Mr. Neil Woodyer reports

ARIS MINING REPORTS Q3 2023 FINANCIAL AND OPERATING RESULTS: NET EARNINGS OF $12.4M, ADJUSTED EBITDA(1) OF $41.6M

Aris Mining Corp. has released its financial and operating results for the three and nine months ended Sept. 30, 2023 (third quarter (Q3) 2023 and year to date (YTD) 2023, respectively). All amounts are in U.S. dollars unless otherwise indicated.

Aris Mining chief executive officer Neil Woodyer stated: "During Q3 2023, our high-grade Segovia operations delivered strong results, contributing to total gold production of 60,193 ounces, an 11-per-cent increase over Q2 2023. Aris Mining is firmly on track to achieve our 2023 production guidance of 220,000 to 240,000 ounces. Over the nine months ended Sept. 30, our mines generated $54.9-million in free cash flow from operations (1), which funded $55.5-million in growth and expansion investments. We ended Q3 2023 with cash and cash equivalents of $211-million.

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

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

Q3 2023 conference call details

Management will host a conference call and webcast on Thursday, Nov. 9, 2023, at 9:30 a.m. PT (12:30 p.m. ET).

Participants can preregister on-line to join the call automatically.

Replay dial-in numbers:  1-800-319-6413 for Canada and the United States; 1-604-638-9010 for international

Replay access code:  0482

After the conference call, a replay of the event will be available on the Aris Mining website, investors, events and presentations.

About Aris Mining Corp.

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

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

(1) Non-IFRS (international financial reporting standards) measures

Free cash flow, cash costs (dollar per ounce sold), AISC (all-in sustaining costs) (dollar per ounce sold), EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted EBITDA, adjusted (loss)/earnings and expenditures on growth capital are non-IFRS financial measures and non-IFRS ratios. These measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable with other issuers.

We seek Safe Harbor.