Mr. Rod Antal reports

SSR MINING REPORTS FOURTH QUARTER AND FULL-YEAR 2023 RESULTS

SSR Mining Inc. has released consolidated financial results for the fourth quarter and full-year ended Dec. 31, 2023. Subsequent to year-end 2023, on February 13, 2024, operations at Copler were suspended as a result of a significant slip on the heap leach pad (the "Copler Incident"). Nine individuals remain unaccounted for as a result. The Company is not, at this time, able to estimate or predict when it will resume operations at Copler. The Company is assessing the potential impacts on the business, cash flows, results of operations and financial condition.

Rod Antal, Executive Chairman of SSR Mining, said, "Right now, our attention is focused at Copler. The events of February 13, 2024 were tragic and overshadow today's results. We are heartbroken and sympathize with what we know is an extraordinarily stressful time for the families, friends and colleagues of the nine missing personnel.

We would like to recognize the overwhelming support by a number of government agencies who are providing significant resources at Copler. Our teams are supporting the various government agencies to ensure that areas impacted are safe to continue the recovery and containment work. Finally, initial discussions and technical support is progressing to agree on the ultimate permanent storage location for the heap leach material that has been displaced from the heap leach pad.

Due to the evolving situation at our Copler mine, we are retracting our previously issued 2024 and long-term guidance forecasts for Copler and Turkiye. We are also suspending our quarterly dividend payments and the automatic share purchase plan ("ASPP"). While we continue to assess the impact of the Copler Incident, with a year-end 2023 cash balance of nearly $500 million and our operations at Marigold, Seabee and Puna continuing to generate cash flow, we do not, at this time, anticipate any near-term liquidity concerns. This is a challenging time, and we continue to offer our support to all individuals impacted by the events of February 13, 2024."

Detailed disclosure related to the Copler Incident is included in the Company's 10-K filed today. SSR Mining has also created a page on its website where it will be providing further updates on the situation at Copler.

Fourth Quarter and Full-Year 2023 Results & Subsequent Events: (1)

(All figures are in U.S. dollars unless otherwise noted; 2023 results do not reflect any impact of the Copler Incident)

Copler Incident: On February 13, 2024, the Company suspended operations at Copler as a result of a significant slip on the heap leach pad. At this time, nine personnel remain unaccounted for. The Turkish government is conducting environmental monitoring of surface water, groundwater, soil and air quality in the region with respect to potential contamination. Public comments from the Turkish government indicate that to date, the testing results have been negative with respect to potential contamination in the locations being monitored. Containment and remediation efforts are ongoing, which are being directed by the Turkish government and supported by the Company, with an initial focus on removing heap leach material from the Sablrll Valley and relocating it to a permanent storage location. The Company is in the process of evaluating the estimated remediation costs and anticipates recording a remediation liability during the first quarter of 2024. We also anticipate recording an impairment of inventory and specific assets directly impacted by the Copler Incident and will evaluate the Copler long-lived asset group for additional impairment during the first quarter of 2024. As of December 31, 2023, the Copler leach pad inventory of $73.3 million represents 19% and 10% of Copler's total inventory and of the Company's total inventory, respectively. As of December 31, 2023, the Copler mineral, properties, plant and equipment ("MPP&E") related to the leach pad of $33.1 million represents 1.0% and 0.8% of Copler's total MPP&E and of the Company's total MPP&E, respectively.

Board of Directors: In light of the Copler Incident, Michael Anglin, currently our Lead Independent Director, who had previously advised the Company of his decision to retire and not stand for re-election to the Board, is expected to postpone his retirement and stand for re-election at the Company's 2024 Annual Meeting of Shareholders. Mr. Anglin has served on the Board since 2008 and brings more than 30 years of industry experience to his role. Mr. Anglin's continued presence during this period will provide important experience and leadership on the Board.

Operating results: Fourth quarter 2023 production was 211,226 gold equivalent ounces at cost of sales of $1,064 per gold equivalent ounce and AISC of $1,326 per gold equivalent ounce. For the twelve months ending December 31, 2023, SSR Mining reported production of 706,894 gold equivalent ounces at cost of sales of $1,141 per gold equivalent ounce and AISC of $1,461 per gold equivalent ounce. Production was previously reported in mid-January 2024 and was in line with 2023 guidance.

Financial results: Attributable net loss in the fourth quarter of 2023 was $217.8 million, or $1.07 per diluted share, largely attributed to a non-cash impairment at Copler as a result of the Company removing C2 Mineral Resources from its consolidated Mineral Reserves and Mineral Resources ("MRMR") statement. Adjusted attributable net income in the fourth quarter was $127.1 million, or $0.59 per diluted share. In the fourth quarter of 2023 operating cash flow was $203.2 million, or $218.4 million before working capital adjustments, and free cash flow was $144.4 million, or $159.6 million before changes in working capital. For the twelve months ending December 31, 2023, attributable net loss was $98.0 million, or $0.48 per diluted share and adjusted attributable net income was $276.5 million, or $1.29 per diluted share. For the twelve months ending December 31, 2023, operating cash flow was $421.7 million, or $555.9 million before working capital adjustments, and free cash flow was $198.3 million, or $332.5 million before changes in working capital.

Capital returns program: For the twelve months ending December 31, 2023, SSR Mining returned $114.0 million to shareholders, a capital returns yield of approximately 5.0%. Capital returns were composed of $57.7 million in quarterly cash dividend payments and $56.3 million in share repurchases. As a result of the Copler Incident, the Company suspended its dividend and share repurchases.

Year-end cash and liquidity position: As of December 31, 2023, SSR Mining had a cash and cash equivalent balance of $492.4 million and a non-GAAP net cash position of $261.6 million.

Technical Report Summaries published for all producing assets: On February 13, 2024, the Company released Technical Report Summaries ("TRS") for Marigold, Puna, and Seabee. The TRS are in compliance with Subpart 1300 of Regulation SK. These reports include refreshed operating and economic assumptions for each asset. The Company also released a TRS for Copler, which had an effective date of October 31, 2023 and as such does not reflect the impact of the Copler incident. The operating and economic assumptions in the TRS are being evaluated.

Copler 2023 operating results: Gold production was 57,126 ounces in the fourth quarter of 2023 at cost of sales of $1,160 per payable ounce and AISC of $1,535 per payable ounce. During the fourth quarter of 2023, Copler recovered approximately 10,000 ounces of gold from Cakmaktepe, which delivered first production in late September 2023. For the twelve months ending December 31, 2023, gold production for Copler was 220,999 ounces at full-year cost of sales of $1,191 per payable ounce and AISC of $1,433 per payable ounce. As a result of the Copler Incident, all operations at the mine are suspended.

Marigold 2023 operating results: Gold production was 82,794 ounces in the fourth quarter of 2023 at cost of sales of $1,095 per payable ounce and AISC of $1,170 per payable ounce. For the twelve months ending December 31, 2023, gold production for Marigold was 278,488 ounces, a record for the operation over its more than 30-year operating history. For the full-year, the Company reported cost of sales of $1,047 per payable ounce and AISC of $1,349 per payable ounce.

Seabee 2023 operating results: Gold production was 38,757 ounces in the fourth quarter of 2023, reflecting processed grades of over 10.1 g/t in the quarter, at cost of sales of $666 per payable ounce and AISC of $916 per payable ounce. Underground mining and plant throughput averaged approximately 1,300 tonnes per day during the fourth quarter of 2023, highlighting the ongoing success of continuous improvement initiatives at the mine. For the twelve months ending December 31, 2023, gold production for Seabee was 90,777 ounces at cost of sales of $991 per payable ounce and AISC of $1,427 per payable ounce.

Puna 2023 operating results: Silver production was 2.8 million ounces in the fourth quarter of 2023 at cost of sales of $14.07 per payable ounce and AISC of $15.51 per payable ounce. For the twelve months ending December 31, 2023, Puna's silver production was 9.7 million ounces, exceeding the full-year guidance range, at cost of sales of $16.49 per payable ounce and AISC of $15.37 per payable ounce, below the full-year guidance range.

Automatic Share Purchase Plan Termination: The Company announces that, in connection with its normal course issuer bid (the "NCIB"), it has terminated its previously announced automatic share purchase plan (the "ASPP") with a designated broker, pursuant to which the designated broker could acquire common shares of the Company based on pre-established purchasing parameters, without further instructions by the Company, in compliance with the rules of the Toronto Stock Exchange. The termination is effective March 1, 2024. The Company confirms that at the time of sending the notice of termination of the ASPP, it did not possess knowledge of any material fact or material change about the Company or any of its securities that has not been generally disclosed.

(1) The Company reports non-GAAP financial measures including adjusted attributable net income, adjusted attributable net income per share, cash generated by operating activities before working capital adjustments, free cash flow, free cash flow before changes in working capital, net cash (debt), cash costs and AISC per ounce sold (a common measure in the mining industry), to manage and evaluate its operating performance at its mines. See "Cautionary Note Regarding Non-GAAP Financial Measures" for an explanation of these financial measures and a reconciliation of these financial measures to the most comparable GAAP financial measures.

Select Updated 2024 Guidance Outlook

As a result of the Copler Incident, the Company is retracting all previously issued operating and cost guidance for Copler and its operations and projects in Turkiye. SSR Mining will revisit the forward-looking guidance at an appropriate future date.

Financial and Operating Highlights

A summary of the Company's consolidated financial and operating results for the three and twelve months ended December 31, 2023 and December 31, 2022 are presented below:

Copler, Turkiye (amounts presented on 100% basis)

For the three months ended December 31, 2023 and 2022, Copler produced 57,126 and 65,603 ounces of gold, respectively. For the twelve months ended December 31, 2023 and 2022, Copler produced 220,999 and 191,366 ounces of gold, respectively. In the fourth quarter of 2023, Copler recovered approximately 10,000 ounces of gold from Cakmaktepe, which delivered first production late in the third quarter of 2023 in line with guidance. The Copler sulfide plant operated at an average throughput rate of nearly 7,500 tonnes per day in 2023 and more than 7,700 tonnes per day in the fourth quarter of 2023. Fourth quarter 2023 cost of sales of $1,160 per payable ounce and AISC of $1,535 per payable ounce resulted in full-year cost of sales of $1,191 per payable ounce and AISC of $1,433 per payable ounce.

As a result of the removal of copper-gold mineralization associated with the C2 Project at Copler from the Company's Mineral Resources as of December 31, 2023, SSR Mining performed its long-lived asset and impairment evaluation. Based on the evaluation, the Company recorded a non-cash write down of $349 million at Copler in the Company's financial statements for the year ended December 31, 2023. This reduced the fixed asset and mineral property value for Copler from approximately $2.80 billion to $2.45 billion as of 2023 year-end.

The Company is unable to reasonably estimate the impact of the Copler Incident on the financial position, results of operations and cash flows of Copler and the Company as a whole at this time.

Marigold, USA

For the three months ended December 31, 2023 and 2022, Marigold produced 82,794 and 62,875 ounces of gold, respectively. For the twelve months ended December 31, 2023 and 2022, Marigold produced 278,488 and 194,668 ounces of gold, respectively, a record for the operation over its more than 30-year operating history and in line with full-year guidance. Fourth quarter 2023 cost of sales of $1,095 per payable ounce and AISC of $1,170 per payable ounce were in line with expectations resulting in full year 2023, cost of sales of $1,047 per payable ounce and AISC of $1,349 per payable ounce.

Seabee, Canada

For the three months ended December 31, 2023 and 2022, Seabee produced 38,757 and 24,709 ounces of gold, respectively, reflecting strong grades of over 10.1 g/t in the fourth quarter of 2023. For the twelve months ended December 31, 2023 and 2022, Seabee produced 90,777 and 136,125 ounces of gold, respectively. Underground mining and plant throughput averaged approximately 1,300 tonnes per day during the fourth quarter of 2023. Fourth quarter 2023 cost of sales of $666 per payable ounce and AISC of $916 per payable ounce resulted in full-year 2023, cost of sales of $991 per payable ounce and AISC of $1,427 per payable ounce.

As a result of the updates to Mineral Reserves and Mineral Resources as of year-end 2023, the Company evaluated goodwill and long-lived assets for impairment. Based on that analysis, the Company recorded a write-down of $50 million in goodwill at Seabee in the Company's financial statements for the year ended December 31, 2023.

Puna, Argentina

For the three months ended December 31, 2023 and 2022, Puna produced 2.8 million and 2.4 million ounces of silver, respectively. For the twelve months ended December 31, 2023 and 2022, Puna produced 9.7 million ounces of silver and 8.4 million ounces of silver. Full-year 2023 production was a record for the operations more than 15 year operating life and exceeded the mine's original full-year production guidance range. Fourth quarter 2023 cost of sales of $14.07 per payable ounce and AISC of $15.51 per payable ounce resulted in full-year 2023 cost of sales of $16.49 per payable ounce and AISC of $15.37 per payable ounce.

Mineral Reserves and Mineral Resources ("MRMR") for Year-End 2023

For a detailed summary by asset, please refer to Item 2. Properties in the Company's Annual Report, and for a discussion of year-over-year changes to the MRMR figures below, please see the Company's press release on February 13, 2024 titled, "SSR Mining Issues Multi-Year Guidance and Technical Reports for all Operating Assets". Please note that the information in the Company's press release dated February 13, 2024 and the Technical Report Summary for Copler filed at the same time did not reflect the impact of the Copler Incident. The operating and economic assumptions, along with the mineral reserve, mineral resources, cost estimates and other findings contained in press release and the Technical Report Summary may no longer be accurate and, when more information is available regarding the operations at Copler, the TRS may need to be amended.

As per Subpart 1300 of Regulation S-K, the Company's year-end 2023 MRMR are presented on an attributable basis.

Conference Call Information

This news release should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 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: Tuesday, February 27, 2024, at 5:00 pm EST.

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 0631

All other callers: +1 (412) 317-0088, replay code 0631

SSR Mining has created a page on its website where it will be providing updates on the situation at Copler. Accordingly, interested parties, investors and others should monitor this section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts for more information on the situation at Copler.

About SSR Mining

SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX, and SSR on the ASX.

Qualified Persons

The scientific and technical information concerning our mineral projects in this news release have been reviewed and verified by a "qualified person" under subpart 1 of Regulation S-K 1300 ("S-K 1300"). For a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources included in this news release, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for each of the Company's material properties, which are available under the Company's corporate profile on EDGAR at www.sec.gov.

We seek Safe Harbor.