Aris Mining Reports Q3 2023 Financial And Operating Results: Net Earnings Of $12.4m, Adjusted Ebitda(1) Of $41.6m

VANCOUVER, Nov. 8, 2023 - Aris Mining Corp. (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces financial and operating results for the three and nine months ended September 30, 2023 (Q3 2023 and YTD 2023). All amounts are in US dollars unless otherwise indicated.

Aris Mining CEO Neil Woodyer stated: "During Q3 2023, our high-grade Segovia Operations delivered strong results contributing to total gold production of 60,193 ounces, an 11% increase over Q2 2023. Aris Mining is firmly on track to achieve our 2023 production guidance of 220,000 to 240,000 ounces. Over the nine months ended September 30, our mines generated $54.9 million in free cash flow from operations¹ which funded $55.5 million in growth and expansion investments. We ended Q3 2023 with cash and cash-equivalents of $211 million.

In September 2023, we commenced construction of the Marmato Lower Mine and spending is expected to ramp up as construction progresses into 2024. This project is fully funded from our current cash, operating cash flow, and dedicated stream financing. This new underground mine will provide access to the wider and large-scale porphyry mineralization below the currently operating Upper Mine, which allows for more efficient bulk mining methods in the Lower Mine. Additionally, we have completed $10.5 million of a planned $17 million strategic exploration and infill drill program at the Segovia Operations. Segovia has a history of expanding its gold mineral resources and the recent estimate announced last week signifies a leap forward, as the current measured and indicated mineral resource has surged by 114% to reach 3.6 million ounces at 14.34 g/t Au (see News Release - November 2, 2023). We are now in the process of updating the mineral reserve estimates, which is expected by the end of November."

Operations Review - Segovia Operations

Aris Mining Quarterly and YTD Cashflow Generation - 2023 (US$ million)

Mineral Resource Estimates (MRE) - Segovia Operations

Aris Mining's Q3 2023 interim financial statements and related MD&A are available on SEDAR+, in its filings with the U.S. Securities and Exchange Commission (the SEC), and in the Financials section of Aris Mining's website here.

Q3 2023 Conference Call Details

Management will host a conference call and webcast on Thursday, November 9, 2023 at 9:30 am PT / 12:30 pm ET.
Webcast link: https://services.choruscall.ca/links/arismining2023q3.html

Participants can pre-register to join the call automatically, at:

https://services.choruscall.ca/DiamondPassRegistration/register?confirmationNumber=10022576&linkSecurityString=1a2bc09050

Replay Dial-in: Canada/USA +1.800.319.6413
International +1.604.638.9010
Replay access code 0482

After the conference call, a replay of the event will be available at Aris Mining Corp. - Investors - Events & Presentations (aris-mining.com).

About Aris Mining

Aris Mining is a gold producer in the Americas with a growth-oriented strategy. In Colombia, Aris Mining operates several high-grade underground mines at its Segovia Operations and the Marmato Mine, which together produced 235,000 ounces of gold in 2022. Aris Mining is currently advancing construction of the Marmato Lower Mine Expansion project, which will provide access to wider porphyry mineralization below the current Upper Mine. Aris Mining also operates the Soto Norte Project joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper project. Aris Mining plans to pursue acquisitions and other growth opportunities to unlock value creation from scale and diversification.

Aris Mining promotes the formalization of artisanal and small-scale mining as this process enables all miners to operate in a legal, safe and responsible manner that protects them and the environment.

Additional information on Aris Mining can be found at www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.

Cautionary Language

Non-IFRS Measures

Free cash flow, cash costs ($ per oz sold), AISC ($ per oz sold), EBITDA, adjusted EBITDA, adjusted (loss)/earnings and expenditures on growth capital are non-IFRS financial measures and non-IFRS ratios. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. For full details on these measures and ratios refer to the "Non-IFRS Measures" section of the Company's Management's Discussion and Analysis for the three months and nine months ended September 30, 2023 (MD&A). The MD&A is incorporated by reference into this news release and is available on the Company's profile on SEDAR+ at www.sedarplus.ca and in its filings with the SEC at www.sec.gov .

The tables below reconcile the non-IFRS financial measures contained in this news release for the current and comparative periods to the most directly comparable financial measure disclosed in the Company's Q3 2023 interim financial statements.

Total cash costs

All-in sustaining costs (AISC)

The table below reconciles the cash cost per ounce sold and the AISC per ounce sold for ore sourced from owner-operated mines and other partner-operated mines to the totals for the consolidated Segovia Operations:

Additions to mineral interests, plant and equipment

Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA

Adjusted net earnings and adjusted net earnings per share

Forward-Looking Information

This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the Company being on track to achieve its 2023 production guidance, the expected benefits and timing related to the Marmato Lower Mine expansion, plans with respect to updating the mineral resource and reserve estimates and the timing thereof and the Company's plans and strategies are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this presentation.

Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 31, 2023 and in the section entitled "Risks and Uncertainties" in the MD&A, which are both available on SEDAR+ at www.sedarplus.ca and in the Company's filings with the SEC at www.sec.gov.

Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.

This news release contains information that may constitute future-orientated financial information or financial outlook information (collectively, FOFI) about the Company's prospective financial performance, financial position or cash flows, all of which is subject to the same assumptions, risk factors, limitations and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise or inaccurate and, as such, undue reliance should not be placed on FOFI. The Company's actual results, performance and achievements could differ materially from those expressed in, or implied by, FOFI. The Company has included FOFI in order to provide readers with a more complete perspective on the Company's future operations and management's current expectations relating to the Company's future performance. Readers are cautioned that such information may not be appropriate for other purposes. FOFI contained herein was made as of the date of this news release. Unless required by applicable laws, the Company does not undertake any obligation to publicly update or revise any FOFI statements, whether as a result of new information, future events or otherwise.

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SOURCE Aris Mining Corp.