VANCOUVER, BC, Sept. 11,
2023 /PRNewswire/ - Aris Mining Corporation (Aris
Mining or the Company) (TSX: ARIS) (OTCQX: TPRFF) announces record
gold production of 19,406 ounces at its Segovia
Operations in Colombia during
August 2023, the highest monthly
production since the expansion of the Maria Dama processing plant
in 2022. This is a result of our efforts in optimization and
improvement and represents a 24% increase over the average gold
production rate for the initial seven months of 2023.
Neil Woodyer, CEO of Aris Mining,
commented "Aris Mining has successfully implemented a significant
business re-organization in Colombia and we are very pleased to
demonstrate the benefits of this work. As noted in our
August 16, 2023 news release, the ongoing 2023
exploration program at our Segovia Operations has encountered 32
different mineralized vein structures near active mining
operations, which is expected to continue Segovia's history of
growth and reserve replacement. Aris Mining has a strong balance
sheet and we believe we are on track to produce approximately
400,000 ounces of gold in Colombia in 2026, based on steady-state
production from our Segovia Operations and the expanded Marmato
Mine, currently under construction."
During August 2023, the Maria Dama
gold plant at the Segovia Operations processed 55,328 tonnes with
an average gold grade of 11.7 grams per tonne and
achieved a gold recovery rate of 95.5%. These results represent a
9% increase in the amount of ore milled and a 17% increase in gold
grade compared to the average performance over the prior seven
months, and is primarily attributed to the completion of the
crusher repairs, the resolution of issues related to the nationwide
limited supply of explosives, and access to higher grade stopes. In
addition, the Company processed an average of 96 tonnes per day at
its polymetallic plant, which resulted in the production of
approximately 148 tonnes of zinc concentrate and
103 tonnes of lead concentrate. The polymetallic
plant was built in 2021 to clean sulfides from the tailings, a
process that recovers zinc, lead, gold and silver in concentrates
from the tailings while also providing an additional revenue
stream.
Technical Disclosure and Qualified
Person
The technical information in this news release was reviewed and
approved by Pamela De Mark, P.Geo,
Senior Vice President, Technical Services of Aris Mining, who is a
Qualified Person as defined by NI 43-101.
About Aris Mining
Aris Mining is a gold producer in the Americas with a
growth-oriented strategy. In Colombia, Aris Mining operates
several high-grade underground mines at its Segovia Operations and
the Marmato Mine, which together produced
235,000 ounces of gold in 2022. Aris Mining is
currently advancing the Marmato Lower Mine Expansion project, which
will provide access to wider porphyry mineralization below the
current Upper Mine. Aris Mining also operates the Soto Norte
Project joint venture, where environmental licensing is advancing
to develop a new underground gold, silver and copper mine. In
Guyana, Aris Mining is advancing
the Toroparu Project, a gold/copper project. Aris Mining plans to
pursue acquisitions and other growth opportunities to unlock value
creation from scale and diversification.
Aris Mining promotes the formalization of artisanal and
small-scale mining as this process enables all miners to operate in
a legal, safe and responsible manner that protects them and the
environment.
Additional information on Aris Mining can be found at
www.aris-mining.com and www.sedarplus.ca.
Forward-Looking
Information
This news release contains "forward-looking information" or
forward-looking statements" within the meaning of Canadian
securities legislation. All statements included herein, other than
statements of historical fact, including, without limitation,
statements relating to the Company's expectation to continue
Segovia's history of growth and reserve replacement, the
anticipated production in 2026, and the Company's plans and
strategies are forward-looking. When used herein, forward looking
terminology such as "expect", "plan", "anticipate", "estimate",
"may", "will", "should", "intend", "believe", and similar
expressions, are intended to identify forward-looking statements.
Forward-looking statements are based on estimates and assumptions
made by the Company in light of its experience and its perception
of historical trends, current conditions and expected future
developments, as well as other factors that the Company believes
are appropriate in the circumstances. Many factors could cause the
Company's actual results, performance or achievements to differ
materially from those expressed or implied by the forward-looking
statements, including those described in the "Risk Factors"
section of the Company's most recent AIF and in the Management's
Discussion and Analysis for the three and six months ended
June 30, 2023, which are available on the
Company's profile on SEDAR+ at www.sedarplus.ca. These factors
should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company
has no intention and undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Aris Mining Corporation