SSR MINING INC

The disclosure in this Item 2. Properties of a scientific or technical nature for each material property is based on the Technical Report Summary on the Çöpler Property, Türkiye, with an effective date of October 31, 2023 (the “Çöpler TRS”), the Technical Report Summary on the Marigold Complex, Nevada, USA, with an effective date of September 30, 2023 (the “Marigold TRS”), the Technical Report Summary on the Seabee Gold Operation, Saskatchewan, Canada, with an effective date of December 31, 2023 (the “Seabee TRS”), and the Technical Report Summary on the Puna Operations, Argentina, with an effective date of December 31, 2023 (the “Puna TRS” and, collectively with the Çöpler TRS, the Marigold TRS, and the Seabee TRS, the “Technical Report Summaries” and each a “Technical Report Summary”). Each Technical Report Summary has been filed with the SEC as part of the Company’s Current Report on Form 8-K filed on February 13, 2024 and each Technical Report Summary has been filed as an exhibit to this Annual Report and incorporated by reference herein and is available for review on EDGAR at www.sec.gov. Please note, the TRS for Çöpler had an effective date of October 31, 2023 and as such does not reflect the impact of the Çöpler Incident. The operating and economic assumptions, along with the mineral reserve, mineral resources, cost estimates and other findings contained in such TRS, may no longer be accurate and, when more information is available regarding the operations at Çöpler, the TRS may need to be amended.

Each Technical Report Summary will also be filed with the applicable securities regulatory authorities in Canada as a technical report in compliance with National Instrument 43-101 –Standards of Disclosure for Mineral Projects (“NI 43-101”), and will be available for review on SEDAR+ at www.sedarplus.ca. The Technical Report Summaries should be read in conjunction with the information in this Item 2. Properties. This Item 2. Properties does not take into account the Çöpler Incident as the impact of the incident on the operations of Çöpler (as defined below) is not yet known. See “Item 1. Çöpler Incident,” for more information.

Additional Mining Company Financial Information

The Company is listed on Nasdaq, TSX and the Australian Stock Exchange and is subject to the ongoing disclosure and reporting requirements, including those required of a mineral resource company, in both the United States and Canada. The mineral resource company disclosure requirements in each country are different. As a result, certain additional disclosures have been included in this “Item 2. Properties” to comply with requirements under Canada’s National Instrument 51-102 –Continuous Disclosure Obligations(“NI 52-101”) and 43-101. Certain of these additional disclosures include financial measures that are customary in the mining industry, including capital costs and operating costs, which have been calculated in a manner that is not in accordance with U.S. GAAP. There are no standardized definitions or comparable financial measures under U.S. GAAP for these mining industry non-GAAP financial measures. As a result, we have not identified a comparable financial measure calculated under U.S. GAAP and we have also not provided a reconciliation of these mining industry non-GAAP financial measures to a U.S. GAAP financial measure. We believe investors rely on these mining industry non-GAAP financial measures to assist in an evaluation and comparison of the operating performance of mining companies. These disclosures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. These mining industry non-GAAP financial measures should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation” and our consolidated financial statements included elsewhere in this Annual Report.

Summary Disclosure

The following descriptions summarize selected information about the Company’s four producing assets (Çöpler, Marigold, SGO, and Puna, each as defined below), exploration property at Amisk, and development property at Hod Maden as of December 31, 2023. All of the Company’s producing properties are wholly owned except for Çöpler, which is 80% owned by SSR through a joint venture agreement.

The Çöpler Property (“Çöpler”) is comprised of the Çöpler Mine, Greater Çakmaktepe Mine, and associated processing facilities. Both Çöpler Mine and Greater Çakmaktepe Mine are open pit gold mines located along the Tethyan belt in east-central Türkiye’s Erzincan Province. Çöpler contains oxide and sulfide ores which are mined concurrently and processed through its two separate processing circuits. Gold contained in oxide ore is recovered through heap leach processing to produce gold doré with a minor by-product of copper concentrate, while gold sulfide mineralization is subjected to pressure oxidation and carbon-in-leach processing, to produce gold doré. Further information on Çöpler is included herein under the “Çöpler Property, Erzincan Province, Türkiye” section and detailed disclosure of a scientific or technical nature regarding Çöpler is available in the Çöpler TRS. All operations at Çöpler have ceased following the Çöpler Incident and we are unable to determine at this time when operations at Çöpler will resume, if at all. See “Item 1. Business - Çöpler Incident,” for more information.

The Marigold Property (“Marigold”) is comprised of the Marigold Mine (including Mackay, Valmy, and New Millennium), Buffalo Valley, and other minor deposits. The Marigold Mine is an open pit gold mine located along the northern margin of the Battle Mountain-Eureka Trend in Nevada, USA. Marigold is a run-of-mine heap leach operation producing gold doré. Further information on Marigold is included herein under the “Marigold Complex, Nevada, United States” section and detailed disclosure of a scientific or technical nature regarding Marigold is available in the Marigold TRS.

The Seabee Gold Operation (“SGO”) is an underground gold mine complex located along the Trans-Hudson Corridor in east-central Saskatchewan, Canada. Seabee processes ore using gravity concentration, cyanide leaching, and carbon-in-pulp to produce gold doré. Further information on Seabee is included herein under the “Seabee Gold Operation, Saskatchewan, Canada” section and detailed disclosure of a scientific or technical nature regarding Seabee is available in the Seabee TRS.

The Puna Property (“Puna”) is comprised of the Chinchillas open pit mine and the Pirquitas deposit consisting of Cortaderas, Potosi breccia, Oploca, and San Miguel vein systems. Puna is a silver-lead-zinc mine complex located along the silver belt in northern Argentina in the Province of Jujuy. Puna processes ore mined from the Chinchillas mine through its Pirquitas flotation processing mill to produce a silver-lead and a zinc concentrate. Further information on Puna is included herein under the “Puna, Jujuy Province, Argentina” section and detailed disclosure of a scientific or technical nature regarding Puna is available in the Puna TRS.

Exploration and Development

Amisk, Canada Exploration

The Amisk property is 39,880 hectares (and 126 claims) with extensive Proterozoic-volcano-sedimentary rock assemblages that are prospective for gold-silver epithermal, gold-rich volcanogenic massive sulfide, and orogenic gold deposits. The property is located within the northern Saskatchewan, Canada, centered at approximately 54°42’ North latitude and 102°15’ West longitude .

Amisk lies at the southwest exposed end of the Flin Flon Greenstone Belt, the southernmost exposure of the Trans-Hudson Orogeny. The Amisk gold deposit is hosted within the Amisk and Missi Groups rocks. To date, 322 drillholes for 58,283 meters have been completed in the Amisk property area.

Hod Maden, Türkiye

On May 8, 2023, the Company acquired a 10% ownership interest and operatorship in the Hod Maden gold-copper project in Türkiye. SSR Mining has the option to acquire an additional 30% of Hod Maden connected to the completion of project construction spending milestones. Hod Maden is located approximately 20 kilometers south of Artvin and 130 kilometers northeast of Erzurum in northeastern Türkiye, near the border with Georgia. The project is centered at approximately 40°59′ North latitude and 41°51′ East longitude.

The Hod Maden property is 3,511 hectares (1 claim) within the Eastern Pontides tectonic belt along the south-eastern Black Sea coastline of Türkiye. The Hod Maden deposit is on the eastern margin of an extensive domain of Cretaceous-age arc-related volcanic stratigraphy, which hosts several volcanogenic massive sulfide deposits (“VMS”) to the northwest, such as Çayeli.

Hod Maden is structurally complex. Many faults, including low-angle and steeply dipping structures, have been identified. Significant mineralization occurs within the Hod Maden Fault Zone, a north-northeast striking corridor of gossanous and locally argillic/phyllic hydrothermally altered rock up to 300 meters wide and more than seven kilometers along strike. Locally, it has intense pyrite/chalcopyrite mineralization with a significant component of supergene clay alteration.

To date, a total of 369 drillholes for 89,037 meters have been completed in the Hod Maden property area, including 14 drillholes for 4,756 meters drilled in 2023 since the acquisition of Hod Maden.

Çöpler, Erzincan Province, Türkiye

The following information has not taken into account the impact of the Çöpler Incident. The following information about Çöpler is as of December 31, 2023 only. As described in “Item 1. Business - Çöpler Incident,” all operations at Çöpler have ceased following the Çöpler Incident and we are unable to determine at this time when operations at Çöpler will resume, if at all. Additionally, we have not determined the costs associated with remediation. Finally, we have not determined that, if we resume operations at Çöpler, the information presented below, including the mineral resources and reserves presented under “ – Resource and Reserve Estimates” and the estimated capital and operating costs for the expected life of the mine (prior to the Çöpler Incident) under “– Capital and Operating Costs” below, continues to be accurate or will be accurate at such time as the Company resumes operations at Çöpler.

Çöpler consists of mining licenses covering mineral resources on the Çöpler, Greater Çakmaktepe (Çakmaktepe and Çakmaktepe extension), and Bayramdere deposits, mineral reserves on the Çöpler and Greater Çakmaktepe deposits, oxide and sulfide processing facilities, and supporting infrastructure. Çöpler is wholly owned by Anagold Madencilik Sanayi ve Ticaret Anonim Şirketi (“Anagold”). SSR Mining controls 80% of the shares of Anagold through a joint venture; Lidya Madencilik Sanayi ve Ticaret A.Ş. (“Lidya”) controls 18.5%; and a bank wholly‑owned by Çalık Holdings A.Ş. holds the remaining 1.5%. Greater Çakmaktepe is wholly owned by Kartaltepe Madencilik Sanayi ve Ticaret Anonim Şirketi (“Kartaltepe”). SSR controls 80% of the shares of Kartaltepe and Lidya holds the remaining 20%. The Kartaltepe license includes Çakmaktepe, Çakmaktepe Extension, Bayramdere, and the Mavialtin Porphyry Belt. SSR Mining is the operator of both Anagold and Kartaltepe. All of the processing facilities and operating assets are located on land owned by Anagold. In total, 80% of the Mineral Resources and 80% of the Mineral Reserves of Çöpler are owned by SSR Mining.

The total cost of Çöpler’s gross mineral properties, plant, and equipment as of December 31, 2023 was $2,874 million.

Çöpler is located in east central Türkiye, 120 kilometers west of the city of Erzincan, in Erzincan Province, 550 kilometers east of Türkiye’s capital city, Ankara. The nearest urban center, İliç, is located approximately 6 kilometers northeast of the Çöpler mine. The property is centered at approximately 39°26’ North latitude and 38°32’ East longitude and has an approximate elevation of 1,160 meters above mean sea level. Çöpler is accessed from the main paved highway between Erzincan and Kemaliye and is serviced by both road and rail networks. Mining operations are conducted year-round.

The Çöpler mining operations fall within the license areas numbered 847, 49729, and 20067313, which have been granted by the General Directorate of Mining and Petroleum Affairs within Türkiye. The Greater Çakmaktepe mining operation is located six kilometers east of the Çöpler pit and 1.5 kilometers south of İliç. The Greater Çakmaktepe pits are located within Kartaltepe License 1054 and Anagold Licenses 49729 and 20067313. Ore mined at Greater Çakmaktepe is hauled and treated at the Çöpler facilities.

Anagold holds mineral title and the exclusive right to engage in mining activities within the Çöpler property area. Anagold holds six granted licenses covering a combined area of approximately 16,600 hectares. Kartaltepe holds six licenses covering approximately 7,250 hectares. The total near-mine tenement package is approximately 23,850 hectares.

Kartaltepe sells Anagold ore from Çakmaktepe at an agreed rate. SSR Mining holds a 2% net smelter return (“NSR”) on the Kartaltepe licenses, receivable after repayment of a historical royalty pre-payment.

Under Turkish Mining Law, the royalty rate for precious metals is variable and tied to metal prices. Çöpler is subject to a mineral production royalty that is based on a sliding scale to gold price and is payable to the Turkish government. In September 2020, a presidential decree was issued, increasing the prescribed royalty rates by 25%. As Çöpler produces its gold doré on-site, it is eligible for a 40% reduction to the royalty rate, an incentive offered to process ore locally.

History

The Çöpler region has been subject to gold and silver mining dating back to Roman times. The Turkish Geological Survey in the early 1960s conducted regional geological mapping.

In 1998, Anatolia Minerals Development Ltd (“Anatolia”) applied for exploration licenses that included Çöpler basin. In August 2009, a joint venture agreement between Anatolia and Lidya was executed. In February 2011, Anatolia merged with Avoca Resources Limited, an Australian company, to form Alacer Gold Corp., which further merged with SSR Mining in September 2020.

Çöpler is located near the northern margin of a collision zone between the Pontide Belt/North Anatolian Fault, the Arabian Plate, and the East Anatolian Fault.

The Çöpler district deposits (Çöpler, Greater Çakmaktepe, and Bayramdere) are best classified as epithermal, disseminated, and skarn deposits related to porphyry copper-gold systems. Mineralizing fluids, derived from the intrusions, were primarily controlled by structural fluid pathways and lithology, including traps controlled by lithological contacts, resulting in replacement, vein and stockwork mineralization.

The deposits at Çöpler occur within fault and shear structures, at contacts between intrusions and marble, as disseminated bodies outboard of contact zones, and as gossans.

Mining operations at Çöpler and Greater Çakmaktepe are carried out by a mining contractor and managed by Anagold. The mining method is a conventional open pit method with drill and blast, utilizing excavators and trucks operating on bench heights of 5 meters. The mining contractor provides operators, line supervisors, equipment, and ancillary facilities required for the mining operation. Anagold provides management, technical, mine planning, engineering, and grade control functions for the operation.

The facility infrastructure currently supports the mine, oxide heap leach, and sulfide plant processing facilities. A pre-feasibility level study for a grind-leach circuit, which would aid in increasing gold recovery from oxide ore, was completed during 2023 and is expected add to the facilities on site. Prior to the Çöpler Incident, the current leach pad consisted of four phases designed to accommodate approximately 63 million tonnes of oxide ore with a nominal maximum heap height of 100 meters above the pad liner, with additional phases in development.

The tailings storage facility is developed and constructed in stages with ongoing work to ensure sufficient long-term capacity for storage of tailings. The flotation plant has been in operation for 3 years and increased the solids content and improved the final settled density based on an increase in the rate of tailings consolidation.

The power supply for the Çöpler mine and processing facilities is provided via a 154 kV transmission line to site. Existing mine site facilities are located primarily within the Çöpler and Sabırlı Creek watersheds immediately upstream of their confluence with the Karasu River. The current Çöpler workforce totals 478 employees.

Operation of the Çöpler mining and processing facilities and mining at Greater Çakmaktepe, have been investigated and authorized by means of a series of Environmental Impact Assessments (“EIAs”). The currently permitted Çöpler EIA boundary incorporates 1,747 hectares. The currently permitted Greater Çakmaktepe EIA boundary incorporates 360 hectares, and the Company is in the process of submitting an EIA to increase the permitted boundary to 486 hectares.

Oxide Testwork

The heap leaching facilities were commissioned at the Çöpler mine site in late-2010 and have operated continuously since that time until the Çöpler Incident.

Oxide gold recoveries vary by lithology. The range for Çöpler is 62.3%–78.4%, the range for Çakmaktepe Main is 61%–80%, and for Çakmaktepe Extension, the testwork suggest recoveries will range 40%–73%. The heap leaching facilities and related equipment and operations were principally impacted by the Çöpler Incident. These facilities are, at this time, not operational.

Sulfide Testwork

The sulfide process plant commenced commissioning in the fourth quarter of 2018. The plant consists principally of a pressure oxidation (POX) leach followed by a cyanide leach to recover gold. The sulfide process plant was not impacted by the Çöpler Incident. The facilities are operational, but have been suspended. If the Company is permitted to resume operations at Çöpler, it does not appear at this time that the sulfide plant would require repair work to be operational.

The current determination of POX gold recovery is based on assessment of results for the pilot testwork programs undertaken prior to commencement of operations and benchmarked with the existing operating data. An equation has been derived to calculate gold recovery by material type for all ore that is subject to POX; this includes direct POX feed and flotation concentrate. The Reserve Case average sulfide gold recovery is 91%.

Grind-Leach Testwork

In support of the Çöpler Expansion project, testwork was commissioned in 2023 to better understand the benefit of conventionally milling the oxide resource existing at the Çakmaktepe Extension. ALS Kamloops completed direct cyanidation testing by standard cyanide bottle roll tests of four variability samples and a jasperoid sulfide master composite. The leach feed grind size target was a P 80 of 75 µm. Gold recovery ranged from 60% to 90% depending upon lithology with the jasperoid material exhibiting slight refractory characteristics at the lower end of the reported range.

The Company currently operates a sulfide process plant and an oxide heap leach facility.

The oxide heap leaching facilities were commissioned at the Çöpler mine site in the second half of 2010 with initial gold production achieved in the fourth quarter of 2010. The process has a nominal design capacity of 6.0 million tonnes per annum of ore by three-stage crushing (primary, secondary, and tertiary) to 80% passing 12.5 millimeters, agglomeration, and heap leaching on lined heap leach pads with dilute alkaline sodium cyanide solution. Gold is recovered through a carbon in-column system, followed by stripping of metal values from carbon, electrowinning, and smelting to yield a gold doré suitable for sale. Control of copper in leach solutions is undertaken in a sulfidization, acidification, recovery, and thickening (“SART”) plant, which produces a copper sulfide concentrate for sale and regenerates cyanide.

The basic flow of processing through the sulfide plant is as follows:

The incorporation of a flotation circuit into the existing sulfide plant to upgrade sulfide sulfur to fully utilize grinding and POX autoclave capacity was constructed and commenced ore production at the end of January 2022. This addition to the sulfide plant is incorporated between grinding and acidulation by taking a bleed/slip stream from the grinding thickener feed, floating sulfides, and returning the sulfide concentrate to the grinding thickener to be combined with direct autoclave feed. Gold in the flotation tails (i.e., not recovered to the flotation concentrate) is combined with the material that was processed through the POX autoclave circuit; this combined stream then goes to the gold leaching and recovery circuits for gold recovery.

Since completing ramp-up of the sulfide plant in June 2020, POX throughput has progressively improved to exceed design up to a monthly average peak of 350 tonnes per hour and at the maximum sulfide sulfur of 14.25 tonnes per hour. Gold recovery has remained at around 90% with the tailings grade ranging between about 0.25–0.30 grams of gold per tonne.

The following tables summarize the Company’s estimated gold reserves and resources reflecting only the reserves and resources attributable to SSR Mining’s ownership or economic interest as of December 31, 2023. Additionally, see “Proven and Probable Reserve Estimates by Mineral” in this Item 2 for further information on the mineral resources and mineral reserves for Çöpler, and see “Operating Statistics” in this Item 2 for further information on production of the Çöpler operations for the years ended December 31, 2023 and December 31, 2022. A discussion of the changes in mineral resources and mineral reserves from 2022 to 2023 is also included below.

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine and Greater Cakmaktepe. The Mineral Reserve estimates were prepared in accordance with S-K 1300.

(2)Mineral Reserves shown are SSR ownership share only. SSR Owns 80% rights of both the Anagold and Kartaltepe licenses.

(3)Mineral Reserve cut-offs are based on $1,450/oz gold price. Metallurgical gold recoveries for heap leach oxide and grind leach varies between 40-78% and 53-90% respectively based on lithology while for sulfide it is 81-91%. All cut-off values include allowance for royalty payable. Heap leach oxide uses a NSR cut-off $21.32/t, grind leach uses a NSR cut-off value $21.77/t, and sulfide ore uses a cut-off grade of $45.58/t.

(5)There is no copper recovery in sulfide material. Copper oxide recoveries are 6%.

Mineral Reserve Estimates at Çöpler as of December 31, 2023 increased compared to December 31, 2022. Proven and Probable contained gold ounces increased by 85 koz. Factors contributing to the change include: (i) re-interpretation of the mineralized envelopes using the most updated drill hole, blast hole, and geological mapping information, (ii) addition of Leach pad inventory, (iii) change to optimization parameters in terms of processing, geotechnical parameters, change in gold price and cost changes, and (iv) depletion.

(1)Çöpler Mineral Resources include resources from Çöpler Mine, Greater Cakmaktepe, and Bayramdere. Mineral Resources are exclusive of Mineral Reserves. The Mineral Resource estimate was prepared in accordance with S-K 1300.

(2)Mineral Resources shown are SSR ownership share only. SSR owns 80% of both the Anagold and Kartaltepe licenses.

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells.

(5)There is no sulfide material at Bayramdere.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: Çöpler heap leach oxide uses a NSR cut-off $18.34/t, Bayramdere heap leach oxide uses a NSR cutoff of $18.34/t, grind leach oxide uses a NSR cut-off value $19.26/t, and Çöpler sulfide ore uses a cut-off grade of $39.87/t, Greater Çakmaktepe sulfide ore uses a cut-off grade of $44.37/t. All NSR calculated with allowances for payability, deductions, transport, and royalties.

(7)Metallurgical recovery for heap leach oxide and grind leach varies between 40-78% and 53-90%, respectively, based on lithology; metallurgical recovery for sulfide varies between 81-91% based on lithology.

(8)Average silver recoveries are 8%.

(9)Copper oxide recoveries are 8%. There are no recoveries in sulfide material.

(10)Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Mineral Resources exclusive of Mineral Reserves at Çöpler as of December 31, 2023 decreased compared to December 31, 2022. Measured and Indicated contained gold ounces decreased by 1,398 koz and Inferred gold ounces decreased by 2,118 koz. Factors contributing to the changes include: (i) re-interpretation of the mineralized envelopes using the most updated drill hole, blasthole, and geological mapping information, (ii) change to optimization parameters with regards to the removal of copper-gold mineralization associated with the C2 Project, and (iii) depletion.

While employees of the Company that are qualified persons, as defined under S-K 1300, are of the opinion that there are no material changes to the Mineral Resources and Mineral Reserves described herein as compared to the information presented in the Çöpler TRS, the foregoing information does not take into account the impact of the Çöpler Incident.

Core (“Diamond Drilling-DD”) and Reverse Circulation (“RC”) drilling on the property is the principal method of exploration and delineation of gold mineralization after initial targeting using soil sampling and geophysical surveys. Since 2000, the Company’s exploration program within the Çöpler district has identified several new gold-dominant and copper–gold prospects. The gold-dominant regional prospects include the Çöpler Saddle and Elmadere. Copper–gold prospects include Aslantepe, Sarıdere, Fındıklıdere, and Mavidere porphyries located within the Mavialtın Porphyry Belt and the early exploration stage Meşeburnu porphyry located west of the Çöpler deposit.

Drilling at the Çöpler deposit commenced in 2000 and since that time a total of 3,056 holes have been drilled for 428,678 meters. A total of 157 diamond core and 168 RC holes have been completed in 2023 (39,675 meters).

Drilling at Çakmaktepe commenced in 2012. A total of 136 diamond core holes have been completed since 2019 to test for continuation of the Çakmaktepe deposit to the north and the east.

Since the initial discovery of mineralization at Çakmaktepe Extension, Anagold has undertaken several drilling programs to refine the geological model and increase mineral resources. A total of 767 diamond core holes for 162,890 meters at Çakmaktepe Extension from late-2017 through December 2023, including holes for metallurgical testing and hydrogeological studies. During 2023, 108 diamond core holes for 26,454 meters were completed at Çakmaktepe Extension, mainly for resource-reserve definition purposes.

Drilling at Bayramdere commenced in 2007 as part of the near-mine exploration strategy. Since that time 120 holes have been drilled at Bayramdere for a total of 10,734 meters.

During the year ended December 31, 2023, a total of 19 drillholes for 7,261 meters of drilling were completed to validate historical drillholes and expand/define the Mavidere deposit.

Exploration samples are submitted to ALS Global laboratories, an ISO/IEC 17025:2005 certified and accredited laboratory in İzmir, Türkiye, for sample preparation and analysis. Bureau Veritas (Acme) laboratory in Ankara, Türkiye is used for umpire check sample analysis. The drill and geochemical samples are collected in accordance with accepted industry standards.

SSR Mining operates an onsite laboratory at Çöpler to assay grade control and process plant samples. The onsite laboratory is certified to ISO 17025:2017 but is not independent.

Data verification was completed as part of the generation of the mineral resources estimate. All data collected including but not limited to collar location, downhole survey, geological and analytical data are subject to SSR Mining Quality Assurance, Quality Control (“QAQC”) procedure.

The capital and operating cost estimates derived for Çöpler are based on a combination of the data set forth in the Çöpler TRS and budgetary estimates that reflect SSR Mining’s estimates as of December 31, 2023.

As of December 31, 2023, capital costs are estimated to be $632.8 million for the life of Çöpler (life of mine or “LOM”) and are primarily composed of mine and plant equipment, tailings storage expansions, and asset componentization. The Development/Expansion capital cost estimate for the proposed Grind-Leach circuit is $193.8 million. Estimated operating costs for mine operations include both cash and non-cash costs.

Capital costs and operating costs are provided for mineral property disclosure purposes in accordance with NI 51-102 and are, generally, non-GAAP mining company financial measures. See “Additional Mining Company Financial Information” in this Item 2 for more information. Operations at Çöpler are currently suspended and we are unable to determine at this time when operations at Çöpler will resume, if at all. See “Item 1. Çöpler Incident.”

Costs in individual years may vary significantly as a result of, among other things, current or future nonrecurring expenditures and changes to input costs and exchange rates. Please refer to the Çöpler TRS for other key metrics including detailed cash flows by year and net present value computations.

Oxide Grind Leach

The Company is reviewing a proposed process to treat oxide ores from the Çakmaktepe Extension open pit. Based on the information and metallurgical test results, low-sulfur mineralization is amenable to cyanide leaching as a recovery method; grinding the ore prior to cyanide leaching increases both the reaction kinetics and final recoverable metal. The throughput of the proposed plant is two Mtpa. The process is an industry-standard crushing, grinding, leaching, and carbon adsorption plant with recovery of gold and silver from the leach solution by carbon adsorption, desorption, electrowinning, and refining to produce a gold doré. The total connected electrical load for the Oxide Grind Leach plant is 15.4 MW with an average demand of 11.6 MW. The Oxide Grind Leach plant requires 261 m 3/h of make-up water from a combination of raw and process water sources.

Marigold Complex, Nevada, United States

The Marigold Complex (“Marigold”) includes the Marigold Mine (including Mackay, Valmy, and New Millennium), Buffalo Valley, and other minor deposits. Marigold Mine is an open pit mining and processing operation located in Nevada, United States. SSR Mining, through its subsidiary Marigold Mining Company, is the operator of the Marigold Complex and holds a 100% interest in the property.

The total cost of the Marigold Complex’s gross mineral properties, plant, and equipment as of December 31, 2023 was $627.4 million.

Marigold is located in southeastern Humboldt County, in the northern foothills of the Battle Mountain Range, Nevada, U.S, approximately 5 kilometers south–southwest of the town of Valmy, Nevada. Access to the Property is via a five kilometer public road (hard-packed clay and gravel) off the Valmy Exit 216 on Interstate Highway 80. Other nearby municipalities include Winnemucca and Battle Mountain, Nevada, which lie approximately 58 kilometers to the northwest and 24 kilometers to the southeast of the property, respectively. Activities at the property are centered at approximately 40°45′ North latitude and 117°8′ West longitude.

The Marigold Complex includes two main land packages, the Marigold Land Package and the Sterling Land Package (collectively, the “Property” or “project areas”). The Marigold Land Package encompasses approximately 10,477 hectares, including the approximately 3,296 hectares within the Marigold Mine Plan of Operations (PoO). The Sterling Land Package (9,383 hectares) includes properties associated with the Buffalo Valley Mine.

History

Marigold has been in continuous operation for more than 30 years. The first recorded gold production from the Property occurred in 1938 when the Marigold Mining Company operated an underground mine which came to be known as Marigold. The property was explored and developed by various companies and operations from 1968, with two million ounces of gold recovered from Marigold by mid-2009. The Company acquired Marigold in April 2014 from subsidiaries of Goldcorp and Barrick. In August 2015, Marigold mine acquired 2,844 ha of adjacent land from Newmont Goldcorp Corporation. In June 2019, SSR acquired the Buffalo Valley property from Newmont, which is located in an 8,900 ha parcel contiguous to the south boundary of the Marigold property.

Marigold is located in the Battle Mountain mining district of north-central Nevada within the Basin and Range physiographic province bounded by Sierra Nevada to the west and the Colorado Plateau to the east. The Battle Mountain district hosts numerous mineral occurrences, including porphyry copper–gold, porphyry copper–molybdenum, skarn, placer gold, distal disseminated silver-gold, and Carlin-type gold systems. The gold deposits at the Marigold Mine are best classified as Carlin-type gold deposits (CTGD). Gold mineralizing fluids were primarily controlled by fault structure and lithology, with tertiary influence by fold geometry. Gold occurs natively as submicron scale particles in fractures in association with iron oxide. Rocks within the Marigold mine area are oxidized to a maximum depth of approximately 450 meters. The Buffalo Valley gold deposit is a distal disseminated silver-gold deposit and formed along a southeast trending zone of felsic porphyry dikes and faults.

Marigold uses standard open pit mining methods. Mining operations are currently performed using a loading fleet consisting of one electric shovel and three hydraulic shovels and a haulage fleet of 280 tonne trucks. The mine conducts conventional drilling and blasting activities with a free face trim row blast to ensure stable wall rock conditions. Drilling and blasting occur on benches with a height of 15.2 meters. A geotechnical management plan includes highwall monitoring using radar systems. Equipment maintenance is performed on site for all equipment.

The infrastructure facilities at Marigold include ancillary buildings, offices and support buildings, access roads into the plant site, power distribution, source of fresh water and water distribution, fuel supply, storage and distribution, waste management, and communications. The nearby towns of Winnemucca and Battle Mountain, NV host a majority of the skilled labor workforce. The current Marigold workforce totals 478 employees.

The power supply for Marigold is provided by NV Energy Inc. Water for Marigold is supplied from three groundwater wells located near the access road to the Property. Marigold owns sufficient ground water rights to support mine operations. Water is primarily consumed by retention in the heap leach pad, evaporation, processing operations, and dust suppression.

Marigold holds valid permits for all facets of the current mining operation as required by county, state, and federal regulations. The Company engages in concurrent reclamation practices and is bonded for all permitted features, as part of the Nevada permitting process.

Surface and mineral rights at Marigold comprise the following: real property and unpatented mining claims, in each case owned by Marigold, and leasehold rights held by Marigold with respect to unpatented mining claims, mill site claims, and certain surface lands. The Company performs duties on leased lands pursuant to all federal and state requirements to maintain leases in good standing. Some of the leases require Marigold to make certain NSR royalty payments to the lessors and comply with other obligations, including completing certain work commitments or paying taxes levied on the underlying properties.

All Marigold ore deposits are processed via truck dump run-of-mine (“ROM”) heap leaching. Gold recovery from future ore is estimated to be 74.5% based on a review of historical assay and recovery data as well as metallurgical test work on future ore.

Metallurgical studies were performed by Newmont on the Buffalo Valley deposit and subsequently verified by test work conducted by SSR. Based on the results, ROM recoveries at Buffalo Valley vary between 16.5% to 72.6%.

Marigold processing plant and processing facilities combine ROM cyanide heap leaching and recovery of gold from the leach solution using carbon adsorption, desorption, electrowinning, and refining to produce gold doré. All processing of ore, which is oxide in nature, is completed via ROM heap leaching. ROM ore is delivered to the leach pad by mine haul trucks and stacked in 6 meter to 12 meter lifts.

Cumulative gold production from the Marigold leach pad through June 2023 is equivalent to 70.6% recovery, and total gold recovery, including recoverable gold inventory in the pad, is estimated at 74.5%.

The following tables present the mineral reserves and mineral resources information for Marigold. Additionally, see “Proven and Probable Reserve Estimates by Mineral” in this Item 2 for further information on the mineral resources and mineral reserves for Marigold for the years ended December 31, 2023 and December 31, 2022, and see “Operating Statistics” in this Item 2 for further information on production of the Marigold operations for the years ended December 31, 2023 and December 31, 2022. A discussion of the changes in mineral resources and mineral reserves from 2022 to 2023 is also included below.

(1)Marigold Mineral Reserves are reported at a cut-off grade of 0.069 g/t payable gold (gold assay factored for metallurgical recovery, royalty, and net proceeds). No mining dilution is applied to the grade of the Mineral Reserves. Dilution is intrinsic to the Mineral Reserves estimate and is considered sufficient to represent the mining selectivity considered. The Mineral Reserve estimates were prepared in accordance with S-K 1300.

Mineral Reserve Estimates at Marigold as of December 31, 2023 decreased compared to December 31, 2022. Proven and Probable contained gold ounces decreased by 293 koz. Factors contributing to the change include: (i) re-interpretation of the mineralized envelopes using the most updated drill hole information, (ii) change to optimization parameters in terms of gold price and cost changes, and (iii) depletion.

(1)Marigold Mineral Resource estimate includes Marigold Mine and Buffalo Valley. Marigold Mine is based on an optimized pit shell at a cut off grade of 0.069 g/t payable gold (gold assay factored for recovery, royalty, and net proceeds). Buffalo Valley cut-off grade is based on lithology type: calcsilicate hornfels of 0.279 g/t gold, greenstone of 0.184 g/t gold, intrusive of 0.134 g/t gold, and siliceous hornfels of 0.158 g/t gold (payable gold factored for recovery, royalty and net proceeds). Mineral Resources are exclusive of Mineral Reserves. The Mineral Resource estimate was prepared in accordance with S-K 1300.

(2)Marigold metallurgical recoveries varies with gold grade and on average recoveries are 73%.

(3)Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Mineral Resources exclusive of Mineral Reserves at Marigold as of December 31, 2023 has increased compared to December 31, 2022. Measured and Indicated contained gold ounces increased by 129 koz and Inferred gold ounces increased by 121 koz. Factors contributing to the changes include: (i) addition of Buffalo Valley as part of Mineral Resources, (ii) re-interpretation of the mineralized envelopes using the most updated drill hole information, (iii) change to optimization parameters with regards to cost, and (iv) depletion.

Employees of the Company that are qualified persons, as defined under S-K 1300, are of the opinion that there are no material changes to the Mineral Resources and Reserves described herein as compared to the information presented in the Marigold TRS.

Since acquiring the Property, the Company has conducted several surface exploration programs including soil sampling, geophysics, and in-fill/delineation drilling. Reverse Circulation (“RC”) and Core (“Diamond Drilling-DD”) drilling on the Property is the principal method of exploration and delineation of gold mineralization. As of December 31, 2023, over 2.44 million meters of drilling in 12,840 drill holes across the Marigold, Buffalo Valley, and other areas have been completed.

During the year ended December 31, 2023, the Company has completed 36,840 meters of infill and 190 drillholes of resource expansion drilling. A total of 31,111 meters (98 drillholes) of drilling were completed at Buffalo Valley in 2023.

Since 2014, all exploration samples from Marigold are analyzed at American Assay Laboratories (“AAL”), an ISO 17025 certified facility in Sparks, Nevada or were assayed at Paragon Laboratories (2019-2020). Both AAL and Paragon laboratories are independent from the Company. ALS, Reno is used as umpire check sample analysis. The drill and geochemical samples are collected in accordance with accepted industry standards.

Data verification was completed as part of the generation of the mineral resources estimate. All data collected including but not limited to collar location, downhole survey, geological and analytical data are subject to SSR Mining Quality Assurance, Quality Control (QAQC) procedure.

The capital and operating cost estimates derived for Marigold are based on a combination of the data set forth in the Marigold TRS and budgetary estimates and reflect the Company’s current estimates as of December 31, 2023.

As of December 31, 2023, capital costs, exclusive of discretionary exploration, are estimated to be $326.8 million for the life of Marigold and are primarily composed of mine and plant equipment and the associated asset componentization. Estimated operating costs for mine operations include both cash and non-cash costs.

Capital costs and operating costs are provided for mineral property disclosure purposes in accordance with NI 51-102 and, generally, are non-GAAP mining company financial measures. See “Additional Mining Company Financial Information” in this Item 2 for more information.

Costs in individual years may vary significantly as a result of, among other things, current or future nonrecurring expenditures and changes to input costs and exchange rates. Please refer to the Marigold TRS for other key metrics including detailed cash flows by year and net present value computations.

Seabee Gold Operation, Saskatchewan, Canada

The Seabee Gold Operation (“SGO”) is an underground gold mining and milling operation, located in Saskatchewan, Canada. SSR Mining holds a 100% interest in the property through its wholly‑owned subsidiary, SGO Mining Inc., which also acts as operator for SGO.

The total cost of SGO’s gross mineral properties, plant and equipment as of December 31, 2023 was $584.9 million.

SGO is located at the north end of Laonil Lake, approximately 125 kilometers north-east of the town of La Ronge, Saskatchewan, Canada. Activities at the property are centered at approximately 55°41’ North latitude and 103°37’ West longitude.

Ore is currently produced from the Santoy underground mine from a ramp access/surface portal and is hauled 14 kilometers to the mill located at the Seabee site. A second underground mine, also having ramp access, was operated from 1991–2018 at Seabee. All ore is processed at the Seabee mill facility, which is located adjacent to the now-closed Seabee mine and has been in operation since 1991. The Seabee mill facility produces gold doré bars that are shipped to a third-party refinery.

The mine is a remote operation. SGO is accessible by fixed-wing aircraft from the towns of LaRonge, Prince Albert, and Saskatoon, SK and during the winter months, typically January through the end of March, a 60 kilometers winter road is also built between the mine site and Brabant Lake, approximately 120 kilometers north of La Ronge.

SGO is comprised of seven mineral leases and 130 mineral claims that cover an area of approximately 73,820 hectares, including the Fisher Property rights. SGO is subject to production and NSR royalties payable to third parties, including certain royalty payments to the Province of Saskatchewan, which are calculated on 10% of net operating profits and are payable once capital and exploration costs are recovered. The other NSR royalty payments are based on specific gold production and/or sales and vary between 1.0% and 3.0% of the value of gold production and/or sales, as applicable.

SGO currently has a valid surface lease with the Province of Saskatchewan, which was amended in March 2010. This surface lease provides land surface rights necessary to carry out the mining, milling and associated operations at the SGO. The existing surface lease is in effect from March 2010 to its expiry date of May 31, 2040.

History

The Laonil Lake region has been intermittently explored since the 1940’s, with the first gold discovery made by prospectors in 1947, with detailed drilling and exploration of the property constituting the SGO conducted from 1947 until construction of the Seabee mill was initiated in the summer of 1990. Mill construction was completed in late 1991 and mining commenced in December 1991. Exploration and production expanded into the Santoy segment of the property through the early 2000s.

The Company acquired the SGO on May 31, 2016. SGO has produced over 1.7 million ounces of gold since production began in 1991.

Northern Saskatchewan forms part of the Churchill Province of the Canadian Shield and has been subdivided into a series of litho-structural crustal units. The SGO is located within the Glennie domain of the Proterozoic Trans-Hudson Orogen. All the main gold deposits at SGO are considered orogenic quartz-vein hosted lode gold deposits. Gold mineralization at the Santoy mine complex is hosted within the Santoy Shear Zone (SSZ); a kilometer scale shear zone with a roughly north-south strike that dips moderately to steeply to the east. Gold mineralization at the Porky deposits occurs along the western margin of the Ray Lake synform within a kilometer scale shear zone, the Pine Lake Shear Zone (PLSZ), that strikes east-southeast and dips moderately to the south.

There is currently one operating mine as part of SGO, the underground Santoy mine, with ore hauled to the surface and then 14 kilometers to the mill located near the old Seabee mine. Ore is mined from the Santoy 8, Santoy 9, and Hanging Wall vein structures.

Access underground at the Santoy mine is provided from the surface via a main ramp with sublevels spaced between 17–20 meters vertically. Mining is carried out using sublevel open stoping mining methods with backfill, with stopes filled with a combination of rock fill and cemented rock fill, mined in a bottom-up mining sequence. Sill pillars are mined on retreat once the stopes below and above have been mined.

Infrastructure, Permitting and Compliance Activities

The major infrastructure at the SGO site includes roads, an airstrip, powerhouse and electrical distribution system, mill buildings, and related services facilities, Santoy mine portal and ventilation raises, equipment maintenance facilities, fuel storage, explosive storage, water supply and distribution, water management ponds and water treatment plant, tailings management facilities, administrative buildings and camp accommodation. Electrical power is provided by a transmission line to the site by the provincial power authority, Saskatchewan Power Corporation, connected to a 138 kV hydroelectric power line from Island Falls. The Santoy Mine has one water management structure, which is the Santoy 8 deposit water management pond. Potable water is obtainable locally through SSR’s potable water system at both the Seabee and Santoy mine sites. The site currently uses a slow sand filter system. The current SGO workforce totals 118 employees.

There are currently two tailings management facilities (“TMF”) that are being used by the mill; the East Lake TMF and the Triangle Lake TMF. Tailings deposition alternates between the two TMFs where winter deposition occurs in the Triangle Lake TMF and summer deposition is in the East Lake TMF. The remaining storage capacities of both facilities, based on the planned production rates, will potentially reach maximum capacity towards the end of 2030. To ensure that water treatment volumes are attained, a water treatment plant was constructed at East Lake TMF.

SGO was originally developed based on bench-scale metallurgical testwork that characterized the Seabee deposit as a lode gold style of mineralization that was free milling and that would respond to a standard flow sheet employing gravity recovery and cyanidation.

Historical recovery at the Seabee mill was in the 94%–96% range, with routine low levels of losses both in the tailings solids and solution. Future recovery estimates are 98%, based on the recent mill performance with recoveries of more than 98%. These improvements are attributed to the better condition of the leach equipment as well as the restored leach capacity.

Testwork conducted in 2023 on the Porky West deposit show a metallurgical recovery of 96.5%, with a high proportion of recovery coming from gravity processing.

Material has been processed for 30 years in the mill constructed immediately adjacent to the old Seabee mine. The operation was initially developed and operated on diesel power and later connected to the Saskatchewan grid power in 1992. The initial capacity of the mill was 500 tonnes per day, which was later expanded to a nameplate capacity of 1,000 tonnes per day, with the addition of a third grinding mill in 2005. The mill flow sheet is a conventional crushing and grinding circuit employing gravity concentration and cyanide leaching and carbon-in-pulp for recovery and production of gold doré on site.

Capital projects have included the addition of the primary ball mill and the addition of two further Knelson concentrators and Acacia intensive leach gold recovery unit. The current Seabee process plant capacity is nominally 1,320 tonnes per day, or 1,240 tonnes per day annual average. The Seabee operation is characterized by coarse gold, making the gravity recovery circuit critical to the overall gold recovery of the process plant. In recent years, with incorporation of gravity circuit improvements including the Acacia circuit, gold recovery has improved and is typically 98%.

The following tables present the mineral reserves and mineral resources information for SGO. Additionally, see “Proven and Probable Reserve Estimates by Mineral” in this Item 2 for further information on the mineral resources and mineral reserves for the SGO for the years ended December 31, 2023 and December 31, 2022, and see “Operating Statistics” in this Item 2 for further information on production of the SGO operations for the years ended December 31, 2023 and December 31, 2022. A discussion of the changes in mineral resources and mineral reserves from 2022 to 2023 is also included below.

(1)Seabee Mineral Reserves are reported using $1,600/oz gold and cut-off grade of 2.85 g/t gold for production stopes and cut-off grade of 1.86g/t for development. Processing recoveries vary based on the feed grade. The average recovery is estimated to be 96.4%. The Mineral Reserve estimates were prepared in accordance with S-K 1300.

(2)Seabee Mineral Reserves includes Santoy 8, Santoy 9, and Hanging Wall lodes.

Mineral Reserve Estimates at Seabee as of December 31, 2023 decreased compared to December 31, 2022. Proven and Probable contained gold ounces decreased by 138 koz. Factors contributing to the change include: (i) re-interpretation of the mineralized envelopes using the most updated drill hole information, (ii) change to optimization parameters in terms of cost changes and cut-off grade, and (iii) depletion.

(1)Seabee Mineral Resources are reported using $1,750/oz gold and a cut-off grade of 2.61 g/t gold. Mineral Resources are exclusive of Mineral Reserves. The Mineral Resource estimate was prepared in accordance with S-K 1300.

(2)Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Mineral Resources exclusive of Mineral Reserves at Seabee as of December 31, 2023 decreased compared to December 31, 2022. Measured and Indicated contained gold ounces decreased by 101 koz and Inferred gold ounces decreased by 73 koz. Factors contributing to the changes include: (i) addition of Porky West as part of Mineral Resources, (ii) re-interpretation of the mineralized envelopes using the most updated drill hole information, (iii) change to optimization parameters with regards to cost, cut-off grade and use of stope optimizer to report resources, and (iv) depletion.

Since acquiring the property, the Company has conducted several surface and underground exploration programs including soil sampling, geophysics, and in-fill/delineation drilling. Core (“Diamond Drilling-DD”) drilling on the Property is the principal method of exploration and delineation of gold mineralization.

During the year ended December 31, 2023, the Company has completed a total of 45 drillholes totaling 21,357 meters from surface and 278 drillholes totaling 49,748 meters from underground drilling at the Santoy mine complex.

During the year ended December 31, 2023, the company has completed a total of 134 drillholes totaling 48,645 meters of drilling at Porky West deposit. The main objective of this drilling was to expand the footprint of mineralization. Mineral Resource at Porky West is open at depth and along strike. An exploration plan is in place to increase the Mineral Resource footprint and continue infill drilling in 2024.

To date, drilling completed on the SGO property (by SSR and previous operators) includes 2,654 surface drillholes totaling 619,039 meters and 6,714 underground drillholes totaling 1,249,777 meters.

All drill samples in respect of the Seabee Gold Operation underground drilling program and some samples from the surface program were assayed by our on-site non-accredited assay laboratory, which is not independent from the Company. In 2023, surface drilling samples not analyzed by the on-site assay laboratory were analyzed at Saskatchewan Research Council (“SRC”), formerly TSL Laboratories Inc. (“TSL”) in Saskatoon, Saskatchewan, which also serves as the QAQC laboratory for our onsite lab or at ALS laboratories, Vancouver. Both laboratories are independent of SSR. Duplicate check assays were conducted at site and SRC, which is independent from the Company. Mean results of the spot checks were consistent with those reported. Sampling interval was established by minimum or maximum sampling lengths and geological and/or structural criteria.

Data verification was completed as part of the generation of the mineral resources estimate and all data collected including but not limited to collar location, downhole survey, geological and analytical data are subject to SSR Mining Quality Assurance, Quality Control (“QAQC”) procedures.

As of December 31, 2023, capital costs are estimated to be $125.8 million for the life of the SGO LOM and are primarily composed of capital development costs. Estimated operating costs for mine operations include both cash and non-cash costs.

Capital costs and operating costs are provided for mineral property disclosure purposes in accordance with NI 51-102 and are mining company financial measures. See “Additional Mining Company Financial Information” in this Item 2 for more information.

Costs in individual years may vary significantly as a result of, among other things, current or future nonrecurring expenditures, and changes to input costs and exchange rates. Please refer to the Seabee TRS for other key metrics including detailed cash flows by year and net present value computations.

Puna, Jujuy Province, Argentina

The Puna property (“Puna”) comprises the Chinchillas property and the Pirquitas property, both of which are located the Jujuy Province in far north Argentina. SSR Mining holds 100% interest in Puna through its subsidiary, Puna Operations Inc., which also operates the project.

The total cost of Puna’s gross mineral properties, plant, and equipment as of December 31, 2023 was $402.0 million.

The Chinchillas property is located in the Puna region of northwestern Argentina, in the province of Jujuy, department of Rinconada, approximately 290 kilometers northwest of San Salvador de Jujuy. The property is most conveniently accessible from the provincial capital of San Salvador de Jujuy via National Route No. 9, leading northward along the Humahuaca River to the town of Abra Pampa, then via Provincial Route No. 7 for 66 kilometers and Provincial Route No. 70, passing through the village of Santo Domingo. Elevation of the property ranges from 4,000–4,200 meters above sea level. The property is centered at approximately 22°30’ South latitude and 66°16’ West longitude.

The Pirquitas Property is also located in the Rinconada Department in the Province of Jujuy, approximately 45 kilometers southwest of the Chinchillas Property and approximately 335 kilometers northwest of San Salvador de Jujuy. Elevation of the property ranges from 4,000–4,450 meters above sea level. Activities at the property are centered at approximately 22°42’ South latitude and 66°29’ West longitude.

The Chinchillas property is composed of three contiguous claims, totaling 2,043 hectares. The Pirquitas property comprises 54 exploitation concessions that cover an area of approximately 9,742 hectares. All the exploitation concessions are valid and in good standing.

Ore from the Chinchillas mine is transported approximately 45 kilometers to the Pirquitas plant for processing. Concentrates produced at Puna are subject to a maximum 3% ‘mouth of mine value’ royalty that is payable to the Province of Jujuy. This royalty payment is based on the net recoverable value of the contained metals less certain operating costs.

History

Chinchillas was first prospected and mined in small scale in the eighteenth century by Jesuit missionaries. An initial mining concession was granted in 1956, with small scale production beginning in 1968 and continuing through 1982. Sporadic exploration and sampling programs were conducted at Chinchillas between 1982 and the mid-2010’s. Between the 1930’s and 1995 multiple small mining operations recovered silver and tin from placer and vein deposits in the vicinity of the Pirquitas mine. Comprehensive mineral exploration was conducted on the property between 1995 and 2000. The Pirquitas mine was formally inaugurated in April 2009, with commercial production starting in December of that year. Mining was completed in mid-January 2017. The Pirquitas processing plant has been in continuous operation since 2009.

The Chinchillas and Pirquitas deposits are considered part of the Bolivian tin-silver–zinc belt that extends from the San Rafael tin-copper deposit in southern Peru into the Puna region of Jujuy. Deposits with similar styles of mineralization include San Cristóbal, Potosí, and Pulacayo. These deposits are characterized by dacite dome complexes with mineralization hosted in shears and breccias within the dacite domes or within shears and breccias within the host rocks. More rarely, as in the case of the Chinchillas Property and San Cristóbal, the deposits morphology includes flat-lying manto bodies within sedimentary and pyroclastic rocks. All the deposits have large vertical extents.

Significant silver-lead-zinc mineralization occurs in five principal areas at the Chinchillas: the Silver Mantos and Mantos Basement zones in the west part of the Project, the Socavon del Diablo and Socavon Basement zones in the east and Melina to the northeast.

The Chinchillas deposit is mined as a conventional open pit operation. In-pit haulage for both ore and waste utilizes 100 tonne haul trucks. Ore is mined in five-meter benches and stockpiled in a staging area close to the pit. In the staging area, ore is loaded onto 35 tonne road trucks and transported to the processing facility at Pirquitas. Low-grade ore is stockpiled near the pit rim for processing at the end of mine life. Waste rock is hauled to on-site rock storage facilities.

Electricity at Chinchillas is supplied through power lines from natural gas generators at Pirquitas. Water for mining operations is drawn from wells, while bottled potable water is imported to site. Non-potable water is pumped from a diversion upstream of the open pit for use at the camp. Infrastructure at Chinchillas consists of technical offices, maintenance facilities, and limited camp and medical facilities. The current Puna workforce totals 853 employees.

Pirquitas is a permitted commercial mine and processing facility, operated by SSR Mining since December 2009, with infrastructure that includes a processing plant, a tailings facility, a fully serviced workers camp sufficient for approximately 670 personnel, a communications system including cellular and intranet access, office buildings, wastewater treatment facilities, organic waste landfill, and recycling center. Electricity is produced from natural gas generators at Pirquitas.

Government permits required to conduct exploration, drilling, and processing at Puna have been obtained.

The metallurgical development of Chinchillas ore types commenced in 2013 and continued through 2023. There have been six different test work programs that have been carried out on the Chinchillas ore. The latest test campaign wrapped up in 2023, which further tested the Socavon and Melina targets; this test work split the flow sheets based on the Zn to Pb ratio. The Pirquitas process plant operating performance since commencement on Chinchillas ores is used to provide the concentrate grade recovery and mass pull relationships. The recovery is variable based on the head grade and the average is 96.7% for silver, 93.2% for lead and 38.9% for zinc.

For the Pirquitas deposit, historical process plant operating performance was used to provide the concentrate grade recovery and mass pull relationships. The recovery is variable based on the head grade and the average is 82.7% for silver and 53.7% for zinc; there is insignificant lead recovery at Pirquitas.

The Pirquitas processing plant consists of crushing, grinding, and froth flotation to produce two products, silver-lead and zinc concentrates. These two product concentrates are bagged separately in one tonne bags and transported to Buenos Aires by truck for export to smelters. The Pirquitas process plant has continued to improve performance from the expected 4,000 tonnes per day feed capacity to 5,000 tonnes per day achieved in 2023.

The following tables present the mineral reserves and mineral resources information for Puna. Additionally, see “Proven and Probable Reserve Estimates by Mineral” in this Item 2 for further information on the mineral resources and mineral reserves for Puna for the years ended December 31, 2023 and December 31, 2022, and see “Operating Statistics” in this Item 2 for further information on production of the Puna operations for the years ended December 31, 2023 and December 31, 2022. A discussion of the changes in mineral resources and mineral reserves from 2022 to 2023 is also included below.

(1)Chinchillas Mineral Reserves are reported at NSR cut off value of $48.97/t which incorporates appropriate metallurgical recoveries and includes lead and zinc attributable metals. The Mineral Reserve estimates were prepared in accordance with S-K 1300.

(2)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 95.7% for silver, 93.2% for lead and 38.9% for zinc.

Mineral Reserve Estimates at Puna as of December 31, 2023 decreased compared to December 31, 2022. Proven and Probable contained silver ounces decreased by 12.4 Moz. Factors contributing to the change include: (i) change to optimization parameters in terms of cost changes and change to cut-off grade, and (ii) depletion.

(1)Chinchillas Mineral Resource are contained within a pit shell generated using an NSR cut-off of $37.91. Metallurgical recoveries vary based on the grade and on average are 95.5% silver, 92.1% lead, and 55% zinc. Mineral Resources are exclusive of Mineral Reserves. The Mineral Resource estimate was prepared in accordance with S-K 1300.

(2)Pirquitas UG Mineral Resources are contained within underground mining shapes in San Miguel, Potosi, Oploca, and Cortaderas veins based on an NSR cut-off on $110/t and are reported using a silver metal price of $22.00/oz, $0.95/lb lead, and $1.15/lb zinc. The cut-off grade includes lead and zinc attributable metal and is calculated at $110/t. Metallurgical recoveries vary with grade and on average are 82.7% silver and 53.7% for zinc. There are no Mineral Reserves in Pirquitas.

(3)Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Mineral Resources exclusive of Mineral Reserves at Puna as of December 31, 2023 increased compared to December 31, 2022. Measured and Indicated contained silver ounces increased by 12.9 Moz and Inferred silver ounces increased by 5.2 Moz. Factors contributing to the changes include: (i) addition of Mineral Resources due to Resource expansion drilling at Chinchillas and Pirquitas, (ii) re-interpretation of the mineralized envelopes using the most updated drill hole information, (iii) change to optimization parameters with regards to metal price, cost and change in cut-off grade, and (iv) depletion.

At Chinchillas, exploration programs included geological mapping, geophysical surveying, and diamond drilling to identify and delineate mineralized areas. At Pirquitas, exploration programs included geological mapping, geophysical surveying, underground rock sampling, and multiple programs of RC and diamond drilling.

In 2023, exploration drilling was conducted on the Chinchillas and Pirquitas properties. During the year ended December 31, 2023, the Company has completed a total of 45 drillholes totaling 5,850 meters at Chinchillas. Drilling was completed within and around the margin of the open pit operation and focused on reconciliation and resource expansion, as well as testing a series of high potential targets within 1.5 kilometers of the operation. Areas tested include Socavon Del Diablo and Melina on the eastern and northern rims, respectively, of the Chinchillas volcanic dome complex, evaluating targets hosted within both volcanic rocks and the adjacent brecciated sedimentary rocks.

During the year ended December 31, 2023, a total of 29 drillholes totaling 12,806 meters was completed at Pirquitas. Drilling focused on the Cortaderas breccia, the Hanging Wall zone, and the North Potosi breccia beneath the northwest section of the San Miguel pit.

Historically the samples have been assayed at ALS-Peru, Alex Stewart, Argentina SA, SGS Chile and AAL laboratories. In 2022 samples were sent to the ALS Mendoza laboratory, where the physical preparation of the samples was performed. The majority of the analyses were carried out in the ALS laboratory in Lima, Peru with the samples being transported by intercompany transfer.

The 2023 samples were analyzed by Alex Stewart International, with the physical preparation carried out in Palpala, Jujuy, and the chemical analysis performed in Mendoza. Sample shipment between Jujuy and Mendoza was managed by Alex Stewart following arrival in Jujuy.

Both Alex Stewart and ALS are international laboratories certified under ISO 9001:2008, ISO 17025:2008, and ISO 14001: 2004. Alex Stewart and ALS are independent from SSR Mining. Data verification was completed as part of the generation of the mineral resources estimate. All data collected, including but not limited to, collar location, downhole survey, geological and analytical data are subject to SSR Mining Quality Assurance, Quality Control (“QAQC”) procedure.

As of December 31, 2023, capital costs, exclusive of discretionary exploration, are estimated to be $85.1 million for the life of Puna and are primarily composed of final closure and reclamation costs. Estimated operating costs for mine operations include both cash and non-cash costs.

Estimated operating costs for mine operations include both cash and non-cash costs.

Capital costs and operating costs are provided for mineral property disclosure purposes in accordance with NI 51-102 and are mining company financial measures. See “Additional Mining Company Financial Information” in this Item 2 for more information.

Costs in individual years may vary significantly as a result of, among other things, current or future nonrecurring expenditures, and changes to input costs and exchange rates. Please refer to the Puna TRS for other key metrics including detailed cash flows by year and net present value computations.

Internal Controls over the Mineral Reserves and Mineral Resources Estimation Process

The Company has internal controls over the mineral reserves and mineral resources estimation processes that result in reasonable and reliable estimates aligned with industry practice and reporting regulations. Annually, the Qualified Persons and other employees review the estimates of mineral reserves and mineral resources, the supporting documentation, and compliance to the internal controls, and, based on their review of such information, recommend approval to use the mineral reserve and mineral resource estimates to our senior management. The Company’s controls utilize management systems including but not limited to, formal quality assurance and quality control protocols, standardized procedures, workflow processes, supervision and management approval, internal and external reviews and audits, reconciliations, and data security covering record keeping, chain of custody and data storage.

The Company’s systems also cover exploration activities, sample preparation and analysis, data verification, mineral processing, metallurgical testing, recovery estimation, mine design and sequencing, and mineral reserve and resource evaluations, with environmental, social and regulatory considerations. The Company’s quality assurance and control protocols over sampling and assaying of drill hole samples include insertion of blind samples consisting of standards, blanks, and duplicates in the primary sample streams, as well as selective sample validation at secondary laboratories.

These controls and other methods help to validate the reasonableness of the estimates. The effectiveness of the controls are reviewed periodically to address changes in conditions and the degree of compliance with policies and procedures. Refer to Item 1A. “Risk Factors” for discussion of risks associated with our estimates of mineral reserves and mineral resources.

Proven and Probable Reserve Estimates by Mineral

The following information has not taken into account the impact of the Çöpler Incident. The following information about Çöpler is historical in nature and is as of December 31, 2023 only. As described in “Item 1. Çöpler Incident,” all operations at Çöpler have ceased following the Çöpler Incident and we are unable to determine at this time when operations at Çöpler will resume, if at all. We have not determined that, if we resume operations at Çöpler, the proven and probable reserve estimates by mineral for Çöpler presented below continues to be accurate or will be accurate at such time as the Company resumes operations at Çöpler.

Proven and probable Mineral Reserves are based on extensive drilling, sampling, geological modeling, and metallurgical testing from which economic feasibility has been determined. The price sensitivity of Mineral Reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The Mineral Reserve tables below list the average metallurgical recovery rate for each deposit, which takes into account the several different processing methods to be used. The cut-off grade, or lowest grade of mineralized material considered economic to process, varies with material type, metallurgical recoveries and operating costs.

The proven and probable Mineral Reserves presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, silver, copper, lead, and zinc will be realized. Ounces of gold or silver, or pounds of copper, lead or zinc in the proven and probable Mineral Reserves are calculated without regard to any losses during metallurgical treatment. Mineral Reserves estimates may require revision based on actual production experience. Market price fluctuations of gold, silver, copper, lead, and zinc, as well as increased cost of sales or reduced metallurgical recovery rates, could render proven and probable Mineral Reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a decrease in actual recovery as compared to the Mineral Reserves reported herein.

The Mineral Reserves presented below as of December 31, 2023 and December 31, 2022 have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) Regulation S-K subpart 1300 rules for Property Disclosures for Mining Registrants (“S-K 1300”), and have been approved by the Qualified Persons. Mineral Reserves metal prices used for preparation of the 2023 Reserve estimate, which were selected, in each case, by the Qualified Persons are: $1,450 per gold ounce, $18.50 per silver ounce, $0.90 per lead pound, $1.05 per zinc pound, and $3.30 per copper pound unless otherwise stated. The Mineral Reserves metal price assumptions for 2022 report are: $1,350 per gold ounce, $18.50 per silver ounce, $0.90 per lead pound, $1.05 per zinc pound and $3.30 per copper pound unless otherwise stated.

The point of reference for Mineral Reserves is the point of feed into the processing facility for all projects except for Marigold and Çöpler Heap Leach ore, which is entry into the carbon columns in the processing facility.

Metals shown in the table are contained metals in ore mined and processed.

Tonnage is metric tonnes, ounces represent troy ounces, and g/t represents grams per metric tonne.

The following tables summarize the Company’s estimated gold reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets.

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine and Greater Cakmaktepe.

(3)Mineral Reserve cut-offs are based on $1,450/oz gold price. Metallurgical gold recoveries for heap leach oxide and grind leach varies between 40-78% and 53-90%, respectively, based on lithology, while for sulfide, it is 81-91%. All cut-off values include allowance for royalty payable. Heap leach oxide uses a NSR cut-off $21.32/t, grind leach uses a NSR cut-off value of $ 21.77/t, while sulfide ore uses a cut-off grade of $45.58/t.

(4)Ore definitions: oxide and grind leach material are defined as material <2% total sulfur, and sulfide material is ≥2% total sulfur.

(5)Marigold Mineral Reserves are reported at a cut-off grade of 0.069 g/t payable gold (gold assay factored for metallurgical recovery, royalty, and net proceeds). No mining dilution is applied to the grade of the Mineral Reserves. Dilution intrinsic to the Mineral Reserves estimate is considered sufficient to represent the mining selectivity considered.

(6)Seabee Mineral Reserves are reported using $1,600/oz gold and a cut-off grade of 2.85 g/t gold for production stopes and 1.86g/t for development. Processing recoveries vary based on the feed grade. The average recovery is estimated to be 96.4%.

(7)Seabee Mineral Reserves includes Santoy 8, Santoy 9, and Hanging Wall lodes.

• Operations at Çöpler are currently suspended and we are unable to determine at this time when operations at Çöpler will resume, if at all. See“Item 1. Çöpler Incident.”

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine, Cakmaktepe and Çakmaktepe Extension.

(3)Mineral Reserve cut-offs are based on $1,350/oz gold price. The average oxide recoveries are 61% and average sulfide recoveries are 91%. All cut-off values include allowance for royalty payable. There are no credits for silver or copper in the cut-off calculations. Oxide cutoff grades vary between 0.44-0.80 g/t gold and sulfide cutoff grades vary between 1.05-1.11 g/t gold.

(4)There are no sulfide Mineral Reserves at Çakmaktepe and Bayramdere.

(5)Marigold Mineral Reserves are reported at a cut-off grade of 0.065 g/t payable gold (gold assay factored for metallurgical recovery, royalty, and net proceeds). No mining dilution is applied to the grade of the Mineral Reserves. Dilution intrinsic to the Mineral Reserves estimate is considered sufficient to represent the mining selectivity considered.

(6)Seabee Mineral Reserves are reported using $1,600/oz gold and a cut-off grade of 2.52 g/t gold. Processing recoveries vary based on the feed grade. The average recovery is estimated to be 98%.

(7)Seabee Mineral Reserves includes Santoy 8, Santoy 9, and Gap Hanging Wall (“GHW”) lodes.

The following tables summarize the Company’s estimated silver reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine and Greater Cakmaktepe.

(3)Mineral Reserve cut-offs are based on $1,450/oz gold price; Metallurgical silver recoveries for heap leach and grind leach oxide varies between 0% and 54% based on lithology. Metallurgical recovery for sulfide varies between 0% and 3%. All cut-off values include allowance for royalty payable. Heap leach oxide uses a NSR cut-off $21.32/t, grind leach uses a NSR cut-off value $21.77/t, while sulfide ore uses a cut-off grade of $45.58/t.

(4)Ore definitions: oxide and grind leach material are defined as material <2% total sulfur, and sulfide material is ≥2% total sulfur.

(5)Chinchillas Mineral Reserves are reported at NSR cut off value of $48.97/t which incorporates appropriate metallurgical recoveries and includes lead and zinc attributable metals.

(6)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 95.7% for silver.

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine, Cakmaktepe and Çakmaktepe Extension.

(3)Mineral Reserve cut-offs are based on $1,350/oz gold price. The average oxide recoveries are 61% and average sulfide recoveries are 91%. The weighted average gold recovery is 84%. All cut-off values include allowance for royalty payable. There are no credits for silver or copper in the cut-off calculations. Oxide cutoff grades vary between 0.44-0.80 g/t gold and sulfide cutoff grades vary between 1.05-1.11 g/t gold.

(4)There are no sulfide Mineral Reserves at Çakmaktepe and Bayramdere.

(5)Chinchillas Mineral Reserves are reported at NSR cut off value of $44.11/t which incorporates appropriate metallurgical recoveries and includes lead and zinc attributable metals.

(6)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 98% for silver.

The following tables summarize the Company’s estimated lead reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(1)Chinchillas Mineral Reserves are reported at NSR cut off value of $48.97/t which incorporates appropriate metallurgical recoveries and includes silver and zinc attributable metals.

(2)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 93.2% for lead.

(1)Chinchillas Mineral Reserves are reported at NSR cut off value of $44.11/t which incorporates appropriate metallurgical recoveries and includes silver and zinc attributable metals.

(2)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 95% for lead.

The following tables summarize the Company’s estimated zinc reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(1)Chinchillas Mineral Reserves are reported at NSR cut off value of $48.97/t which incorporates appropriate metallurgical recoveries and includes silver and lead attributable metals.

(2)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 38.9% for zinc.

(1)Chinchillas Mineral Reserves are reported at NSR cut off value of $44.11/t which incorporates appropriate metallurgical recoveries and includes silver and lead attributable metals.

(2)Chinchillas processing recoveries vary based on the feed grade. The average recovery is estimated to be 63% for zinc.

The following tables summarize the Company’s estimated copper reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine and Greater Çakmaktepe.

(2)Mineral Reserves shown are SSR ownership share only. SSR owns 80% in both Anagold and Kartaltepe licenses.

(3)Mineral Reserve cut-offs are based on $1,450/oz gold price; average oxide recoveries are 73% and average sulfide recoveries are 91%. The weighted average gold recovery is 84%. All cut-off values include allowance for royalty payable. Heap leach oxide uses a NSR cut-off $21.32/t, grind leach uses a NSR cut-off value $21.77/t, and sulfide ore uses a cut-off grade of $45.58/t.

(5)Copper oxide recoveries are 6%.

(6)There are no copper recoveries in sulfide material.

(1)Çöpler Mineral Reserves includes reserves from Çöpler Mine, Çakmaktepe and Çakmaktepe Extension.

(2)Mineral Reserves shown are SSR ownership share only. SSR owns 80% in both Anagold and Kartaltepe licenses.

(3)Mineral Reserve cut-offs are based on $1,350/oz gold price. The average oxide recoveries are 61% and average sulfide recoveries are 91%. All cut-off values include allowance for royalty payable. There are no credits for silver or copper in the cut-off calculations. Oxide cutoff grades vary between 0.44-0.80 g/t gold and sulfide cutoff grades vary between 1.05-1.11 g/t gold.

(4)There are no sulfide Mineral Reserves at Çakmaktepe.

(5)There is no copper recovery in sulfide material.

(6)Copper oxide recoveries are 2%.

Resource Estimates by Mineral

The following information has not taken into account the impact of the Çöpler Incident. The following information about Çöpler is historical in nature and is as of December 31, 2023 only. As described in “Item 1. Business - Çöpler Incident,” all operations at Çöpler have ceased following the Çöpler Incident and we are unable to determine at this time when operations at Çöpler will resume, if at all. We have not determined that, if we resume operations at Çöpler, the resource estimates by mineral for Çöpler presented below continues to be accurate or will be accurate at such time as the Company resumes operations at Çöpler.

Mineral Resources are presented exclusive of Mineral Reserves. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration.

The Mineral Resources presented below as of December 31, 2023 have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) Regulation S-K subpart 1300 rules for Property Disclosures for Mining Registrants (“S-K 1300”), and have been approved by the Qualified Persons. Mineral Resources metal prices used for preparation of the 2023 Resource estimate, which were selected, in each case, by the applicable Qualified Persons for each property, are: $1,750 per gold ounce, $22.00 per silver ounce, $0.95 per lead pound, $1.15 per zinc pound, and $3.95 per copper pound unless otherwise stated. The Mineral Resource metal price assumptions for 2022 report are: $1,750 per gold ounce, $22.00 per silver ounce, $0.95 per lead pound, $1.15 per zinc pound, and $3.95 per copper pound unless otherwise stated.

The point of reference for Mineral Resources is the point of feed into the processing facility for all projects except for Marigold and Çöpler Heap Leach ore, which is entry into the carbon columns in the processing facility.

Metals shown in the tables below are contained metals in ore mined and processed.

Tonnage is metric tonnes, ounces represent troy ounces, and g/t represents grams per metric tonne.

The following tables summarize the Company’s estimated gold resources exclusive of Mineral Reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells.

(4)Ore definitions: heap leach and grind leach material are defined as material <2% total sulfur, and sulfide material is ≥2% total sulfur. Grind Leach processing route will be available approximately in 2027.

(5)There is no sulfide material Bayramdere.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: heap leach oxide uses a NSR cut-off $18.34, at Bayramdere the heap leach oxide uses a NSR cutoff of $18.34, Oxide Grind Leach uses a NSR cutoff of $19.26, and sulfide ore uses a cut-off grade of $39.87, Greater Çakmaktepe sulfide cut-off grade of $44.37, with allowances for payability, deductions, transport, and royalties.

(7)Metallurgical recovery for heap leach oxide and grind leach varies between 40-78% and 53-90%, respectively, based on lithology; metallurgical recovery for sulfide varies between 81-91% based on lithology.

(8)Marigold Mineral Resource estimate is based on an optimized pit shell at a cut-off grade of 0.069 g/t payable gold (gold assay factored for recovery, royalty, and net proceeds).

(9)Marigold metallurgical recoveries varies with gold grade and on average recoveries are 73%.

(10)Seabee Mineral Resources are reported using a cut-off grade of 2.61 g/t and were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual underground shapes. Mineral resources includes Santoy 8, Santoy 9, Hanging Wall and Porky West lodes. Metallurgical recoveries vary with gold grade and on average recoveries are 95.6%.

(11)Amisk Mineral Resources are reported using a gold equivalent cut-off grade of 0.30 g/t and include silver attributable ounces. Average gold recovery is 90%.

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells ($1,400/oz gold and $19.00/oz silver for Bayramdere).

(4)Oxide definitions: At Çöpler: oxide is defined as material <2% total sulfur and sulfide material is ≥2% total sulfur. At Çakmaktepe Extension and Çakmaktepe, oxide is comprised of low-sulfur (LS) oxide (<1% total sulfur) and high-sulfur oxide (≥1% and <2% total sulfur). At Bayramdere, oxide is defined as material <2% total sulfur.

(5)Sulfide definitions: At Çakmaktepe Extension, sulfide is comprised of standard sulfide material (≥2% total sulfur) and sulfide-with-Cu material (sulfide with Cu>0.10%). There is no sulfide material at Çakmaktepe or Bayramdere.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: oxide cut-off grades are 0.19-0.76 g/t gold, sulfide cut-off uses an NSR value in $/t based on gold price of $1,750/oz, silver price of $22.00/oz, and copper price of $3.95/lb with allowances for payability, deductions, transport, and royalties.

(7)Çöpler oxide recoveries vary between 38.0-78.4% and sulfide recoveries vary between 55-98%.

(8)Marigold Mineral Resource estimate includes Marigold Mine and Buffalo Valley. Marigold Mine is based on an optimized pit shell at a cut-off grade of 0.065 g/t payable gold (gold assay factored for recovery, royalty, and net proceeds). Buffalo Valley cut-off grade is based on lithology type: calcsilicate hornfels of 0.279 g/t gold, greenstone of 0.184 g/t gold, intrusive of 0.134 g/t gold, and siliceous hornfels of 0.158 g/t gold (payable gold factored for recovery, royalty, and net proceeds).

(9)Marigold metallurgical recoveries varies with gold grade and on average recoveries are 67%.

(10)Seabee Mineral Resources are reported using a cut-off grade of 2.07 g/t and were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual underground shapes. Mineral resources includes Santoy 8, Santoy 9, and Gap Hanging Wall lodes.

(11)Amisk Mineral Resources are reported using a gold equivalent cut-off grade of 0.30 g/t and include silver attributable ounces. Average gold recovery is 90%.

(12)San Luis Mineral Resources are reported at gold price assumptions of $600/oz using a gold equivalent cut-off grade of 6.0 g/t and include silver attributable ounces. Average gold recovery is 94%.

The following tables summarize the Company’s estimated silver resources attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells ($1,750/oz for gold, $22.00/oz for silver, and $3.95/lb for copper.

(4)Oxide definitions: heap leach and grind leach material are defined as material <2% total sulfur. Grind Leach processing route will be available approximately in 2027.

(5)Sulfide definitions: sulfide material is ≥2% total sulfur.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: heap leach oxide uses a NSR cut-off $18.34, at Bayramdere the heap leach oxide uses a NSR cutoff of $18.34, Oxide Grind Leach uses a NSR cutoff of $19.26, and sulfide ore uses a cut-off grade of $39.87, Greater Çakmaktepe sulfide cut-off grade of $44.37, with allowances for payability, deductions, transport, and royalties.

(7)Metallurgical silver recoveries for heap leach and grind leach oxide varies between 0% and 54% based on lithology. Metallurgical recovery for sulfide varies between 0% and 3%. Average silver recoveries are 8%.

(8)Chinchillas Mineral Resource are contained within a pit shell generated using an NSR cut-off of $37.91 and are reported using a silver metal price of $22.00/oz, $0.95/lb lead, and $1.15/lb of zinc. Metallurgical recoveries vary based on the grade and on average are 95.5% silver.

(9)Pirquitas UG Mineral Resources are contained within underground mining shapes in San Miguel, Potosi, Oploca, and Cortaderas veins based on an NSR cut-off on $110/t and are reported using a silver metal price of $22/oz and $1.15/lb of zinc. Metallurgical recoveries vary with grade and on average are 82.7% silver. There are no Mineral Reserves at Pirquitas.

(10)Amisk Mineral Resources are reported at a cut-off grade that includes gold ounces and is 0.30 g/t gold equivalent. Silver process recovery is 80%.

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells ($1,400/oz for gold and $19.00/oz for silver for Bayramdere).

(4)Oxide definitions: At Çöpler: oxide is defined as material <2% total sulfur and sulfide material is ≥2% total sulfur. At Çakmaktepe Extension and Çakmaktepe, oxide is comprised of low-sulfur (LS) oxide (<1% total sulfur) and high-sulfur oxide (≥1% and <2% total sulfur). At Bayramdere: oxide is defined as material <2% total sulfur.

(5)Sulfide definitions: At Çakmaktepe Extension, sulfide is comprised of standard sulfide material (≥2% total sulfur) and sulfide-with-Cu material (sulfide with Cu>0.10%). There is no sulfide material at Çakmaktepe or Bayramdere.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: oxide cut-off grades 0.19-0.76 g/t gold, sulfide cut-off uses an NSR value in $/t based on gold price of $1,750/oz, silver price of $22.00/oz, and copper price of $3.95/lb with allowances for payability, deductions, transport, and royalties.

(7)Average silver recoveries are 16%.

(8)Chinchillas Mineral Resource are contained within a pit shell generated using an NSR cut-off of $33.20. Metallurgical recoveries vary based on the grade and on average are 98% for silver.

(9)Pirquitas UG Mineral Resources are reported using a silver metal price of $20.00/oz, $1.10/lb lead, and $1.30/lb zinc. The cut-off grade includes lead and zinc attributable metal and is calculated at $100/t. Metallurgical recoveries vary with grade and on average are 87% for silver.

(10)San Luis Mineral Resources are reported at silver price assumptions of $9.25/oz. The cut-off grade includes gold ounces and is 6.0 g/t gold equivalent. Silver process recovery is 90%.

(11)Amisk Mineral Resources are reported at a cut-off grade that includes gold ounces and is 0.30 g/t gold equivalent. Silver process recovery is 80%.

The following tables summarize the Company’s estimated lead resources attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(1)Chinchillas Mineral Resource are contained within a pit shell generated using an NSR cut-off of $37.91 and are reported using a silver metal price of $22.00/oz, $0.95/lb lead and $1.15/lb of zinc. Metallurgical recoveries vary based on the grade and on average are 92.1% lead.

(1)Chinchillas Mineral Resource are contained within a pit shell generated using an NSR cut-off of $33.20. Metallurgical recoveries vary based on the grade and on average are 98% for silver, 95% for lead and 63% for zinc.

(2)Pirquitas UG Mineral Resources are contained within underground mining shapes based on an NSR cut-off on $90-$100/t are reported using a silver metal price of $20.00/oz, $1.10/lb for lead and $1.30/lb for zinc. Metallurgical recoveries vary with grade and on average are 50% for lead.

The following tables summarize the Company’s estimated zinc resources attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(1)Chinchillas Mineral Resources are contained within a pit shell generated using a NSR cut off value of $37.91 and are reported using a metal prices of $22.00/oz for silver, $0.95/lb for lead, and $1.15/lb for zinc. Metallurgical recoveries vary with grade and on average are 55% for zinc.

(2)Pirquitas UG Mineral Resources are contained within underground mining shapes in San Miguel, Potosi, Oploca, and Cortaderas veins based on an NSR cut-off on $110/t and are reported using a silver metal price of $22/oz and $1.15/lb of zinc. Metallurgical recoveries vary with grade and on average are 53.7% for zinc. There are no Mineral Reserves at Pirquitas.

(1)Chinchillas Mineral Resources are calculated using a NSR cut off value of $33.20 that includes silver and lead attributable metal. The average recovery is estimated to be 98% for silver, 93% for lead and 63% for zinc.

(2)Pirquitas UG Mineral Resources are contained within underground mining shapes based on an NSR cut-off on $90-$100/t are reported using a silver metal price of $20.00/oz, $1.10/lb for lead, and $1.30/lb for zinc. Metallurgical recoveries vary with grade and on average are 85% for zinc.

The following tables summarize the Company’s estimated copper resources attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 and December 31, 2022 for each of its production and exploration assets:

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells ($1,400/oz for gold and $19.00/oz for silver for Bayramdere).

(4)Oxide definitions: heap leach and grind leach material are defined as material <2% total sulfur. Grind Leach processing route will be available approximately in 2027.

(5)Sulfide definitions: sulfide material is ≥2% total sulfur.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: heap leach oxide uses a NSR cut-off $18.34, at Bayramdere the heap leach oxide uses a NSR cutoff of $18.34, Oxide Grind Leach uses a NSR cutoff of $19.26, and Çöpler sulfide ore uses a cut-off grade of $39.87, Greater Çakmaktepe sulfide cut-off grade of $44.37, with allowances for payability, deductions, transport, and royalties.

(7)Copper oxide recoveries are 8% . There are no recoveries in sulfide material.

(3)All Mineral Resources for Çöpler were assessed for reasonable prospects for eventual economic extraction by reporting only material that fell within conceptual pit shells ($1,400/oz for gold and $19.00/oz for silver for Bayramdere).

(4)Oxide definitions: At Çöpler, oxide is defined as material <2% total sulfur and sulfide material is ≥2% total sulfur. At Çakmaktepe Extension and Çakmaktepe, oxide is comprised of low-sulfur (LS) oxide (<1% total sulfur) and high-sulfur oxide (≥1% and <2% total sulfur). At Bayramdere, oxide is defined as material <2% total sulfur.

(5)Sulfide definitions: At Çakmaktepe Extension, sulfide is comprised of standard sulfide material (≥2% total sulfur) and sulfide-with-Cu material (sulfide with Cu>0.10%). There is no sulfide material at Çakmaktepe or Bayramdere.

(6)Mineral Resources are reported at the variable gold cut-off grades based on different metallurgical parameters: oxide cut-off grades 0.19-0.76 g/t gold, sulfide cut-off uses an NSR value in $/t based on a gold price of $1,750/oz, silver price of $22.00/oz, and copper price of $3.95/lb with allowances for payability, deductions, transport, and royalties.

(7)Copper oxide recoveries are 2% and sulfide recoveries are 65%.

Reserve and Resource Estimates by Mineral for Hod Maden

We have not determined what impact the Çöpler Incident will have on our development plan with respect to Hod Maden. For more information, see “Item 1. Çöpler Incident.”

The Mineral Reserves and Mineral Resources for Hod Maden as of December 31, 2023 that are presented below are estimates that have been prepared by SSR Mining based on data available as of July 2019 and have been approved by internal SSR Mining Qualified Persons, as defined under Regulation S-K 1300. Hod Maden is not considered a material property of the Company, as it relates to Regulation S-K 1300.

The Hod Maden Reserves and Hod Maden Resources (as defined below) are estimates made by SSR Mining and have not been prepared, reviewed or verified by an independent, third-party qualified person and have not been prepared or presented in accordance with Regulation S-K 1300.

The Mineral Reserves presented below for Hod Maden (the “Hod Maden Reserves”) are estimates based on information available at the time of calculation in a manner consistent with industry practice.

Measured and Indicated Resources were converted to Proven and Probable Mineral Reserves through application of relevant modifying factors and the appropriate mining recovery and dilution parameters were applied. Mineral Reserves are reported based on mined ore to be delivered to the plant as mill feed. Ounces of gold or pounds of copper in the Hod Maden Reserves presented below are calculated without regard to any losses during metallurgical treatment. Market price fluctuations of gold and copper, as well as increased cost of production/sales or reduced metallurgical recovery rates, could result in the Hod Maden Reserves containing relatively lower grades of mineralization uneconomic to exploit and result in a decrease in actual recovery as compared to the Hod Maden Reserves reported herein.

The Mineral Resources presented below for Hod Maden (the “Hod Maden Resources”) are presented exclusive of the Hod Maden Reserves. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration.

Hod Maden Reserves and Hod Maden Resources are based on $1,300/oz gold price and $3.00/lb copper and an 85% metallurgical recovery for gold, and are reported based on incremental cut-off of NSR of $63/t and $40/t for development. Metals shown in the tables are contained metals in ore mined and processed. Tonnage is metric tonnes, ounces represent troy ounces, and g/t represents grams per metric tonne. The point of reference for the Hod Maden Reserves is the proposed onsite processing facility.

The following table summarizes the estimated gold and copper reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 for Hod Maden:

The following table summarizes the Company’s estimated gold and copper resources exclusive of Mineral Reserves attributable to SSR Mining’s ownership or economic interest as of December 31, 2023 for Hod Maden:

Hod Maden is planned as an underground mining operation utilizing the long hole stoping method and may include drift and fill in the near surface areas of the ore body.

Hod Maden test work is underway to confirm the past work and to identify opportunities to simplify the plant flow sheet for recovery of gold and copper. Additional test work is also underway based on the updated mine schedule to facilitate the completion of paste plant design.

Between 2014 and 2019, a total of 269 holes, either PQ or HQ, were drilled into the Hod Maden deposit. Twenty-nine holes drilled for geotechnical and hydrogeological reasons were excluded from resource estimation. Drill spacing through main mineralized ore zone is approximately 25m and high percentage of drillholes dip approximately 60°, either to the west or east. To date, a total of 369 drillholes for 89,037 meters have been completed in the Hod Maden property area, including 14 drillholes for 4,756 meters drilled in 2023 since the acquisition of Hod Maden.

Sample preparation was conducted according to a set of documented standard operating procedures, including photographing of drill core, logging, density measurements, and half core sampling of the entire drillhole. Two external laboratories, SGS and ALS Chemex both located in Ankara, have been used for both sample preparation and assaying.

Since commencement of drilling, quality control system includes certified standards, blanks, and field duplicate samples. All CRMs and blanks were obtained from independent third-party provider Geostats Pty Ltd. Quarter core was submitted as field duplicate. After reviewing, it is the Company’s opinion, the sample preparation, security, and analytical procedures meet industry standards, and the QA/QC program, as designed and implemented are in line with industry best practices.

Data verification was completed as part of the generation of the mineral resources estimate. All data collected including but not limited to collar location, downhole survey, geological and analytical data are subject to SSR Mining Quality Assurance, Quality Control (“QAQC”) procedure.

Operating Statistics

The following tables summarize operating statistics related to production of our operations for the year ended December 31, 2023, December 31, 2022 and December 31, 2021. Our operations at Çöpler are currently suspended. See “Item 1. Çöpler Incident,” for more information.