Aris Mining Hits Gold with Major Reserve Boost at High-Grade Segovia

VANCOUVER, BC – January 08, 2026 – Aris Mining Corporation has significantly strengthened the foundation of its South American gold empire, announcing a substantial increase in mineral reserves and resources at its flagship Segovia Operations in Colombia. The update, effective November 28, 2025, reveals a 12% jump in proven and probable gold reserves to 1.5 million ounces, underscoring the asset's exceptional quality and longevity even after accounting for a full year of mining depletion.

The announcement sends a clear signal to the market: Segovia is not just a productive mine, but a world-class, high-grade fortress that is growing richer and larger. This growth provides a powerful engine for the company's ambitious strategy to become a dominant player in the region's gold sector, a plan already well underway with major expansions across its portfolio.

A High-Grade Fortress in a Bullish Gold Market

What sets the Segovia update apart is not just the increase in quantity, but the remarkable quality of the gold deposit. The new estimates peg proven and probable reserves at an average grade of 10.7 grams per tonne (g/t) of gold. To put this in perspective, most underground gold mines globally operate on grades between 4 and 10 g/t, with anything above 8 g/t considered high-quality. Segovia’s measured and indicated resources are even richer, averaging an impressive 15.3 g/t.

This exceptional grade provides a crucial economic cushion. High-grade operations can remain profitable even during periods of lower gold prices and can generate substantial margins when the market is strong. This resilience is a key theme in Aris Mining's report, which included a sensitivity analysis to demonstrate that the mine's value is largely insulated from gold price fluctuations.

Interestingly, the company’s economic assumptions appear conservative against a backdrop of bullish market forecasts. Aris Mining based its reserve calculations on a gold price of $2,800 per ounce and its resource estimates on $3,200 per ounce. While these figures are higher than in previous years, they are well below the optimistic projections from leading financial institutions. J.P. Morgan has forecasted gold could average over $5,000 per ounce in late 2026, while Goldman Sachs anticipates prices nearing $4,900 per ounce during the same period. This conservative approach suggests that the economic viability of Segovia's reserves is robust, with significant potential upside if market predictions hold true.

Fueling an Aggressive South American Expansion

The bolstered reserves at Segovia are a critical component of Aris Mining’s aggressive growth strategy. The company, founded in 2022, is on a clear mission to scale its operations and diversify its assets to become a leading South American gold producer. The goal is to eclipse an annual production rate of 500,000 ounces of gold by the second half of 2026, more than doubling its 2024 output of approximately 211,000 ounces.

Neil Woodyer, CEO of Aris Mining, highlighted the update's strategic importance. "The updated Segovia reserve and resource estimates underscore the strength and durability of this exceptional high-grade asset," he stated in the press release. He noted that the increases, net of mined depletion, reinforce "Segovia's long mine life and supporting higher production rates following the mill expansion."

That mill expansion is already a reality. A second mill at Segovia was commissioned in June 2025, increasing the site's processing capacity by 50% to 3,000 tonnes per day. This expansion is the first major step in unlocking the mine's full potential, which the new reserve figures now support for years to come.

Beyond Segovia, Aris Mining is advancing a pipeline of transformative projects. Construction is well underway at its Marmato Complex, also in Colombia, where the new Lower Mine is expected to pour its first gold in late 2025 and ramp up to add over 200,000 ounces to the company's annual production profile. Furthermore, the company recently consolidated 100% ownership of the high-grade Soto Norte project, a long-life asset for which it is finalizing studies to initiate the licensing process in 2026. These Colombian assets, combined with the Toroparu development project in Guyana, paint a picture of a company rapidly building scale and a multi-asset production base.

Investor Confidence and Market Performance

Investors have responded enthusiastically to Aris Mining's strategy and execution. Over the past year, the company's stock (TSX: ARIS) has surged by an astonishing 328%, reflecting strong market confidence in its growth narrative. Analyst consensus remains firmly in the "Buy" category, with many price targets suggesting further upside potential even after the recent run-up.

This latest news from Segovia is likely to further cement that positive sentiment. The ability to not only replace but significantly grow reserves at a flagship mine is a key performance indicator in the mining industry. It demonstrates effective exploration and operational management, de-risking the company’s future cash flows and extending the asset's productive life. For a company valued on its future production potential, proving the depth and quality of its core assets is paramount.

The announcement validates the company's operational prowess and its geological models, giving investors tangible proof that the growth story is built on a solid foundation of high-quality, economically robust ounces in the ground.

Navigating the Complexities of Colombian Mining

While the geological and financial picture for Aris Mining is bright, the company operates within the complex and often challenging jurisdiction of Colombia. The Antioquia region, where Segovia is located, has historically grappled with significant security issues and the pervasive influence of illegal mining operations.

Illegal mining, often controlled by armed criminal groups, poses environmental, social, and security risks across many of Colombia's resource-rich areas. These illicit activities can lead to violent conflict, environmental degradation through the use of mercury, and social instability. While legal operators like Aris Mining are subject to stringent environmental and social regulations, the broader regional context presents an unavoidable operational risk.

Successfully navigating this landscape requires a steadfast commitment to security, robust environmental stewardship, and strong community relations to maintain a "social license to operate." The company's future success depends not only on its ability to efficiently extract gold from the ground but also on its capacity to manage the inherent geopolitical and social risks of its operating environment. This latest reserve update confirms the immense geological prize, but the path to fully realizing that value will require continued vigilance and skillful management of these non-technical challenges.