Aris Mining Corporation (NYSE:ARIS) reported a 28% increase in proven and probable gold reserves at its Segovia operation, bringing the total to 1.9 million ounces as of November 10, 2026, compared with 1.5 million ounces in the previous estimate.
The updated mineral reserve and resource estimates showed a net increase of 418,000 ounces after accounting for gold extracted during the period. Proven and probable reserve grades also increased 24% to 13.3 grams per tonne (g/t), compared with 10.7 g/t in the 2025 estimate.
The updated Segovia reserve estimate was calculated using an assumed gold price of $2,800 per ounce.
The increase in contained gold reserves was accompanied by higher average grades, reflecting changes in the estimated quantity and concentration of mineralisation classified as economically recoverable reserves.
Aris Mining attributed the reserve growth to its exploration and resource conversion programmes.
Chair and Chief Executive Officer Neil Woodyer commented:
“The 28% increase in reserves demonstrates that our exploration and resource conversion programs are doing more than simply replacing ounces produced.”
Measured and indicated mineral resources increased 8% to 3.9 million ounces, while average grades rose 29% to 19.8 g/t gold from 15.3 g/t.
Inferred mineral resources declined to 2.6 million ounces from 2.9 million ounces.
The company attributed the reduction in inferred resources to infill drilling and the conversion of mineral resources into reserves.
The updated resource estimate was prepared using an assumed gold price of $3,200 per ounce, compared with the $2,800 per ounce assumption applied to reserves.
Aris Mining also provided an update on its technical reporting schedule.
The company expects to publish a prefeasibility study for its Toroparu project later in November 2026, including the project’s first mineral reserve estimate.
An updated NI 43-101 technical report for the Marmato operation is scheduled for release during the first quarter of 2027.
The Segovia technical information was reviewed and approved by Pamela De Mark, P.Geo., Senior Vice President of Geology and Exploration, and Ignacio Vélez, FAusIMM, Vice President of Technical Services.
Both individuals are qualified persons under National Instrument 43-101 (NI 43-101), the Canadian disclosure standard for mineral projects.
The updated estimates indicate higher gold reserves and measured and indicated resources at Segovia, alongside a reduction in inferred resources associated with drilling and resource conversion activities.
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