Get local Breaking News alerts sent directly to your inbox. Seabee achieved record production at near-record low cash costs, while Puna production and costs benefited from a full quarter of processing higher grade Chinchillas ore and increasing by-product credits. Beginning with the first quarter of 2018, the holder of the 3% net smelter return royalty elected to receive its royalty in-kind and we will no longer report these ounces within gold sold. Our guidance is unchanged from that reported on January 15, 2019. Access to the mine site is by fixed wing aircraft to a 1,275-meter airstrip located on the property. Carver is our Chief Geologist at the Marigold mine. In 2018, we evaluated the potential for an underground mine at the Pirquitas deposit to provide supplemental ore to the Pirquitas mill. Our forward-looking statements are based on what our management considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently available to it. This work comprised 12 core holes for 4,893 meters. Lower unit costs more than offset lower grades processed. Cash costs, which include cost of inventory, treatment and refining costs, provincial royalties, export duties and by-product credits, were $9.94 per payable ounce of silver sold in the first quarter of 2019, a 34% decrease from $15.02 per payable ounce of silver sold in the fourth quarter of 2018. To receive SSR Mining's news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com. This compared to $1.4 million generated from investing activities in the first quarter of 2018. Audio replay will be available for two weeks by calling. Fisher is located within the Trans Hudson Corridor approximately 125km east of La Ronge, Saskatchewan and is contiguous to the north, south and east with SSR Mining's Seabee Gold Operation. Equipment and large supplies are transported to the site via a 60-kilometer winter ice road, which is typically in use from January through March. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Cash generated from financing activities of $77.4 million resulted from the completion of our $230 million aggregate principal amount of 2.50% unsecured convertible senior notes (the "2019 Notes") offering for net proceeds of $222.9 million somewhat offset by the partial repurchase of our outstanding $265 million 2.875% convertible senior notes (the "2013 Notes") for $152.3 million. For 2019, the Seabee Gold Operation planned 45,000 meters of underground drilling and 23,000 meters of surface drilling with the objective to increase and convert Mineral Resources into Mineral Reserves near the Santoy Mine. The scientific and technical information contained in this news release relating to the Marigold mine has been reviewed and approved by Greg Gibson and James N. Carver, each of whom is a SME Registered Member and a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). For a full description of the 2019 Notes see the "Capital Resources" discussion in Section 5 of our MD&A. As a result, we delivered another quarter of solid financial performance and are well positioned to achieve record production for 2019. Includes expansion capital expenditure of $22 million in 2018. Revenue in the first quarter of 2019 increased by 29% relative to the comparative quarter in 2018, due principally to an increase in gold sales both at the Marigold mine and the Seabee Gold Operation. The forward-looking statements in this news release relate to, among other things: future production of gold, silver and other metals; future costs of inventory, and cash costs and AISC per payable ounce of gold, silver and other metals sold; expected achievement of our annual production and cash costs guidance, including record production in 2019; expected exploration and development expenditures; the prices of gold, silver and other metals; the effects of laws, regulations and government policies affecting our operations or potential future operations; future successful development of our projects; the sufficiency of our current working capital, capital resources, anticipated operating cash flow or our ability to raise necessary funds; estimated production rates for gold, silver and other metals produced by us; expected metallurgical results and recovery rates; our ability to discover Mineral Resources and to convert Mineral Resources into Mineral Reserves; timing of production at the Marigold mine, the Seabee Gold Operation and Puna Operations; timing and results of our exploration and development programs; sales of silver/lead and zinc concentrates being consistent with production at Puna Operations for 2019; expected cost and timing of completion of construction milestones at Puna Operations, including the expectation that the Chinchillas project will remain on budget and achieving steady state production at Chinchillas; ongoing or future development plans and capital replacement, improvement or remediation programs; the estimates of expected or anticipated economic returns from our mining projects, including future sales of metals, concentrate or other products produced by us; and our plans and expectations for our properties and operations. We used $33.8 million in investing activities in the first quarter of 2019. Error! During the first quarter, ore feed to the Pirquitas plant has been exclusively from the Chinchillas mine. This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. Mr. Chapman is our General Manager and Mr. Kulas is our Manager Geology, Mining Operations at the Seabee Gold Operation. Cautionary Note Regarding Forward-Looking Statements. Seabee Gold Operation produced a record 31,183 ounces of gold in the first quarter of 2019, largely due to timing of gold pours at year-end 2018 and aided by the increased mill throughput rate. Includes capitalized and expensed exploration expenditures. On an attributable basis we expect to produce 375,000 gold equivalent ounces in 2019 at gold equivalent cash costs of $700 per payable ounce sold based on the mid-points of guidance. On an attributable basis, silver production and sales for the first quarter totaled 1.8 million ounces and 0.7 million ounces, respectively. Based on the mid-points of guidance, on a consolidated basis we expect to produce 395,000 gold equivalent ounces in 2019 at gold equivalent cash costs of $700 per payable ounce sold. Cameron Chapman, P.Eng., our former General Manager at Seabee, and Jeffrey Kulas, P.Geo., our Manager Geology, Mining Operations at Seabee, each of whom is a Qualified Person, have reviewed and approved the foregoing disclosure on Seabee. Despite the higher cash costs, AISC per payable ounce of gold sold decreased in the first quarter of 2019 to $984 from $995 in the fourth quarter due to decreased capital spending, partially offset by higher deferred stripping and capitalized exploration. Subsequent to the quarter, we entered into annual contracts for all expected 2019 concentrate tonnage, in line with past practice. This, combined with payable silver ounces sold well below production due to the required ramp-up in concentrate sales, drove higher per payable ounce sustaining capital costs in the quarter. You have permission to edit this article. We report non-GAAP measures including income from mine operations, operating income, adjusted attributable income before tax, adjusted attributable net income, and adjusted basic attributable income per share, to manage and evaluate our operating performance. Mr. Gill is our General Manager at Puna Operations and Mr. Edmunds is our Vice President Exploration. Please refer to the Mineral Reserves and Mineral Resources tables in our news release dated September 7, 2017. VANCOUVER, May 14, 2020 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") reports consolidated financial results for the first quarter ended March 31, 2020. We report the non-GAAP financial measure of cash costs per payable ounce of gold and silver sold to manage and evaluate operating performance at the Marigold mine, the Seabee Gold Operation and Puna Operations. Mineral Resources are reported inclusive of Mineral Reserves. This included expenditures of $13.2 million on property, plant and equipment and $6.1 million on the Chinchillas project. SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") reports consolidated financial results for the first quarter ended March 31, 2019. Does not include exploration or development expenditures of the Chinchillas project. Magnetic inversions have been completed and contribute to target selection at both properties. Under SEC standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically produced or extracted at the time the reserve determination is made. SSR Mining intends to leverage its strong balance sheet and proven track record of free cash flow generation as foundations to organically fund growth across the portfolio and to facilitate superior returns to shareholders. In the first quarter of 2019, we generated net income of $5.7 million, compared to a net loss of $2.3 million in the first quarter of 2018. Cash costs per payable ounce of gold sold, which include all costs of inventory and refining costs, were $467 in the first quarter of 2019, 7% lower than the $502 recorded in the fourth quarter of 2018. This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the U.S. Across SSR Mining, the team has expertise in project construction, mining (open pit and underground), and processing (pressure oxidation, heap leach, and flotation), with a strong commitment to health, safety and environmental management. For further information contact: The Chinchillas truck shop structure is complete with equipping remaining in process.

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