SSR MINING ANNOUNCES POSITIVE EXPLORATION RESULTS AT SEABEE Santoy Highlights Include True Width Intercepts of 29 g/t Au over 2.1 Meters, 31 g/t Au Over 1.9 Meters Porky Main and Porky West Drilling Returns Broad Intercepts of Near Surface Mineralization, Potential for Future Open
News Release
December 12, 2022
SSR MINING ANNOUNCES POSITIVE EXPLORATION RESULTS AT SEABEE
Santoy Highlights Include True Width Intercepts of 29 g/t Au over 2.1 Meters, 31 g/t Au Over 1.9 Meters
Porky Main and Porky West Drilling Returns Broad Intercepts of Near Surface Mineralization, Potential for Future Open
Pit Development
DENVER – SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) (“SSR Mining” or the “Company”) is pleased to
announce results from 377 diamond drill holes completed at the Seabee property in Saskatchewan, Canada, for the
September, 2021 to November, 2022 exploration period (the “Exploration Period”). These results build upon, and
are subsequent to, the Seabee 2021 Technical Report Summary (the “2021 Seabee TRS”), which highlighted a six-
year Mineral Reserve life averaging approximately 96,000 ounces of annual gold production. The life of mine plan in
the 2021 TRS was based on 580,000 ounces of Proven and Probable Mineral Reserves calculated using a cut-off
grade of 2.5 g/t Au and a 1.8 meter minimum mining width.
Activity during the Exploration Period included both near-mine resource development drilling adjacent to current
underground infrastructure at the Santoy Mine Complex (“Santoy”), as well as more regional activity across the
Seabee property (Figure 1). Notably, the regional exploration activity included drilling at the Porky Main and Porky
West targets, with results to-date returning broad intercepts of near-surface mineralization potentially amenable to
open pit mining in the future. Additional regional exploration included the initial delineation of the Shane target,
which remains open along strike and is located adjacent to the Santoy Road that connects the mine to the Seabee
processing facility.
A total of 279 resource development drill holes were completed at Santoy during the Exploration Period. Santoy is
the source of the current production feed for the Seabee processing plant and contributes the entirety of the existing
Seabee Mineral Reserves. Exploration activity at Santoy aims to extend existing mineralization, upgrade Mineral
Resources to Mineral Reserves, and provide greater confidence in currently defined Mineral Reserves for future
mine planning purposes. Drilling focused on areas immediately adjacent to current mine development, with the
positive results indicting possible continuity of the mineralization currently being mined and demonstrating potential
for Mineral Reserve growth and mine life extensions.
Step-out drilling highlights from Santoy include (see Figure 2) (see Table 1) (all intercepts true width):
• SUG-22-605: 28.9 g/t Au over 2.1 meters from 217 meters
• SUG-21-043: 8.3 g/t Au over 8.9 meters from 212 meters
o Including: 31.3 g/t Au over 1.9 meters from 212 meters
Drilling highlights from currently defined Mineral Resource blocks not included in the 2021 Seabee TRS life of mine
plan include (all intercepts true width):
• SUG-22-945: 17.7 g/t Au over 3.7 meters from 175 meters
• SUG-22-923: 18.9 g/t Au over 1.9 meters from 155 meters
• SUG-21-402: 6.1 g/t Au over 5.8 meters from 50 meters
o Including: 18.6 g/t Au over 2.0 meters from 55 meters
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Rod Antal, President and CEO of SSR Mining, said, “Building on Seabee’s long history of successfully replacing
depletion, drilling activity continues to focus on defining and converting additional Mineral Reserves at Santoy,
supporting the potential for mine life extensions at Seabee. At the same time, exploration has progressed at more
regional targets as we endeavor to define a longer-term production pathway for the asset. These results from the
Shane, Porky Main, and Porky West targets illustrate the significant brownfield growth potential for Seabee and
could potentially represent future production opportunities for the mine. While still an early-stage opportunity, the
broad, near surface intercepts suggest the potential for open pit mining at the Porky targets in the future. Given the
number of prospective targets at Seabee, we currently expect to expand our exploration program at the mine again
in 2023 as we look for ways to aggressively advance these opportunities towards potential development.”
The Porky Main and Porky West targets are located approximately four kilometers north-northwest of the Seabee
processing facility. SSR Mining completed nearly 10,800 meters of drilling (53 diamond drill holes) at the Porky
targets in 2022. Porky Main and Porky West 2022 drilling highlights include (see Figure 3 and Figure 4) (see Table
2) (all intercepts core length):
• PKY-22-028: 1.9 g/t Au over 31.3 meters from 51 meters
• PKY-22-007: 1.3 g/t Au over 23.7 meters from 6 meters
• PKY-22-005: 5.5 g/t Au over 9.3 meters from 83 meters
• GAS-22-165: 12.8 g/t Au over 11.1 meters from 214 meters
The Shane target represents the intersection of a number of historical zones of gold mineralization at various stages
of exploration maturity. SSR Mining completed over 19,600 meters (45 diamond drill holes) of drilling at Shane
targeting five structures including the S1, S2, S3, S4 and the Shane Hangingwall (“Shane HW”) structures. This
recent drilling, combined with past operator exploration, has resulted in approximately 30,000 meters of drilling
across almost 100 diamond drill holes at the target. Shane drilling highlights include (see Figure 5) (see Table 3) (all
intercepts true width):
• SHA-21-046: 54.3 g/t Au over 4.6 meters from 175 meters
o Including: 172.0 g/t over 1.0 meter from 175 meters
• SHA-22-057: 12.3 g/t Au over 2.1 meters from 111 meters
• SHA-21-053: 11.9 g/t Au over 2.3 meters from 383 meters
Table 1: Significant gold intercepts from recent drilling at Santoy.
Hole ID From
(m)
To
(m)
True Width
(m)
Gold
(g/t Au) Zone
SUG-21-043 212.0 221.0 8.9 8.3 SHW 1
Including 212.0 213.9 1.9 31.3 SHW 1
SUG-21-378 33.7 50.5 9.0 18.6 8A
SUG-21-379 46.5 71.0 10.1 10.3 8A
SUG-22-605 217.0 221.5 2.1 28.9 8A HW
SUG-21-400 34.5 39.4 4.8 22.2 8A
SUG-22-945 174.6 178.6 3.7 17.7 9A
SUG-22-923 154.8 156.8 1.9 18.9 9C
SUG-22-907 215.8 217.4 1.3 75.0 9A
SUG-22-922 162.2 165.2 2.9 27.8 9A
SUG-22-925 152.5 155.9 3.3 22.0 9A
SUG-21-402 49.6 58.2 5.8 6.1 8A
Including 54.7 57.1 2.0 18.6 8A
Notes: All Santoy drilling intercepts reflect true width intersections. Santoy results are cut to 75 g/t Au. For complete drillhole results from Santoy
during the Exploration Period, see Appendix Table 4 and Table 7. Santoy Hangingwall denoted as “SHW”, Hangingwall denoted as “HW”.
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Figure 1: Plan map of the Seabee property, highlighting existing infrastructure and exploration targets.
Overview of the Porky Main and Porky West Targets
The Porky Main and Porky West targets are located approximately four kilometers north-northwest of the Seabee
processing facility. Mineralization occurs along a 12 kilometer long openly folded unconformity, separating
arenaceous sedimentary rocks of the Rae Lake synform to the north from mafic volcanic rocks of the Seabee mine
area to the south. Both Porky Main and Porky West are characterized by the same calc-silicate alteration package,
however, the unconformity and arenites host most of the auriferous quartz veins at the Porky West deposit.
Porky Main and Porky West were discovered in 2002. A Mineral Resource is currently defined at Porky West and
contributed 52,000 tonnes of Measured and Indicated Mineral Resources at 5.0 g/t Au and 516,000 tonnes of
Inferred Mineral Resource at 4.4 g/t Au in the 2021 Seabee TRS. However, previous exploration activity at both
Porky Main and Porky West envisaged satellite underground operations. As described above, more recent
interpretation suggests the potential for open pit mining at the targets in the future, which will be evaluated through
additional drilling, as well as geotechnical and metallurgical analysis going forward.
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Table 2: Significant gold intercepts from recent drilling at the Porky Main and Porky West targets.
Hole ID From
(m)
To
(m)
Interval
(m)
Gold
(g/t) Zone
GAS-22-165 214.4 227.0 11.1 12.8 Porky West
PKY-22-003
50.5 55.0 4.5 0.2
Porky Main
59.5 64.0 4.5 4.5
82.0 89.5 7.5 1.5
93.5 102.0 8.5 0.6
112.1 117.0 5.0 4.3
123.0 131.4 8.4 7.4
PKY-22-028 51.0 82.3 31.3 1.9 Porky West
GAS-22-153 165.0 177.0 9.2 6.0 Porky West
GAS-22-159 178.0 195.0 16.5 3.2 Porky West
PKY-22-005
47.3 54.8 7.5 2.6
Porky Main60.8 75.0 14.2 0.6
83.0 92.3 9.3 5.5
PKY-22-006
16.5 24.0 7.5 0.4
Porky Main33.2 39.2 6.0 0.6
54.2 58.7 4.5 0.9
93.6 102.1 8.5 5.9
GAS-22-161 213.1 230.0 14.7 3.0 Porky West
PKY-22-023 149.0 165.0 16.0 2.5 Porky West
PKY-22-007
6.3 30.0 23.7 1.3
Porky Main55.9 62.0 6.1 0.5
66.5 71.0 4.5 0.2
Notes: All Porky Main and Porky West drilling intercepts reflect core length intersections. Porky Main and Porky West results are uncut, reported
at a 0.3 g/t Au cut-off and include a maximum of three meters internal dilution. For complete drillhole results for the Porky Main and Porky West
targets during the Exploration Period, see Appendix Table 5 and Table 8.
Overview of the Shane Target
The Shane target is located adjacent to the Santoy Road, which connects the Santoy Mine Complex to the Seabee
processing facility and is paralleled by the main powerline feeding Santoy. Drilling in the vicinity of the currently
defined Shane target was first completed in 2002 and 47 diamond drill holes have been completed by past
operators totaling over 10,000 meters, which identified a number of gold bearing zones at various stages of
exploration maturity. During the Exploration Period, SSR Mining drilled 45 diamond drill holes at the Shane target
totaling over 19,600 meters.
The focus of SSR Mining’s drilling at Shane has been to advance exploration at Shane's S1, S2, S3 and S4 targets
as a proof of concept for exploring the property more broadly. The S1-S3 targets are located along the hangingwall,
footwall and within the steeply south dipping Pine Lake Conglomerate (“PLC”); a kilometer scale, east striking unit
preserved in a sinistral shear zone known as the Pine Lake Shear Zone (“PLSZ”). The plunge of S1 mineralization
continues over approximately 500 meters. The S4 target is hosted within a mafic volcanic unit 50 meters north of
the PLSZ. All four targets are planar and roughly sub-parallel to the contact of the PLC.
During the exploration of these zones a new target was discovered in a southeast striking, more moderately dipping
splay of the PLSZ named the Shane HW. The Shane HW structure returned the highest grade and broadest
mineralized intervals of the program highlighting the importance of structures oriented oblique to the PLSZ for future
exploration. Economic grades and widths were encountered on all five structures tested with the most continuous
mineralization encountered on the S1 structure. Step out holes have traced the host lithology to a depth of
approximately 700 meters. While still early stage, the Shane target represents a target for follow up exploration and
resource development drilling going forward.
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Table 3: Significant gold intercepts from recent drilling at the Shane target.
Hole ID From
(m)
To
(m)
True Width
(m)
Gold
(g/t Au) Zone
SHA-21-046 175.3 181.0 4.6 54.3 Shane HW
Including 175.3 177.0 1.0 172.0 Shane HW
SHA-21-053 382.5 386.4 2.3 11.9 S1
SHA-22-057 111.3 114.6 2.1 12.3 S1
SHA-21-039 271.9 275.7 3.1 7.1 S1
SHA-22-084 403.8 407.0 2.4 8.3 S3
Notes: All Shane drilling intercepts reflect true width intersections. Shane results are uncut. For complete drillholes results for the Shane target
during the Exploration Period, see Appendix Table 6 and Table 9.
Seabee Property Overview
SSR Mining’s Seabee property is 100% owned and includes the Fisher claims, of which the acquisition of 100%
ownership was completed in 2022. Near mine activity during the Exploration Period focused on Mineral Resource
conversion at the 8A, 9A, and Santoy Hanging Wall (“SHW”) zones. During the Exploration Period, a total of 377
diamond drill holes were completed across the Seabee property, including 253 holes drilled from underground
drives at Santoy totaling over 45,200 meters. Following the completion of a new underground drill chamber in the
third quarter of 2022, the Company initiated drilling of the high grade zone mined in the first quarter of 2022. Results
from these activities are expected in the coming months and will be used to guide mine planning, including the
evaluation of additional mining in this high grade zone, during 2023.
The 2021 Seabee TRS highlighted a six-year Mineral Reserve life averaging approximately 96,000 ounces of
annual gold production. The life of mine plan was based on 580,000 ounces of Proven and Probable Mineral
Reserves calculated using a cut-off grade of 2.5 g/t Au and a 1.8 meter minimum mining width. Exploration
continues to focus on extending the Mineral Reserve life of the Santoy Mine Complex while simultaneously
conducting more regional activity to evaluate the longer-term development potential of the multitude of exploration
targets across the broader Seabee property.
Seabee Property Exploration Figures
Figure 2. Longitudinal section of the Santoy Mine Complex showing select intercepts outside of the Mineral Reserve blocks
incorporated in the 2021 Seabee TRS.
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Figure 3. Plan view of the Porky West target highlighting the diamond drill holes (DDH) completed in the area.
Figure 4. Plan view of the Porky Main target highlighting the diamond drill holes (DDH) completed in the area.
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Figure 5. Plan view of the Shane target highlighting a subset of the drilling completed in the area to-date.
Technical Procedural Information Sampling and Analytical Procedures
All drill samples in respect of the Seabee underground drilling program and some samples from the surface
program were assayed by our onsite non-accredited assay laboratory, which is not independent from SSR Mining.
Surface drilling samples not analyzed by our onsite assay laboratory were analyzed at SRC Geoanalytical
Laboratories Inc. (“SRC”) in Saskatoon, Saskatchewan, which also serves as the QAQC laboratory for our onsite
lab. Duplicate check assays were conducted at site as well as at SRC, which is independent from SSR Mining.
Mean results of the spot checks were consistent with those reported. Sampling interval was established by
minimum or maximum sampling lengths and geological and/or structural criteria.
Seabee’s site lab typically prepares two hundred-gram samples that were pulverized until greater than 80 percent
passed through a 150-mesh screen. Thirty-gram pulp samples were then analyzed for gold by fire assay with
gravimetric finish (0.01 g/t gold detection limit). SRC prepares a minus-150 mesh pulp (95% passing) weighing 250
grams from a minus 10 mesh coarse crush reject. Fire assay with Atomic Absorption finish was completed on a 30-
gram aliquot to produce gold analytical results with a 0.005 g/t gold detection limit. Fire assay with gravimetric finish
was prepared on those samples with greater than 3 g/t gold.
External review of data and processes relating to Seabee exploration data has been completed by independent
consultant Carl Edmunds in November 2022. There were no adverse material results detected and the QA/QC
indicates the information collected is acceptable, and the database can be used for further studies.
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Qualified Persons
The scientific and technical data contained in this news release relating to exploration activity at the Seabee
property has been reviewed and approved by Anders Carlson, P.Geo., Senior Manager, Exploration, and a qualified
person for purposes of Subpart 1300 of Regulation S-K and National Instrument 43-101 - Standards of Disclosure
for Mineral Projects. Scientific and technical data in this news release relating to resource development activity at
the Seabee property has been reviewed and approved by Jeffrey Kulas, P.Geo., Manager, Resource Development,
and a qualified person for purposes of Subpart 1300 of Regulation S-K and National Instrument 43-101 - Standards
of Disclosure for Mineral Projects.
You are encouraged to also review the 2021 Seabee TRS, which is available on SSR Mining’s Current Report on
Form 8-K filed with the Securities and Exchange Commission’s EDGAR system (sec.gov) on September 29, 2022.
You are encouraged to also review the 2021 Seabee TRS, which is available on SSR Mining’s Current Report on
Form 8-K filed with the Securities and Exchange Commission’s EDGAR system (sec.gov) on September 29, 2022.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused gold company with four producing assets located in the USA,
Türkiye, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration
assets. In 2021, the four operating assets produced approximately 794,000 gold-equivalent ounces. SSR Mining is
listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.
SSR Mining Contacts:
F. Edward Farid, Executive Vice President, Chief Corporate Development Officer
Alex Hunchak, Director, Corporate Development and Investor Relations
SSR Mining Inc.
E-Mail: [email protected]
Phone: +1 (888) 338-0046
To receive SSR Mining’s news releases by e-mail, please register using the SSR Mining website at
www.ssrmining.com.
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