Slide 1: Creating Value: September 2017 Corporate Presentation
CREATING VALUE September 2017 Corporate Presentation
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: Track Record of Delivering Value and Growth
Track Record of Delivering Value and Growth Strong financial performance and balance sheet with $354M in cash Diversified suite of operations in good jurisdictions with exploration upside Capable management team with a track record of capital discipline Five-year production growth to +440,00
Slide 4: Evolution to a 'Tier 1' Intermediate Producer
Evolution to a ‘Tier 1’ Intermediate Producer 500 1,600 1,400 400 1,200 Gold-Equivalent Production (k oz) Cash Costs ($/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 5: 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 6: 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 6
Slide 7: Marigold Mine
MARIGOLD MINE GROWTH IN NEVADA
Slide 8: Marigold: Large Scale, Low-Cost Producer
Marigold: 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 $670 per ounce ~200,000 tonnes of material moved per day Twin Creeks Goldstrike MARIGOLD Maverick Springs Strong safety
Slide 9: Marigold: Operating Outlook
Marigold: Operating Outlook 2017 2018 2019 2020 2021 Gold production (Koz) 205 – 215 200 – 210 225 – 235 205 – 215 230 – 240 Cash costs ($/oz) $655 – $705 $830 – $880 $740 – $790 $660 – $710 $550 – $600 Capital investment ($M) $30 $35 $25 $20 $25 Capitalized deferred $20 $15 $15 $30 $70 stripping ($
Slide 10: 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
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
Slide 12: 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
Slide 13: OE Case Study: Marigold Mine Power Cost Reduction
OE 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 p
Slide 14: 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 Deep sulphide exploration $1.92 Mining Cost per Tonne $1.74 $1.70 $1.65 $1.65 $1.67 $1.61 $1.62 $1.57 $1.54 $1.55 $1.52 $
Slide 15: 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
Slide 16: 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
Slide 17: 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
Slide 18: 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 19: Seabee Gold Operation
SEABEE GOLD OPERATION HIGH GRADE GOLD MINE
Slide 20: 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 21: OE Case Study: Seabee Stripping Circuit and Gold Inventory
OE 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 t
Slide 22: OE Case Study: Seabee Gold Recovery Improvement
OE 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 2
Slide 23: OE Case Study: Seabee Cemented Rock Fill Results
OE 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
Slide 24: 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 25: 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 26: 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 27: 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 28: 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 29: 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 30: 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 31: 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 31
Slide 32: PEA: Stope Production By Year
PEA: Stope Production By Year Notes: The Seabee Gold Operation PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and t
Slide 33: 2017 Santoy Exploration
2017 Santoy Exploration 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) 2.8m at 6.5g
Slide 34: 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 35: 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 36: 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 37: Puna Operations
PUNA OPERATIONS LARGE-SCALE SILVER PRODUCER
Slide 38: 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; operating life throug
Slide 39: OE Case Study: Pirquitas Cost Reductions
OE 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 Ju
Slide 40: 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 41: 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 42: 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 43: Puna Operations Looking Ahead
Puna Operations Looking Ahead 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) Pirqu
Slide 44: 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 45: SIB Project: Potential at depth intercepted prospective volcanic rocks
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 46: 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 47: 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 48: Delivering value and growth for our shareholders
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 48
Slide 49: Value & Growth
Value & Growth SSRM:NASDAQ/TSX PAGE 49
Slide 50: 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 51: 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 52: 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
Slide 53: 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 54: 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 55: Mineral Reserves
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 56: 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 57: 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 58: 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 59: 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 60: 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 61: 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 62: Notes
Notes SSRM:NASDAQ/TSX PAGE 62
Slide 63: Notes
Notes SSRM:NASDAQ/TSX PAGE 63
Slide 64: SSR Mining Inc.
SSR Mining Inc. www.ssrmining.com Toll-free: +1 888.338.0046 Telephone: +1 604.689.3846 Email: invest@ssrmining.com