Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Conference Presentation (October 2018)

52 slides from Ssr Mining's conference presentation, October 2018

  1. Slide 1: A Track Record of Creating Value

    A TRACK RECORD OF CREATING VALUE October 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 Investor Challenges SSRM Investment Catalysts × Inconsistent operating performance  Met guidance six consecutive years × Declining reserves  Track record of reserve growth × Declining production  Production growth +40% through 2021 × Sing

  4. Slide 4: Track Record of Delivery

    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 Guida

  5. Slide 5: Strong Operating Platform in Favorable Jurisdictions

    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 oz

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

    Track Record of Growth and Decreasing Costs 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 2018E 2019E 2020E 2021E Puna Marigold Seabee Cash Costs Strong Outlook +41% increase in annual

  7. Slide 7: 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

  8. Slide 8: Track Record of Free Cash Flow Generation

    Track Record of Free Cash Flow Generation $500 $400 Acquired Acquired Seabee Cash and Cash Equivalents ($M) Marigold (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 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 20

  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  Proven management team focused on shareholder returns  Eight of nine Board members are non-executive, including Chairman  Strong shareholder protections through robust governance policie

  10. Slide 10: Track Record of Growing Net Asset Value Per Share

    Track Record of Growing Net Asset Value Per Share… $13 $12 $11 +68% Net Asset Value ($/sh) $10 $9 $8 $7 $6 -10% $5 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 SSR Mining Peer Index Notes: Peer index represents an equal weighted index, indexed to SSR Mining NAV per share beginning Decembe

  11. Slide 11: Through Disciplined M&A and Operational Excellence

    …Through Disciplined M+A and Operational Excellence $2.0 $1.8 Upside $1.6 Potential $1.4 $1.2 2x $ billions Portfolio value $1.0 more than $0.8 double acquisition cost $0.6 $0.4 $0.2 $0.0 Acquisition Portfolio Cost Value Free Cash Flow Marigold Seabee Chinchillas Notes: Acquisition Cost includes: ca

  12. Slide 12: SSR Mining

    SSR MINING Ks y : ! —— A ih

  13. Slide 13: 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  2018 mid-point guidance of 200,000 ounces gold  YTD 2018 gold production of 150,855 ounces Twin Creeks Goldstrike MARIGOLD Maverick

  14. Slide 14: Transformation: Increased Production and Lower Costs

    Transformation: Increased Production and Lower Costs Targeting +265,000 oz gold production by 2021 Pre-Acquisition Revised LOMP Expanded Mine Plan 2015/2016 Reserves and Fleet +150,000 oz Au +200,000 oz Au +265,000 oz Au by 2021 250 Gold Production (K oz) 200 150 100 50 0 2012A 2013A 2014A 2015A 201

  15. Slide 15: Marigold Mineral Reserves and Resources Increased Y-o-Y

    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

  16. Slide 16: 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 16

  17. Slide 17: 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 –

  18. Slide 18: 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

  19. Slide 19: 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

  20. Slide 20: Seabee Gold Operation

    SEABEE GOLD OPERATION HIGH-GRADE GOLD MINE

  21. Slide 21: 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  Produced a record 83,998 ounces of gold in 2017 at cash costs of $602 per

  22. Slide 22: Seabee Mineral Reserves and Resources Increased Y-o-Y

    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

  23. Slide 23: 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 60 $573 $525 $540 50 $504 45 $442 $400 40 $200 20 0 $0 2012A 2013A 2014A 2015A

  24. Slide 24: Operational Excellence Driving Seabee Mill Improvements

    Operational Excellence Driving Seabee Mill Improvements Step-change tonnage improvements since acquisition 1,500 1,400 1,300 1,200 1,100 Mill Dry Tonnes per Day 1,000 900 800 700 600 500 400 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 SSRM:NASDAQ/TSX PAGE 24

  25. Slide 25: 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

  26. Slide 26: Large, Contiguous Land Package

    Large, Contiguous Land Package 23,300 hectare land package at Seabee Carr target 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 occurrence Santoy shear zone S

  27. Slide 27: Seabee: Opportunities

    Seabee: Opportunities  Deliver on PEA expansion case to 1,050 tpd  Drive Operational Excellence initiatives  Evaluate 1,200 tpd sustained mill throughput  80% increase in exploration to $9M in 2018  Santoy Gap Hanging Wall  Carr, CRJ and Santoy 3 targets Seabee Gold Operation  Fisher extensio

  28. Slide 28: Puna Operations

    PUNA OPERATIONS LARGE-SCALE SILVER PRODUCER

  29. Slide 29: 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

  30. Slide 30: Puna Operations: Near Term Growth by 2019

    Puna Operations: Near Term Growth by 2019 Significant LOM base metals exposure from lead and zinc 2018 Guidance Medium Term Outlook  Production: 8 $16 6.9 6.9 6.8 $14  Silver: 2.3M to 3.3M ounces Silver-Equivalent Production (M oz) Cash Cost ($/oz Silver-Equivalent) 6 $12  Lead: 5.3M to 9.4M lbs

  31. Slide 31: Chinchillas Project Development On Track

    Chinchillas Project Development On Track  Chinchillas site earthworks complete, other construction well advanced  Pre-stripping of approximately 4.2M tonnes through end Q3 2018  Produced saleable lead-silver and zinc concentrates from Q3 2018 trials  Sustainable ore delivery to the Pirquitas mil

  32. Slide 32: Portfolio Rationalization

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

  33. Slide 33: SSR Mining Inc.

    SSR Mining Inc. Delivering value and growth for our shareholders Production and  Q2 2018 produced 85,082 gold equivalent ounces at Free Cash Flow $758/oz cash costs Growth  Production growth to +440,000 oz AuEq by 2021 Near-term  Ramp up at Seabee to 1,050 tpd in 2019 Investment  Marigold equipm

  34. Slide 34: Value & Growth

    Value & Growth SSRM:NASDAQ/TSX PAGE 34

  35. Slide 35: 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 – $750/oz $560/oz – $585/oz $12.50/oz – $15.00/oz $705/oz – $750/oz (US$/oz) Mid-point Guida

  36. Slide 36: SSRM Q2 2018 Summary

    SSRM Q2 2018 Summary Delivering Growth and Value for Shareholders  Increased gold equivalent production to +85,000 ounces at cash costs of $758/oz  Growth in earnings and cash flow  Delivered updated Marigold life of mine plan confirming near-term growth  Lowered 2018 cash cost guidance at Marig

  37. Slide 37: 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 VP, Human Resources VP, Business Development SVP and CFO COO and Strategy Michael Anglin Brian Booth Gus

  38. Slide 38: Creating Value with Operational Excellence

    Creating Value with Operational Excellence Innovation and real time data drive proactive decision-making Final DRILL + BLAST Blast LOAD HAUL DUMP + LEACH Product  Maximizing value from each process in the value chain  Cloud-based data for easy access  Real-time dynamic data and 24/7 performance m

  39. Slide 39: 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

  40. Slide 40: Aerial View of Marigold Mine

    Aerial View of Marigold Mine SSRM:NASDAQ/TSX PAGE 40

  41. Slide 41: 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

  42. Slide 42: 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

  43. Slide 43: 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

  44. Slide 44: 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

  45. Slide 45: Pirquitas Underground Opportunity

    Pirquitas Underground Opportunity Focused on Mine Life Extension  Potential small-scale, high-grade ore feed from the Chocaya, Oploca and Pirquitas Cortaderas veins open pit (mined out Jan 2017)  Positive drill results from 2015 drill program:  3.16 meters at 1,436 g/t silver  1.93 meters at 1,8

  46. Slide 46: 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

  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. Share Capital Structure and Relative Performance

    SSR Mining Inc. Share capital structure, convertible note and top shareholders overview Top 10 Shareholders % of Shares Outstanding Institutional Holdings by Country Van Eck 14.1% Dimensional Fund Advisors, L.P. 15% 4.8% United States Renaissance Technologies 4.8% 9% Canada Sun Valley Gold 3.0% Unit

  52. Slide 52: 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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