Ssr Mining Inc. · NASDAQ:SSRM
Ssr Mining — Investor Day (September 2017)
150 slides from Ssr Mining's investor day presentation, Sep 12, 2017
Slide 1: SSR Mining Investor Day
SSR MINING INVESTOR DAY EVOLUTION TO A ‘TIER 1’ INTERMEDIATE PRODUCER September 12, 2017
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
Slide 3: Today's Agenda
Today’s Agenda Welcome and Introduction Strategy and Outlook Financial Review Operational Overview Operational Excellence Exploration and Development Closing Remarks and Q+A SSRM:NASDAQ/TSX PAGE 3
Slide 4: Today's Speakers
Today’s Speakers A. E. Michael Anglin Paul Benson Gregory J. Martin Alan N. Pangbourne Chairman President and CEO SVP and CFO COO Cameron Chapman Jon Gilligan Duane Peck Carl Edmunds James Carver General Manager General Manager General Manager Chief Geologist Chief Geologist Seabee Puna Operations M
Slide 5: Introduction
Introduction Mike Anglin, Chairman SSRM:NASDAQ/TSX PAGE 5
Slide 6: Transformation to an Intermediate Precious Metals Producer
Transformation to an Intermediate Precious Metals Producer Attractive management team with an operational discipline Management Experienced across regions, cultures and operations Operational Excellence is fundamental to our approach Consistent operational performance was a focus early on As
Slide 7: Transformation to an Intermediate Precious Metals Producer
Transformation to an Intermediate Precious Metals Producer Strong operating Three operating mines Building cash while platform and “OE” focus located in the Americas investing in the future SSRM:NASDAQ/TSX PAGE 7
Slide 8: SSR Mining Board of Directors
SSR Mining Board of Directors Depth of experience and a top governance rating Michael Anglin Brian Booth Gustavo Herrero Beverlee Park Richard Paterson Steven Reid Paul Benson Chairman, Safety & Corporate Audit Audit Committee Compensation Director Corporate Sustainability Governance & Committee, Ch
Slide 9: Strategy and Outlook
Strategy and Outlook Paul Benson, President and CEO SSRM:NASDAQ/TSX PAGE 9
Slide 10: 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
Slide 11: Strategy
Strategy Strategy for mining companies is dead simple – execution is the hard part Maximize the value of the existing assets: ‘OE’ is embedded in our organization and it is non-negotiable Investment in brownfields exploration Portfolio rationalization – focus only on assets where we can ad
Slide 12: Track Record of Execution
Track Record of Execution Record production of 393,000 gold equivalent ounces in 2016 Added cash to the portfolio in each of the last seven quarters to $354M Financial liquidity of approximately $600M Rationalized the portfolio to maximize value for SSRM shareholders Successfully replenish
Slide 13: Track Record of Delivery
Track Record of Delivery Five-year history of meeting or exceeding guidance Reliable trend of delivering more …at lower cash costs with less gold… variability 450 1,200 400 1,100 Gold-Equivalent Cash Costs ($/oz) 1,000 Gold-Equivalent Production (k oz) 350 900 300 800 250 700 200 600 150 Production
Slide 14: Sophisticated Shareholder Base Focused on Value
Sophisticated Shareholder Base Focused on Value Our track record and outlook have attracted sophisticated investors Attractive share structure with significant leverage to precious metals prices SUN VALLEY GOLD LLC SSRM:NASDAQ/TSX PAGE 14
Slide 15: Evolution to a 'Tier 1' Intermediate Producer
Evolution to a ‘Tier 1’ Intermediate Producer 500 1,600 1,400 400 1,200 Gold-Equivalent Production (k oz) Cash Costs ($/oz Gold-Equivalent) 1,000 300 800 200 600 400 100 200 0 0 2012A 2013A 2014A 2015A 2016A 2017E 2018E 2019E 2020E 2021E POI MMC SGO Cash Costs Notes: Production and cash costs for 20
Slide 16: Evolution to a 'Tier 1' Intermediate Producer
Evolution to a ‘Tier 1’ Intermediate Producer Well-positioned to grow Strong Growth and Sound Operating Cost Profile Platform Gold production of Diversified operations suite +440,000 oz by 2021 Capable management team Cash costs below $600 Strong financial position per ounce gold sold Good jurisdict
Slide 17: Financial Review
Financial Review Greg Martin, CFO SSRM:NASDAQ/TSX PAGE 17
Slide 18: Financial Performance
Financial Performance Portfolio generating materially improved results $200 Strong earnings and cash flow $171 driven by operating $150 performance $100 $100 Disciplined control of corporate $74 $69 and discretionary costs $50 $M $20 Capital investments controlled $5 $- ($0) ($8) Balanced po
Slide 19: Relative Valuation
Relative Valuation Portfolio performance not fully reflected 16 14 12 EV / LTM EBITDA (x) 10 8 6 4 2 - Tahoe SSR OceanaGold IAMGOLD Yamana Kirkland Torex New Klondex B2 Detour Eldorado Alamos Resources Mining Gold Lake Gold Gold Mines Gold Gold Gold Gold Valuation Notes: EBITDA is adjusted LTM EBITD
Slide 20: Strong Liquidity Position
Strong Liquidity Position Enables strategy through variable market conditions Undrawn Credit Facility $68M Cash $354M Total: $576M June 30, Marketable 2017 Securities (after-tax) $155M Note: See SSR Mining financial statements for the period ending June 30, 2017. SSRM:NASDAQ/TSX PAGE 20
Slide 21: Strong Balance Sheet for Growth
Strong Balance Sheet for Growth Committed to financial strength and flexibility Targeting BB credit metrics IAMGOLD Debt/EBITDA < 5.5 SSR Mining Current = 1.2 Eldorado Gold Kirkland Lake Debt/Capital <0.65 Current = 0.22 Tahoe Resources Alamos Gold $265M convertible notes are low Klondex Min
Slide 22: Capital Allocation & Debt Re-financing
Capital Allocation & Debt Re-financing Ensure return on capital deployed Robust planning process provides visibility to funding needs and Planning Cycle prioritization Raise capital at most cost efficient Maintain H2 level 5 Year Forecast Business Plans Utilize in tax efficient manner Credit
Slide 23: Risk Management
Risk Management Best risk management remains Hedge Position diversification and low-cost operations H2 2017 2018 2019 Diesel % Protected 20% 35% 5% Selectively manage material risk exposures to protect major price Cap Price ($/gal) 1.80 1.90 1.90 reversion Floor Price ($/gal) 1.36 1.32 1.26 Di
Slide 24: Consistent Cash Build from Operations to Fund Growth
Consistent Cash Build from Operations to Fund Growth Generating free cash flow Enable balance sheet for growth 1 PVG spin out 5 Convert offering $500 Free cash flow accelerates, Acquire Marigold with increase investments in 2 strategic use of cash portfolio and new $450 opportunities $400 4 3 $3
Slide 25: Capital Allocation Strategy
Capital Allocation Strategy Divesting non-core assets, investing in growth opportunities Portfolio Divestments Since 2013 Exploration Investments 30 Operations - additional resource drilling Greenfields exploration Strategic land acquisitions $25 Future value Realized 25 to be received asset sale pr
Slide 26: Operating Cash Flow by Operation
Operating Cash Flow by Operation Consensus metal prices 400 350 Operating Cash Flow (Pre-tax $M) 300 250 200 150 100 50 - 2018 2019 2020 2021 POI (75%) MMC SGO Strong Outlook Meaningful contribution and growth from all 3 operations Notes: Future cash flow for each operation is based on the Marigold
Slide 27: Operational Overview
Operational Overview Alan Pangbourne, COO SSRM:NASDAQ/TSX PAGE 27
Slide 28: Diversified Operating Base
Diversified Operating Base A range of operations and operating environments De-centralized management model Open pit and underground operations Operations in high altitude and cold weather conditions Operations owned by SSR Mining Remote conditions require overnight camp accommodations ‘Op
Slide 29: Evolution to a 'Tier 1' Intermediate Producer
Evolution to a ‘Tier 1’ Intermediate Producer 500 1,600 1,400 400 1,200 Gold-Equivalent Production (k oz) Cash Costs ($/oz Gold-Equivalent) 1,000 300 800 200 600 400 100 200 0 0 2012A 2013A 2014A 2015A 2016A 2017E 2018E 2019E 2020E 2021E POI MMC SGO Cash Costs Notes: Production and cash costs for 20
Slide 30: Breadth and Depth of Experience
Breath and Depth of Experience SSR Mining operations team Alan Pangbourne Chief Operating Officer Duane Peck Cameron Chapman Jon Gilligan Liezl Van Wyk Tom Hethmon Linda Broughton General Manager, General Manager, General Manager, Director, VP, Health and Environmental Marigold Mine Seabee Gold Puna
Slide 31: Seabee Gold Operation
SEABEE GOLD OPERATION Cameron Chapman, General Manager
Slide 32: Seabee: Overview
Seabee: Overview High-margin underground operation in a stable jurisdiction High-grade, underground mine in Saskatchewan, Canada Mill operated at 870 tpd in 2016 (subsequent to acquisition on May 31, 2016) 2017 guidance: 75,000 to 85,000 ounces of gold produced at cash costs of $575 to $625 pe
Slide 33: Large, Contiguous Land Package
Large, Contiguous Land Package 23,300 Hectare land package at Seabee Santoy Mine Seabee Mine/Mill Airstrip & camp Fisher Exploration Camp 34,000 Hectare land package at Fisher Project (option agreement) 10kms All weather road Gold occurrence Santoy shear zone SSRM:NASDAQ/TSX PAGE 33
Slide 34: Seabee: Preliminary Economic Assessment
Seabee: Preliminary Economic Assessment Expanded margins from higher throughput and grade Increases mining rate by 21% to 1,050 tpd by 2019, compared to 2016 Mines 62% of Inferred Mineral Resources Increases estimated LOM average gold production by 29% to 100,000 ounces per year (for the perio
Slide 35: Seabee: PEA Financial Summary and Sensitivity Analysis
Seabee: PEA Financial Summary and Sensitivity Analysis Cash Flows ($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
Slide 36: Increasing Production at Lower Costs
Increasing Production at Lower Costs 140 $1,200 120 120 Acquired $1,000 the Seabee Gold Operation 108 $998 May 31, 2016 $954 100 100 89 $800 Cash Costs ($/ounce gold) Gold Production (k oz) $757 80 80 77 75 $663 $600 63 $600 $590 60 $540 $525 $504 50 45 $442 $400 40 $200 20 0 $- 2012A 2013A 2014A 20
Slide 37: Seabee: Production from Inferred Mineral Resources
Seabee: Production from Inferred Mineral Resources 100% 80% 60% 40% 20% 0% 2017 2018 2019 2020 2021 2022 2023 2024 % of Ounces Attributable to Measured and Indicated Mineral Resources % of Ounces Attributable to Inferred Mineral Resources Notes: The Seabee Gold Operation PEA is preliminary in nature
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 H2 2018 2019 20
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
Slide 40: Seabee: Opportunities
Seabee: Opportunities Deliver on PEA expansion case to 1,050 tpd Continue to expand the Santoy mine complex Convert Inferred Resources to Measured and Indicated Evaluate increasing milling capacity to 1,200 tpd Drive Operational Excellence initiatives Potential for near-mine site discove
Slide 41: Seabee: Reserves and Resources
Seabee: Reserves and Resources As of December 31, 2016 Proven and Probable 1.37 Mt grading 8.19 g/t gold Mineral Reserves Contained gold of 0.36 Moz Measured and Indicated 2.07 Mt grading 8.02 g/t gold Mineral Resources Contained gold of 0.54 Moz Inferred 2.50 Mt grading 7.66 g/t gold Mine
Slide 42: Seabee: Exploration Strategy and Geology
Seabee: Exploration Strategy and Geology Strategy focuses on: Resource conversion to Reserves Extension of existing Resources Sterilization of the Seabee mine Discovery of new deposits Seabee is located in a Proterozoic greenstone belt Controls are the shear zones and granitic contacts
Slide 43: Santoy Exploration Areas
Santoy Exploration Areas PEA Development plan considering historic resource conversion _0m Elev _0m Elev -250m Elev -250m Elev -500m Elev -500m Elev Saskatoon -750m Elev -750m Elev 8A INFILL GAP 8A HW/FW DEEP GAP INFILL Gap HW 8A DEEP (Hanging Wall/ Foot Wall) 8A/East SSRM:NASDAQ/TSX PAGE 43
Slide 44: Santoy Mine Virtual Tour Video
Santoy Mine Virtual Tour Video SSRM:NASDAQ/TSX PAGE 44
Slide 45: Santoy Exploration by Year - 2010
Santoy Exploration by Year - 2010 _0m Elev -400m Elev Saskatoon -800m Elev Note: Please refer to the technical report entitled “Mineral Resource and Mineral Reserve Estimate Seabee Gold Operation Saskatchewan, Canada” dated December 23, 2013 available under the Claude Resources profile on the SEDAR
Slide 46: Santoy Exploration by Year - 2011
Santoy Exploration by Year - 2011 _0m Elev -400m Elev Saskatoon -800m Elev Note: Please refer to the technical report entitled “Mineral Resource and Mineral Reserve Estimate Seabee Gold Operation Saskatchewan, Canada” dated December 23, 2013 available under the Claude Resources profile on the SEDAR
Slide 47: Santoy Exploration by Year - 2016
Santoy Exploration by Year - 2016 _0m Elev -400m Elev Saskatoon -800m Elev Notes: Please refer to our news release dated November 7, 2016 and the technical report entitled “Mineral Resource and Mineral Reserve Estimate Seabee Gold Operation Saskatchewan, Canada” dated December 23, 2013 available und
Slide 48: Santoy Exploration by Year – 2016 Mineral Resources
Santoy Exploration by Year – 2016 Mineral Resources _0m Elev Resource Saskato on Classification Measured & Indicated Inferred -400m Elev -800m Elev Notes: Measured and Indicated Mineral Resources are inclusive of Mineral Reserves. Please refer to our news release dated February 23, 2017 and “Santoy
Slide 49: Santoy Exploration – through 2017
Santoy Exploration – through 2017 _0m Elev Resource Saskato on Classification Measured & Indicated Inferred -400m Elev Saskatoon OPEN OPEN OPEN Mineral trend -800m Elev Notes: Measured and Indicated Mineral Resources are inclusive of Mineral Reserves. Please refer to our news releases dated February
Slide 50: Santoy Exploration by Year – 2017
Santoy Exploration by Year – 2017 Santoy Gap (9A, 9B, 9C) Santoy 8A _0m Elev 2.1m at 52.8g/t 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 5.8m at 6.4g/t (SUG-17-919) 6.3m at 7.43g/t (SUG-17-041) (SUG-17-042) 7.0m at 7.17g/t (SUG-17-918) 2
Slide 51: Santoy Exploration – Near Mine Extensions
Santoy Exploration – Near Mine Extensions Santoy Gap (9A, 9B, 9C) Santoy 8A _0m Elev Gap HW -400m Elev OPEN -800m Elev OPEN OPEN Notes: Measured and Indicated Mineral Resources are inclusive of Mineral Reserves. Please refer to our news releases dated February 23, 2017, May 1, 2017 and September 5,
Slide 52: Carr Exploration Target
Carr Exploration Target Located 4 km north of Santoy Gap Carr target Santoy Mine Seabee Mine/Mill Airstrip & camp Fisher Exploration Camp 10kms All weather road Gold occurrence Santoy shear zone SSRM:NASDAQ/TSX PAGE 52
Slide 53: Carr Exploration Target
Carr Exploration Target Located 4 km north of Santoy Gap 1997 long-section looking west with vertical projection of intercepts on the 50 degree dipping incline (plane dips to the east) South SAN-97-004 North _0m 9.03 g/t over 2.47 m -400 -400Elev Elev -800 -800Elev Elev Saskatoon -1200 -1200Elev E
Slide 54: Carr Exploration Target
Carr Exploration Target 2016 Presents encouraging results 2016 long section looking west with vertical projection of intercepts on the 50 degree dipping inclined (plane dips to the east) South CAR-16-003 SAN-97-004 North _0m 6.28 g/t over 1.50 m 9.03 g/t over 2.47 m -400 -400Elev Elev -800 -800Ele
Slide 55: 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
Slide 56: Fisher Project: Exploration Overview
Fisher Project: Exploration Overview Extension of the Pine Lake Greenstone Belt and the Santoy Shear Work completed YTD 2017 Santoy Mine Geochemistry (soils and till) Structural mapping Prospecting Planned expenditures of C$700K in 2017 3,000 meters planned drilling in 2017 Santoy Shea
Slide 57: Seabee: Value Creation Opportunity
Seabee: Value Creation Opportunity Seabee Island Gold Lamaque Nevada Operations (SSR Mining) (Richmont Mines) (Eldorado Gold) (Klondex Mines)⁴ Average Mill Throughput (tpd) 1,050 1,100 1,675 772 Average Milled Grade (g/t) 8.3 9.7 7.0 20.0 Mine Life (years) 7 8 10 n.a Gold Recovery (%) 96.5% 96.5% 93
Slide 58: Seabee: Wrap-Up
Seabee: Wrap-Up High-grade gold operation in Saskatchewan, Canada acquired May 2016 PEA study outlines near-term production growth at lower costs Increases estimated LOM average gold production by 29% to 100,000 ounces per year (for the period 2018 to 2023, compared to 2016) LOM estimated ca
Slide 59: Marigold Mine
MARIGOLD MINE Duane Peck, General Manager
Slide 60: Large Scale, Low-Cost Producer
Large Scale, Low-Cost Producer Open pit, run-of-mine heap leach gold operation 2017 guidance: 205,000 to 215,000 ounces of gold produced at cash costs of $640 to $670 per ounce ~200,000 tonnes of material moved per day Twin Creeks Goldstrike MARIGOLD Maverick Springs Strong safety and enviro
Slide 61: Track Record of Performance and Growth
Track Record of Performance and Growth Acquired the Marigold Mine April 4, 2014 300 $1,000 $855 $900 $918 250 235 $800 $837 230 $781 210 210 207 205 205 $765 $700 200 Cash Costs ($/ounce gold) $691 $685 Gold Production (k oz) $646 $655 $600 161 162 $575 150 144 $500 $400 100 $300 $200 50 $100 0 $- 2
Slide 62: Marigold Mine: Capital Cost Summary
Marigold Mine: Capital Cost Summary Five-year outlook Stable capital cost profile of ~$50M per year through 2020 Sustaining capital includes: leach pad expansion, equipment replacement 2021 capitalized stripping drives next phase of mine life extension 2017 2018 2019 2020 2021 Sustaining capit
Slide 63: Marigold Mine: Operating Cost Summary
Marigold Mine: 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%
Slide 64: Marigold Mine: Opportunities
Marigold Mine: Opportunities Continue to deliver robust operating margins Equipment replacement study Mine-life extension through exploration at Valmy, East Basalt and Red Dot Deep sulphide exploration 8,000 Average tonnes loaded per hour 6,000 4,000 2,000 0 M1 M8 Marigold M17 M2 M2 M20 M10
Slide 65: Marigold Mine: Reserves and Resources
Marigold Mine: Reserves and Resources As of December 31, 2016 Proven and Probable 185.0 Mt grading 0.45 g/t gold Mineral Reserves Contained gold of 2.67 Moz Measured and Indicated 348.3 Mt grading 0.45 g/t gold Mineral Resources Contained gold of 4.98 Moz Inferred 53.6 Mt grading 0.41 g/t
Slide 66: Marigold Mine: Mineral Reserves Growth
Marigold Mine: Mineral Reserves Growth 3.0 2.5 Mineral Reserves (Moz) 2.0 1.5 1.0 20142014 TR-Sept EOY2014 EOY2015 EOY2016 Technical Report Note: Please refer to “Cautionary Notes” and “Reserves & Resources: Notes to Tables” in this presentation. SSRM:NASDAQ/TSX PAGE 66
Slide 67: Marigold Mine: Exploration Strategy
Marigold Mine: Exploration Strategy Focus is Mineral Resource to Mineral Reserve conversion Mineral Reserves addition that exceeds mining depletion Secondary objective is Mineral Resource addition and extension Exploration success since acquisition of Marigold mine in April 2014 Invested $
Slide 68: Exploration Success and Resource Conversion
Exploration Success and Resource Conversion N 8N 8D 8SX HideOut Mud Pits Valmy Battle Cry Mackay Pit East Basalt A’ Basalt Pit Reserve Pits 1 km Terry Zone North 2016 Resource Outline Resource Targets A Higher-grade discoveries since 2014 8SX: 91.4 m at 2.48 g/t Au Valmy: 59.4 m at 1.65 g/t Au
Slide 69: 2017 Drilling
2017 Drilling Hide Out RC Drilling N North April to July 2017: 30 km in 111 holes Mackay Red Dot 2017 plan: 49 km EOY 2016 Reserve outline Core drilling Red Dot A A’ Year-to-date 2017: 1,128 meters 2017 plan: 2,000 meters EOY 2016 Exploration focus Resource outline Conversion of Mineral Re
Slide 70: Mackay Pit Drill Results
Mackay Pit Drill Results A A’ 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
Slide 71: East Basalt Drill Results
East Basalt Drill Results B EOY 2016 Resource Pit Shell B’ 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
Slide 72: Conceptual Cross-Section With Local Analogs
Conceptual Cross-Section With Local Analogs vvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvvv Getchell/TRJV Twin Creeks Oxide mineralization Un-Ox sulphide mineralization Twin Creeks* Comus Formation 4.93M ozs Au Marigold’s sulphide Turquoise Ridge** Comus Formation gold mineralization 5.
Slide 73: Deep Sulphide Exploration
Deep Sulphide Exploration N Marigold Anticlinorium Targeted axis of broad folds with bounding faults Seven core holes drilled totaling 7,590 meters since 2014 COLOG structural survey – provides orientation data Carbonate debris flow (Comus Formation) correlated between drill holes Results
Slide 74: Deep Sulphide Exploration: Looking West
Deep Sulphide Exploration: Looking West S N 500 meters 7 Basalt Pit 6 3 1 Mackay Pit 4 5 2 8S Pit DDH6421 43.0 m at 0.39 g/t Au Incl. 1.1 m at 3.91 g/t >700 ppm arsenic anomaly Incl. 0.15 m at 9.86 g/t 1 g/t Au grade shell from block model Notes: See news release dated September 5, 2017 for further
Slide 75: Deep Sulphide Exploration
Deep Sulphide Exploration Turquoise Ridge C: Example of fine-grained, shear textured breccia that originated from a thin bedded interlayered sequence of carbonaceous mudstone and limestone Marigold SSRM:NASDAQ/TSX PAGE 75
Slide 76: Deep Sulphide Exploration
Deep Sulphide Exploration 500 meters 12.8 m at 0.47 g/t Au Abrupt lithologic change to carbonaceous mudstone shear breccia coincident 43.0 m at 0.39 g/t Au with As and Au Incl. 1.1 m at 3.91 g/t Incl. 0.15 m at 9.86 g/t anomalies >700 ppm arsenic anomaly 1.16 m at 1.91 g/t Au >0.1 ppm gold anomaly 1
Slide 77: 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
Slide 78: Marigold Mine: Wrap-Up
Marigold Mine: Wrap-Up Large-scale, open pit operation in Nevada with steady operating performance Marigold moves +200,000 tonnes of material daily Gold production averages +220,000 oz per year at ~$725 cash costs through 2021 Exploration provides near-term Mineral Resource expansion and dis
Slide 79: Puna Operations
PUNA OPERATIONS Jon Gilligan, General Manager
Slide 80: Puna Operations
Puna Operations Brownfields development for Pirquitas operating life extension SSR Mining is the JV operator with a 75% controlling interest Chinchillas is a silver-lead-zinc deposit located 45 km from the Pirquitas plant and facilities Pirquitas plant capacity 5,000 tpd Pirquitas open pit c
Slide 81: Puna Operations: Property Map
Puna Operations: Property Map SSRM:NASDAQ/TSX PAGE 81
Slide 82: 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 $13.25 $13.83 Cash Costs ($/oz Silver-Equivalent) Silver-Equivalent Production (Moz) $14 8 $13.45 $12.19 $12.72 6.9 6.9 $12 6.8 $1
Slide 83: Puna Operations: Capital Cost Summary
Puna Operations: Capital Cost Summary Five-year outlook Attractive low capital cost project extends mine-life to 2026 Upfront capital including pre-stripping of $81M to develop Chinchillas deposit (timing of spend subject to permitting) Potential for mine-life extension / throughput expansion
Slide 84: Puna Operations: Operating Cost Summary
Puna Operations: Operating Cost Summary By process and by cost category (life of mine) Transport 17% Mine Operations $/tonne processed 34% G&A 16% Mine Operations $15.33 Processing $15.15 Processing 33% Mining Operations Breakdown G&A $7.00 Drilling Supervision/ 8% Technical 19% Transport $7.86 Blas
Slide 85: Puna Operations: Opportunities for Growth
Puna Operations: Opportunities for Growth Potential to fully utilize plant capacity up to the proven 5,000 tpd Pirquitas underground study expected in 2018 Regional exploration strategy at Chinchillas and Pirquitas properties SSRM:NASDAQ/TSX PAGE 85
Slide 86: Puna Operations: Pirquitas Mineral Reserves and Resources
Puna Operations: Pirquitas Mineral Reserves and Resources as of December 31, 2016 Proven and Probable Stockpile: 2.4Mt at 118.1 g/t silver Mineral Reserves Contained: 9.2Moz silver Pirquitas: 12.9Mt at 108.6 g/t silver Contained: 45.0Moz silver Measured and Indicated Stockpile: 2.4Mt at 11
Slide 87: Puna Operations: Chinchillas Mineral Reserves and Resources
Puna Operations: Chinchillas Mineral Reserves and Resources as of 2016 Proven and Probable 11.7Mt grading 154 g/t Ag, 1.20% Pb, 0.49% Zn Mineral Reserves Contained: 58Moz Ag, 310Mlb Pb, 127Mlb Zn Measured and Indicated 29.3 Mt grading 101 g/t Ag, 0.90% Pb, 0.60% Zn Mineral Resources Containe
Slide 88: Chinchillas: Geology and Exploration Areas
Chinchillas: Geology and Exploration Areas SSRM:NASDAQ/TSX PAGE 88
Slide 89: Chinchillas: Rock Type and Mineralization
Chinchillas: Rock Type and Mineralization Tuff Tuff Sediment - arenite Mantos Basement Breccia hosted Hydrothermal Hydrothermal Pb-Ag mineralization breccia breccia Socovon Socovon SSRM:NASDAQ/TSX PAGE 89
Slide 90: Chinchillas: Geology
Chinchillas: Geology Plan showing topography and Pit Shell Mineralization dominated by tetrahedrite (friebergite) Produces lead-silver and zinc concentrates Section line Resource growth opportunities at Socavon East and Chinchillas South 50 200 Pit Outline Grade Ag g/t Silver Manto Mantos Base
Slide 91: Pirquitas Underground Opportunity
Pirquitas Underground Opportunity Focused on mine-life extension and high grade silver Potential for small-scale, high-grade ore supply from Cortaderas Additional studies to be performed on Chocaya and Oploca Pirquitas Cortaderas open pit (mined out Jan 2017) San Miguel 600 meters Oploca Notes:
Slide 92: Cortaderas: Geology
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 21, 2015 and February
Slide 93: Puna Operations: Wrap-Up
Puna Operations: Wrap-Up Chinchillas: ‘brownfields-like’ development for near-term production growth Represents operating life extension to 2025 with limited capex Construction expected Q4 2017 (subject to permitting) First ore production expected H2 2018 (subject to permitting) Pirquitas
Slide 94: Break
Break Approximately 15 minutes SSRM:NASDAQ/TSX PAGE 94
Slide 95: Operational Excellence
Operational Excellence Alan Pangbourne, COO SSRM:NASDAQ/TSX PAGE 95
Slide 96: Operational Excellence Focusses on the Process
Operational Excellence Focusses on the Process Employee-centric, data driven … fast and structured Float / Final Drill Blast Load Haul Dump Crush Grind Leach Product Focus on process stability before adding new capacity High Variability Stabilize Improve SSRM:NASDAQ/TSX PAGE 96
Slide 97: Operational Excellence Focusses on the Process
Operational Excellence Focusses on the Process Employee-centric, data driven … fast and structured Float / Final Drill Blast Load Haul Dump Crush Grind Leach Product Value driver trees used to identify root cause SSRM:NASDAQ/TSX PAGE 97
Slide 98: Operational Excellence Focusses on the Process
Operational Excellence Focusses on the Process Employee-centric, data driven … fast and structured Float / Final Drill Blast Load Haul Dump Crush Grind Leach Product Prioritization matrix to focus on biggest value drivers SSRM:NASDAQ/TSX PAGE 98
Slide 99: Case Study: Pirquitas Cost Reductions
Case Study: Pirquitas Cost Reductions Results from sustained ‘OE’ activities over a 5-year period Increased Tonnes Milled by 20% Increased Grade with Collector Upgrade 6.0 20,000 Milling Rate (k tonnes) 5.0 Silver Grade (g/t) 15,000 4.0 10,000 3.0 5,000 0 2.0 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-1
Slide 100: Case Study: Marigold Mine Payload Efficiency
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 payload
Slide 101: Case Study: Marigold Mine Power Cost Reduction
Case Study: Marigold Mine Power Cost Reduction One month cost savings by generating power, not losing power Before … power generated by the ... after closing the tie breaker, the shovel was lost to the power grid shovel generated power for a with an open tie breaker; yet … $136,000 cost savings per
Slide 102: Case Study: Marigold Drill Efficiency Improvement
Case Study: Marigold Drill Efficiency Improvement Continuous improvement year-on-year Challenge: Decrease non-productive time of drills Actions: Reduced number of operating drills to 4 from 6 Result: Reduced cost per foot drilled and increased drill efficiency 130 $2.10 Feet per Operating Hour
Slide 103: Case Study: Seabee Stripping Circuit and Gold Inventory
Case Study: Seabee Stripping Circuit and Gold Inventory Reduced gold inventory by 3,000 ounces Challenge: Stripping circuit time was 450 Preg 2016 400 approximately 96 hours based on 350 Preg 2017 Solution Grade Au g/t 2016 estimates 300 250 200 150 Actions: 100 50 Focused on improvements to t
Slide 104: Case Study: Seabee Gold Recovery Improvement
Case Study: Seabee Gold Recovery Improvement Utilizing existing equipment to reduce losses 1200 and increase recovery Challenge: Improve gold recovery at 1000 minimal to no cost by year-end 2016 Milled tonnes per Day 800 Actions: 600 Performed a throughput 400 capacity test in August 2016 200
Slide 105: Case Study: Seabee Cemented Rock Fill (CRF) Results
Case Study: Seabee Cemented Rock Fill (“CRF”) Results Challenge: Investigate ways to improve the rib pillar CRF construction Actions: Following the ‘OE’ process to identify options to reduce fill and then trialed new procedure at the operation + + + + + + Before: Rock Fill CRF Un-blasted Ore + 3
Slide 106: Our Ongoing Journey, a Digital Evolution
Our Ongoing Journey, a Digital Evolution SoloMaint Systems Integration - Connect two ERP platforms Data & Analysis capability & Improved Inventory Management More Tons Delivered Sooner First Hour Production (t) 4000 3500 3000 Analytics project on Production 2500 2000 1500 data sets 1000 Jan Fe
Slide 107: Turning 'Big Data' into Informed Decisions
Turning ‘Big Data’ into Informed Decisions Alarms/ Notifications Data Structure and Platform development Reports • abc • 123 Analytics Systematic process to ingest • xyz various data formats for Visualization optimized Analytics and AI Decision making Machine Implemented interactive and drill
Slide 108: Exploration and Development
Exploration and Development Carl Edmunds SSRM:NASDAQ/TSX PAGE 108
Slide 109: Corporate Exploration Strategy
Corporate Exploration Strategy Focus on established gold camps and districts Exploration supports acquisition strategy Three areas for exploration investment … Brownfields – Exploration as an investment in extending mine life at existing operations Development Projects – Invest in projects w
Slide 110: 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
Slide 111: SIB Project
SIB Project Targeting a precious metals enriched VMS deposit Lulu target Prospective Eskay-type Host rocks Source: Eskay Mining Assessment Report 2010. SSRM:NASDAQ/TSX PAGE 111
Slide 112: SIB Project
SIB Project Potential at depth intercepted prospective volcanic rocks EK17-145 intersected ~0.8 meters of 5 cm EK17-149 sulphide veins brecciating rhyolite flow EK17-149 intersected ~20 meters (387 to 407 meters) of semi massive pyrite, sphalerite, galena and chalcopyrite associated with chlorit
Slide 113: Perdito Project
Perdito Project High-grade, Carlin-type sediment-hosted gold deposit in California Multiple ready-to-drill targets $900K for drilling and field work in 2017 Gold grades of up to 10.9 g/t confirmed by duplicate surface sampling Large land package of 5,780 hectares near major infrastructure
Slide 114: Portfolio Rationalization
Portfolio Rationalization Maximizing value of portfolio with property sales 10 2 7 8. Maverick Springs 1 8 9. San Marcial Brucejack 7. Amisk Snowfield 1. Marigold 9 (Pretium) 5. San Luis 6 10. Sunrise Lake 4. Chinchillas Berenguela 2. Seabee Diablillos Candelaria 3. Pirquitas Bowdens San Agustin 6.
Slide 115: 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
Slide 116: 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
Slide 117: Closing Remarks
Closing Remarks Paul Benson, President and CEO SSRM:NASDAQ/TSX PAGE 117
Slide 118: Track Record of Delivering Value and Growth
Track Record of Delivering Value and Growth Strong financial performance and balance sheet with $354M in cash Diversified suite of operations in good jurisdictions with exploration upside Capable management team with a track record of capital discipline Five-year production growth to +440,00
Slide 119: Evolution to a 'Tier 1' Intermediate Producer
Evolution to a ‘Tier 1’ Intermediate Producer 500 1,600 1,400 400 1,200 Gold-Equivalent Production (k oz) Cash Costs ($/oz Gold-Equivalent) 1,000 300 800 200 600 400 100 200 0 0 2012A 2013A 2014A 2015A 2016A 2017E 2018E 2019E 2020E 2021E POI MMC SGO Cash Costs Notes: Production and cash costs for 20
Slide 120: Near-term Investment Catalysts
Near-term Investment Catalysts Delivering shareholder value Seabee PEA and site tour Puna Operations construction decision and ore delivery Exploration results at Marigold, Seabee, SIB and Fisher Marigold equipment replacement study Pirquitas underground study SSRM:NASDAQ/TSX PAGE 120
Slide 121: SSR Mining Inc.
SSR Mining Inc. Delivering value and growth for our shareholders Strong Track Record of Production Delivering Value Growth and Cost and Growth Profile Strong Financial Potential Mine Position and Life Extension Disciplined M+A and Exploration Approach Upside SSRM:NASDAQ/TSX PAGE 121
Slide 122: Questions and Answers
Questions and Answers SSRM:NASDAQ/TSX PAGE 122
Slide 123: Appendix
Appendix SSRM:NASDAQ/TSX PAGE 123
Slide 124: Improved 2017 Production and Cash Costs Guidance
Improved 2017 Production and Cash Costs Guidance Marigold Seabee Puna SSR Mining Gold Gold Silver Gold Equivalent Production 205K – 215K oz 75K – 85K oz 5.0M – 6.0M oz 350K – 380K oz Cash Costs $12.50/oz – $640/oz – $670/oz $575/oz – $625/oz $680/oz – $725/oz (US$/oz) $14.00/oz* Mid-point Guidance 3
Slide 125: Total Operating Cash Flow, Operations
Total Operating Cash Flow, Operations Metal price sensitivity 500 Total Operating Cash Flow, Pre-tax ($M) Consensus metal prices +15% 400 Consensus metal prices -15% 300 200 100 - 2018 2019 2020 2021 Resilient Portfolio Significant operating cash flow generation across price range Notes: Future cash
Slide 126: SSR Mining Inc.
SSR Mining Inc. Strong governance rating Source: FactSet, ISS and BMO Capital Markets as of August 25, 2017. SSRM:NASDAQ/TSX PAGE 126
Slide 127: Relative Performance
SSR Mining Inc. Share capital structure, convertible note and top shareholders overview Top 10 Shareholders % of Shares Outstanding Institutional Holdings by Country 14% Van Eck Value 11.0% Renaissance Technologies 3.9% United States 9% Canada Investec Asset Management 2.5% Deutsche Bank 2.1% United
Slide 128: Marigold Mine: History
Marigold Mine: History 1988: Commenced production under Rayrock / Homestake / Placer Dome 1999: Transitioned to 100% ROM heap leach processing 1999: Glamis Gold acquired Rayrock Mines 2001: Barrick acquired 33% ownership through Homestake Mining 2005: Mine expanded 2006: Goldcorp acquire
Slide 129: Marigold Mine: Data Sheet
Marigold Mine: Data Sheet Location Nevada, USA Mining Fleet / Specifications Material moved per day ~210,000 tonnes Ownership 100% Komatsu 930 (277 t payload capacity) 9 Property size 10,650 hectares Primary metal produced Gold Hitachi EH5000 12 (315 t payload capacity) Open pit, run-of-mine heap Mi
Slide 130: Marigold Mine: Flowsheet
Marigold Mine: Flowsheet Conventional run of mine heap leach SSRM:NASDAQ/TSX PAGE 130
Slide 131: 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
Slide 132: Marigold Mine: Property Map with Royalty Holdings
Marigold Mine: Property Map with Royalty Holdings FN 4% CG 4% RG 2% FN 5% FN 5% FN 5% VEK 3% FN 5% NNvR 2.125% FN 5% CG 4% RG 2% FN 5% FN 5% FN 4% UNR 5% CG 4% FN 1.5% RG 2% CG 1.5% FN 4% RG 2% NNvR 2.125% CG 4% FN 4% RG 2% CG 4% RG 2% FN 5% FN 3% NNvR 3.5% VEK 3% FN 5% FN 3% NNvR 2.125% Royal Gold
Slide 133: Marigold Mine: Exploration Success
Marigold Mine: Exploration Success Units 2014 2015 2016 Total Exploration Expenditures “A” $M $5.54 $6.21 $16.56 $28.31 Annual Drill Program Meters 24,482 41,743 55,146 121,371 Gold Price Assumption US$ / oz $1,200 $1,100 $1,250 - M&I Mineral Resources (inclusive of Moz 4.16 5.58 5.15 n/a Mineral Re
Slide 134: Marigold Mine: Permitting Process Timeline
Marigold Mine: Permitting Process Timeline September 2017 Baseline/Technical Studies 2015 to 2017 Plan of Operations Public Scoping Period & Draft EIS Development Final EIS Development Complete Meetings Q2 2017 Q3 - Q4 Q3 2015 Q2 2016 2018 to Q2 2018 Q1 2019 Q2 2015 Q1 2016 Q2 - Q3 Record of 2018 De
Slide 135: Seabee: History
Seabee: History 1947: First gold discovered by Cominco 1985: Claude Resources acquires property from BEC International 1991: Seabee mine and mill declare commercial production 2011: Santoy mine commences commercial production 2016: SSR Mining acquires Claude Resources 2016: Record produc
Slide 136: Seabee: Data Sheet
Seabee: Data Sheet Location Saskatchewan, Canada Mining Equipment Fleet Size Mill nameplate capacity 900 tpd 6-cubic yard load haul dump 5 Ownership 100% 8-cubic yard load haul dump 2 40-tonne haulage truck 7 Property size 23,700 hectares 2-Boom jumbo 3 Primary metal produced Gold 1-Boom jumbo 2 Min
Slide 137: Seabee: Flowsheet
Seabee: Flowsheet SSRM:NASDAQ/TSX PAGE 137
Slide 138: Seabee: PEA Summary
Seabee: PEA Summary Mine life: 7 years Pre-tax NPV (5%) Sensitivities ($M) Average processing rate 1,042 tpd Gold Price ($/oz) Total tonnes milled 2.65 Mt $1,100 $1,200 $1,300 $1,400 $1,500 Average milled grade 8.51 g / t gold 1.15:1 $216 $272 $329 $386 $442 Average gold recovery 96.5% 1.20:1 $233 $
Slide 139: Fisher Project: Option Agreement Summary
Fisher Project: Option Agreement Summary Option agreement dated October 2016 with Eagle Plains Resources Ltd. (“Eagle Plains”) Four-year option period whereby SSR Mining can terminate at any time To earn a 60% interest in the Fisher project, SSR Mining is required to spend: At closing, a cas
Slide 140: Pirquitas: History
Pirquitas: History 1900s: Artisanal underground tin and silver mining 1995: Sunshine Mining purchases the Pirquitas project and begins exploration 2002: SSR Mining acquires 43% of the Pirquitas project from Sunshine Mining 2004: SSR Mining consolidates the Pirquitas project to control 100%
Slide 141: Chinchillas Project: History
Chinchillas Project: History 1994: Aranlee Resources conducts surface sampling and drills seven RC holes 2004: Silex Argentina, a subsidiary of Apex Silver, conducts exploration work 2011: Golden Arrow options Chinchillas project from local landowner 2012: Golden Arrow begins exploration wor
Slide 142: Puna Operations: Data Sheet
Puna Operations: Data Sheet (100% based on full operating scenario) Location Jujuy, Argentina Mining Fleet / Specifications Mill capacity 5,000 tpd Haul truck (100 tonne) 9 SSR Mining ownership 75% Wheel loaders (16-cubic yard) 3 (1 new) Property size 9,543 hectares Production drills 2 (1 new) Prima
Slide 143: 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
Slide 144: Puna Operations: Flowsheet
Puna Operations: Flowsheet SSRM:NASDAQ/TSX PAGE 144
Slide 145: 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
Slide 146: 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
Slide 147: 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
Slide 148: 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
Slide 149: 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
Slide 150: Thank You
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