SSR Mining Announces Positive Exploration Results at Copper Hill

DENVER--(BUSINESS WIRE)--Jun 20, 2023--

SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) ("SSR Mining" or the “Company") is pleased to announce results from 42 diamond drill holes completed at the Copper Hill property (“Copper Hill” or “the Property”), for the period from June, 2022 to October, 2022. Copper Hill is located approximately 30 kilometers southwest of the town of Kürtün in the Black Sea region of northeast Türkiye, and is approximately 260 kilometers from SSR Mining’s Hod Maden project (see Figure 1 ). Exploration at Copper Hill to date has focused on defining the initial footprint of copper mineralization through diamond drilling. Reflecting the Property’s growth potential, SSR Mining increased its ownership in the Copper Hill joint venture to 70% at the end of 2021.

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Figure 1. Location of the Copper Hill prospect and SSR Mining’s overall Kazıkbeli district exploration leases. (Graphic: Business Wire)

At present, copper mineralization has been defined along nearly one kilometer of strike to a depth of approximately 250 meters below surface ( see Figure 2 ). Currently, the mineralization exhibits low levels of other metals (less than 0.03% lead and zinc) and arsenic (averaging below 8ppm), suggesting potential for a clean copper concentrate attractive to smelting companies. Results to date also showcase mineralization starting from surface over broad intercepts that suggest potential for an open pit operation in the future. Exploration activity is planned to restart in September, 2023, targeting potential extensions of the currently defined mineralization as well as identifying and testing new targets on the property.

Copper Hill drilling highlights include ( see Figures 2 through 5 and Table 1 ):

• CH002: 1.1% Cu over 37.0 meters from surface
• CH012: 1.4% Cu over 139.7 meters from 134.4 meters
  • Including: 1.6% Cu over 33.9 meters from 204.2 meters and 3.5% Cu over 21.3 meters from 246.4 meters
• CH020: 2.2% Cu over 31.9 meters from 282.5 meters
• CH038: 1.4% Cu over 44.7 meters from 7.6 meters
  • Including: 2.4% Cu over 18.6 meters from 22.0 meters

Table 1: Significant copper intercepts from 2022 drilling at Copper Hill

Significant intervals are reported at a nominal 0.2% copper cut-off and with a maximum 5 meters of contiguous dilution. All thicknesses are down hole length, and true widths are not known at this stage.
See Table 2 for additional details on the intercepts listed in this table.

Overview of the Copper Hill Property

Copper Hill is 70% owned and operated by SSR Mining and 30% owned by joint venture partner Lidya Mines (the “Joint Venture”). Copper Hill sits within a package of exploration leases known as Kazıkbeli and all leases are unencumbered by any existing royalties.

The Lidya Mines exploration team discovered Copper Hill and undertook the preliminary exploration activities on behalf of the Joint Venture. Exploration activities were initiated in 2009, consisting of surface sampling (rock and soil sampling) and ground magnetics. In April 2020, results were released for the initial eight diamond drill holes, totaling 3,181 meters, completed on the Property. To date, 77 diamond drill holes, totaling 24,600 meters, have been completed. The northwest-southeast trending mineralized zone has been identified over a strike length of more than 900 meters with a minimum width of 300 meters and starting at surface to a currently defined depth extent of at least 250 meters.

In addition to forthcoming drilling plans, the exploration team is planning geophysical surveys at Copper Hill for the 2023 field season, which aims to advance the continued definition of the potential overall extent of mineralization at the Property. SSR Mining is also planning additional regional exploration activity to identify and test copper skarn and porphyry targets across the greater Kazıkbeli land package.

Overview of Mineralization Style

Copper Hill is a skarn-type copper prospect associated with a late Cretaceous volcano-plutonic complex consisting of a volcano-sedimentary sequence intruded by three intrusive phases. The intrusive phases include an east-west trending elongate granite porphyry at the center of the current project area, along with a granodiorite to the south and a feldspar porphyry to the southwest and northeast. Calcic exoskarn mineralization is west-northwest to east-southeast trending and currently defined over a strike length of more than 900 meters, a width of 300 meters and to a depth of at least 250 meters. The skarn mineralization resulted from the emplacement of a quartz feldspar porphyry into the volcano-sedimentary sequence and decreases in thickness away from the intrusive contact. Copper mineralization is almost entirely sulfide, with oxide zones typically very narrow and constrained close to surface or immediately adjacent to significant faults. Four sets of high angle faults are found within the target area, generated during a major compression post-dating the skarns and copper mineralization at Copper Hill.

Currently, the mineralization at Copper Hill is considered “clean” as it exhibits low levels of other metals (less than 0.03% lead and zinc) and arsenic (averaging below 8ppm), suggesting potential for a clean copper concentrate attractive to smelting companies. This is atypical for skarn-type deposits and should bode well for future economic studies on the Property.

Technical Procedural Information Sampling and Analytical Procedures

The diamond drill cores were sampled as half core at 1.0 meter intervals as an average or with variable core length not smaller than 0.6 meters depending on the alterations and geological contacts. One half was sent to the assay lab and the other half was retained as witness core. The samples were submitted to ALS Global laboratories in Izmir, Türkiye for sample preparation and analysis which is an ISO/IEC 7025:2005 certified and accredited laboratory. Bureau Veritas (Acme) laboratory, in Ankara, Türkiye was used for umpire check sample analysis. The samples were analyzed for a full element suite Four Acid Digestion with ICP-AES Finish; ME-ICP61 (33 element four acid-ICP-AES). For copper assays greater than or equal to 10%, aqua regia digestion with Four Acid Overlimit Method was used; ME-OG62 (Ore Grade Elements - Four Acid- ICP-AES).

The total batch of 16,141 samples include 5.64% certified reference materials (“CRMs”), 5.12% blank and 9.66% duplicates for a quality control insertion rate of not less than 20.43% of the total samples. SSR Mining conducts routine QA/QC analysis on all assay results, including the systematic insertion of CRMs, blanks, field duplicates, and umpire laboratory check assays. The certified reference materials were commercial standards from the Ore Research Ltd. There were no adverse material results detected and the QA/QC indicates the information collected is acceptable, and the database can be used for further studies.

SSR Mining's drill and geochemical samples were collected in accordance with accepted industry standards. SSR Mining conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates and umpire laboratory check assays.

External review of data and processes relating to the prospect was completed by independent Consultant Dr. Erdem Yetkin, P.Geo. in December 2022.

Qualified Persons

The exploration results disclosed in this document were prepared under the supervision of and approved by Rex Brommecker, P.Geo and Registered Member of the Professional Geoscientists of Ontario and Senior Vice President, Exploration at SSR Mining. Rex Brommecker has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and is a qualified person for purposes of Subpart 1300 of Regulation S-K ("S-K 1300”) and National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”).

External review of data and processes relating to the Copper Hill was completed in December 2022 by independent consultant Dr. Erdem Yetkin, P.Geo. a qualified person as defined by SK-1300 and NI 43-101. There were no adverse material results detected and Dr. Yetkin is of the opinion that the QA/QC indicates the information collected is acceptable, and the database can be used for announcing the exploration results.

About SSR Mining

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

Cautionary Note Regarding Forward-Looking Information

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 the COVID-19 pandemic, including the duration, severity and scope of the pandemic and potential impacts on mining operations; 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: preliminary exploration and extent of potential mineralization in this document; production, operating, cost, and capital expenditure guidance; our operational and development targets and catalysts; forecasts and outlook, including related to production guidance and exploration activities; the results of any gold reconciliations; the ability to discover additional copper ore; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; negotiations of joint ventures; 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; 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 inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of joint ventures; 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; 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 atwww.ssrmining.com, on SEDAR atwww.sedar.com, on EDGAR atwww.sec.govand on the ASX atwww.asx.com.auand 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.

Qualified Persons

The scientific and technical information concerning our mineral projects in this news release have been reviewed and approved by a “qualified person” under S-K 1300. For details on the “qualified persons” approving such information, a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources for SSR Mining Inc.’s material properties 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 atwww.sec.gov.

Table 2: All drill holes completed at Copper Hill between June 2022 and November 2022.

Significant intervals reported at a nominal 0.2% copper cut-off and with a maximum 5 meters of contiguous dilution are given in Table 2. All thicknesses are down hole length and true thicknesses are not known at this stage. NSI – No Significant Intercepts.
(1) Including 30cm of isolated geotechnical sample.
(2) Including 60cm of isolated geotechnical sample.
(3) Including 90cm of isolated geotechnical sample.
(4) Including 30cm of isolated geotechnical sample, 4.90m core loss.

Supporting Drilling Information to SSR Mining Announcement

This document provides supporting drill collar locations and composite assay results for the Copper Hill drilling program referenced in the announcement “SSR Mining Announces Positive Exploration Results at Copper Hill”, June 20, 2023.

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

Table 3: Drill Collar Coordinates

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CONTACT: SSR Mining Contacts:

F. Edward Farid, Executive Vice President, Chief Corporate Development Officer

Alex Hunchak, Director, Corporate Development and Investor RelationsSSR Mining Inc.

E-Mail:invest@ssrmining.com

Phone: +1 (888) 338-0046To receive SSR Mining’s news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.

KEYWORD: COLORADO NORTH AMERICA UNITED STATES AUSTRALIA AUSTRALIA/OCEANIA CANADA

INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES

SOURCE: SSR Mining Inc.

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PUB: 06/20/2023 06:00 AM/DISC: 06/20/2023 05:58 AM

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