Announcement Date: 2022-11-14
Announcement Type: Pre-Feasibility Study
Announcement Code: NI43-101
Company name: Aris Mining Corp.
Project name: Marmato
Location: Colombia
Commodities: Gold
Highlight: Pre-Feasibility Study result incl. Post Tax NPV (5%) of USD $341M & IRR of 29.7%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, Canada, November 14, 2022 – Aris Mining Corporation (“Aris Mining” or the “Company”) (TSX: ARIS; OTCQX: TPRFF) announces updated mineral resource and reserve estimates and a Preliminary Feasibility Study (“PFS”) for the Marmato expansion project, effective June 30, 2022 (the “2022 PFS”), which includes significant growth and refinement over the PFS completed in March 2020 (the “2020 PFS”). Neil Woodyer, CEO of Aris Mining, commented: “We are very pleased with the results of the 2022 PFS which includes an updated Marmato Lower Mine construction capital estimate of $280 million, that will be partially funded from $122 million of remaining committed stream financing, for a net construction funding amount of $158 million. Compared to the 2020 PFS, we have increased measured and indicated mineral resources by 47% to 6.0 million ounces of gold, the mineral reserves by 57% to 3.2 million ounces, and, at the base case $1,600 gold price, the project NPV5% is $341 million and the project IRR is 30%. Following construction of the new Lower Mine and based on the current mineral reserve, the Marmato mine is expected to deliver average production of 162,000 ounces per year over a nearly 20-year mine life at AISC of US$1,0031 /oz, as shown in Figure 1. “We are nearing completion of the process to amend the existing environmental permits at Marmato to facilitate the expansion, and we plan to quickly enter
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