VANCOUVER, Dec. 27, 2017 /CNW/ - SSR Mining Inc. (NASDAQ: SSRM)
(TSX: SSRM) ("SSR Mining") announces today that it has received approval of the Environmental Impact Assessment ("EIA") from the
Argentine regulatory authorities for Puna Operations Inc.'s Chinchillas project in Jujuy Province, Argentina. Development activities will commence, with first ore feed to the Pirquitas mill expected in the
second half of 2018. Priority development activities include initiating the earthworks projects at Chinchillas, releasing
construction contracts and commencing construction activities at Pirquitas, as well as pioneering works for pre-stripping at the
Chinchillas deposit.
Puna Operations Inc. is a joint venture comprised of the Pirquitas property and the Chinchillas property, owned 75% and
operated by SSR Mining. Chinchillas is a silver-lead-zinc deposit located approximately 42 kilometers by road from the Pirquitas
property. The pre-feasibility study on the Chinchillas project, filed under our profile on SEDAR on May
31, 2017, evaluates the development and construction of an open-pit mine and supporting infrastructure to supply ore to
the Pirquitas processing facilities over an eight-year active mining period. The operation is expected to produce a silver-lead
concentrate and a zinc concentrate with an average annual production of 6.1 million ounces of silver, 35.0 million pounds of lead
and 12.3 million pounds of zinc at cash costs of $7.40 per payable ounce of silver sold. The
Chinchillas project has low capital intensity with an estimated $81 million capital costs, based on
initial capital expenditures and utilizing certain property, plant and equipment from the Pirquitas property. The project has an
attractive post-tax net present value of $178 million, based on a 5% discount rate, and post-tax
internal rate of return of 29%. For additional information, refer to our news release dated May 31,
2017.
Paul Benson, President and CEO said, "Receipt of the EIA approval is another positive step
forward for our growth strategy. Our team can now accelerate development and construction activities to begin processing ore in
2018. Brownfields development of Chinchillas is a low capital, short payback opportunity to create value and growth for our
shareholders in the near term."
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Bruce Butcher, P.Eng., a Qualified Person under National Instrument 43-101 – Standards of Disclosure for
Mineral Projects and our Director, Mine Planning.
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer with three operations, including the Marigold gold mine in
Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada
and the 75%-owned and operated Puna Operations joint venture in Jujuy, Argentina. We also have
two feasibility stage projects and a portfolio of exploration properties in North and South
America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also
focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while
maintaining financial strength.
For further information contact:
W. John DeCooman, Jr.
Vice President, Business Development and Strategy
SSR Mining Inc.
Vancouver, BC
Toll free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@ssrmining.com
To receive SSR Mining's news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking
statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). All statements, other than statements of historical fact, are forward-looking statements. The forward-looking
statements in this news release relate to, among other things: the prices of silver and other metals; the effects of laws,
regulations and government policies affecting our operations or potential future operations; future successful development of the
Chinchillas project; estimated active mining period for the Chinchillas project; estimated average annual production rates for
silver and other metals produced by us; estimated cash costs per payable ounce of silver sold; timing of development,
construction and production at the Chinchillas project, including ore delivery to the Pirquitas mill in the second half of 2018;
estimated capital costs and the cost of sustaining capital; estimated initial capital expenditures; the estimates of expected or
anticipated economic returns from the Chinchillas project, including future sales of metals, concentrate or other products
produced by us; and our plans and expectations for Puna Operations. These forward-looking statements are subject to a variety of
known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed
or implied, including, without limitation, those various risks and uncertainties identified under the heading "Risk Factors" in
our most recent Annual Information Form filed with the Canadian securities regulatory authorities and included in our most recent
Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission. Our forward-looking statements are based on
what our management considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently
available to it. We cannot assure you that actual events, performance or results will be consistent with these forward-looking
statements, and management's assumptions may prove to be incorrect. Our forward-looking statements reflect current expectations
regarding future events and speak only as of the date hereof and we do not assume any obligation to update forward-looking
statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable
law. For the reasons set out above, you should not place undue reliance on forward-looking statements.
Cautionary Note Regarding Non-GAAP Measures
"This news release includes certain terms or performance measures commonly used in the mining industry that are not defined
under International Financial Reporting Standards ("IFRS"), including cash costs per payable ounce of precious metals sold.
Non-GAAP financial measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable
to similar measures reported by other companies. We believe that, in addition to conventional measures prepared in accordance
with IFRS, certain investors use this information to evaluate our performance. The data presented is intended to provide
additional information and should not be considered in isolation or as a substitute for measures of performance prepared in
accordance with IFRS. These non-GAAP measures should be read in conjunction with our consolidated financial statements. Readers
should refer to "Non-GAAP and Additional GAAP Financial Measures" in section 12 of our most recent management's discussion and
analysis, available under our corporate profile at www.sedar.com or on our
website at www.ssrmining.com, for a more detailed discussion of how we
calculate such measures and for a reconciliation of such measures to IFRS terms.
SOURCE SSR Mining Inc.
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