Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — BMO Capital Markets 27th Global Metals & Mining Conference 2018

54 slides from Ssr Mining's conference presentation, Feb 27, 2018

  1. Slide 1: A Track Record of Creating Value

    A TRACK RECORD OF CREATING VALUE February 2018

  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 Strong platform in favorable 1 jurisdictions Track record of creating Track record 6 2 shareholder of delivery value Leveraged to Track record gold with of growth and 5 3 attractive decreasing liquidity Track record costs of free cash flow 4

  4. Slide 4: Strong Operating Platform in Favorable Jurisdictions

    1 Strong Operating Platform in Favorable Jurisdictions +8 year mine life expected at all three operations Marigold Seabee Puna Nevada: Saskatchewan: Argentina: Favorable #3 ranked #2 ranked +10 year operating Jurisdictions globally globally history 73K Diversified oz AuEq 202K Production oz Au 84K o

  5. Slide 5: Track Record of Delivery

    2 Track Record of Delivery Six-year history 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 Production Gui

  6. Slide 6: Track Record of Growth and Decreasing Costs

    3 Track Record of Growth and Decreasing Costs 500 $1,200 $1,000 400 Gold-Equivalent Cash Costs ($/oz) Gold-Equivalent Production (K oz) $800 300 $600 200 $400 100 $200 0 $0 2012A 2013A 2014A 2015A 2016A 2017A 2018E 2019E 2020E 2021E Puna Marigold Seabee Cash Costs Strong Outlook +27% near-term incre

  7. Slide 7: Track Record of Free Cash Flow Generation

    4 Track Record of Free Cash Flow Generation $500 $400 Acquired Acquired Marigold Seabee Cash and Cash Equivalents ($M) for $268M (all shares) in cash $300 $200 $100 $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 Ops

  8. Slide 8: Leveraged to Gold with Attractive Trading Liquidity

    5 Leveraged to Gold with Attractive Trading Liquidity 2.78 2.70 2.70 2.57 2.56 2.25 2.12 2.12 Beta to Gold Price 2.08 2.03 1.93 1.91 1.88 SSR Coeur McEwen B2Gold Fortuna Detour Hecla New Gold Torex Eldorado Tahoe Klondex Oceana Mining 2.3% 2.2% Daily Volume (% of shares out) 1.9% 1.3% 1.3% 1.2% 1.1%

  9. Slide 9: Track Record of Creating Net Asset Value Per Share

    6 Track Record of Creating Net Asset Value Per Share 12 11 +61% 10 Net Asset Value ($/sh) 9 8 7 +1% 6 5 4 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 SSR Mining Peer Index Creating Value Operational Excellence and disciplined M+A are key differentiators Notes: Peer index represents an equal wei

  10. Slide 10: 2018 Production and Cash Costs Guidance

    2018 Production and Cash Costs Guidance Marigold Seabee Puna SSR Mining (75% interest) Gold Gold Silver Gold Equivalent Production 190K – 210K oz 85K – 92K oz 2.3M – 3.3M oz 305K – 345K oz Cash Costs $725/oz – $775/oz $560/oz – $610/oz $12.50/oz – $15.00/oz $705/oz – $760/oz (US$/oz) Mid-point Guida

  11. Slide 11: Marigold Mine Update

    MARIGOLD MINE UPDATE GROWTH IN NEVADA

  12. Slide 12: Marigold: Operating Outlook

    Marigold: Operating Outlook 2018 2019 2020 2021 Gold production (Koz) 190 – 210 225 – 235 205 – 215 230 – 240 Cash costs ($/oz) $725 – $775 $740 – $790 $660 – $710 $550 – $600 Capital investment ($M) $57 $25 $20 $25 Capitalized deferred stripping ($M) $15 $15 $30 $70 Expanding Margins Forecast avg.

  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’ EOY 2017 EOY 2017 February 2018 Original Gold Grade Mackay Pit Surface A Surface Model Reserve Pit EOY 2017 Resource Pit Shell Gold Grade (g/t) < 0.06 MRA6461 0.06 – 0.6 35.1 m at 0.86 g/t 0.6 –

  16. Slide 16: Marigold: Equipment Replacement Study

    Marigold: Equipment Replacement Study In 2019, evaluate mine fleet investment plan  Scenario A: Replace existing mine fleet with like-for-like equipment consistent with current life of mine plan  Scenario B: Expand mine fleet with additional rope shovel, haul trucks and related support gear potent

  17. Slide 17: Marigold: Opportunities

    Marigold: Opportunities  Continue to deliver robust operating margins  Additional hauling capacity and equipment replacement study  Mine-life extension through exploration at Valmy, East Basalt and Red Dot  2018 exploration budget of $9M, 80% increase from 2017  Deep sulphide exploration SSRM:N

  18. Slide 18: Seabee Gold Operation Update

    SEABEE GOLD OPERATION UPDATE HIGH GRADE GOLD MINE

  19. Slide 19: Seabee Mineral Reserves Increased 21% Y-o-Y

    Seabee Mineral Reserves Increased 21% Y-o-Y Gold grade increased to 9.9 g/t 500 166 437 400 361 (92) Gold Mineral Reserves (thousand ounces) 300 200 100 0 2016 Depletion Exploration 2017 Reserves Reserves Notes: Mineral Reserves are based on $1,250/oz gold price assumption. Gold Proven and Probable

  20. Slide 20: Seabee Mineral Resources Increased 19% Y-o-Y

    Seabee Mineral Resources Increased 19% Y-o-Y 674 1,200 Gold Mineral Resources (thousand ounces) 800 199 681 574 (92) 400 0 2016 M+I Depletion Exploration 2017 M+I 2017 Resources Resources Inferred Resources Notes: Measured and Indicated Mineral Resources are inclusive of Mineral Reserves. Mineral Re

  21. Slide 21: Increasing Production at Lower Costs

    Increasing Production at Lower Costs 140 $1,200 Acquired 120 120 the Seabee Gold Operation May 31, 2016 $1,000 108 $998 $954 100 100 89 $800 Cash Costs ($/oz gold) 84 77 Gold Production (k oz) 80 $757 75 $663 $600 63 $602 $585 60 $525 $540 50 $504 45 $442 $400 40 $200 20 0 $0 2012A 2013A 2014A 2015A

  22. Slide 22: Operational Excellence Driving Seabee Mill Improvements

    Operational Excellence Driving Seabee Mill Improvements Step-change tonnage improvements since acquisition 1,200 1,100 Mill test trials 1,000 Forest fires Mill Dry Tonnes per Day 900 800 700 Decreased stope production 600 500 400 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17

  23. Slide 23: Year End 2017 Santoy Mineral Resources

    Year End 2017 Santoy Mineral Resources Santoy Gap (9A, 9B, 9C) Santoy 8A 0m Elev 1.3m at 14.4g/t 5.8m at 6.4g/t (SUG-17-047) (SUG-17-042) 2.1m at 52.8g/t (JOY-16-701) Gap HW 9.9m at 8.2g/t (JOY-16-749) 2.8m at 26.6g/t (SUG-17-300) -400m Elev 2.1m at 10.8g/t 5.5m at 12.4g/t (SUG-17-919) 6.3m at 7.43g

  24. Slide 24: Large, Contiguous Land Package

    Large, Contiguous Land Package 23,300 Hectare land package at Seabee Carr target Seabee Mine/Mill Airstrip & camp Santoy Mine Fisher Exploration Camp 34,000 Hectare land package at Fisher Project (option agreement) 10 km All weather road Gold occurrence Santoy shear zone SSRM:NASDAQ/TSX PAGE 24

  25. Slide 25: Seabee: Opportunities

    Seabee: Opportunities  Deliver on PEA expansion case to 1,050 tpd  Drive Operational Excellence initiatives  Evaluate sustained milling throughput of 1,200 tpd  80% increase in exploration budget to $9M in 2018  Santoy Gap Hanging Wall  Carr target Seabee Gold Operation Flin Flon  Fisher exte

  26. Slide 26: Puna Operations Update

    PUNA OPERATIONS UPDATE LARGE-SCALE SILVER PRODUCER

  27. Slide 27: Puna Operations: Near-Term Production Growth by 2019

    Puna Operations: Near-Term Production Growth by 2019 Significant LOM silver exposure and base metals by-product credit 8 $16 $14.48 6.8 6.9 6.9 $14 7% $12.19 Zinc 6 $12 Silver-Equivalent Cash Costs ($/oz) Silver Equivalent Production (Moz) 21% $11.09 $10 Lead $10.16 72% 4 $8 Silver 3.4 $6 2 $4 $2 0

  28. Slide 28: Puna Operations Looking ahead to 2018

    Puna Operations Looking ahead to 2018  Chinchillas: ‘brownfields-like’ development for near-term production growth  Chinchillas Environmental Impact Assessment approved December 2017  Construction initiated at Chinchillas Q1 2018  First ore production expected H2 2018  2018 operating guidance (

  29. Slide 29: Portfolio Rationalization

    Portfolio Rationalization Maximizing value of portfolio with property sales 10 2 7 8. Maverick Springs 1 8 Brucejack 9. San Marcial 1. Marigold 7. Amisk Snowfield 2. Seabee 9 (Pretium) 5. San Luis 6 10. Sunrise Lake 3. Puna Operations Berenguela (Chinchillas) Diablillos Candelaria 4. Puna Operations

  30. Slide 30: SSR Mining Inc. Delivering value and growth for our shareholders

    SSR Mining Inc. Delivering value and growth for our shareholders  Met or exceeded production guidance six consecutive years Production and Free Cash Flow  Production growth to +410,000 oz AuEq by 2021 Growth  First ore production at Chinchillas H2 2018  Ramp up at Seabee to 1,050 tpd in 2019 Nea

  31. Slide 31: Value & Growth

    Value & Growth SSRM:NASDAQ/TSX PAGE 31

  32. Slide 32: Marigold: Large Scale, Low-Cost Producer

    Marigold: Large Scale, Low-Cost Producer  Open pit, run-of-mine heap leach gold operation  Produced 202,240 ounces of gold in 2017 at cash costs of $647 per ounce  Q4 gold production of 52,768 ounces Twin Creeks Goldstrike  ~200,000 tonnes of material moved per day MARIGOLD Maverick Springs Phoe

  33. Slide 33: 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

  34. Slide 34: 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  Mill operated at 905 tpd in 2017, including record throughput of 970 tpd

  35. Slide 35: Seabee: Value Creation Opportunity

    Seabee: Value Creation Opportunity Seabee Island Gold Lamaque Nevada Operations (SSR Mining) (Alamos Gold) (Eldorado Gold) (Klondex Mines)⁴ Average Mill Throughput (tpd) 1,050 1,100 1,675 899 Average Milled Grade (g/t) 8.3 9.7 7.0 17.2 Mine Life (years) 7 8 10 n.a. Gold Recovery (%) 96.5% 96.5% 93.6

  36. Slide 36: 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

  37. Slide 37: 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

  38. Slide 38: Seabee: PEA Capital Cost Summary

    Seabee: PEA Capital Cost Summary PEA Outlines a seven-year mine plan  Utilizes current infrastructure to reduce infrastructure capital of $50M through 2022  Capitalized development totals $23M through seven-year outlook  Capitalized exploration of $16M to convert Mineral Resources 2018 2019 2020

  39. Slide 39: Seabee: PEA Operating Cost Summary

    Seabee: PEA Operating Cost Summary By process and by cost category (life of mine) $/tonne milled Mine G&A Operations 40% 45% Mining 1 $58 Processing $20 Processing 15% G&A $52 Other Site Costs 13% Fuel Total $130 6% Labour Power 38% 7% Consumables 15% Note: Total estimated operating costs in the Sea

  40. Slide 40: Carr Exploration Target

    Carr Exploration Target Similarities to Santoy emerging  Long section looking west with vertical projection of intercepts on the 50 degree dipping inclined (plane dips to the east) South CAR-17-014 CAR-16-003 SAN-97-004 North _0m 31.64 g/t over 1.10 m 6.28 g/t over 1.50 m 9.03 g/t over 2.47 m CAR-1

  41. Slide 41: Fisher Project: Exploration Overview

    Fisher Project: Exploration Overview  Extension of the Pine Lake Greenstone Belt and the Santoy Shear  Four-year option agreement to earn up to 80% Santoy Mine  Work completed in 2017  Geochemistry (soils and till)  Structural mapping  Prospecting  Drone-based magnetic survey Santoy Shear  D

  42. Slide 42: Puna Operations Joint Venture

    Puna Operations Joint Venture Brownfields development for Pirquitas operating life extension  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  Chinchillas construction initiated Q1 20

  43. Slide 43: 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

  44. Slide 44: Pirquitas Underground Opportunity

    Pirquitas Underground Opportunity Focused on Mine Life Extension  Potential small-scale, high-grade ore feed from the Chocaya, Oploca and Cortaderas veins  Positive drill results from 2015 drill program:  3.16 meters at 1,436 g/t silver  1.93 meters at 1,890 g/t silver  0.83 meters at 2,670 g/t

  45. Slide 45: SIB Project

    SIB Project Under-explored, high-grade gold-silver target in a prolific district  Precious-metals-enriched VMS target Eskay Creek Generalized Section similar to the Eskay Creek mine A A’  SIB property past drilling  Lulu Zone 14 meters at 14.4 g/t Au and 1,060 g/t Ag  Extension below a fault  2

  46. Slide 46: San Luis 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

  47. Slide 47: 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

  48. Slide 48: 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

  49. Slide 49: 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

  50. Slide 50: 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

  51. Slide 51: SSR Mining Inc. Strong governance rating

    SSR Mining Inc. Strong governance rating Source: FactSet, ISS and BMO Capital Markets as of August 25, 2017. SSRM:NASDAQ/TSX PAGE 51

  52. Slide 52: 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 Alan N. Pangbourne President and CEO VP, Human Resources VP, Business Development SVP and CFO COO and Strategy Michael Anglin Brian Boo

  53. Slide 53: Share capital structure, convertible note and top shareholders overview

    SSR Mining Inc. Share capital structure, convertible note and top shareholders overview Top 10 Shareholders % of Shares Outstanding Institutional Holdings by Country Van Eck 12.0% 15% Renaissance Technologies 4.3% United States Sun Valley Gold 3.2% 11% Canada Investec Asset Management 2.6% United Ki

  54. Slide 54: SSR Mining Inc.

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

SSR Mining — BMO Capital Markets 27th Global Metals & Mining Conference 2018 on 6ix