Ssr Mining Reports Third Quarter 2023 Results Third Quarter 2023 Highlights (1)

SSR Mining Inc. PAGE 1

News Release

November 1, 2023

SSR MINING REPORTS THIRD QUARTER 2023 RESULTS

THIRD QUARTER 2023 HIGHLIGHTS (1)

• ATTRIBUTABLE AND ADJUSTED ATTRIBUTABLE DILUTED EARNINGS PER SHARE OF $0.07 AND $0.26, RESPECTIVELY

• QUARTERLY PRODUCTION OF 192,195 GOLD EQUIVALENT OUNCES AT COST OF SALES OF $1,095 AND AISC OF $1,289 PER OUNCE

• YEAR-TO-DATE PRODUCTION OF 495,668 GOLD EQUIVALENT OUNCES AT COST OF SALES OF $1,173 AND AISC OF $1,516 PER OUNCE

• REMAIN ON TRACK FOR THE LOW-END OF CONSOLIDATED PRODUCTION GUIDANCE OF 700,000 GOLD EQUIVALENT OUNCES

• QUARTERLY OPERATING CASH FLOW AND FREE CASH FLOW OF $135.3 MILLION AND $87.8 MILLION, RESPECTIVELY

• QUARTERLY OPERATING CASH FLOW AND FREE CASH FLOW BEFORE WORKING CAPITAL ADJUSTMENTS OF $142.4 MILLION AND $94.9

MILLION, RESPECTIVELY

• YEAR-TO-DATE 2023 CAPITAL RETURNS NOW TOTAL APPROXIMATELY $88.5 MILLION; ON TRACK FOR A MINIMUM FULL -YEAR CAPITAL

RETURNS YIELD OF 3.6%

• ACCESSED FIRST ORE FROM THE ÇAKMAKTEPE EXTENSION PROJECT DURING THE THIRD QUARTER, FIRST PRODUCTION DELIVERED

IN LATE SEPTEMBER IN LINE WITH GUIDANCE; EXPLORATION CONTINUES WITH AIM TO EXPAND MINERAL RESERVES AND RESOURCES

• PRODUCTION GUIDANCE TO BE RELEASED IN Q1/24 OUTLINING INITIATIVES TO DRIVE PRODUCTION GROWTH FROM EXPANSION

PROJECTS

• INITIAL HOD MADEN INFILL DRILLING COMMENCES WITH AIM TO DE -RISK PRODUCTION RAMP-UP; POSITIVE RESULTS INCLUDE 90

METERS AT 16.5 G/T GOLD AND 1.56% COPPER

• SEABEE EXPLORATION CONTINUES TO ILLUSTRATE MINE LIFE EXTENSION POTENTIAL AT THE PORKY TARGETS, INCLUDING 5.6 METERS

AT 46.1 G/T GOLD

• CONTINUED EXPLORATION AT THE CORTADERAS TARGET AT PUNA RETURNS 190 METERS AT 155 G/T SILVER AND 10.6% ZINC

• MARIGOLD EXPLORATION RESULTS EXPECTED TO OFFSET DEPLETION; ANALYSIS OF FUTURE GROWTH PATHWAYS AT NEW MILLENNIUM

AND INITIAL MINERAL RESOURCES AT BUFFALO VALLEY ADVANCING

• CONTINUED NON-CORE ASSET RATIONALIZATION PROGRAM WITH THE DIVESTITURE OF THE SUNRISE LAKE EXPLORATION PROPERTY

DENVER - SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) ("SSR Mining" or the “Company") reports consolidated

financial results for the third quarter ended September 30, 2023. In addition, the Board of Directors declared a quarterly

cash dividend of $0.07 per common share payable on December 11, 2023 to holders of record at the close of business on

November 13, 2023. This dividend qualifies as an 'eligible dividend' for Canadian tax purposes.

Rod Antal, Executive Chairman of SSR Mining, said, “The third quarter of 2023 featured strong operating and financial

results that were well aligned to our forecasts, including record production from Marigold and record throughput at Puna. In

addition, first ore from Çakmaktepe Extension was accessed late in the quarter, and the project is on track to deliver initial

production of 10,000 to 15,000 ounces in the fourth quarter of 2023 as planned. The results to date continue to put us on

track for the lower-end of our production guidance in 2023.

As we work towards a strong finish to the year, we have also committed a s ubstantive effort towards the advancement of

refreshed technical reports for both Marigold and Çöpler. To ensure we best align the reoptimized production profiles at

each asset with the growth trajectory of the overall portfolio, we now expect to release the results of this ongoing technical

work alongside our guidance forecasts and updated Mineral Reserves and Resources in February 2024. T he interim

analysis of the work completed to -date is revealing initial positives with respect to replacing and expanding our Mineral

Reserve and Mineral Resource base through recent exploration success.

(1) The Company reports non -GAAP financial measures including adjusted attributable net income, adjusted attributable net income per share, cash generate d by operating

activities before working capital adjustments, free cash flow, free cash flow before changes in working capital, total cash, net cash (debt), cash costs and all -in sustaining costs

(“AISC”) per ounce sold (a common measure in the mining industry), to manage and evaluate its operating performance at its mi nes. See "Cautionary Note Regarding Non -

GAAP Financial Measures" for an explanation of these financial measures and a reconciliation of these financial measures to t he most comparable GAAP financial measures.

SSR Mining Inc. PAGE 2

At Çakmaktepe Extension in particular, continued exploration success has pointed to potential growth beyond the current

Mineral Reserves at the mine. This increased scale has led to the re -evaluation of prior plans to heap leach the project’s

oxide ore at recovery rates averaging approximately 60% . We are currently conducting trade-off studies evaluating the

benefit of installing additional grinding and leaching capacity in the Çöpler processing facility to meaningfully improve gold

recoveries. This value a ccretive pathway has the potential to increase the profitability of Çakmaktepe Extension, but will

result in a delay ed ramp up to full production levels from the mine until late 2026 given the potential addition of this

incremental processing equipment.

As a result of the ongoing efforts to optimize our portfolio, the business is entering a three-year growth capital investment

period, particularly at Hod Maden and Çöpler, and we expect adjustments to the production and cost profile over the

upcoming three- to five-year period as compared to prior life of mine plans. While initial work to -date indicates that mine

resequencing and optimization activities across the portfolio will drive 2024 production that is lower than 2023 levels at

higher costs, annual gold production will grow as development projects at Hod Maden, Marigold and Çöpler are completed.

We are excited by the high-return growth opportunities on the horizon as we continue to expand both the production levels

and net asset value of our portfolio.”

SSR Mining Inc. PAGE 3

Third Quarter 2023 Highlights: (1)

(All figures are in US dollars unless otherwise noted)

▪ Strong quarterly operating performance: The Company delivered third quarter 2023 production of 192,195 gold

equivalent ounces at Cost of sales of $1,095 per gold equivalent ounce and AISC of $1,289 per gold equivalent ounce.

Year-to-date production is 495,668 gold equivalent ounces at Cost of sales of $1,173 per gold equivalent ounce and

AISC of $1,516 per gold equivalent ounce. The Company continues to track towards the lower-end of its production

guidance in 2023.

▪ Solid financial results including robust free cash flow generation: Attributable net income in the third quarter of

2023 was $15.2 million, or $0.07 per diluted share, reflecting one-time tax expenses associated with the previously

announced increase of the corporate income tax rate in Türkiye from 20% to 25%. Adjusted attributable net income was

$53.0 million, or $0.26 per diluted share. For the nine months ended September 30, 2023, attributable net income was

$119.8 million, or $0.57 per diluted share, and adjusted attributable net income was $149.4 million, or $0.70 per diluted

share. In the third quarter of 2023, operating cash flow was $ 135.3 million, or $ 142.4 million before working capital

adjustments, and free cash flow was $87.8 million, or $94.9 million before working capital adjustments. Free cash fl ow

is expected to remain strong in the fourth quarter of 2023 , though sales are expected to lag production into year -end

given the impact of the holiday season on metal shipments.

▪ Balance sheet continues to support organic growth initiatives: As of September 30, 2023, SSR Mining had a total

cash balance of $437.8 m illion, reflecting $14.4 million in dividends paid to shareholders and $35.8 million in debt

repayments made in the third quarter of 2023. SSR Mining has now extinguished the outstanding balance on its term

loan and exited the third quarter of 2023 with a non-GAAP net cash position of $206.9 million and total available liquidity

of $937.8 million, supporting the Company’s g rowth capital commitments over the coming three -year reinvestment

period. Subsequent to the quarter, the Board declared a quarter ly cash dividend of $0.07 per share to be paid on

December 11, 2023. Including the fourth quarter 2023 dividend, the Company is expected to return a minimum of $102.7

million in capital returns in 2023, or a 3.6% yield.

▪ Revolving credit facility extended: On August 15, 2023, the Company announced that its existing revolving credit

facility (the “Second Amended Credit Agreement”) was increased from $200 million to $400 million, with an additional

accordion feature of $100 million. The Second Amended Credit Agreement has a renewed term of 4 years, and now

matures on August 15, 2027. Under the terms of the increased facility, amounts that are borrowed will incur variable

interest at the Secured Overnight Financing Rate plus a n applicable marg in ranging from 2.00% to 2.75%. The

expanded facility will provide the Company with flexibility for working capital and other general corporate purposes.

▪ Çöpler planned maintenance completed; Çakmaktepe Extension delivers first production in the third quarter:

Gold production was 56,768 ounces in the third quarter of 2023 at Cost of sales of $1,190 per ounce and AISC of $1,378

per ounce. Planned maintenance in the Çöpler sulfide plant was completed in the third quarter of 2023, and no further

planned maintenance is expected until the fourth quarter of 2024. First ore from the Çakmaktepe Extension project was

accessed late in the third quarter of 2023, and initial production from the mine was received at quarter’s end, in line with

expectations.

▪ Record quarterly production at Marigold: Gold production of 83,272 ounces in the third quarter of 2023 was a record

at Cost of sales of $980 per ounce and AISC of $1,106 per ounce. During the third quarter of 2023, newly acquired haul

trucks intended for stripping activities at Red Dot were reassigned to ore mining in the Mackay pit as the Company

focused on the delivery of 2023 guidance. This resequencing is likely to result in delayed access to first ore from Red

Dot to the second half of 2024, deferring the associated production into 2025 and 2026.

SSR Mining Inc. PAGE 4

▪ Seabee production recovers, grades and throughput to improve further in the fourth quarter: Gold production

was 19,823 ounces in the third quarter of 2023 at Cost of sales of $1,026 per ounce and AISC of $1,382 per ounce.

Seabee is on track for further production and cost improvement in the fourth quarter of 2023, as grades are forecasted

to average between 6.0 g/t and 7.0 g/t in the quarter.

▪ Puna delivers record quarterly operating performance: Silver production in the third quarter of 2023 was 2.6 million

ounces at Cost of sales of $15.23 per ounce of silver and AISC of $ 13.04 per ounce of silver. Quarterly process plant

throughput averaged nearly 4,900 tonnes per day, a record for the mine.

▪ Exploration programs continue to showcase growth potential across the portfolio: SSR Mining’s significant

investment in exploration activities across its operations has continued to yield success indicating potential for Mineral

Reserve and Mineral Resource growth across the portfolio. At Seabee, regional exploration activities have focused on

the Porky West and Petunia targets with more than 80 holes drilled in 2023, including 46.1 g/t gold over 5.6 meters at

Porky West. At Puna’s Cortaderas target, nine holes have returned assay results since the March 2023 exploration

update from the mine, including a 190 meter intercept of 155 g/t silver and 10.6% zinc (479 g/t AgEq). SSR Mining has

also commenced an infill drilling campaign at Hod Maden with the aim to de-risk the ramp up of initial mining at the

project, expected in 2027. The three holes with assays returned to date include a highlight intercept of 90 meters at

16.5 g/t gold and 1.56% copper, reiterating the world class nature of the Hod Maden orebody.

▪ High-return development projects expected to drive meaningful production growth over the three- to five-year

period: SSR Mining is currently reviewing its forward-looking production profile ahead of 2024 and multi-year guidance

that will be announced in the first quarter of 2024. A number of low capital intensity, high-return organic growth projects,

including Hod Maden, the Red Dot deposit at Marigold and the grind and leach circuit for Çakmaktepe Extension, are

expected to drive future production growth. Advancing these projects effectively, as well the resequencing of waste

stripping at Marigold and the transition to mining of the Gap Hanging Wall ore body at Seabee, is expected to bring

2024 production below 2023 levels at higher costs.

▪ Non-core Sunrise Lake exploration property divested : Subsequent to quarter’s end, S SR Mining announced a

definitive agreement to sell its Sunrise Lake Property (“Sunrise Lake” or the “Property”) in exchange for a 4. 0% net

smelter return (“NSR”) royalty on the Property. Under the terms of the agreement, at any time until commencement of

construction activities, 2.0% of the NSR royalty can be repurchased by Honey Badger for total consideration of $10

million.

SSR Mining Inc. PAGE 5

Financial and Operating Highlights

A summary of the Company's consolidated financial and operating results for the three and nine months ended

September 30, 2023 and September 30, 2022 are presented below:

Three Months Ended Nine Months Ended

(in thousands of US dollars, except per share data) September 30, September 30,

2023 2022 2023 2022

Financial Results

Revenue $ 385,390 $ 166,627 $ 1,001,030 $ 841,656

Cost of sales $ 214,670 $ 106,452 $ 584,607 $ 424,900

Operating income $ 77,465 $ (35,064) $ 167,379 $ 150,901

Net income $ (7,245) $ (28,372) $ 144,135 $ 115,251

Net income attributable to SSR Mining shareholders $ 15,159 $ (25,793) $ 119,838 $ 100,256

Basic net income per share attributable to SSR Mining shareholders $ 0.07 $ (0.12) $ 0.58 $ 0.48

Diluted net income per share attributable to SSR Mining shareholders $ 0.07 $ (0.12) $ 0.57 $ 0.46

Adjusted attributable net income (2) $ 53,040 $ (13,533) $ 149,417 $ 119,234

Adjusted basic attributable net income per share (2) $ 0.26 $ (0.07) $ 0.73 $ 0.57

Adjusted diluted attributable net income per share (2) $ 0.26 $ (0.07) $ 0.70 $ 0.55

Cash generated by operating activities before changes in working capital (2) $ 142,350 $ (23,666) $ 337,484 $ 212,703

Cash generated by operating activities $ 135,256 $ (52,226) $ 218,566 $ 42,799

Cash used in investing activities $ (48,470) $ (12,238) $ (280,211) $ (69,983)

Cash used in financing activities $ (46,672) $ (121,951) $ (157,806) $ (238,634)

Operating Results

Gold produced (oz) 159,863 76,462 411,587 368,972

Gold sold (oz) 161,227 72,035 412,254 375,543

Silver produced ('000 oz) 2,645 2,738 6,930 6,008

Silver sold ('000 oz) 2,852 2,234 7,090 5,766

Lead produced ('000 lb) (3) 10,403 11,390 31,957 27,582

Lead sold ('000 lb) (3) 11,707 9,169 34,882 28,255

Zinc produced ('000 lb) (3) 1,577 1,590 5,805 4,940

Zinc sold ('000 lb) (3) 1,454 1,050 6,174 5,546

Gold equivalent produced (oz) (3) 192,195 106,919 495,668 441,164

Gold equivalent sold (oz) (3) 196,088 96,885 498,284 444,827

Average realized gold price ($/oz sold) $ 1,913 $ 1,691 $ 1,925 $ 1,836

Average realized silver price ($/oz sold) $ 21.99 $ 16.75 $ 23.14 $ 19.82

Cost of sales per gold equivalent ounce sold (4) $ 1,095 $ 1,099 $ 1,173 $ 955

Cash cost per gold equivalent ounce sold (2, 4) $ 1,046 $ 1,051 $ 1,114 $ 891

AISC per gold equivalent ounce sold (2, 4) $ 1,289 $ 1,901 $ 1,516 $ 1,331

Financial Position September 30, 2023 December 31, 2022

Cash and cash equivalents $ 437,675 $ 655,453

Current assets $ 1,157,979 $ 1,376,435

Total assets $ 5,749,660 $ 5,254,657

Current liabilities $ 166,145 $ 279,252

Total liabilities $ 1,156,545 $ 1,128,458

Working capital (5) $ 991,834 $ 1,097,183

(2) The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted attributable net income per share, cash generated by

operating activities before changes in working capital, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines.

See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a rec onciliation of these financial

measures to net income (loss) attributable to SSR Mining shareholders , Cost of sales , and cash generated by operating activities, which are the most

comparable GAAP financial measures. Cost of sales excludes depreciation, depletion, and amortization.

(3) Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate.

(4) Gold equivalent ounces are calculated by multiplying the silver ounces by the ratio of the silver price to the gold price, using the average London Bullion Market

Association (“LBMA”) prices for the period. The Company does not include by-products in the gold equivalent ounce calculations.

(5) Working capital is defined as current assets less current liabilities.

SSR Mining Inc.

PAGE 6

Çöpler, Türkiye

(amounts presented on 100% basis)

Three Months Ended Nine Months Ended

September 30, September 30,

Operating Data 2023 2022 2023 2022

Gold produced (oz) 56,768 3,733 163,873 125,763

Gold sold (oz) 58,694 2,591 165,905 132,862

Ore mined (kt) 915 70 3,278 1,754

Waste removed (kt) 7,448 406 17,664 11,715

Total material mined (kt) 8,363 476 20,942 13,469

Strip ratio 8.1 5.8 5.4 6.7

Ore stacked (kt) 289 — 631 210

Gold grade stacked (g/t) 1.47 — 1.40 0.87

Ore milled (kt) 618 64 2,022 1,320

Gold mill feed grade (g/t) 2.92 2.27 2.56 2.91

Gold recovery (%) 85.1 86.0 87.2 87.1

Average realized gold price ($/oz sold) $ 1,928 $ 1,641 $ 1,930 $ 1,864

Cost of sales ($/oz gold sold) $ 1,190 $ 118 $ 1,202 $ 948

Cash costs ($/oz gold sold) (6) $ 1,167 $ 160 $ 1,186 $ 928

AISC ($/oz gold sold) (6) $ 1,378 $ 14,972 $ 1,397 $ 1,351

(6) The Company reports the non -GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at

Çöpler. See "Non-GAAP Financial Measures" for an explanation of these financial measures and a reconciliation to Cost of sales, which are the comparable

GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended September 30, 2023 and 2022, Çöpler produced 56,768 and 3,733 ounces of gold, respectively.

For the nine months ended September 30, 2023 and 2022, Çöpler produced 163,873 and 125,763 ounces of gold,

respectively. Third quarter 2023 Cost of sales of $1,190 per ounce and AISC of $1,378 per ounce reflected normal course

costs associated with the planned maintenance of the sulfide plant that was completed in the quarter.

The Çakmaktepe Extension project accessed first ore in the third quarter of 2023, and subsequently delivered first

production in late September 2023. Çakmaktepe Extension remains on track to produce 10,000 to 15,000 ounces of gold

in the fourth quarter 2023.

SSR Mining Inc.

PAGE 7

Marigold, USA

Three Months Ended Nine Months Ended

September 30, September 30,

Operating Data 2023 2022 2023 2022

Gold produced (oz) 83,272 52,236 195,694 131,793

Gold sold (oz) 83,103 49,744 194,789 132,681

Ore mined (kt) 7,732 4,279 18,141 13,200

Waste removed (kt) 16,329 15,922 49,007 56,286

Total material mined (kt) 24,061 20,201 67,148 69,486

Strip ratio 2.1 3.7 2.7 4.3

Ore stacked (kt) 7,732 4,279 18,141 13,200

Gold grade stacked (g/t) 0.45 0.59 0.46 0.54

Average realized gold price ($/oz sold) $ 1,908 $ 1,692 $ 1,923 $ 1,797

Cost of sales costs ($/oz gold sold) $ 980 $ 1,079 $ 1,027 $ 1,077

Cash costs ($/oz gold sold) (7) $ 981 $ 1,081 $ 1,029 $ 1,078

AISC ($/oz gold sold) (7) $ 1,106 $ 1,444 $ 1,423 $ 1,482

(7) The Company reports the non -GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at

Marigold. See "Non-GAAP Financial Measures" for an explanation of these financial measures and a reconciliation to Cost of sales, which are the comparable

GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended September 30, 2023 and 2022, Marigold produced 83,272 and 52,236 ounces of gold,

respectively. For the nine months ended September 30, 2023 and 2022, Marigold produced 195,694 and 131,793 ounces

of gold, respectively. Third quarter 2023 Cost of sales were $980 per ounce and AISC were $1,106 per ounce.

During the third quarter of 2023, newly acquired haul trucks intended for stripping activities at Red Dot were reassigned to

ore mining in the Mackay pit as the Company focused on the delivery of 2023 guidance. This resequencing is likely to result

in delayed access to first ore from Red Dot to the second half of 2024, deferring the associated production into 2025 and

2026.

SSR Mining Inc.

PAGE 8

Seabee, Canada

Three Months Ended Nine Months Ended

September 30, September 30,

Operating Data 2023 2022 2023 2022

Gold produced (oz) 19,823 20,493 52,020 111,416

Gold sold (oz) 19,430 19,700 51,560 110,000

Ore mined (kt) 108 108 326 307

Ore milled (kt) 105 101 323 295

Gold mill feed grade (g/t) 6.17 6.07 5.29 11.84

Gold recovery (%) 96.5 97.3 96.5 98.2

Average realized gold price ($/oz sold) $ 1,884 $ 1,693 $ 1,915 $ 1,849

Cost of sales ($/oz gold sold) $ 1,026 $ 908 $ 1,192 $ 485

Cash costs ($/oz gold sold) (8) $ 1,027 $ 910 $ 1,193 $ 486

AISC ($/oz gold sold) (8) $ 1,382 $ 1,304 $ 1,742 $ 735

(8) The Company reports the non -GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at

Seabee. See "Non-GAAP Financial Measures" for an explanation of these financial measures and a reconciliation to Cost of sales, which are the comparable

GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended September 30, 2023 and 2022, Seabee produced 19,823 and 20,493 ounces of gold,

respectively. For the nine months ended September 30, 2023 and 2022, Seabee produced 52,020 and 111,416 ounces of

gold, respectively. Improved production resulted in third quarter 2023 Cost of sales of $1,026 per ounce and AISC of $1,382

per ounce.

SSR Mining continues to invest significant ly in near-mine and regional exploration at Seabee as the Company seeks to

extend the existing Mineral Reserve life of the operation. In 2023, drilling at the Porky West and Petunia targets has been

a focus for the resource development team. In Seabee’s 2021 Technical Report Summary, Porky West hosted approximately

8,000 ounces of Indicated Mineral Resources and approximately 73,000 ounces of Inferred Mineral Resources. Since that

time, exploration has focused on step-out and expansion drilling across the greater Porky target area with success.

At present, mineralization at Porky West has been identified to 500 meters of vertical depth and remains open down plunge.

Incorporating both Porky West and the Petunia target, mineralization has been ident ified along 1,250 meters of strike and

remains open in both directions. Initial analysis of ongoing technical work indicates the potential for a positive updated

resource for the Porky targets. If exploration and initial economic studies are successful, the targets have potential as a new

underground mining area for the Seabee operation.

Highlights from 2023 drilling at the Porky targets include (see Figure 1) (see Table 1 for full assay results) (all intercepts true

width and uncut):

• GAS-23-289: 46.1 g/t Au over 5.6 meters from 242.0 meters

• GAS-23-243: 26.0 g/t Au over 5.5 meters from 193.0 meters

• GAS-23-283: 19.0 g/t Au over 4.4 meters from 190.0 meters

• GAS-23-194: 9.4 g/t Au over 8.3 meters from 350.2 meters