VANCOUVER, BC, July 6, 2020 /CNW/ - SSR Mining Inc. (NASDAQ:
SSRM) (TSX: SSRM) ("SSR Mining" or the "Company") is pleased to
announce that our Marigold mine achieved another major
milestone with the production of its four millionth ounce of gold
on June 30, 2020. The Marigold mine
has been in continuous operation for more than 30 years and
produced a record 220,227 ounces of gold in 2019.
Paul Benson, President and CEO
said, "Four million ounces of gold from continuous production is a
testament to the scale and quality of the Marigold deposits and the
commitment of the Marigold team. Since the mine began operating in
1989, it has consistently replaced Mineral Reserves and Mineral
Resources and today it has a longer mine life than when it opened.
We are advancing several exploration targets across our Marigold,
Valmy, and Trenton Canyon land
packages which have the potential to increase Mineral Resources.
With the recent promising sulphide ore intercepts at Trenton
Canyon, the Marigold mine continues to demonstrate its exploration
potential and longevity."
Additionally, SSR Mining is increasing its Marigold 2020
exploration expenditures to $14
million, a $2 million
increase, to accelerate reverse circulation and diamond drilling at
the Trenton Canyon sulphide gold discovery reported in our press
release dated May 14, 2020..
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 Puna Operations 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.
Senior 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") concerning the anticipated developments in our
operations in future periods, and other events or conditions that
may occur or exist in the future. All statements, other than
statements of historical fact, are forward-looking statements.
Generally, forward-looking statements can be identified by the use
of words or phrases such as "expects," "anticipates," "plans,"
"projects," "estimates," "assumes," "intends," "strategy," "goals,"
"objectives," "potential," "believes," or variations thereof, or
stating that certain actions, events or results "may," "could,"
"would," "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms or similar
expressions. The forward-looking statements in this
news release relate to, among other things: our ability to define
additional Mineral Resources at the Marigold mine and the
Valmy and Trenton Canyon projects;
; the impact of the COVID-19 outbreak on our business and financial
condition, including the temporary suspension of operations at the
Seabee Gold Operation; our exploration expenditure guidance; and
our plans and expectations for our properties and 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, the following: uncertainty of
production, development and exploration plans and cost estimates
for the Marigold mine, the Seabee Gold Operation, Puna Operations
and our projects, including as a result of COVID-19; the duration
of the suspension of operations at the Seabee Gold Operation and
Puna Operations, and the development and implementation of plans to
resume operations; disruptions to our supply chain, customers and
workforce due to the COVID-19 outbreak; the responses of the
relevant governments to the COVID-19 outbreak not being sufficient
to contain the impact of the COVID-19 outbreak; an economic
recession or downturn as a result of the COVID-19 outbreak that
materially adversely affects our operations or liquidity position;
and 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 to U.S. Investors
This news release includes Mineral Reserves and Mineral
Resources classification terms that comply with reporting standards
in Canada and the Mineral Reserves
and the Mineral Resources estimates are made in accordance with
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101"). NI 43-101 is a rule developed by the
Canadian Securities Administrators that establishes standards for
all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. These standards differ
significantly from the requirements of the SEC set out in SEC
Industry Guide 7. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC. Under SEC standards,
mineralization may not be classified as a "reserve" unless the
determination has been made that the mineralization could be
economically produced or extracted at the time the reserve
determination is made.
In addition, the SEC's disclosure standards normally do not
permit the inclusion of information concerning "Measured Mineral
Resources," "Indicated Mineral Resources" or "Inferred Mineral
Resources" or other descriptions of the amount of mineralization in
mineral deposits that do not constitute "reserves" by U.S.
standards in documents filed with the SEC. U.S. investors should
understand that "Inferred Mineral Resources" have a great amount of
uncertainty as to their existence and great uncertainty as to their
economic and legal feasibility. Moreover, the requirements of NI
43-101 for identification of "reserves" are also not the same as
those of the SEC, and reserves reported by us in compliance with NI
43-101 may not qualify as "reserves" under SEC standards.
Accordingly, information concerning mineral deposits set forth
herein may not be comparable with information made public by
companies that report in accordance with U.S. standards.
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content:http://www.prnewswire.com/news-releases/marigold-produces-four-millionth-gold-ounce-2020-exploration-budget-increased-301088690.html
SOURCE SSR Mining Inc.