Higher grades at Segovia drive output and revenue gains

Vancouver-based Aris Mining Corporation (TSX: ARIS; NYSE: ARIS) reported preliminary first-quarter 2026 gold production of 74,300 ounces from its two underground mines in Colombia, representing a 6% increase over the fourth quarter of 2025 and a 36% increase compared to the same period a year earlier.

The company said it sold 74,800 ounces of gold during the quarter at an average realized price exceeding $4,860 USD per ounce, generating gold revenue of more than $360 million USD. That figure marks a 20% increase from Q4 2025 revenue of $301 million USD and more than double the $154 million USD reported in Q1 2025. The company reported a cash balance exceeding $470 million USD as of March 31, 2026, an increase of approximately $80 million USD from the end of the previous quarter.

“We expect Q1 2026 gold revenue to exceed $360 million, a significant increase from $154 million in Q1 2025 and $301 million in Q4 2025, driven by higher gold prices and increased ounces sold.” — Neil Woodyer, Chair and CEO, Aris Mining Corporation

The production gains were concentrated at Aris Mining’s Segovia operation in the department of Antioquia, which produced 66,600 ounces during the quarter, up from 63,100 ounces in Q4 2025 and 47,500 ounces in Q1 2025. The year-over-year increase of 40% at Segovia was driven primarily by a notable improvement in ore grade. The average gold grade processed rose to 12.41 grams per ton from 9.37 grams per ton a year earlier, a 32% increase, while the volume of ore processed increased 5% to 175,000 tons. Recovery rates held at 95.3%, compared to 96.1% in both the prior quarter and Q1 2025.

The higher grades offset a decline in throughput compared to Q4 2025, when the mine processed 201,000 tons at an average grade of 10.10 grams per ton. Aris Mining completed installation of a second mill at Segovia in June 2025, increasing processing capacity by 50% to 3,000 tons per day, and the company has indicated that the ramp-up at the operation is continuing.

At the Marmato mine in the department of Caldas, production totaled 7,800 ounces in Q1 2026, an increase from 6,700 ounces in Q4 2025 and 7,200 ounces in Q1 2025. Marmato processed 77,000 tons of ore at an average grade of 3.53 grams per ton during the quarter, compared to 75,000 tons at 3.12 grams per ton in Q4 2025. Recovery rates at Marmato declined slightly to 89.6% from 90.8% in the prior quarter.

Consolidated Production Summary

Growth Outlook

Neil Woodyer, the company’s chair and CEO, said production growth in 2026 is expected to be weighted toward the second half of the year. The company is building a new bulk mine and carbon-in-pulp (CIP) processing plant at Marmato, with first gold expected in Q4 2026. At steady state, the expanded Marmato operation is expected to produce approximately 200,000 ounces per year.

Together, the Segovia and Marmato expansions are expected to increase Aris Mining’s annual gold production to approximately 500,000 ounces. The two mines produced a combined 257,000 ounces in 2025.

Beyond its operating mines, Aris Mining is advancing the Soto Norte gold project in the department of Santander, Colombia, where environmental studies are being finalized for submission in Q2 2026 to initiate the licensing process. The company also holds the Toroparu gold project in Guyana, where a prefeasibility study is underway and a construction decision is expected in early 2027. These projects form part of Aris Mining’s longer-term objective of reaching approximately 1 million ounces of annual gold production, though that target includes estimates from a preliminary economic assessment for Toroparu that the company has cautioned are based on inferred mineral resources and are speculative in nature.

The company expects to report full Q1 2026 financial and operating results on or about May 6, 2026. The quarterly results contained in the April 7 announcement are preliminary and may differ from final figures.

Aris Mining is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol ARIS. Company filings are available through SEDAR+ and the US Securities and Exchange Commission.

Aris Mining Corporation (TSX: ARIS; NYSE: ARIS) has released its financial and operating results for the fourth quarter and full year ending December 31, 2025. The company reported 2025 gold production of 256,503 ounces, a 22% increase from the 210,955 ounces produced in 2024. This output exceeded the midpoint of the company’s annual guidance of 230,000 to 275,000 ounces.

Annual gold revenue reached $909 million USD, representing an 82% increase over the previous year. Adjusted EBITDA rose to $464 million USD, up 185% from 2024, while adjusted net earnings were reported at $241 million USD, or $1.28 USD per share. As of year-end 2025, the company’s cash balance stood at $392 million USD, with net debt reduced to $86 million USD from $241 million USD at the end of 2024.

The Marmato Mine produced 28,741 ounces of gold, a 23% increase over the 2024 production level.

Operational Performance at Segovia and Marmato

Operations at the Segovia Operations in Colombia produced 227,762 ounces of gold in 2025, a 21% increase from 2024. This performance was supported by average gold grades of 9.82 g/t and a 17% increase in tonnes milled, following the installation of a second ball mill in June 2025. All-in sustaining costs (AISC) for owner-operated mining at Segovia were $1,534 USD per ounce, while AISC for Contract Mining Partners (CMPs) was $1,973 USD per ounce, reflecting a purchase formula linked to rising gold prices.

The Marmato Mine produced 28,741 ounces of gold, a 23% increase over the 2024 production level. The result exceeded the 2025 guidance range of 20,000 to 25,000 ounces. The company is currently advancing construction of a new carbon-in-pulp (CIP) processing facility at Marmato, with first gold production expected in the fourth quarter of 2026.

2026 Outlook and Project Development

Aris Mining has set its 2026 consolidated gold production guidance between 300,000 and 350,000 ounces. Production is expected to be weighted toward the second half of the year as the Marmato CIP plant begins operations. At Segovia, production is forecast to increase to between 265,000 and 300,000 ounces.

The company also provided updates on its development portfolio:

• Soto Norte Project (Colombia): Aris Mining completed a Prefeasibility Study (PFS) in September 2025. The company intends to submit an environmental license application to the Autoridad Nacional de Licencias Ambientales (ANLA) in the second quarter of 2026.
• Toroparu Project (Guyana): A Preliminary Economic Assessment (PEA) was completed in October 2025, and a PFS is currently underway with a targeted completion in 2026. A construction decision is anticipated in early 2027.

In the fourth quarter of 2025, Aris Mining used $60 million USD in cash for the acquisition of the remaining 49% interest in the Soto Norte project. Subsequent to the year-end, the company received a $40 million USD installment deposit under its precious metals stream financing after reaching a 50% construction milestone at Marmato.

Aris Mining’s operations are subject to oversight by the Agencia Nacional de Minería (ANM) in Colombia and the Guyana Geology and Mines Commission (GGMC) in Guyana.