ARIS MINING ANNOUNCES UPDATED MINERAL RESOURCE ESTIMATE FOR THE TOROPARU PROJECT IN GUYANA

VANCOUVER, BC, March 14, 2023 /CNW/ - Aris Mining Corporation ("Aris Mining" or the "Company") (TSX: ARIS) (OTCQX: TPRFF) announces an updated mineral resource estimate for the Toroparu Project in Guyana, effective February 10, 2023 (the "2023 MRE"). Aris Mining will file an updated technical report in support of the 2023 MRE within 45 days of this news release.

Neil Woodyer, CEO of Aris Mining, commented: "Following completion of the GCM Mining and Aris Gold merger in September 2022, Aris Mining started a re-evaluation process for the Toroparu Project and reduced the previously planned expenditures until the development plan is fully defined. Today, we are reporting the results of the updated mineral resource estimate which is based on a new detailed structural analysis and updated geological model. The Aris Mining team has confirmed that Toroparu is a large-scale gold-copper deposit with an updated measured and indicated resource estimate of 5.4 million ounces of gold and 118 thousand tonnes of copper, and an inferred resource estimate of 1.2 million ounces of gold.  We are progressing additional studies to update, fully define, and optimize the development plan."

2023 Mineral Resource Estimate Update

Table 1 summarizes the 2023 MRE effective February 10, 2023. The full break down of the 2023 MRE, including estimates related to copper and silver, is provided in Table 2.

Table 1: Summary of the Toroparu 2023 MRE

Table 2: Toroparu Mineral Resources, effective February 10, 2023

Qualified Person and Technical Disclosure

The technical information in this news release was reviewed and approved by Pamela De Mark, P.Geo, Senior Vice President, Technical Services of Aris Mining, who is a Qualified Person as defined by NI 43-101.

About Aris Mining

Aris Mining is a Canadian company led by an executive team with a track record of creating value through building globally relevant mining companies. In Colombia, Aris Mining operates several high-grade underground mines at its Segovia Operations and the Marmato Mine, which together produced 235,000 ounces of gold in 2022. Aris Mining also operates the Soto Norte joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper project. Aris Mining plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.

Aris Mining promotes the formalization of small-scale mining as this process enables all miners to operate in a legal, safe and responsible manner that protects them and the environment.

Additional information on Aris Mining can be found at www.aris-mining.com and www.sedar.com.

Cautionary Language

This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including without limitation statements relating to the results of the 2023 MRE, the nature of the results of the 2023 MRE, the filing of the technical report in support of the 2023 MRE and the timing thereof, and the Company's plans and strategies are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Statements concerning mineral resource estimates may also be deemed to constitute forward looking information to the extent that they involve estimates of the mineralization that will be encountered. The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this presentation.

Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to: changes in national and local government legislation, taxation, controls, regulations and political or economic developments, local environmental and regulatory requirements and delays in obtaining required environmental and other licenses, uncertainties and hazards associated with gold exploration, development and mining, risks associated with tailings management, risks associated with operating in foreign jurisdictions, risks associated with capital cost estimates, dependence of operations on infrastructure, costs associated with the decommissioning of the Company's properties, fluctuations in foreign exchange or interest rates and stock market volatility, operational and technical problems, the ability to maintain good relations with employees and labour unions, competition; reliance on key personnel, litigation risks, uncertainties relating to title to property and mineral resource and mineral reserve estimates, risks associated with acquisitions and integration, risks associated with the Company's ability to meet its financial obligations as they fall due, volatility in the price of gold, or certain other commodities, risks that actual production may be less than estimated, risks associated with servicing indebtedness, additional funding requirements, risks associated with general economic factors, risks associated with secured debt, changes in the accessibility and availability of insurance for mining operations and property, environmental, sustainability and governance practices and performance, risks associated with climate change, risks associated with the reliance on experts outside of Canada, , pandemics, epidemics and public health crises, potential conflicts of interest, uncertainties relating to the enforcement of civil labilities outside of Canada, cyber-security risks, risks associated with operating a joint venture, risks associated with holding derivative instruments, volatility of the share price, the ability to pay dividends in the future, as well as those factors discussed in the section entitled "Risk Factors" in Aris Mining's most recent AIF available on SEDAR at www.sedar.com.

Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/aris-mining-announces-updated-mineral-resource-estimate-for-the-toroparu-project-in-guyana-301772245.html

SOURCE Aris Mining Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/14/c9241.html