Mr. F. Edward Farid reports

SSR MINING REPORTS SECOND QUARTER 2023 RESULTS

SSR Mining Inc. has released consolidated financial results for the second quarter ended June 30, 2023. In addition, the Board of Directors declared a quarterly cash dividend of $0.07 per common share payable on September 11, 2023 to holders of record at the close of business on August 14, 2023. This dividend qualifies as an 'eligible dividend' for Canadian tax purposes.

Rod Antal, Executive Chairman of SSR Mining, said, "As we close the first half of 2023, our consolidated operating and financial results have generally been well aligned to our initial expectations with output from Copler, Marigold and Puna partially offsetting the slower start to the year at Seabee. In the second half of the year, we expect all four of our operations to deliver improved consolidated production of approximately four hundred thousand gold equivalent ounces at reduced costs, resulting in strong free cash flow generation. While we are tracking to the lower end of our consolidated production guidance as a result of Seabee's year-to-date performance, it is pleasing to see the mine positioned for an improved second half, particularly as production levels and grades improved in July.

Given our expectations for a strong second half of 2023, we have been very active with our capital returns program, repurchasing over $45 million of our shares in the first half of the year. Combined with our base dividend, we are on track to exceed $100 million in capital returns in 2023, or a 3.4% yield.

From a growth perspective, we continue to advance technical work to support anticipated updated life of mine plans at Copler and Marigold. In addition, we initiated waste stripping activities at Cakmaktepe Extension and remain on track for first gold production from the project within the year. Finally, at Hod Maden, initial site preparation activities are currently underway and we continue to expect an updated technical report and construction decision for the project in 2024. Overall, SSR Mining remains in a position of strength, supported by a significant cash position, key growth catalysts and the tailwind of improving production and free cash flow into the end of 2023."

Second Quarter 2023 Highlights: (1)

(All figures are in U.S. dollars unless otherwise noted)

• Operating performance tracking well against full-year guidance: The Company delivered second quarter 2023 production of 156,625 gold equivalent ounces at cost of sales of $1,155 per gold equivalent ounce and all-in sustaining costs ("AISC") of $1,633 per gold equivalent ounce. Year-to-date production is 303,518 gold equivalent ounces at cost of sales of $1,224 per gold equivalent ounce and AISC of $1,663 per gold equivalent ounce. In the second half of 2023, the Company expects production to be evenly distributed over the balance of the year. The Company's consolidated 2023 production guidance of 700 to 780 thousand gold equivalent ounces at cost of sales of $1,055 to $1,115 per gold equivalent ounce and AISC of $1,365 to $1,425 per gold equivalent ounce remains unchanged.
• Strong financial results: Attributable net income in the second quarter of 2023 was $74.9 million, or $0.35 per diluted share, and adjusted attributable net income was $75.1 million, or $0.35 per diluted share. An approximately $25.1 million gain was included in the second quarter 2023 attributable and adjusted attributable net income, representing the net impact of foreign exchange losses and the deferred tax benefit resulting from currency devaluation, namely the Turkish Lira. For the six months ended June 30, 2023, attributable net income was $104.7 million, or $0.49 per diluted share, and adjusted attributable net income was $96.4 million, or $0.45 per diluted share. In the second quarter of 2023, operating cash flow was $80.3 million, or $104.3 million before working capital adjustments, and free cash flow was $22.4 million, or $46.3 million before working capital adjustments. Free cash flow remains strongly weighted to the second half of 2023, in line with previously stated guidance, and is expected to be relatively evenly split between the third and fourth quarters.
• Continued delivery of peer-leading capital returns: During the second quarter of 2023, the Board declared a quarterly cash dividend of $0.07 per share and the Company repurchased a total of 2,678,822 of its outstanding common shares at an average share price of $14.97 per share. Combined, the Company returned $54.5 million to shareholders during the second quarter of 2023 including the $14.3 million in quarterly dividend payments and $40.1 million in share repurchases. The Company is on track to return a minimum of $102.6 million in capital returns in 2023, or a 3.4% yield, which includes a total of 3,026,993 shares repurchased in the first half of 2023 for $45.3 million. On June 16, 2023, the Company announced a new Normal Course Issuer Bid ("NCIB") enabling SSR Mining to purchase for cancellation up to 10,200,000 common shares of the Company representing approximately 5.0% of SSR Mining's total issued and outstanding common shares.
• Balance sheet continues to support growth initiatives: As of June 30, 2023, SSR Mining had a total cash balance of $412.8 million, reflecting the $120 million upfront cash payment as part of the previously announced Hod Maden transaction and the aforementioned capital returns in the second quarter of 2023. SSR Mining's strong balance sheet, including non-GAAP net cash of $147.3 million and total available liquidity of $712.8 million, supports the Company's long-term capital commitments and the continuation of the Company's dynamic shareholder returns strategy.
• Acquired an up to 40% ownership interest and operatorship in the Hod Maden Gold-Copper project: In the second quarter of 2023, the Company announced the acquisition of an up to 40% interest and immediate operational control in the Hod Maden gold-copper development project ("Hod Maden") in northeastern Turkiye from Lidya Mines. Aggregate acquisition consideration totals $270 million, which included a $120 million upfront cash payment to acquire a 10% interest in Hod Maden, followed by $150 million in earn-in structured milestone payments to acquire an additional 30% interest, payable between the start of construction and the first anniversary of commercial production. The acquisition of Hod Maden adds one of the highest margin and lowest capital intensity development projects globally to SSR Mining's robust portfolio of high-return growth projects and leverages SSR Mining's significant experience in Turkiye.
• Copler sulfide plant continues to deliver solid performance; Cakmaktepe Extension on track for first production in 2023: Gold production was 52,031 ounces in the second quarter of 2023 at cost of sales of $1,117 per ounce and AISC of $1,384 per ounce. The sulfide plant delivered another strong quarter, with an average throughput rate of nearly 7,500 tonnes per day. Planned maintenance in the Copler sulfide plant will be completed in the third quarter of 2023, and no further planned maintenance is expected until 2024. The Cakmaktepe Extension project remains on track to deliver first gold production in 2023, with initial waste stripping activity underway. In the second half of 2023, Copler's production profile is expected to be 50 to 55% weighted to the fourth quarter reflecting the maintenance shutdown in the third quarter.
• Strong quarterly production at Marigold: Gold production was 60,443 ounces in the second quarter of 2023 at cost of sales of $1,059 per ounce and AISC of $1,656 per ounce. The $64 million in sustaining capital spent year-to-date was primarily allocated to the purchase of four new haul trucks that will be used to support waste stripping activities. Marigold remains on track for its $81 million full-year sustaining capital guidance.
• Production improves at Seabee: Gold production was 16,428 ounces in the second quarter of 2023 at cost of sales of $1,192 per ounce and AISC of $1,690 per ounce. Underground mining rates rebounded in the second quarter, averaging more than 1,300 tonnes per day reflecting the ongoing success of continuous improvement initiatives at the site. Processed grades improved in July, positioning Seabee for a stronger second half of 2023.
• Puna continues to deliver strong performance: Silver production was 2.3 million ounces in the second quarter of 2023 at cost of sales of $18.02 per ounce of silver and AISC of $17.41 per ounce of silver. Puna again delivered solid process plant performance, with throughput averaging more than 4,600 tonnes per day during the second quarter.
• ESG and Sustainability Report: On April 14, 2023, the Company published its fifth annual ESG and Sustainability Report. The report provided a comprehensive overview of how SSR Mining manages sustainability across its business, detailed specific achievements from 2022 as well as outlined the commitments the Company made for 2023.

Financial and Operating Highlights

A summary of the Company's consolidated financial and operating results for the three and six months ended June 30, 2023 and June 30, 2022 are presented below:

Copler, Turkiye (amounts presented on 100% basis)

For the three months ended June 30, 2023 and 2022, Copler produced 52,031 and 51,390 ounces of gold, respectively. For the six months ended June 30, 2023 and 2022, Copler produced 107,105 and 122,030 ounces of gold, respectively. Gold sold was less than gold produced during the three months ended June 30, 2023 as a result of timing of sales due to Turkish holiday closures during the last week of the quarter, which resulted in a buildup of finished goods inventory. Second quarter 2023 cost of sales of $1,117 per ounce and AISC of $1,384 per ounce were in line with expectations resulting in year-to-date cost of sales of $1,209 per ounce and AISC of $1,404 per ounce.

Planned maintenance in the Copler sulfide plant will be completed in the third quarter of 2023, and no further maintenance is planned until 2024. The Cakmaktepe Extension project remains on track to achieve first production within 2023, with initial waste stripping activities underway. Technical work for the Copler expansion project continues to advance, including updated Mineral Reserves and Mineral Resources, and an updated technical report. In the second half of 2023, Copler's production profile is expected to be 50 to 55% weighted to the fourth quarter reflecting the maintenance shutdown in the third quarter.

Marigold, USA

For the three months ended June 30, 2023 and 2022, Marigold produced 60,443 and 45,769 ounces of gold, respectively. Higher production for the three months ended June 30, 2023, as compared to the prior year, is attributable to more tonnes stacked and the timing of leach recoveries. For the six months ended June 30, 2023 and 2022, Marigold produced 112,422 and 79,557 ounces of gold, respectively. Second quarter 2023 cost of sales of $1,059 per ounce and AISC of $1,656 per ounce were in line with expectations resulting in year-to-date cost of sales of $1,061 per ounce and AISC of $1,659 per ounce.

With the mine stacking more typical ore in 2023, leach cycles have now returned to normal and no further delays to gold recovery are expected going forward. The sustaining capital spent year-to-date was primarily allocated to the purchase of four new haul trucks that will be used to support waste stripping activities. Marigold remains on track for its $81 million full-year sustaining capital guidance.

Seabee, Canada

For the three months ended June 30, 2023 and 2022, Seabee produced 16,428 and 38,341 ounces of gold, respectively. Lower production for the three months ended June 30, 2023, as compared to the prior year, is attributable to lower grades mined and processed as Seabee continued to rebound from unplanned maintenance downtime in the first quarter of 2023. For the six months ended June 30, 2023 and 2022, Seabee produced 32,196 and 90,923 ounces of gold, respectively. Second quarter 2023 cost of sales of $1,192 per ounce and AISC of $1,690 were above expectations reflecting the lower production.

As guided, sustaining capital spend at Seabee was concentrated in the first half of the year as a result of the winter road season. Processed grades improved in July, positioning Seabee for a stronger second half of 2023.

Puna, Argentina

For the three months ended June 30, 2023 and 2022, Puna produced 2.3 million and 2.0 million ounces of silver, respectively with the year-over-year increase primarily driven by higher mill feed grade. For the six months ended June 30, 2023 and 2022, Puna produced 4.3 million and 3.3 million ounces of silver, respectively. Second quarter 2023 cost of sales of $18.02 per ounce of silver sold and AISC of $17.41 per ounce of silver sold were in line with expectations.

Conference Call Information

This news release should be read in conjunction with the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") and available on the SEC website at www.sec.gov or www.ssrmining.com.

Conference call and webcast: Wednesday, August 2, 2023, at 5:00 pm EDT.

Toll-free in U.S. and Canada: +1 (800) 319-4610

All other callers: +1 (604) 638-5340

Webcast: http://ir.ssrmining.com/investors/events

The conference call will be archived and available on our website. Audio replay will be available for two weeks by calling:

Toll-free in U.S. and Canada: +1 (855) 669-9658, replay code 0214

All other callers: +1 (412) 317-0088, replay code 0214

Dividend Declaration

On August 2, 2023 the Board of Directors declared a quarterly cash dividend of $0.07 per common share, payable on September 11, 2023 to holders of record at the close of business on August 14, 2023. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

The dividend payment applies to holders of SSR Mining's common shares, which trade on the Toronto Stock Exchange and the Nasdaq under the symbol SSRM, and to holders of its CHESS Depositary Interests ("CDIs"), which trade on the Australian Securities Exchange under the symbol SSR. Each CDI confers a beneficial interest in one common share. Therefore, CDI holders are entitled to a dividend calculated on the same basis as the holders of SSR Mining's common shares.

SSR Mining has sought and been granted a temporary waiver of certain of the ASX Settlement Operating Rules. Under the authority of the waiver, the processing of conversions of common shares to CDIs, or CDIs to common shares, lodged on or after or after August 11, 2023, will be deferred until after the record date of August 14, 2023. The key dates with respect to the dividend are as follows:

Payments to Canadian shareholders will be made in Canadian dollars based on the exchange rate on the record date as reported by the Bank of Canada. Payments to other shareholders will be made in U.S. dollars. For CDI holders, payments will be made in Australian dollars, and it is expected to be based on the prevailing exchange rate sourced from the wholesale foreign exchange market on or around 5 business days after the record date.

About SSR Mining

SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the USA, Turkiye, 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.

We seek Safe Harbor.