Segovia Operations Plant Expansion To Increase Production Rate

VANCOUVER - Aris Mining Corporation reported updated mineral reserve estimates for its Segovia Operations in Colombia. Aris Mining is also increasing the capacity of the Maria Dama processing plant within the Segovia Operations from 2,000 to 3,000 tonnes per day (tpd).

Neil Woodyer, CEO, said, "We are pleased to announce a 75% increase to the high-grade mineral reserves at the Segovia Operations to 1.3 million ounces of gold at 11.63 grams per tonne. Based on our current operating profile, the updated estimate extends the reserve-only mine life to nearly seven years. Like other operations with extensive vein systems within a large mining title, we expect to continue to extend mine life through ongoing exploration programs.

Based on the increased mineral resource and reserve estimates, we are implementing a small-scope project to increase the processing capacity by 50% to 3,000 tpd at the Maria Dama plant by utilizing a previously purchased ball mill that is already on-site. This creates the potential to gradually increase annual gold production from 200,000 to 300,000 ounces, as we fill the extra capacity by increasing our mining rates. A portion of this extra capacity will be allocated to our artisanal and small-scale mining partners, offering processing solutions to them, while mitigating the environmental impacts of informal mining in Segovia."

The capacity of the Maria Dama processing plant is currently 2,000 tpd following an expansion project from 1,500 tpd completed in 2022. The plant includes crushing, grinding, gravity concentration, gold flotation and regrind, cyanidation, Merrill-Crowe precipitation, and smelting of the precipitate and gravity concentrate to produce gold-silver doré.

The current project to expand to 3,000 tpd includes a previously purchased ball mill which is already onsite and the re-location and upgrade of the facilities that receive material from our artisanal and small-scale mining partners. The construction timeline forecasting completion by early 2025. The addition of the ball mill to the existing circuit enables both higher throughput and more effective use of the current facilities, thereby enhancing the overall gold recovery rate for all processed materials. The new receiving facility for partner mined material is designed to increase volumes and efficiency.