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ARIS MINING TO ACQUIRE REMAINING 49% OF SOTO NORTE, SECURING 100% OWNERSHIP AND ADVANCING A CLEAR PATH TO 1 Moz/year

ARMN
  • Aris Mining Corporation entered a binding term sheet to acquire the remaining 49% interest in the Soto Norte joint venture in Colombia from Mubadala for a total consideration of US$80 million.
  • The transaction value consists of US$60 million in cash & 1,739,130 newly issued Aris Mining common shares priced at a deemed US$11.50 per share, subject to a four-month-plus-one-day hold period.
  • The deal includes the termination of the precious metals stream previously granted to Mubadala at closing & is expected to close by early December 2025.
  • Post-transaction, Aris Mining will hold 100% ownership of Soto Norte, joining its fully owned assets of Segovia, Marmato, & Toroparu to support a strategy focused on building a 1-million-ounce-per-year gold producer.
  • The acquisition increases total proven & probable mineral reserves by 32.8% to 9.1 Moz & measured & indicated resources by 18.8% to 21.7 Moz on a consolidated basis.
  • Soto Norte is confirmed as a high-grade underground project with a 22+ year mine life, designed mill capacity of 3,500 tpd, & no cyanide or mercury use in its processing flowsheet.
  • The project features an after-tax NPV of $2.7 billion at a $2,600/oz gold price, an IRR of 35.4%, & low life-of-mine all-in-sustaining costs of $534/oz.
  • Environmental studies for Soto Norte are being finalized for licensing submissions planned for the first half of 2026, while the Toroparu project in Guyana is expected to be construction-ready following its upcoming PFS.
  • Aris Mining targets an annual production rate of over 500,000 ounces of gold driven by expansions at Segovia & the Marmato Complex, with first gold from Marmato's Bulk Mining Zone expected in H2 2026.
  • The company recently secured a settlement agreement with the Government of Colombia to facilitate the advancement of major projects within the country.