Mr. Oliver Dachsel reports

ARIS MINING COMPLETES ACQUISITION TO INCREASE OWNERSHIP IN SOTO NORTE GOLD-COPPER PROJECT TO 51%

Further to Aris Mining Corp.'s news release of May 23, 2024, it has closed the acquisition of an additional 31-per-cent interest in the Soto Norte gold-copper project in Colombia (Soto Norte or PSN), increasing its total ownership in the joint venture to 51 per cent. Soto Norte is one of the largest undeveloped underground gold projects in South America.

As consideration for the additional 31-per-cent interest of PSN:

• Aris Mining has issued 15.75 million shares to a wholly owned subsidiary of the Abu Dhabi-based investment company Mubadala Investment Company PJSC (Mubadala), which shares will be subject to a 12-month hold period.
• An additional six million shares will be issued to Mubadala on receipt of an environmental licence for PSN.
• Mubadala is retaining a 49-per-cent interest in PSN. Aris Mining will sole finance certain operating costs on behalf of the joint venture during the prelicensing period. Non-operating and project construction costs will be financed on a pro rata ownership basis.

In March, 2022, Aris Mining disclosed the results of mineral resource and reserve estimates and a feasibility study for the Soto Norte gold project in a National Instrument 43-101-compliant technical report with an effective date of Jan. 1, 2021 (the feasibility study). The Feasibility study includes a 7,200-tonne-per-day capacity processing plant with average annual production of over 450,000 gold ounces (oz) over an 11-year production period at average all-in sustaining costs (AISC) of $471 (U.S.)/oz from a 5.0-million-ounce mineral reserve1.

In 2023, Aris Mining completed a technical and economic assessment of PSN that considered a scaled-down mining concept. To confirm and optimize our assessments and streamline permitting processes, the company has decided to undertake feasibility study level work on a new, smaller scale development plan with optimizations including: (i) reducing the environmental footprint, (ii) building a smaller processing plant with a longer operating life, (iii) adopting a flexible mining method to target higher-grade material earlier in the mine life, (iv) installing a paste backfill plant to minimize surface tailings storage requirements and, (v) replacing the 6.9-kilometre tunnel to connect the mine and the processing plant site with an aerial ropeway, a material movement approach utilized in Colombia and other jurisdictions.

The Soto Norte region in Colombia is a significant mining district, hosting numerous small-scale mining operations. Aris Mining's partnership model, successfully implemented at its Segovia operations, increases gold production while benefiting contract mining partners, the government and the environment. The new development plan for PSN will integrate processing solutions for local contract mining partners. By supporting the formalization of traditional miners into contract mining partners, Aris Mining aims to enhance economic development and environmental practices at Soto Norte.

Technical disclosure and qualified person

The technical information in this news release was reviewed and approved by Pamela De Mark, PGeo, senior vice-president, geology and exploration, for Aris Mining, who is a qualified person as defined by NI 43-101. Unless otherwise indicated, the mineral resource and reserve estimates, scientific disclosure, and technical information included in this news release are based upon information included in the following NI 43-101-compliant technical report: "NI 43-101 technical report feasibility study of the Soto Norte gold project, Santander, Colombia," dated March 21, 2022, with an effective date of Jan. 1, 2021 (the Soto Norte technical report). The Soto Norte technical report was prepared by Ben Parsons, MSc, MAusIMM, CP (competent person), Chris Bray, BEng, MAusIMM (CP), and Dr. John Willis PhD, BE (MET), MAusIMM (CP), and Dr. Henri Sangam, PhD, PEng, each of whom is independent of Aris Mining within the meaning of NI 43-101, and is a qualified person as such term is defined in NI 43-101. The report was also prepared by Robert Anderson, PEng, a qualified person who is considered non-independent of Aris Mining. The Soto Norte technical report is available for download on Aris Mining's website, and on Aris Mining Holdings Corp.'s (Aris Holdings) SEDAR+ profile and in Aris Mining's filings with the SEC (Securities and Exchange Commission). Aris Holdings is a subsidiary of Aris Mining.

About Aris Mining Corp.

Aris Mining is a gold producer in the Americas, currently operating two mines with expansions under way in Colombia. The Segovia operations and the Marmato upper mine produced 226,000 ounces of gold in 2023. Aris Mining is targeting a production rate of 500,000 ounces of gold per year in the second half of 2026, following a ramp-up period after the Segovia mill expansion, scheduled for completion in Q1 2025, and the Marmato lower mine's first gold pour in late 2025. Aris Mining also operates the Soto Norte joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine. In Guyana, Aris Mining is advancing Toroparu, a gold/copper project. Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification.

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

We seek Safe Harbor.