ARIS Mining Updates Mineral Reserve S and Resources FOR the Segovia Operations with Full Replacement of 2022 Production
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ARIS MINING UPDATES MINERAL RESERVE S AND RESOURCES FOR THE
SEGOVIA OPERATIONS WITH FULL REPLACEMENT OF 2022 PRODUCTION
Vancouver, Canada, March 3, 2023 – Aris Mining Corporation (“Aris Mining” or the “Company) (TSX: ARIS;
OTCQX: TPRFF) announces updated mineral resource and reserve estimates for the Segovia Operations in
Colombia, effective December 31, 2022 (the “2022 MRE”). The 2022 MRE includes full replacement of gold
ounces mined during 2022.
Highlights of the Segovia Operations 2022 MRE include:
• Proven and probable mineral reserves of 755.2 thousand ounces (koz) of gold (Au) from 2.4 million
tonnes (Mt) at 9.95 grams per tonne ( g/t) Au. This compares to 744.7 koz from 2.3 Mt at 10.1 g/t
Au as of December 31, 2021
• Measured and indicated mineral resources of 1.7 million ounces of gold (Moz) from 5.0 Mt at
10.60 g/t Au
• Inferred mineral resources of 1.6 Moz of gold from 5.3 Mt at 9.44 g/t Au
• Extended growth history of mineral resources, net of depletion, since 2010 (see Figure 1)
Neil Woodyer, CEO of Aris Mining, commented “ Segovia is a high -grade gold operation that has been
producing gold for more than 150 years. Following the 2022 in-mine and near-mine drilling campaign, we
are pleased to report another year of replacing mined ounces with new reserves and resources. For 2023,
we have planned an exploration drilling program of 84,500 metres at Segovia focussed on increasing the
mineral reserves and life of mine plan , extending the known resources at the four producing mines, a nd
further exploring strategic high priority vein targets located adjacent to the current mining operations.”
Figure 1: Growth of Segovia Operations mineral resources, net production depletion
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Tables 1 and 2 include the full breakdown of the 2022 MRE.
Table 1: Segovia Operations Mineral Reserves effective December 31, 2022
Classification Deposit Tonnes (kt) Grade Au (g/t) Contained Au (koz)
Proven
Providencia 204.1 11.22 73.6
Sandra K 25.2 8.46 6.8
Total Proven 229.3 10.92 80.5
Probable
Providencia 198.9 8.11 51.8
Sandra K 462.2 7.42 110.3
El Silencio 1,369.3 11.01 484.6
Carla 101.3 8.57 27.9
Total Probable 2,131.7 9.84 674.7
Proven + Probable Total 2,361.0 9.95 755.2
Notes:
1. The mineral reserve estimate was prepared under the supervision of, or was reviewed by, Pamela De Mark, P.Geo, Senior Vice Pr esident Technical
Services of Aris Mining, who is a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).
2. Totals may not add up due to rounding.
3. Mineral reserves are reported within scheduled mine designs using a cut -off grade of between 2.86 and 3.44 g/t Au depending on deposit, based
on a gold price of US$1,7000 per ounce, metallurgical recovery of 94%, and costs of between US$147 and US$177 per tonne depending on deposit,
including consideration for concentrate credits.
4. There are no known legal, political, environmental, or other risks that could materially affect the mineral reserves.
Table 2: Segovia Operations Mineral Resources effective December 31, 2022
Classification Deposit Tonnes (kt) Grade Au (g/t) Contained Au (koz)
Measured
Providencia 369 15.71 187
Sandra K 35 11.96 14
Total Measured 405 15.39 200
Indicated
Providencia 398 10.30 132
Sandra K 708 9.67 220
El Silencio 3,292 10.35 1,095
Carla 163 8.07 42
Vera 9 10.22 3
Total Indicated 4,569 10.16 1,492
Measured + Indicated
Providencia 768 12.91 319
Sandra K 743 9.78 234
El Silencio 3,292 10.35 1,095
Carla 163 8.07 42
Vera 9 10.22 3
Total Measured + Indicated 4,974 10.58 1,692
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Classification Deposit Tonnes (kt) Grade Au (g/t) Contained Au (koz)
Inferred
Providencia 756 14.68 357
Sandra K 1,032 12.24 406
El Silencio 2,146 7.65 528
Carla 238 6.25 48
Vera 771 7.10 176
Verticales 118 5.87 22
Cristales 263 9.40 80
Total Inferred 5,325 9.44 1,616
Notes:
1. Mineral resources are inclusive of mineral reserves.
2. Mineral resources are not mineral reserves and have no demonstrated economic viability.
3. The mineral resource estimate was prepared under the supervision of, or was reviewed 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. Ms. De Mark has reviewed and verified the drilling, sampling, assaying,
and QAQC protocols and results, and is of the opinion that the sample recovery, preparation, analyses, and security protocols used for the mineral
reserve estimate and the mineral resource estimate are reliable for that purpose.
4. Totals may not add up due to rounding.
5. Mineral resources are reported using a cut -off grade of 2.65 g/t Au over a 1.0 m mining width, based on a gold price of US$1,850 per ounce,
metallurgical recovery of 94%, and costs of US$148 per tonne, including consideration for concentrate credits.
6. There are no known legal, political, environmental, or other risks that could materially affect the mineral resources.
Qualified Person and Technical Disclosure
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 Canadian com pany led by an executive team with a track record of creating value through
building globally relevant mining companies. 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 202 2. Aris Mining also operates the Soto Norte 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 acquisition and other
growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of small -scale mining as this process enables all miners to operat e
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.sedar.com.
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For further information, contact:
Tyron Breytenbach
Senior Vice President, Capital Markets
t +1.416.399.2739
Cautionary Language
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 results of the 202 2 MRE and the nature of such results, the 2023
exploration program and the details and timing thereof, and the Company’s plans and strategies are forward-looking.
Generally, the forward-looking information and forward looking statements can be id entified 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 variati ons
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". Statements concerning mineral reserve estimates and mineral resource estimates
may also be deemed to constitute forward looking information to the extent that they involve estimates of the
mineralization that will be encountered. The material factors or assumptions used to develop forward looking
information or statements are disclosed throughout this presentation.
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, performance 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: local
environmental and regulatory requirements and delays in obtai ning required environmental and other licenses,
changes in national and local government legislation, taxation, controls, regulations and political or economic
developments, uncertainties and hazards associated with gold exploration, development and mining, risks associated
with tailings management, risks associated with operating in foreign jurisdictions, risks associated with capital cost
estimates, dependence of operations on infrastructure, costs associated with the decommissioning of the Company’s
properties, fluctuations in foreign exchange or interest rates and stock market volatility, operational and technical
problems, the ability to maintain good relations with employees and labour unions, competition; reliance on key
personnel, litigation risks, u ncertainties relating to title to property and mineral resource and mineral reserve
estimates, risks associated with acquisitions and integration, risks associated with the Company’s ability to meet its
financial obligations as they fall due, volatility in the price of gold, or certain other commodities, risks that actual
production may be less than estimated, risks associated with servicing indebtedness, additional funding requirements,
risks associated with general economic factors, risks associated with secured debt, changes in the accessibility and
availability of insurance for mining operations and property, environmental, sustainability and governance practices
and performance, risks associated with climate change, risks associated with the reliance on experts outside of
Canada, , pandemics, epidemics and public health crises, potential conflicts of interest, uncertainties relating to the
enforcement of civil labilities outside of Canada, cyber -security risks, risks associated with operating a joint ven ture,
volatility of the share price, the ability to pay dividends in the future, as well as those factors discussed in the section
entitled "Risk Factors" in Aris Mining's most recent AIF available on SEDAR at www.sedar.com.
Although Aris Mining has attemp ted 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
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in such information or statements. The Company has and continues to disclo se 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 the 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 revisions 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.