# EDGAR Filing Document

**Accession Number:** 0001964504
**File Stem:** 0001279569-25-001165
**Filing Date:** 2025-10
**Character Count:** 55434
**Document Hash:** 62fcd49c17c8934ca0111470e513027c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001279569-25-001165.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001279569-25-001165

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20251029

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251029

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aris Mining Corp
- **CENTRAL INDEX KEY:** 0001964504
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41794
- **FILM NUMBER:** 251431231

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 2400-1021 WEST HASTINGS STREET
- **CITY:** VANCOUVER
- **PROVINCE COUNTRY:** A1
- **ZIP:** V6E 0C3
- **BUSINESS PHONE:** 604-764-5870

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 2400-1021 WEST HASTINGS STREET
- **CITY:** VANCOUVER
- **PROVINCE COUNTRY:** A1
- **ZIP:** V6E 0C3

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION** **<br> Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16<br> UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of October 2025**

**Commission File Number: 001-41794**

**Aris Mining Corporation**<br> (Translation of registrant's name into English)

**Suite 2400 - 1021 West Hastings St., Vancouver, BC, Canada V6E 0C3**

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

<br> Form 20-F [ ] Form 40-F [ X ]

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ARIS MINING CORPORATION** | **ARIS MINING CORPORATION** |
| Date: October 29, 2025 | By: | *(s) Ashley Baker* |
|  |  | Ashley Baker |
|  |  | General Counsel and Corporate Secretary |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| [99.1](ex991.htm) | [Press Release dated October 29, 2025](ex991.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

![](header.jpg)

**Aris Mining Reports Q3 2025 RESULTS**

**Segovia Ramp-Up Driving Profitable Growth:<br> Record Revenue, Cash Flow, and Adjusted Earnings** 

**Vancouver, Canada, October 29, 2025** – Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS; NYSE-A: ARMN) announces its financial and operating results for the three and nine months ended September 30, 2025 (Q3 2025 and 9M 2025). All amounts are in U.S. dollars unless otherwise indicated.

**Q3 2025 Financial Performance** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Revenue of $253.5 million**,
up 27% from Q2 2025 and 93% from Q3 2024, driven by higher gold prices and increased sales volumes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Adjusted EBITDA<sup>1</sup> of $131.1 million,** up 33% from Q2 2025 and triple Q3 2024. On a trailing 12-month basis, Adjusted EBITDA<sup>1</sup> has reached $352.0
million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Adjusted net earnings<sup>1</sup> of $71.8 million or $0.36/share**, up from $0.27/share in Q2 2025 and $0.08/share in Q3 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Cash balance increased to $417.9 million as of September 30, 2025,** up from $310.2 million at June 30, 2025. This increase primarily reflects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o $90.8 million of cash flow
after sustaining capital and income taxes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o $60.5 million of proceeds from
the exercise of ARIS.WT.A warrants (July 2025 expiry); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o $13.2 million of proceeds from
the sale of the Juby Gold Project; partially offset by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o $48.1 million invested in growth
capital.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Net debt reduced to $64 million,** down from $241 million at year-end 2024.

Neil Woodyer, CEO, commented "The production ramp-up at Segovia is progressing well, leading to record financial results and a cash balance of $418 million. This year, we have also delivered two major technical studies – the Soto Norte Prefeasibility Study and the Toroparu Preliminary Economic Assessment. These projects reinforce the strength of our growth pipeline beyond Segovia and Marmato, where construction of the Bulk Mining Zone remains on schedule for first gold in the second half of 2026. With record revenue, cash flow, and earnings in Q3, Aris Mining is financially strong and strategically positioned for continued growth into 2026 and beyond."

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Q3 2025** | **Q2 2025** | **Q1 2025** | **Q3 2024** |
| Gold production ounces (oz), total | **73236** | 58652 | 54763 | 53608 |
| Gold sold (oz), total | **73001** | 61024 | 54281 | 53769 |
| Segovia – AISC, Owner Mining ($/oz sold) | **$1452** | $1520 | $1482 | $1451 |
| Segovia – CMP AISC Sales Margin\* | **44%** | 42% | 41% | 34% |
| EBITDA | **$96.5M** | $31.6M | $39.7M | $27.8M |
| Adjusted EBITDA<sup>1</sup> | **$131.1M** | $98.7M | $66.6M | $43.0M |
| Adjusted EBITDA<sup>1</sup>, last 12 months | **$352.0M** | $264.0M | $201.3M | $145.7M |

---

---

| | |
|:---|:---|
| 1 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Q3 2025** | **Q2 2025** | **Q1 2025** | **Q3 2024** |
| Net earnings (loss)<sup>2</sup> | **$42.0M<sup>3</sup> or<br> $0.21/share** | $(16.9)M<sup>3</sup> or<br> $(0.09)/share | $2.4M or<br> $0.01/share | $(2.1)M or<br> $(0.01)/share |
| Adjusted earnings<sup>1</sup> | **$71.8M or<br> $0.36/share** | $47.8M or<br> $0.27/share | $27.2M or<br> $0.16/share | $13.1M or<br> $0.08/share |
| Adjusted earnings<sup>1</sup>, last 12 months | **$171.5M or<br> $0.95/share** | $112.7M or<br> $0.65/share | $77.7M or<br> $0.46/share | $41.5M or<br> $0.28/share |

---

**Q3 2025 Operational Performance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Gold production totaled 73,236 oz**, a 25% increase from 58,652 oz in Q2 2025. Production has progressively increased following the June 2025 commissioning
of the second mill at Segovia on time and within budget.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Marmato Narrow Vein Zone produced 7,687 oz**, an 8% increase over Q2 2025 and 26% higher than Q3 2024, supported by stable throughput and higher average gold
grades.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Segovia Operations produced 65,549 oz**, supported by gold grades of 9.9 g/t, gold recoveries of 96.1%, and a 31% increase in tonnes milled compared to Q2 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **AISC margin increased to $121.5 million**, up 39% from Q2 2025. On a trailing 12-month basis, AISC margin has reached $327.9 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **Owner-operated Mining AISC was $1,452/oz** compared to $1,520/oz in Q2 2025, bringing the 9M 2025 average to $1,482/oz, tracking toward the lower end of the full
year 2025 guidance range of $1,450/oz to $1,600/oz.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **Contract Mining Partner (CMP) sourced gold delivered an AISC sales margin of 44%**, contributing to a 43% margin for 9M 2025, which is above the full-year 2025
guidance range of 35% to 40%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o **Total AISC of $1,641/oz** compared to $1,681/oz in Q2 2025, reflecting per ounce cost improvements primarily due to increased gold sales volumes.

&nbsp;&nbsp; **Figure 1: Strong AISC Margin Growth ($ million) – Segovia**<br> ![](figure_1.jpg)<br>

---

| | |
|:---|:---|
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

&nbsp;&nbsp; **Figure 2: Total AISC and Realized Gold Price Trends ($/oz) – Segovia** <br>

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Total Segovia Operating Information** | &nbsp;&nbsp;**Q3 2025** | &nbsp;&nbsp;**Q2 2025** | &nbsp;&nbsp;**Q3 2024** |
| &nbsp;&nbsp;Average realized gold price ($/oz sold) | &nbsp;&nbsp;**$3494** | &nbsp;&nbsp;$3303 | &nbsp;&nbsp;$2457 |
| &nbsp;&nbsp;Tonnes milled (t) | &nbsp;&nbsp;**219550** | &nbsp;&nbsp;167960 | &nbsp;&nbsp;166868 |
| &nbsp;&nbsp;Average tonnes milled per day (tpd) | &nbsp;&nbsp;**2553** | &nbsp;&nbsp;1976 | &nbsp;&nbsp;1940 |
| &nbsp;&nbsp;Average gold grade processed (g/t) | &nbsp;&nbsp;**9.87** | &nbsp;&nbsp;9.85 | &nbsp;&nbsp;9.23 |
| &nbsp;&nbsp;Gold produced (oz) | &nbsp;&nbsp;**65549** | &nbsp;&nbsp;51527 | &nbsp;&nbsp;47493 |
| &nbsp;&nbsp;Gold sold (oz) | &nbsp;&nbsp;**65580** | &nbsp;&nbsp;53751 | &nbsp;&nbsp;48059 |
| &nbsp;&nbsp;AISC margin ($M) | &nbsp;&nbsp;**121.5** | &nbsp;&nbsp;87.2 | &nbsp;&nbsp;44.1 |
| &nbsp;&nbsp;**Segovia Operating Information by Segment** | &nbsp;&nbsp;**Q3 2025** | &nbsp;&nbsp;**Q2 2025** | &nbsp;&nbsp;**Q3 2024** |
| &nbsp;&nbsp;**Owner Mining** |  |  |  |
| &nbsp;&nbsp;Gold sold (oz) | &nbsp;&nbsp;**40984** | &nbsp;&nbsp; 32685 | &nbsp;&nbsp;22952 |
| &nbsp;&nbsp;Cash costs – ($/oz sold) | &nbsp;&nbsp;**$999** | &nbsp;&nbsp; $1047 | &nbsp;&nbsp;$1081 |
| &nbsp;&nbsp;AISC – ($/oz sold) | &nbsp;&nbsp;**$1452** | &nbsp;&nbsp; $1520 | &nbsp;&nbsp;$1451 |
| &nbsp;&nbsp;AISC margin ($M) | &nbsp;&nbsp;**83.1** | &nbsp;&nbsp;57.8 | &nbsp;&nbsp;23.1 |
| &nbsp;&nbsp;**CMPs** |  |  |  |
| &nbsp;&nbsp;Gold sold (oz) | &nbsp;&nbsp;**24596** | &nbsp;&nbsp; 21066 | &nbsp;&nbsp;25107 |
| &nbsp;&nbsp;Cash costs – ($/oz sold) | &nbsp;&nbsp;**$1653** | &nbsp;&nbsp; $1622 | &nbsp;&nbsp;$1417 |
| &nbsp;&nbsp;AISC – ($/oz sold) | &nbsp;&nbsp;**$1955** | &nbsp;&nbsp; $1931 | &nbsp;&nbsp;$1622 |
| &nbsp;&nbsp;AISC sales margin (%) | &nbsp;&nbsp;**44%** | &nbsp;&nbsp;42% | &nbsp;&nbsp; 34% |
| &nbsp;&nbsp;AISC margin ($M) | &nbsp;&nbsp;**38.4** | &nbsp;&nbsp; 29.4 | &nbsp;&nbsp;21.0 |

---

&nbsp;&nbsp;<sup>\*</sup> Aris Mining operates its own mines and contracts with community-based mining partners, referred to as Contract Mining Partners (CMPs), to increase total gold production. Some partners work within Aris Mining's infrastructure, while others manage their own mining operations on Aris Mining's titles using their own infrastructure. In addition, Aris Mining purchases high grade mill feed from third-party contractors operating off-title, which further optimizes production and increases operating margins.

---

| | |
|:---|:---|
| 3 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Corporate and Project Development Highlights** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Strong cash generation funding growth:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Operations generated $90.8
million in cash flow after sustaining capital and income taxes in Q3 2025, fully funding all growth and expansion initiatives. After expansion
capital, Aris Mining generated $42.6 million in net cash flow. See the Quarterly cash-flow summary in the following sections for additional
cash flow analysis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Marmato Bulk Mining Zone construction advancing:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Development of the main access
decline has advanced 580 metres of the planned 1.7 kilometres. Current development rates average 72 metres per month and are expected
to increase to approximately 150 metres per month once beyond the fault zone, with completion of the full decline length targeted for
August 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The Los Indios crosscut is
advancing toward its connection with the main decline, now approximately 320 metres away. This horizontal development will provide an
additional access and ventilation pathway, enable ore and waste haulage between existing workings and new infrastructure. Importantly,
completion of the crosscut will enhance operational flexibility and de-risk the project's ramp-up phase by allowing multiple access
points for early development and production sequencing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Surface construction activities
continue to advance safely, with over 2.06 million workhours completed to date. Bulk earthworks for the process plant platform have reached
95% completion (294,000 m³ moved), and the retaining wall is over 75% complete. Final shaping of the carbon-in-pulp (CIP) plant platforms
is expected during the first week of November 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Major equipment, including
the primary crusher, SAG mill, ball mill, and filter press, has arrived in Cartagena. Approximately 95% of long-lead items have been ordered.
The contract for the main civil, mechanical, and electrical works is in place, with the contractor mobilized and construction activities
commenced in October.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Preparations for the new powerline
continue to advance. Land acquisition is complete, and the environmental impact study has been submitted for approval, enabling construction
to commence in March 2026 following permit issuance. To ensure continuity of commissioning and early operations, back-up generators are
included in the site power plan to mitigate any potential delays in the grid power connection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o During Q2 and Q3 2025, we invested
$20.1 million and $23.9 million, respectively, toward the construction budget.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o At the end of Q3, the estimate
to complete the project was $250 million, reflecting approximately $40 million of progress made over the six-month period since the prior
estimate of $290 million at the end of Q1, which had incorporated the scope increase from 4,000 to 5,000 tpd.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Net of the remaining $82 million
of stream financing payments to be received from Wheaton Precious Metals, the construction funding requirement is approximately $168 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The project remains on schedule,
with first gold in H2 2026, followed by a production ramp-up period to steady-state operations

---

| | |
|:---|:---|
| 4 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Soto Norte Project (51% owned, Colombia)**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Prefeasibility
 Study (PFS) (<u>https://aris-mining.com/news/aris-mining-announces-positive-prefeasibility-stud-10966/</u>)
 completed in September 2025, demonstrating robust economics with, on a 100% basis, after-tax
 NPV<sub>5%</sub> of $2.7 billion, IRR of 35%, and 2.3-year payback at $2,600/oz gold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Strong leverage to higher gold prices, at $3,000/oz the NPV<sub>5%</sub> increases to $3.3 billion with IRR of 40.0%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The PFS highlights industry-leading
environmental design features and integration of local community miners – 750 tpd (over 20% of 3,500 tpd capacity) has been dedicated
to local contract mining partners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Aris Mining is advancing the
required studies to apply for an environmental license in H1 2026 for the development of Soto Norte.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Toroparu Project (100% owned, Guyana):** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Preliminary
 Economic Assessment (PEA) (<u>https://aris-mining.com/news/aris-mining-announces-positive-pea-results-for-the-11614/</u>)
 completed in October 2025, outlining another robust project with after-tax NPV<sub>5%</sub>
 of $1.8 billion, IRR of 25.2%, and 3.0-year payback at $3,000/oz gold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Aris Mining has initiated a
PFS, targeted for completion in 2026, to advance Toroparu toward construction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· **Juby Gold Project Sale**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Closed in September 2025 for
a total consideration of $22 million, streamlining our portfolio to focus on our core operations and projects in South America.

**Endnotes**

1 All references to adjusted earnings, EBITDA, adjusted EBITDA, growth capital investment, cash flow after sustaining capital and income taxes, cash costs and AISC are non-GAAP financial measures in this document. These measures are intended to provide additional information to investors. They do not have any standardized meanings under IFRS, and therefore may not be comparable to other issuers and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Refer to the Non-GAAP Measures section in this document for a reconciliation of these measures to the most directly comparable financial measure disclosed in the Company's financial statements.

2 Net earnings represents net earnings attributable to owners of the company, as presented in the annual and interim financial statements for the relevant period.

3 A $45.5 million non-cash loss was recognized in Q2 2025 from fair value adjustments to the Company's warrant liability, valued at $40.8 million as of June 30, 2025. The fair value of the liability is directly correlated to the Company's share price, which increased by 38% during Q2 2025 (year-to-date: 82% increase). In July 2025, the Company received an additional $60.5 million in cash proceeds from exercises of these warrants. With these exercises and the July 29, 2025 expiry of the remaining outstanding warrants, the liability has been fully extinguished, removing a source of non-cash earnings volatility from future results.

---

| | |
|:---|:---|
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Q3 2025 Conference Call Details** 

Management will host a conference call on Thursday, October 30, 2025, at 9:00 a.m. New York / 6:00 a.m. Vancouver / 2:00 p.m. London / 3:00 p.m. Paris to discuss the results.

Participants may gain expedited access to the conference call by registering at Diamond Pass Registration (<u>https://dpregister.com/DiamondPassRegistration/register?confirmationNumber=10202969&linkSecurityString=ffea2c7c50</u>) . Once registered, call-in details will be displayed on screen which can be used to bypass the operator and avoid the call queue. Registration will remain open until the end of the live conference call.

**Webcast** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Link: Webcast \| Q3 2025 Conference Call (<u>https://event.choruscall.com/mediaframe/webcast.html?webcastid=AEpmA2Ft</u>)

**Conference Call**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Toll-free North America: +1-833-821-0197

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· International: +1-647-846-2328

**Audio Recording**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· After the call, an audio recording will be available via telephone until end of day November 5, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Toll-free in the US and Canada: +1-855-669-9658

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· International: +1-412-317-0088; and using the access code: 2585542

A replay of the event will be archived at Events & Presentations - Aris Mining Corporation (<u>https://aris-mining.com/investors/events-presentations/</u>).

Aris Mining's Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2025 and 2024 and related MD&A are available on SEDAR+, in the Company's filings with the U.S. Securities and Exchange Commission (the SEC) and in the Financials section of Aris Mining's website here. Hard copies of the financial statements are available free of charge upon written request to <u>info@aris-mining.com</u>.

**About Aris Mining**

Founded in September 2022, Aris Mining was established with a vision to build a leading South America-focused gold mining company. Our strategy blends current production and cashflow generation with transformational growth driven by expansions of our operating assets, exploration and development projects. Aris Mining intends to unlock value through scale and diversification. The Company is listed on the TSX (ARIS) and the NYSE-A (ARMN) and is led by an experienced team with a track record of value creation, operational excellence, financial discipline and good corporate governance in the gold mining industry.

Aris Mining operates two underground gold mines in Colombia: the Segovia Operations and the Marmato Complex, which together produced 210,955 ounces of gold in 2024. With expansions underway, Aris Mining is targeting an annual production rate of more than 500,000 ounces of gold, following the commissioning of the second mill at Segovia, completed in June and ramping up during H2 2025, and the construction of the Bulk Mining Zone at the Marmato Complex, expected to start ramping up production in H2 2026. In addition, Aris Mining operates the 51% owned Soto Norte joint venture, where a PFS study is complete on a new, smaller scale development plan which confirms Soto Norte as a high-quality, long-life project with robust economics and industry-leading environmental and social design features. In Guyana, Aris Mining owns the Toroparu gold/copper project, where a new Preliminary Economic Assessment (PEA) is complete and a Prefeasibility Study is underway.

Colombia is rich in high-grade gold deposits and Aris Mining is actively pursuing partnerships with the Country's dynamic small-scale mining sector. With these partnerships, we enable safe, legal, and environmentally responsible operations that benefit both local communities and the industry.

---

| | |
|:---|:---|
| 6 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

Additional information on Aris Mining can be found at <u>www.aris-mining.com</u>, <u>www.sedarplus.ca</u>, and on <u>www.sec.gov</u>.

**Aris Mining Contact**

Oliver Dachsel Senior Vice President, Capital Markets +1.917.847.0063 Lillian Chow Director, Investor Relations & Communications <u>info@aris-mining.com</u>

**Cautionary Language** 

***Non-GAAP Measures***

EBITDA, adjusted EBITDA, adjusted earnings, cash cost, growth and expansion expenditures, cash flow after sustaining capital and income tax and AISC are non-GAAP financial measures. These financial measures do not have any standardized meaning prescribed under IFRS or by Generally Accepted Accounting Principles (GAAP) in the United States, and therefore may not be comparable to other issuers. For full details on these measures refer to the "Non-GAAP Financial Measures" sections of the Company's Management's Discussion and Analysis for the three and six months ended June 30, 2025 and 2024 and years ended December 31, 2024 and 2023 (MD&As). The MD&As are incorporated by reference into this news release and are available at <u>www.aris-mining.com</u>, on the Company's profile on SEDAR+ at <u>www.sedarplus.ca</u> and in its filings with the SEC at <u>www.sec.gov</u>.

The tables below reconcile the non-GAAP financial measures contained in this news release for the current and comparative periods to the most directly comparable financial measure disclosed in the Company's interim financial statements for the three and six months ended June 30, 2025 and 2024; the three months ended March 31, 2025 and 2024, and Company's annual financial statements for the three months and years ended December 31, 2024 and 2023.

---

| | |
|:---|:---|
| 7 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Quarterly cash-flow summary<sup>1</sup>**

---

| | | | |
|:---|:---|:---|:---|
| **($000's)** | **Q3 2025** | **Q2 2025** | **Q1 2025** |
| **Gold revenue<sup>2</sup>** | 253456 | 200231 | 154142 |
| Total cash cost | (98946) | (83166) | (72730) |
| Royalties<sup>2</sup> | (10087) | (7583) | (6359) |
| Social contributions<sup>2</sup> | (8224) | (5562) | (4334) |
| Sustaining capital | (12210) | (12710) | (7069) |
| All in sustaining cost (AISC) | (129467) | (109021) | (90492) |
| **AISC margin** | 123989 | 91210 | 63650 |
| &nbsp;&nbsp;Taxes paid<sup>2</sup> | (13228) | (42244) | (5121) |
| &nbsp;&nbsp;General and administration expense<sup>2</sup> | (5130) | (5187) | (4106) |
| &nbsp;&nbsp;Decrease (increase) in VAT receivable | (16023) | 30813 | (11761) |
| &nbsp;&nbsp;Other changes in working capital | (289) | (1718) | (11685) |
| &nbsp;&nbsp;Impact of foreign exchange losses on cash balances<sup>2</sup> | 1450 | 925 | 768 |
| **After-tax adjusted sustaining margin** | 90769 | 73799 | 31745 |
| **Expansion and growth capital expenditure** |  |  |  |
| &nbsp;&nbsp;&nbsp;Segovia Operations | (9618) | (6930) | (6368) |
| &nbsp;&nbsp;&nbsp;Marmato Bulk Mining Zone | (31369) | (23628) | (29661) |
| &nbsp;&nbsp;&nbsp;Toroparu Project | (3270) | (2741) | (2411) |
| &nbsp;&nbsp;&nbsp;Soto Norte Project & other | (3879) | (3446) | (4570) |
| **Total expansion and growth capital** | (48136) | (36745) | (43010) |
| **Financing and other costs** |  |  |  |
| &nbsp;&nbsp;Proceeds from warrant and option exercises <sup>2</sup> | 59805 | 57670 | 5197 |
| &nbsp;&nbsp;Proceeds from disposition of Juby Project | 13065 | **—** |  |
| &nbsp;&nbsp;Principal repayment of Gold Notes <sup>2</sup> | (4064) | (4063) | (3941) |
| &nbsp;&nbsp;Capitalized interest paid<sup>2</sup> | (6159) | (5802) | (5031) |
| &nbsp;&nbsp;Interest (paid)<sup>2</sup> | **—** | (18000) |  |
| &nbsp;&nbsp;Finance income<sup>2</sup> | 2437 | 3474 | 2336 |
| **Total financing and other costs** | 65084 | 33279 | (1439) |
| **Net change in cash<sup>2</sup>** | 107717 | 70333 | (12704) |
| Opening cash balance at beginning of period<sup>2</sup> | 310164 | 239831 | 252535 |
| Closing cash balance at end of period<sup>2</sup> | 417881 | 310164 | 239831 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.* This Quarterly Cash Flow Summary is comprised of certain
non-GAAP financial measures. Refer to the Non-GAAP Financial Measures section of this news release for further information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2.* As presented in the Financial Statements and notes for the respective periods.

---

| | |
|:---|:---|
| 8 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Segovia AISC Margin** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**($000s except per ounce, and ounce amounts)** | **Q3 2025** | **Q2 2025** | **Q1 2025** | **Q4 2024** | **Q3 2024** | **Q2 2024** |
| &nbsp;&nbsp;Gold produced (ounces) | **65549** | 51527 | 47549 | 51477 | 47493 | 43705 |
| &nbsp;&nbsp;Gold sold (ounces) | **65580** | 53751 | 47390 | 50409 | 48059 | 43366 |
| &nbsp;&nbsp;**Financial Information** |  |  |  |  |  |  |
| &nbsp;&nbsp;Gold revenue ($'000s) | **229116** | 177551 | 135310 | 133159 | 118075 | 100302 |
| &nbsp;&nbsp;Average realized gold price ($/ounce sold) | **3494** | 3303 | 2855 | 2642 | 2457 | 2313 |
| &nbsp;&nbsp;Owner Mining costs | **26012** | 23228 | 19291 | 18845 | 15780 | 17187 |
| &nbsp;&nbsp;CMP material purchases | **37268** | 29157 | 26656 | 29461 | 31373 | 28867 |
| &nbsp;&nbsp;Processing costs | **9357** | 7412 | 7430 | 6879 | 6985 | 6536 |
| &nbsp;&nbsp;Administration and security costs | **12011** | 10422 | 10124 | 11656 | 7796 | 8120 |
| &nbsp;&nbsp;Change in finished goods and stockpile inventory | **1069** | 961 | (929) | (4070) | 1130 | (1306) |
| &nbsp;&nbsp;By-product and concentrate revenue | **(4116)** | (2798) | (3073) | (2308) | (2665) | (2862) |
| Total cash costs | **81601** | 68382 | 59499 | 60463 | 60399 | 56342 |
| **Cash cost per ounce sold** | $***1244*** | $*1272* | $*1256* | $*1199* | $*1257* | $*1299* |
| &nbsp;&nbsp;Royalties | **7532** | 5539 | 4519 | 4342 | 3506 | 3078 |
| &nbsp;&nbsp;Social contributions | **7787** | 5177 | 4061 | 4063 | 4294 | 2120 |
| &nbsp;&nbsp;Sustaining capital | **10334** | 10861 | 5856 | 5426 | 5423 | 6224 |
| &nbsp;&nbsp;Sustaining lease payments | **352** | 423 | 480 | 567 | 389 | 364 |
| All-in sustaining costs | **107606** | 90382 | 74415 | 74861 | 74011 | 68128 |
| &nbsp;&nbsp;**All-in sustaining cost per ounce sold (Combined)** | $***1641*** | $*1681* | $*1570* | $*1485* | $*1540* | $*1571* |
| **AISC Margin** | **121510** | 87169 | 60895 | 58298 | 44064 | 32174 |

---

---

| | |
|:---|:---|
| 9 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Cash costs per ounce** 

*Reconciliation of total cash costs by business unit at Segovia and Marmato to the cash costs as disclosed above.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended June 30, 2025** | **Three months ended June 30, 2025** | **Three months ended June 30, 2025** |
| <br>**($000s except per ounce amounts)** | **Segovia** | **Marmato** | **Total** | **Segovia** | **Marmato** | **Total** |
| Total gold sold (ounces) | 65580 | 7421 | 73001 | 53751 | 7273 | 61024 |
| Cost of sales<sup>1</sup> | 93249 | 20443 | 113692 | 76719 | 17255 | 93974 |
| Less: royalties<sup>1</sup> | (7532) | (2555) | (10087) | (5539) | (2044) | (7583) |
| Add: by-product revenue<sup>1</sup> | (4116) | (543) | (4659) | (2798) | (427) | (3225) |
| **Total cash costs** | **81601** | **17345** | **98946** | **68382** | **14784** | **83166** |
| **Total cash costs ($ per oz gold sold)** | **1244** |  |  | **1272** |  |  |
| **Total cash costs including royalties** | **89133** |  |  | **73921** |  |  |
| **Total cash costs including royalties ($ per oz gold sold)** | **1359** |  |  | **1375** |  |  |
|  | **Three months ended March 31, 2025** | **Three months ended March 31, 2025** | **Three months ended March 31, 2025** | **Three months ended Sept 30, 2024** | **Three months ended Sept 30, 2024** | **Three months ended Sept 30, 2024** |
| **($000s except per ounce amounts)** | **Segovia** | **Marmato** | **Total** | **Segovia** | **Marmato** | **Total** |
| Total gold sold (ounces) | 47390 | 6891 | 54281 | 48059 | 5710 | 53769 |
| Cost of sales<sup>1</sup> | 67091 | 15384 | 82475 | 66570 | 16673 | 83243 |
| Less: royalties<sup>1</sup> | (4519) | (1840) | (6359) | (3506) | (1343) | (4849) |
| Add: by-product revenue<sup>1</sup> | (3073) | (313) | (3386) | (2665) | (613) | (3278) |
| **Total cash costs** | **59499** | **13231** | **72730** | **60399** | **14717** | **75116** |
| **Total cash costs ($ per oz gold sold)** | **1256** |  |  | **1257** |  |  |
| **Total cash costs including royalties** | **64018** |  |  | **63905** |  |  |
| **Total cash costs including royalties ($ per oz gold sold)** | **1351** |  |  | **1330** |  |  |
| 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. | 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. | 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. | 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. | 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. | 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. | 1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods. |

---

---

| | |
|:---|:---|
| 10 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Cash costs per ounce – Business Units (Segovia)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended June 30, 2025** | **Three months ended June 30, 2025** | **Three months ended June 30, 2025** |
| <br>**($000s except per ounce amounts)** | **Owner** | **CMPs** | **Total** | **Owner** | **CMPs** | **Total** |
| Total gold sold (ounces) | 40984 | 24596 | 65580 | 32685 | 21066 | 53751 |
| Cost of sales<sup>1</sup> | 48502 | 44747 | 93249 | 39532 | 37187 | 76719 |
| Less: royalties<sup>1</sup> | (5000) | (2532) | (7532) | (3605) | (1934) | (5539) |
| Add: by-product revenue<sup>1</sup> | (2566) | (1550) | (4116) | (1714) | (1084) | (2798) |
| **Total cash costs** | **40936** | **40665** | **81601** | **34213** | **34169** | **68382** |
| **Total cash costs ($ per oz gold sold)** | **999** | **1653** | **1244** | **1047** | **1622** | **1272** |
|  | **Three months ended March 31, 2025** | **Three months ended March 31, 2025** | **Three months ended March 31, 2025** | **Three months ended Sept 30, 2024** | **Three months ended Sept 30, 2024** | **Three months ended Sept 30, 2024** |
| **($000s except per ounce amounts)** | **Owner** | **CMPs** | **Total** | **Owner** | **CMPs** | **Total** |
| Total gold sold (ounces) | 26963 | 20427 | 47390 | 22952 | 25107 | 48059 |
| Cost of sales<sup>1</sup> | 34799 | 32292 | 67091 | 28819 | 37751 | 66570 |
| Less: royalties<sup>1</sup> | (2783) | (1736) | (4519) | (1999) | (1507) | (3506) |
| Add: by-product revenue<sup>1</sup> | (1748) | (1325) | (3073) | (2000) | (665) | (2665) |
| **Total cash costs** | **30268** | **29231** | **59499** | **24820** | **35579** | **60399** |
| **Total cash costs ($ per oz gold sold)** | **1123** | **1431** | **1256** | **1081** | **1417** | **1257** |

---

1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods.

---

| | |
|:---|:---|
| 11 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**All-in sustaining costs (AISC)**

*Reconciliation of total AISC by business unit at Segovia and Marmato to the AISC as disclosed above.* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended June 30, 2025** | **Three months ended June 30, 2025** | **Three months ended June 30, 2025** |
| <br>**($000s except per ounce amounts)** | **Segovia** | **Marmato** | **Total** | **Segovia** | **Marmato** | **Total** |
| Total gold sold (ounces) | 65580 | 7421 | 73001 | 53751 | 7273 | 61024 |
| Total cash costs | 81601 | 17345 | 98946 | 68382 | 14784 | 83166 |
| Add: royalties<sup>1</sup> | 7532 | 2555 | 10087 | 5539 | 2044 | 7583 |
| Add: social programs<sup>1</sup> | 7787 | 437 | 8224 | 5177 | 385 | 5562 |
| Add: sustaining capital expenditures | 10334 | 1524 | 11858 | 10861 | 1426 | 12287 |
| Add: lease payments on sustaining capital | 352 |  | 352 | 423 |  | 423 |
| **Total AISC** | **107606** | **21861** | **129467** | **90382** | **18639** | **109021** |
| **Total AISC ($ per oz gold sold)** | **1641** |  |  | **1681** |  |  |
|  | **Three months ended Mar 31, 2025** | **Three months ended Mar 31, 2025** | **Three months ended Mar 31, 2025** | **Three months ended Sept 30, 2024** | **Three months ended Sept 30, 2024** | **Three months ended Sept 30, 2024** |
| **($000s except per ounce amounts)** | **Segovia** | **Marmato** | **Total** | **Segovia** | **Marmato** | **Total** |
| Total gold sold (ounces) | 47390 | 6891 | 54281 | 48059 | 5710 | 53769 |
| Total cash costs | 59499 | 13231 | 72730 | 60399 | 14717 | 75116 |
| Add: royalties<sup>1</sup> | 4519 | 1840 | 6359 | 3506 | 1343 | 4849 |
| Add: social programs<sup>1</sup> | 4061 | 273 | 4334 | 4294 | 185 | 4479 |
| Add: sustaining capital expenditures | 5856 | 733 | 6589 | 5423 | 938 | 6361 |
| Add: lease payments on sustaining capital | 480 |  | 480 | 389 |  | 389 |
| **Total AISC** | **74415** | **16077** | **90492** | **74011** | **17183** | **91194** |
| **Total AISC ($ per oz gold sold)** | **1570** |  |  | **1540** |  |  |

---

1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods.

 

 

 

 

 

---

| | |
|:---|:---|
| 12 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

 

**All-in sustaining costs (AISC) – Segovia by Business Unit**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended Sept 30, 2025** | **Three months ended Jun 30, 2025** | **Three months ended Jun 30, 2025** | **Three months ended Jun 30, 2025** |
| <br>**($000s except per ounce amounts)** | **Owner** | **CMPs** | **Total** | **Owner** | **CMPs** | **Total** |
| Total gold sold (ounces) | 40984 | 24596 | 65580 | 32685 | 21066 | 53751 |
| Total cash costs | 40936 | 40665 | 81601 | 34213 | 34169 | 68382 |
| Add: royalties<sup>1</sup> | 5000 | 2532 | 7532 | 3605 | 1934 | 5539 |
| Add: social programs<sup>1</sup> | 5155 | 2632 | 7787 | 3366 | 1811 | 5177 |
| Add: sustaining capital expenditures | 8078 | 2256 | 10334 | 8088 | 2773 | 10861 |
| Add: lease payments on sustaining capital | 352 |  | 352 | 423 |  | 423 |
| **Total AISC** | **59521** | **48085** | **107606** | **49695** | **40687** | **90382** |
| **Total AISC ($ per oz gold sold)** | **1452** | **1955** | **1641** | **1520** | **1931** | **1681** |
|  | **Three months ended Mar 31, 2025** | **Three months ended Mar 31, 2025** | **Three months ended Mar 31, 2025** | **Three months ended Dec 31, 2024** | **Three months ended Dec 31, 2024** | **Three months ended Dec 31, 2024** |
| **($000s except per ounce amounts)** | **Owner** | **CMPs** | **Owner** | **Owner** | **CMPs** | **Total** |
| Total gold sold (ounces) | 26963 | 20427 | 47390 | 28149 | 22260 | 50409 |
| Total cash costs | 30268 | 29231 | 59499 | 29320 | 31143 | 60463 |
| Add: royalties<sup>1</sup> | 2783 | 1736 | 4519 | 2754 | 1588 | 4342 |
| Add: social programs<sup>1</sup> | 2501 | 1560 | 4061 | 2558 | 1505 | 4063 |
| Add: sustaining capital expenditures | 3917 | 1939 | 5856 | 3819 | 1607 | 5426 |
| Add: lease payments on sustaining capital | 480 |  | 480 | 567 |  | 567 |
| **Total AISC** | **39949** | **34466** | **74415** | **39018** | **35843** | **74861** |
| **Total AISC ($ per oz gold sold)** | **1482** | **1687** | **1570** | **1386** | **1610** | **1485** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** | **Three months ended September 30, 2024** | **Three months ended June 30, 2024** | **Three months ended June 30, 2024** | **Three months ended June 30, 2024** |
| <br>**($000s except per ounce amounts)** | **Owner** | **CMPs** | **Owner** | **Owner** | **CMPs** | **Total** |
| Total gold sold (ounces) | 22952 | 25107 | 48059 | 20183 | 23183 | 43366 |
| Total cash costs | 24820 | 35579 | 60399 | 24660 | 31682 | 56342 |
| Add: royalties<sup>1</sup> | 1999 | 1507 | 3506 | 1720 | 1358 | 3078 |
| Add: social programs<sup>1</sup> | 2449 | 1845 | 4294 | 1185 | 935 | 2120 |
| Add: sustaining capital expenditures | 3640 | 1783 | 5423 | 4677 | 1547 | 6224 |
| Add: lease payments on sustaining capital | 389 |  | 389 | 364 |  | 364 |
| **Total AISC** | **33297** | **40714** | **74011** | **32606** | **35522** | **68128** |
| **Total AISC ($ per oz gold sold)** | **1451** | **1622** | **1540** | **1616** | **1532** | **1571** |

---

1 As presented in the Annual and Interim Financial Statements and notes thereto for the respective periods.

 

 

 

---

| | |
|:---|:---|
| 13 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

 

**Additions to mineral interests, plant and equipment**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **($'000)** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Sep 30, 2024** |
| **Sustaining capital** |  |  |  |  |
| &nbsp;&nbsp;Segovia Operations | **10334** | **10861** | 5856 | 5423 |
| &nbsp;&nbsp;Marmato Narrow Vein Zone | **1524** | **1426** | 733 | 938 |
| &nbsp;&nbsp;**Total Sustaining Capital** | **11858** | **12287** | 6589 | 6361 |
| **Non-sustaining capital** |  |  |  |  |
| &nbsp;&nbsp;Marmato Bulk Mining Zone | **31369** | **23628** | 29661 | 18135 |
| &nbsp;&nbsp;Segovia Operations | **9618** | **6930** | 6368 | 16962 |
| &nbsp;&nbsp;Soto Norte Project and Other | **3879** | **3446** | 4570 | 5034 |
| &nbsp;&nbsp;Marmato Narrow Vein Zone |  |  |  | 2965 |
| &nbsp;&nbsp;Toroparu Project | **3270** | **2741** | 2411 | 1970 |
| &nbsp;&nbsp;**Total (Growth Capital Investment)** | **48136** | **36745** | 43010 | 45066 |
| **Additions to mining interest, plant and equipment<sup>1</sup>** | **59994** | **49032** | 49599 | 51427 |

---

1 As presented in the Annual and Interim Financial Statements and notes for the respective periods.

**Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **($000s)** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** |
| **Earnings (loss) before tax<sup>1</sup>** | **76094** | **12258** | **21220** | **37513** |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and depletion<sup>1</sup> | 13459 | 11929 | 10734 | 9530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance income<sup>1</sup> | (2437) | (3474) | (2336) | (1606) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and accretion<sup>1</sup> | 9390 | 10833 | 10037 | 21165 |
| **EBITDA** | **96506** | **31546** | **39655** | **66602** |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation<sup>1</sup> | 9497 | 8136 | 3784 | (483) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity accounting in investee<sup>1</sup> |  |  | 14 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on financial instruments<sup>1</sup> | 6385 | 50737 | 16628 | (6561) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on disposal of mining interest and PPE<sup>1</sup> | 3200 |  |  |  |
| &nbsp;&nbsp;Other (income) expense<sup>1</sup> | 1961 | 1090 | 535 | 1116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange (gain) loss<sup>1</sup> | 13520 | 7224 | 5997 | (5113) |
| **Adjusted EBITDA** | **131069** | **98733** | **66613** | **55575** |

---

1 As presented in the Annual and Interim Financial Statements and notes for the respective periods.

---

| | |
|:---|:---|
| 14 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **($000s)** | **Sep 30, 2024** | **Jun 30, 2024** | **Mar 31, 2024** | **Dec 31, 2023** |
| **Earnings (loss) before tax<sup>1</sup>** | **13603** | **17904** | **10310** | **7963** |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and depletion<sup>1</sup> | 9019 | 8082 | 7519 | 7535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance income<sup>1</sup> | (1351) | (1691) | (2246) | (2580) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and accretion<sup>1</sup> | 6493 | 6496 | 6803 | 6772 |
| **EBITDA** | **27764** | **30791** | **22386** | **19690** |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation<sup>1</sup> | 2533 | 1373 | 1842 | 2977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revaluation of investments (Denarius/Aris) |  |  |  | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity accounting in investee<sup>1</sup> | 17 | 2301 | 551 | (3667) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on financial instruments<sup>1</sup> | 12842 | 6144 | 3742 | 13429 |
| &nbsp;&nbsp;Other (income) expense<sup>1</sup> | (428) | 2681 |  | (1442) |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange (gain) loss<sup>1</sup> | 311 | (7211) | (108) | 6685 |
| **Adjusted EBITDA** | **43039** | **36079** | **28413** | **38208** |

---

1 As presented in the Annual and Interim Financial Statements and notes for the respective periods.

**Adjusted net earnings and adjusted net earnings per share**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **($000s except shares amount)** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** |
| Basic weighted average shares outstanding | **199171052** | **179836208** | **171622649** | **170900890** |
| Net earnings (loss)<sup>1</sup> | 42011 | (16897) | 2368 | 21687 |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation<sup>1</sup> | 9497 | 8136 | 3784 | (483) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity accounting in investee<sup>1</sup> |  |  | 14 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on financial instruments<sup>1</sup> | 6385 | 50737 | 16628 | (6561) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on disposal of mining interest and PPE<sup>1</sup> | 3200 |  |  |  |
| &nbsp;&nbsp;Other (income) expense<sup>1</sup> | 1961 | 1090 | 535 | 1116 |
| &nbsp;&nbsp;Loss on extinguishment of Senior Notes |  |  |  | 11463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange (gain) loss<sup>1</sup> | 13520 | 7224 | 5997 | (5113) |
| Income tax effect on adjustments | (4732) | (2528) | (2099) | 2536 |
| **Adjusted net (loss) / earnings** | **71842** | **47762** | **27227** | **24659** |
| &nbsp;&nbsp;Per share – basic ($/share) | ***0.36*** | ***0.27*** | ***0.16*** | ***0.14*** |

---

1 As presented in the Annual and Interim Financial Statements and notes for the respective periods.

 

 

 

 

---

| | |
|:---|:---|
| 15 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

**Adjusted net earnings and adjusted net earnings per share**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **($000s except shares amount)** | **Sep 30, 2024** | **Jun 30, 2024** | **Mar 31, 2024** | **Dec 31, 2023** |
| Basic weighted average shares outstanding | **169873924** | **151474859** | **138381653** | **137313095** |
| Net earnings (loss)<sup>1</sup> | (2074) | 5713 | (744) | (5944) |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation<sup>1</sup> | 2533 | 1373 | 1842 | 2977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Revaluation of investments (Denarius/Aris) |  |  |  | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from equity accounting in investee<sup>1</sup> | 17 | 2301 | 551 | (3667) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on financial instruments<sup>1</sup> | 12842 | 6144 | 3742 | 13429 |
| &nbsp;&nbsp;Other (income) expense<sup>1</sup> | (428) | 2681 |  | (1442) |
| &nbsp;&nbsp;Loss on extinguishment of Senior Notes | **—** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange (gain) loss<sup>1</sup> | 311 | (7211) | (108) | 6685 |
| Income tax effect on adjustments | (109) | 1738 | 78 | (2221) |
| **Adjusted net (loss) / earnings** | **13092** | **12739** | **5361** | **10353** |
| &nbsp;&nbsp;Per share – basic ($/share) | ***0.08*** | ***0.08*** | ***0.04*** | ***0.08*** |

---

1 As presented in the Annual and Interim Financial Statements and notes for the respective periods.

***Qualified Person and Technical Information***

Pamela De Mark, P.Geo., Senior Vice President Geology and Exploration of Aris Mining, is a Qualified Person as defined by National Instrument 43-101 (NI 43-101), and has reviewed and approved the technical information contained in this news release.

***Forward-Looking Information***

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 Company's ability to deliver on its 2025 objectives, the expected benefit from the Segovia expansion, the completion timeline and expected benefit from the Marmato Bulk Mining Zone construction, the expected completion date of the new pre-feasibility study for the Soto Norte Project, the completion date of the new preliminary economic assessment for the Toroparu Project and statements included in the "About Aris Mining" section of this news release relating to the Segovia Operations, Marmato Complex, Soto Norte Project and Toroparu Project 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". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release.

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 those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 12, 2025 which is available on SEDAR+ at <u>www.sedarplus.ca</u> and included as part of the Company's Annual report on Form 40-F, filed with the SEC at <u>www.sec.gov</u>.

---

| | |
|:---|:---|
| 16 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---

![](header.jpg)

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.

---

| | |
|:---|:---|
| 17 | &nbsp;&nbsp;&nbsp;&nbsp;TSX: **ARIS** \| NYSE-A: **ARMN** \| **aris-mining.com** |

---