VANCOUVER, BC, May 14, 2024 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX:ARIS) (NYSE-A: ARMN) announces its full financial and operating results for the three months ended March 31, 2024 (Q1 2024). Aris Mining previously released Q1 2024 production results and announced that it is on track to deliver full-year 2024 guidance while its expansion projects advance in a news release dated April 15, 2024. All amounts are in US dollars unless otherwise indicated. Q1 2024 Gold production (Segovia & Marmato) 50,768 ounces Segovia Operations All-in Sustaining Cost per Ounce Sold (AISC/oz)1 $1,434 EBITDA1 $22.4M Adjusted EBITDA1 $28.4M Net earnings (loss) $(0.7)M or $(0.01)/share Adjusted earnings1 $5.4M or $0.04/share Number of common shares outstanding May 14, 2024 152.2M Aris Mining CEO Neil Woodyer stated: "During Q1, our high-grade Segovia Operations produced 44,909 ounces of gold at a processed grade of 9.42 g/t, which was in-line with our mine plan for the quarter. As we announced in April, our operations are on-track to achieve full year 2024 production guidance of 220,000 to 240,000 ounces. AISC per ounce1 at Segovia of $1,434 were also in-line with budgeted expectations. During Q1, the Segovia Operations generated $13.8 million in cash flow from operations1 before expansion capital and taxes. We invested $37.4 million in our projects and mines, and we ended the quarter with a cash position of $147 million. Both of our expansion projects progressed well during the quarter. At Segovia, the mill expansion from 2,000 to 3,000 tonnes per day has advanced with completion of mill sizing optimization studies, civil works for the relocated CMP mill feed receiving area are 85% complete, major equipment orders have been placed, and geotechnical test work for the mill and silo foundations are complete. At the Marmato Lower Mine, most of the mechanical equipment has been ordered, including the crushers, ball and SAG mills, gravity concentrators, thickeners, and filter presses. The access road has reached the portal level, which allows the portal contractor access to their work area, and the second phase of the contract for the decline development has been submitted to a third-party review and will be awarded soon." Operations Review – Segovia Operations Q1 2024 Q4 2023 Q1 2023 Tonnes milled (t) 154,425 166,329 149,965 Average tonnes milled per day (tpd) 1,817 1,934 1,785 Average gold grade processed (g/t) 9.42 10.63 10.11 Gold produced (ounces) 44,909 54,719 46,513 Cash costs ($/ounce sold)1 1,162 997 814 AISC – total ($/ounce sold)1 1,434 1,264 1,104 _________________________________ 1  AISC ($ per oz sold), EBITDA, adjusted EBITDA, adjusted earning, free cash flow, cash costs and sustaining capital are non-IFRS financial measures in this document. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Refer to the Non-IFRS Measures section below for a reconciliation of these measures to the most directly comparable financial measure disclosed in the Company's interim financial statements. Aris Mining Quarterly Cashflow Generation – Q1 2024 (US$ million) Q1 2024 Gold sold (ounces) 51,044 Gold produced (ounces) 50,768 Average realized gold price ($/ounce sold) $2,061 Gold revenue 105.2 Total cash costs1, royalties & social contributions (72.4) Sustaining exploration (1.0) Sustaining capital - other (6.8) All in sustaining margin 25.0 Taxes paid - General and administration expenses (4.2) Change in receivables related to metal sales and VAT (9.1) Change in working capital and other (17.8) Impact of foreign exchange losses on cash balances (0.3) Cash flow from operations (6.4) Expansion and growth capital1 at:   Marmato Upper Mine & Lower Mine (16.7)   Regional exploration program (3.0)   Segovia Operations – other growth capital (8.5)   Toroparu Project (1.9) Total expansion and growth capital (30.1) Cashflow from operations after expansion capital (36.5)