SSR Mining Reports First Quarter 2018 Results

VANCOUVER, May 10, 2018

Paul Benson, President and CEO said, "We produced over 78,000 gold equivalent ounces with all three operations performing well during the quarter. Seabee had a standout quarter, with the lowest cash costs since we acquired the operation in 2016 and record mill throughput of more than 1,030 tonnes per day. With development at Chinchillas remaining on track for delivery in the second half of the year, and production at Seabee and Marigold ramping up through the year, our operating and financial performance positions us well for growth in 2018 and 2019."

First Quarter 2018 Highlights:
(All figures are in U.S. dollars unless otherwise noted)

• Solid financial performance: Produced 78,483 gold equivalent ounces at cash costs of $766 per payable ounce, generating operating cash flow of $11.0 million and adjusted attributable net income of $5.7 million or $0.05 per share.
   
  
• Record quarterly throughput at the Seabee Gold Operation: Continued to successfully ramp up mill throughput, operating at an average of 1,036 tonnes per day during the quarter.
   
  
• Low-cost production at the Seabee Gold Operation: Produced 23,717 ounces of gold at cash costs of $481 per payable ounce of gold sold, a record low cash cost since acquiring the operation in 2016.
  
  
• Production in line with guidance at the Marigold mine: Produced 42,960 ounces of gold at cash costs of $720 per payable ounce of gold sold, and a near-record 7.1 million tonnes of ore stacked.
  
  
• Solid quarterly performance at Puna Operations: Produced 0.9 million ounces of silver at cash costs of $17.07 per payable ounce of silver sold, as lower grade stockpiles are processed.
  
  
• Chinchillas project remains on track: Capital expenditures totaled $12 million as the project remains on track for ore delivery in the second half of 2018.
  
  
• Increased cash position: Quarter-end cash increased to $472.9 million, up $13.0 million from the previous quarter.

Marigold mine, U.S.