Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Silver Standard Resources — Prospectors & Developers Association of Canada (PDAC) Conference 2016

38 slides from Ssr Mining's conference presentation, Mar 7, 2016

  1. Slide 1: Creating Value

    CREATING VALUE March 2016 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: Meeting Agenda

    Meeting Agenda  Silver Standard Corporate Overview  Claude Resources Acquisition Summary SSRI:NASDAQ │SSO:TSX │March 2016 3

  4. Slide 4: Why Silver Standard?

    Why Silver Standard? Strong Operating Performance & Free Cash Flow  Free cash flow ASSETS  Two large mines  Focused portfolio  $212M in cash  $88M in marketable CAPITAL securities  Strong balance sheet  Experienced team MANAGEMENT  In-country expertise  Deliver to plan Note: Cash and market

  5. Slide 5: 2015: A Year of Records

    2015: A Year of Records Record Production 207,006 oz gold and 10.3M oz silver Low Cash Costs $692/oz gold and record low $10.68/oz silver AISC lower year-on-year $895/oz gold, 25% lower, and $12.44/oz silver, 22% lower Free Cash Flow Increased cash balance to $212M, up by $27M Operating Cash Flow $9

  6. Slide 6: Marigold: Growth in Nevada

    MARIGOLD GROWTH IN NEVADA SSRI:NASDAQ │SSO:TSX │March 2016 6

  7. Slide 7: Track Record of Growth and Performance

    Track Record of Growth and Performance  Open pit, run-of-mine heap leach gold operation  Continuous production since 1988  Strong safety and environmental practices  Excellent infrastructure Twin Creeks Goldstrike MARIGOLD Maverick Springs Phoenix  YE 2015: Produced record 207,006 oz Au at cash

  8. Slide 8: Operational Excellence

    Operational Excellence Long-term Cost Savings $1.92 Mining cost per tonne $1.74 $1.70 $1.65 $1.61 $1.62 $1.57 $1.54 $1.48 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Lowering Costs Savings of 1₵ cost per tonne mined = $750,000 annually Notes: Annual savings of $750,000 based

  9. Slide 9: Mineral Resource Discovery

    Mineral Resource Discovery Valmy and Mud Pits  Three new higher-grade mineralized 8SX HideOut centers discovered in last 15 months  8SX: 91.4 meters at 2.48 g/t Au A’ 8D  8D: 164.6 meters at 1.67 g/t Au A Terry Zone Basalt Pit  HideOut: 76.2 meters at 2.47 g/t Au 1 km N Reserve Pits 2015 Resourc

  10. Slide 10: Pirquitas: Large Open-Pit Silver Mine

    PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NASDAQ │SSO:TSX │March 2016 10

  11. Slide 11: Pirquitas Cash Costs Trending Down

    Pirquitas Cash Costs Trending Down $25 10.3 8.0 - 10.0 10 8.7 $19.70 8.6 $20 8.2 $16.88 8 Cash costs per payable Silver Production (Moz) ounce of silver sold 7.1 $15 $12.87 $10.50 - $12.50 6 $12.08 $10.68 $10 4 $5 2 $0 0 2011 2012 2013 2014 2015 Guidance 2016 Lowering Costs Achieved record low cash

  12. Slide 12: Chinchillas Project

    Chinchillas Project Potential to Extend Pirquitas Operating Life  Silver-zinc-lead deposit located 30 km from Pirquitas  +10,000 meters infill drilling completed in Q4 2015  61 meters at 673 g/t silver  50 meters at 637 g/t silver  38 meters at 278 g/t silver  $7.5M planned in 2016 for explora

  13. Slide 13: 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  Co

  14. Slide 14: Properties, Projects and Production

    Properties, Projects and Production Over $570M Cash from Divestments 10 1 8 7 7. Candelaria 1. Marigold 11 8. Maverick 3 Springs 5. Diablillos 9 3. Pitarrilla 9. San Marcial 2. Pirquitas 6. Berenguela 4. San Luis 10. Sunrise Lake 4 6 11. Parral 2 5 SSRI:NASDAQ │SSO:TSX │March 2016 14

  15. Slide 15: A High-Quality Intermediate Precious Metals Producer

    A HIGH-QUALITY INTERMEDIATE PRECIOUS METALS PRODUCER Combining Margin and Scale SSRI:NASDAQ │SSO:TSX │March 2016 15

  16. Slide 16: Transaction Summary

    Transaction Summary Terms and Conditions  Total equity value of approximately C$337 million  Acquisition of all outstanding common shares of Claude via Plan of Arrangement Proposed  All outstanding options to purchase Claude common shares will be exchanged for options to Transaction purchase Silv

  17. Slide 17: Transaction Highlights

    Transaction Highlights  Establishes a high-quality intermediate precious metals producer with margin and scale in attractive mineral belts and political regions  Combined company is expected to produce ~390,000 gold equivalent ounces at cash costs of ~$735 per Au Eq ounce sold in 2016  Immediatel

  18. Slide 18: Pro Forma Capitalization and Balance Sheet

    Pro Forma Capitalization and Balance Sheet Claude Silver Units Resources Pro Forma Standard (at offer) TSX Share Price C$ $8.93 $1.65 $8.93 FDITM Shares Outstanding M 82 204 119 FDITM Market Capitalization C$M 730 337 1,066 Cash and Marketable Securities US$M 300 30 330 Total Debt US$M 269 14 283 Fi

  19. Slide 19: Diversified Operating and Geopolitical Platform

    Diversified Operating and Geopolitical Platform Santoy and Seabee Mines Other Development / Exploration Peru (San Luis) Location Saskatchewan, Canada Development Assets Mexico (Pitarrilla) Argentina (Diablillos) Operation Type Underground, Mill Processing Canada (Amisk, Sunrise Lake) 2016E Productio

  20. Slide 20: Claude: Improved Operating & Financial Profile

    Claude: Improved Operating & Financial Profile Higher gold grade and lower costs … … has led to increased cash balance $40 Cash, Short Term Investments & Bullion (C$M) 100 $40 $983 $1,000 $836 76 Cash Cost (C$/oz Au) 75 $30 Production (Koz Au) $800 63 $669 $600 50 44 $20 $400 $12 25 $10 $200 $2 0 $0

  21. Slide 21: Santoy and Seabee Opportunities

    Santoy and Seabee Opportunities  Operational excellence program for continued safety and efficiency improvements  Areas to target: mine planning, plant throughput and gold recoveries  Exploration potential for resource and reserve expansion  Underexplored land package of over 19,000 hectares  C

  22. Slide 22: Seabee: Large, Underexplored Land Package

    Seabee: Large, Underexplored Land Package ~25 km Well Positioned to Increase Exploration Total exploration spend from 2013 to 2015 of ~C$2.5 million Notes: Exploration spend for Claude Resources includes actual spend in 2013 and 2014 and exploration spend guidance for 2015. SSRI:NASDAQ │SSO:TSX │ CR

  23. Slide 23: High Quality Producer with Margin and Scale

    High Quality Producer with Margin and Scale 2016 Production Estimates (Koz Au Eq) 554 440 392 392 381 324 287 250 178 151 144 CDE AGI Pro Forma HL NGD SSO KGI P MND KDX AR 2016 Cash Costs Estimates (US$/oz Au Eq) $789 $803 $763 $774 $709 $730 $735 $696 $575 $543 $452 NGD P KDX KGI HL AGI Pro Forma M

  24. Slide 24: Leading Mid-Cap Precious Metals Producer

    Leading Mid-Cap Precious Metals Producer Market Capitalization (US$M) $1,913 $1,389 $1,007 $795 $739 $690 $542 $404 $277 $268 $188 NGD AGI HL Pro Forma KGI CDE SSO KDX P MND AR Cash & Marketable Securities (US$M) Net Cash (US$ M) ($452) $46 $31 ($22) ($347) ($365) ($12) ($9) ($85) $42 $28 $336 $330

  25. Slide 25: Creating Value and Growth

    Creating Value and Growth Combines operations with margin and scale Accelerates production growth and exploration Maintains strong financial position Adds underground mining skillset An immediately accretive transaction Enhances credit quality and trading liquidity SSRI:NASDAQ │SSO:TSX │ CRJ:TSX │Ma

  26. Slide 26: Value & Growth

    Value & Growth SSRI:NASDAQ │SSO:TSX │March 2016 26

  27. Slide 27: Appendix

    APPENDIX SSRI:NASDAQ │SSO:TSX │ CRJ:TSX │March 2016 27

  28. Slide 28: 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

  29. Slide 29: 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

  30. Slide 30: 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

  31. Slide 31: 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

  32. Slide 32: Pro Forma 2016 Guidance

    Pro Forma 2016 Guidance Silver Standard Claude Pro Forma Gold Gold Silver Gold Equivalent 200,000 – 8.0 – 10.0 65,000 – 370,000 – Production 210,000 oz Moz 72,000 oz 414,000 oz Cash Costs $690/oz – $10.50/oz – $525/oz – $690/oz – (US$/oz) $740/oz $12.50/oz $580/oz $780/oz Notes: Pro forma gold equiv

  33. Slide 33: 2016 Guidance

    2016 Guidance Improved Marigold 2016 production and cash costs guidance Units Marigold Pirquitas Gold Production oz 200,000 – 210,000 – Silver production Moz – 8.0 – 10.0 Zinc production Mlb – 0.0 – 5.0 Cash costs per payable ounce sold $/oz $690 – $740 $10.50 – $12.50 Capital expenditures $M $32 $5

  34. Slide 34: 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 Gustavo Herrero COO Beverlee Park John DeCooman VP, Business Development and Strategy Ric

  35. Slide 35: Ownership Summary and Relative Performance

    Ownership Summary Top 10 Shareholders % of Shares Outstanding Holdings by Investor Class Van Eck Value 7.1% Kopernik Global Investors 3.9% Renaissance Technologies 2.6% Investec Asset Management 2.6% Institutional Sun Valley Gold 2.4% 47% 53% Retail and Other Wells Capital Management 1.9% Sentry Sel

  36. Slide 36: Marigold Exploration Success

    Marigold Exploration Success Illustrative Cross Section through HideOut Center W E 485590 486090 Conceptual Pit Shell 1600 Rock Stockpile 61m at 0.1 g/t 1500 91m inter-burden 76m at 2.5 g/t 1400 Pre-Mining Gold (g/t) Surface <0.06 0.06 - 0.6 0.6 – 1.2 Illustrative Gold 485840 > 1.2 1300 Grade Model

  37. Slide 37: 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

  38. Slide 38: Silver Standard Resources Inc. / Claude Resources Inc. Contacts

    Silver Standard Resources Inc. Claude Resources Inc. Website: www.silverstandard.com Website: www.clauderesources.com Email: invest@silverstandard.com Email: ir@clauderesources.com Toll-free: 1.888.338.0046 Telephone: 1.306.668.7505 Telephone: 1.604.689.3846 Fax: 1.306.668.7500

Silver Standard Resources — Prospectors & Developers Association of Canada (PDAC) Conference 2016 on 6ix