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 NPV5% is $1.5bn and IRR is 20.8%, at base case gold price of $1,675 per ounce

    • Project NPV5% 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.
1 Based on a US$/C$ exchange rate of 1.2621 USD:CAD as published on the Bank of Canada website as of April 11, 2022.
2 NI 43-101 Technical Report Feasibility Study of the Soto Norte Gold Project, Santander, Colombia with an effective date of 1 January 2021 prepared by SRK Consulting (UK) Limited, SNC Lavalin, and Minesa (the Feasibility Study). The Technical Report is available on SEDAR under Aris Gold’s profile and on Aris Gold’s website at