Aris Mining has completed the acquisition of the remaining 40% stake in the Soto Norte project for $150 million, giving it 100% ownership of a high-grade gold deposit estimated to contain 1.2 million ounces of gold in measured and indicated resources. The move accelerates the company’s timeline for a feasibility study, now targeted for late 2025, and positions Soto Norte as a cornerstone asset that could add 150,000 ounces of annual gold production at all-in sustaining costs below $900 per ounce.

At the flagship Toroparu project in Guyana, Aris Mining has completed 30,000 meters of infill and step-out drilling during the first half of 2025, confirming an expanded resource of 3.8 million ounces of gold in measured and indicated categories. Metallurgical test work is on track for completion in Q4 2025, supporting the planned submission of a prefeasibility study by mid-2026. Project engineering now benefits from improved oxide recovery rates above 90%, up from prior estimates of 85%.

Aris Mining reported free cash flow of $50 million in the first six months of fiscal 2025, driven by higher-grade ore from its Latin American operations and disciplined operating cost control. The company ended Q2 with $120 million in available liquidity, enabling it to self-fund Soto Norte acquisition costs and allocate $25 million toward Toroparu advanced engineering without requiring equity dilution or debt issuance.

Production from Aris’s Latin American mines increased by 10% year-over-year in Q2 2025, reaching 100,000 ounces of gold, as improved mill throughput and a new secondary crusher at the mineral processing facility boosted capacity by 15%. All-in sustaining costs declined to $875 per ounce, marking a 5% improvement from the prior quarter and highlighting operational efficiencies that underpin the company’s ability to fund its growth pipeline while delivering margin expansion.