Aris Mining Announces Results of Prefeasibility Studies

Aris Mining Corporation (TSX: ARIS; NYSE-A: ARMN) has announced the completion of a pre-feasibility study (PFS) for its 51%-owned Soto Norte Gold Project in Santander, Colombia. The study outlines a smaller-scale development plan than previously considered, reducing processing capacity to 3,500 tons per day (tpd) from the initial 7,000+ tpd.

Neil Woodyer, CEO of Aris Mining, commented on the new plan: “The Soto Norte PFS outlines a project that balances scale, profitability, environmental stewardship, and community input. Our plan dedicates 750 tpd—more than 20% of total capacity—for material mined by local community groups, replacing informal mills that pollute waterways with safe, licensed processing. All mine water will be collected, treated, and safely returned, safeguarding the Bucaramanga and regional water supplies and improving water quality in the local community mining areas. The PFS results highlight Soto Norte’s ability to deliver significant long-term value for shareholders and our community and government partners, while adhering to the highest standards of safety, water protection, and environmental management. With the PFS complete, we are completing environmental studies and preparing to apply for an environmental license in early 2026. Soto Norte stands out as one of the most attractive gold projects in the Americas.”

The PFS, based on a gold price of $2,600 per ounce, presents a project with a 22-year initial mine life and a processing capacity of 3,500 tpd. The study excludes any economic contribution from the 750 tpd dedicated to local community miners.

Financial Metrics: The after-tax net present value (NPV) at a 5% discount rate is estimated at $2.7 billion, with an internal rate of return (IRR) of 35.4%. The payback period from the start of operations is projected to be 2.3 years.

Costs: Initial capital is estimated at $625 million, including pre-production costs, VAT, and contingency. The projected life-of-mine cash costs are $345 per ounce of gold, with all-in-sustaining costs (AISC) of $534 per ounce.

Production: The study estimates average annual gold production of 263,000 ounces (koz) during the first ten years, with a total of 4.3 million ounces (Moz) of gold produced in concentrates over the mine’s life. It also includes significant by-product credits from silver and copper.

Resources and Reserves: The project’s proven and probable mineral reserves are 20.3 million tons at a grade of 7.00 g/t gold, containing 4.6 Moz gold. Measured and indicated mineral resources stand at 39.0 million tonnes at 5.55 g/t gold, containing 7.0 Moz gold.

The project’s design focuses on environmental and social sustainability, particularly in the municipalities of California, Suratá, and Matanza in Santander, a department of Colombia. Key features include:

• Community Processing: A portion of the plant’s capacity will be reserved to process material from local miners, providing a regulated alternative that avoids the use of mercury.
• Water Management: The plan is designed to protect local watercourses by managing clean and contact water separately. A recycling system allows for 96.5% water reuse, and the facility will not use cyanide or mercury.
• Local Employment: Peak construction is expected to create approximately 2,300 jobs, with long-term operations sustaining about 675 direct employees.
• Infrastructure: A rope conveyor will transport ore to the plant, reducing truck traffic and environmental footprint.

A complete Technical Report compliant with National Instrument 43-101 has been filed on SEDAR+ and with the US Securities and Exchange Commission (SEC) on EDGAR.

Above photo: Commissioning of the second ball mill at Segovia. Photo credit: Aris Mining/X.