Mr. Neil Woodyer reports

ARIS MINING REPORTS 2023 RESULTS WITH GUIDANCE ACHIEVED, NET EARNINGS OF $11.4M, ADJUSTED EARNINGS OF $52.2M ($0.38/SHARE), ADJUSTED EBITDA OF $159M

Aris Mining Corp. has released its financial and operating results for the three and 12 months ended Dec. 31, 2023 (fourth quarter (Q4) 2023 and fiscal year (FY) 2023, respectively). All amounts are in U.S. dollars unless otherwise indicated.

Aris Mining chief executive officer Neil Woodyer stated: "In 2023, we restructured the operations team and introduced new operating procedures following the combination of GCM Mining and Aris Gold in September, 2022. The new team achieved consistent quarter-over-quarter increases in gold production during 2023, significantly enhancing our position in 2024 and the future. We have achieved the initial phase of our vision to create an attractive gold mining company for investors by integrating profitable operations with exploration potential and growth projects.

"During 2023, our high-grade Segovia operations produced 202,940 ounces of gold at a processed grade of 10.4 g/t, with all-in sustaining costs per ounce of $1,173, achieving production and AISC guidance. For the full year 2023, our mines generated $75.4-million in free cash flow from operations, which largely funded $84.2-million in growth and expansion investments, and we ended the year with a cash position of $195-million.

"With strong gold production results and substantial growth in mineral reserves and resources at our Segovia operations, we have started construction to increase its processing capacity by 50 per cent to 3,000 tonnes per day, with completion expected in early 2025. As the new capacity is used, we expect to increase annual gold production at Segovia to over 300,000 ounces. Construction at our Marmato lower mine project has ramped up with initial access roads completed, the lead contractor for portal and decline development selected, and tenders for key items for the new processing plant under way. We are on pace to reach 500,000 ounces of gold production in Colombia in 2026."

Aris Mining's audited consolidated financial statements for three-month periods and years ended Dec. 31, 2023, and Dec. 31, 2022, and the related MD&A (management's discussion and analysis) are available on SEDAR+, and the annual filings and Aris Mining's annual report on Form 40-F for the year ended Dec. 31, 2023, are available in the company's filings with the U.S. Securities and Exchange Commission (SEC) and in the financials section of Aris Mining's website. Hard copies of the audited financial statements are available free of charge by written request to info@aris-mining.com.

FY 2023 conference call details

Management will host a conference call on Thursday, March 7, 2024, at 11 a.m. ET (8 a.m. PT), to discuss the results and outlook for 2024. The call will be webcast and can be accessed at Aris Mining's website.

To join the conference via telephone dial one of the following numbers.

Toll-free in North America:  1-866-668-0730

International:  1-604-638-5357

Participants may also choose to preregister on-line to join the conference call automatically. Upon registering, participants will receive a calendar invitation with dial-in details and a unique PIN (personal identification number), which will allow them to bypass the operator queue and connect directly to the conference.

The call will be available for playback for one week by dialling one of the following numbers.

Toll-free in the United States and Canada:  1-800-319-6413

International:  1-604-638-9010

Replay access code:  0729

A replay of the event will be archived on the Aris Mining website.

About Aris Mining Corp.

Aris Mining is a gold producer in the Americas with an attractive blend of current production, exploration and growth projects. The company operates two mines in Colombia, the Segovia operations and Marmato upper mine, known for their high-grade deposits, which produced 226,000 ounces of gold in 2023. With expansion projects in progress, Segovia and Marmato aim to produce a combined 500,000 ounces of gold in 2026. Aris Mining also operates and is the 20-per-cent owner of 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 is committed to pursuing acquisitions and other growth opportunities to unlock value through scale and diversification.

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