Aris Mining: Q3 2024 Gold Production Surge and Expansion Milestones

Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) has reported a significant increase in gold production for the third quarter of 2024, along with updates on its Segovia reserve and resource estimates, and key milestones in its expansion projects. The Company's strong performance and strategic growth plans have positioned it as a leading gold producer in the Americas.

In Q3 2024, Aris Mining achieved a 9% increase in gold production compared to Q2 2024, producing 53,608 ounces of gold. The Segovia mine contributed 47,493 ounces, while the Marmato Upper Mine produced 6,115 ounces. This impressive growth can be attributed to the Company's successful expansion projects and operational efficiency.

The updated Segovia mineral resource and reserve estimates as of July 31, 2024, indicate a growth in resources and full replacement of reserves. This positive development is expected to have a significant impact on future production projections, as the mine's long-term sustainability and profitability are secured.

Aris Mining has made significant progress in its expansion projects, with key milestones achieved in both the Segovia and Marmato mines. The Segovia expansion project is on track for completion in Q1 2025, with the expanded receiving area already commissioned. The Marmato Lower Mine construction is advancing as planned, with 25% of the project's budget already spent.

The Company's strong financial position, with $147 million in cash as of March 31, 2024, supports its growth plans. Aris Mining is targeting an annual production run-rate of approximately 500,000 ounces of gold by the second half of 2026, following the completion of its expansion projects. The Company's ability to fund growth through cash flow from operations and strategic acquisitions further solidifies its position in the gold mining industry.

In conclusion, Aris Mining's Q3 2024 gold production surge, along with updates on its Segovia reserve and resource estimates, and expansion milestones, demonstrate the Company's commitment to growth and sustainability. With a strong financial position and a clear vision for the future, Aris Mining is well-positioned to continue its success in the gold mining sector.