#Colombia #Aris Mining #Soto Norte #Santander

Positive Prefeasibility Study Results Announced by Aris Mining for Soto Norte Gold Project

Aris Mining Corporation has announced promising findings from the prefeasibility study (PFS) of its Soto Norte Gold Project located in Santander, Colombia. The study highlights Soto Norte as a project with robust economics, low operational costs, and exemplary environmental and social design features. This comes as a significant milestone for Aris Mining as they aim to solidify their position in the rapidly growing gold market in Latin America.

The prefeasibility study confirms that the Soto Norte project, now designed to process 3,500 tonnes per day instead of the formerly proposed 7,000+, strikes an essential balance between mining scale and community involvement. This shift is expected to not only enhance project sustainability but also ensure long-term profitability and environmental stewardship. The company’s commitment to community engagement is evident as they plan to allocate 750 tonnes per day for local miners, providing regulated alternatives to informal gold milling practices, which have been detrimental to local waterways.

Key Highlights of the Prefeasibility Study

• - Significant Minerals: The total measured and indicated mineral resources amount to 39.0 million tonnes at a grade of 5.55 g/t Au, translating to approximately 7 million ounces of gold. The study indicates proven and probable mineral reserves of 20.3 million tonnes at 7.00 g/t Au, equating to roughly 4.6 million ounces of gold.
• - Economic Viability: The report projects an average annual gold production of 263,000 ounces during years two through ten, backed by a base case gold price of $2,600/oz. This supports total payable gold sales of around $10.4 billion. Furthermore, the after-tax net present value (NPV) at a 5% discount rate is projected at $2.7 billion.
• - Initial Capital Costs: The upfront investment required to bring Soto Norte to production is estimated at $625 million, encompassing pre-production expenses, value-added taxes, and contingencies.

Neil Woodyer, CEO of Aris Mining, emphasized the commitment to community participation and environmental safety in his comments. He stated that the project is structured around balancing profitability with local community needs and environmental responsibility. All mine water will undergo treatment to ensure that it can be safely returned to local waterways, thus safeguarding water supplies in Bucaramanga and surrounding areas.

Responsible Development Strategies

Aris Mining plans to boost local employment significantly, projecting the creation of approximately 2,300 construction jobs and around 675 long-term positions once operations commence. Educational programs aimed at empowering women and young adults will also be a part of their community engagement model.
Additionally, the project incorporates advanced water management strategies. It aims to minimize impacts on local water bodies through stringent studies and advanced drilling to seal water-bearing structures prior to mining activities. Designed to recycle nearly 96.5% of its water usage, Soto Norte presents a model for sustainable mining practices while addressing environmental concerns prevalent in the mining sector.

Most notably, the processing facility will innovate by avoiding the use of cyanide and mercury, substances notorious for their hazardous effects on both health and the environment in traditional mining practices. Such operational strategies affirm Aris Mining's dedication to environmentally sound practices and the local community.

Future Directions

With the completion of the prefeasibility study, Aris Mining is now focused on environmental assessments and is preparing to seek an environmental license early in 2026. This step is crucial as Soto Norte aims to emerge as one of the most promising gold mining projects in the Americas, positioned to deliver substantial value to all stakeholders involved.

As the mining sector continues to evolve amid increasing scrutiny over environmental impacts and social responsibility, Aris Mining’s approach will serve as a benchmark for future projects aiming to harmonize operational efficiency with community and ecological well-being. The full prefeasibility study report can be accessed through the company's official website and various financial reporting platforms.

In conclusion, Soto Norte’s favorable PFS outcomes mark a significant leap forward for both Aris Mining and the local communities in Santander, underscoring a commitment to sustainable practices while harnessing the economic potential of gold resources.