SSR Mining Bolsters Nevada Portfolio with $464 Million Acquisition of Roxmore Resources and Converse Gold Project

RENO, NV – October 14, 2026 – In a move set to significantly reshape its North American gold production outlook, SSR Mining has formally announced an agreement to acquire all issued and outstanding shares of Roxmore Resources. The all-cash transaction, valued at approximately $464 million (C$659.05 million) on a fully diluted, in-the-money equity basis, grants SSR Mining complete control of the high-potential Converse gold project. This strategic asset, located in Nevada, is notably situated just 6 kilometers from SSR Mining’s established Marigold Complex along the revered Battle Mountain-Eureka Trend, promising substantial operational synergies and a bolstered production pipeline for the major gold producer.

The acquisition, which excludes the value of a newly formed gold exploration company, SpinCo, is poised to be completed through a court-approved plan of arrangement under British Columbia law. Under the terms of the agreement, Roxmore shareholders are set to receive C$6.75 in cash per share. This represents a robust premium of 27% over Roxmore’s closing share price on October 9, 2026, and an even more compelling 47% premium to its 20-day volume-weighted average price. In addition to the cash consideration, Roxmore shareholders will also receive shares in SpinCo, which will be seeded with $10 million and will hold certain exploration assets previously owned by Roxmore, allowing existing shareholders to retain exposure to early-stage exploration upside.

Strategic Rationale: Consolidating the Battle Mountain-Eureka Trend

The core of this transformative transaction lies in the Converse gold project’s strategic location and its substantial resource endowment. Positioned within Nevada’s globally recognized Battle Mountain-Eureka Trend, the project benefits from its proximity to SSR Mining's long-standing Marigold Complex. This trend is a geological corridor renowned for hosting some of the world's largest and most economically viable gold deposits, making any new, significant discovery within its bounds highly coveted.

Rod Antal, Executive Chairman of SSR Mining, underscored the strategic fit of the acquisition. “The acquisition of Roxmore and its Converse gold project represents a compelling opportunity to add a high-quality multi-million-ounce gold resource next door to our Marigold mine at an attractive valuation,” Antal stated. He further noted the diligent process leading to this decision: “We have been carefully monitoring the progress of the Converse deposit for some time and have conducted a focused due diligence review of the asset.” This proactive approach reflects a broader industry trend of major producers seeking to consolidate proven districts and leverage existing infrastructure to de-risk growth and achieve economies of scale.

Asset Profile: The Converse Gold Project

The Converse gold project represents a significant addition to SSR Mining’s portfolio, boasting an impressive mineral resource estimate from 2026. This estimate outlines a substantial gold inventory, providing a solid foundation for future development and long-term production. Specifically, the project contains:

  • Indicated Resources: 103 million tonnes (mt) grading 0.65 grams per tonne (g/t) of gold, equating to an estimated 2.2 million ounces (moz) of gold.
  • Inferred Resources: 218 mt grading 0.43 g/t of gold, for an additional 3.0 moz of gold.

These figures underscore Converse as a multi-million-ounce gold asset, providing a robust resource base that can significantly extend SSR Mining’s operational life and production profile in Nevada. The substantial inferred resource also offers considerable upside potential for future conversion to indicated and measured categories through ongoing exploration and drilling campaigns.

Operational Synergies and Future Production Outlook

SSR Mining's strategy is to develop Converse as an adjacent operation to its established Marigold Complex. This approach is designed to maximize operational efficiencies, potentially utilizing shared infrastructure, personnel, and expertise, thereby reducing overall capital and operating costs. The integration of Converse is expected to materially enhance SSR Mining’s gold production capacity in the United States.

Once production commences, targeted for 2033, Converse is expected to contribute approximately 150,000 to 170,000 ounces of gold annually to SSR Mining’s U.S. output over more than a decade. This additional production is projected to significantly elevate the company’s overall North American gold profile. Looking further ahead, SSR Mining anticipates that the combined annual production from its three key North American assets – Marigold, Converse, and the Cripple Creek & Victor mine in Colorado – could average between 350,000 and 400,000 ounces per year for the period between 2033 and 2042. This long-term outlook highlights a deliberate strategy to build a sustainable and high-volume production base in premier mining jurisdictions.

The estimated construction capital for developing Converse is in the range of $800 million to $900 million. However, SSR Mining does not anticipate significant expenditure on this front before the early 2030s, allowing for a phased approach to capital allocation and potential optimization of project economics in the intervening years.

Financials, Funding, and Shareholder Value

The $464 million all-cash consideration for Roxmore Resources demonstrates SSR Mining's robust financial position. The company has confirmed that the acquisition will be funded entirely from its current cash reserves, signaling strong balance sheet health and a disciplined approach to capital deployment. This avoids dilution for SSR Mining's existing shareholders and underscores management's confidence in the value proposition of the Converse project.

The premiums offered to Roxmore shareholders – 27% to the closing price on October 9, 2026, and 47% to the 20-day volume-weighted average price – reflect the strategic value SSR Mining places on the Converse asset and its commitment to securing the transaction. The creation of SpinCo, an independently funded gold exploration company with $10 million in capital and retaining certain Roxmore exploration assets, provides a unique benefit to Roxmore shareholders. It allows them to monetize their primary asset at a premium while retaining exposure to the upside potential of earlier-stage exploration assets, aligning interests and facilitating a smoother transaction process.

Completion of the transaction is contingent upon several key approvals, including sanction by at least two-thirds of Roxmore securityholders and formal court approval. Notably, directors, senior executives, and certain major shareholders of Roxmore, collectively representing approximately 26.8% of the outstanding shares on a fully diluted basis, have already committed to vote in favor of the arrangement, providing a strong foundation for shareholder endorsement. The transaction is expected to close in the fourth quarter of 2026.

Regulatory Path and Timelines

The development of a major gold project in the United States, particularly in Nevada, involves a rigorous and often lengthy permitting process. The US Bureau of Land Management (BLM) will play a leading role in overseeing and guiding the permitting for the Converse project. The BLM’s involvement ensures adherence to federal environmental regulations, land use policies, and public engagement requirements. Given the projected production start of 2033, SSR Mining has a substantial lead time to navigate the permitting landscape, conducting comprehensive environmental impact assessments and working collaboratively with regulatory bodies and local stakeholders. This extended timeline, coupled with SSR Mining’s proven track record with its Marigold operation, positions the company well to manage the regulatory challenges inherent in such large-scale developments.

Broader Industry Implications

This acquisition by SSR Mining holds significant implications for the broader gold mining industry, particularly in North America. Firstly, it reaffirms Nevada's status as a top-tier global mining jurisdiction, attracting substantial investment and consolidation activity. The state's favorable geological endowment, established infrastructure, and relatively stable regulatory environment continue to make it an attractive region for gold producers seeking long-term growth.

Secondly, the transaction highlights a strategic preference among major gold miners for brownfield expansion and asset consolidation within proven districts. Acquiring a project like Converse, adjacent to an existing operation, offers advantages over pure greenfield exploration: it reduces geological risk, allows for potential leveraging of existing infrastructure, and often accelerates development timelines compared to starting entirely from scratch. This approach is increasingly favored in a market that prioritizes de-risked growth and capital efficiency.

Finally, the all-cash nature of the deal, funded from current reserves, signals confidence in the gold market and in SSR Mining’s own financial health. In a fluctuating commodity environment, the ability to make such a substantial acquisition without resorting to equity dilution or significant debt demonstrates a strong balance sheet and a clear strategic vision for growth through high-quality assets.

Conclusion: A Long-Term Vision

SSR Mining's acquisition of Roxmore Resources and the Converse gold project is a bold strategic maneuver designed to unlock significant long-term value. By securing a multi-million-ounce gold resource next to its Marigold mine, SSR Mining is positioning itself for sustained production growth and enhanced operational synergies in one of the world's most prolific gold regions. With a clear development pathway, a robust funding strategy, and a commitment to integrating the asset seamlessly into its existing operations, SSR Mining is reinforcing its commitment to its North American portfolio and solidifying its standing as a prominent global gold producer for decades to come.