Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — CIBC 21st Annual Whistler Institutional Investor Conference (January 2018)

52 slides from Ssr Mining's conference presentation, Jan 24, 2018

  1. Slide 1: Creating Value

    CREATING VALUE January 2018 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: A Growing Intermediate Precious Metals Producer

    A Growing Intermediate Precious Metals Producer With scale and liquidity +370,000 oz AuEq 2017 gold equivalent production Met or exceeded production guidance six consecutive years Silver 23% 100% of Gold Production is Gold North America- 77% based ~$1.1B market cap Liquid stock with $25M traded dail

  4. Slide 4: Solid Production and Exploration Results in 2017

    Solid Production and Exploration Results in 2017 Support our near-term investment catalysts 2017  Produced +370,000 oz AuEq in 2017, achieving guidance Production Results  Q4 2017 delivered +92,000 oz AuEq from three operations  Construction started Q1 2018 at Chinchillas Delivering Near-term  F

  5. Slide 5: 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

  6. Slide 6: 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

  7. Slide 7: Marigold Mine

    MARIGOLD MINE GROWTH IN NEVADA

  8. Slide 8: 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 at expected cash costs of $640 to $670 per ounce  Q4 gold production of 52,768 ounces Twin Creeks Goldstrike  ~200,000 tonnes of material moved per day MARIGOLD Maverick Spr

  9. Slide 9: 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) $35 $25 $20 $25 Capitalized deferred stripping ($M) $15 $15 $30 $70 Expanding Margins Forecast avg.

  10. Slide 10: Operational Excellence is Fundamental: Mining Cost per Tonne

    Operational Excellence is Fundamental Long-term Cost Savings at Marigold $1.92 $1.74 $1.70 Mining Cost per Tonne $1.65 $1.65 $1.67 $1.62 $1.61 $1.57 $1.55 $1.54 $1.52 $1.52 $1.48 $1.48 $1.45 2013 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

  11. Slide 11: Marigold: Opportunities

    Marigold: Opportunities  Continue to deliver robust operating margins  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:NASDAQ/TSX PAGE 11

  12. Slide 12: Marigold: Equipment Replacement Study

    Marigold: Equipment Replacement Study In 2018, 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

  13. Slide 13: Marigold: Exploration Success and Resource Conversion

    Marigold: Exploration Success and Resource Conversion N 8N 8D 8SX HideOut Mud Pits Valmy Battle Cry Mackay Pit East Basalt A’ B’ Basalt Pit A Reserve Pits Terry Zone North 2016 Resource Outline Resource Targets B 1 km Higher-grade discoveries since 2014  8SX: 91.4 m at 2.48 g/t Au  Valmy: 59.4 m a

  14. Slide 14: East Basalt Drill Results

    East Basalt Drill Results A EOY 2016 Resource Pit Shell A’ Original Surface Current Pit Surface MR6488 54.9 m at 0.69 g/t Incl. 6.1 m at 1.87 g/t Gold Grade (g/t) < 0.06 0.06 – 0.6 MRA6453 0.6 – 1.0 79.2 m at 1.36 g/t > 1.0 Incl. 6.1 m at 1.77 g/t Incl. 15.2 m at 2.49 g/t 75 meters W Incl. 10.7 m at

  15. Slide 15: Mackay Pit Drill Results

    Mackay Pit Drill Results B B’ EOY 2016 EOY 2016 Gold grade EOY 2016 Mackay July 2017 Pit Surface Original Surface Resource Pit Shell model Reserve Pit 1 km Terry Zone North Gold Grade (g/t) < 0.06 0.06 – 0.6 MRA6461 0.6 – 1.0 35.1 m at 0.86 g/t > 1.0 MRA6502 MRA6503 MRA6444 75 meters 59.4 m at 0.47

  16. Slide 16: Seabee Gold Operation

    SEABEE GOLD OPERATION HIGH GRADE GOLD MINE

  17. Slide 17: Seabee: Overview

    Seabee: Overview High-margin underground operation in a stable jurisdiction  High-grade, underground mine in Saskatchewan, Canada  Mill operated at 905 tpd in 2017, including record throughput of 970 tpd per day in Q4 2017  Produced a record 83,998 ounces of gold in 2017 at expected cash costs of

  18. Slide 18: 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

  19. Slide 19: Increasing Production at Lower Costs

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

  20. Slide 20: 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

  21. Slide 21: 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

  22. Slide 22: Seabee: Opportunities

    Seabee: Opportunities  Deliver on PEA expansion case to 1,050 tpd  80% increase in exploration budget to $9M in 2018  Santoy Gap Hanging Wall  Carr target  Fisher extension Seabee Gold  Convert Inferred Resources to Measured and Indicated Operation Flin Flon  Evaluate increasing milling capac

  23. Slide 23: 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 23

  24. Slide 24: 2017 Santoy Exploration

    2017 Santoy Exploration 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/t (SUG-17-041)

  25. Slide 25: 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

  26. Slide 26: 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

  27. Slide 27: Puna Operations

    PUNA OPERATIONS LARGE-SCALE SILVER PRODUCER

  28. Slide 28: 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

  29. Slide 29: Chinchillas Project: Data Sheet (100% Basis)

    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

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

    Puna Operations: Near-Term Production Growth by 2019 Attributable Silver-Equivalent Production Increasing to ~7.0M Ounces 12 $20 $18.90 10.9 10.4 $18 10.3 10 9.2 $16 8.9 $14.48 $13.25 $14 8 $12.19 $13.45 Cash Costs ($/oz Silver-Equivalent) Silver Production (MOz) $12.72 6.8 6.9 6.9 $12 $10.84 $11.09

  31. Slide 31: 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 (

  32. Slide 32: 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

  33. Slide 33: 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

  34. Slide 34: Relative Valuation

    Relative Valuation Portfolio performance not yet fully reflected 16 14 12 10 EV/ LTM EBITDA 8 6 4 2 - IAMGOLD Tahoe SSR Mining OceanaGold Torex Gold Klondex Yamana New Gold Eldorado Detour Gold Kirkland B2 Gold Alamos Gold Resources Mines Gold Lake Gold Corp Strong Delivery Increased cash balance 10

  35. Slide 35: 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  Production growth to +440,000 oz AuEq by 2021 Free Cash Flow Growth  Ramp up at Seabee to 1,050 tpd in 2019  First ore production at Chinchillas H2 2018  C

  36. Slide 36: Value & Growth

    Value & Growth SSRM:NASDAQ/TSX PAGE 36

  37. Slide 37: OE Case Study: Marigold Mine Payload Efficiency

    OE Case Study: Marigold Mine Payload Efficiency Before: too many loads above target …  Challenge: Inconsistent shovel loading was leading to inconsistent truck payloads and under-utilization of payload capacity After: more loads at target  Actions:  Focused on shovel load, truck matching and payl

  38. Slide 38: Marigold: Operating Cost Summary

    Marigold: Operating Cost Summary By process and by cost category (five-year outlook) G&A 8% Processing 13% $/tonne processed Mine Operations $5.36 Mine Processing $0.88 Operations 79% Royalties 15% G&A $0.54 Labour & Contractors Other Site 34% Total $6.78 Costs 11% Maintenance Parts 8% Fuel 13% Cons

  39. Slide 39: 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

  40. Slide 40: 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

  41. Slide 41: Pirquitas Underground: Cortaderas Geology

    Pirquitas Underground: Cortaderas Geology  Zinc-rich silver mineralization  Resources to depth of 400 meters Cortaderas  Pre-feasibility would require:  1.5 km of lateral development  12.6 km infill drilling decision Drill bays Portal Pit Notes: Please refer to our news releases dated September

  42. Slide 42: San Luis Project

    San Luis Project A unique high-grade gold reserve with exploration upside Feasibility Study Results (June 2010) Mine life: 3.5 years Average annual 1.9M oz Ag production: 78,000 oz Au Cash cost: $313 / oz Au 9.0M oz Ag at 578.1 g/t Resources (M+I): 0.35M oz Au at 22.4 g/t Capital: $90 -$100M Mill th

  43. Slide 43: Pitarrilla Project

    Pitarrilla Project One of the largest undeveloped silver resources in the world Feasibility Study Results (December 2012) Mine life: 32 years Average annual 15M oz Ag (1st 18 years) production: Cash cost: $10.01 / oz Ag 497.3M oz Ag at 96.7 g/t (open pit) Resources (M+I): 28.8M oz Ag at 173.5 g/t (U

  44. Slide 44: 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 Value 11.1% 14% Renaissance Technologies 3.9% United States Investec Asset Management 2.5% 13% Canada The Vanguard Group 2.1%

  45. Slide 45: Mineral Reserves (as of December 31, 2016)

    Mineral Reserves (as of December 31, 2016) Location Tonnes Silver Gold Zinc Silver Gold millions g/t g/t % million oz million oz Proven Mineral Reserves Seabee Canada 0.52 6.97 0.12 Total 0.12 Probable Mineral Reserves Marigold U.S. 185.00 0.45 2.67 Marigold Leach Pad Inventory U.S. 0.17 Seabee Cana

  46. Slide 46: Mineral Resources: Measured and Indicated

    Mineral Resources: Measured and Indicated (as of December 31, 2016) Location Tonnes Silver Gold Lead Zinc Silver Gold millions g/t g/t % % million oz million oz Measured Mineral Resources (Inclusive of Proven Mineral Reserves) Seabee Canada 0.81 7.71 0.20 Pitarrilla Mexico 10.13 91.7 0.70 1.23 29.8

  47. Slide 47: Mineral Resources: Inferred

    Mineral Resources: Inferred (as of December 31, 2016) Location Tonnes Silver Gold Lead Zinc Silver Gold millions g/t g/t % % million oz million oz Inferred Mineral Resources Marigold U.S. 53.60 0.41 0.70 Seabee Canada 2.50 7.66 0.62 Pirquitas Argentina 0.91 80.3 1.88 2.3 Pirquitas UG Argentina 0.94

  48. Slide 48: 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

  49. Slide 49: Chinchillas Mineral Reserves and Resources

    Chinchillas Mineral Reserves and Resources 100% Project Basis Mineral Resources Tonnes AgEq Ag Pb Zn AgEq Ag Pb Zn (as at Oct. 2, 2016) (Mt) (g/t) (g/t) % % (Moz) (Moz) (Mlb) (Mlb) Measured 3.1 160 128 0.60 0.41 16 13 41 28 Indicated 26.2 148 98 0.94 0.62 124 83 540 358 Total (M+I) 29.3 149 101 0.90

  50. Slide 50: SSR Mining Board of Directors

    SSR Mining Board of Directors Depth of experience and a top governance rating Gustavo Herrero Richard Paterson Steven Reid Michael Anglin Brian Booth Chair, Chair, Chair, Chairman, Chair, Corporate Audit Committee, Compensation Corporate Safety & Governance & Corporate Committee, Governance & Sustai

  51. Slide 51: SSR Mining Executive Team

    SSR Mining Executive Team 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 BSc Geology and BA Psychology, BSc Mineral MBA, CPA, CGA, BApSc Metallurgy, Exploration MBA Eco

  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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