HIGHLIGHTS
- ATTRIBUTABLE & ADJUSTED ATTRIBUTABLE Q1 DILUTED EPS OF $0.31 AND $0.30 PER SHARE, RESPECTIVELY
- ROBUST QUARTERLY PRODUCTION OF APPROXIMATELY 174,000 OUNCES AT AISC * OF $1,093 PER OUNCE
- Ç?PLER QUARTERLY SULFIDE THROUGHPUT RECORD, FLOTATION PLANT RAMP UP CONTINUED
- SEABEE ACHIEVED QUARTERLY PRODUCTION RECORD OF APPROXIMATELY 53,000 OUNCES
- ÇAKMAKTEPE EXTENSION (“ARDICH”) ADVANCING TOWARDS 2023 FIRST PRODUCTION
- INTERNAL APPROVALS TO ADVANCE ~60% IRR C2 PROJECT TO PFS
- CLOSED THE ACQUISITION OF TAIGA GOLD, EXPANDING LAND POSITION IN SASKATCHEWAN TO APPROXIMATELY
131,000 HECTARES
- INCREASED Q1 DIVIDEND BY 40%
- PUBLISHED FOURTH ANNUAL ESG AND SUSTAINABILITY REPORT
DENVER - SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) ("SSR Mining" or the “Company") reports consolidated
financial results for the first quarter ended March 31, 2022. In addition, the Board of Directors declared a quarterly cash
dividend of $0.07 per common share payable on June 9, 2022 to holders of record at the close of business on May 13,
2022. This dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
Rod Antal, President and CEO said, "The first quarter of 2022 continued SSR Mining’s proud track record of operational
outperformance, as we delivered gold equivalent production of 173,675 ounces at AISC of $1,093/oz, positioning the
Company well against full year guidance. In particular, we reported record quarterly production of 52,582 ounces at Seabee
as we accessed a continuation of a high-grade zone outside of the Mineral Reserve that was first mined in the second
quarter of 2021. Similarly at Çöpler, the ramp up of the flotation circuit is well underway, allowing us to process a record
number of tonnes through the sulfide plant in the quarter. Across the remainder of the portfolio, we continue to expect
stronger production in the quarters ahead, in line with our previously announced guidance of 700,000 to 780,000 gold
equivalent ounces at AISC of $1,120 to $1,180 per gold equivalent ounce.
From a financial perspective, we increased our quarterly dividend payment by 40% to $0.07 per share within the first quarter.
We continue to expect free cash flow to be weighted to the second half of 2022, and we will work to ensure that our capital
returns initiatives appropriately reflect our robust free cash flow generation. Finally, our high-return growth initiatives continue
to advance on schedule with Çakmaktepe Extension and C2 targeting first production in 2023 and 2025, respectively. We
expect to release a number of exploration updates across our asset base through the second half of the year and will look
to incorporate those results into updated technical reports in 2023 that build on the strong base-line established earlier this
year.”

* AISC is a non-GAAP metric which is customary in the mining industry, but for which there is no standardized definition or comparable financial measure
under U.S. GAAP. As a result, we have not identified a comparable financial measure calculated under U.S. GAAP. See "Cautionary Note Regarding NonGAAP Financial Measures".

First Quarter 2022 Highlights:
(All figures are in U.S. dollars unless otherwise noted)
- Robust quarterly operating performance: Delivered first quarter production of 173,675 gold equivalent ounces at
AISC of $1,093/oz. (1) Previously announced full year guidance of 700,000 – 780,000 gold equivalent ounces at AISC
of $1,120 to $1,180 per gold equivalent ounce is unchanged and remains weighted to the second half of the year.
? Continued delivery of cash flow: Generated cash flows from operating activities of $62.2 million and free cash flow
of $27.7 million in the first quarter. (1) As previously guided, free cash flow was impacted by increased tax and royalty
payments, as well as increased working capital outlays, in the first quarter and remains significantly second half
weighted. Attributable net income in the first quarter was $67.6 million, or $0.31 per diluted share, and adjusted
attributable net income was $65.9 million, or $0.30 per diluted share. (1)
? Dividend increased as part of capital returns commitment: During the first quarter, the Board declared a quarterly
cash dividend of $0.07 per share, a 40% increase over the prior quarter, which was paid on April 4, 2022. The Normal
Course Issuer Bid (“NCIB”), first announced on April 19, 2021, remained active during the quarter.
- Balance sheet continues to support growth initiatives: At the end of the first quarter, the Company had a cash and
cash equivalents balance of $999.0 million, after $17.8 million in scheduled debt repayments and $30.8 million in
dividends to joint venture partners. Non-GAAP net cash totals $680.6 million as of March 31, 2022. (1)
- Three-year guidance showcased stable production profile above 700,000 gold equivalent ounces: In the first
quarter, SSR Mining announced its inaugural three-year production guidance highlighting annual production in excess
of 700,000 gold equivalent ounces in 2022, 2023 and 2024 without requirements for material capital investment. In
addition, updated technical report summaries for all four producing assets established a platform that we expect will be
capable of maintaining 700,000 gold equivalent ounces of production for at least the remainder of the decade.
- Increased gold Mineral Reserves by 14% to 9.2 million ounces: Mineral Reserve conversion at Ardich and Seabee’s
Gap Hangingwall drove a 1.1 million ounce, or 14%, increase to total gold Mineral Reserves, net of depletion.
- Çöpler flotation circuit ramp-up well underway, Çakmaktepe Extension development progressing: Delivered
gold production of 70,641 ounces in the first quarter at AISC of $955 per ounce. The sulfide plant treated a record of
approximately 645,000 tonnes in the quarter. The Company continues to progress Çakmaktepe Extension towards first
gold production in 2023. In the first quarter of 2022, the Company released an updated Çöpler District Master Plan
(“CDMP21”) that showcased life of mine production of more than 1.2 million ounces of gold from Çakmaktepe Extension
for $69 million in initial capital, and an Initial Assessment Case (“IAC”) for the C2 project that featured more than 1.0
million ounces of gold production for $218 million in initial capital and an IRR of approximately 60%.
- Marigold on track for full year production guidance: Delivered gold production of 33,788 ounces for the first quarter
as the timing and grade of material stacked deferred some ounces into the second quarter. Full-year production remains
second-half weighted as higher-grade ore is accessed later in the year.
- Seabee delivers record quarterly production: Produced 52,582 ounces of gold at AISC of $596 per ounce as
processed grades of 17.8 g/t were well above plan. Mining accessed a continuation of a very high grade zone outside
of the Mineral Reserve that was first mined in the second quarter of 2021. Exploration is underway in an attempt to
further define extension of this high-grade zone, though grades are scheduled to return closer to plan of 9.2 g/t for the
remainder of 2022. Operational excellence initiatives also improved underlying mine performance in the first quarter,
including a quarterly record of nearly 103,000 tonnes mined (approximately 1,150 tonnes per day).
SSR Mining Inc. PAGE 3
- Puna continues strong cost performance: Produced 1.3 million ounces of silver at cash costs of $13.06 per ounce
in the first quarter and AISC of $14.67 per ounce. The mine remains on track to achieve its full-year guidance.
- 2021 ESG and Sustainability Report: On April 14, 2022, the Company published its fourth annual ESG and
Sustainability Report. The report outlines SSR Mining’s approach to sustainability across a range of areas, including
Health & Safety, environment, communities and diversity, as well as summarizes our 2021 ESG performance.
- Announced the sale of the Pitarrilla project: On January 13, 2022, the Company announced it had entered into a
definitive agreement to sell its Pitarrilla silver project in Durango, Mexico to Endeavour Silver Corp. (“EXK”) for total
consideration of up to $127 million. This consideration includes $35 million in cash, $35 million in EXK shares, and a
1.25% Net Smelter Return (“NSR”) royalty on the Pitarrilla property. (2) The transaction, which is subject to TSX and
NYSE regulatory approvals, the approval of the Mexican Federal Economic Competition Commission and customary
closing conditions, is expected to close in the second quarter of 2022.
- Closed the acquisition of Taiga Gold Corp.: Subsequent to the quarter’s end, on April 14, 2022, SSR Mining
completed the previously announced plan of arrangement (the “Arrangement”) to acquire all of the issued and
outstanding shares of Taiga Gold Corp. (CSE: TGC) (“Taiga Gold”). The transaction consolidated a 100% interest in the
Fisher property contiguous to the Seabee mine, eliminated a 2.5% NSR royalty on the Fisher property, and added five
new properties covering over 29,100 hectares to complement the Company’s existing exploration platform in the
underexplored and geologically prospective Province of Saskatchewan. SSR Mining’s Saskatchewan assets now cover
an area of approximately 131,150 hectares.
(1) The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted basic attributable net income per share,
free cash flow, net cash, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. See "Cautionary Note
Regarding Non-GAAP Financial Measures" for an explanation of these financial measures and a reconciliation of these financial measures to net
income and production costs, which are the comparable GAAP financial measures.
(2) The estimated value of the net smelter return royalty is based on the present value of net smelter returns of the Pitarrilla property from the “NI 43-101
Technical Report on the Pitarrilla Project, Durango State, Mexico”, dated December 14, 2012, which is available on Company’s website at
www.ssrmining.com, discounted at a rate of 5%. The estimated value assumes a silver price of US$25/oz, a lead price of US$0.90/lb, and a zinc
price of US$0.95/lb. The assumptions underlying the estimated value of the Pitarrilla project NSR royalty, including those supporting the Technical
Report on the Pitarrilla Project and future metal prices, represent estimates and actual royalties received by SSR Mining in connection with the
Transaction may differ from projected amounts.

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