Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Silver Standard Resources — BMO Capital Markets 25th Global Metals & Mining Conference (March 2016)

37 slides from Ssr Mining's conference presentation, Mar 1, 2016

  1. Slide 1: Creating Value

    CREATING VALUE February 2016 Corporate Presentation

  2. Slide 2: Cautionary Notes

    Cautionary Notes Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively

  3. Slide 3: Why Silver Standard?

    Why Silver Standard? Strong Operating Performance & Free Cash Flow  Free cash flow ASSETS  Two large mines  Focused portfolio  $212M in cash  $88M in marketable CAPITAL securities  Strong balance sheet  Experienced team MANAGEMENT  In-country expertise  Deliver to plan Note: Cash and market

  4. Slide 4: 2015: A Year of Records

    2015: A Year of Records Record Production 207,006 oz gold and 10.3M oz silver Low Cash Costs $692/oz gold and record low $10.68/oz silver AISC lower year-on-year $895/oz gold, 25% lower, and $12.44/oz silver, 22% lower Free Cash Flow Increased cash balance to $212M, up by $27M Operating Cash Flow $9

  5. Slide 5: Record 2015 Production

    Record 2015 Production 98.9 350Koz 97.3 Gold Eq. Production in 2015 100 $926 93.2 $1,000 $906 82.6 $768 76.0 $723/oz 80.7 $746 Gold Equivalent Cash Costs ($/oz) $800 Gold Equivalent Production (Koz) 75 $765 53.7 $719 $702 Gold Eq. Cash Costs in 2015 $695 $600 50 $400 30.9 25 $200 25.4Moz Silver Eq.

  6. Slide 6: 2016 Guidance

    2016 Guidance Improved Marigold 2016 production and cash costs guidance Units Marigold Pirquitas Gold Production oz 200,000 – 210,000 – Silver production Moz – 8.0 – 10.0 Zinc production Mlb – 0.0 – 5.0 Cash costs per payable ounce sold $/oz $690 – $740 $10.50 – $12.50 Capital expenditures $M $32 $5

  7. Slide 7: Marigold: Growth in Nevada

    MARIGOLD GROWTH IN NEVADA SSRI:NASDAQ │SSO:TSX │February 2016 7

  8. Slide 8: Track Record of Growth and Performance

    Track Record of Growth and Performance  Open pit, run-of-mine heap leach gold operation  Continuous production since 1988  Strong safety and environmental practices  Excellent infrastructure Twin Creeks Goldstrike MARIGOLD Maverick Springs Phoenix  YE 2015: Produced record 207,006 oz Au at cash

  9. Slide 9: Improved 2016 Guidance at Marigold

    Improved 2016 Guidance at Marigold Gold Production 200,000oz – 210,000oz Cash costs per payable ounce sold $690/oz – $740/oz Capital expenditures $32M Capitalized stripping costs $30M  Production guidance is +20% higher in 2016 compared to 2014 Technical Report  Cash costs guidance is +15% lower i

  10. Slide 10: Invested for Increased Efficiency and Capacity

    Invested for Increased Efficiency and Capacity Increased Shovel Increased Hauling Capacity by over 100% Capacity to 80Mtpa in 2016 21 Trucks 3 Shovels 21 Trucks 18 Trucks 18 Trucks 12 Trucks 2 Shovels 2012 2014 2012 2014 2016 Realizing Efficiencies Operational Excellence is fundamental SSRI:NASDAQ │

  11. Slide 11: Top Quartile Loading Efficiency

    Top Quartile Loading Efficiency 8,000 Average tonnes loaded per hour 6,000 4,000 2,000 0 M1 M8 Marigold M17 M2 M2 M20 M10 M14 M21 M4 495HR 4100 XPB 4100 XPC 495HR 4100 XPB 495HR 495HR 4100 XPC 495HR 495HR 4100 XPB Lowering Costs High loading productivity drives efficiencies and lower costs Note: Mar

  12. Slide 12: Operational Excellence

    Operational Excellence Long-term Cost Savings $1.92 Mining cost per tonne $1.74 $1.70 $1.65 $1.61 $1.62 $1.57 $1.54 $1.48 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Lowering Costs Savings of 1₵ cost per tonne mined = $750,000 annually Notes: Annual savings of $750,000 based

  13. Slide 13: Investing in the Future

    Investing in the Future  Planned exploration expenditures of $4M in 2016  Complete assay program over life of mine  Resources to Reserves conversion drill program  Advance Valmy property exploration SSRI:NASDAQ │SSO:TSX │February 2016 13

  14. Slide 14: Assay Program

    Assay Program Increases Ore Zones Pit Outline as of Original Topography December 2015 Pit Outline at YE 2016 Pit Outline at YE 2019 Mineralized Ore as at December 2014 100 meters W E Notes: See news releases dated July 6, 2015 and February 25, 2016 for additional information on the Marigold assay pr

  15. Slide 15: Assay Program

    Assay Program Increases Contained Gold by 13% Pit Outline as of Original Topography December 2015 Pit Outline at YE 2016 Pit Outline at YE 2019 Mineralized Ore as at December 2014 Additional Ore Tonnage and Ounces 100 meters W E Notes: See news releases dated July 6, 2015 and February 25, 2016 for a

  16. Slide 16: Mineral Resource Discovery

    Mineral Resource Discovery Valmy and Mud Pits  Three new higher-grade mineralized 8SX HideOut centers discovered in last 15 months  8SX: 91.4 meters at 2.48 g/t Au A’ 8D  8D: 164.6 meters at 1.67 g/t Au A Terry Zone Basalt Pit  HideOut: 76.2 meters at 2.47 g/t Au 1 km N Reserve Pits 2015 Resourc

  17. Slide 17: Increased Mineral Resources

    Increased Mineral Resources 6.0 0.55 0.30 10% increase in Gold Mineral Resources 0.25 0.08 4.58 4.16 0.20 0.63 M+I Mineral 0.35 (million ounces) 4.0 Resources year-on-year Mineral 2.0 Resources based on $1,400/oz gold price, 0.0 compared to 2014 M+I Depletion Gold Price Drilling / Assay Basalt Pit 2

  18. Slide 18: Potential for Resource to Reserve Conversion

    Potential for Resource to Reserve Conversion Pit Outline as of December 2015 Original Topography (2) Reserve Pit 150 meters Resource Outline W E Resource Growth Mineral Resources increased to 4.58M oz Au in 2015 Note: Measured and Indicated Mineral Resources are inclusive of Mineral Reserves. Please

  19. Slide 19: Pirquitas: Large Open-Pit Silver Mine

    PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NASDAQ │SSO:TSX │February 2016 19

  20. Slide 20: Proven Capability and Delivery

    Proven Capability and Delivery Free cash flow in 2016  100% owned and operated silver and zinc mine  2010: Invested capital  2011/12: Delivered predictable production Pirquitas Mine  2013: Improved cost structure, completed push back Jujuy, Argentina Diablillos Project Salta, Argentina  2014: R

  21. Slide 21: Pirquitas Cash Costs Trending Down

    Pirquitas Cash Costs Trending Down $25 10.3 8.0 - 10.0 10 8.7 $19.70 8.6 $20 8.2 $16.88 8 Cash costs per payable Silver Production (Moz) ounce of silver sold 7.1 $15 $12.87 $10.50 - $12.50 6 $12.08 $10.68 $10 4 $5 2 $0 0 2011 2012 2013 2014 2015 Guidance 2016 Lowering Costs Achieved record low cash

  22. Slide 22: Chinchillas Project

    Chinchillas Project Potential to Extend Pirquitas Operating Life  Silver-zinc-lead deposit located 30 km from Pirquitas  +10,000 meters infill drilling completed in Q4 2015  61 meters at 673 g/t silver  50 meters at 637 g/t silver  38 meters at 278 g/t silver  $7.5M planned in 2016 for explora

  23. Slide 23: Pirquitas Underground

    Pirquitas Underground 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 silver  Co

  24. Slide 24: Properties, Projects and Production

    Properties, Projects and Production Over $570M Cash from Divestments 10 1 8 7 7. Candelaria 1. Marigold 11 8. Maverick 3 Springs 5. Diablillos 9 3. Pitarrilla 9. San Marcial 2. Pirquitas 6. Berenguela 4. San Luis 10. Sunrise Lake 4 6 11. Parral 2 5 SSRI:NASDAQ │SSO:TSX │February 2016 24

  25. Slide 25: San Luis Project

    San Luis Project High Grade Gold Development Option Ancash Region, Peru High grade mineralization with N M+I Mineral Resources of  9.0 Moz Ag at 578.1 g/t  0.35 Moz Au at 22.4 g/t Ecash Community Already Secured  EIA Ayelén Vein  Feasibility Study Going forward San Simon Vein  Pursuing communit

  26. Slide 26: Pitarrilla Project

    Pitarrilla Project  Development stage silver-lead-zinc deposit  Open pit / UG project with potential for long life Parral Mining District Chihuahua  Conventional flotation and leaching Pitarrilla Project Durango  526 Moz Ag Mineral Resources Mexico (Measured and Indicated)  Evaluating optimizat

  27. Slide 27: Why Silver Standard in 2016?

    Why Silver Standard in 2016? Produce +320,000 oz AuEq at $770/oz cash cost Maximize value of existing assets Acquire the next growth opportunity Maintain strong balance sheet Notes: Gold equivalent ounces have been established using $14.50/oz silver and $1,100/oz gold prices applied to the middle po

  28. Slide 28: Value & Growth

    Value & Growth SSRI:NASDAQ │SSO:TSX │February 2016 28

  29. Slide 29: Mineral Reserves

    Mineral Reserves (as at December 31, 2015) Mineral Reserves Location Tonnes Silver Gold Zinc Silver Gold millions g/t g/t % million oz million oz Proven Mineral Reserves San Luis Peru 0.06 604.5 28.3 1.1 0.05 Total 1.1 0.05 Probable Mineral Reserves Marigold U.S. 140.30 0.45 2.04 Marigold Leach Pad

  30. Slide 30: Mineral Resources: Measured and Indicated

    Mineral Resources: Measured and Indicated (as at December 31, 2015) Mineral Resources Location Tonnes Silver Gold Lead Zinc Copper Silver Gold millions g/t g/t % % % million oz million oz Measured Mineral Resources (Inclusive of Proven Mineral Reserves) Pitarrilla Mexico 10.13 91.7 29.8 San Luis Per

  31. Slide 31: Mineral Resources: Inferred

    Mineral Resources: Inferred (as at December 31, 2015) Mineral Resources Location Tonnes Silver Gold Lead Zinc Copper Silver Gold millions g/t g/t % % % million oz million oz Inferred Mineral Resources Marigold U.S. 38.80 0.44 0.55 Pirquitas Argentina 0.79 87.3 1.88 2.2 Pirquitas UG Argentina 0.94 20

  32. Slide 32: 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 NI 43-101. The estimates of Mineral Reserves and Mineral Resources for each property other than the Marigold mine have been reviewed and approved b

  33. Slide 33: Strong Technical and Commercial Experience

    Strong Technical and Commercial Experience Board of Directors Management Team Peter Tomsett Paul Benson Chairman President, CEO and Director Michael Anglin Gregory Martin SVP and CFO Paul Benson Alan Pangbourne Gustavo Herrero COO Beverlee Park John DeCooman VP, Business Development and Strategy Ric

  34. Slide 34: Relative Performance

    Ownership Summary Top 10 Shareholders % of Shares Outstanding Holdings by Investor Class Van Eck Value 7.1% Kopernik Global Investors 3.9% Renaissance Technologies 2.6% Investec Asset Management 2.6% Institutional Sun Valley Gold 2.4% 47% 53% Retail and Other Wells Capital Management 1.9% Sentry Sel

  35. Slide 35: Marigold Exploration Success

    Marigold Exploration Success Illustrative Cross Section through HideOut Center W E 485590 486090 Conceptual Pit Shell 1600 Rock Stockpile 61m at 0.1 g/t 1500 91m inter-burden 76m at 2.5 g/t 1400 Pre-Mining Gold (g/t) Surface <0.06 0.06 - 0.6 0.6 – 1.2 Illustrative Gold 485840 > 1.2 1300 Grade Model

  36. Slide 36: San Luis Project

    San Luis Project San Luis Feasibility Study Results (June 2010)  3.5-year life: Underground mine  Avg. annual 1.9M oz Ag production: 78,000 oz Au  Cash cost: $313 / oz Au  Resources (M+I): 9.0M oz Ag at 578.1 g/t 0.35M oz Au at 22.4 g/t  Capital: $90 -$100M  Mill throughput: 400 tpd  NPV: $39

  37. Slide 37: Silver Standard Resources Inc.

    Silver Standard Resources Inc. Website: www.silverstandard.com Email: invest@silverstandard.com Toll-free: 1.888.338.0046 Telephone: 1.604.689.3846

Silver Standard Resources — BMO Capital Markets 25th Global Metals & Mining Conference (March 2016) on 6ix