Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — CIBC Corporate Presentation January 2019

48 slides from Ssr Mining's conference presentation, Jan 15, 2019

  1. Slide 1: A Track Record of Creating Value

    A TRACK RECORD OF CREATING VALUE January 2019

  2. Slide 2: Cautionary Notes

    Cautionary Notes SSRM:NASDAQ/TSX PAGE 2

  3. Slide 3: Why SSR Mining?

    Why SSR Mining? A long-term track record of creating value Investor Challenges SSRM Investment Catalysts × Inconsistent operating performance  Achieved guidance seven straight years × Declining reserves  Track record of reserve growth × Declining production  Production growth +37% through 2021 ×

  4. Slide 4: Track Record of Growth and Decreasing Costs

    Track Record of Growth and Decreasing Costs Near-term production growth to +440,000 AuEq by 2021 500 $1,200 $1,000 400 Cash Cost ($/oz Gold-Equivalent) Gold-Equivalent Production (k oz) $800 300 $600 200 $400 100 $200 0 $0 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019E 2020E 2021E Puna Marigold Sea

  5. Slide 5: Track Record of Free Cash Flow Generation

    Track Record of Free Cash Flow Generation $500 Acquired $400 Acquired Seabee Marigold Cash and Cash Equivalents ($M) (all shares) (all cash) $300 $200 $100 $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018

  6. Slide 6: Track Record of Growing Net Asset Value Per Share

    Track Record of Growing Net Asset Value Per Share $13 $12 +58% $11 Net Asset Value ($/sh) $10 $9 $8 +6% $7 $6 $5 $4 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 SSR Mining Peer Index Notes: Peer index represents an equal weighted index, indexed to SSR Mining NAV per share beginning

  7. Slide 7: Track Record of Delivery

    Track Record of Delivery On-track for seventh-year of meeting or exceeding guidance Reliable trend of delivering more …at lower cash costs with less gold… variability 450 1,200 400 1,100 Gold-Equivalent Cash Costs ($/oz) Gold-Equivalent Production (K oz) 1,000 350 900 300 800 250 700 200 600 Product

  8. Slide 8: 2019 Production and Cash Costs Guidance

    2019 Production and Cash Costs Guidance Marigold Seabee Puna SSR Mining (75% interest) Gold Gold Silver Gold Equivalent Production 200K – 220K oz 95K – 110K oz 4.5M – 5.3M oz 350K – 395K oz Cash Costs $750/oz – $790/oz $525/oz – $555/oz $8.00/oz – $10.00/oz $670/oz – $730/oz (US$/oz) Mid-point Guida

  9. Slide 9: Highest Corporate Governance Rating Leads Peer Group

    Highest Corporate Governance Rating Leads Peer Group Depth of experience at senior management and Board level Source: FactSet and BMO Capital Markets as of August 22, 2018 and ISS as of December 1, 2018. SSRM:NASDAQ/TSX PAGE 9

  10. Slide 10: Marigold Mine

    MARIGOLD MINE GROWTH IN NEVADA

  11. Slide 11: Marigold: Large Scale, Low-Cost Producer

    Marigold: Large Scale, Low-Cost Producer  Open pit, run-of-mine heap leach gold operation  ~200,000 tonnes of material moved per day  Strong safety and environmental practices  Significant exploration upside Twin Creeks Goldstrike  10-year Mineral Reserves life with potential to extend MARIGOLD

  12. Slide 12: Transformation: Increased Production and Lower Costs

    Transformation: Increased Production and Lower Costs Production growth to +265,000 oz gold by 2021 Acquired the Marigold mine April 4, 2014 300 $1,000 266 266 $918 250 $770 $800 $837 225 $725E $781 207 205 210 202 205 $745 200Pre-Acquisition $691 Cash Costs ($ / oz gold) Mine Plan Gold Production (k

  13. Slide 13: Gold Mineral Reserves and Mineral Resources

    Marigold Mineral Reserves and Resources Increased Y-o-Y Mineral Reserves gold grade increased to 0.46 g/t 7 0.63 5.66 Gold Mineral Reserves and Mineral Resources 6 5 (million ounces) 4 0.36 3.19 2.84 (0.22) 0.21 3 2 1 0 2016 Depletion Model Exploration 2017 2017 M+I 2017 Reserves Assumptions Reserve

  14. Slide 14: Marigold: Exploration Success and Resource Conversion

    Marigold: Exploration Success and Resource Conversion 8N TZN 8S 8SX N Red HideOut Dot North Leach Pad Red Dot MUD Waste Valmy Mackay reserve pit outline Current mining area Basalt-Antler SSRM:NASDAQ/TSX PAGE 14

  15. Slide 15: Marigold: Exploration Success and Resource Conversion

    Marigold: Exploration Success and Resource Conversion TZN 8D 8S 8SX N Red HideOut Dot North Leach Pad A’ September 2017 Pit Surface Original Surface EOY 2017 Mackay EOY 2017 Resource Pit EOY 2017 Gold grade model Reserve Pit Shell Gold Grade (g/t) < 0.06 0.06 – 0.6 0.6 – 1.0 MRA6647 > 1.0 MRA6692 MR

  16. Slide 16: Growth Options with Potential Resource Conversion

    Growth Options with Potential Resource Conversion In 2019, evaluate mine fleet investment plan Technical Report Red Dot Conversion Scenario A: Scenario B: Scenario C: 2017 Reserve Expansion Extend Life Material Movement Mtpa +80 +110 +80 Life of Mine (active mining) years +10 10 - 15 10 - 15 Resourc

  17. Slide 17: Marigold: Opportunities

    Marigold: Opportunities  Continue to deliver production growth and robust operating margins  Additional hauling capacity and equipment replacement study  Mine-life extension through exploration at Mackay Valmy, Basalt and Red Dot  2019 exploration budget of $7.5M  Deep sulphide exploration SSRM

  18. Slide 18: Seabee Gold Operation

    SEABEE GOLD OPERATION HIGH-GRADE GOLD MINE

  19. Slide 19: Seabee: Overview

    Seabee: Overview High-margin underground operation in a stable jurisdiction  High-grade, underground mine in Saskatchewan, Canada  Strong safety and environmental practices  Large underexplored land position of +57,000 ha  2019 production and cost guidance  Gold production of 102,500 ounces  C

  20. Slide 20: Gold Mineral Reserves and Resources

    Seabee Mineral Reserves and Resources Increased Y-o-Y Mineral Reserves gold grade increased to 9.9 g/t 1,400 674 1,200 1,000 Gold Mineral Reserves and Resources 800 (thousand ounces) 681 600 166 437 361 92 400 200 0 2016 Depletion Exploration 2017 2017 M+I 2017 Reserves Reserves Resources Inferred R

  21. Slide 21: Fifth Consecutive Annual Production Record in 2018

    Fifth Consecutive Annual Production Record in 2018 140 $1,200 Acquired 120 120 the Seabee Gold Operation May 31, 2016 $1,000 108 $998 103 $954 100 96 $800 Cash Costs ($/oz gold) 84 77 Gold Production (k oz) 80 $757 75 $663 $600 63 $602 60 $548E $525 $540 50 $504 45 $442 $400 40 $200 20 0 $0 2012A 20

  22. Slide 22: Operational Excellence Driving Seabee Mill Improvements

    Operational Excellence Driving Seabee Mill Improvements Higher 2019 milling rates driven by increased UG mine capacity 1,500 1,400 1,300 Mill Mill test trial test trial 1,200 1,100 Mill Dry Tonnes per Day 1,000 Forest 900 fires 800 700 600 500 Decreased stope 400 production Jan-16 Apr-16 Jul-16 Oct-

  23. Slide 23: Seabee Positive Brownfields Exploration

    Seabee Positive Brownfields Exploration Focused on continued resource upgrades and mine life extension Santoy Gap (9A, 9B, 9C) Santoy 8A 0m Elev 3.2m at 32.2g/t (JOY-18-810) 2.6m at 27.5g/t (JOY-18-807) 4.1m at 17.0g/t (JOY-18-801) 4.8m at 12.0g/t (JOY-18-799) 2.7m at 18.4g/t (JOY-18-772) 10.7m at 3

  24. Slide 24: Large, Contiguous Land Package

    Large, Contiguous Land Package Testing +15km of sheer zone strike length 23,300 hectare land package at Seabee CRJ target Seabee Mine/mill Santoy 3 target airstrip & camp Santoy Mine Fisher exploration camp 34,000 hectare land package at Fisher Project (option agreement) 10 km All weather road Gold

  25. Slide 25: Seabee: Opportunities

    Seabee: Opportunities  Deliver on PEA expansion case to 1,050 tpd  Drive Operational Excellence initiatives  Evaluate 1,200 tpd sustained mill throughput  2019 exploration budget of $9M  Santoy Gap HW  Santoy 8A Seabee Gold Operation  Fisher Flin Flon Saskatoon  Focused on Mineral Resources

  26. Slide 26: Puna Operations

    PUNA OPERATIONS LARGE-SCALE SILVER PRODUCER

  27. Slide 27: Puna Operations Joint Venture

    Puna Operations Joint Venture Ramp-up in 2019 to steady-state silver production of +6Moz per year  SSR Mining is the JV operator with a 75% interest  JV includes Chinchillas, a silver-lead-zinc deposit, and the Pirquitas plant and facilities located 45 km away  Declared commercial production Dece

  28. Slide 28: Puna Ops: Delivering Silver Production Growth in 2019

    Puna Ops: Delivering Silver Production Growth in 2019 Significant LOM base metals exposure from lead and zinc 2019 Guidance Medium Term Outlook  Production: 8 $16 7.0 6.9 6.9 $14  Silver: 4.5M to 5.3M ounces Silver-Equivalent Production (M oz) Cash Cost ($/oz Silver-Equivalent) 6 $12  Lead: 15.0M

  29. Slide 29: Advancing the Las Chispas High-Grade Ag-Au Deposit

    Advancing the Las Chispas High-Grade Ag-Au Deposit SilverCrest Metals Inc. (TSXV - SIL)  Las Chispas (100%) is located in September 2018 Mineral Resources Estimate Sonora, Mexico Tonnes Au Ag AgEq (M) (g/t) (g/t) (g/t)  Robust mineral resource estimate Inferred 3.4 3.63 296 568  Exploration prosp

  30. Slide 30: Delivering Value and Growth for Our Shareholders

    Delivering Value and Growth for Our Shareholders  Reserve and Resource Update Near-term  Ramp up at Seabee to 1,050 tpd Investment  Marigold equipment replacement study Catalysts  Steady-state production at Puna Operations Production and  Production growth to +440,000 oz AuEq by 2021 Free Cash

  31. Slide 31: Value & Growth

    Value & Growth SSRM:NASDAQ/TSX PAGE 31

  32. Slide 32: SSRM Q3 2018 Summary

    SSRM Q3 2018 Summary Delivering growth and value for shareholders Q3 Units 2018  Increased gold equivalent production to Gold Sales oz 88,787 95,000 ounces at lower cash costs Silver Sales Moz 0.6  Seabee record production of 27,831 Total Gold Equivalent Sales oz 96,760 oz of gold at record cash c

  33. Slide 33: Selected Financial Results for 2016 and 2017

    Selected Financial Results for 2016 and 2017 Units 2017 2016 Gold Sales oz 286,279 254,761 Total Silver Sales Moz 6.0 11.4 Total Gold Equivalent Sales oz 367,950 408,860 Gold Equivalent Production oz 370,486 393,325 Revenue $M $448.8 $491.0 Income from Mine Operations $M $113.3 $154.0 Net Income $M

  34. Slide 34: SSR Mining Executive Team and Board of Directors

    SSR Mining Executive Team and Board of Directors Depth of experience and a top governance rating Paul Benson Nadine J. Block W. John DeCooman, Jr. Gregory J. Martin Kevin O’Kane President and CEO SVP, Human Resources SVP, Business Development SVP and CFO COO and Strategy Michael Anglin Brian Booth G

  35. Slide 35: Marigold Mine: Heap Leach Process

    Marigold Mine: Heap Leach Process  Once ore is loaded on the heap leach pad …  Average time to achieve primary recovery of +50% is 90 to 120 days  Average time to achieve overall recovery of 73% is seven to nine months  Most important factor to leach recovery time is loaded ore to ‘plastic’ dist

  36. Slide 36: Aerial View of Marigold Mine

    Aerial View of Marigold Mine SSRM:NASDAQ/TSX PAGE 36

  37. Slide 37: Seabee: Preliminary Economic Assessment

    Seabee: Preliminary Economic Assessment Expanded margins from higher throughput and grade  Increases mining rate by 21% to 1,050 tpd by 2019, compared to 2016  Mines 62% of Inferred Mineral Resources  Increases estimated LOM average gold production by 29% to 100,000 ounces per year (for the perio

  38. Slide 38: Seabee: PEA Financial Summary and Sensitivity Analysis

    Seabee: PEA Financial Summary and Sensitivity Analysis Cash Flows ($M) Pre-tax NPV (5%) Sensitivities ($M) Net Revenue $893.5 Gold Price ($/oz) Operating Costs $(346.0) $1,200 $1,300 $1,400 Royalties and Other $(28.5) 1.20:1 $289 $346 $403 Canadian Δ in Working Capital $10.3 Exchange 1.25:1 $307 $36

  39. Slide 39: Chinchillas Project Delivered On Budget / Schedule

    Chinchillas Project Delivered On Budget / Schedule Pre-stripping activities advancing as planned Stockpile dome construction complete Road by-passes operational Tailings pumping infrastructure SSRM:NASDAQ/TSX PAGE 39

  40. Slide 40: Chinchillas Project: Data Sheet

    Chinchillas Project: Data Sheet (100% Basis) Near-term Production with Positive Pre-Feasibility Results Mine life: 8 years N Total material mined: 66.6 M tonnes Strip ratio: 4.7 Processing rate: 4,000 tpd 6.1 Moz Silver Average annual 35.0 Mlb Lead production (8 years active mining): 12.3 Mlb Zinc 8

  41. Slide 41: San Luis Project and Pitarrilla Project

    San Luis Project: A unique high-grade gold reserve with exploration upside Pitarrilla Project: Large undeveloped silver resource San Luis Project Pitarrilla Project Feasibility Study Results (June 2010) Feasibility Study Results (December 2012) Mine life: 3.5 years Mine life: 32 years Average annual

  42. Slide 42: Mineral Reserves

    Mineral Reserves (as of December 31, 2017) SSRM SSRM Location Tonnes Silver Gold Lead Zinc SSRM Interest Interest % Silver Gold millions g/t g/t % % Interest million oz million oz Proven Mineral Reserves Seabee Canada 0.26 7.58 100 0.06 Chinchillas Argentina 1.64 180 0.75 0.42 75 7.1 Total 7.1 0.06

  43. Slide 43: Mineral Resources: Measured and Indicated

    Mineral Resources: Measured and Indicated (as of December 31, 2017) SSRM SSRM Location Tonnes Silver Gold Lead Zinc SSRM Interest Interest % Silver Gold millions g/t g/t % % Interest million oz million oz Measured Mineral Resources (Inclusive of Proven Mineral Reserves) Seabee Canada 0.57 9.29 100 0

  44. Slide 44: Mineral Resources: Inferred

    Mineral Resources: Inferred (as of December 31, 2017) SSRM SSRM Location Tonnes Silver Gold Lead Zinc SSRM Interest Interest % Silver Gold millions g/t g/t % % Interest million oz million oz Inferred Mineral Resources Marigold U.S. 49.70 0.41 100 0.63 Seabee Canada 2.26 9.29 100 0.67 Chinchillas Arg

  45. Slide 45: Reserves and Resources Notes to Tables

    Reserves and Resources Notes to Tables All estimates set forth in the Mineral Reserves and Mineral Resources table have been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The estimates of Mineral Reserves and Mineral Resources fo

  46. Slide 46: Notes

    Notes SSRM:NASDAQ/TSX PAGE 46

  47. Slide 47: SSR Mining Inc. Share Capital Structure and Top Shareholders

    SSR Mining Inc. Share capital structure, convertible note and top shareholders overview Top 10 Shareholders % of Shares Outstanding Institutional Holdings by Country Van Eck 15.1% Dimensional Fund Advisors, L.P. 5.2% United States Renaissance Technologies 4.8% Canada Investec Asset Management 3.0% U

  48. Slide 48: SSR Mining Inc.

    SSR Mining Inc. www.ssrmining.com Toll-free: +1 888.338.0046 Telephone: +1 604.689.3846 Email: invest@ssrmining.com

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