SOTO NORTE JV

On April 12, 2022 the Company completed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest. A feasibility study on the Soto Norte project defined a steady-state production rate of 450,000 ounces of gold per year at life-of-mine all-in sustaining costs (AISC) of $471 per ounce. Building on the detailed technical feedback provided by the Colombian environmental regulatory authority (ANLA) to the former operators in 2021, Aris Gold will lead the drafting and submission of a new Environment and Social Impact Assessment (ESIA). As operator, Aris Gold’s team will contribute its knowledge and experience as well as undertake a respectful consultation process with the local stakeholders. Aris Gold will then be well-placed to lead the Soto Norte gold project through the construction and operations phases, which are expected to occur following completion of the Marmato Lower Mine expansion

Soto Norte is a large-scale gold project that is well-aligned with our core strengths as mine operators in Colombia. A feasibility study on the Soto Norte project defined a steady-state production rate of 450,000 ounces of gold per year. As the JV operator, we are contributing our knowledge and experience to provide a respectful licensing process with local stakeholders. During 2022, Aris Gold will focus on the drafting and delivery of a new ESIA for the Soto Norte project in 2023