Ssr Mining Reports Second Quarter 2026 Results
SSR MINING | PAGE 1
News Release
August 4, 2026
SSR MINING REPORTS SECOND QUARTER 2026 RESULTS
DENVER - SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") reports consolidated financial results
for the second quarter ended June 30, 2026. In addition, the Board of Directors declared a quarterly cash dividend of $0.03
per common share payable on September 11, 2026 to holders of record at the close of business on August 14, 2026. This
dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
• Consolidated operating results from continuing operations : Second quarter 2026 production was 101,959 gold
equivalent ounces at consolidated cost of sales of $ 1,775 per payable ounce and all -in sustaining costs (“AISC”) of
$2,622 per payable ounce. (1) In the first half of 2026 , the Company produced 211,873 gold equivalent ounces at
consolidated cost of sales of $ 1,749 per payable ounce and AISC of $ 2,521 per payable ounce. Year-to-date results
are well aligned with full-year 2026 production guidance of 450,000 to 535,000 gold equivalent ounces and the
Company’s expectations of a second-half weighted production profile. Full-year AISC is trending towards the top end of
SSR Mining ’s 2026 guidance, as the Company capitalizes on its strong liquidity position to accelerate capital
investments in support of mine life extension initiatives across the portfolio.
• Financial results from continuing operations: In the second quarter of 2026, SSR Mining reported net income and
adjusted net income attributable to SSR Mining shareholders of $137.0 million, or $0.66 per diluted share. In the second
quarter of 2026, operating cash flow was $ 115.6 million and free cash flow was $ 50.3 million. In the first half of 2026 ,
operating cash flow was $420.5 million and free cash flow was $299.1 million.
• Completed strategic refocus to the Americas: On June 24, 2026, SSR Mining closed the sale of its 80% ownership
stake in the Çöpler mine and related properties in Türkiye (collectively, “Çöpler”) for approximately $1.49 billion in cash
consideration. Subsequently, on July 17, 2026, the Company closed the sale of its 20% ownership stake in the Hod
Maden development project (the "Hod Maden Project") for an uncapped 4.0% net smelter return royalty ("NSR") on
100% of the Hod Maden Project. These transactions completed SSR Mining’s strategic refocus to a free -cash-flow-
focused Americas gold and silver producer anchored by its long-lived operations in the United States.
• Capital Returns: In the second quarter of 2026, SSR Mining completed a total of $337.8 million in share buybacks
through the repurchase of 10.4 million shares. Year-to-date, SSR Mining has repurchased 12.9 million shares for a total
of $409.2 million in capital returns, or an effective yield of nearly 8%. On June 15, 2026, the Company announced
approvals for an additional $500 million for share repurchases, of which $109.2 million has been returned to
shareholders to July 31, 2026 . Additionally, on August 4, 2026, the Board declared a quarterly cash dividend of $0.0 3
per share to be paid on September 11, 2026. Since 2021, SSR Mining has returned nearly $900 million to shareholders
through the repurchase of more than 32 million shares and over $170 million in dividends.
• Cash and liquidity position: As of June 30, 2026, SSR Mining had a cash and cash equivalent balance of $ 1,783.0
million and no long-term debt outstanding.
• Revolving credit facility extended: On July 31, 2026, SSR Mining amended its existing revolving credit facility (the
“Facility”). The Facility now matures on July 31, 2030 and capacity was increased from $400 million to $600 million.
Under the terms of the expanded Facility, amounts borrowed will incur variable interest at the Secured Overnight
Financing Rate plus an applicable margin ranging from 1.75% to 2.5%, an improvement over the prior facility margin of
2.00% to 2.75%.
SSR MINING | PAGE 2
• Development & exploration in the Americas : SSR Mining continues to advance key brownfield organic growth
projects across the portfolio, including Buffalo Valley at Marigold, Cortaderas at Puna, and Porky at Seabee. These
projects represent low -cost, high-return development opportunities and have t he potential to meaningfully extend the
mine lives at each asset. On June 29, 2026, SSR Mining closed an approximately C$5 million strategic investment to
acquire 9.9% of Phenom Resources Corp.’s (“Phenom”) outstanding shares on an undiluted basis. SSR Mining also
entered into a Framework Agreement which grants SSR Mining the right to acquire a 15% interest in Phenom’s Dobbin
Project in Nevada for an additional $4 million. Phenom has defined a more than 2 kilometer long and 200 meter wide
gold-in-soil anomaly supported by strong chip sampling results across the target area. Exploration drilling to te st for
potential Carlin-style gold mineralization at the Dobbin project commenced early in the third quarter of 2026.
Rod Antal, Executive Chairman of SSR Mining, said, “ We have now completed the strategic repositioning of our business
to the Americas. Anchored by our long-lived Marigold and CC&V operations in the USA, our focus on delivering sustainable
free cash flow and best-in-class capital returns is a clear differentiator amongst the peer group.
Operationally, our second quarter results were aligned with our expectations and have the business tracking well against
full-year production guidance targets. As we have stated throughout the year, we expect a stronger second half of production
and free cash flow across the portfolio.
I am pleased with SSR Mining’s current strategic position . We are actively returning capital to shareholders through
continued buybacks and our reinstated dividend program, while delivering strong operating results and advancing organic
growth initiatives to extend the mine lives at each of our operations. I look forward to a strong finish to 2026 as we reinforce
our position as a leading mid-cap gold producer.”
SSR MINING | PAGE 3
Financial and Operating Summary
A summary of the Company's consolidated financial and operating results for the three and six months ended June 30, 2026
and June 30, 2025 are presented below:
Three Months Ended Six Months Ended
(in thousands, except per share data or otherwise stated) June 30, June 30,
2026 2025 2026 2025
Financial Results
Revenue $ 443,798 $ 405,455 $ 1,025,576 $ 722,073
Cost of sales $ 173,672 $ 162,948 $ 368,791 $ 299,589
Operating income $ 191,676 $ 168,076 $ 492,131 $ 274,892
Net income (loss) $ 92,435 $ 80,362 $ (22,717) $ 134,808
Net income from continuing operations $ 137,014 $ 131,983 $ 387,686 $ 216,538
Net income (loss) from discontinued operations $ (44,579) $ (51,621) $ (410,403) $ (81,730)
Net income attributable to SSR Mining shareholders from continuing operations $ 137,014 $ 131,983 $ 387,686 $ 216,538
Basic net income per share attributable to SSR Mining shareholders from continuing operations $ 0.66 $ 0.65 $ 1.87 $ 1.07
Diluted net income per share attributable to SSR Mining shareholders from continuing operations $ 0.66 $ 0.61 $ 1.82 $ 1.01
Adjusted net income attributable to SSR Mining shareholders from continuing operations (1) $ 137,014 $ 138,303 $ 387,686 $ 228,291
Basic adjusted net income per share attributable to SSR Mining shareholders from continuing
operations (1) $ 0.66 $ 0.68 $ 1.87 $ 1.13
Diluted adjusted net income per share attributable to SSR Mining shareholders from continuing
operations (1) $ 0.66 $ 0.64 $ 1.82 $ 1.06
Cash provided by operating activities from continuing operations $ 115,619 $ 150,702 $ 420,457 $ 269,926
Cash provided by (used in) operating activities of discontinued operations $ (15,317) $ 6,854 $ (55,665) $ (30,033)
Cash provided by operating activities $ 100,302 $ 157,556 $ 364,792 $ 239,893
Cash provided by (used in) investing activities $ 1,399,476 $ (68,219) $ 1,313,207 $ (220,000)
Cash provided by (used in) financing activities $ (340,524) $ 7,856 $ (418,743) $ 10,531
Continuing Operating Results
Gold produced (oz) 75,601 90,966 157,915 166,835
Gold sold (oz) 73,919 90,739 157,812 168,447
Silver produced ('000 oz) 1,661 2,849 3,399 5,354
Silver sold ('000 oz) 1,506 2,534 3,339 4,909
Lead produced ('000 lb) (2) 7,131 13,877 15,293 25,365
Lead sold ('000 lb) (2) 7,304 12,058 16,221 24,111
Zinc produced ('000 lb) (2) 963 1,125 1,987 1,883
Zinc sold ('000 lb) (2) 889 1,279 1,627 1,541
Gold equivalent produced (oz) (3) 101,959 120,191 211,873 223,987
Gold equivalent sold (oz) (3) 97,822 116,736 210,814 220,843
Average realized gold price ($/oz sold) $ 4,301 $ 3,336 $ 4,550 $ 3,151
Average realized silver price ($/oz sold) $ 74.24 $ 35.24 $ 83.88 $ 33.90
Cost of sales per gold equivalent ounce sold (3) $ 1,775 $ 1,396 $ 1,749 $ 1,357
Cash cost per gold equivalent ounce sold (1,3) $ 1,637 $ 1,282 $ 1,623 $ 1,247
AISC per gold equivalent ounce sold (1,3) $ 2,622 $ 1,858 $ 2,521 $ 1,807
Financial Position From Continuing Operations June 30, 2026 December 31, 2025
Cash and cash equivalents $ 1,783,042 $ 515,561
Current assets $ 2,469,303 $ 1,287,265
Total assets $ 4,279,290 $ 6,093,898
Current liabilities $ 252,238 $ 618,356
Total liabilities $ 887,716 $ 1,779,644
Working capital (4) $ 2,217,065 $ 668,909
(1) The Company reports non-GAAP financial measures including adjusted net income (loss) attributable to SSR Mining shareholders from continuing operatio ns,
adjusted net income (loss) per share attributable to SSR Mining shareholders from continuing operations , 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 reconciliation of these financial me asures to net income (loss), net income (loss) per share attributable to SSR Mining shareholders from
continuing operations, and cost of sales, which are the most comparable GAAP financial measures. Cost of sales excludes depreciation, depletion, and
amortization.
(2) 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.
(3) Effective January 1, 2026, the Company calculates gold equivalent ounces (“GEOs”) using a fixed silver -to-gold ratio of 63:1. In prior periods, GEOs were
calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company
does not include by-products in the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.
(4) Working capital is defined as current assets less current liabilities.
SSR MINING | PAGE 4
Marigold, USA
For the three months ended June 30, 2026 and 2025, Marigold produced 31,059 and 35,906 ounces of gold, respectively.
For the six months ended June 30, 2026 and 2025, Marigold produced 68,789 and 74,492 ounces of gold, respectively.
During the second quarter of 2026, Marigold reported cost of sales of $ 1,980 per payable ounce and AISC of $ 3,044 per
payable ounce.
Full-year production at Marigold remains strongly weighted to the second half as higher grades drive increased production,
with approximately 65% of second half production expected in the fourth quarter. Full-year AISC at Marigold are trending
towards the top-end of the Company’s 2026 guidance range , and sustaining capital is expected to remain elevated in the
third quarter due to the timing of spend on fleet replacements and upgrades. 2026 growth capital guidance at Marigold has
been increased from $48 million to $65 million as the Company plans to accelerate spend to facilitate longer-term growth,
particularly at Buffalo Valley.
SSR Mining continues to advance growth initiatives across Marigold, including Buffalo Valley, with an updated life of mine
plan expected by the end of 2026 . Ongoing exploration and evaluation of other brownfield targets, including New
Millennium, Marigold North, and DG80, continues as SSR Mining evaluates additional pathways for longer-term growth.
Three Months Ended Six Months Ended
June 30, June 30,
Operating Data 2026 2025 2026 2025
Gold produced (oz) 31,059 35,906 68,789 74,492
Gold sold (oz) 29,720 35,589 69,229 75,997
Ore mined (kt) 4,324 3,425 9,271 8,781
Waste removed (kt) 17,044 20,912 36,550 41,367
Total material mined (kt) 21,368 24,337 45,821 50,148
Strip ratio 3.9 6.1 3.9 4.7
Ore stacked (kt) 4,324 3,426 9,271 8,782
Gold grade stacked (g/t) 0.28 0.62 0.27 0.44
Average realized gold price ($/oz sold) $ 4,284 $ 3,337 $ 4,548 $ 3,104
Cost of sales ($/oz gold sold) $ 1,980 $ 1,584 $ 1,885 $ 1,515
Cash costs ($/oz gold sold) (5) $ 1,979 $ 1,586 $ 1,884 $ 1,516
AISC ($/oz gold sold) (5) $ 3,044 $ 1,977 $ 2,657 $ 1,864
(5) 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 "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a
reconciliation to cost of sales, which is the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.
SSR MINING | PAGE 5
Cripple Creek & Victor, USA
For the three months ended June 30, 2026, and 2025, Cripple Creek & Victor (“CC&V”) produced 27,725 and 44,062 ounces
of gold, respectively. For the six months ended June 30, 2026 and 2025, CC&V produced 66,023 and 55,344 ounces of
gold, respectively. During the second quarter of 2026, CC&V reported cost of sales of $1,561 per payable ounce and AISC
of $1,995 per payable ounce.
For the remainder of the year, CC&V's production is expected to be approximately 50 to 55% weighted to the fourth quarter.
Full-year AISC at CC&V are expected to trend towards the top of the Company’s 2026 guidance range due to modest
increases in sustaining capital spend on equipment components and general site improvement initiatives. Growth capital
guidance in 2026 has been increased from $55 million to $60 million due to the timing of spend on the expansion of VLF2.
SSR Mining continues to evaluate opportunities to improve the longer -term production and cost profile at CC&V, including
the potential for future Mineral Reserve conversion opportunities . As of year-end 2025, CC&V hosted 4.8 million ounces of
Measured and Indicated gold resources and 2.0 million ounces of gold Inferred Mineral Resources in addition to 2.7 million
ounces of gold Mineral Reserves.
Three Months Ended Six Months Ended
June 30, June 30,
Operating Data 2026 2025 2026 2025 (6)
Gold produced (oz) 27,725 44,062 66,023 55,344
Gold sold (oz) 28,499 44,800 66,746 56,100
Ore mined (kt) 3,726 3,441 7,097 5,265
Waste removed (kt) 6,134 4,880 11,654 6,451
Total material mined (kt) 9,860 8,321 18,751 11,716
Strip ratio 1.6 1.4 1.6 1.2
Ore stacked (kt) 3,761 3,519 7,036 5,378
Gold grade stacked (g/t) 0.46 0.50 0.45 0.45
Average realized gold price ($/oz sold) $ 4,397 $ 3,336 $ 4,636 $ 3,282
Cost of sales ($/oz gold sold) $ 1,561 $ 1,116 $ 1,487 $ 1,212
Cash costs ($/oz gold sold) (7) $ 1,430 $ 1,105 $ 1,396 $ 1,199
AISC ($/oz gold sold) (7) $ 1,995 $ 1,339 $ 1,802 $ 1,427
(6) For the six months ended June 30, 2025, all metrics represent the period from February 28, 2025, the closing date of the CC&V acquisition, to June 30, 2025.
(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 CC&V.
See "Cautionary Note Regarding Non -GAAP Financial Measures" at the end of this press release for an expl anation of these financial measures and a
reconciliation to cost of sales, which is the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.
SSR MINING | PAGE 6
Seabee, Canada
For the three months ended June 30, 2026 and 2025, Seabee produced 16,817 and 10,998 ounces of gold, respectively.
For the six months ended June 30, 2026 and 2025, Seabee produced 23,103 and 36,999 ounces of gold, respectively.
During the second quarter of 2026, Seabee reported cost of sales of $ 1,721 per payable ounce and AISC of $ 2,358 per
payable ounce.
Seabee’s second half production is expected to be 55 to 60% weighted to the fourth quarter of 2026 due to higher grades ,
and the Company continues to trend towards the bottom -end of full-year production guidance. AISC in 2026 are expected
at the top -end of the Company’s guidance range and are expected to be lowest in the fourth quarter. S ustaining capital
spend is expected to be approximately equally weighted between the third and fourth quarters. Growth capital guidance for
Seabee in 2026 has been increased from $15 million to $35 million to further advance the Porky West project in the second
half of the year.
SSR Mining is continuing to advance exploration and resource development activities at both Santoy and Porky as potential
avenues for Mineral Reserve growth and mine life extension. Near-mine drilling at Santoy is targeting higher grades at depth
to further improve the production profile while the evaluation of Porky as a potential new mining front continues.
Three Months Ended Six Months Ended
June 30, June 30,
Operating Data 2026 2025 2026 2025
Gold produced (oz) 16,817 10,998 23,103 36,999
Gold sold (oz) 15,700 10,350 21,837 36,350
Ore mined (kt) 106 66 187 148
Ore milled (kt) 112 68 188 158
Gold mill feed grade (g/t) 4.95 5.22 4.17 7.38
Gold recovery (%) 96.5 96.6 95.7 97.0
Average realized gold price ($/oz sold) $ 4,158 $ 3,335 $ 4,292 $ 3,048
Cost of sales ($/oz gold sold) $ 1,721 $ 1,785 $ 2,210 $ 1,145
Cash costs ($/oz gold sold) (8) $ 1,721 $ 1,786 $ 2,211 $ 1,145
AISC ($/oz gold sold) (8) $ 2,358 $ 2,708 $ 3,396 $ 1,754
(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 "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a
reconciliation to cost of sales, which is the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.
SSR MINING | PAGE 7
Puna, Argentina
For the three months ended June 30, 2026 and 2025, Puna produced 1.7 and 2.8 million ounces of silver, respectively. For
the six months ended June 30, 2026 and 2025, Puna produced 3.4 and 5.4 million ounces of silver, respectively. During the
second quarter of 2026, Puna reported cost of sales of $28.77 per payable ounce and AISC of $29.52 per payable ounce.
Production at Puna is expected to be relatively evenly split between the third and the fourth quarter of 2026. AISC in 2026
are expected to trend towards the top-end of the Company’s full-year guidance range largely due to inflationary pressures.
Growth capital guidance for 2026 at Puna has been increased from $18 million to $20 million as SSR Mining plans to
advance opportunities to extend operations at Chinchillas.
SSR Mining continues to evaluate a number of potential growth projects at Puna, including additional laybacks at the
Chinchillas pit, potential new development at the Melina open pit target adjacent to Chinchillas, and continued advancement
of the Cortaderas project.
Three Months Ended Six Months Ended
June 30, June 30,
Operating Data 2026 2025 2026 2025
Silver produced ('000 oz) 1,661 2,849 3,399 5,354
Silver sold ('000 oz) 1,506 2,534 3,339 4,909
Lead produced ('000 lb) 7,131 13,877 15,293 25,365
Lead sold ('000 lb) 7,304 12,058 16,221 24,111
Zinc produced ('000 lb) 963 1,125 1,987 1,883
Zinc sold ('000 lb) 889 1,279 1,627 1,541
Gold equivalent sold ('000 oz) (9) 23,903 25,997 53,002 52,396
Ore mined (kt) 299 475 372 1,102
Waste removed (kt) 1,939 1,592 4,078 2,681
Total material mined (kt) 2,238 2,067 4,450 3,783
Strip ratio 6.5 3.4 11.0 2.4
Ore milled (kt) 491 492 1,000 946
Silver mill feed grade (g/t) 111.15 186.62 111.65 182.38
Lead mill feed grade (%) 0.73 1.36 0.77 1.29
Zinc mill feed grade (%) 0.24 0.26 0.23 0.23
Silver mill recovery (%) 94.7 96.5 94.7 96.5
Lead mill recovery (%) 89.9 94.0 89.6 94.3
Zinc mill recovery (%) 36.7 39.6 38.4 39.6
Average realized silver price ($/oz sold) $ 74.24 $ 35.24 $ 83.88 $ 33.90
Cost of sales ($/oz silver sold) $ 28.77 $ 15.03 $ 27.20 $ 15.26
Cash costs ($/oz silver sold) (10) $ 22.30 $ 9.98 $ 21.03 $ 10.45
AISC ($/oz silver sold) (10) $ 29.52 $ 12.57 $ 26.02 $ 12.85
(9) Effective January 1, 2026, the Company calculates GEOs using a fixed silver-to-gold ratio of 63:1. In prior periods, GEOs were calculated multiplying the silver
ounces by the ratio of the silver price to the gold price, using the average closing commodity prices for the period. The Company does not include by-products in
the GEO calculations. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.
(10) The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna.
See “Cautionary Note Regarding Non -GAAP Financial Measures" at the end of this press release for an ex planation of these financial measures and a
reconciliation to cost of sales, which is the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.
SSR MINING | PAGE 8
Conference Call Information
This news release should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the quarter ended
June 30, 2026, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website at
www.sec.gov or www.ssrmining.com.
• Conference call and webcast: Tuesday, August 4, 2026, at 5:00 pm EDT.
Toll-free in U.S. and Canada: +1 (833) 752-3757
All other callers: +1 (412) 652-1234
For the webcast: ir.ssrmining.com/investors/events
• The webcast will be available on our website. Audio replay will be available for two weeks by dialing:
Toll-free in U.S. and Canada: +1 (855) 669-9658, replay code 3272681
All other callers: +1 (412) 317-0088, replay code 3272681
Dividend Declaration
On August 4, 2026 the Board of Directors declared a quarterly cash dividend of $0.03 per common share, payable on
September 11, 2026 to shareholders of record at the close of business on August 14, 2026.
This dividend is designated as an 'eligible dividend' for Canadian income tax purposes.
The dividend payment applies to holders of SSR Mining’s common shares, which trade on Nasdaq and the Toronto Stock
Exchange under the symbol SSRM. Payments to Canadian shareholders will be made in Canadian dollars based on the
exchange rate on the record date as reported by the Bank of Canada. Payments to other shareholders will be made in U.S.
dollars and will be subject to applicable withholding taxes.
About SSR Mining
SSR Mining Inc. is a free -cash-flow-focused gold and silver mining company and the third -largest gold producer in the
United States. SSR Mining has a diversified portfolio of operating, development and exploration assets across the Americas,
including four operating mines in the USA, Canada, and Argentina. In 2026, SSR Mining is expected to produce between
450,000 and 535,000 Gold Equivalent Ounces. The Company is headquartered in Denver, Colorado and is listed under the
ticker symbol SSRM on the Nasdaq Stock Market and the Toronto Stock Exchange.
For more information, please visit: www.ssrmining.com.
E-Mail: [email protected]
Phone: +1 (888) 338-0046