SSR Mining Announces the Sale of Its Sunrise Lake Exploration Property
18 October 2023 - 8:14AM
Business Wire
SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) (“SSR Mining” or
the “Company”) announced today that it has entered into a
definitive agreement to sell its Sunrise Lake Property (“Sunrise
Lake” or the “Property”) to Honey Badger Silver Inc. (TSXV:TUF)
(“Honey Badger”) in exchange for a 4.0% net smelter return (“NSR”)
royalty on the Property. Under the terms of the agreement, at any
time until commencement of construction activities, 2.0% of the NSR
royalty can be repurchased by Honey Badger for total consideration
of US$10 million.
Sunrise Lake is an early-stage, greenfield exploration property
located in the Northwest Territories, 130 kilometers northeast of
Yellowknife. The Property hosts silver-gold and base metal
mineralization outlined by 21,774 meters of historical surface
diamond drilling completed between discovery in 1987 and 1998.
Exploration activities completed on the Property to-date have
focused on silver-lead-zinc volcanogenic massive sulfide
mineralization.
Honey Badger is a Canadian silver company based in Toronto,
Ontario, with significant land holdings in southeast and
south-central Yukon. The Company also owns the past producing
Nanisivik Mine in Nunavut.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused gold
company with four producing operations located in the USA, Türkiye,
Canada, and Argentina, combined with a global pipeline of
high-quality development and exploration assets. Over the last
three years, the four operating assets combined have produced on
average more than 700,000 gold-equivalent ounces annually. SSR
Mining is listed under the ticker symbol SSRM on the NASDAQ and the
TSX, and SSR on the ASX.
Cautionary Note Regarding Forward-Looking Information
Except for statements of historical fact relating to us, certain
statements contained in this news release constitute
forward-looking information, future oriented financial information,
or financial outlooks (collectively “forward-looking information”)
within the meaning of applicable securities laws. Forward-looking
information may be contained in this document and our other public
filings. Forward-looking information relates to statements
concerning our outlook and anticipated events or results and, in
some cases, can be identified by terminology such as “may”, “will”,
“could”, “should”, “expect”, “plan”, “anticipate”, “believe”,
“intend”, “estimate”, “projects”, “predict”, “potential”,
“continue” or other similar expressions concerning matters that are
not historical facts.
Forward-looking information and statements in this news release
are based on certain key expectations and assumptions made by us.
Although we believe that the expectations and assumptions on which
such forward-looking information and statements are based are
reasonable, undue reliance should not be placed on the
forward-looking information and statements because we can give no
assurance that they will prove to be correct. Forward-looking
information and statements are subject to various risks and
uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations
expressed in this news release.
Forward-looking information and statements in this news release
include any statements concerning, among other things: forecasts
and outlook relating to development of the Sunrise Lake property,
including timing of compensation relating to the NSR royalty;
potential timing of repurchase of part of the NSR royalty; and any
and all other timing, exploration, development, operational,
financial, budgetary, economic, legal, social, environmental,
regulatory, and political matters that may influence or be
influenced by future events or conditions.
The above list is not exhaustive of the factors that may affect
any of the Company’s forward-looking information. You should not
place undue reliance on forward-looking information and statements.
Forward-looking information and statements are only predictions
based on our current expectations and our projections about future
events. Actual results may vary from such forward-looking
information for a variety of reasons including, but not limited to,
risks and uncertainties disclosed in our filings on our website at
www.ssrmining.com, on SEDAR at www.sedarplus.ca, on EDGAR at
www.sec.gov and on the ASX at www.asx.com.au and other unforeseen
events or circumstances. Other than as required by law, we do not
intend, and undertake no obligation to update any forward-looking
information to reflect, among other things, new information or
future events. The information contained on, or that may be
accessed through, our website is not incorporated by reference
into, and is not a part of, this document.
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version on businesswire.com: https://www.businesswire.com/news/home/20231016505049/en/
SSR Mining: F. Edward Farid,
Executive Vice President, Chief Corporate Development Officer Alex
Hunchak, Director, Corporate Development and Investor Relations SSR
Mining Inc. E-Mail: invest@ssrmining.com Phone: +1 (888) 338-0046
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