SSR mining completes acquisition of Taiga Gold

Vancouver-based gold company SSR Mining has completed acquiring all of the issued and outstanding shares of Taiga Gold Corp.

With this transaction, SSR Mining has consolidated a 100% interest in the Fisher property contiguous to its Seabee mine, and eliminated a 2.5% net smelter return royalty on the Fisher property.

It has added five new properties covering over 29,100 hectares to complement the company's existing exploration platform in the underexplored and geologically prospective Province of Saskatchewan.

SSR Mining's Saskatchewan assets now cover an area of approximately 131,150 hectares.

SSR Mining acquired all of the issued and outstanding common shares of Taiga Gold by way of a court-approved plan of arrangement under Section 193 of the Business Corporations Act (Alberta).

Each Taiga Gold shareholder will receive cash consideration of C$0.265 without interest for each Common Share held, representing aggregate consideration of approximately C$30mn.

SSR Mining has four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of development and exploration assets. In 2021, the four operating assets produced approximately 794,000geo. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.

Taiga Gold has interest in six mineral exploration properties located in the vicinity of SSR Mining's Seabee Gold Operation in eastern Saskatchewan. Taiga's flagship project, the Fisher, is located both north and south of the Seabee Gold Operation.

Tim Termuende, President and CEO of Taiga said: "We feel confident in delivering our assets and business into SSR Mining’s stewardship."

Rod Antal, President and CEO said with this transaction, it will redeploy a portion of the proceeds from the recent non-core royalty portfolio sale into new growth opportunities in a core jurisdiction.

"The acquisition of Taiga Gold reiterates our commitment to the Seabee gold mine and ongoing investment for future resource discoveries as we aim to extend Seabee’s mine life into the next decade," he said.

"Additionally, the acquisition of new greenfields exploration properties across the province of Saskatchewan should allow SSR Mining to build upon our regional expertise in a region we consider exceptionally prospective geologically and underexplored.”