Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Silver Standard Resources — Investor Presentation (January 2017)

42 slides from Ssr Mining's investor presentation, Jan 13, 2017

  1. Slide 1: Creating Value: January 2017 Corporate Presentation

    CREATING VALUE January 2017 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, “f

  3. Slide 3: High-Quality Intermediate Precious Metals Producer

    High-Quality Intermediate Precious Metals Producer Production  Three mining operations with prospective land positions Growth and Scale  Produced record 393,325 oz AuEq in 2016 Generating  Operating cash flow of $97M YTD (at Q3 2016) Free Cash  Net income of $53M YTD (at Q3 2016) Flow  Drilling

  4. Slide 4: Delivering Scale and Margin

    Delivering Scale and Margin Expanding Margins Enhance Financial Strength and Flexibility 112.6 110.1 $1,200 98.9 97.3 97.8 100 93.2 and Realized Gold Price (green) ($/oz) Gold Equivalent Cash Costs (orange) 83.7 $1,000 80.7 82.6 Gold Equivalent Production (Koz) 76.0 75 $926 $906 $800 393Koz $768 $76

  5. Slide 5: 2017 Guidance

    2017 Guidance Production and Cash Costs Marigold Seabee Pirquitas Silver Standard Gold Gold Silver Gold Equivalent Production 205K – 215K oz 72K – 82K oz 4.5M – 5.5M oz 340K – 370K oz Cash Costs $655/oz – $705/oz $575/oz – $625/oz $13.50/oz – $16.00/oz $700/oz – $770/oz (US$/oz) Mid-point 355,000 oz

  6. Slide 6: Marigold: Growth in Nevada

    MARIGOLD GROWTH IN NEVADA SSRI:NASDAQ │SSO:TSX │ January 2017 6

  7. Slide 7: Track Record of Performance and Growth

    Track Record of Performance and Growth  Open pit, run-of-mine heap leach gold operation  Continuous production since 1988  Strong safety and environmental practices Twin Creeks Goldstrike MARIGOLD Maverick  Excellent infrastructure Phoenix Springs Cortez Carlin Trend  205,116 oz Au production i

  8. Slide 8: Marigold Operating Outlook

    Marigold Operating Outlook 2017 2018 2019 2020 2021 Gold production (Koz) 205 – 215 200 – 210 225 – 235 205 – 215 230 – 240 Cash costs ($/oz) $655 – $705 $830 – $880 $740 – $790 $660 – $710 $550 – $600 Capital investment ($M) $30 $35 $25 $20 $25 Capitalized deferred $17 $15 $15 $30 $70 stripping ($M

  9. Slide 9: Expanded Margins: Increased Production and Reduced Cash Costs

    Expanded Margins Increased Production and Reduced Cash Costs 250 Gold Production (Koz) 200 150 100 50 0 2017 2018 2019 2020 2021 2016 Production and Cash Costs Outlook 2014 Technical Report $900 Cash Costs ($/oz) $800 $700 $600 $500 2017 2018 2019 2020 2021 Notes: Please refer to our news release da

  10. Slide 10: Lower Operating Cost Profile

    Lower Operating Cost Profile Focus and Discipline for Long Term Value $9.00 Operating Costs 8% ($/tonne ore) 13% 8% $6.00 13% Mining Costs 79% $3.00 Processing Costs 79% G&A Costs $0.00 2014 Technical Report 2016 5-year Outlook Labor Labor Other 29% Other 31% 40% 42% Fuel Royalties 17% Fuel 15% Roya

  11. Slide 11: Creating Value with Operational Excellence

    Creating Value with Operational Excellence DRILL BLAST LOAD HAUL Reduced drills to four Improved blasting pattern / Used most effective shovel Implemented a ‘hot shift from six products and loading operator to train others change’ for truck operators sequence Cost per Foot Drilled Total Blasting Cos

  12. Slide 12: Operational Excellence is Fundamental: Mining Cost per Tonne

    Operational Excellence is Fundamental Long-term Cost Savings $1.92 $1.74 Mining Cost per Tonne $1.70 $1.65 $1.62 $1.61 $1.57 $1.55 $1.54 $1.48 $1.48 $1.45 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Lowering Costs Savings of 1¢ cost per tonne mined =

  13. Slide 13: Exploration Success and Resource Conversion

    Exploration Success and Resource Conversion N 8N 8D 8SX HideOut Valmy and Mud Pits A’ Reserve Pits 2015 Resource Additions A 2016 Drill Areas Deep Core Holes Basalt Pit 1 km Terry Zone Valmy Pit Valmy Pit Higher-grade discoveries since 2014  8SX: 91.4 m at 2.48 g/t Au  8D: 164.6 m at 1.67 g/t Au 

  14. Slide 14: Seabee Gold Operation: High-Grade Gold Mine

    SEABEE GOLD OPERATION HIGH-GRADE GOLD MINE SSRI:NASDAQ │SSO:TSX │ January 2017 14

  15. Slide 15: Seabee Gold Operation Overview

    Seabee Gold Operation Overview High-margin Underground Operation in a Stable Jurisdiction  High-grade, underground mine in Saskatchewan, Canada  Mill operating since 1991 with current capacity of 900 tpd  Strong safety and environmental practices  77,640 oz Au record production in 2016  39,853

  16. Slide 16: Improved Operating Profile

    Improved Operating Profile Higher Gold Grade and Lower Costs with Santoy Discovery 100 $954 $1,000 72 - 82 78 76 75 $757 $800 Production (Koz Au) Cash Cost ($/oz Au) 63 $610 - $640 $575 - $625 $525 $600 50 44 $400 25 $200 0 $0 2013 2014 2015 2016 2017 Guidance Notes: 2016 cash costs guidance of $610

  17. Slide 17: Well-Positioned for Discovery with $5M Spend in 2017

    Well-Positioned for Discovery with $5M Spend in 2017 ~25 km Underexplored Total exploration spend from 2013 to 2015 of $2.5 million Notes: Exploration spend for Claude Resources includes actual spend in 2013, 2014, and 2015. SSRI:NASDAQ │SSO:TSX │ January 2017 17

  18. Slide 18: Santoy Mine Complex: Key Value Driver

    Santoy Mine Complex: Key Value Driver Focus on Resource Addition and Conversion 8A area Santoy Gap (9A, 9B, 9C) 52.8g/t at 2.1m 4.0m at 20.1g/t 2.7m at 27.3g/t 1.7m at 23.5g/t 5.8m at 27.9g/t 6.0m at 15.4g/t 4.9m at 28.6g/t 2.7m at 39.1g/t 8A area 4.1m at 33.8g/t 2016 YTD Santoy Gap 9A, 9B & 9C and

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

    PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NASDAQ │SSO:TSX │ January 2017 19

  20. Slide 20: Proven Capability and Delivery

    Proven Capability and Delivery Free Cash Flow in 2016  100%-owned and operated open pit silver mine  In commercial production since 2009  Good safety record and solid stakeholder relations  Improved flotation plant processes: +5,000 tpd in Q4 2016 Pirquitas Mine Jujuy, Argentina  10.4M oz Ag re

  21. Slide 21: Pirquitas Cash Costs Trending Down

    Pirquitas Cash Costs Trending Down Lowered 2016 Cash Costs Guidance $19.70 Cash costs per payable $16.88 ounce of silver sold $12.87 $12.08 $10.68 $9.00 - $9.50 $8.93 $8.87 $8.48 2011 2012 2013 2014 2015 Q1 2016 Q2 2016 Q3 2016 2016 Guidance Lowering Costs Achieved record low cash costs again Q3 201

  22. Slide 22: Chinchillas Project

    Chinchillas Project Potential to Extend Pirquitas Operating Life  Silver-lead-zinc deposit located 30 km from Pirquitas mine  +15,000 meters resource infill drilling completed since Q4 2015  49 meters at 673 g/t silver  30 meters at 637 g/t silver  66 meters at 278 g/t silver  Option to evalua

  23. Slide 23: Chinchillas Mineral Resources

    Chinchillas Mineral Resources Potential to Extend Pirquitas Operating Life Chinchillas Indicated Mineral Resources Cut-off AgEq Ag Pb Zn AgEq Ag Pb Zn Mt AgEq (g/t) (g/t) (g/t) (%) (%) (Moz) (Moz) (Mlbs) (Mlbs) 45 34.2 142 91 0.82 0.57 155 100 618 431 90 21.9 183 123 1.06 0.62 129 86 510 301 110 17.

  24. Slide 24: 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  To

  25. Slide 25: Perdito Project

    Perdito Project High-grade, Carlin-type Sediment-hosted Gold Deposit in California  Multiple, ready-to-drill targets  $1M for drilling and field work in 2017; drill program planned for Q1 2017  Gold grades of up to 10.9 g/t confirmed by duplicate surface sampling  Large land package of 5,780 hec

  26. Slide 26: Properties, Projects and Production

    Properties, Projects and Production Over $570M Cash from Divestments since 2010 11 2 7 1 9 8 8. Candelaria 1. Marigold 10 4. San Luis 5 7. Amisk 9. Maverick Springs 2. Seabee 3. Pirquitas 6. Berenguela 10. San Marcial 5. Pitarrilla 4 6 11. Sunrise Lake 3 Maximizing Value Streamlining portfolio with

  27. Slide 27: Delivering Long-Term Value for our Shareholders

    Delivering Long-Term Value for our Shareholders Portfolio Strength for … … Scale and Quality  Acquired Seabee Gold Operation  Three precious metals mines located in the Americas  Achieved 393,325 oz AuEq record  Producing 340,000 to 370,000 oz annual production in 2016 AuEq at $735/oz cash costs

  28. Slide 28: Value & Growth

    Value & Growth SSRI:NASDAQ │SSO:TSX │ January 2017 28

  29. Slide 29: San Luis Project

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

  30. Slide 30: Pitarrilla Project

    Pitarrilla Project Large Mineral Resource Development Option  Development stage silver-lead-zinc deposit  Open pit / UG project with potential for long life  Conventional flotation and leaching Pitarrilla Project Durango, Mexico  Measured and Indicated Mineral Resources  Open pit: 497M oz Ag at

  31. Slide 31: Q3 2016 Highlights

    Q3 2016 Highlights A Quarter of Records Record Quarterly Production 112,559 oz AuEq, 15% higher Q-on-Q (pro-forma 2016) Low Cash Costs $618/oz AuEq, 8% lower Q-on-Q Free Cash Flow Increased cash balance to $278M, up by $45M Operating Cash Flow $62.8M cash generated by operating activities (before in

  32. Slide 32: Marigold Mine: Assay Program

    Marigold Mine: Assay Program Five-year Outlook Adds 20% More Gold Production 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 release dated September

  33. Slide 33: Marigold Mine: Top Quartile Loading Efficiency

    Marigold Mine: 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

  34. Slide 34: 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

  35. Slide 35: 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

  36. Slide 36: 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

  37. Slide 37: 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

  38. Slide 38: Seabee Gold Operation Reserves and Resources

    Seabee Gold Operation Mineral Reserves and Mineral Resources as at December 31, 2015 Tonnes Gold Grade Contained Gold g/t ounces Proven Mineral Reserves 518,100 7.48 124,700 Probable Mineral Reserves 458,200 7.78 114,600 Proven and Probable Mineral Reserves 976,400 7.62 239,300 Measured Mineral Reso

  39. Slide 39: 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 Brian Booth COO Gustavo Herrero John DeCooman VP, Business Development and Strategy Bever

  40. Slide 40: Ownership and Capitalization Summary

    Ownership and Capitalization Summary Top 10 Shareholders % of Shares Outstanding Institutional Holdings by Country Van Eck Value 18.5% 11% 4% Renaissance Technologies 4.2% United States The Vanguard Group 1.8% 16% Canada Connor Clark & Lunn 1.7% United Kingdom Sun Valley Gold 1.6% 69% Other Deutsche

  41. Slide 41: Notes

    Notes SSRI:NASDAQ │SSO:TSX │ January 2017 41

  42. Slide 42: Silver Standard Resources Inc. Contact

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

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