Aris Gold Completes Soto Norte JV Investment

(Aris Gold, 12.Apr.2022) — Aris Gold Corporation (TSX: ARIS) (OTCQX: ALLXF) announces that, further to the company’s news release of 21 March 2022, it has closed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest. Aris Gold has also upsized the existing precious metals stream at the 100%-owned Marmato Mine by $65mn and arranged a $35mn debenture (the Debenture) that is convertible into common shares of Aris Gold at a conversion price of US$1.75 (approximately C$2.21¹).

Aris Gold CEO Neil Woodyer stated: “Soto Norte is a large-scale gold project that is well-aligned with our core strengths as mine operators in Colombia. The construction of Soto Norte is expected to follow the expansion of our 100%-owned Marmato gold mine in Colombia. We look forward to engaging with the Soto Norte communities and developing a mine that implements sustainable mining practices to ensure protection of the environment and the local ecosystem.”

Soto Norte Highlights

• Soto Norte hosts Indicated mineral resources of 8.5 million ounces (Moz) of gold and Inferred mineral resources of 3.6 Moz of gold
  
  
  • Indicated mineral resources of 48.1 million tonnes (Mt) at 5.47 grams per tonne (g/t) of gold, 35.8 g/t of silver, and 0.18% copper containing 8.5 Moz of gold, 55.3 Moz of silver, and 193 million pounds (Mlb) of copper, inclusive of mineral reserves
    
    
  • Inferred mineral resources of 27.3 Mt at 4.06 g/t of gold, 25.9 g/t of silver, and 0.18% copper containing 3.6 Moz of gold, 22.8 Moz of silver, and 107 Mlb of copper
    
    
• Soto Norte Feasibility Study² demonstrates production of over 450,000 gold ounces per year at average AISC of $471/oz from 5.0 Moz Mineral Reserve
  
  
  • 14-year mine life, based on Probable mineral reserves of 24.8 Mt at 6.22 g/t of gold, 34.4 g/t of silver, and 0.19% copper, containing 5.0 Moz of gold, 27.4 Moz of silver, and 103 Mlb of copper
    
    
  • Project NPV_5% is $1.5bn and IRR is 20.8%, at base case gold price of $1,675 per ounce
    
    
  • Project NPV_5% is $2.0bn and IRR is 24.4%, at gold price of $1,925 per ounce
    
    
• Aris Gold will provide a new and informed approach to environmental permitting: Following detailed technical feedback from the Colombian environmental regulatory authority (ANLA) in 2021, drafting of a new Environment and Social Impact Assessment (ESIA) commenced and will include a robust Quality Assurance and Quality Control process for regulatory compliance. As operator, Aris Gold’s team will contribute its knowledge and experience as well as provide a respectful licensing process with its local stakeholders.
  
  
• Social development opportunities: Soto Norte will be a significant project for the local and regional communities, providing employment and skills training for up to 1,800 construction contractors and up to 940 full time operations personnel, and a strategy to procure goods and services from the regional community.

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