All amounts are expressed in US dollars unless otherwise indicated.
Vancouver, Canada, August 13, 2024 – Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS; NYSE-A: ARMN)
announces its full financial and operating results for the three and six months ended June 30, 2024 (Q2 2024 and H1 2024,
respectively). Aris Mining previously reported H1 2024 gold production of 99,983 ounces and reaffirmed the Company is on track
to meet the lower end of its 2024 consolidated gold production guidance of 220,000 to 240,000 ounces with the processing
plant expansion at the Segovia Operations and construction of the Marmato Lower Mine progressing as planned.
Q2 2024 Q1 2024 H1 2024
Gold production (ounces) (Segovia & Marmato) 49,216 50,768 99,983
EBITDA1 $30.8M $22.4M $53.2M
Adjusted EBITDA1 $36.1M $28.4M $64.5M
Net earnings (loss) $5.7M or $0.04/share $(0.7)M or $(0.01)/share $5.0M or $0.03/share
Adjusted earnings1 $12.7M or $0.08/share $5.4M or $0.04/share $18.1M or $0.12/share
Neil Woodyer, CEO of Aris Mining, commented: “Amid favorable gold prices, Aris Mining reported EBITDA of $53.2 million for
the first half of 2024, with adjusted earnings per share reaching $0.12. During this period, the Company invested $70 million in
growth projects, including $7.5 million allocated to exploration programs. As highlighted in our recent news release, our drilling
program at Segovia continues to deliver high grade intersections, confirming the continuity and extension of the large-scale veins
at depth and along strike, and supporting Segovia’s status as one of the highest grade gold operations in the world.
In H1 2024, we processed relatively lower grade material at Segovia, averaging 9.3 g/t Au, and experienced an unplanned sevenday plant maintenance shutdown in April. However, since May, the Segovia plant has been operating at its design capacity of
2,000 tonnes per day (tpd) and is on track for expansion to 3,000 tpd by early 2025 to support future production growth. Despite
these operational challenges in H1 2024, Aris Mining remains on track to meet the lower end of its full-year gold production
guidance of 220,000 to 240,000 ounces.
Segovia generated a significant AISC1 margin of $60.6 million for H1 2024, including $7.2 million from the third-party Contract
Mining Partners (CMP) mill-feed purchase business. The business model for our CMPs, with mill-feed purchases based on the
current price of gold, is designed to maintain relatively stable margins while we grow gold production and strengthen our
community relationships. We are updating our cash cost per ounce guidance range to $1,125 to $1,225 and AISC guidance range
to $1,400 to $1,500, primarily as a result of the rise in gold prices since our initial guidance was set in January 2024 using a
$2,000 per ounce gold price assumption.
Meanwhile, construction of the Marmato Low

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