SSR Mining Announces the Sale of Its San Luis Project for Total Consideration of up to US$42.5 Million and a 4% NSR Royalty

SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) (“SSR Mining” or the “Company”) announced today that it has entered into a definitive agreement to sell its San Luis Project (“San Luis” or the “Project”) to Highlander Silver Corp. (CSE:HSLV) (“Highlander Silver”) in exchange for total consideration of up to US$42.5 million (the “Transaction”).

Total consideration consists of US$5.0 million in upfront cash and up to US$37.5 million in contingent payments payable in cash. Pursuant to the terms of the agreement, SSR Mining will retain a 4% net smelter returns (“NSR”) royalty on the Project, which will be granted prior to the closing of the Transaction.

The upfront cash component of the consideration will be paid upon closing of the Transaction and the contingent payments are expected to be received in five installments beginning with the commencement of an initial drilling program at the Project and ending on the second anniversary of commercial production from the Project. Under the terms of the agreement, at any time until commencement of construction, half of the NSR royalty can be repurchased by Highlander Silver for US$15 million in cash.

Closing of the Transaction is expected to occur in the first quarter of 2024, and is subject to the receipt of any required regulatory approvals and certain customary closing conditions for transactions of this nature.

The Transaction is expected to be accretive to SSR Mining on a NAV per share basis, based on street consensus estimates. With this transaction, SSR Mining continues to deliver on its goal of portfolio rationalization, realizing more than US$300 million in aggregate consideration for non-core assets since the start of 2021.

San Luis is a greenfield gold and silver development project located in the Ancash Department of Central Peru.

About Highlander Silver

Highlander Silver Corp., backed by the Augusta Group and the Lundin Family, is a mineral exploration company focused on the discovery of exceptional silver-gold-polymetallic projects in the Central Andes, leveraging the team’s significant technical and operational experience in Peru and South America more widely. Currently the Company is developing the La Estrella and Alta Victoria projects in central Peru. The Company is listed on the CSE under the ticker symbol HSLV and additional information about Highlander Silver and its mineral projects can be viewed on the Company’s SEDAR profile at and its website at

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.

Forward-looking information and statements in this news release include any statements concerning, among other things: forecasts and outlook relating to closing of the Transaction, timing and realized value of the development of the San Luis property, including timing of exploration, construction and production, the existence or realization of Mineral Resource estimates, value and timing of compensation relating to the contingent payment, value and timing of compensation relating to the NSR royalty; potential timing of repurchase of part of the NSR royalty; 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.

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, on SEDAR at, on EDGAR at and on the ASX at 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.


SSR Mining Contacts:

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

Alex Hunchak, Director, Corporate Development and Investor Relations

SSR Mining Inc.


Phone: +1 (888) 338-0046

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