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DENVER--(BUSINESS WIRE)--SSR Mining Inc. (Nasdaq/TSX: SSRM) (“SSR Mining”, the “Company”, “we”, “us”, or “our”) announces the results of a Technical Report Summary (“TRS”) for the Marigold Gold Complex (“Marigold”) in Nevada, USA (the “2026 Marigold TRS”).

Highlights of the 2026 Marigold TRS: (1,2)

After-tax NPV5% of $3.3 billion at consensus gold prices averaging $3,948 per ounce over the 20-year life of mine Average annual gold production of 231,000 ounces over the five-year period from 2027 to 2031, 201,000 ounces through 2040, and 169,000 ounces over the life of mine Over the period of active mining, annual after-tax operating cash flow and after-tax free cash flow averages $354 million and $273 million, respectively, based on consensus gold prices Gold Mineral Reserves at Marigold total 4.6 million ounces, an increase of 43% from the 3.2 million ounces at year-end 2025, with a significant Mineral Resource base demonstrating additional potential for longer-term upside Measured & Indicated Mineral Resources, exclusive of Mineral Reserves, total 1.7 million ounces of gold as compared to the 1.8 million ounces of M&I Resources as of year-end 2025 Inferred Mineral Resources are an additional 0.3 million ounces of gold as compared to the 0.5 million ounces as of year-end 2025 Inclusive of mined depletion, gold Mineral Reserves in the 2026 Marigold TRS increased significantly as compared to the 2024 TRS, while Indicated and Inferred Mineral Resources remained materially unchanged over the same time period The gold prices used in the calculation of Marigold Mineral Reserves and Mineral Resources are $2,200/oz and $2,500/oz, respectively 2026 Marigold TRS incorporates the maiden life of mine plan for the Buffalo Valley project (“Buffalo Valley”) with 0.7 million ounces of gold Mineral Reserves and first production expected in 2029 Growth capital investment over the life of mine totals $542 million, including the development of Buffalo Valley and its stand-alone heap leach facility, as well as fleet additions to support a 33% increase in overall mining rates at Marigold to an average of 138 million tonnes per annum Investment in fleet modernization and expansion will improve productivity and operational flexibility to support the multi-decade mine life at Marigold Rod Antal, Executive Chairman of SSR Mining, said, “Today’s updated life of mine plan reinforces Marigold’s position as a premier, multi-decade asset in the United States. Over the next three years, we plan to invest in Marigold to modernize the operation for future success through fleet and heap leach pad expansions that aim to improve its operational flexibility and reliability.

Importantly, over the next five years we expect Marigold will average more than 230,000 ounces of gold production annually, aligned with the prior TRS expectations and supporting average annual gold production of approximately 360,000 ounces from our U.S. assets over that period. Longer-term, the mine is expected to average 200,000 ounces of gold production annually through 2040, delivering a more than 50% increase in life of mine production over the prior mine plan.

Investing in organic growth is one of the key pillars of our capital allocation strategy, and this TRS provides a clear pathway for us to execute on that strategy and create value for shareholders. This new mine plan increases Mineral Reserves by 43% as compared to year-end 2025 while Indicated and Inferred Resources remain essentially unchanged, demonstrating our track record of exploration and resource development success while highlighting further potential for additional mine life extension in the future.”

The TRS, with an effective date of May 1, 2026, has been prepared in accordance with S-K 1300 and will be available on October 13, 2026 on the Company’s website and on a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission (“SEC”).

Table 1: 2026 Marigold TRS – Key Metrics (3)

Five-Year Profile

Active Mining

Total Mine Life

Unit

2027 – 2031

2027 – 2040

2027 – 2050

Total Gold Production

Au koz

1,153

2,816

3,208

Average Annual Gold Production

Au koz

231

201

169

Total Operating Cash Flow (GAAP)

$M

$2,353

$4,955

$5,978

Total Capital Costs (GAAP) (4)

$M

$817

$1,133

$1,231

Total Free Cash Flow (non-GAAP) (5)

$M

$1,536

$3,822

$4,747

Average Annual Free Cash Flow

$M

$307

$273

$253

Cost of Sales (GAAP)

$/oz sold

$1,990

$1,959

$1,793

Cash Costs (non-GAAP) (5)

$/oz sold

$1,991

$1,960

$1,795

All-In Sustaining Costs (non-GAAP) (5)

$/oz sold

$2,279

$2,183

$2,005

Table 2: 2026 Marigold TRS – After-Tax NPV Sensitivity

LOM Average Gold Price

$/oz

$3,158

$3,553

Base Case (6)

$4,342

$4,737

Sensitivity

%

-20%

-10%

—

+10%

+20%

NPV5%

$M

$1,609

$2,471

$3,334

$4,196

$5,058

Marigold Mineral Reserves and Mineral Resources (“MRMR”) (7)

Marigold is located in southeastern Humboldt County, Nevada, United States on the Battle Mountain-Eureka trend, approximately 5 kilometers south-southwest of the town of Valmy, Nevada. The Marigold Complex includes the Marigold Mine and the Buffalo Valley and Trenton Canyon deposits. Buffalo Valley is located approximately 24 kilometers southwest of the main infrastructure at Marigold. Since commencing operations in 1989, Marigold has produced over 5 million ounces of gold.

Table 3: 2026 Marigold TRS – MRMR as of May 1, 2026

(100% attributable)

Tonnes (Mt)

Grade (g/t)

Gold (Moz)

Total P+P Reserves

359

0.40

4.63

M&I Mineral Resources

131

0.40

1.66

Inferred Mineral Resources

29

0.31

0.29

Combining Marigold with the Company’s CC&V gold mine in Colorado established SSR Mining as the third largest gold producer in the USA. Both operations now feature multi-decade mine lives and host significant Mineral Resource bases to support potential for future growth and extension.

2026 Marigold TRS Overview

Geological understanding of the Marigold Complex is supported by more than three decades of mining operations, extensive exploration programs, geologic mapping, geophysical surveys, metallurgical testing, production history, and ongoing resource definition drilling.

Mining & Processing

The 2026 Marigold life of mine plan features 15 years of active mining and 20 years of total production, inclusive of heap leach pad rinsing and drawdown. The Marigold Complex mine plan outlined in the 2026 Marigold TRS has five distinct areas of mining: the main Mackay pit (including the Red Dot and DG80 areas), the North Mackay pits, the Valmy pits, the New Millennium area, and Buffalo Valley. A separate mining fleet of 8 to 10 trucks and two hydraulic shovels was initially considered for Buffalo Valley, however, procuring additional trucks and loading units in 2027 allows for accelerated waste stripping at Marigold ahead of initial development at Buffalo Valley. Peak fleet size in the 2026 Marigold TRS is 45 haul trucks, six shovels and two loaders. This expanded fleet is then adequate to operate both Marigold and Buffalo Valley simultaneously over the life of mine and enables increased flexibility in mine planning going forward.

On average, the operating period from 2026 to 2040 includes average mining rates of approximately 380,000 tonnes per day (138.3 million tonnes per annum) with a life of mine strip ratio of 5.3:1. Stacking rates are expected to average approximately 20 million tonnes per annum at Marigold over the life of mine, while the Buffalo Valley heap leach facility is designed to accommodate stacking rates of up to 14 million tonnes per annum. The life of mine gold recovery across Marigold and Buffalo Valley is 72% over an average of 90 to 120 day leach cycle, with an average stacked grade of 0.44 grams per tonne. Life of mine gold production totals 3.34 million ounces, including approximately 0.3 million ounces of current work-in-progress inventory recovered over the life of mine.

The Buffalo Valley heap leach facility will be constructed and operated in a manner very similar to the main Marigold facility. Run of mine ore will be truck stacked in 7.5 meter to 12.5 meter lifts. Following heap leaching, pregnant solution will be pumped into three Carbon-in Column (CIC) trains for adsorption. Loaded carbon from the adsorption circuit will be transported to the Marigold elution facility for final recovery, with barren carbon then transported back to the Buffalo Valley facility. Buffalo Valley will require upgrades to the road connecting to main Marigold facilities, and will require the construction of approximately 14.5 kilometers of power line from the existing North Peak power line to service the project site.

Table 4: 2026 Marigold TRS – Operating Metrics Summary

Unit

Life of Mine

Total Material Mined

Mt

1,881

Average Daily Mining Rate

ktpd

380

Total Ore Mined

Mt

298

Total Waste Mined

Mt

1,583

Strip Ratio

W:O

5.3:1

Total Ore Processed

Mt

298

Average Daily Processing Rate

ktpd

58

Ore Grade Stacked

g/t

0.44

Contained Gold Stacked

koz

4,255

Gold Recovery

%

72%

Infrastructure

The Marigold Complex is accessed via a five kilometer public road connected to the U.S. Interstate Highway 80. Marigold is grid connected, while water for operations is supplied by three existing groundwater production wells. Mine dewatering wells are used to supplement production wells when needed. Where possible, operations at Buffalo Valley will leverage existing infrastructure at Marigold, including the maintenance facilities and administrative offices. A tailings storage facility (TSF) is present at Marigold but has been decommissioned since operations transitioned solely to heap leaching.

Operating Costs

Forecasted operating cost estimates related to the development of the 2026 Marigold TRS are derived from annual budgets and historical actuals over the long life of the current operation. The life of mine operating cost estimate for the Marigold Complex is $16.78 per tonne of stacked ore. Life of mine operating costs in the 2026 Marigold TRS do not account for non-cash inventory movements and other minor non-cash items that impact the Company’s calculation of cash costs and AISC.

Table 5: 2026 Marigold TRS – Mine Operating Cost Summary

Operating Costs

Life of Mine ($M)

Stacked ($/Tonne)

Mining & Maintenance

$3,741

$12.57 ($1.99/t moved)

Processing

$804

$2.70

G&A

$451

$1.51

Total Costs

$4,996

$16.78

Labor and diesel are the two largest components of operating costs at Marigold. Diesel prices for the economic analysis were based on the latest available consensus forward-looking price forecasts and compared to those used in other published studies. Near-term diesel price assumptions in the 2026 Marigold TRS average approximately $4.00/gallon before normalizing to $3.00/gallon over the long-term. The effective NSR royalty on the Marigold property in the 2026 Marigold TRS is approximately 6.9%, while the effective NSR royalty for the Buffalo Valley deposit is fixed at 3.5% over the life of mine.

Capital Costs

Total life of mine capital outlined in the 2026 Marigold TRS is $1,385 million, including $669 million in sustaining capital. Sustaining capital costs include:

Replacement of mining equipment as it reaches its economic life during the active mining period. The majority of the mining equipment replacement costs relate to replacing haul trucks and excavators, as well as drills and mine support equipment Major equipment rebuilds and component replacement to sustain equipment availability over the life of mine Administration costs and various site infrastructure improvements Ongoing cost associated with process infrastructure Permitting costs mainly associated with dewatering infrastructure (wells, pipelines, rapid infiltration basins) that are required to manage the water table in advance of planned mine development Table 6: 2026 Marigold TRS – Total Capital Breakdown (2026+)

Capital Costs

Life of Mine ($M)

Development Capital

$542

Sustaining Capital

$669

Reclamation

$175

Total Capital

$1,385

The life of mine growth capital at Marigold totals $542 million, including all capital associated with major leach pad expansion at Marigold, development of Buffalo Valley, and the expansion of the Marigold mining fleet. These investments support the development and mining of Buffalo Valley, as well as enable the execution of the extended Marigold life of mine plan.

Table 7: 2026 Marigold TRS – Growth Capital Breakdown (2026+)

Description

Life of Mine ($M)

Amount (%)

Mining Equipment – Expansion

$265

49%

Heap Leach Facilities – Expansion

$57

11%

Buffalo Valley Development

$220

40%

Growth Capital Costs as of May 1, 2026

$542

100%

The costs associated with reclamation and closure activities at Marigold are estimated to be $175 million, with the majority of these costs incurred from 2038 to the end of the current life of mine plan.

Additional Potential for Upside at Marigold

The 2026 Marigold TRS outlines 1.7 million ounces of gold Indicated Mineral Resources, exclusive of Mineral Reserves, and an additional 0.3 million ounces of gold Inferred Mineral Resources across the Marigold Complex. These Mineral Resources represent potential opportunities for future conversion to Mineral Reserves. Mineral Resources in the 2026 Marigold TRS were calculated using a gold price assumption of $2,500/oz.

SSR Mining continues to invest in resource development and exploration drilling across the Marigold Complex to evaluate future growth potential, particularly through the continued expansion of currently defined Mineral Reserve pits. In 2026, SSR Mining planned for more than 10 kilometers of drilling on brownfield targets across the property, including in the underexplored southern end of the property where new discoveries could support further heap leach expansions to further optimize ore and waste movements.

Additionally, potential increases to the gold price assumptions used in the calculation of Mineral Reserves and Resources could add to current MRMR totals at Marigold in the future.

Assumptions

All figures are in U.S. dollars, unless otherwise noted. The gold price used in the calculation of Mineral Reserves was $2,200 per ounce and the gold price used in the calculation of Mineral Resources was $2,500 per ounce. The TRS is based on gold prices of: 2026 - $4,637/oz; 2027 - $4,794/oz; 2028 - $4,616/oz; 2029 - $4,355/oz; 2030 - $3,991/oz; and long-term - $3,710/oz. Diesel price assumptions used in the TRS were: $4.00/gal for 2027 and 2028, $3.50/gal in 2029 and $3.00/gal long-term. All references to tonnage in this press release are in metric tonnes unless otherwise noted. Key assumptions used in the preparation of the TRS are subject to risks and uncertainties described under “Cautionary Note Regarding Forward-Looking Information and Statements”.

Marigold Technical Report Summary

The Marigold TRS is expected to be included as an exhibit to our Current Report on Form 8-K that is filed with the SEC by October 13, 2026 and will be available for review on EDGAR at sec.gov at that time. This press release does not purport to be a complete summary of the Marigold TRS and is qualified in its entirety by reference to the Marigold TRS that we will file with the SEC. You should read this press release in conjunction with the Marigold TRS, including the qualifications and limitations described therein, as there may be information in the Marigold TRS that may be important.

About SSR Mining

SSR Mining Inc. is a free-cash-flow-focused gold and silver mining company and the third-largest gold producer in the United States. SSR Mining has a diversified portfolio of operating, development and exploration assets across the Americas, including four operating mines in the USA, Canada, and Argentina. In 2026, SSR Mining is expected to produce between 450,000 and 535,000 Gold Equivalent Ounces. The Company is headquartered in Denver, Colorado and is listed under the ticker symbol SSRM on the Nasdaq Stock Market and the Toronto Stock Exchange.

For more information, please visit: www.ssrmining.com.

Cautionary Note Regarding Forward-Looking Information and Statements:

Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking statements, forward-looking information, future oriented financial information, or financial outlooks (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and in some cases, can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions, as well as statements written in the future tense or that are not historical facts.

Forward-looking information in this news release includes any statements concerning, among other things: all information related to the Company’s Marigold operations, including forecasts and outlook; preliminary cost reporting in this document; timing, production, operating, cost, and capital expenditure guidance; our operational and development targets and catalysts and the impact of any suspensions on operations; growth initiatives, the results of any gold reconciliations; the ability to discover additional oxide gold ore; the generation of free cash flow and returning cash to shareholders, including via share repurchases or dividends; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; negotiation and completion of transactions; commodity prices; Mineral Resources, Mineral Reserves, conversion of Mineral Resources, realization of Mineral Reserves, and the existence or realization of Mineral Resource estimates; the development approach; the timing and amount of future production; the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans; receipt of regulatory approvals; timing and impact surrounding suspension or interruption of operations as a result of regulatory requirements or actions by governmental authority; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions. The estimation of mineral resources is inherently uncertain and involves subjective judgments about many relevant factors. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation (including estimated future production from Marigold, the anticipated tonnages and grades that will be mined and the estimated level of recovery that will be realized), which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate.

Such forward-looking information is subject to various risks and uncertainties and based on a number of material factors and assumptions, which could cause actual results and experience to differ materially from anticipated results or expectations expressed in this news release, including, but not limited in any manner to, those disclosed from time to time in our reports filed with the SEC on EDGAR, including the “Risk Factors” section of our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as applicable, and the Canadian securities regulatory authorities on SEDAR+, and include: the assumptions made in respect of the Company’s Marigold operations; the inherent speculative nature of exploration results; the ability to explore; local and global political and economic conditions; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of joint ventures; weather conditions at our operations; commodity prices; the ultimate determination of and realization of Mineral Reserves; existence or realization of Mineral Resources; the development approach; availability and receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize, and execute relevant agreements; the Company’s ability to efficiently integrate acquired mines and businesses and to manage the costs related to any such integration, or to retain key technical, professional or management personnel; lack of social opposition to our mines or facilities; lack of legal challenges with respect to our properties; the timing and amount of future production; the ability to meet production, cost, and capital expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral products on economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

The above list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. You should not place undue reliance on forward-looking information. Forward-looking information are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information are based are reasonable, undue reliance should not be placed on the forward-looking information because we can give no assurance that they will prove to be correct. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Qualified Persons

The scientific and technical information concerning our mineral projects in this news release have been reviewed and verified by SLR International Corporation, a “qualified person” under subpart 1 of Regulation S-K 1300 (“S-K 1300”) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). For a description of the key assumptions, parameters and methods used to estimate Mineral Reserves and Mineral Resources included in this news release, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for the properties discussed in this news release, which are available under the Company’s corporate profile on EDGAR at www.sec.gov.

Supplemental Mineral Reserve and Mineral Resource Information

Marigold’s Mineral Reserves and Mineral Resources have been classified in accordance with the definitions for Mineral Resources in S-K 1300. Mineral Resources are presented on a project basis and have an effective date of May 1, 2026. Mineral Reserves and Mineral Resources have been reported on a 100% basis as SSR Mining wholly owns the property.

The TRS contains detailed descriptions of data verification, sampling and assay procedures, quality assurance and quality control measures, key assumptions, parameters, risks and other factors supporting the mineral resource and mineral reserve estimates and the economic analysis.

Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues. The deposit has been classified as Indicated and Inferred based on drill spacing appropriate to the deposit and mineralization style. The quantity and grade of reported Inferred resources are uncertain in nature, and there has not been sufficient work to define these Inferred Mineral Resources as Indicated or Measured resources. There is no certainty that any part of a mineral resource will ever be converted into mineral reserves.

The following tables provide a summary of Mineral Reserves and Mineral Resources for Marigold with an effective date of May 1, 2026 as included within the 2026 Marigold TRS:

Proven

Probable

Proven + Probable

Metallurgical

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Recovery

(Mt)

(g/t)

(Moz)

(Mt)

(g/t)

(Moz)

(Mt)

(g/t)

(Moz)

(%)

Marigold

—

—

—

240.4

0.46

3.52

240.4

0.46

3.52

73.5%

Buffalo Valley

—

—

—

45.3

0.46

0.67

45.3

0.46

0.67

65.9%

Stockpile

—

—

—

12.0

0.17

0.06

12.0

0.17

0.06

56.3%

Leach Pad Inventory

—

—

—

61.0

0.19

0.37

61.0

0.19

0.37

65.2%

Total

—

—

—

358.7

0.40

4.63

358.7

0.40

4.63

71.5%

(1)

The Mineral Reserve estimate was prepared in accordance with S-K 1300 definitions.

(2)

The Marigold Mine Mineral Reserve estimate is based on a metal price assumption of $2,200/oz gold and is reported at a cut-off grade of 0.069 g/t payable Au (Au assay factored for recovery, royalty, and net proceeds).

(3)

The Buffalo Valley Mineral Reserve estimate assumes ROM heap leach processing and a gold price of $2,200/oz. Cut-off grades range from 0.069 to 1.767 g/t payable Au, and metallurgical recoveries range from 3.1% to 79.2%, both varying by lithology/metallurgical domain.

(4)

No mining dilution is applied to the grade of the Mineral Reserves. Dilution intrinsic to the Mineral Reserves estimate is considered sufficient to represent the mining selectivity considered.

(5)

Bulk densities (in t/m3) were assigned by lithologies: alluvium = 2.10, Havallah = 2.48, Valmy/Antler = 2.4076+(0.0001*DEPTH), and Valmy = 2.64. For Buffalo Valley, bulk densities (in t/m3) were assigned by lithology ranging from a low of 2.426 (Overburden) to a high of 2.737 (Basalt) with a weighted average of 2.63.

(6)

The Property is 100% owned by SSR through its subsidiary MMC.

(7)

All ounces reported represent troy ounces, and g/t represents grams per metric tonne.

(8)

The point of reference for Mineral Reserves is the entry to the carbon columns in the processing facility.

(9)

Totals may vary due to rounding.

Measured

Indicated

Measured + Indicated

Inferred

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

(Mt)

(g/t)

(Moz)

(Mt)

(g/t)

(Moz)

(Mt)

(g/t)

(Moz)

(Mt)

(g/t)

(Moz)

Marigold

—

—

—

125.0

0.39

1.57

125.0

0.39

1.57

18.1

0.30

0.18

Buffalo Valley

—

—

—

5.6

0.53

0.09

5.6

0.53

0.09

11.2

0.31

0.11

Total

—

—

—

130.6

0.40

1.66

130.6

0.40

1.66

29.3

0.31

0.29

(10)

The Mineral Resource estimate was prepared in accordance with S-K 1300.

(11)

The effective date of Mineral Resources at Marigold is May 1, 2026, and the effective date of Mineral Resources at Buffalo Valley is May 1, 2026.

(12)

Marigold Mine is based on an optimized pit shell at a cut-off grade of 0.069 g/t payable gold (gold assay factored for recovery, royalty, and net proceeds). Buffalo Valley is based on a cut-off grade of 0.10 to 0.32 g/t contained gold, depending on material type.

(13)

Marigold metallurgical recoveries vary with gold grade. Buffalo Valley metallurgical recoveries vary with gold grade and lithology.

(14)

For Marigold, bulk densities (in t/m3) were assigned by lithologies: alluvium = 2.10, Havallah = 2.48, Valmy/Antler = 2.4076+(0.0001*DEPTH), and Valmy = 2.64, below 533m. For Buffalo Valley, bulk densities (in t/m3) were assigned by lithology, ranging from a low of 2.095 (Overburden) to a high of 2.725 (Basalt).

(15)

The Mineral Resources estimate is reported below the as-mined surface as of May 1, 2026, for Marigold, and below the as-mined surface as of May 1, 2026, for Buffalo Valley.

(16)

The point of reference for Mineral Resources is the entry to the carbon columns in the processing facility.

(17)

Mineral Resources are reported exclusive of Mineral Reserves.

(18)

SSR Mining has 100% ownership of the Marigold Complex.

(19)

Gold grades are given in grams per metric tonne (g/t).

(20)

Totals may vary due to rounding.

For Information regarding CC&V’s Mineral Reserves and Mineral Resources, refer to Item 2. Properties in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed on February 17, 2026 and the Technical Report Summary included as an exhibit to our Annual Report on Form 10-K.

The following tables provide a summary of Mineral Reserves and Mineral Resources for CC&V for the year ended December 31, 2025 as included within the Company’s Annual Report:

Proven

Probable

Proven + Probable

Metallurgical

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Recovery

(kt)

(g/t)

(koz)

(kt)

(g/t)

(koz)

(kt)

(g/t)

(koz)

(%)

CC&V (OP)

105,440

0.44

1,480

46,566

0.41

607

152,006

0.43

2,087

52%

CC&V (Stockpile)

—

—

—

68,205

0.26

564

68,205

0.26

564

47%

Total

105,440

0.44

1,480

114,771

0.32

1,171

220,211

0.37

2,651

50%

(1)

The Mineral Reserve estimate was prepared in accordance with S-K 1300 definitions

(2)

CC&V Mineral Reserves are reported at a cut-off grade for crush leach is 0.10g/t Au extractable cyanide soluble (factored for recovery) and run of mine leach is 0.069 g/t Au extractable cyanide soluble (factored for recovery).

(3)

Metallurgical recoveries vary by lithology and oxidation state and ranges between 24.8-94.9% .

(4)

No mining dilution is applied to the grade of the Mineral Reserves. Dilution intrinsic to the Mineral Reserves estimate is considered sufficient to represent the mining selectivity considered.

(5)

The point of reference for Mineral Reserves is the entry to the carbon columns in the processing facility.

(6)

Leach Pad Inventory of 360 koz represents work-in-process gold and is 100% recoverable over the LOM.

(7)

Totals may vary due to rounding.

Measured

Indicated

Measured + Indicated

Inferred

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

Tonnage

Au Grade

Gold

(kt)

(g/t)

(koz)

(kt)

(g/t)

(koz)

(kt)

(g/t)

(koz)

(kt)

(g/t)

(koz)

CC&V (OP)

157,034

0.49

2,456

149,020

0.43

2,078

306,054

0.46

4,534

149,352

0.41

1,963

CC&V (Stockpile)

—

—

—

32,028

0.26

272

32,028

0.26

272

—

—

—

Total

157,034

0.49

2,456

181,048

0.40

2,350

338,082

0.44

4,805

149,352

0.41

1,963

(8)

The Mineral Resource estimate was prepared in accordance with S-K 1300.

(9)

CC&V Mineral Resources are reported based on $2,000/oz gold price. Mineral Resources estimate was prepared in accordance with S-K 1300.

(10)

Mineral Resource estimate is based on an optimized pit shell. CC&V Mineral Resources are reported at a gold cut-off grade for crush leach of 0.10 g/t gold extractable cyanide soluble (factored for metallurgical recovery) and run of mine leach of 0.069 g/t gold extractable cyanide soluble (factored for metallurgical recovery).

(11)

Metallurgical recoveries vary with gold grade, range between 24.8-94.9%.

(12)

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

(13)

The point of reference for Mineral Resources is the entry to the carbon columns in the processing facility.

(14)

Totals may vary due to rounding.

Cautionary Note Regarding Non-GAAP Measures

We have included certain non-GAAP performance measures throughout this document to assist in understanding our financial results. These performance measures are employed by us to measure our operating and economic performance internally and to assist in decision-making, as well as to provide key performance information to senior management. We believe that, in addition to measures prepared in accordance with GAAP, certain investors and other stakeholders will find this information useful to evaluate our operating and financial performance; however, these non-GAAP performance measures do not have any standardized meaning. These performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definitions of our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. These non-GAAP measures should be read in conjunction with our condensed consolidated interim financial statements.

Cash costs, AISC per ounce sold, and free cash flow are Non-GAAP Measures with no standardized definition under U.S. GAAP.

Non-GAAP Measure - Cash Costs and AISC

Cash Costs and All-In Sustaining Costs (“AISC”) per payable ounce of gold and respective unit cost measures are non-U.S. GAAP metrics developed by the World Gold Council to provide transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The World Gold Council is a market development organization for the gold industry.

The Company uses cash costs per ounce of precious metals sold and AISC per ounce of precious metals to monitor its operating performance internally. The most directly comparable measure prepared in accordance with GAAP is cost of sales. The Company believes this measure provides investors and analysts with useful information about its underlying cash costs of operations and the impact of by-product credits on its cost structure. The Company also believes these are relevant metrics used to understand its operating profitability. When deriving the cost of sales associated with an ounce of precious metal, the Company includes by-product credits, which allows management and other stakeholders to assess the net costs of gold and silver production.

AISC includes total cost of sales incurred at the Company's mining operations, which forms the basis of cash costs. Additionally, the Company includes sustaining capital expenditures, sustaining mine-site exploration and evaluation costs, reclamation cost accretion and amortization, and general and administrative expenses. This measure seeks to reflect the ongoing cost of gold and silver production from current operations; therefore, growth capital is excluded. The Company determines sustaining capital to be capital expenditures that are necessary to maintain current production and execute the current mine plan. The Company determines growth capital to be those payments used to develop new operations or related to projects at existing operations where those projects will materially benefit the operation.

The Company believes that AISC provides additional information to management and stakeholders that provides visibility to better define the total costs associated with production and better understanding of the economics of the Company's operations and performance compared to other producers. In deriving the number of ounces of precious metal sold, the Company considers the physical ounces available for sale after the treatment and refining process, commonly referred to as payable metal, as this is what is sold to third parties.

The following tables provide a reconciliation of Cost of sales to cash costs and AISC used in the 2026 Marigold TRS:

(in thousands, unless otherwise noted)

2027 – 2031

2027 – 2040

2027 – 2045

Cost of sales (GAAP) (1)

$

2,293,943

$

5,513,569

$

5,752,463

Treatment and refining charges

$

1,253

$

3,351

$

4,315

Cash costs (non-GAAP)

$

2,295,195

$

5,516,920

$

5,756,778

Sustaining capital

$

332,622

$

569,533

$

572,033

Reclamation cost accretion and amortization

$

-

$

58,124

$

101,536

Total AISC (non-GAAP)

$

2,627,817

$

6,144,577

$

6,430,348

Gold sold (oz)

1,152,882

2,815,000

3,207,423

Cost of sales per gold ounces sold

$

1,990

$

1,959

$

1,793

Cash cost per gold ounce sold

$

1,991

$

1,960

$

1,795

AISC per gold ounce sold

$

2,279

$

2,183

$

2,005

Non-GAAP Measure - Free Cash Flow and Mine Site Free Cash Flow

The Company uses free cash flow and mine site free cash flow to supplement information in its condensed consolidated financial statements. The most directly comparable financial measure prepared in accordance with GAAP to free cash flow is cash provided by operating activities and the most directly comparable financial measure prepared in accordance with GAAP to mine site free cash flow is mine segment revenue. The Company believes that in addition to measures prepared in accordance with GAAP, certain investors and analysts use this information to evaluate the ability of the Company to generate cash flow after capital investments and build the Company's cash resources and, with respect to one of its mine segments, to evaluate the cash generated from a mine. The Company calculates free cash flow by deducting cash capital spending from cash generated by operating activities. The Company does not deduct payments made for business acquisitions. The Company calculates mine site free cash flow by deducting cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes from revenue from a particular segment.

The following table provides a reconciliation of cash provided by operating activities to free cash flow as shown in Table 1:

(in millions of U.S. dollars)

Consensus Gold Prices

Five-Year Profile

Active Mining

Total Mine Life (2)

Total Mine Life (2)

2027 – 2031

2027 – 2040

2027 – 2045

2027 – 2050

Operating cash flow after taxes (GAAP)

$

2,353

$

4,955

$

5,983

$

5,978

Total capital costs

$

(817)

$

(1,133)

$

(1,179)

$

(1,231)

Total free cash flow after taxes (non-GAAP)

$

1,536

$

3,822

$

4,804

$

4,747

Number of years

5

14

19

24

Average operating cash flow after taxes (GAAP)

$

471

$

354

$

315

$

249

Average total capital costs (including closure/reclamation costs)

$

(163)

$

(81)

$

(62)

$

(51)

Average free cash flow after taxes (non-GAAP)

$

307

$

273

$

253

$

198

The Company uses mine site free cash flow to supplement information in its condensed consolidated financial statements. The Company calculates mine site free cash flow as revenue less cost of sales, exploration, evaluation, and reclamation expenditures, cash care and maintenance, capital expenditures and taxes. We believe presenting asset level revenue minus large cash expenditures will be useful for investors because it represents a view of how much cash is actually generated and spent that is directly attributable to a specific site.

The following table provides a calculation of mine Site Free Cash Flow for Marigold, Seabee and CC&V since acquisition through June 30, 2026:

(in millions of U.S. dollars)

Since Acquisition

Marigold

Seabee

CC&V

Revenue (GAAP)

$

4,455

$

1,655

$

765

Cost of sales

$

(2,395)

$

(660)

$

(255)

Exploration & reclamation

$

(115)

$

(110)

$

(20)

Care & maintenance

$

—

$

(25)

$

—

Capital expenditure

$

(730)

$

(320)

$

(70)

Mine site free cash flow before taxes (non-GAAP)

$

1,215

$

540

$

420

Taxes (3)

$

(160)

$

(140)

$

(75)

Mine site after tax free cash flow (non-GAAP)

$

1,055

$

400

$

345

2026 Marigold TRS – Life of Mine Cash Flow Model (4,5)

Operating Summary

Total / Avg

May 2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2046

2047

2048

2049

2050

Total Ore Mined (kt)

297,731

11,891

20,903

20,812

22,849

14,178

20,240

27,442

24,325

24,047

23,541

25,589

20,301

16,367

18,182

7,064

—

—

—

—

—

—

—

—

—

—

Total Waste Mined (kt)

1,583,200

51,102

107,186

162,640

139,565

162,766

143,356

137,893

150,610

118,262

87,127

74,364

73,902

83,655

77,554

13,218

—

—

—

—

—

—

—

—

—

—

Total Material Mined (kt)

1,880,931

62,993

128,089

183,452

162,414

176,944

163,596

165,336

174,936

142,308

110,668

99,953

94,203

100,022

95,736

20,283

—

—

—

—

—

—

—

—

—

—

Stripping Ratio (W:O)

5.3

4.3

5.1

7.8

6.1

11.5

7.1

5.0

6.2

4.9

3.7

2.9

3.6

5.1

4.3

1.9

—

—

—

—

—

—

—

—

—

—

Total Ore Processed (kt)

297,731

11,891

20,903

20,812

22,849

14,178

20,240

27,442

24,325

24,047

23,541

25,589

20,301

16,367

18,182

7,064

—

—

—

—

—

—

—

—

—

—

Gold Grade, Stacked (g/t)

0.44

0.41

0.51

0.49

0.65

0.59

0.40

0.32

0.44

0.45

0.38

0.39

0.33

0.42

0.38

0.80

—

—

—

—

—

—

—

—

—

—

Average Recovery, Gold (%)

72%

75%

74%

72%

73%

71%

69%

68%

68%

72%

71%

73%

70%

76%

75%

76%

—

—

—

—

—

—

—

—

—

—

Payable Gold, Total (koz)

3,335

128

170

281

243

280

179

205

221

231

207

198

150

157

158

135

148

100

68

46

31

—

—

—

—

—

Financial Summary

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

Gold Gross Revenue ($M)

$13,166

$592

$817

$1,295

$1,059

$1,116

$665

$762

$821

$855

$768

$734

$556

$582

$587

$500

$550

$371

$251

$169

$114

—

—

—

—

—

Operating Costs ($M)

($6,029)

($277)

($400)

($528)

($492)

($464)

($411)

($416)

($429)

($445)

($405)

($385)

($337)

($351)

($313)

($139)

($82)

($57)

($42)

($33)

($25)

—

—

—

—

—

Refining and Freight Cost ($M)

($5)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

($0)

—

—

—

—

—

EBITDA ($M)

$7,132

$315

$417

$767

$567

$651

$254

$346

$393

$410

$363

$348

$219

$230

$274

$361

$468

$314

$208

$136

$89

—

—

—

—

—

Depreciation & Depletion ($M)

($3,171)

($105)

($186)

($307)

($283)

($286)

($187)

($235)

($242)

($225)

($180)

($157)

($124)

($124)

($122)

($105)

($168)

($56)

($38)

($25)

($17)

—

—

—

—

—

Earnings Before Taxes ($M)

$3,961

$210

$231

$460

$284

$366

$67

$112

$150

$185

$183

$192

$95

$107

$152

$255

$300

$258

$171

$111

$72

—

—

—

—

—

Federal & State Tax ($M)

($834)

($2)

($31)

($53)

($69)

($79)

($60)

($27)

($39)

($46)

($43)

($40)

($31)

($22)

($28)

($44)

($67)

($63)

($41)

($27)

($17)

($5)

—

—

—

—

Net Income ($M)

$3,127

$208

$200

$407

$215

$287

$7

$84

$112

$139

$140

$152

$64

$85

$124

$212

$233

$195

$129

$84

$55

($5)

—

—

—

—

AT Operating Cash Flow ($M)

$6,298

$320

$384

$708

$498

$568

$194

$317

$352

$363

$318

$307

$187

$209

$244

$304

$395

$283

$168

$110

$73

($5)

$1

($1)

($0)

$0

Total Capital ($M)

($1,385)

($133)

($343)

($270)

($74)

($67)

($62)

($40)

($51)

($45)

($20)

($24)

($19)

($48)

($33)

($36)

($9)

($17)

($11)

($6)

($3)

($11)

($25)

($13)

($2)

($2)

AT Free Cash Flow ($M)

$4,913

$187

$41

$438

$424

$501

$132

$277

$301

$318

$298

$283

$169

$161

$211

$268

$386

$266

$157

$104

$70

($16)

($24)

($13)

($2)

($2)

Non-GAAP Reconciliation

Cost of Sales ($M, GAAP)

$6,029

$277

$400

$528

$492

$464

$411

$416

$429

$445

$405

$385

$337

$351

$313

$139

$82

$57

$42

$33

$25

—

—

—

—

—

Treatment & Refining ($M)

$5

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

—

—

—

—

—

Cash Costs ($M, non-GAAP)

$6,034

$277

$400

$528

$492

$464

$411

$416

$429

$445

$405

$386

$338

$351

$313

$139

$82

$57

$42

$33

$25

—

—

—

—

—

Sustaining Capital ($M)

$669

$97

$80

$91

$43

$57

$62

$36

$34

$44

$19

$21

$17

$33

$18

$17

$1

$1

$1

$1

$1

—

—

—

—

—

Reclamation ($M)

$175

—

—

—

—

—

—

$1

$1

$1

$1

$3

$2

$15

$15

$20

$8

$17

$10

$6

$3

$11

$25

$13

$2

$2

AISC ($M, non-GAAP)

$6,877

$374

$480

$619

$535

$521

$473

$452

$464

$490

$425

$409

$356

$399

$346

$176

$91

$74

$53

$39

$28

$11

$25

$13

$2

$2

More News From SSR Mining Inc.

Silver Standard Resources NASDAQ: SSRM outlined a strategic shift toward a simpler, Americas-focused portfolio, emphasizing cash generation, shareholder returns and organic growth following the sale of its Türkiye operations.

During a discussion with Stifel Managing Director of Precious Metals, Metals, and Mining Ralph Profiti, Rod said the company sold its Türkiye business in the first quarter for $1.5 billion in cash and exchanged its interest in Hod Maden for a net smelter return royalty. The moves shifted approximately 90% of the company’s assets into the United States and Canada, compared with a roughly even split between those jurisdictions and Türkiye previously.

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Rod said the company remains the third-largest gold producer in the United States, supported by its Cripple Creek & Victor operation, acquired from Newmont, and its Marigold mine in Nevada. The portfolio also includes operations in Canada and Argentina.

Cash Flow, Buybacks and Dividend The company reported $300 million in free cash flow during the first half of the year, which Rod described as its seasonally weaker period. It also completed $400 million in share repurchases during that time and reinstated a quarterly dividend of $0.03 per share when it released second-quarter results in July.

Rod said the balance sheet held nearly $1.8 billion in cash and no debt, adding that the company expected to approach an 8% yield in capital returns to shareholders for the year. Since 2021, the company has returned nearly $1 billion in cash to shareholders through buybacks and dividends, he said.

The existing share repurchase program is expected to be completed by March of next year. Rod said management would reassess its capital-allocation approach at that point, including whether additional buybacks are appropriate after considering investment needs and organic growth opportunities.

Maintaining balance-sheet strength remains the company’s first capital-allocation priority. Organic growth investments are the next focus, followed by shareholder returns through dividends and buybacks. The company continues to evaluate external acquisition opportunities but said it does not feel pressured to complete a transaction. Disciplined M&A Approach Rod said the company remains acquisitive and reviews opportunities ranging from greenfield exploration projects to producing assets. However, it is prioritizing opportunities in the Americas that fit its strategy and can preserve its cash-generating profile.

“We are very methodical in the way that we allocate the capital,” Rod said, noting that many opportunities do not advance beyond initial desktop studies or due diligence. He added that the company is prepared to walk away when a potential transaction no longer offers an appropriate value proposition.

He cited the company’s small investment in Nevada exploration company Phenom Resources as an example of its interest in earlier-stage opportunities. Still, Rod said organic growth within the existing portfolio is the company’s principal near-term priority.

Operations and Costs Management reiterated its 2026 guidance, while acknowledging that production is weighted toward the fourth quarter. At Marigold, Rod said new carbon columns and a retention pond have been installed and commissioned to increase solution flow rates, which he described as an important factor in meeting the mine’s production plan.

At Seabee in Saskatchewan, the company has reached Level 41, where it expects to access a high-grade ore pocket, according to Rod. He said the company remains on track to meet guidance, though the fourth quarter will be significant for annual results.

Rod said all-in sustaining costs have been trending toward the higher end due to labor and consumable inflation. Higher gold prices have also increased royalty payments at certain operations, including Marigold, he said. Management is pursuing operational efficiency improvements to offset cost pressures where possible.

Longer Mine Lives at Marigold, Seabee and Puna The company expects to release an updated technical report for Marigold within four to six weeks. Rod said the report will incorporate approximately three years of drilling, reserve and resource conversion work, asset optimization efforts and plans to bring Buffalo Valley online. Targets including DG80 and New Millennium are being converted, he said.

While the near-term production profile is expected to remain broadly similar over the next five years, management plans to modernize Marigold by replacing and expanding its mining fleet. The objective is to open multiple ore faces rather than relying on a single mining face, which Rod said could reduce the operation’s recurring back-end-loaded production pattern.

At Seabee, the company is evaluating the depth and width potential at the Santoy mine and expects to make an investment decision on the Porky target within six to nine months. At Puna in Argentina, where the company added four years of mine life last year, management sees additional extension potential from pit laybacks and the Cortaderas target using the Pirquitas processing plant.

Rod also highlighted Cripple Creek & Victor as an asset that may be underappreciated by the market. He said the operation has nearly 7 million ounces of high-quality resources and extensive historical drilling and technical work. The focus now is on demonstrating how those resources could be converted into reserves over time.

About Silver Standard Resources (NASDAQ:SSRM)Silver Standard Resources Inc was a precious-metals mining company focused on the acquisition, development and operation of silver and gold properties. The company produced silver and gold concentrates and worked to advance exploration and development projects in the Americas and other mining jurisdictions.

In 2017, Silver Standard Resources merged with Claude Resources Inc and changed its name to SSR Mining Inc The combined company expanded its portfolio to include the Seabee gold operation in Saskatchewan, Canada, and the Marigold gold mine in Nevada, while continuing to develop and operate precious-metals assets in Latin America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Cripple Creek and Victor produced 66,023 ounces of gold in H1'26, up 19.3% y/y.SSR Mining expects 2026 mine production of 125,000-150,000 ounces, up 10% at the midpoint.The mine's AISC may reach the top of its 2026 guidance, while growth capital rises to $60M. SSR Mining Inc. (SSRM - Free Report) remains the third-largest U.S. gold producer, with its cornerstone Cripple Creek & Victor (CC&V) mine in Colorado alongside Nevada's Marigold mine.

SSR Mining acquired the CC&V mine in March 2025. CC&V accounted for 28% of the company’s revenues in 2025 and produced 124,557 ounces of gold. The mine produced 66,023 ounces of gold in the first half of 2026, up 19.3% year over year.

Located in Colorado, CC&V is a large-scale open-pit mine that has been active for more than three decades. Beyond expanding SSRM’s footprint in the United States, the transaction is expected to be accretive across all key per-share metrics, including NAV, gold production, mineral reserves and free cash flow, strengthening SSRM’s investment profile and strategic flexibility.

The asset also hosts 2.7 million ounces of gold Mineral Reserves plus 4.8 million ounces of Measured and Indicated resources as of 2025-end, supporting longer-term production options and future reserve conversion. Including Marigold, SSR Mining’s total Mineral Reserves in the United States are around 6 million ounces of gold.

The mine is facing higher costs, with AISC expected to trend toward the top of the company’s 2026 guidance of $1,780-$1,850 per ounce. The upside is due to modest increases in sustaining capital spend on equipment components and general site improvement initiatives.

Nonetheless, the company expects the mine’s production to be 125-150 thousand ounces for 2026, with 50-55% of remaining production expected in the fourth quarter. The guidance indicates a 10% year-over-year increase at the midpoint.

The company also increased its growth capital guidance for the mine to $60 million from the prior stated $55 million. SSR Mining is actively evaluating opportunities to improve CC&V’s long-term cost and production profile. Along with SSRM’s other key projects like Marigold, as well as Seabee and Puna, CC&V showcases significant potential upside.

Mine Performances by SSR Mining’s PeersAngloGold Ashanti plc’s (AU - Free Report) gold production dipped 4% year over year in the first half of 2026, reflecting the sale of the Serra Grande mine in December 2025.

Lower second-quarter production at AngloGold Ashanti’s Obuasi mine due to a contractor fatality in April 2026 and planned mine sequencing and maintenance across certain operations also led to the decline. However, AngloGold Ashanti expects second-half 2026 production to be higher than the first half.

Wheaton Precious Metals Corp.’s (WPM - Free Report) gold production in the second quarter was 90,434 ounces, down 2.6% year over year.

The company reaffirmed the 2026 attributable production guidance of 860,000-940,000 GEOs. Wheaton Precious Metals expects production to be weighted to the second half, helped by mine sequencing at Salobo and Peñasquito, the full Antamina contribution, and continued ramp-up of newer assets. Wheaton Precious Metals’ development pipeline also continues to advance.

Blackwater's Phase 1A expansion was 57% complete at the end of the quarter and remains scheduled for commissioning in the fourth quarter of 2026. Koné targets first gold in late fourth-quarter 2026, while Platreef expects commercial production in the fourth quarter. WPM forecasts a production of 1.2 million GEOs by 2030.

SSRM’s Price Performance, Valuations & EstimatesSSR Mining’s stock has appreciated 61.7% in a year compared with the industry’s growth of 35.3%. Meanwhile, the Zacks Basic Materials sector and the S&P 500 have gained 21.2% and 15.8%, respectively.

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SSRM is currently trading at a forward 12-month price-to-earnings multiple of 9.05X, a discount to the industry average of 15.89X.

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The Zacks Consensus Estimate for 2026 earnings is pegged at $3.87 per share, indicating a year-over-year surge of 92.5%. The estimate for 2027 of $3.90 per share suggests an increase of 1%.

Estimates for both 2026 and 2027 have moved south for the past 60 days.

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SSRM currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Gold mining is supposed to be a boring business. Dig rock out of the ground, sell it, repeat.

SSR Mining (SSRM -0.56%) turned that sleepy venture into one of the market's hottest trades in August, with shares surging 45.3%, according to data provided by S&P Global Market Intelligence.

Two things drove the gold stock higher.

Image source: Getty Images.

The massive Copler boost amid the gold rush Heading into August, investors were still haunted by the 2024 disaster at the Çöpler mine in Turkiye, an overhang that had completely stalled SSR Mining stock. That operational nightmare was already in the rearview mirror, though, with the company finally selling off the assets in June for $1.5 billion.

Yet, when SSR Mining dropped its second-quarter earnings report in August, investors saw the full, clean reality of the Copler sale on SSR Mining's financial health. That single move transformed its balance sheet overnight. SSR Mining was suddenly sitting on nearly $1.8 billion in pure cash with no debt.

Management immediately put that cash to work by repurchasing over $300 million of its own stock and reinstating a quarterly dividend. SSR had suspended dividends after the fatal Copler accident.

Gold prices broke out at the same time, after a stretch of weak economic data in August gave the Federal Reserve more reasons to hold off on raising interest rates. When interest rates stay low, gold remains attractive as it doesn't pay any interest itself, so there's not much to lose in terms of opportunity cost.

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A miner has high fixed costs, so when gold's price rises, almost all of the incremental revenue drops straight to profit. With SSR Mining also selling off Copler, the stock surged as investors bought into a rare turnaround in the gold industry.

This number suggests more upside for SSR Mining stock SSR Mining's August rally wasn't a typical gold-driven rally. The business is genuinely stronger than it was a year ago, debt-free, dividend-paying, and no longer carrying Turkey's operational risk.

The gold miner generated $299.1 million in free cash flow during the first six months of 2026, more than double its FCF in the year-ago period. Management remains confident that operational momentum will carry through a strong second half of 2026.

Despite the 45% August run, SSR Mining stock is trading at a forward price-to-earnings ratio of 9.5 versus a trailing P/E ratio of around 14.6. That gap tells you Wall Street expects earnings to jump sharply as higher gold prices and other factors flow through. The stock hit a 52-week high of $39.44 on Sept. 3.

Silver Standard Resources NASDAQ: SSRM, operating as SSR Mining, said its second-quarter results were in line with expectations as the company completed its exit from Türkiye, strengthened its cash position and outlined plans to increase investment in mine-life extensions across its Americas-focused portfolio.

Executive Chairman Rodney P. Antal said the company received approximately $1.5 billion in cash proceeds from the sale of the Çöpler mine before the end of the quarter. SSR Mining ended the period with nearly $1.8 billion of cash and no debt, even after repurchasing shares during the quarter. Çöpler and the Hod Maden project are now reported as discontinued operations.

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“We enter the second half with momentum,” Antal said, pointing to expected higher production and free-cash-flow generation in the latter part of 2026. The company said it expects to meet its full-year production guidance, though all-in sustaining costs are now expected to trend toward the upper end of guidance ranges.

Quarterly Financial Results and Capital Returns SSR Mining produced 102,000 gold-equivalent ounces during the second quarter at all-in sustaining costs of $2,622 per ounce. Revenue totaled $443 million on sales of 98,000 gold-equivalent ounces. The company reported net income and adjusted net income of $0.66 per diluted share.

Average realized prices were $4,301 per ounce of gold and $74.24 per ounce of silver. Chief Financial Officer Michael J. Sparks said the realized gold price was about 5% below the quarterly average because a larger portion of second-quarter ounces was sold in June, when gold prices were lower.

Free cash flow from continuing operations was $50 million in the quarter and nearly $300 million year to date, including working-capital changes. Free cash flow before working-capital changes was $123 million in the second quarter. The company also made more than $120 million in cash tax payments, which Sparks said reflected its normal annual tax-payment cycle.

SSR Mining returned $338 million to shareholders during the quarter through the repurchase of 10.4 million shares and announced the reinstatement of its quarterly dividend. The company has a $500 million share-repurchase program approved in mid-June. As of July 31, it had capacity to repurchase about 8.6 million additional shares under its current normal course issuer bid, which runs through March 2027.

The company also amended and extended its revolving credit facility, increasing it to $600 million from $400 million. The renewed facility has a four-year term and borrowing rates that are 25 basis points lower than under the prior agreement.

Costs, Capital Spending and Production Outlook Management attributed expected cost pressure to higher realized fuel prices, increased sustaining capital and accelerated growth investment. Sustaining capital spending is expected to remain elevated in the third quarter, while approximately 55% to 60% of second-half production is expected in the fourth quarter.

SSR Mining said its diesel hedges at Marigold and Cripple Creek & Victor, or CC&V, have reduced the impact of higher fuel prices, though the company remains exposed on unhedged purchases. Sparks said a $10-per-barrel increase in oil prices would add an estimated $10 per ounce to consolidated 2026 all-in sustaining costs under the current operating portfolio. Without the U.S. hedges, he said the impact could be about $20 to $30 per ounce for each $10 increase in oil prices.

In response to an analyst question, Sparks said sustaining capital expenditures are currently expected to be about $230 million to $235 million in 2026, compared with prior guidance of $202 million for continuing operations. The added spending includes fleet purchases at Marigold and other operational investments.

Operational Updates Marigold: Produced 31,000 ounces in the second quarter and 69,000 ounces in the first half. The mine remains on track for full-year guidance of 170,000 to 200,000 ounces, with roughly 65% of second-half output expected in the fourth quarter. Growth capital guidance increased to $65 million from $48 million as the company advances longer-term initiatives. SSR Mining expects to publish an updated technical report and life-of-mine plan by year-end, addressing opportunities at Buffalo Valley, DG80 and New Millennium. CC&V: Produced 28,000 ounces at all-in sustaining costs of $1,995 per ounce, bringing first-half production to 66,000 ounces. Full-year guidance remains 125,000 to 150,000 ounces. The company said permitting for Amendment 14 remains on track for final approvals before the end of 2027 and is separate from a Newmont-led legal matter involving the Carlton Tunnel discharge. Seabee: Produced nearly 17,000 ounces at all-in sustaining costs of $23.58 per ounce, with first-half production of 23,000 ounces. The operation is expected to reach the lower end of annual guidance, with the strongest production expected in the fourth quarter as grades increase. Growth capital guidance rose to $35 million from $15 million to advance the Porky West project. Puna: Produced 1.7 million ounces of silver at all-in sustaining costs of $29.52 per ounce. First-half output totaled 3.4 million ounces. Costs are expected near the upper end of guidance due to inflationary pressure in Argentina. The company is evaluating Chinchillas laybacks, the adjacent Molina target and the Cortaderas project. Growth Pipeline and Strategic Positioning Antal said the company is prioritizing organic growth while retaining a disciplined approach to potential acquisitions. SSR Mining is advancing opportunities at all four operating assets, with a focus on extending mine lives and smoothing production profiles rather than pursuing major near-term production increases.

The company is also progressing internal economic studies at the Amisk project in Saskatchewan and conducting early-stage field programs at Nevada exploration targets. During the second quarter, SSR Mining finalized a strategic investment in Phenom Resources, which holds the Dobbin project in Nevada. SSR Mining owns 9.9% of Phenom and has an option to earn a minority interest in Dobbin through $4 million of exploration spending. First drilling on the property began early in the third quarter.

Antal said the company does not view the expanded revolving credit facility as a signal of an imminent transaction, characterizing it as a normal refinancing that improved terms and increased flexibility. He said SSR Mining intends to maintain balance-sheet strength, fund internal growth, consider disciplined merger-and-acquisition opportunities and continue dividends and share repurchases.

About Silver Standard Resources (NASDAQ:SSRM)Silver Standard Resources Inc NASDAQ: SSRM is a Vancouver‐based precious metals company engaged in the acquisition, exploration, development and production of silver and gold deposits primarily across the Americas. The company’s strategy centers on advancing high‐quality projects into production while maintaining a portfolio of operating mines that deliver consistent metal output. Silver Standard emphasizes sustainable resource development and community partnership at each stage of its operations.

The company’s principal producing assets include the Marigold gold mine in Nevada, which entered commercial production in 2006; the Seabee gold operation in Saskatchewan, Canada, acquired in 2016; and the Pirquitas silver‐gold mine in Argentina, which began producing in 2009.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Shares of SSR Mining (SSRM 4.75%) are building on a massive pop that started last week. The gold stock jumped 5.4% higher as of 1:45 p.m. ET Wednesday, and is up 36% in just one week, as of this writing.

The miner is about to get a windfall from an asset sale, and it has announced something that should make its shareholders happy. Gold, meanwhile, is trending higher.

Image source: Getty Images.

Why are investors buying SSR Mining stock? SSR Mining has made the most of the surge in gold prices. It recently delivered a blowout first quarter, ending it with $600 million in cash, low debt, and $211 million in free cash flow.

After already burning through $300 million to buy back its own stock, the company just announced it's dropping another $500 million on stock buybacks.

That's not all: The gold miner is also reinstating its dividend.

I fully expected SSR Mining to resume share buybacks and dividends. It suspended dividends after a fatal accident at its Copler mine in Turkey in 2024, but now has a firm deal to sell that unproductive mine for $1.5 billion before the end of the third quarter. A good portion of that money is going to go back to shareholders.

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SSR Mining stock could fall if this happens, but should you worry? Although $0.03 per share every quarter is a modest payout, the symbolism is huge. A dividend reinstatement and accelerated share buybacks reveal how confident management is about the company's prospects.

And why not? SSR Mining has rarely looked this strong financially. Dumping Copler removes a major overhang, leaving it a much leaner company.

Meanwhile, macro tailwinds are doing their part. Gold has picked up momentum after a precipitous fall. The yellow metal bounced back over $4,300 per ounce today after dropping to a six-month low and almost hitting $4,000 per ounce on June 10. Investors expect a U.S.-Iran peace agreement to help restore oil flows and cool off inflation and interest rate concerns.

Investors, however, should remember that the peace agreement hasn't been finalized. If it falls through, gold could easily slide back.

That, however, shouldn't hurt SSR Mining much unless gold absolutely craters. SSR Mining is in a fantastic spot, using its cash pile to reward shareholders – and that is exactly what investors should focus on.