ARIS Mining Expands High-Grade Segovia Reserve and Resource Estimates
NEWS RELEASE
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ARIS MINING EXPANDS HIGH-GRADE SEGOVIA RESERVE AND RESOURCE ESTIMATES
Vancouver, Canada, January 8, 2026 – Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS; NYSE -A:
ARMN) has updated the Segovia mineral reserve and resource estimates with an effective date of November 28,
2025.
• Measured and indicated mineral resources increased by 7% to 3.6 million ounces of gold (Moz), up from
3.4 Moz in the 2024 estimate, while inferred resources increased by 12% to 2.9 Moz, reflecting continued
exploration success and resource growth at Segovia.
• Proven and probable mineral reserves increased by 12% to 1.5 Moz, up from 1.3 Moz in the 2024 estimate,
reflecting successful conversion of resources to reserves and ongoing mine development at Segovia.
• Segovia’s mineral inventory remains exceptionally high grade, with measured and indicated resources
averaging 15.3 g/t Au and proven and probable reserves averaging 10.7 g/t Au.
Neil Woodyer, CEO of Aris Mining, commented “The updated Segovia reserve and resource estimates underscore
the strength and durability of this exceptional high-grade asset. Compared to our prior estimates in 2024, measured
and indicated resources increased by 7%, inferred resources grew by 12%, and proven and probable reserves
increased by 12% or 160,000 ounces, net of mined depletion, reinforcing Segovia’s long mine life and supporting
higher production rates following the mill expansion . Segovia continues to provide a strong foundation of high -
margin production and long-term value creation for Aris Mining.”
Given the rapid and significant changes in the gold price over the past year, the selection of an appropriate gold
price assumption for mineral resource reporting requires careful judgment. The Company selected a gold price of
$3,200 per ounce for mineral resources and $2,800 per ounce for mineral reserves.
To provide transparency and context, the Company has included a mineral resource sensitivity analysis across a
wide range of gold prices, from $2,100 per ounce, consistent with the gold price used in the 2024 estimate, to the
$3,200 per ounce selected for the 2025 estimate . The sensitivity analysis demonstrates that the Segovia mineral
resource is largely insensitive to gold price assumptions, with measured and indicated contained gold ranging from
3.4 Moz to 3.6 Moz, reflecting the high-grade nature and strong underlying economics of the deposit.
The table below summarizes the sensitivity of the 2025 mineral resource estimate to gold price.
Table 1: Sensitivity of the 2025 mineral resource estimate to gold price
Gold price (US$/oz) 2,100 2,300 2,500 2,800 3,000 3,200
Tonnes
(kt)
Measured 3,274 3,449 3,598 3,811 3,928 4,050
Indicated 2,556 2,711 2,851 3,061 3,188 3,321
Measured and Indicated 5,830 6,160 6,449 6,872 7,117 7,371
Inferred 4,659 4,971 5,264 5,744 6,017 6,289
Grade
(Au g/t)
Measured 17.40 16.73 16.20 15.50 15.14 14.78
Indicated 19.40 18.59 17.91 16.97 16.45 15.94
Measured and Indicated 18.28 17.55 16.96 16.16 15.73 15.30
Inferred 17.59 16.79 16.12 15.11 14.60 14.13
Contained
Gold (koz)
Measured 1,831 1,855 1,874 1,899 1,912 1,925
Indicated 1,595 1,620 1,642 1,670 1,686 1,701
Measured and Indicated 3,426 3,475 3,516 3,570 3,598 3,626
Inferred 2,634 2,684 2,728 2,791 2,825 2,856
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The table below summarizes the 2025 mineral resource estimate (the 2025 MRE), with the 2024 MRE for reference.
Table 2: Segovia mineral resource estimate effective November 28, 20251
Effective date
Measured Indicated Measured & Indicated Inferred
Tonnes
(kt)
Grade
Au
(g/t)
Oz
Au
(koz)
Tonnes
(kt)
Grade
Au
(g/t)
Oz
Au
(koz)
Tonnes
(kt)
Grade
Au
(g/t)
Oz Au
(koz)
Tonnes
(kt)
Grade
Au
(g/t)
Oz
Au
(koz)
28-Nov-2025 4,050 14.78 1,925 3,321 15.94 1,701 7,371 15.30 3,626 6,289 14.13 2,856
31–Jul-20242 3,637 16.03 1,875 2,943 16.07 1,521 6,580 16.05 3,396 5,138 15.38 2,541
• Mineral resources are inclusive of mineral reserves.
• Mineral resources are not mineral reserves and have no demonstrated economic viability.
• There are no known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other
relevant factors that could materially affect the mineral resource estimate.
• Totals may not add due to rounding.
• A gold price of US$3,200 per ounce was used for the 2025 MRE. The 2024 MRE used a gold price of US$2,100 per ounce.
• The 2025 MRE utilized a gold cut-off grade of between 2.04 g/t and 2.95 g/t depending on mineral resource area. The
cut-off grade values were applied to vein grades diluted to a minimum mining width of one vertical metre.
• The 2025 MRE was prepared by Pamela De Mark, P.Geo., Senior Vice President of Geology and Exploration of Aris
Mining, who is a Qualified Person as defined by NI 43-101.
The table below summarizes the 2025 mineral reserve estimate , with the 2024 mineral reserve estimate for
reference.
Table 3: Segovia mineral reserve estimate effective November 28, 20251
Effective date
Proven Probable Proven & Probable
Tonnes
(kt)
Grade Au
(g/t)
Oz Au
(koz)
Tonnes
(kt)
Grade Au
(g/t)
Oz Au
(koz)
Tonnes
(kt)
Grade
Au (g/t)
Oz Au
(koz)
28-Nov-2025 1,708 9.92 545 2,659 11.21 958 4,367 10.70 1,503
31–Jul-20242 1,886 11.25 682 1,989 10.33 660 3,875 10.78 1,343
• There are no known mining, legal, political, metallurgical, infrastructure, permitting, or other relevant factors that
could materially affect the mineral reserve estimate.
• Totals may not add due to rounding.
• A gold price of US$2,800 per ounce was used for the 2025 mineral reserve estimate. The 2024 mineral reserve used a
gold price of US$1,915 per ounce.
• The 2025 mineral reserve estimate utilized a gold cut-off grade of between 2.33 g/t and 3.38 g/t depending on mineral
reserve area. The cut-off grade values were applied to vein grades diluted to a minimum mining width that varies
according to the mining area.
1 See the “Technical Disclosure and Qualified Person” section below.
2 See press release dated October 7, 2024, entitled “Aris Mining Reports Q3 2024 Gold Production, Updates Segovia Reserve
and Resource Estimates and Expansion Milestones”.
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• The 2025 mineral reserve estimate was prepared by Aris Mining technical staff under the supervision of and reviewed
by Miguel Marcelo Roldán, FAusIMM, Technical Services Manager, Segovia Operations, of Aris Mining, who is a
Qualified Person as defined by NI 43-101.
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, Geology and Exploration of Aris Mining, who is a Qualified Person as defined by NI 43-101. Ms. De Mark
has fully verified the sampling , analytical, and test data as well as the geological interpretation underlying the
information or opinions disclosed in this news release by way of analysis of the data and the geological
interpretations while preparing the 2025 MRE and reviewing the 2025 mineral reserve estimate.
The mineral resource and reserve estimates, scientific disclosure, and technical information included in this news
release are based upon information included in the technical report entitled “NI 43 -101 Technical Report for the
Segovia Operations, Antioquia , Colombia” dated December 6, 2023 and effective as of September 30, 2023 and
prepared by Aris Mining. This document is available for review on the Company’s website at www.aris-mining.com
and on the Company’s profile on SEDAR+ at www.sedarplus.ca.
About Aris Mining
Founded in September 2022, Aris Mining was established with a vision to build a leading South America -focused
gold mining company. Our strategy blends current production and cashflow generation with transformational
growth driven by expansions of our opera ting assets, exploration, and development projects. Aris Mining intends
to unlock value through scale and diversification. The Company is listed on the TSX (ARIS) and the NYSE-A (ARMN)
and is led by an experienced team with a track record of value creation, operational excellence, financial discipline
and good corporate governance in the gold mining industry.
Aris Mining operates two underground gold mines in Colombia: the Segovia Operations and the Marmato Complex,
which together produced 210,955 ounces of gold in 202 4. With expansions underway, Aris Mining is targeting an
annual production rate of more than 500,000 ounces of gold, driven by the commissioning of a second mill at
Segovia, completed in June 2025 and ramping up since, and the construction of the Bulk Mining Zone at the
Marmato Complex, with first gold expected in Q4 2026.
In Guyana, Aris Mining owns the Toroparu gold project, where a new Preliminary Economic Assessment has been
completed and a Prefeasibility Study is in progress. Following completion of the PFS, Toroparu will be positioned to
advance toward construction.
Aris Mining also owns the Soto Norte gold project, where a Prefeasibility Study has been completed on a smaller -
scale development plan confirming Soto Norte as a high -grade, long -life project with strong economics and
industry-leading environmental and soc ial design features. Environmental studies are being finalized, which are
scheduled to be submitted in the first half of 2026 to initiate the licensing process.
Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on
www.sec.gov.
Aris Mining Contact
Oliver Dachsel
Senior Vice President, Capital Markets
+1.917.847.0063
Lillian Chow
Director, Investor Relations & Communications
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Cautionary Language
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 Segovia’s mineral reserve and mineral resource estimates, projected gold
prices, and statements included in the “About Aris Mining” section of this news release relating to the Segovia
Operations, Marmato Complex, Soto Norte Project and Toro paru Project are forward -looking. Generally, the
forward-looking information and forward looking statements can be identified by the use of forward looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", " estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such
words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved”. The material factors or assumptions used to develop forward looking information
or statements are disclosed throughout this news release.
Forward looking information and forward looking statements, while based on management's best estimates and
assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performanc e or achievements of Aris Mining to be materially different from those
expressed or implied by such forward-looking information or forward looking statements, including but not limited
to those factors discussed in the section entitled "Risk Factors" in Ar is Mining's annual information form dated
March 12, 2025 which is available on SEDAR+ at www.sedarplus.ca and included as part of the Company’s Annual
report on Form 40-F, filed with the SEC at www.sec.gov.
Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking information and forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information
or statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such information or statements. The Comp any has and continues to disclose in its Management's
Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying
the forward-looking information and forward -looking statements and to the validity of th e information, in the
period the changes occur. The forward -looking statements and forward -looking information are made as of the
date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result
of any revi sions to any of the forward -looking statements or forward -looking information contained herein to
reflect future results. Accordingly, readers should not place undue reliance on forward -looking statements and
information.