Acquisition of 30% of Kartaltepe transfers control of entire Ҫӧpler district to SSR Mining

DENVER, CO., October 24, 2022 /PRNewswire/ – SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) (“SSR Mining” or the “Company”) is pleased to announce that it has entered into an agreement to acquire 30% additional joint venture interest Kartaltepe Mining (“Kartaltepe”) in Ҫӧpler district from partner Lidya Mining (“Lidya”) for a total consideration of $150 million in cash (the “Transaction”). Upon completion of the transaction, SSR Mining will increase its stake in Kartaltepe to 50% and own 80% of the entire Ҫӧpler district. The acquisition is expected to generate significant synergies over the remainder of the currently defined 22-year life of the Ҫӧpler mine. The transaction will provide the company with increased exposure to potential exploration success on the geologically promising Kartaltepe licenses, including the Çakmaktepe Extension (Ardich), Çakmaktepe and the Mavialtin Porphyry Belt. SSR Mining will use proceeds from its sales of non-core assets received over the past 18 months to fund the transaction.

Cane AntalChairman and Chief Executive Officer, said, “The acquisition of an additional 30% of Kartaltepe builds on the company’s success in reinvesting proceeds from the sale of non-core assets in major international jurisdictions. exploitation. both short and long term for the operation. With this transaction, we expect to improve the life of mine cash flow for the Çakmaktepe extension while increasing our exposure to potential future upside in Ҫӧpler district. Resource conversion and expansion drilling at Çakmaktepe expansion continued throughout 2022, with the project remaining on track for first production in 2023. Thanks to our aggressive exploration targeting near-mine and regional prospects, we expect to generate further mineral resource and reserve growth in the Çöpler district in the coming years. This transaction builds on our longstanding, exclusive and accretive partnership with Lidya Mining within Turkey.”

Strategic rationale for the acquisition of Kartaltepe

  • Expands ownership of existing mineral reserves and resources in the Çakmaktepe, Çakmaktepe Extension and Bayramdere deposits while providing increased exposure to mineral resource conversion and expansion activities in the deposits in the future. Kartaltepe comprises eight licenses covering 9,200 hectares, which host a total of approximately 207,000 ounces of gold mineral reserves, including approximately 200,000 ounces, or 12%, of Çakmaktepe’s existing extension mineral reserves described in the District Master Plan of Ҫӧpler of 2021 (“CDMP21”). In addition, the licenses contain 408,000 ounces of measured and indicated mineral resources and 394,000 ounces of inferred mineral resources.
  • Streamlines operational, financial and exploration activities in the Ҫӧpler district while creating tangible synergies. Eliminates additional costs incurred by Anagold purchasing Kartaltepe ore to account for incremental ownership, as was the case previously 1.
  • Increases ownership of regional buildings spanning the Mavialtin Porphyry Belt, including potential targets of Mavidere, Saridere, Aslantepe, and Findiklidere. SSR Mining is actively drilling at Mavidere in 2022, following positive results from geochemical and geophysical surveying activities carried out on the prospect over the past two field seasons.

The transaction is expected to close in the fourth quarter of 2022, once closing conditions are satisfied.

Kartaltepe Overview

The total concessions of SSR Mining in the district of Çöpler cover approximately 25,800 ha. The licenses were previously handled under two separate joint ventures with Lidya: the Anagold Mining Joint Venture (“Anagold”) and Kartaltepe. With the completion of the transaction, SSR Mining will control 80% of each joint venture. SSR Mining previously controlled 50% of Kartaltepe, while the remaining 50% was controlled by Lidya. Kartaltepe hosts approximately 207,000 ounces of gold mineral reserves described in CDMP21, along with an additional 408,000 ounces of measured and indicated mineral resources and 394,000 ounces of inferred mineral resources, excluding mineral reserves. The licenses include the Çakmaktepe and Bayramdere deposits, and also cover the Mavialtin porphyry belt which has a number of exploration prospects including Mavidere, Saridere, Aslantepe and Findiklidere. Upon completion of this transaction, SSR Mining will own 80% of all licenses in the Ҫӧpler district.

1 Kartaltepe ore was previously sold in 2019 to JV Anagold in $15/tonne for on-site treatment.

About SSR Mining

SSR Mining Inc. is a premier, free cash flow focused gold mining company with four producing assets located in the UNITED STATESTurkey, Canadaand Argentina, combined with a global pipeline of high-quality development and exploration assets. In 2021, the four operating assets produced approximately 794,000 gold equivalent ounces. SSR Mining is listed under the symbol SSRM on NASDAQ and TSX, and SSR on ASX.

SSR mining contacts:

f. Edward FaridExecutive Vice President, Director of Corporate Development
Alex HinchakDirector, Corporate Development and Investor Relations

SSR Mining Inc.
E-mail: [email protected]
Phone: +1 (888) 338-0046

To receive SSR Mining press releases by email, please register on the SSR Mining website at

Caution Regarding Forward-Looking Information and Statements:

Except for statements of historical facts about us, certain statements contained in this press release constitute forward-looking information, forward-looking financial information or financial outlook (collectively “forward-looking information”) within the meaning of applicable securities laws. . Forward-looking information may be contained in this document and in our other public documents. Forward-looking information relates to statements regarding our prospects and anticipated events or results and, in some instances, may be identified by terms such as “may”, “will”, “might”, “should”, “expect”. to”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions relating to matters that are not historical facts.

The forward-looking information and statements contained in this press release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on forward-looking information and statements as we cannot guarantee that they will prove to be accurate. Forward-looking information and statements are subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this press release. The principal risks and uncertainties include, but are not limited to: local and global political and economic conditions; governmental and regulatory requirements and the actions of governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and their interpretation; developments regarding the COVID-19 pandemic, including the duration, severity and scope of the pandemic and potential impacts on mining operations; future success of resource exploration and development; and other risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission on EDGAR and Canadian securities regulators on SEDAR.

The forward-looking information and statements contained in this press release include all statements regarding, among others: the Company’s acquisition of 30% of Kartaltepe Mining Joint Venture and expected benefits and synergies; and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory and political matters that may influence or be influenced by future events or conditions.

This forward-looking information and statements are based on a number of important factors and assumptions, including, but not limited to, those disclosed in any of our other filings on EDGAR and SEDAR. Although we consider these factors and assumptions to be reasonable based on the information currently available to us, they may prove to be incorrect.

The above list is not exhaustive of the factors that could affect the Company’s forward-looking information. You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and projections regarding future events. Actual results may differ from this forward-looking information for a variety of reasons, including, but not limited to, the risks and uncertainties disclosed in our filings on our website at, on SEDAR at address, on EDGAR at and on the ASX at and other unforeseen events or circumstances. Except as required by law, we do not intend and undertake no obligation to update forward-looking information to reflect, among other things, new information or future events. Information contained on, or accessible through, our website is not incorporated by reference into, and does not form part of, this document.

SOURCE SSR Mining Inc.


Comments are closed.