63:1. In prior periods, GEOs were calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding. (10) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna. See “Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. Conference Call Information This news release should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website at www.sec.gov or www.ssrmining.com. Conference call and webcast: Tuesday, May 5, 2026, at 5:00 pm EDT. Toll-free in U.S. and Canada: +1 (844) 752-3757 All other callers: +1 (412) 652-1234 For the webcast: ir.ssrmining.com/investors/events The webcast will be available on our website. Audio replay will be available for two weeks by dialing: Toll-free in U.S. and Canada: +1 (855) 669-9658, replay code 6278811 All other callers: +1 (412) 317-0088, replay code 6278811 About SSR Mining SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX. For more information, please visit: www.ssrmining.com. Cautionary Note Regarding Forward-Looking Information and Statements: Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and in some cases, can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Forward-looking information and statements in this news release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include, but are not limited to: local and global political and economic conditions; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; developments with respect to global pandemics, including the duration, severity and scope of a pandemic and potential impacts on mining operations; whether we will be able to successfully close the Çöpler Transaction within the time periods anticipated, or at all; our ability to obtain necessary regulatory and other approvals or consents for the Çöpler Transaction; any other risks and uncertainties resulting from the incident at Çöpler; the outcome of our strategic review of the Hod Maden development project, described in our Annual Report on Form 10-K; and other risk factors detailed from time to time in our reports filed with the SEC on EDGAR and the Canadian securities regulatory authorities on SEDAR. Forward-looking information and statements in this news release include any statements concerning, among other things: all information related to the Çöpler Transaction and other matters related to Çöpler; our strategic review of the Hod Maden development project; forecasts and outlook; preliminary cost reporting in this document; timing, production, operating, cost, and capital expenditure guidance; our operational and development targets and catalysts and the impact of any suspensions on operations; the results of any gold reconciliations; the ability to discover additional oxide gold ore; the generation of free cash flow and returning cash to shareholders, including via share repurchases or dividends; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; our joint venture governance and operations; negotiation and completion of transactions; commodity prices; Mineral Resources, Mineral Reserves, conversion of Mineral Resources, realization of Mineral Reserves, and the existence or realization of Mineral Resource estimates; the development approach; the timing and amount of future production; the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans; receipt of regulatory approvals; timing and impact surrounding suspension or interruption of operations as a result of regulatory requirements or actions by governmental authority; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions. Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of our filings on EDGAR and SEDAR, and include: whether we will be able to successfully close the Çöpler Transaction within the time periods anticipated, or at all; our ability to obtain necessary regulatory and other approvals or consents for the Çöpler Transaction; any other risks and uncertainties resulting from the incident at Çöpler; the outcome of our strategic review of the Hod Maden development project; the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of current and future joint ventures and their governance and operations; weather conditions at our operations; commodity prices; the ultimate determination of and realization of Mineral Reserves; existence or realization of Mineral Resources; the development approach; availability and receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize, and execute relevant agreements; the Company’s ability to efficiently integrate acquired mines and businesses and to manage the costs related to any such integration, or to retain key technical, professional or management personnel; lack of social opposition to our mines or facilities; lack of legal challenges with respect to our properties; the timing and amount of future production; the ability to meet production, cost, and capital expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral products on economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. The above list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in our filings on our website at www.ssrmining.com, on SEDAR at www.sedarplus.ca, and on EDGAR at www.sec.gov and other unforeseen events or circumstances. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Cautionary Note Regarding Non-GAAP Measures We have included certain non-GAAP performance measures throughout this document. These performance measures are employed by us to measure our operating and economic performance internally and to assist in decision-making, as well as to provide key performance information to senior management. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance; however, these non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definitions of our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. These non-GAAP measures should be read in conjunction with our condensed consolidated interim financial statements. Total Cash, Total Debt, Net Cash (Debt), Total Liquidity, Cash costs, AISC per ounce sold, adjusted net income (loss) attributable to SSR Mining shareholders, free cash flow, and mine site free cash flow are Non-GAAP Measures with no standardized definition under U.S. GAAP. Non-GAAP Measure – Total Cash, Total Debt, Net Cash (Debt) and Total Liquidity Total cash, Total debt, and Net cash (debt) are used by management and investors to measure the Company's underlying operating performance. The Company believes that these measures are a useful measure for shareholders as it helps evaluate liquidity and available cash. The Company believes that liquidity and available cash will be sufficient to sustain the operational needs of the Company for the next twelve months. Total cash is calculated as Cash and cash equivalents plus Restricted cash and Total debt is calculated as the face value of the Company’s Convertible Notes plus other current debt. The following table provides a reconciliation of cash and cash equivalents to net cash:     As of (in thousands)   March 31, 2026   December 31, 2025 Cash and cash equivalents from continuing operations (GAAP)   $ 634,086   $ 524,750 Restricted cash   $ —   $ — Total cash from continuing operations (non-GAAP)   $ 634,086   $ 524,750               Face value of Convertible Notes   $ —   $ 230,000 Other current debt   $ —   $ — Total debt from continuing operations (non-GAAP)   $ —   $ 230,000               Net cash (debt) from continuing operations (non-GAAP)   $ 634,086   $ 294,750 In addition to Net cash (debt), the Company also uses Total liquidity to measure its financial position. Total liquidity is calculated as Cash and cash equivalents plus Restricted cash and borrowing capacity under current revolving credit facilities, including accordion features. As of March 31, 2026, no borrowings were outstanding on the Company’s $400 million credit facility with a $100 million accordion feature. The following table provides a reconciliation of Cash and cash equivalents to Total liquidity:     As of (in thousands)   March 31, 2026   December 31, 2025 Cash and cash equivalents from continuing operations (GAAP)   $ 634,086   $ 524,750 Restricted cash   $ —   $ — Total cash from continuing operations (non-GAAP)   $ 634,086   $ 524,750 Borrowing capacity on credit facility   $ 400,000   $ 400,000 Borrowing capacity on accordion feature of credit facility   $ 100,000   $ 100,000 Total liquidity from continuing operations (non-GAAP) (11)   $ 1,134,086   $ 1,024,750 (11) Excludes letters of credit. As of March 31, 2026 and December 31, 2025, the company had $0.5 million in letters of credit. Inclusive of these letters of credit, total liquidity is $1,133.6 million as of March 31, 2026 and $1,034.3 million as of December 31, 2025. Non-GAAP Measure - Cash Costs and AISC Cash Costs and All-In Sustaining Costs (“AISC”) per payable ounce of gold and respective unit cost measures are non-U.S. GAAP metrics developed by the World Gold Council to provide transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The World Gold Council is a market development organization for the gold industry. The Company uses cash costs per ounce of precious metals sold and AISC per ounce of precious metals to monitor its operating performance internally. The most directly comparable measure prepared in accordance with GAAP is cost of sales. The Company believes this measure provides investors and analysts with useful information about its underlying cash costs of operations and the impact of by-product credits on its cost structure. The Company also believes it is a relevant metric used to understand its operating profitability. When deriving the cost of sales associated with an ounce of precious metal, the Company includes by-product credits, which allows management and other stakeholders to assess the net costs of gold and silver production. AISC includes total cost of sales incurred at the Company's mining operations, which forms the basis of cash costs. Additionally, the Company includes sustaining capital expenditures, sustaining mine-site exploration and evaluation costs, reclamation cost accretion and amortization, and general and administrative expenses. This measure seeks to reflect the ongoing cost of gold and silver production from current operations; therefore, growth capital is excluded. The Company determines sustaining capital to be capital expenditures that are necessary to maintain current production and execute the current mine plan. The Company determines growth capital to be those payments used to develop new operations or related to projects at existing operations where those projects will materially benefit the operation. The Company believes that AISC provides additional information to management and stakeholders that provides visibility to better define the total costs associated with production and better understanding of the economics of the Company's operations and performance compared to other producers. In deriving the number of ounces of precious metal sold, the Company considers the physical ounces available for sale after the treatment and refining process, commonly referred to as payable metal, as this is what is sold to third parties. The following tables provide a reconciliation of Cost of sales to cash costs and AISC:     Three Months Ended March 31, 2026 (in thousands, unless otherwise noted)   Marigold   CC&V   Seabee   Puna   Corporate   Total From Continuing Operations Cost of sales (GAAP) (12)   $ 71,634   $ 54,746   $ 21,245   $ 47,494   $ —   $ 195,119 By-product credits   $ (64)   $ (2,328)   $ (15)   $ (8,867)   $ —   $ (11,274) Treatment and refining charges   $ 70   $ 49   $ 41   $ (1,995)   $ —   $ (1,835) Cash costs (non-GAAP)   $ 71,640   $ 52,467   $ 21,271   $ 36,632   $ —   $ 182,010 Sustaining capital and lease related expenditures   $ 21,005   $ 7,120   $ 15,400   $ 4,745   $ —   $ 48,270 Sustaining exploration and evaluation expense   $ —   $ —   $ —   $ —   $ —   $ — Reclamation cost accretion and amortization   $ 792   $ 3,838   $ 474   $ 1,046   $ —   $ 6,150 General and administrative expense and stock-based compensation expense (13)   $ —   $ —   $ —   $ —   $ 38,480   $ 38,480 Total AISC (non-GAAP)   $ 93,437   $ 63,425   $ 37,145   $ 42,423   $ 38,480   $ 274,910                                       Gold sold (oz)     39,509     38,247     6,137     —     —     83,893 Silver sold (oz)     —     —     —   1,833,291     —   1,833,291 Gold equivalent sold (oz) (14)     39,509     38,247     6,137     29,100     —     112,993                                       Cost of sales per gold ounces sold   $ 1,813   $ 1,431   $ 3,462     N/A     N/A     N/A Cost of sales per silver ounces sold     N/A     N/A     N/A   $ 25.91     N/A     N/A Cost of sales per GEO sold (14)   $ 1,813   $ 1,431   $ 3,462   $ 1,632     N/A   $ 1,727 Cash cost per gold ounce sold   $ 1,813   $ 1,372   $ 3,466     N/A     N/A     N/A Cash cost per silver ounce sold     N/A     N/A     N/A   $ 19.98     N/A     N/A Cash cost per GEO sold (14)   $ 1,813   $ 1,372   $ 3,466   $ 1,259     N/A   $ 1,611 AISC per gold ounce sold   $ 2,365   $ 1,658   $ 6,053     N/A     N/A     N/A AISC per silver ounce sold     N/A     N/A     N/A   $ 23.14     N/A     N/A AISC per GEO sold (14)   $ 2,365   $ 1,658   $ 6,053   $ 1,458     N/A   $ 2,433 (12) Excludes depreciation, depletion, and amortization. (13) General and administrative expense for the three months ended March 31, 2026 included $20.4 million in share based compensation expense. (14) Effective January 1, 2026, the Company calculates GEOs using a fixed silver-to-gold ratio of 63:1. The Company does not include by-products in the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.     Three Months Ended March 31, 2025 (in thousands, unless otherwise noted)   Marigold   CC&V (15)   Seabee   Puna   Corporate   Total From Continuing Operations Cost of sales (GAAP) (16)   $ 58,726   $ 17,966   $ 23,130   $ 36,819   $ —   $ 136,641 By-product credits   $ (38)   $ (213)   $ (24)   $ (11,109)   $ —   $ (11,384) Treatment and refining charges   $ 66   $ 5   $ 43   $ 326   $ —   $ 440 Cash costs (non-GAAP)   $ 58,754   $ 17,758   $ 23,149   $ 26,036   $ —   $ 125,697 Sustaining capital and lease related expenditures   $ 11,669   $ 1,011   $ 11,748   $ 1,954   $ —   $ 26,382 Sustaining exploration and evaluation expense   $ 227   $ —   $ —   $ —   $ —   $ 227 Reclamation cost accretion and amortization   $ 672   $ 1,279   $ 833   $ 3,258   $ —   $ 6,042 General and administrative expense and stock-based compensation expense (17)   $ —   $ —   $ —   $ —   $ 23,894   $ 23,894 Total AISC (non-GAAP)   $ 71,322   $ 20,048   $ 35,730   $ 31,248   $ 23,894   $ 182,242                                       Gold sold (oz)     40,408     11,300     26,000     —     —     77,708 Silver sold (oz)     —     —     —   2,374,345     —   2,374,345 Gold equivalent sold (oz) (18)     40,408     11,300     26,000     26,477     —     104,185                                       Cost of sales per gold ounces sold   $ 1,453     1,590   $ 890     N/A     N/A     N/A Cost of sales per silver ounces sold     N/A     N/A     N/A   $ 15.51     N/A     N/A Cost of sales per GEO sold (18)   $ 1,453     1,590   $ 890   $ 1,391     N/A   $ 1,312 Cash cost per gold ounce sold   $ 1,454     1,571   $ 890     N/A     N/A     N/A Cash cost per silver ounce sold     N/A     N/A     N/A   $ 10.97     N/A     N/A Cash cost per GEO sold (18)   $ 1,454     1,571   $ 890   $ 983     N/A   $ 1,206 AISC per gold ounce sold   $ 1,765     1,774   $ 1,374     N/A     N/A     N/A AISC per silver ounce sold     N/A     N/A     N/A   $ 13.16     N/A     N/A AISC per GEO sold (18)   $ 1,765     1,774   $ 1,374   $ 1,180     N/A   $ 1,749 (15) CC&V data represents the period from February 28, 2025, the closing date of the CC&V acquisition, to March 31, 2025. (16) Excludes depreciation, depletion, and amortization. (17) General and administrative expense for the three months ended March 31, 2025 included $9.4 million in share based compensation expense. (18) For the three months ended March 31, 2025, GEOs were calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding. The following table provides a reconciliation of our projected cost of sales to projected cash costs and projected AISC used in the calculation of full-year projected 2026 cost guidance: (operating guidance 100% basis) (19)   Marigold   CC&V   Seabee   Puna   Corporate   Total (Excluding Çöpler)   Çöpler   Consolidated Gold Production koz   170 – 200   125 – 150   60 – 70   –   –   355 – 420   –   355 – 420 Silver Production Moz   –   –   –   6.25 – 7.00   –   6.25 – 7.00   –   6.25 – 7.00 Gold Equivalent Production koz   170 – 200   125 – 150   60 – 70   95 – 115   –   450 – 535   –   450 – 535 Gold Sold koz   170 – 200   125 – 150   60 – 70   –   –   355 – 420   –   355 – 420 Silver Sold Moz   –   –   –   6.25 – 7.00   –   6.25 – 7.00   –   6.25 – 7.00 Gold Equivalent Sold koz   170 – 200   125 – 150   60 – 70   95 – 115   –   450 – 535   –   450 – 535                                     Cost of Sales (GAAP) $M   292 – 358   178 – 224   89 – 109   141 – 168   –   700 – 859   –   700 – 859 By-Product Credits + Treatment & Refining Costs $M   –   (1)   –   (35)   –   (36)   –   (36) Cash Cost (non-GAAP) (20) $M   292 – 358   177 – 223   89 – 109   106 – 133   –   664 – 823   –   664 – 823 Sustaining Capital Expenditures (21) $M   108   34   42   18   –   202   –   202 Reclamation Cost Accretion & Amortization $M   3   15   2   2   –   22   –   22 General & Administrative $M   –   –   –   –   65 – 70   65 – 70   –   65 – 70 Share-Based Compensation (22) $M   –   –   –   –   50 – 60   50 – 60   –   50 – 60 Care & Maintenance (23) $M   –   –   –   –   –   –   80 – 100   80 – 100 All-In Sustaining Cost (non-GAAP) (20) $M   403 – 469   226 – 272   133 – 153   126 – 153   115 – 130   1,003 – 1,177   80 – 100   1,083 – 1,277                                     Cost of Sales per Ounce (GAAP) $/oz   1,720 – 1,790   1,420 – 1,490   1,480 – 1,550   22.30 – 24.30   –   1,560 – 1,640   –   1,560 – 1,640 Cash Cost per Ounce (non-GAAP) (20) $/oz   1,720 – 1,790   1,410 – 1,480   1,480 – 1,550   17.00 – 19.00   –   1,480 – 1,560   –   1,480 – 1,560 All-In Sustaining Cost per Ounce (non-GAAP) (20) $/oz   2,320 – 2,390   1,780 – 1,850   2,170 – 2,240   20.00 – 22.00   –   2,180 – 2,260   –   2,360 – 2,440 (19) Amounts presented on 100% basis. Figures may not add due to rounding. In 2026, in an effort to limit the impact of gold and silver price volatility, SSR Mining will fix its gold to silver ratio for the purposes of GEO calculations to 63:1. See “Assumptions” earlier in the endnotes of this press release for additional information. (20) The Company reports non-GAAP financial measures including cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. Cost of sales excludes depreciation, depletion, and amortization. Total AISC includes G&A costs and share-based compensation but excludes any care & maintenance costs incurred at Çöpler. Consolidated AISC reflects the cash component of care & maintenance costs incurred at Çöpler in the event the operation did not restart within 2026. (21) Refer to “2026 Capital Guidance” table within the press release titled “SSR Mining Reports Full-Year Results and 2026 Operating Guidance” dated February 17, 2026 for a breakdown of sustaining capital expenditures. No material capital expenditures for Çöpler are included in this guidance. (22) Share-based compensation guidance uses a reference price of approximately US$32.50 per share. (23) Reflects the cash component of care & maintenance expenses of approximately $20 - $25 million per quarter that are expected to be incurred at Çöpler. At this time the Company is not able to estimate or predict if, when and under what conditions operations will resume. Non-GAAP Measure - Adjusted Net Income (Loss) Attributable to SSR Mining Shareholders Adjusted attributable net income (loss) and adjusted attributable net income (loss) per share are used by management to measure the Company's underlying operating performance. We believe this measure is also useful for shareholders to assess the Company’s operating performance. The most directly comparable financial measures prepared in accordance with GAAP are net income (loss) attributable to SSR Mining shareholders and net income (loss) per share attributable to SSR Mining shareholders. Adjusted net income (loss) attributable to SSR Mining shareholders is defined as net income (loss) adjusted to exclude the after-tax impact of specific items that are significant, but not reflective of the Company's underlying operations, including the impacts of impairment charges; and inflationary impacts on tax balances. The following table provides a reconciliation of Net income (loss) attributable to SSR Mining shareholders to adjusted net income (loss) attributable to SSR Mining shareholders: (in thousands of US dollars, except per share data) Three Months Ended March 31,   2026 2025 Net income (loss) attributable to SSR Mining shareholders (GAAP) $ (106,450) $ 58,781 Net income (loss) attributable to SSR Mining shareholders from discontinued operations (GAAP) $ (358,926) $ (26,920) Net income attributable to SSR Mining shareholders from continuing operations (GAAP) $ 252,476 $ 85,701 Interest saving on Convertible Notes, net of tax $ 916 $ 1,232 Net income used in the calculation of diluted net income per share from continuing operations $ 253,392 $ 86,933           Weighted-average shares used in the calculation of net income (loss) per share         Basic   205,619   202,420 Diluted   217,651   216,546           Net income per share attributable to SSR Mining shareholders from continuing operations         Basic $ 1.23 $ 0.42 Diluted $ 1.16 $ 0.40           Adjustments:         CC&V transaction and integration costs $ — $ 6,795 Change in fair value of marketable securities $ (838) $ (1,656) Income tax impact related to above adjustments $ 338 $ (903) Inflationary impacts on tax balances $ (2,815) $ (2,695) Adjusted net income attributable to SSR Mining shareholders from continuing operations (Non-GAAP) $ 250,077 $ 88,474           Adjusted net income per share attributable to SSR Mining shareholders from continuing operations (Non-GAAP)         Basic $ 1.22 $ 0.44 Diluted (24) $ 1.15 $ 0.41 (24) Adjusted net income (loss) per diluted share attributable to SSR Mining shareholders from continuing operations is calculated using diluted common shares, which are calculated in accordance with GAAP. Non-GAAP Measure - Free Cash Flow From Continuing Operations, Cash Flow From Operating Activities From Continuing Operations Before Changes in Working Capital, Free Cash Flow From Continuing Operations Before Changes in Working Capital, and Mine Site Free Cash Flow The Company uses free cash flow and mine site free cash flow to supplement information in its condensed consolidated financial statements. The most directly comparable financial measure prepared in accordance with GAAP to free cash flow is cash provided by operating activities and the most directly comparable financial measure prepared in accordance with GAAP to mine site free cash flow is mine segment revenue. The Company believes that in addition to conventional measures prepared in accordance with US GAAP, certain investors and analysts use this information to evaluate the ability of the Company to generate cash flow after capital investments and build the Company's cash resources and, with respect to one of mine segments, to evaluate the cash generated from a mine. The Company calculates free cash flow by deducting cash capital spending from cash generated by operating activities. The Company does not deduct payments made for business acquisitions. The Company calculates mine site free cash flow by deducting cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes from revenue from a particular segment. The following table provides a reconciliation of cash provided by operating activities to free cash flow: (in thousands of US dollars) Three Months Ended March 31,   2026 2025 Cash provided by operating activities from operations (GAAP) $ 264,489 $ 82,336 Expenditures on mineral properties, plant and equipment from operations $ (89,307) $ (45,507) Free cash flow from operations (non-GAAP) $ 175,182 $ 36,829           Cash provided by operating activities from operations (GAAP) $ 264,489 $ 82,336 Cash provided by (used in) operating activities from discontinued operations (GAAP) $ (35,119) $ (34,365) Cash provided by operating activities from continuing operations (GAAP) $ 299,608 $ 116,701 Expenditures on mineral properties, plant and equipment from continuing operations $ (88,826) $ (44,807) Free cash flow from continuing operations (non-GAAP) $ 210,782 $ 71,894 We also present operating cash flow before working capital adjustments and free cash flow before working capital adjustments as non-GAAP cash flow measures to supplement our operating cash flow and free cash flow (non-GAAP) measures. We believe presenting both operating cash flow and free cash flow before working capital adjustments, which reflects an exclusion of net changes in operating assets and liabilities, will be useful for investors because it presents cash flow that is actually generated from the continuing business. The Company calculates cash generated by (used in) operating activities before changes in working capital by adjusting cash generated by (used in) operating activities by the net change in operating assets and liabilities. The Company also calculates free cash flow before changes in working capital by deducting cash capital spending from cash flow from operating activities before changes in working capital. The following table provides a reconciliation of cash provided by operating activities to cash generated by (used in) operating activities before changes in working capital, and free cash flow before changes in working capital: (in thousands of US dollars) Three Months Ended March 31,   2026 2025 Cash provided by operating activities from operations (GAAP) $ 264,489 $ 82,336 Cash provided by (used in) operating activities from discontinued operations (GAAP) $ (35,119) $ (34,365) Cash provided by operating activities from continuing operations (GAAP) $ 299,608 $ 116,701 Net change in operating assets and liabilities $ 9,573 $ 14,528 Cash provided by operating activities from continuing operations before changes in working capital (non-GAAP) $ 309,181 $ 131,229 Expenditures on mineral properties, plant and equipment from continuing operations $ (88,826) $ (44,807) Free cash flow from continuing operations before changes in working capital (non-GAAP) $ 220,355 $ 86,422 We also present operating mine site free cash flow as non-GAAP measure to supplement our operating cash flow and free cash flow (non-GAAP) measures. The Company calculates mine site free cash flow as revenue less cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes. We believe presenting asset level revenue minus large cash expenditures will be useful for investors because it represents a view of how much cash is actually generated and spent that is directly attributable to a specific site. The following table provides a reconciliation of mine site free cash flow for CC&V and Puna: (in millions of US dollars)   Three Months Ended March 31, 2026   Since Acquisition     CC&V   Puna   CC&V (25) Revenue (GAAP)   $ 186.5   $ 179.2   $ 636.9 Cost of sales   $ (54.7)   $ (47.5)   $ (212.1) Exploration & reclamation   $ (4.0)   $ (3.4)   $ (17.6) Capital expenditures   $ (7.5)   $ (4.7)   $ (48.9) Mine site free cash flow before taxes (non-GAAP)   $ 120.2   $ 123.6   $ 358.2 Taxes   $ —   $ (0.9)   $ (32.5) Mine site free cash flow (non-GAAP)   $ 120.2   $ 122.7   $ 325.7 (25) CC&V data represents the period from February 28, 2025, the closing date of the CC&V acquisition, to March 31, 2026.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260504219260/en/ E-Mail: invest @civilone Original: SSR Mining Reports First Quarter 2026 Results

Silver Above US$80 and a Sixth Straight Year of Deficits -- This Ontario Consolidator Is Targeting Ground Where 50+ Million Ounces Were Produced on Either Side of a Claim LineApril 20, 2026 9:00 AM
PR Newswire (Canada)

Issued on behalf of Nord Precious Metals Mining Inc.Silver set a fresh all-time high of US$121.67 per ounce in January 2026, spent Q1 consolidating, and is now marching back toward US$80 against a structural supply deficit running into its sixth consecutive year. The price backdrop has fundamentally changed what counts as economic silver ground — and one junior just consolidated nearly 4 kilometres of historic boundary through a district where past producers pulled more than 50 million ounces.VANCOUVER, BC, April 20, 2026 /CNW/ -- Equity Insider News Commentary — Silver has torn up its recent price history. Spot silver traded near US$80 per ounce this week, up roughly 150% from twelve months ago, after setting a nominal all-time high of US$121.67 per ounce on January 29, 2026 — the first time in history the metal has traded above US$100.[1][2][3]
The Setup: Six Straight Years of DeficitsBehind the price action is a supply-demand picture that has quietly become one of the most structurally tight in the precious metals complex. The Silver Institute and Metals Focus have warned of a sixth consecutive year of structural deficit in 2026, with 762 million troy ounces drawn from aboveground stocks since 2021 — roughly equivalent to a full year of global mine output.[2]Industrial demand has refused to cool, even at current prices. Solar photovoltaics, EV electronics, and AI-driven data centre infrastructure have collectively underpinned industrial consumption that is forecast to remain at elevated levels through 2026.[2] At the same time, global mine output — while projected to hit a decade high — has not been enough to close the gap.[4]For producers and developers, the implication is straightforward. Ground that was uneconomic a decade ago at sub-US$20 silver now looks very different at US$80 — particularly ground with documented past production and existing infrastructure.A Consolidation That's Never Been Possible BeforeNord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) (FSE: QN3) has closed the March 31, 2026 acquisition of four mining leases in Ontario's Gowganda Silver Camp from Battery Mineral Resources Corp., consolidating nearly 4 kilometres of historic property boundary into a single land package — with approximately half of that boundary running through areas of documented past production.[5]The significance is mechanical rather than abstract. For more than a century, operators on one side of a claim line could follow a mineralized vein right up to the boundary and then stop. Operators on the other side did the same thing in reverse. Drilling across those boundaries wasn't feasible under separate ownership. Today, one company holds title on both sides."The Company is excited to be able to drill through these historically defined artificial boundaries. With one company having title to all the area leases, we expect to identify new mineralization," stated Frank J. Basa, P.Eng., President and CEO of Nord.[5] "Just one of the past-producing mines acquired produced approximately 40 million ounces of silver. Existing permits allow drilling along the boundaries, and new permits will be submitted to allow additional drilling across this highly prospective ground. We are not simply exploring. We have a mill, we have a gravity plant, we have an engineering partner, and we have a regulatory pathway. Every metre we drill now feeds directly into a production plan."[5]The Price Math on Nord's GroundThe leases Nord acquired carry a meaningful footprint of past production and a delineated historical tailings resource. Three of the five largest past-producing mines in the Gowganda Camp — Miller Lake-O'Brien (Siscoe), Castle, and Millerett — now sit within Nord's flagship Castle property.[5] The Miller Lake-O'Brien Mine alone produced approximately 42 million ounces of silver between 1910 and 1972. Nord's own Castle Mine, immediately adjacent, produced 9.9 million ounces. Combined Gowganda Camp production from 1910 to 1989 totalled 60.1 million ounces of silver and 1.4 million pounds of cobalt.[5]On the acquired leases, a historical NI 43-101 indicated tailings resource totals approximately 1,940,000 tonnes grading 47.5 g/t Ag for approximately 2,960,000 contained ounces of silver at a 10 g/t cut-off (GeoVector Management, 2011).[1][5] Historical testwork at Lakefield Research achieved silver recoveries of 77% to 86% on this material, which occurs as coarse, liberated native grains amenable to gravity concentration.[5] At current silver prices, the gross in-situ value of the historical tailings estimate runs into the hundreds of millions of dollars before recovery adjustments — a very different number than at the prices that prevailed when these piles were last considered.Importantly, the historical tailings estimate has not been verified by a Qualified Person as a current mineral resource under NI 43-101, and significant data compilation, re-drilling, re-sampling and data verification may be required before it could be reclassified.[1][5]A Permitted Mill, a 600 tpd Gravity Plant, and a Fast-Track PathwayNord's ability to convert drilling into metal sits on infrastructure that most juniors do not have. TTL Laboratories in Cobalt, Ontario — the only permitted high-grade milling facility in the Cobalt Camp — has already produced refined silver doré, including a 1,000-ounce silver bar from Cobalt Camp material.[5] A 600 tonne-per-day modular gravity plant has been acquired and awaits commissioning upon receipt of the Recovery Permit, for which the Ontario Ministry of Mines has provided an advanced template and 80-day fast-track processing pathway.[5]T Engineering Inc., retained April 8, 2026, is advancing the engineering and pilot-scale testwork required to bring the tailings recovery program into operation under Ontario's Recovery Permit framework.[5] Nord's 2025 3D geological model at Castle East — completed by Ronacher McKenzie Geoscience using 75,000 metres of historical drill data — identified 29 discrete vein structures in a stockwork system hosted by the Nipissing diabase, the same geological host that underlies the acquired Gowganda properties.[5]On the balance sheet side, Nord closed a non-brokered private placement on April 15, 2026, issuing 11,666,667 units at $0.15 per unit for gross proceeds of $1,750,000, earmarked for Castle East exploration and general working capital.[6]How the Silver Space Is Responding to the Price EnvironmentThe current silver price environment has triggered one of the most active strategic rotations the sector has seen in years. M&A, streaming deals, balance sheet resets, and production guidance increases have dominated the newsflow.Pan American Silver Corp. (NASDAQ: PAAS) produced 22.8 million ounces of silver in 2025, including a record 7.3 million ounces in Q4 2025, and has issued 2026 attributable silver production guidance of 25.0 to 27.0 million ounces — a 14% increase at the midpoint.[7]Pan American completed its acquisition of MAG Silver Corp. on September 4, 2025, adding a 44% joint venture interest in the large-scale, high-grade Juanicipio mine in Zacatecas, Mexico, operated by Fresnillo plc.[7] The Company also reported the discovery of at least four new high-grade veins at La Colorada from drilling between November 2025 and January 2026, with silver assays exceeding 1,000 g/t in approximately 40% of reported holes.[7]SSR Mining Inc. (NASDAQ: SSRM) announced a binding agreement on March 4, 2026 to sell its 80% ownership in the Çöpler mine and associated Turkish properties for $1.5 billion in cash, expected to close in Q3 2026.[8]Post-sale, SSR Mining will be a North American-focused precious metals producer with a projected net cash balance of approximately $1.6 billion. The Company has issued 2026 guidance of 450,000 to 535,000 gold equivalent ounces — an approximate 10% increase year-over-year — from Marigold in Nevada, CC&V in Colorado, Seabee in Saskatchewan, and Puna in Argentina, with Puna silver production expected at 7 to 8 million ounces in 2026.[8] SSR initiated a Normal Course Issuer Bid on March 27, 2026 to repurchase up to approximately 10% of its public float.[8]Silvercorp Metals Inc. (NYSE American: SVM) reported record quarterly revenue of approximately $126.1 million in Q3 Fiscal 2026, a 51% year-over-year increase, alongside silver production of 1.9 million ounces and record operating cash flow of $132.9 million.[9]Silvercorp ended Q3 Fiscal 2026 with $462.8 million in cash and short-term investments and $233.2 million in equity investments. The Company also released a PEA for the Condor gold project in Ecuador showing an after-tax NPV (5%) of $522 million and 29% IRR at base case metal prices, rising to $1.56 billion NPV and 61% IRR at near-spot prices.[9]Wheaton Precious Metals Corp. (NYSE: WPM) completed the previously announced silver stream transaction with BHP Group on the Antamina Mine in Peru effective April 1, 2026, with a US$4.3 billion upfront payment.[10]Under the agreement, Wheaton's wholly-owned subsidiary will purchase the equivalent of BHP's 33.75% of payable silver from Antamina until 100 million ounces have been delivered, then 22.5% for the life of mine, with ongoing payments equal to 20% of the spot silver price.[10] The transaction significantly expands Wheaton's long-term silver exposure in one of the world's largest copper-silver byproduct mines.Where the Price Meets the ProjectThe common thread running through the silver majors' 2026 moves — Pan American buying Juanicipio exposure, SSR exiting Turkey to redeploy into North America, Silvercorp posting record revenue off higher realized prices, Wheaton writing a $4.3 billion cheque for Antamina silver — is that the price environment has pulled forward decisions that would not have made sense at US$20 or even US$30 silver.For Nord, the same price environment has pulled forward the economic logic of consolidating a district and drilling across boundaries that were frozen in place for a century. The geological question is no longer hypothetical — the veins on either side of these claim lines were demonstrably mineralized, with more than 50 million ounces of past production on the record.[5] The only thing that wasn't possible was drilling across them.That changes on the next drill program.For continuing coverage of Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) and the silver sector, please visit: Equity-Insider.comDISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity-Insider.com is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca media Corp, who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for Nord Precious Metals Mining. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. ("BAY") There may also be 3rd parties who may have shares of Salazar Resources Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of Nord Precious Metals Mining but reserves the right to buy and sell, and will buy and sell shares of Nord Precious Metals Mining at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Nord Precious Metals Mining. In summary, this is a paid advertisement, we currently do not own any shares of Nord Precious Metals Mining but will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Article Sources[1] APMEX Silver Price page, accessed April 16, 2026. https://www.apmex.com/silver-price[2] Trading Economics, Silver commodity page, accessed April 16, 2026. https://tradingeconomics.com/commodity/silver[3] Bullion.com, Silver Spot Price page, accessed April 16, 2026. https://www.bullion.com/spotprices/silver-price[4] Stocktitan, "Mine output hits a decade high and the silver deficit still won't close," March 2026. https://www.stocktitan.net/news/HL/mine-output-hits-a-decade-high-and-the-silver-deficit-still-won-t-3uk8ozli1vji.html[5] Nord Precious Metals Mining Inc. press release, "Nord Precious Metals Targets Past-Producer High-Grade Silver Boundary Areas with Next Phase of Drilling," April 20, 2026.[6] Nord Precious Metals Mining Inc. press release, "Nord Precious Metals Closes Unit Financings," April 15, 2026. [7] Pan American Silver Corp. press release, "Pan American Silver Achieves 2025 Production Guidance and Provides Guidance for 2026," January 2026; and "Pan American Silver Completes Acquisition of MAG Silver," September 4, 2025. https://panamericansilver.com/news/pan-american-silver-completes-acquisition-of-mag-silver/[8] SSR Mining Inc. press releases, "SSR Mining Announces Binding Agreement to Sell Its Ownership in the Çöpler Mine for $1.5 Billion in Cash," March 4, 2026; and "SSR Mining Reports Full-Year 2025 Results and 2026 Operating Guidance," February 17, 2026. https://www.ssrmining.com/[9] Silvercorp Metals Inc. press release, "Silvercorp Reports Adjusted Net Income of $22.6 Million, $0.10 Per Share, and Cash Flow from Operating Activities of $39.2 Million for Q2 Fiscal 2026," November 6, 2025; and Q3 Fiscal 2026 operational results, January 15, 2026. https://silvercorpmetals.com/[10] Wheaton Precious Metals Corp. press release, "Wheaton Precious Metals Announces Closing of Silver Stream with BHP on Antamina," April 1, 2026. https://www.sec.gov/Archives/edgar/data/1323404/000127956926000263/ex991.htmMedia Contact
Equity Insider
contact @acblanke1Logo: https://mma.prnewswire.com/media/2840019/5919891/Equity_Insider_Logo.jpg 



View original content:https://www.prnewswire.com/news-releases/silver-above-us80-and-a-sixth-straight-year-of-deficits--this-ontario-consolidator-is-targeting-ground-where-50-million-ounces-were-produced-on-either-side-of-a-claim-line-302747189.htmlSOURCE Equity Insider

Original: Silver Above US$80 and a Sixth Straight Year of Deficits -- This Ontario Consolidator Is Targeting Ground Where 50+ Million Ounces Were Produced on Either Side of a Claim Line

SSR Mining to Announce First Quarter 2026 Consolidated Financial Results May 5, 2026April 8, 2026 5:00 PM
Business Wire
SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") will release its first quarter 2026 financial results after markets close on May 5, 2026. A conference call to discuss the results will be held at 5:00 pm EDT on the same day. Investors, media and the public are invited to listen to the conference call.




•







News release containing first quarter consolidated financial results:








 







Tuesday, May 5, 2026, after markets close








 







 






 








•







Conference call and webcast: Tuesday, May 5, 2026, at 5:00 pm EDT








 







Toll-free in U.S. and Canada:






+1 (833) 752-3757








 







All other callers:






+1 (412) 652-1234








 







For the webcast or to register for expedited access to the call: ir.ssrmining.com/investors/events








 







 






 








•







The webcast will be available on our website. Audio replay will be available for two weeks by dialing:








 







Toll-free in U.S. and Canada:






+1 (855) 669-9658, replay code 6278811








 







All other callers:






+1 (412) 317-0088, replay code 6278811







About SSR Mining


SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX.


For more information, please visit: www.ssrmining.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260408963109/en/
E-Mail: invest@ssrmining.com

Phone: +1 (888) 338-0046


Original: SSR Mining to Announce First Quarter 2026 Consolidated Financial Results May 5, 2026

SSR Mining Announces Normal Course Issuer BidMarch 27, 2026 7:00 AM
Business Wire
SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") is pleased to announce that it has filed with and received acceptance from the Toronto Stock Exchange (“TSX”) for a Notice of Intention to make a Normal Course Issuer Bid (“NCIB”) under the requirements of the TSX, permitting SSR Mining to purchase for cancellation up to 21,502,189 common shares of the Company (“Common Shares”), representing approximately 10.0% of the public float of SSR Mining’s total issued and outstanding Common Shares. As of March 26, 2026, SSR Mining had 216,507,895 issued and outstanding Common Shares. This announcement follows SSR Mining’s announcement on February 17, 2026 of its board’s approval of a Common Share buyback program, pursuant to which the Company is permitted to repurchase up to $300 million in Common Shares over a twelve-month period. The approval of the Common Share buyback program permits the Company to execute Common Share repurchases from time to time through a combination of open market purchases, privately negotiated transactions, accelerated share repurchase transactions, automatic share purchase transactions in accordance with an automatic share purchase plan, and other derivative transactions.


SSR Mining believes that the market price of its Common Shares does not always reflect the underlying fundamental value and future growth prospects of the Common Shares. The actual number of Common Shares that may be purchased by SSR Mining, if any, and the timing of such purchases, will be determined by SSR Mining based on a number of factors, including market conditions, financial results, capital investment priorities, the Company’s valuation, and other opportunities to return capital to shareholders.


Under the NCIB, SSR Mining may purchase Common Shares over the next twelve-month period beginning March 31, 2026 and ending March 30, 2027. The exact timing and amount of any purchases will depend on market conditions and other factors. Under the NCIB, SSR Mining is not obligated to acquire any Common Shares and may suspend or discontinue purchases under the NCIB at any time. Any purchases made under the NCIB will be effected through the facilities of the TSX, Nasdaq and/or alternative Canadian and United States trading systems. Any purchases made pursuant to the NCIB will be made in accordance with the rules of the TSX, applicable U.S. securities laws and will be made at the market price at the time of the purchase. Under the NCIB, other than purchases made under block purchase exemptions, the Company may purchase up to 114,131 Common Shares on the TSX during any trading day, such number being 25% of 456,527 Common Shares, which is the average daily trading volume on the TSX for the most recently completed six calendar months prior to the TSX’s acceptance of the notice of the NCIB.


The Company intends to enter into an automatic share purchase plan to be effective March 31, 2026 during the term of the NCIB to allow the Company to purchase Common Shares under the NCIB when the Company would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions and customary self-imposed blackout periods.


About SSR Mining


SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX.


For more information, please visit: www.ssrmining.com.


Cautionary Note Regarding Forward-Looking Information and Statements:


Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and in some cases, can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts.


Forward-looking information and statements in this news release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include, but are not limited to: changes in capital allocation strategies and priorities; local and global political and economic conditions; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; developments with respect to global pandemics, including the duration, severity and scope of a pandemic and potential impacts on mining operations; risks and uncertainties resulting from the incident at Çöpler described in our Annual Report on Form 10-K for the year ended December 31, 2024; and other risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission on EDGAR and the Canadian securities regulatory authorities on SEDAR+.


Forward-looking information and statements in this news release include any statements concerning, among other things: future purchases by the Company of its Common Shares; the Company’s belief that the market price of its Common Shares does not always reflect the underlying fundamental value and future growth prospects of the Company; the Company’s intention to enter into an automatic share purchase plan; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions.


Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of our filings on EDGAR and SEDAR+. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.


The above list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in our filings on our website at www.ssrmining.com, on SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov and other unforeseen events or circumstances. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260326299457/en/
E-Mail: invest@ssrmining.com

Phone: +1 (888) 338-0046


Original: SSR Mining Announces Normal Course Issuer Bid

SSR Mining agrees $1.5 billion sale of Çöpler mine stake to Cengiz HoldingMarch 25, 2026 8:41 AM
IH Market News
SSR Mining Inc. (NASDAQ:SSRM) has entered into a definitive agreement to sell its 80% interest in the Çöpler mine and associated assets in Turkey to Cengiz Holding A.S. for $1.5 billion in cash.The deal follows a memorandum of understanding between the two companies that was announced in March 2026. Completion of the transaction remains subject to regulatory approval from Turkey’s General Directorate of Mining and Petroleum Affairs as well as other customary closing conditions.SSR Mining said it expects the sale to be finalized in the third quarter of 2026.The transaction represents a major divestment for the Denver-based mining group, which operates gold and silver mines in several countries. The Çöpler mine in Turkey is one of the company’s key assets and accounts for a significant portion of its portfolio.Once the regulatory process is completed, Cengiz Holding will assume control of the mine and its related operations.SSR Mining stock price

Original: SSR Mining agrees $1.5 billion sale of Çöpler mine stake to Cengiz Holding

SSR Mining Reports Full-Year 2025 Results and 2026 Operating GuidanceFebruary 17, 2026 4:10 PM
Business Wire

2025 Production of 447,207 Gold Equivalent Ounces (“GEOs”), Above the Midpoint of Annual Production Guidance



Fourth Quarter Operating Cash Flow of $172 Million and Free Cash Flow of $106 Million; Year-end Cash Totals $535 Million (1)



2026 Production Guidance of 450,000 to 535,000 Gold Equivalent Ounces Represents 10% Year-Over-Year Increase in GEOs



Year-End 2025 Mineral Reserves Total 11 Million Gold Equivalent Ounces, a Nearly 40% Year-Over-Year Increase




Continued Investment at Growth Projects Across Portfolio, Including Hod Maden, Buffalo Valley at Marigold, Cortaderas at Puna and Porky at Seabee




SSR Mining’s Board of Directors Approved a Share Buyback Program of up to $300 Million



SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") reports consolidated financial results for the fourth quarter and full-year ended December 31, 2025, as well as updated Mineral Reserves and Mineral Resources (“MRMR”) as of December 31, 2025 and full-year 2026 operating guidance. (1)

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216715575/en/Figure 1: Five-Year Changes to SSR Mining’s Consolidated Gold Equivalent Mineral Reserves (Moz). Changes to SSR Mining’s consolidated gold equivalent Mineral Reserves shown over the five-year period from year-end 2020 to year-end 2025, illustrating Mineral Reserve additions through resource development and exploration drilling activities, as well as the Mineral Reserves added through accretive M&A transactions over the same period.

Consolidated operating results: Fourth quarter 2025 production was 120,267 gold equivalent ounces at consolidated cost of sales of $1,613 per payable ounce and AISC of $2,250 per payable ounce, or $2,002 per payable ounce exclusive of costs incurred at Çöpler in the quarter. For the full-year 2025, the Company produced 447,207 gold equivalent ounces at consolidated cost of sales of $1,472 per payable ounce and AISC of $2,153 per payable ounce, or $1,923 per payable ounce exclusive of costs incurred at Çöpler. Full-year production was above the midpoint of the Company’s 410,000 to 480,000 gold equivalent ounce consolidated guidance range, while full-year AISC were well aligned with the Company’s third quarter disclosures.



Financial results: In the fourth quarter of 2025, the Company reported net income attributable to SSR Mining shareholders of $181.5 million, or $0.84 per diluted share and adjusted net income attributable to SSR Mining shareholders of $190.5 million, or $0.88 per diluted share. For the full-year 2025, SSR Mining reported net income attributable to SSR Mining shareholders of $395.8 million, or $1.85 per diluted share and adjusted net income attributable to SSR Mining shareholders of $430.5 million, or $2.01 per diluted share. In the fourth quarter of 2025, SSR Mining generated $172.1 million in operating cash flow and $106.4 million in free cash flow. Full-year 2025 operating cash flow and free cash flow totaled $471.9 million and $241.6 million, respectively.



Cash and liquidity position: As of December 31, 2025, SSR Mining had a cash and cash equivalent balance of $534.8 million and total liquidity of $1,034.8 million, inclusive of the Company’s undrawn revolving credit facility and accompanying accordion feature.



Capital Returns: On February 13, 2026, SSR Mining’s Board of Directors approved a share buyback program of up to $300 million. Given the Company’s strong free cash flow projections and its portfolio of growth opportunities, the Company sees significant value to its shareholders in pursuing a share buyback program. Share buybacks have historically been an important part of SSR Mining’s capital return strategy with approximately 20 million shares repurchased between 2021 and 2024 at an average price of $15.76 per share. Under the share buyback program, share repurchases may be carried out from time to time over the next twelve months through opportunistic open-market purchases or by other means in amounts and at prices at SSR Mining’s discretion, subject to market and business conditions, applicable legal requirements, and other considerations.



Mineral Reserves & Mineral Resources: Total Proven and Probable Mineral Reserves as of December 31, 2025, were 11.0 million gold equivalent ounces, an increase of nearly 40% as compared to year-end 2024. Total Measured and Indicated Mineral Resources as of December 31, 2025, exclusive of Mineral Reserves, were 9.5 million gold equivalent ounces, an increase of over 80% as compared to year-end 2024. Year-over-year changes in Mineral Reserves and Mineral Resources include the addition of CC&V and the Hod Maden development project to consolidated totals, resource development activity and an increase in the base gold and silver price assumptions for Mineral Reserves to $1,700 and $20.50 per ounce, respectively.



2026 operating guidance: In 2026, SSR Mining expects to deliver production of 450,000 to 535,000 gold equivalent ounces from its Marigold, CC&V, Seabee and Puna operations at consolidated cost of sales of $1,560 to $1,640 per payable ounce and AISC of $2,360 to $2,440 per payable ounce. Exclusive of Care & Maintenance costs at Çöpler, the Company expects full-year consolidated AISC would be $2,180 to $2,260 per payable ounce. The midpoint of 2026 production guidance represents a 10% increase in gold equivalent ounces over 2025 results.



Çöpler: Fourth quarter remediation and reclamation spend at Çöpler was $7.4 million, bringing total remediation spend in 2025 to $21.7 million. Since February 2024, SSR Mining has spent $149.3 million on reclamation and remediation activities at the site.



Hod Maden development project: SSR Mining spent $33.8 million at the Hod Maden development project in the fourth quarter of 2025 as engineering and initial site establishment efforts continued to progress. Full-year spend at Hod Maden totaled $78.2 million, in line with guidance of $60 to $100 million. On January 29, 2026, SSR Mining announced the completion and issuance of a Technical Report Summary for the Hod Maden development project with a $1.7B NPV5% and 39% IRR at consensus commodity prices. For more information on Hod Maden, please see the Hod Maden Technical Report Summary filed on a Current Report on Form 8-K with the Securities and Exchange Commission (“SEC”) on January 30, 2026.



Development & exploration: Throughout 2025, SSR Mining continued to advance key brownfield organic growth projects across the portfolio, including Buffalo Valley at Marigold, Cortaderas at Puna, and Porky at Seabee. These projects represent low-cost, high-return development opportunities and have the potential to meaningfully extend the mine lives at each asset. SSR Mining is also investing $35 million in growth exploration and resource development activity in 2026 as it aims to identify and advance growth targets across its portfolio.



Rod Antal, Executive Chairman of SSR Mining, said, “The fourth quarter of 2025 was a strong finish to the year as we delivered full-year consolidated production above the midpoint of our guidance range at AISC well aligned with expectations. This operating performance allowed us to capitalize on the strong metals prices into year-end and generate approximately $172 million in operating cash flow and $106 million in free cash flow in the quarter. Our results were buoyed by an excellent fourth quarter at both CC&V and Puna, with each operation exceeding full-year production guidance.


Looking ahead, our 2026 operating guidance has our business on track to deliver a 10% year-over-year increase in gold equivalent ounce production and reinforces our position as the third largest gold producer in the United States. Our consolidated production platform is poised to deliver strong free cash flow in 2026, and we are working hard to continue surfacing additional value for our shareholders through key organic growth initiatives at each of our assets.


Through our continued focus on operational delivery and free cash flow generation, as well as our newly announced share buyback program, we expect to continue building on our positive momentum through 2026.”


Financial and Operating Summary


A summary of the Company's consolidated financial and operating results for the three and twelve months ended December 31, 2025 and December 31, 2024 are presented below:




 






 






Three Months Ended






 






Twelve Months Ended








(in thousands, except per share data or otherwise stated)






 






December 31,






 






December 31,








 






 






2025






 






2024






 






2025






 






2024








Financial Results






 






 






 






 






 






 






 






 






 






 






 






 








Revenue






 






$






521,725






 






$






323,187






 






$






1,629,637






 






$






995,618








Cost of sales






 






$






188,032






 






$






153,268






 






$






653,303






 






$






514,032








Operating income (loss)






 






$






202,333






 






$






34,382






 






$






461,442






 






$






(322,285)








Net income (loss)






 






$






170,517






 






$






(3,135)






 






$






362,417






 






$






(352,582)








Net income (loss) attributable to SSR Mining shareholders






 






$






181,457






 






$






5,555






 






$






395,754






 






$






(261,277)








Basic net income (loss) per share attributable to SSR Mining shareholders






 






$






0.89






 






$






0.03






 






$






1.95






 






$






(1.29)








Diluted net income (loss) per share attributable to SSR Mining shareholders






 






$






0.84






 






$






0.03






 






$






1.85






 






$






(1.29)








Adjusted net income attributable to SSR Mining shareholders (1)






 






$






190,465






 






$






21,266






 






$






430,468






 






$






57,591








Basic adjusted net income per share attributable to SSR Mining shareholders (1)






 






$






0.94






 






$






0.11






 






$






2.12






 






$






0.28








Diluted adjusted net income per share attributable to SSR Mining shareholders (1)






 






$






0.88






 






$






0.10






 






$






2.01






 






$






0.28








 






 






 






 






 






 






 






 






 






 






 






 






 








Cash provided by operating activities






 






$






172,051






 






$






94,979






 






$






471,853






 






$






40,130








Cash provided by operating activities before changes in working capital (1)






 






$






211,491






 






$






89,623






 






$






644,511






 






$






112,395








Cash used in investing activities






 






$






(53,342)






 






$






(39,560)






 






$






(339,697)






 






$






(143,116)








Cash provided by financing activities






 






$






5,443






 






$






2,308






 






$






26,170






 






$






6,918








 






 






 






 






 






 






 






 






 






 






 






 






 








Operating Results






 






 






 






 






 






 






 






 






 






 






 






 








Gold produced (oz)






 






 






91,031






 






 






89,178






 






 






333,078






 






 






275,013








Gold sold (oz)






 






 






88,819






 






 






86,320






 






 






331,534






 






 






279,121








Silver produced ('000 oz)






 






 






2,050






 






 






2,970






 






 






9,814






 






 






10,500








Silver sold ('000 oz)






 






 






2,097






 






 






2,709






 






 






9,663






 






 






9,642








Lead produced ('000 lb) (2)






 






 






9,363






 






 






15,409






 






 






45,881






 






 






53,703








Lead sold ('000 lb) (2)






 






 






9,557






 






 






14,276






 






 






46,756






 






 






49,631








Zinc produced ('000 lb) (2)






 






 






1,133






 






 






687






 






 






4,120






 






 






3,641








Zinc sold ('000 lb) (2)






 






 






974






 






 






531






 






 






3,470






 






 






3,121








 






 






 






 






 






 






 






 






 






 






 






 






 








Gold equivalent produced (oz) (3)






 






 






120,267






 






 






124,154






 






 






447,207






 






 






399,267








Gold equivalent sold (oz) (3)






 






 






116,581






 






 






118,220






 






 






443,902






 






 






393,216








 






 






 






 






 






 






 






 






 






 






 






 






 








Average realized gold price ($/oz sold)






 






$






4,142






 






$






2,603






 






$






3,524






 






$






2,381








Average realized silver price ($/oz sold)






 






$






54.83






 






$






31.53






 






$






42.49






 






$






29.16








 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of sales per gold equivalent ounce sold (3)






 






$






1,613






 






$






1,295






 






$






1,472






 






$






1,307








Cash cost per gold equivalent ounce sold (1, 3)






 






$






1,524






 






$






1,203






 






$






1,362






 






$






1,200








AISC per gold equivalent ounce sold (1, 3)






 






$






2,250






 






$






1,857






 






$






2,153






 






$






1,878








 






 






 






 






 






 






 






 






 






 






 






 






 








Financial Position






 






December 31, 2025






 






December 31, 2024








Cash and cash equivalents






 






$






 






534,834






 






$






 






387,882








Current assets






 






$






 






1,287,121






 






$






 






1,029,034








Total assets






 






$






 






6,093,898






 






$






 






5,189,020








Current liabilities






 






$






 






618,357






 






$






 






218,877








Total liabilities






 






$






 






1,779,644






 






$






 






1,242,159








Working capital (4)






 






$






 






668,764






 






$






 






810,157









(1)







The Company reports non-GAAP financial measures including total liquidity, adjusted net income (loss) attributable to SSR Mining shareholders, adjusted net income per share attributable to SSR Mining shareholders, cash provided by operating activities before changes in working capital, free cash flow, mine site free cash flow, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. Cost of sales excludes depreciation, depletion, and amortization. AISC includes the cash component of care and maintenance costs. See “Cautionary Note Regarding Non-GAAP Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to net income (loss), cost of sales, mine segment revenue, and cash generated by operating activities, which are the most comparable GAAP financial measures. Mine site free cash flow means revenue less cost of sales, exploration, evaluation, reclamation expenditures, cash care and maintenance costs, capital expenditures and taxes.








(2)







Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate.








(3)







GEOs are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in the GEO calculations.








(4)







Working capital is defined as current assets less current liabilities.







Full-Year 2026 Guidance


SSR Mining reports its full-year 2026 guidance that includes production, cost, and capital estimates for each asset and on a consolidated basis. The Company has not reflected any production, operating costs, or capital forecasts for Çöpler in its 2026 guidance.


Consolidated production in 2026 is expected to be 55 to 60% weighted to the second half, driven largely by the production profiles at Marigold and CC&V. AISC are expected to be highest in the first half of 2026, reflecting the aforementioned production profile and higher sustaining capital outlays across the portfolio in the first half of the year.




2026 Operating Guidance (5)






 






 






Marigold






 






CC&V






 






Seabee






 






Puna






 






Corporate






 






Total




(Excluding Çöpler)






 






Çöpler






 






Consolidated








Gold Production






koz






 






170 – 200






 






125 – 150






 






60 – 70






 






–






 






–






 






355 – 420






 






–






 






355 – 420








Silver Production






Moz






 






–






 






–






 






–






 






6.25 – 7.00






 






–






 






6.25 – 7.00






 






–






 






6.25 – 7.00








Gold Equivalent Production






koz






 






170 – 200






 






125 – 150






 






60 – 70






 






95 – 115






 






–






 






450 – 535






 






–






 






450 – 535








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of Sales per Ounce (GAAP) (6)






$/oz






 






1,720 – 1,790






 






1,420 – 1,490






 






1,480 – 1,550






 






22.30 – 24.30






 






–






 






1,560 – 1,640






 






–






 






1,560 – 1,640








Cash Cost per Ounce (non-GAAP) (6)






$/oz






 






1,720 – 1,790






 






1,410 – 1,480






 






1,480 – 1,550






 






17.00 – 19.00






 






–






 






1,480 – 1,560






 






–






 






1,480 – 1,560








Sustaining Capital Expenditures (7)






$M






 






108






 






34






 






42






 






18






 






–






 






202






 






–






 






202








General & Administrative






$M






 






–






 






–






 






–






 






–






 






65 – 70






 






65 – 70






 






–






 






65 – 70








Share-Based Compensation (8)






$M






 






–






 






–






 






–






 






–






 






50 – 60






 






50 – 60






 






–






 






50 – 60








Care & Maintenance






$M






 






–






 






–






 






–






 






–






 






–






 






–






 






80 – 100






 






80 – 100








AISC per Ounce (non-GAAP) (6)






$/oz






 






2,320 – 2,390






 






1,780 – 1,850






 






2,170 – 2,240






 






20.00 – 22.00






 






–






 






2,180 – 2,260






 






–






 






2,360 – 2,440









(5)







Amounts presented on 100% basis. As of December 31, 2025, SSR Mining owns 80% of Çöpler. The Company has not reflected any production, operating costs, or capital forecasts for Çöpler in its 2026 guidance. In 2026, in an effort to limit the impact of gold and silver price volatility, SSR Mining will fix its gold to silver ratio for the purposes of GEO calculations to 63:1, reflecting the 60-day average trading prices for each metal. See “Assumptions” at the end of this press release for additional information.








(6)







The Company reports non-GAAP financial measures including cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. Cost of sales excludes depreciation, depletion, and amortization. AISC includes the cash component of care and maintenance costs. See "Cautionary Note Regarding Non-GAAP Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which is the comparable GAAP financial measure.








(7)







Refer to “2026 Capital Guidance” table below for a breakdown of sustaining capital expenditures.








(8)







Share-based compensation guidance uses a reference price of approximately US$32.50 per share.







Sustaining capital spend in 2026 is expected to be 60 to 70% weighted to the first half, reflecting winter road expenditures at Seabee as well as fleet replacements at Marigold. Development capital spend is expected to be highest in the second and third quarters of 2026, driven by investment in leach pad expansions at Marigold and CC&V. Initial works including, engineering completion, access road and site establishment, continue at Hod Maden ahead of a formal construction decision by the joint venture. On a 100% basis, capital expenditure at Hod Maden is expected to total up to $15 million per month on this early works scope. SSR Mining intends to update full year capital guidance to include full project ramp-up following a positive construction decision.




2026 Capital Guidance ($M) (9)






 






Marigold






 






CC&V






 






Seabee






 






Puna






 






Çöpler






 






Other






 






Total








Sustaining Capital






 






106






 






31






 






39






 






18






 






–






 






–






 






194








Sustaining Exploration and Resource Development Expense






 






2






 






3






 






3






 






–






 






–






 






–






 






8








Sustaining Capital Expenditures






 






108






 






34






 






42






 






18






 






–






 






–






 






202








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Growth Capital






 






48






 






55






 






8






 






4






 






–






 






–






 






115








Growth Exploration and Resource Development Expense






 






–






 






–






 






7






 






14






 






–






 






14






 






35








Total Growth Expenditures (10)






 






48






 






55






 






15






 






18






 






–






 






14






 






150









(9)







Amounts presented on 100% basis. As of December 31, 2025, SSR Mining owns 80% of Çöpler and 10% of Hod Maden. SSR Mining can earn-in to own up to 40% of the Hod Maden development project through earn-in payments totaling $120 million, and an additional $30 million in milestone payments to Lidya Mines. All other properties are 100% owned by SSR Mining. Capital expenditures at Çöpler are not included in this guidance. Capital expenditures at Hod Maden are expected to total $15 million per month until a formal construction decision is made by the joint venture, at which point SSR Mining intends to update development capital guidance. Figures may not add due to rounding.








(10)







All exploration and resource development spend is expensed. Growth exploration includes project studies and evaluation expenses.







Marigold, USA


For the three months ended December 31, 2025 and 2024, Marigold produced 42,770 and 59,702 ounces of gold, respectively. Full-year 2025 production at Marigold of 153,535 ounces of gold compared to full-year guidance of 160,000 to 190,000 ounces.


During the fourth quarter of 2025, Marigold reported cost of sales of $1,825 per payable ounce and AISC of $2,089 per payable ounce. For the full-year 2025, cost of sales of $1,635 per payable ounce and AISC of $1,918 per payable ounce, compared to guidance of $1,530 to $1,570 per payable ounce and $1,800 to $1,840 per payable ounce, respectively.




 






 






Three Months Ended






 






Twelve Months Ended








 






 






December 31,






 






December 31,








Operating Data






 






2025






 






2024






 






2025






 






2024








Gold produced (oz)






 






 






42,770






 






 






59,702






 






 






153,535






 






 






168,262








Gold sold (oz)






 






 






40,709






 






 






58,250






 






 






154,024






 






 






167,669








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore mined (kt)






 






 






7,161






 






 






7,343






 






 






19,321






 






 






27,690








Waste removed (kt)






 






 






17,612






 






 






17,271






 






 






79,091






 






 






72,028








Total material mined (kt)






 






 






24,773






 






 






24,615






 






 






98,412






 






 






99,718








Strip ratio






 






 






2.5






 






 






2.4






 






 






4.1






 






 






2.6








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore stacked (kt)






 






 






7,160






 






 






7,343






 






 






19,321






 






 






27,690








Gold grade stacked (g/t)






 






 






0.35






 






 






0.42






 






 






0.39






 






 






0.28








 






 






 






 






 






 






 






 






 






 






 






 






 








Average realized gold price ($/oz sold)






 






$






4,270






 






$






2,601






 






$






3,509






 






$






2,438








Cost of sales ($/oz gold sold)






 






$






1,825






 






$






1,406






 






$






1,635






 






$






1,457








Cash costs ($/oz gold sold) (11)






 






$






1,825






 






$






1,408






 






$






1,636






 






$






1,459








AISC ($/oz gold sold) (11)






 






$






2,089






 






$






1,638






 






$






1,918






 






$






1,711







In 2026, Marigold’s production is expected to be 55 to 60% weighted to the second half, as higher grades stacked in the second quarter are anticipated to drive increased production in the second half. Marigold is expected to stack 21 to 23 million ore tonnes in 2026 at an average grade of approximately 0.4 grams per tonne.


As a result of previously highlighted ore blending requirements and to ensure pad recovery performance, the mine schedule has been updated to account for the blending of durable and non-durable ore. In addition, increased gold prices have resulted in pit expansions and the relocation of a planned waste dump to avoid sterilizing ounces. Overall, life of mine production for Marigold remains unchanged and the total ounces produced over the five-year period are materially the same as reflected in the current TRS. The growth targets of Buffalo Valley and New Millennium continue to advance, and SSR Mining anticipates potentially integrating them into an updated Marigold TRS that is expected to be released in the next 18 months.


Sustaining capital spend at Marigold is approximately 70% weighted to the first half of the year, with AISC expected to peak in the first quarter of 2026. Accordingly, AISC are expected to trend above the full-year guidance range in the first half of the year. Sustaining capital spend for Marigold in 2026 is forecasted to total $108 million, driven largely by spend on fleet replacements, ongoing fleet component purchases and plant upgrades. The investments in Marigold’s mining and hauling fleet are expected to help both near-term haulage requirements and enable the development of a number of potentially significant mine life extension opportunities ahead.




(2026 Guidance)






 






Production (koz)






 






Cost of sales ($/oz) (11)






 






AISC ($/oz) (11)








Gold






 






170 – 200






 






$1,720 – $1,790






 






$2,320 – $2,390









(11)







The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Marigold. See "Cautionary Note Regarding Non-GAAP Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.







Growth opportunities at Marigold include continued advancement of the Buffalo Valley project, which currently hosts approximately 570,000 ounces of gold Mineral Reserves, New Millennium, Marigold North and Valmy South. In 2026, growth capital at Marigold is expected to total $48 million, with the majority of that spend focused on heap leach expansions and continued development of the Buffalo Valley and New Millennium expansion studies.


Cripple Creek & Victor, USA

(For the twelve months ended December 31, 2025, all metrics represent the period from February 28, 2025, the closing date of the CC&V acquisition, to December 31, 2025, unless otherwise stated.)


For the three months ended December 31, 2025, CC&V produced 39,392 ounces of gold. From February 28, 2025 to December 31, 2025, CC&V produced 124,557 ounces of gold. Inclusive of the 28,000 ounces of gold produced in the first two months of 2025 under prior ownership, full-year production from CC&V totaled 152,557 ounces of gold.


During the fourth quarter of 2025, CC&V reported cost of sales of $1,279 per payable ounce and AISC of $1,596 per payable ounce. For the period from February 28, 2025 to December 31, 2025, CC&V reported cost of sales of $1,274 per payable ounce and AISC of $1,555 per payable ounce, better than guidance of $1,470 to $1,510 per payable ounce and $1,800 to $1,840 per payable ounce, respectively.


With the strong close to the year, CC&V recognized over $450 million in revenue and $200 million in mine site free cash flow since acquisition, an impressive result as compared to the initial $100 million upfront cash payment for the asset and total transaction consideration of $275 million. Additionally, during the fourth quarter of 2025, the Company published a TRS for CC&V highlighting an initial 12-year life of mine plan with significant optionality for future growth. For more information on CC&V, please see the CC&V Technical Report Summary filed on a Current Report on Form 8-K with the SEC on November 12, 2025.




 






 






Three Months Ended






 






Twelve Months Ended








 






 






December 31,






 






December 31,








Operating Data






 






2025






 






2024






 






2025






 






2024








Gold produced (oz)






 






 






39,392






 






 






—






 






 






124,557






 






 






—








Gold sold (oz)






 






 






39,460






 






 






—






 






 






123,510






 






 






—








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore mined (kt)






 






 






5,470






 






 






—






 






 






17,658






 






 






—








Waste removed (kt)






 






 






4,318






 






 






—






 






 






13,265






 






 






—








Total material mined (kt)






 






 






9,788






 






 






—






 






 






30,923






 






 






—








Strip ratio






 






 






0.8






 






 






—






 






 






0.8






 






 






—








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore stacked (kt)






 






 






5,431






 






 






—






 






 






17,829






 






 






—








Gold grade stacked (g/t)






 






 






0.40






 






 






—






 






 






0.42






 






 






—








 






 






 






 






 






 






 






 






 






 






 






 






 








Average realized gold price ($/oz sold)






 






$






4,230






 






$






—






 






$






3,635






 






$






—








Cost of sales ($/oz gold sold)






 






$






1,279






 






$






N/A






 






$






1,274






 






$






N/A








Cash costs ($/oz gold sold) (12)






 






$






1,278






 






$






N/A






 






$






1,265






 






$






N/A








AISC ($/oz gold sold) (12)






 






$






1,596






 






$






N/A






 






$






1,555






 






$






N/A







In 2026, production at CC&V is expected to be 50 to 55% weighted to the second half. CC&V is expected to stack 18 to 20 million ore tonnes in 2026 at an average grade of 0.35 to 0.40 grams per tonne and a full-year average stripping ratio of 1.0:1. Sustaining capital is expected to total $34 million in 2026, with more than 60% of that spend incurred in the first half of the year. Accordingly, AISC are expected to trend above the full-year guidance range in the first half of the year.




(2026 Guidance)






 






Production (koz)






 






Cost of sales ($/oz) (12)






 






AISC ($/oz) (12)








Gold






 






125 – 150






 






$1,420 – $1,490






 






$1,780 – $1,850









(12)







The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at CC&V. See "Cautionary Note Regarding Non-GAAP Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.







Development capital spend at CC&V is expected to total $55 million in 2026, primarily driven by expansions to the existing valley leach facilities. As of year-end 2025, CC&V hosted 4.8 million ounces of Measured & Indicated Mineral Resources and an additional 2.0 million ounces of Inferred Mineral Resources, representing significant life of mine extension potential for CC&V in the future.


Seabee, Canada


For the three months ended December 31, 2025 and 2024, Seabee produced 8,869 and 27,811 ounces of gold, respectively. Production from Seabee in 2025 reflected the temporary suspension of operations in the second quarter due to the impacts of regional forest fires, as well as the previously guided effort to prioritize underground mine development in the second half of the year. For the twelve months ended December 31, 2025, Seabee produced 54,986 ounces of gold, compared to production guidance of 70,000 to 80,000 ounces.


During the fourth quarter of 2025, Seabee reported cost of sales of $2,435 per payable ounce and AISC of $3,433 per payable ounce. For the full-year 2025, Seabee reported cost of sales of $1,525 per payable ounce and AISC of $2,231 per payable ounce, compared to guidance of $1,230 to $1,270 per payable ounce and $1,710 to $1,750 per payable ounce, respectively.




 






 






Three Months Ended






 






Twelve Months Ended








 






 






December 31,






 






December 31, (13)








Operating Data






 






2025






 






2024






 






2025






 






2024








Gold produced (oz)






 






 






8,869






 






 






27,811






 






 






54,986






 






 






78,545








Gold sold (oz)






 






 






8,650






 






 






26,350






 






 






54,000






 






 






81,070








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore mined (kt)






 






 






92






 






 






90






 






 






326






 






 






365








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore milled (kt)






 






 






91






 






 






92






 






 






331






 






 






366








Gold mill feed grade (g/t)






 






 






3.16






 






 






9.66






 






 






5.25






 






 






6.93








Gold recovery (%)






 






 






95.0






 






 






97.2






 






 






96.4






 






 






96.4








 






 






 






 






 






 






 






 






 






 






 






 






 








Average realized gold price ($/oz sold)






 






$






4,247






 






$






2,632






 






$






3,316






 






$






2,362








Cost of sales ($/oz gold sold)






 






$






2,435






 






$






816






 






$






1,525






 






$






960








Cash costs ($/oz gold sold) (14)






 






$






2,435






 






$






817






 






$






1,525






 






$






961








AISC ($/oz gold sold) (14)






 






$






3,433






 






$






1,214






 






$






2,231






 






$






1,515









(13)







Operations for the twelve months ended December 31, 2025 and 2024 were impacted by forest fires. See the Company’s Annual Report on Form 10-K for additional details.







In 2026, production from Seabee is expected to be strongest in the fourth quarter due to higher grades. Over the course of the year, processed grades at Seabee are expected to average approximately 5.0 g/t, while process plant throughputs are expected to average approximately 1,200 tonnes per day, inclusive of planned maintenance downtime in the second quarter. AISC are expected to be highest in the first half of the year, particularly the first quarter, reflecting the typical spend profile associated with the winter road season. Sustaining capital expenditures are planned to total $42 million in 2026.




(2026 Guidance)






 






Production (koz)






 






Cost of sales ($/oz) (14)






 






AISC ($/oz) (14)








Gold






 






60 – 70






 






$1,480 – $1,550






 






$2,170 – $2,240









(14)







The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Seabee. See "Cautionary Note Regarding Non-GAAP Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.







Growth expenditures at Seabee are expected to total $15 million in 2026 as the Company advances near-mine drilling exploration and resource development activity at Santoy and progresses engineering at Porky ahead of potential development in 2027. An initial 203,000 ounce Mineral Reserve was declared at Porky in 2025 with the potential to represent a new underground mining front to further complement and extend the existing Seabee mine life.


Puna, Argentina


For the three months ended December 31, 2025 and 2024, Puna produced 2.1 and 3.0 million ounces of silver, respectively. For the twelve months ended December 31, 2025 and 2024, Puna produced 9.8 and 10.5 million ounces of silver, respectively. Puna’s full-year 2025 production of 9.8 million ounces of silver exceeded full-year production guidance of 8.00 to 8.75 million ounces for the third consecutive year. The strong operating results at Puna were supported by continuous improvements in the performance of the Pirquitas process plant, which achieved quarterly and full-year records in tonnes processed in the fourth quarter and full-year 2025, respectively.


For the fourth quarter of 2025, Puna reported cost of sales of $20.13 per payable ounce and AISC of $18.39 per payable ounce. For the full-year 2025, Puna reported cost of sales of $16.74 per payable ounce and AISC of $14.24 per payable ounce. Full-year AISC at Puna were better than the mine’s 2025 AISC guidance range of $14.25 to $15.75 per payable ounce. Puna realized nearly $460 million in revenue and generated mine site free cash flow of over $250 million in 2025.




 






 






Three Months Ended






 






Twelve Months Ended








 






 






December 31,






 






December 31,








Operating Data






 






2025






 






2024






 






2025






 






2024








Silver produced ('000 oz)






 






 






2,050






 






 






2,970






 






 






9,814






 






 






10,500








Silver sold ('000 oz)






 






 






2,097






 






 






2,709






 






 






9,663






 






 






9,642








Lead produced ('000 lb)






 






 






9,363






 






 






15,409






 






 






45,881






 






 






53,703








Lead sold ('000 lb)






 






 






9,557






 






 






14,276






 






 






46,756






 






 






49,631








Zinc produced ('000 lb)






 






 






1,133






 






 






687






 






 






4,120






 






 






3,641








Zinc sold ('000 lb)






 






 






974






 






 






531






 






 






3,470






 






 






3,121








Gold equivalent sold (oz) (15)






 






 






27,762






 






 






31,900






 






 






112,368






 






 






114,095








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore mined (kt)






 






 






332






 






 






750






 






 






1,802






 






 






2,328








Waste removed (kt)






 






 






1,892






 






 






1,337






 






 






6,406






 






 






5,900








Total material mined (kt)






 






 






2,225






 






 






2,087






 






 






8,208






 






 






8,228








Strip ratio






 






 






5.7






 






 






1.8






 






 






3.6






 






 






2.5








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore milled (kt)






 






 






513






 






 






489






 






 






1,965






 






 






1,862








Silver mill feed grade (g/t)






 






 






129.6






 






 






194.0






 






 






161.8






 






 






181.0








Lead mill feed grade (%)






 






 






0.90






 






 






1.48






 






 






1.14






 






 






1.37








Zinc mill feed grade (%)






 






 






0.22






 






 






0.18






 






 






0.23






 






 






0.20








Silver mill recovery (%)






 






 






95.8






 






 






97.3






 






 






96.0






 






 






96.9








Lead mill recovery (%)






 






 






91.8






 






 






96.3






 






 






93.2






 






 






95.6








Zinc mill recovery (%)






 






 






45.5






 






 






36.3






 






 






40.9






 






 






44.2








 






 






 






 






 






 






 






 






 






 






 






 






 








Average realized silver price ($/oz sold)






 






$






63.33






 






$






31.53






 






$






42.49






 






$






29.16








Cost of sales ($/oz silver sold)






 






$






20.13






 






$






15.84






 






$






16.74






 






$






16.14








Cash costs ($/oz silver sold) (16)






 






$






15.21






 






$






11.47






 






$






11.79






 






$






11.64








AISC ($/oz silver sold) (16)






 






$






18.39






 






$






16.06






 






$






14.24






 






$






15.56









(15)







GEOs are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in the GEO calculations.







In 2026, production at Puna is expected to be 50 to 55% weighted to the first half, driven largely by grades processed. Process plant throughputs in 2026 are expected to average 5,250 to 5,500 tonnes per day at average grades of 110 to 120 g/t silver. AISC are expected to be highest in the first half of 2026, including a peak in the second quarter, largely reflecting the sustaining capital spend profile which is nearly 75% weighted to the first half. Sustaining capital expenditures at Puna are expected to total $18 million in 2026 and are primarily related to equipment and process plant component costs.




(2026 Guidance)






 






Production (Moz)






 






Cost of sales ($/oz) (16)






 






AISC ($/oz) (16)








Silver






 






6.25 – 7.00






 






$22.30 – $24.30






 






$20.00 – $22.00









(16)







The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna. See “Cautionary Note Regarding Non-GAAP Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.







During the second quarter of 2025, the Company announced a three-year extension to Puna’s mine life. Subsequently, SSR Mining has continued to advance analysis and engineering work on pathways for additional mine life extension, including expansion opportunities at Chinchillas through additional pit laybacks and evaluation of the Melina target to the northeast of the current pit. Evaluation of the brownfield Cortaderas deposit, which represents a potential underground mining target for Puna in the future, has also continued to progress positively.


At Cortaderas, drilling in 2025 extended mineralization in the main breccia zone to the west and also discovered an additional mineralized footwall zone. These results have not been incorporated into the year-end 2025 MRMR update at Puna, and additional drilling is planned at both targets in 2026. Further details on these mine life extension opportunities will be provided over the next 12 to 18 months.


In light of the recent volatility in gold and silver prices, SSR Mining has elected to use a consistent gold to silver price ratio in its calculation of gold equivalent ounces. For 2026, this ratio is 63:1, reflecting the 60-day trailing average gold and silver prices.


Çöpler, Türkiye

(amounts presented on 100% basis)


Operations at Çöpler were suspended following the February 13, 2024 incident at the Çöpler mine (the “Çöpler Incident”). During the suspension, care and maintenance expense has been recorded which represents depreciation and direct costs not associated with the environmental reclamation and remediation costs.


During 2025, the Company spent $21.7 million on reclamation and remediation bringing total spending related to the Çöpler Incident to $149.3 million.




 






 






Three Months Ended






 






Twelve Months Ended








 






 






December 31,






 






December 31,








Operating Data






 






2025






 






2024






 






2025






 






2024








Gold produced (oz)






 






 






—






 






 






1,665






 






 






—






 






 






28,206








Gold sold (oz)






 






 






—






 






 






1,720






 






 






—






 






 






30,382








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore mined (kt)






 






 






—






 






 






—






 






 






—






 






 






266








Waste removed (kt)






 






 






—






 






 






—






 






 






—






 






 






3,571








Total material mined (kt)






 






 






—






 






 






—






 






 






—






 






 






3,837








Strip ratio






 






 






—






 






 






—






 






 






—






 






 






13.4








 






 






 






 






 






 






 






 






 






 






 






 






 








Ore stacked (kt)






 






 






—






 






 






—






 






 






—






 






 






184








Gold grade stacked (g/t)






 






 






—






 






 






—






 






 






—






 






 






1.17








 






 






 






 






 






 






 






 






 






 






 






 






 








Average realized gold price ($/oz sold)






 






$






—






 






$






2,230






 






$






—






 






$






2,103








Cost of sales ($/oz gold sold)






 






$






N/A






 






$






3,921






 






$






N/A






 






$






1,192








Cash costs ($/oz gold sold) (17)






 






$






N/A






 






$






4,419






 






$






N/A






 






$






1,222








AISC ($/oz gold sold) (17)






 






$






N/A






 






$






18,051






 






$






N/A






 






$






3,814









(17)







The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Çöpler. See "Cautionary Note Regarding Non-GAAP Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization. SSR Mining owns 80% of Çöpler.







In 2026, Çöpler is expected to incur quarterly care and maintenance costs of approximately $35 to $40 million while the mine is not in operation. This includes $20 to $25 million in cash care and maintenance costs per quarter, which impact the Company’s consolidated AISC.


Growth Exploration and Resource Development


In 2026, growth exploration and resource development expenditures are expected to total $35 million. Growth capital spend in 2026 is expected to total $115 million, excluding development capital at Hod Maden, as the Company makes meaningful investments in leach pad expansions at Marigold and CC&V.


On January 29, 2026, SSR Mining announced the completion of a Technical Report Summary for the Hod Maden development project which highlighted a $1.7B NPV5% and a 39% IRR at consensus metals prices averaging $3,167 per ounce gold and $4.52 per pound copper over the life of mine. Since acquisition in 2023, SSR Mining has made significant progress in project engineering and procurement activities at Hod Maden, and these activities have meaningfully de-risked the project. This includes meaningful progress on early works activities at site, including earthworks and road development, as well as the advancement of detailed engineering, hiring and procurement.


On a 100% basis, capital expenditure at Hod Maden is expected to total up to $15 million per month on the continuation of these early works ahead of a formal construction decision by the joint venture. Updated growth capital guidance will be provided following a positive construction decision by the joint venture at Hod Maden.


Exploration and development activities are also planned across SSR Mining’s portfolio of earlier stage projects, including at Amisk in Saskatchewan and other greenfield projects in Nevada, Saskatchewan, Türkiye and Argentina.


Mineral Reserves and Mineral Resources (“MRMR”) for Year-End 2025

(The following information should be read in conjunction with Item 2. Properties in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed on February 17, 2026 (the “Annual Report”) and the TRS for each of our material properties included as exhibits to our Annual Report.)


SSR Mining reported its updated MRMR as of December 31, 2025, reflecting depletion that occurred through mining activity, stockpile changes, new Mineral Reserves and Mineral Resources delineated through drilling activity, Mineral Resource conversion and changes to metals price assumptions used in the calculation of Mineral Reserves and Mineral Resources. In addition, following the completion of Technical Report Summaries for CC&V and the Hod Maden development project, the Company is now able to incorporate these properties into its consolidated MRMR statements.


As of year-end 2025, SSR Mining’s Mineral Reserves included 10.6 million ounces of gold and 24.2 million ounces of silver. On a gold equivalent basis, SSR Mining had 11.0 million ounces of Mineral Reserves, a 38% year-over-year increase inclusive of mined depletion.


As per Subpart 1300 of Regulation S-K, the Company’s year-end 2025 MRMR are presented on an attributable basis, reflecting the Company’s ownership interest in each material property. See the Company’s Annual Report for more information.



Commodity price assumptions remain conservative: SSR Mining’s gold and silver price assumptions used in the calculation of Mineral Reserves at Marigold and Puna increased 13% and 8%, respectively, from $1,500 per ounce gold in 2024 to $1,700 per ounce in 2025, and from $19.00 per ounce silver in 2024 to $20.50 per ounce in 2025. The gold Mineral Reserve price of $1,600 per ounce for Seabee in 2024 was increased to $2,000 per ounce in 2025. The lead price of $0.90 per pound was unchanged from 2024 Mineral Reserves, while the zinc price assumption of $1.15 per pound increased from $1.05 in 2024. 2025 Mineral Resource prices of $2,000 per ounce of gold, $23.00 per ounce of silver, $1.30 per pound of zinc and $4.00 per pound of copper reflected minor increases from 2024, while the lead price assumption of $0.95 per pound used in the calculation of Mineral Resources was unchanged from 2024. No changes to metals prices or other assumptions were made with respect to the calculation of Çöpler’s MRMR.



Track record of sustained Mineral Reserve growth: SSR Mining has established a consistent track record of exceeding mined depletion in its annual Mineral Reserve statements since 2020, reflecting the Company’s continued commitment to investment in organic growth projects and resource development activities across its portfolio. Since 2020, mined depletion has totaled 3.3 million gold equivalent ounces, while resource development, exploration activities and other changes to assumptions have more than offset this depletion with the addition of 3.4 million ounces of gold equivalent Mineral Reserves over that time period, excluding the impact of asset acquisitions. Inclusive of M&A activities, SSR Mining’s Mineral Reserves have grown 34% since 2020 to 11.0 million ounces gold equivalent, including mined depletion.



Significant Mineral Resource base supports potential for mine life extensions: As of year-end 2025, SSR Mining had 9.0 million ounces of Measured & Indicated (“M&I”) gold Mineral Resources, a 104% year-over-year increase, and 9.5 million ounces of gold equivalent Mineral Resources, an 82% year-over-year increase. Inferred Mineral Resources total 4.5 million ounces gold and 5.1 million ounces gold equivalent, 97% and 95% year-over-year increases, respectively. SSR Mining will continue to invest in resource development activities across its operating sites with a goal to convert Mineral Resources to Mineral Reserves and support potentially low-cost mine life extension opportunities.



Pipeline of growth projects with potential to deliver longer-term optionality: SSR Mining has a pipeline of highly prospective brownfield growth projects across the portfolio, including Buffalo Valley and New Millennium at Marigold, Chinchillas expansions and the Cortaderas project at Puna, and Porky and the Santoy underground extension targets at Seabee. Additionally, SSR Mining is investing in earlier stage growth programs at its regional properties in Saskatchewan, including Amisk, as well as regional exploration activities in Nevada, Türkiye, and Argentina as it targets longer-term growth potential.





(As of December 31, 2025) (18)






 






Gold






y/y






 






Silver






y/y






 






Lead






 






Zinc






 






Copper






 






GEO (19)






y/y








 






koz






%






 






koz






%






 






Mlb






 






Mlb






 






Mlb






 






koz






%








Total P+P Reserves






 






10,582






40%






 






24,171






(6%)






 






110






 






17






 






22






 






10,989






38%








Total M&I Resource (20)






 






8,967






104%






 






32,698






(29%)






 






40






 






266






 






7






 






9,548






82%








Total Inferred Resource






 






4,456






97%






 






32,272






93%






 






0






 






388






 






3






 






5,085






95%









(18)







Refer to Item 2. Properties in the Company’s Annual Report for asset level detailed summary by asset. MRMR are shown as attributable to SSR Mining only. As of December 31, 2025, SSR Mining owns 80% of Çöpler and 10% of Hod Maden. All other properties are 100% owned by SSR Mining.








(19)







All gold equivalent ounces (GEO) figures are based on the corporate commodity prices listed in the “Assumptions” section in this press release. Metal equivalence is calculated for the respective and applicable metals as follows: GEO = Au oz + ((Ag oz * Ag price) + (Pb lb * Pb price per pound) + (Zn lb * Zn price per pound) + (Cu lb * Cu price per pound)) / (Au price per ounce).








(20)







Measured and indicated Mineral Resources are shown exclusive of Mineral Reserves.







Conference Call Information


This news release should be read in conjunction with the Company’s Annual Report, filed with the SEC and available on the SEC website at www.sec.gov or www.ssrmining.com.



Conference call and webcast: Tuesday, February 17, 2026, at 5:00 pm EST.





 






Toll-free in U.S. and Canada:






+1 (844) 752-3757








 






All other callers:






+1 (412) 652-1234








 






For the webcast:






ir.ssrmining.com/investors/events








The webcast will be available on our website. Audio replay will be available for two weeks by dialing:





 






Toll-free in U.S. and Canada:






+1 (855) 669-9658, replay code 1688664








 






All other callers:






+1 (412) 317-0088, replay code 1688664







About SSR Mining


SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX.


For more information, please visit www.ssrmining.com


Cautionary Note Regarding Forward-Looking Information and Statements:


Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and in some cases, can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts.


Forward-looking information and statements in this news release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include, but are not limited to: local and global political and economic conditions; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; developments with respect to global pandemics, including the duration, severity and scope of a pandemic and potential impacts on mining operations; risks and uncertainties resulting from the incident at Çöpler, including if, when and under what conditions we will be authorized to resume operations and any impact of the incident on our operations in Türkiye, described in our Annual Report on Form 10-K; and other risk factors detailed from time to time in our reports filed with the SEC on EDGAR and the Canadian securities regulatory authorities on SEDAR.


Forward-looking information and statements in this news release include any statements concerning, among other things: all information related to if, when, and under what conditions we will be authorized to resume operations at Çöpler, including timetable, outlook, preliminary costs, remediation plans and costs, and possible restart plans and associated conditions of any restart; forecasts and outlook; preliminary cost reporting in this document; timing, production, operating, cost, and capital expenditure guidance; our operational and development targets and catalysts and the impact of any suspensions on operations; the results of any gold reconciliations; the ability to discover additional oxide gold ore; the generation of free cash flow and returning cash to shareholders, including via share repurchases or dividends; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; our joint venture governance and operations; negotiation and completion of transactions; commodity prices; Mineral Resources, Mineral Reserves, conversion of Mineral Resources, realization of Mineral Reserves, and the existence or realization of Mineral Resource estimates; the development approach; the timing and amount of future production; the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans; receipt of regulatory approvals; timing and impact surrounding suspension or interruption of operations as a result of regulatory requirements or actions by governmental authority; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions.


Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of our filings on EDGAR and SEDAR, and include: the uncertainty related to and the assumptions made in respect of the Company’s Çöpler operations as a result of the incident and any impact of such incident on our operations in Türkiye described above; the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of current and future joint ventures and their governance and operations; weather conditions at our operations; commodity prices; the ultimate determination of and realization of Mineral Reserves; existence or realization of Mineral Resources; the development approach; availability and receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize, and execute relevant agreements; the Company’s ability to efficiently integrate acquired mines and businesses and to manage the costs related to any such integration, or to retain key technical, professional or management personnel; lack of social opposition to our mines or facilities; lack of legal challenges with respect to our properties; the timing and amount of future production; the ability to meet production, cost, and capital expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral products on economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.


The above list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in our filings on our website at www.ssrmining.com, on SEDAR at www.sedarplus.ca, and on EDGAR at www.sec.gov and other unforeseen events or circumstances. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.


Assumptions


All figures related to 2026 production and cost guidance are subject to the key assumptions, risks and uncertainties described under “Cautionary Note Regarding Forward-Looking Information and Statements”. All 2026 production and cost guidance figures are presented on a 100% basis and in U.S. dollars, unless otherwise noted. Share-based compensation guidance uses a reference price of approximately US$32.50 per share. As of December 31, 2025, SSR Mining owns 80% of Çöpler and 10% of Hod Maden. All other properties are 100% owned by SSR Mining.


In an effort to limit the impact of gold and silver price volatility, SSR Mining has fixed its gold to silver ratio to 63:1 for the purposes of its 2026 GEO production and cost calculations. This reflects the 60-day average trading prices for each metal. The Company does not include by-products in the GEO calculations.


All information regarding Mineral Reserves and Mineral Resources should be read in conjunction with Item 2. Properties in the Company’s Annual Report and the TRS for each of our material properties included as exhibits to our Annual Report.


Metals prices used for preparation of the Mineral Reserves and Mineral Resources estimates were selected, in each case, by the Qualified Persons. Key assets are summarized in the tables below. Gold equivalent MRMR figures are based on the corporate commodity price assumptions listed below. Measured and indicated Mineral Resources are shown exclusive of Mineral Reserves. All MRMR figures are presented on an attributable basis to SSR Mining’s ownership for each asset.




 






 






2025






 






2024








Mineral Reserves






 






Gold






Silver






Lead






Zinc






Copper






 






Gold






Silver






Lead






Zinc






Copper








Metal Prices Assumptions






 






($/oz)






($/oz)






($/lb)






($/lb)






($/lb)






 






($/oz)






($/oz)






($/lb)






($/lb)






($/lb)








Marigold






 






$1,700






—






—






—






—






 






$1,500






—






—






—






—








CC&V






 






$1,700






—






—






—






—






 






N/A






N/A






N/A






N/A






N/A








Seabee






 






$2,000






—






—






—






—






 






$1,600






—






—






—






—








Puna






 






—






$20.50






$0.90






$1.15






—






 






—






$19.00






$0.90






$1.05






—








Çöpler






 






$1,450






—






—






—






—






 






$1,450






—






—






—






—








Hod Maden






 






$1,700






—






—






—






$3.50






 






N/A






N/A






—






—






N/A








Corporate






 






$1,700






$20.50






$0.90






$1.15






$3.50






 






$1,500






$19.00






$0.90






$1.05






$3.30









 






 






2025






 






2024








Mineral Resources






 






Gold






Silver






Lead






Zinc






Copper






 






Gold






Silver






Lead






Zinc






Copper








Metal Prices Assumptions






 






($/oz)






($/oz)






($/lb)






($/lb)






($/lb)






 






($/oz)






($/oz)






($/lb)






($/lb)






($/lb)








Marigold






 






$2,000






—






—






—






—






 






$1,750






—






—






—






—








CC&V






 






$2,000






—






—






—






—






 






N/A






N/A






N/A






N/A






N/A








Seabee






 






$2,200






—






—






—






—






 






$1,750






—






—






—






—








Puna






 






—






$23.00






$0.95






$1.30






—






 






—






$22.00






$0.95






$1.15






—








Çöpler






 






$1,750






—






—






—






—






 






$1,750






—






—






—






—








Hod Maden






 






$2,000






—






—






—






$4.00






 






N/A






N/A






—






—






N/A








Corporate






 






$2,000






$23.00






$0.95






$1.30






$4.00






 






$1,750






$22.00






$0.95






$1.15






$3.95







Cautionary Note Regarding Non-GAAP Measures


We have included certain non-GAAP performance measures throughout this document. These performance measures are employed by us to measure our operating and economic performance internally and to assist in decision-making, as well as to provide key performance information to senior management. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance; however, these non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definitions of our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. These non-GAAP measures should be read in conjunction with our condensed consolidated interim financial statements.


Total Cash, Total Debt, Net Cash, Total Liquidity, Cash costs, AISC per ounce sold, free cash flow, and mine site free cash flow are Non-GAAP Measures with no standardized definition under U.S. GAAP.


Non-GAAP Measure – Total Cash, Total Debt, Net Cash and Total Liquidity


Total cash, Total debt, and Net cash (debt) are used by management and investors to measure the Company's underlying operating performance. The Company believes that these measures are a useful measure for shareholders as it helps evaluate liquidity and available cash. Total cash is calculated as Cash and cash equivalents plus Restricted cash and Total debt is calculated as the face value of the Company’s 2019 convertible notes plus other current debt.


The following table provides a reconciliation of cash and cash equivalents to net cash:




 






As of








(in thousands)






 






December 31, 2025






 






December 31, 2024








Cash and cash equivalents






 






$






534,834






 






$






387,882








Restricted cash






 






$






—






 






$






—








Total Cash






 






$






534,834






 






$






387,882








 






 






 






 






 






 






 








Face Value of 2019 Convertible Notes






 






$






230,000






 






$






230,000








Other Debt






 






$






—






 






$






—








Total Debt






 






$






230,000






 






$






230,000








 






 






 






 






 






 






 








Net Cash (Debt)






 






$






304,834






 






$






157,882







In addition to Net cash (debt), the Company also uses Total liquidity to measure its financial position. Total liquidity is calculated as Cash and cash equivalents plus Restricted cash and borrowing capacity under current revolving credit facilities, including accordion features. As of December 31, 2025, no borrowings were outstanding on the Company’s $400 million credit facility with a $100 million accordion feature.


The following table provides a reconciliation of Cash and cash equivalents to Total liquidity:




 






As of








(in thousands)






 






December 31, 2025






 






December 31, 2024








Cash and cash equivalents






 






$






534,834






 






$






387,882








Restricted cash






 






$






—






 






$






—








Total Cash






 






$






534,834






 






$






387,882








Borrowing capacity on credit facility






 






$






400,000






 






$






400,000








Borrowing capacity on accordion feature of credit facility






 






$






100,000






 






$






100,000








Total Liquidity (21)






 






$






1,034,834






 






$






887,882









(21)







Excludes $0.5 million in letters of credit. Inclusive of these letters of credit, total liquidity is $1,034.3 million.







Non-GAAP Measure - Cash Costs and AISC


Cash Costs and All-In Sustaining Costs (“AISC”) per payable ounce of gold and respective unit cost measures are non-U.S. GAAP metrics developed by the World Gold Council to provide transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The World Gold Council is a market development organization for the gold industry.


The Company uses cash costs per ounce of precious metals sold and AISC per ounce of precious metals to monitor its operating performance internally. The most directly comparable measure prepared in accordance with GAAP is cost of sales. The Company believes this measure provides investors and analysts with useful information about its underlying cash costs of operations and the impact of byproduct credits on its cost structure. The Company also believes it is a relevant metric used to understand its operating profitability. When deriving the cost of sales associated with an ounce of precious metal, the Company includes by-product credits, which allows management and other stakeholders to assess the net costs of gold and silver production.


AISC includes total cost of sales incurred at the Company's mining operations, which forms the basis of cash costs. Additionally, the Company includes sustaining capital expenditures, sustaining mine-site exploration and evaluation costs, reclamation cost accretion and amortization, and general and administrative expenses. This measure seeks to reflect the ongoing cost of gold and silver production from current operations; therefore, growth capital is excluded. The Company determines sustaining capital to be capital expenditures that are necessary to maintain current production and execute the current mine plan. The Company determines growth capital to be those payments used to develop new operations or related to projects at existing operations where those projects will materially benefit the operation.


The Company believes that AISC provides additional information to management and stakeholders that provides visibility to better define the total costs associated with production and better understanding of the economics of the Company's operations and performance compared to other producers. In deriving the number of ounces of precious metal sold, the Company considers the physical ounces available for sale after the treatment and refining process, commonly referred to as payable metal, as this is what is sold to third parties.


The following tables provide a reconciliation of Cost of sales to cash costs and AISC:




 






 






Three Months Ended December 31, 2025








(in thousands, unless otherwise noted)






 






Marigold






 






CC&V






 






Seabee






 






Puna






 






Corporate






 






Total






 






Çöpler






 






Consolidated








Cost of sales (GAAP) (22)






 






$






74,295






 






$






50,468






 






$






21,062






 






$






42,205






 






$






—






 






$






188,032






 






$






—






 






$






188,032








By-product credits






 






$






(56)






 






$






(330)






 






$






(17)






 






$






(9,557)






 






$






—






 






$






(9,959)






 






$






—






 






$






(9,959)








Treatment and refining charges






 






$






65






 






$






285






 






$






18






 






$






(753)






 






$






—






 






$






(385)






 






$






—






 






$






(385)








Cash costs (non-GAAP)






 






$






74,305






 






$






50,423






 






$






21,063






 






$






31,896






 






$






—






 






$






177,687






 






$






—






 






$






177,687








Sustaining capital and lease related expenditures






 






$






9,880






 






$






8,718






 






$






8,099






 






$






4,819






 






$






—






 






$






31,517






 






$






2,508






 






$






34,024








Sustaining exploration and evaluation expense






 






$






(33)






 






$






—






 






$






—






 






$






—






 






$






—






 






$






(33)






 






$






—






 






$






(33)








Care and maintenance (23)






 






$






—






 






$






—






 






$






—






 






$






—






 






$






—






 






$






—






 






$






26,029






 






$






26,029








Reclamation cost accretion and amortization






 






$






896






 






$






3,838






 






$






530






 






$






1,843






 






$






—






 






$






7,107






 






$






476






 






$






7,583








General and administrative expense and stock-based compensation expense (24)






 






$






—






 






$






—






 






$






—






 






$






—






 






$






17,066






 






$






17,066






 






$






—






 






$






17,066








Total AISC (non-GAAP)






 






$






85,048






 






$






62,979






 






$






29,692






 






$






38,558






 






$






17,066






 






$






233,344






 






$






29,013






 






$






262,357








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Gold sold (oz)






 






 






40,709






 






 






39,460






 






 






8,650






 






 






—






 






 






—






 






 






88,819






 






 






—






 






 






88,819








Silver sold (oz)






 






 






—






 






 






 






 






 






—






 






2,097,073






 






 






—






 






2,097,073






 






 






—






 






 






2,097,073








Gold equivalent sold (oz) (25)






 






 






40,709






 






 






39,460






 






 






8,650






 






 






27,762






 






 






—






 






 






116,581






 






 






—






 






 






116,581








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of sales per gold ounces sold






 






$






1,825






 






$






1,279






 






$






2,435






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cost of sales per silver ounces sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






20.13






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cost of sales per gold equivalent ounce sold






 






$






1,825






 






$






1,279






 






$






2,435






 






$






1,520






 






 






N/A






 






$






1,613






 






 






N/A






 






$






1,613








Cash cost per gold ounce sold






 






$






1,825






 






$






1,278






 






$






2,435






 






 






N/A






 






 






N/A






 






 






N/A






 






 






—






 






 






N/A








Cash cost per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






15.21






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cash cost per gold equivalent ounce sold






 






$






1,825






 






$






1,278






 






$






2,435






 






$






1,149






 






 






N/A






 






$






1,524






 






 






—






 






$






1,524








AISC per gold ounce sold






 






$






2,089






 






$






1,596






 






$






3,433






 






 






N/A






 






 






N/A






 






 






N/A






 






 






—






 






 






N/A








AISC per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






18.39






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








AISC per gold equivalent ounce sold






 






$






2,089






 






$






1,596






 






$






3,433






 






$






1,389






 






 






N/A






 






$






2,002






 






 






—






 






$






2,250









 






 






Three Months Ended December 31, 2024








(in thousands, unless otherwise noted)






 






Marigold






 






CC&V






 






Seabee






 






Puna






 






Corporate






 






Total






 






Çöpler






 






Consolidated








Cost of sales (GAAP) (22)






 






$






81,898






 






 






N/A






 






$






21,507






 






$






42,891






 






$






—






 






$






146,296






 






$






6,744






 






$






153,040








By-product credits






 






$






(29)






 






 






N/A






 






$






(13)






 






$






(13,610)






 






$






—






 






$






(13,652)






 






$






(80)






 






$






(13,733)








Treatment and refining charges






 






$






154






 






 






N/A






 






$






43






 






$






1,793






 






$






—






 






$






1,990






 






$






938






 






$






2,927








Cash costs (non-GAAP)






 






$






82,023






 






 






N/A






 






$






21,537






 






$






31,074






 






$






—






 






$






134,634






 






$






7,601






 






$






142,235








Sustaining capital and lease related expenditures






 






$






12,411






 






 






N/A






 






$






7,623






 






$






4,958






 






$






—






 






$






24,992






 






$






3,609






 






$






28,601








Sustaining exploration and evaluation expense






 






$






272






 






 






N/A






 






$






—






 






$






—






 






$






—






 






$






272






 






$






—






 






$






272








Care and maintenance (23)






 






$






—






 






 






N/A






 






$






1,663






 






$






—






 






$






—






 






$






1,663






 






$






19,344






 






$






21,008








Reclamation cost accretion and amortization






 






$






722






 






 






N/A






 






$






1,164






 






$






7,475






 






$






—






 






$






9,361






 






$






493






 






$






9,855








General and administrative expense and stock-based compensation expense (24)






 






$






—






 






 






N/A






 






$






—






 






$






—






 






$






17,558






 






$






17,558






 






$






—






 






$






17,558








Total AISC (non-GAAP)






 






$






95,429






 






 






N/A






 






$






31,987






 






$






43,507






 






$






17,558






 






$






188,480






 






$






31,048






 






$






219,528








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Gold sold (oz)






 






 






58,250






 






 






N/A






 






 






26,350






 






 






—






 






 






—






 






 






84,600






 






 






1,720






 






 






86,320








Silver sold (oz)






 






 






—






 






 






N/A






 






 






—






 






2,708,581






 






 






—






 






2,708,581






 






 






—






 






 






2,708,581








Gold equivalent sold (oz) (25)






 






 






58,250






 






 






N/A






 






 






26,350






 






 






31,900






 






 






—






 






 






116,500






 






 






1,720






 






 






118,220








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of sales per gold ounces sold






 






$






1,406






 






 






N/A






 






$






816






 






 






N/A






 






 






N/A






 






 






N/A






 






 






3,921






 






 






N/A








Cost of sales per silver ounces sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






15.84






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cost of sales per gold equivalent ounce sold






 






$






1,406






 






 






N/A






 






$






816






 






$






1,345






 






 






N/A






 






$






1,256






 






 






3,921






 






$






1,295








Cash cost per gold ounce sold






 






$






1,408






 






 






N/A






 






$






817






 






 






N/A






 






 






N/A






 






 






N/A






 






 






4,419






 






 






N/A








Cash cost per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






11.47






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cash cost per gold equivalent ounce sold






 






$






1,408






 






 






N/A






 






$






817






 






$






974






 






 






N/A






 






$






1,156






 






 






4,419






 






$






1,203








AISC per gold ounce sold






 






$






1,638






 






 






N/A






 






$






1,214






 






 






N/A






 






 






N/A






 






 






N/A






 






 






18,051






 






 






N/A








AISC per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






16.06






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








AISC per gold equivalent ounce sold






 






$






1,638






 






 






N/A






 






$






1,214






 






$






1,364






 






 






N/A






 






$






1,618






 






 






18,051






 






$






1,857









(22)







Excludes depreciation, depletion, and amortization.








(23)







Care and maintenance expense only includes direct costs not associated with environmental reclamation and remediation costs, as depreciation is not included in the calculation of AISC.








(24)







General and administrative expense for the three months ended December 31, 2025 included $3.5 million in share based compensation expense.








(25)







GEOs are calculated using the silver ounces sold multiplied by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.









 






 






Year Ended December 31, 2025








(in thousands, unless otherwise noted)






 






Marigold






 






CC&V (26)






 






Seabee






 






Puna






 






Corporate






 






Total






 






Çöpler






 






Consolidated








Cost of sales (GAAP) (27)






 






$






251,833






 






$






157,397






 






$






82,328






 






$






161,745






 






$






—






 






$






653,303






 






$






—






 






$






653,303








By-product credits






 






$






(172)






 






$






(1,395)






 






$






(72)






 






$






(45,618)






 






$






—






 






$






(47,257)






 






$






—






 






$






(47,257)








Treatment and refining charges






 






$






273






 






$






291






 






$






94






 






$






(2,156)






 






$






—






 






$






(1,498)






 






$






—






 






$






(1,498)








Cash costs (non-GAAP)






 






$






251,934






 






$






156,293






 






$






82,350






 






$






113,971






 






$






—






 






$






604,548






 






$






—






 






$






604,548








Sustaining capital and lease related expenditures






 






$






38,758






 






$






23,023






 






$






35,451






 






$






13,897






 






$






—






 






$






111,129






 






$






9,955






 






$






121,084








Sustaining exploration and evaluation expense






 






$






1,775






 






$






—






 






$






—






 






$






—






 






$






—






 






$






1,775






 






$






—






 






$






1,775








Care and maintenance (28)






 






$






—






 






$






—






 






$






234






 






$






—






 






$






—






 






$






234






 






$






90,748






 






$






90,982








Reclamation cost accretion and amortization






 






$






2,920






 






$






12,792






 






$






2,443






 






$






9,761






 






$






—






 






$






27,916






 






$






1,771






 






$






29,687








General and administrative expense and stock-based compensation expense (29)






 






$






—






 






$






—






 






$






—






 






$






—






 






$






107,823






 






$






107,823






 






$






—






 






$






107,823








Total AISC (non-GAAP)






 






$






295,387






 






$






192,108






 






$






120,478






 






$






137,629






 






$






107,823






 






$






853,425






 






$






102,474






 






$






955,899








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Gold sold (oz)






 






 






154,024






 






 






123,510






 






 






54,000






 






 






—






 






 






—






 






 






331,534






 






 






—






 






 






331,534








Silver sold (oz)






 






 






—






 






 






—






 






 






—






 






9,662,630






 






 






—






 






9,662,630






 






 






—






 






 






9,662,630








Gold equivalent sold (oz) (30)






 






 






154,024






 






 






123,510






 






 






54,000






 






 






112,368






 






 






—






 






 






443,902






 






 






—






 






 






443,902








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of sales per gold ounces sold






 






$






1,635






 






$






1,274






 






$






1,525






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cost of sales per silver ounces sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






16.74






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cost of sales per gold equivalent ounce sold






 






$






1,635






 






$






1,274






 






$






1,525






 






$






1,439






 






 






N/A






 






$






1,472






 






 






N/A






 






$






1,472








Cash cost per gold ounce sold






 






$






1,636






 






$






1,265






 






$






1,525






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cash cost per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






11.79






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cash cost per gold equivalent ounce sold






 






$






1,636






 






$






1,265






 






$






1,525






 






$






1,014






 






 






N/A






 






$






1,362






 






 






N/A






 






$






1,362








AISC per gold ounce sold






 






$






1,918






 






$






1,555






 






$






2,231






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








AISC per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






14.24






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








AISC per gold equivalent ounce sold






 






$






1,918






 






$






1,555






 






$






2,231






 






$






1,225






 






 






N/A






 






$






1,923






 






 






N/A






 






$






2,153









 






 






Year Ended December 31, 2024








(in thousands, unless otherwise noted)






 






Marigold






 






CC&V






 






Seabee






 






Puna






 






Corporate






 






Total






 






Çöpler






 






Consolidated








Cost of sales (GAAP) (27)






 






$






244,312






 






 






N/A






 






$






77,846






 






$






155,659






 






$






—






 






$






477,817






 






$






36,215






 






$






514,032








By-product credits






 






$






(113)






 






 






N/A






 






$






(64)






 






$






(50,271)






 






$






—






 






$






(50,448)






 






$






(425)






 






$






(50,873)








Treatment and refining charges






 






$






420






 






 






N/A






 






$






145






 






$






6,889






 






$






—






 






$






7,454






 






$






1,322






 






$






8,776








Cash costs (non-GAAP)






 






$






244,619






 






 






N/A






 






$






77,927






 






$






112,277






 






$






—






 






$






434,823






 






$






37,112






 






$






471,935








Sustaining capital and lease related expenditures






 






$






37,561






 






 






N/A






 






$






31,808






 






$






16,794






 






$






—






 






$






86,163






 






$






15,977






 






$






102,140








Sustaining exploration and evaluation expense






 






$






1,690






 






 






N/A






 






$






—






 






$






—






 






$






—






 






$






1,690






 






$






—






 






$






1,690








Care and maintenance (28)






 






$






—






 






 






N/A






 






$






9,376






 






$






—






 






$






—






 






$






9,376






 






$






60,813






 






$






70,189








Reclamation cost accretion and amortization






 






$






2,943






 






 






N/A






 






$






3,690






 






$






20,938






 






$






—






 






$






27,571






 






$






1,965






 






$






29,536








General and administrative expense and stock-based compensation expense (29)






 






$






—






 






 






N/A






 






$






—






 






$






—






 






$






62,885






 






$






62,885






 






$






—






 






$






62,885








Total AISC (non-GAAP)






 






$






286,813






 






 






N/A






 






$






122,801






 






$






150,009






 






$






62,885






 






$






622,508






 






$






115,867






 






$






738,375








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Gold sold (oz)






 






 






167,669






 






 






N/A






 






 






81,070






 






 






—






 






 






—






 






 






248,739






 






 






30,382






 






 






279,121








Silver sold (oz)






 






 






—






 






 






N/A






 






 






—






 






9,641,677






 






 






—






 






9,641,677






 






 






—






 






 






9,641,677








Gold equivalent sold (oz) (30)






 






 






167,669






 






 






N/A






 






 






81,070






 






 






114,095






 






 






—






 






 






362,834






 






 






30,382






 






 






393,216








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of sales per gold ounces sold






 






$






1,457






 






 






N/A






 






$






960






 






 






N/A






 






 






N/A






 






 






N/A






 






$






1,192






 






 






N/A








Cost of sales per silver ounces sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






16.14






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cost of sales per gold equivalent ounce sold






 






$






1,457






 






 






N/A






 






$






960






 






$






1,364






 






 






N/A






 






$






1,317






 






$






1,192






 






$






1,307








Cash cost per gold ounce sold






 






$






1,459






 






 






N/A






 






$






961






 






 






N/A






 






 






N/A






 






 






N/A






 






$






1,222






 






 






N/A








Cash cost per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






11.64






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








Cash cost per gold equivalent ounce sold






 






$






1,459






 






 






N/A






 






$






961






 






$






984






 






 






N/A






 






$






1,198






 






$






1,222






 






$






1,200








AISC per gold ounce sold






 






$






1,711






 






 






N/A






 






$






1,515






 






 






N/A






 






 






N/A






 






 






N/A






 






$






3,814






 






 






N/A








AISC per silver ounce sold






 






 






N/A






 






 






N/A






 






 






N/A






 






$






15.56






 






 






N/A






 






 






N/A






 






 






N/A






 






 






N/A








AISC per gold equivalent ounce sold






 






$






1,711






 






 






N/A






 






$






1,515






 






$






1,315






 






 






N/A






 






$






1,716






 






$






3,814






 






$






1,878









(26)







CC&V data presented represents the period from February 28, 2025, the closing date of the CC&V acquisition, to December 31, 2025.








(27)







Excludes depreciation, depletion, and amortization.








(28)







Care and maintenance expense only includes direct costs not associated with environmental reclamation and remediation costs, as depreciation is not included in the calculation of AISC.








(29)







General and administrative expense for the year ended December 31, 2025 included $42.2 million in share based compensation expense.








(30)







GEOs are calculated using the silver ounces sold multiplied by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.







The following tables provide a reconciliation of our projected cost of sales to projected cash costs and projected AISC used in the calculation of full-year projected 2026 cost guidance:




(operating guidance 100% basis) (31)






 






Marigold






 






CC&V






 






Seabee






 






Puna






 






Corporate






 






Total




(Excluding Çöpler)






 






Çöpler






 






Consolidated








Gold Production






koz






 






170 – 200






 






125 – 150






 






60 – 70






 






–






 






–






 






355 – 420






 






–






 






355 – 420








Silver Production






Moz






 






–






 






–






 






–






 






6.25 – 7.00






 






–






 






6.25 – 7.00






 






–






 






6.25 – 7.00








Gold Equivalent Production






koz






 






170 – 200






 






125 – 150






 






60 – 70






 






95 – 115






 






–






 






450 – 535






 






–






 






450 – 535








Gold Sold






koz






 






170 – 200






 






125 – 150






 






60 – 70






 






–






 






–






 






355 – 420






 






–






 






355 – 420








Silver Sold






Moz






 






–






 






–






 






–






 






6.25 – 7.00






 






–






 






6.25 – 7.00






 






–






 






6.25 – 7.00








Gold Equivalent Sold






koz






 






170 – 200






 






125 – 150






 






60 – 70






 






95 – 115






 






–






 






450 – 535






 






–






 






450 – 535








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of Sales (GAAP)






$M






 






292 – 358






 






178 – 224






 






89 – 109






 






141 – 168






 






–






 






700 – 859






 






–






 






700 – 859








By-Product Credits + Treatment & Refining Costs






$M






 






–






 






(1)






 






–






 






(35)






 






–






 






(36)






 






–






 






(36)








Cash Cost (non-GAAP) (32)






$M






 






292 – 358






 






177 – 223






 






89 – 109






 






106 – 133






 






–






 






664 – 823






 






–






 






664 – 823








Sustaining Capital Expenditures (33)






$M






 






108






 






34






 






42






 






18






 






–






 






202






 






–






 






202








Reclamation Cost Accretion & Amortization






$M






 






3






 






15






 






2






 






2






 






–






 






22






 






–






 






22








General & Administrative






$M






 






–






 






–






 






–






 






–






 






65 – 70






 






65 – 70






 






–






 






65 – 70








Share-Based Compensation (34)






$M






 






–






 






–






 






–






 






–






 






50 – 60






 






50 – 60






 






–






 






50 – 60








Care & Maintenance (35)






$M






 






–






 






–






 






–






 






–






 






–






 






–






 






80 – 100






 






80 – 100








All-In Sustaining Cost (non-GAAP) (32)






$M






 






403 – 469






 






226 – 272






 






133 – 153






 






126 – 153






 






115 – 130






 






1,003 – 1,177






 






80 – 100






 






1,083 – 1,277








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of Sales per Ounce (GAAP)






$/oz






 






1,720 – 1,790






 






1,420 – 1,490






 






1,480 – 1,550






 






22.30 – 24.30






 






–






 






1,560 – 1,640






 






–






 






1,560 – 1,640








Cash Cost per Ounce (non-GAAP) (32)






$/oz






 






1,720 – 1,790






 






1,410 – 1,480






 






1,480 – 1,550






 






17.00 – 19.00






 






–






 






1,480 – 1,560






 






–






 






1,480 – 1,560








All-In Sustaining Cost per Ounce (non-GAAP) (32)






$/oz






 






2,320 – 2,390






 






1,780 – 1,850






 






2,170 – 2,240






 






20.00 – 22.00






 






–






 






2,180 – 2,260






 






–






 






2,360 – 2,440









(31)







Amounts presented on 100% basis. Figures may not add due to rounding. In 2026, in an effort to limit the impact of gold and silver price volatility, SSR Mining will fix its gold to silver ratio for the purposes of GEO calculations to 63:1, reflecting the 60-day average trading prices for each metal. See “Assumptions” earlier in the endnotes of this press release for additional information.








(32)







The Company reports non-GAAP financial measures including cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. Cost of sales excludes depreciation, depletion, and amortization. Total AISC includes G&A costs and share-based compensation but excludes any care & maintenance costs incurred at Çöpler. Consolidated AISC reflects the cash component of care & maintenance costs incurred at Çöpler in the event the operation did not restart within 2026.








(33)







Refer to “2026 Capital Guidance” table within the “Full-Year 2026 Guidance” section of this press release for a breakdown of sustaining exploration and evaluation expenditures. Capital expenditures for Çöpler are not included in this guidance.








(34)







Share-based compensation guidance uses a reference price of approximately US$32.50 per share.








(35)







Reflects the cash component of care & maintenance expenses of approximately $20 - $25 million per quarter that are expected to be incurred at Çöpler. At this time the Company is not able to estimate or predict if, when and under what conditions operations will resume.







Non-GAAP Measure - Adjusted Net Income (Loss) Attributable to SSR Mining Shareholders and Adjusted Net Income (Loss) Per Share Attributable to SSR Mining Shareholders


Adjusted attributable net income (loss) and adjusted attributable net income (loss) per share are used by management to measure the Company's underlying operating performance. We believe this measure is also useful for shareholders to assess the Company’s operating performance. The most directly comparable financial measures prepared in accordance with GAAP are net income (loss) attributable to SSR Mining shareholders and net income (loss) per share attributable to SSR Mining shareholders. Adjusted net income (loss) attributable to SSR Mining shareholders is defined as net income (loss) adjusted to exclude the after-tax impact of specific items that are significant, but not reflective of the Company's underlying operations, including the impacts of Çöpler Incident; inflationary impacts on tax balances; transaction, integration; and other non-recurring items.


The following table provides a reconciliation of Net income (loss) attributable to SSR Mining shareholders to adjusted net income (loss) attributable to SSR Mining shareholders:




 






 






Three Months Ended






 






Twelve Months Ended








(in thousands of US dollars, except per share data)






 






December 31,






 






December 31,








 






 






2025






 






2024






 






2025






 






2024








Net income (loss) attributable to SSR Mining shareholders (GAAP)






 






$






181,457






 






$






5,555






 






$






395,754






 






$






(261,277)








Interest saving on 2019 notes, net of tax






 






$






1,250






 






$






—






 






$






4,977






 






$






—








Net income (loss) used in the calculation of diluted net income per share






 






$






182,707






 






$






5,555






 






$






400,731






 






$






(261,277)








 






 






 






 






 






 






 






 






 






 






 






 






 








Weighted-average shares used in the calculation of net income (loss) per share








Basic






 






 






202,994






 






 






202,403






 






 






202,745






 






 






202,258








Diluted






 






 






217,612






 






 






202,877






 






 






217,026






 






 






202,258








 






 






 






 






 






 






 






 






 






 






 






 






 








Net income (loss) per share attributable to SSR Mining shareholders (GAAP)






 






 






 






 






 






 






 






 






 






 






 






 








Basic






 






$






0.89






 






$






0.03






 






$






1.95






 






$






(1.29)








Diluted






 






$






0.84






 






$






0.03






 






$






1.85






 






$






(1.29)








 






 






 






 






 






 






 






 






 






 






 






 






 








Adjustments:






 






 






 






 






 






 






 






 






 






 






 






 








CC&V transaction and integration costs (36)






 






$






3,137






 






$






1,698






 






$






22,177






 






$






1,698








Effects of the Çöpler Incident (37)






 






$






581






 






$






1,013






 






$






55,940






 






$






320,994








Insurance proceeds related to the Çöpler Incident (38)






 






$






—






 






$






—






 






$






(35,527)






 






$






—








Changes in fair value of contingent consideration (39)






 






$






13,261






 






$






—






 






$






13,261






 






$






—








Reclamation costs (40)






 






$






—






 






$






14,310






 






$






—






 






$






14,310








Impairment charges (41)






 






$






—






 






$






—






 






$






—






 






$






369








Changes in fair value of marketable securities






 






$






(2,755)






 






$






(927)






 






$






(9,497)






 






$






(7,676)








Income tax impact related to above adjustments






 






$






(2,634)






 






$






232






 






$






(1,041)






 






$






1,440








Inflationary impacts on tax balances






 






$






(2,582)






 






$






(615)






 






$






(10,599)






 






$






(12,267)








Adjusted net income (loss) attributable to SSR Mining shareholders (Non-GAAP)






 






$






190,465






 






$






21,266






 






$






430,468






 






$






57,591








 






 






 






 






 






 






 






 






 






 






 






 






 








Adjusted net income per share attributable to SSR Mining shareholders (Non-GAAP)








Basic






 






$






0.94






 






$






0.11






 






$






2.12






 






$






0.28








Diluted (42)






 






$






0.88






 






$






0.10






 






$






2.01






 






$






0.28









(36)







For the three months ended December 31, 2025 and 2024, represents transaction and integration costs of $3.1 million and $1.7 million, respectively. For the years ended December 31, 2025 and 2024, represents transaction and integration costs of $22.2 million and $1.7 million, respectively, related to the CC&V transaction.








(37)







For the three months ended December 31, 2025, the effects of the Çöpler Incident represent contingencies and expenses of $0.6 million (presented net of pre-tax attributable non-controlling interest of $0.1 million).








 







For the year ended December 31, 2025, the effects of the Çöpler Incident represent (1) reclamation costs of $7.5 million (presented net of pre-tax attributable non-controlling interest of $1.9 million) and remediation costs of $42.8 million (presented net of pre-tax attributable non-controlling interest of $10.7 million) and (2) contingencies and expenses of $5.6 million (presented net of pre-tax attributable non-controlling interest of $1.4 million).








 







For the year ended December 31, 2024, the effects of the Çöpler Incident represent (1) reclamation costs of $9.0 million (presented net of pre-tax attributable non-controlling interest of $2.2 million) and remediation costs of $209.4 million (presented net of pre-tax attributable non-controlling interest of $52.4 million); (2) impairment charges of $91.4 million related to plans to permanently close the heap leach pad (amount is presented net of pre-tax attributable non-controlling interest of $22.8 million); and (3) contingencies and expenses of $11.3 million (amount is presented net of pre-tax attributable non-controlling interest of $2.8 million).








(38)







For the year ended December 31, 2025, represents $35.5 million (presented net of pre-tax attributable non-controlling interest of $8.9 million) of business interruption insurance proceeds received associated with the Çöpler Incident.








(39)







Represents non-cash gains or losses recognized in earnings from the remeasurement of acquisition-related contingent consideration. The adjustment reflects a change in the expected timing of settlement associated with the Carlton Tunnel permit modification related to CC&V. For more information, see the Company’s Annual Report, Note 23 to the consolidated financial statements.








(40)







Represents revisions in cost estimate assumptions associated with water management and tailings storage facilities at Puna that have no substantive future economic value.








(41)







For the year ended December 31, 2024, impairment of long lived and other assets are related to remote equipment damaged due to forest fires near Seabee.








(42)







Adjusted net income (loss) per diluted share attributable to SSR Mining shareholders is calculated using diluted common shares, which are calculated in accordance with GAAP. For the year ended December 31, 2024, $5.0 million interest saving on 2019 Notes, net of tax, and potentially dilutive shares of approximately 12.9 million were excluded from the computation of diluted loss per common share attributable to SSR Mining shareholders in the Consolidated Statement of Operations as they were antidilutive. 0.3 million shares were included in the computation of adjusted net income (loss) per diluted share attributable to SSR Mining shareholders for the year ended December 31, 2024.







Non-GAAP Measure - Free Cash Flow, Cash Flow From Operating Activities Before Changes in Working Capital, Free Cash Flow Before Changes in Working Capital, and Mine Site Free Cash Flow


The Company uses free cash flow and mine site free cash flow to supplement information in its condensed consolidated financial statements. The most directly comparable financial measure prepared in accordance with GAAP to free cash flow is cash provided by operating activities and the most directly comparable financial measure prepared in accordance with GAAP to mine site free cash flow is mine segment revenue. The Company believes that in addition to conventional measures prepared in accordance with US GAAP, certain investors and analysts use this information to evaluate the ability of the Company to generate cash flow after capital investments and build the Company's cash resources and, with respect to one of mine segments, to evaluate the cash generated from a mine. The Company calculates free cash flow by deducting cash capital spending from cash generated by operating activities. The Company does not deduct payments made for business acquisitions. The Company calculates mine site free cash flow by deducting cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes from revenue from a particular segment.


The following table provides a reconciliation of cash provided by operating activities to free cash flow:




 






 






Three Months Ended






 






Twelve Months Ended








(in thousands of US dollars, except per share data)






 






December 31,






 






December 31








 






 






2025






 






2024






 






2025






 






2024








Cash provided by operating activities (GAAP)






 






$






172,051






 






$






94,979






 






$






471,853






 






$






40,130








Expenditures on mineral properties, plant, and equipment






 






$






(65,685)






 






$






(38,573)






 






$






(230,204)






 






$






(143,534)








Free cash flow (non-GAAP)






 






$






106,366






 






$






56,406






 






$






241,649






 






$






(103,404)







We also present operating cash flow before working capital adjustments and free cash flow before working capital adjustments as non-GAAP cash flow measures to supplement our operating cash flow and free cash flow (non-GAAP) measures. We believe presenting both operating cash flow and free cash flow before working capital adjustments, which reflects an exclusion of net changes in operating assets and liabilities, will be useful for investors because it presents cash flow that is actually generated from the continuing business. The Company calculates cash generated by (used in) operating activities before changes in working capital by adjusting cash generated by (used in) operating activities by the net change in operating assets and liabilities. The Company also calculates free cash flow before changes in working capital by deducting cash capital spending from cash flow from operating activities before changes in working capital.


The following table provides a reconciliation of cash provided by operating activities to cash generated by (used in) operating activities before changes in working capital, and free cash flow before changes in working capital:




 






 






Three Months Ended






 






Twelve Months Ended








(in thousands of US dollars, except per share data)






 






December 31,






 






December 31








 






 






2025






 






2024






 






2025






 






2024








Cash provided by operating activities (GAAP)






 






$






172,051






 






$






94,979






 






$






471,853






 






$






40,130








Net change in operating assets and liabilities






 






$






39,440






 






$






(5,356)






 






$






172,658






 






$






72,265








Cash provided by operating activities before changes in working capital (non-GAAP)






 






$






211,491






 






$






89,623






 






$






644,511






 






$






112,395








Expenditures on mineral properties, plant, and equipment






 






$






(65,685)






 






$






(38,573)






 






$






(230,204)






 






$






(143,534)








Free cash flow before changes in working capital (non-GAAP)






 






$






145,806






 






$






51,050






 






$






414,307






 






$






(31,139)







We also present operating mine site free cash flow as non-GAAP measure to supplement our operating cash flow and free cash flow (non-GAAP) measures. The Company calculates mine site free cash flow as revenue less cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes. We believe presenting asset level revenue minus large cash expenditures will be useful for investors because it represents a view of how much cash is actually generated and spent that is directly attributable to a specific site.


The following table provides a calculation of realized cash for CC&V from February 28, 2025, the closing date of the CC&V acquisition, to December 31, 2025 and for Puna the year ended December 31, 2025:




(in millions of US dollars, except per share data)






 






CC&V






 






Puna








Revenue (GAAP)






 






$






450






 






$






459








Cost of sales






 






$






(157)






 






$






(162)








Exploration & reclamation






 






$






(14)






 






$






(14)








Capital expenditures






 






$






(41)






 






$






(14)








Mine site free cash flow before taxes (non-GAAP)






 






$






238






 






$






270








Taxes






 






$






(33)






 






$






(9)








Mine site free cash flow (non-GAAP)






 






$






205






 






$






261







Qualified Persons


The scientific and technical information concerning our mineral projects in this news release have been reviewed and verified by a “qualified person” under subpart 1 of Regulation S-K 1300 (“S-K 1300”). For a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources included in this news release, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for each of the Company’s material properties, which are available as exhibits to the Company’s Annual Report, which is available on EDGAR at www.sec.gov.


Cautionary Note to U.S. Investors


This news release includes terms that comply with reporting standards in Canada under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), including the terms “Mineral Reserves” and “Mineral Resources”. 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. The standards of NI 43-101 differ significantly from the requirements of the SEC. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made in accordance with U.S. standards.


Supplemental Mineral Reserve and Mineral Resource Information


The following table provides a reconciliation of MRMR between December 31, 2025 and December 31, 2024. The Company believes this information provides investors and analysts with useful information associated with changes in Mineral Reserves and Mineral Resources as compared to the prior year period. This information is meant to supplement information available in Item 2. Properties in the Company’s Annual Report.




Mineral Reserves and Mineral Resources Reconciliation (43)






 






Gold






 






Silver






 






Lead






 






Zinc






 






Copper






 






GEO (44)








 






 






koz






 






koz






 






Mlb






 






Mlb






 






Mlb






 






koz








Total P+P Reserves as of December 31, 2024






 






7,567






 






25,640






 






111






 






17






 






–






 






7,970








Depletion due to mining






 






(275)






 






(8,517)






 






(1)






 






–






 






–






 






(378)








Drill additions






 






280






 






–






 






–






 






–






 






–






 






280








Model changes






 






169






 






7,048






 






–






 






–






 






–






 






230








Addition of CC&V






 






2,651






 






–






 






–






 






–






 






–






 






2,651








Addition of Hod Maden






 






190






 






–






 






–






 






–






 






22






 






236








Total P+P Reserves as of December 31, 2025






 






10,582






 






24,171






 






110






 






17






 






22






 






10,989








 






 






 






 






 






 






 






 






 






 






 






 






 








Total M&I Resources as of December 31, 2024 (45)






 






4,398






 






46,354






 






70






 






341






 






–






 






5,242








Resource to Reserve conversions






 






(333)






 






(7,048)






 






–






 






–






 






–






 






(414)








Model changes






 






30






 






(6,608)






 






(30)






 






(75)






 






–






 






(165)








Addition of CC&V






 






4,806






 






–






 






–






 






–






 






–






 






4,806








Addition of Hod Maden






 






66






 






–






 






–






 






–






 






7






 






79








Total M&I Resources as of December 31, 2025






 






8,967






 






32,698






 






40






 






266






 






7






 






9,548








 






 






 






 






 






 






 






 






 






 






 






 






 








Total Inferred Resources as of December 31, 2024






 






2,264






 






16,689






 






2






 






212






 






–






 






2,614








Drill additions






 






100






 






120






 






–






 






150






 






–






 






199








Model changes






 






100






 






15,463






 






(2)






 






26






 






–






 






276








Addition of CC&V






 






1,963






 






–






 






–






 






–






 






–






 






1,963








Addition of Hod Maden






 






28






 






–






 






–






 






–






 






3






 






33








Total Inferred Resources as of December 31, 2025






 






4,456






 






32,272






 






–






 






388






 






3






 






5,085









(43)







Refer to Item 2. Properties in the Company’s Annual Report for asset level detailed summary by asset. MRMR are shown as attributable to SSR Mining only. As of December 31, 2025, SSR Mining owns 80% of the Çöpler district and 10% of Hod Maden. All other properties are 100% owned by SSR Mining.








(44)







All gold equivalent ounces (GEO) figures are based on the corporate commodity prices listed in the “Assumptions” section in this press release. Metal equivalence is calculated for the respective and applicable metals as follows: GEO = Au oz + ((Ag oz * Ag price) + (Pb lb * Pb price per pound) + (Zn lb * Zn price per pound) + (Cu lb * Cu price per pound)) / (Au price per ounce).








(45)







Measured and indicated Mineral Resources are shown exclusive of Mineral Reserves.







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260216715575/en/
E-Mail: invest@ssrmining.com

Phone: +1 (888) 338-0046


Original: SSR Mining Reports Full-Year 2025 Results and 2026 Operating Guidance