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Cautionary Notes
2SSRI:NASDAQ | SSO:TSX
Cautionary Note Regarding Forward-Looking Statements
This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian
securities laws (collectively, “forward-looking statements”) concerning the anticipated developments in our operations in future periods, our planned exploration activities, the adequacy of our financial resources
and other events or conditions that may occur or exist in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management.
Generally, forward-looking statements can be identified by the use of words or phrases such as “expects,” “anticipates,” “plans,” “projects,” “estimates,” “assumes,” “intends,” “strategy,” “goals,” “objectives,”
“potential” or variations thereof, or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar
expressions. These forward-looking statements are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including,
without limitation, risks and uncertainties related to: production, development plans and cost estimates for our material properties; future exploration and development; Mineral Reserves and Mineral Resources
estimates and our ability to extract mineralization profitably and replace our Mineral Reserves; our ability to successfully integrate announced acquisitions, including the Marigold mine acquisition; our ability to
obtain adequate financing; commodity price fluctuations; political or economic instability and unexpected regulatory changes; currency fluctuations; the recoverability of our interest in Pretium Resources Inc. and
our other marketable securities; counterparty and market risks related to the sale of our concentrates and metals; governmental regulations, including health, safety and environmental regulations, increased
costs and restrictions on operations due to compliance with such regulations; unpredictable risks and hazards related to the development and operation of a mine or mine property that are beyond our control;
compliance with anti-corruption laws and increased regulatory compliance costs; title to our mineral properties and the surface rights thereon; recoverability of deferred consideration to be received in connection
with recent divestitures; operational safety and security; our ability to access, when required, mining equipment and services; competition in the mining industry for properties; our ability to attract and retain
qualified personnel and management and potential labour unrest; shortage or poor quality of equipment or supplies; claims and legal proceedings, including adverse rulings in current or future litigation, and
assessments; the terms of our outstanding convertible notes; and those other various risks and uncertainties identified under the heading “Risk Factors” in our most recent Form 40-F filed with the U.S.
Securities and Exchange Commission (the “SEC”) and Annual Information Form filed with the Canadian securities regulatory authorities.
Our forward-looking statements are based on what our management currently considers to be reasonable assumptions, beliefs, expectations and opinions and we cannot assure you that actual events,
performance or results will be consistent with these forward-looking statements. Assumptions have been made regarding, among other things: our ability to carry on our exploration and development activities;
the discovery of Mineral Reserves and Mineral Resources on our mineral properties; the timely receipt of required approvals and permits; the price of the metals we produce; the costs of operating and
exploration expenditures; our ability to operate in a safe, efficient and effective manner; our ability to obtain financing as and when required and on reasonable terms; our ability to continue operating the Pirquitas
mine and the Marigold mine; and those other assumptions identified under the heading “Introductory Notes – Cautionary Notice Regarding Forward-Looking Statements” in our most recent Form 40-F and
Annual Information Form. Our forward-looking statements reflect current expectations regarding future events and operating performance and we do not assume any obligation to update forward-looking
statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on
forward-looking statements. All references to “$” in this presentation are to U.S. dollars unless otherwise stated.
Cautionary Note to U.S. Investors
The disclosure included in this presentation uses Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and Mineral Resources
estimates are made in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Administrators that
establishes disclosure standards with respect to scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the SEC set out in Industry Guide 7.
Consequently, Mineral Reserves and Mineral Resources information included in this presentation is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies
subject to the SEC requirements. Under SEC standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically produced or
extracted at the time the reserve determination is made
Cautionary Note Regarding Non-GAAP Measures
This presentation includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including cost of
inventory, cash costs, all-in sustaining costs and total costs per payable ounce of silver or gold sold and adjusted net income (loss) and adjusted basic earnings (loss) per share. We believe that, in addition to
conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate our performance. The data presented is intended to provide additional information and should not be
considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-GAAP measures should be read in conjunction with our consolidated financial statements
Today’s Schedule
3SSRI:NASDAQ | SSO:TSX
9:30am
9:45am
11:45am
12:45pm
4:00pm
Introduction and Safety Induction
Management Presentation
Lunch
Marigold Analyst Tour
Depart Marigold Mine
4SSRI:NASDAQ | SSO:TSX
Safety Induction
1. Safety Share – “Situational Awareness”
2. Building Emergency Muster Locations
3. PPE Requirements
4. Basic Site Safety Location Requirements
Agenda
5SSRI:NASDAQ | SSO:TSX
Introduction and History/Overview
Environment, Safety and Health
Geology
Mineral Resources and Reserves
Mine Operations
Processing
Financial Summary
Mine Optimization
Opportunities and Next Steps
6SSRI:NASDAQ | SSO:TSX
Transformational Acquisition
1. Geopolitically diversified our portfolio
Nevada is a long established premier mining location
2. Transaction value for the price paid
NPV of $419M well exceeds the price paid of $268M
3. Robust Life of Mine Plan
Positioned for success through the cycle
Focused on margin and mine life extension
Mine Overview
Open pit, run-of-mine heap leach operation
Conventional truck and shovel equipment
Gold doré
Continuous operation since 1988
Strong safety and environmental practices
Excellent infrastructure
8SSRI:NASDAQ | SSO:TSX
Maverick Springs
Candelaria
Goldstrike
Marigold
Silver Standard projects
Other mines in area
Twin Creeks
Cortez
Phoenix
MARIGOLD
Carlin Trend
Battle Mountain-Eureka Trend
9-year mine life with potential to extend
History
9SSRI:NASDAQ | SSO:TSX
1988: Commenced Production under Rayrock/Homestake/Placer Dome
1999: Transitioned to 100% ROM heap leach processing
1999: Glamis acquired Rayrock Mines
2001: Barrick acquired 33% ownership through Homestake Mining
2005: Mine Expanded
2006: Goldcorp acquired 66% ownership through Glamis Gold
2014: Silver Standard acquired 100% of Marigold Mining Company
Marigold has produced in excess of 2.7Moz of gold
Marigold Operations Overview
10SSRI:NASDAQ | SSO:TSX
Basalt – Antler
Backfilled Pit
Leach Pads
1 km
N
Target PitMackay PitTerry Pit
Plant and Administrative Facilities
Mine Safety Performance
12SSRI:NASDAQ | SSO:TSX
2014 YTD All Injury Frequency Rate (“AIFR”) of 2.48 is consistent with
recent years-seven reportable injuries in 2014
Since SSRI took ownership the AIFR has reduced to 1.56
2014 YTD contractor AIFR is 0
Returning to World Class Safe Production
Achieving a Safe Workforce
Face Time with the Workforce
Safe for Life Behavior Reviews
Formal Task Observations
Line Out Meetings
Safety Meetings
Workplace Inspections
Field Level Risk Assessment Effectiveness Reviews
Mock Regulatory Inspection Program
Educating and coaching supervisors on regulations and hazard recognition
Contractor Management
Manage Contractors through daily engagement with emphasis on safety
13
Safe For Life
Achieving a Safe Workplace
SSRI:NASDAQ | SSO:TSX
Environmental Best Practices
14SSRI:NASDAQ | SSO:TSX
First operating mine to receive the International
Cyanide Management Code certification
One of the first to install mercury pollution
control devices
Partnered with the Nevada Division of Wildlife
Annual environmental awareness training
Highly regarded by regulators and inspectors
Marigold is a leader in environmental stewardship
Mine Reclamation and Closure
15SSRI:NASDAQ | SSO:TSX
Where applicable concurrent reclamation is performed throughout
the mine life, reducing mine closure costs
Permanent mine closure plan will be submitted, per State & BLM
requirements, within 2 years of final closure
Case study- Marigold Tailings Impoundment:
Discontinued use in 1999; reclamation from 1999-2004; no on-
going management required
Community Relations
16SSRI:NASDAQ | SSO:TSX
Education support through various
scholarships
Partnership with the Safe Haven Rescue Zoo
Initiated a sustainable investment board,
Battle Mountain Advisory Committee
Community wellness and emergency
preparedness support through donations and
participation in drills and committees
Industry Group participant including the
Nevada Mining Association, Nevada Chapter-
Women in Mining and the Geological Society
of Nevada
Over $500,000 to local communities in the past 2 years
Awards & Accreditations
17SSRI:NASDAQ | SSO:TSX
International Cyanide Code: First mine worldwide
to receive certification
Nevada Mining Association: Safety Awards granted
to 15 employees since 2011
Employer Support of the Guard and Reserve:
Supervisor and Employer awards
American Red Cross: Several Real Heroes award
nominations, 3 award recipients
Federal and State of Nevada: 2007 Hardrock
Mineral Excellence in Mine Reclamation Award
Permitting Strategy and Results
18
Continuous focus on permitting
• Leach pad & Waste expansions
• Infrastructure Improvements
• Pit Expansions
• Dump Expansions
• Dewatering/Pit Lake
• Infrastructure Expansion
Bonding
approval in
progress
Expansion
EIS
Minor
Modification
Midyear
2018
SSRI:NASDAQ | SSO:TSX
Environmental Impact Statement Timeline
19
EIS on track for 2018
Baseline Studies
Submit Plan of Operations
Public Scoping Period & Meetings
Draft EIS Development
Public Comment Period & Meetings
Final EIS Development
Public Comment Period
Record of Decision
Appeal Period
Ongoing
- 2015 Q1-Q4
2016
Q1-Q3
2017
Q4 2017
Q1 2018
Q2 2018Q2 2015
Q1 2016 Q1 2017
SSRI:NASDAQ | SSO:TSX
Major Gold Belt in Northern Nevada
21SSRI:NASDAQ | SSO:TSX
Utah
Idaho
LegendAbandoned
Mine
Active Mine
Prospective
Mine
Rab
bit
Su
ture
Conceptual Prospect
Allig
ato
r Rid
ge
Tre
nd
No
rth
Star Lake
Concept
Hollister
Midas
New Pass
Mule
Canyon
Fire
Creek
15 Miles
Convers
e
Marigold
Phoenix
Turquoise
Ridge
Twin
Creeks
McCoy/Cove
(Underground
Potential)
Lone Tree
Trenton
Canyon
Jersey
Bernice
Pinson
Rabbit Suture
Concept
(open ground)
Iron Point
Cortez
Pipeline
Horse
Canyon
Ravenswood
Kennedy
Sierra
Willow
Creek
Goldbanks
Sandman
Tact-
Buff-T
Preble
LegendAbandoned
Mine
Active Mine
Prospective
Mine
Conceptual Prospect
No
rth
Marigold Mineralization of Sedimentary Rocks
23SSRI:NASDAQ | SSO:TSX
Terry Zone Complex
(looking north) Fault zone
Alteration zone
Mineralized zone
W
N
GEOLOGY
MORE REFERENCES
High 70 g-m
Medium 5-70 g-m
Low <5 g-m
Mineral Reserves
Mineral Resources
Major Faults
GRADE THICKNESS
Discover, Define & Develop
5 North
Hercules
Antler/Basalt
Target II
Mackay
Quaternary /
Tertiary Alluvium
Tertiary Tuff
Permian /
Mississippian
Havallah
Permian /
Pennsylvanian
Antler
Ordovician Valmy
N
1 mile
Resource Areas and Exploration Plan
24SSRI:NASDAQ | SSO:TSX
Strategic Development of Resources to Reserves
25
Cross- Section showing
resources that could be
converted to future
reserves
SSRI:NASDAQ | SSO:TSX
One Mile
N
Discover & Define Resource, Develop to Reserve
26
Marigold Cross-Section
(looking north)
SSRI:NASDAQ | SSO:TSX
WE
Mackay Pit
Red Dot
Resource
Illustrative potential
pit shell
5N
HERCULES
MACKAY
ANTLER AND BASALT
2 miles
6 m
iles
Valmy pits
N
Gold Mineralization: 6 miles by 2 miles
SSRI:NASDAQ | SSO:TSX
Sulfide Potential Below Oxide Resources
28
Conceptual Cross-Section With Local Analogs
29SSRI:NASDAQ | SSO:TSX
MPh
PPa
Ov
COc
Twin Creeks
Comus Fm. COc
6.1M ozs Au
Turquoise Ridge
Comus Fm. COc
22M ozs Au
Getchell/TRJVAcross valley
4.7M ozs
Twin CreeksAcross valley
11.1M ozs
Marigold’s unknown
gold mineralization
Oxide
mineralization
Un-Ox sulfide
mineralization
35 miles
Exploration Potential
30SSRI:NASDAQ | SSO:TSX
Multiple Opportunities to Grow Resource
Oxides
Resource replacement drilling within and directly adjacent to current
pit limits
Resource upgrade drilling of Inferred to Indicated
Step-out drill programs focusing on high grade, near surface,
following mineralization along known trends, laterally and then to
depth
Sulphides
Target resource and reserve evaluation of higher grade sulphide-gold
mineralization directly underlying current pit floor
Deep high grade program
Key Assumptions for Resources and Reserves
Mineral Resources (as at September 30, 2014)
Estimated by ordinary kriging
Constrained by an optimized pit at a gold price of US$1,500 per ounce
Indicated Mineral Resource is inclusive of Mineral Reserve
Mineral Reserves (as at September 30, 2014)
Mineral Reserves are contained within pit designs generated using Indicated Mineral Resources only
Gold price of $1,300 per ounce
Estimated at a cut-off grade of 0.065 g/t payable gold grade
Pit designs utilize geotechnical parameters proven from actual performance
32SSRI:NASDAQ | SSO:TSX
Note: Please refer to “Mineral Resources: Notes to Table” and “Mineral Reserves: Notes to Table” in this presentation. Please also see “Cautionary Notes” in this presentation.
Mineral Resources and Reserves Estimate
33SSRI:NASDAQ | SSO:TSX
Long history of resource to reserve conversion
129.7 Mt grading 0.51 g/t gold
Contained gold of 2.1 Moz
Probable
Mineral Reserves
Indicated
Mineral Resources
Inferred
Mineral Resources
243.7 Mt grading 0.51 g/t gold
Contained gold of 4.0 Moz
13.4 Mt grading 0.46 g/t gold
Contained gold of 0.2 Moz
Note: Please refer to “Mineral Resources: Notes to Table” and “Mineral Reserves: Notes to Table” in this presentation. Please also see “Cautionary Notes” in this presentation.
Mackay: Reserves and Resources by Location
34SSRI:NASDAQ | SSO:TSX
Red Dot Area could be converted to reserve at a favorable price
Red Dot Area Resource Grade Shell
2014 Reserve
LOM Pit
Mining Position: EOY 2014 and EOY 2019
36SSRI:NASDAQ | SSO:TSX
Mackay Pits
WE
DG
Waste
Dump
Leach
Pad
Waste Dump
Waste Dump
Mackay Pits
Leach Pad
WEDG
Lea
se Bo
un
da
ry
Hercules 1 Pit
5North 1 Pit
5North 2 Pit
Waste Dump
Waste Dump
2014 2019
37SSRI:NASDAQ | SSO:TSX
Mine Plan Overview
Production Schedule Annual Average
Total material moved: 71.8 Mt
Ore to leach pad: 15.1 Mt
Strip ratio: 3.7 : 1
Gold recovery: 74%
Gold grade to leach pad: 0.51 g/t
Operating Statistics: Material Mined
38SSRI:NASDAQ | SSO:TSX
Strip ratio declines over time
13 15 15 15 15 15 15 155
64 59 59 62 6053 53
47
14
0.0
1.0
2.0
3.0
4.0
5.0
0
20
40
60
80
100
2015 2016 2017 2018 2019 2020 2021 2022 2023
Waste
:Ore
Mill
ion
To
nn
es
Waste tonnes Ore tonnes Strip Rato
M6b M9 5N2 M7 5N1
H1 M8 M5 M2 M4
M3b M3a M6a M1 SR
Phase Design Through the Years
39SSRI:NASDAQ | SSO:TSX
M=Mackay
5N= 5 North
H=Hercules Strip Ratio
0.0
1.0
2.0
3.0
4.0
5.0
0
20
40
60
80
100
2015 2016 2017 2018 2019 2020 2021 2022 2023
Waste
:Ore
Mill
ion
To
nn
es
Operating Statistics: Gold Production Schedule
40SSRI:NASDAQ | SSO:TSX
Stable production base
172 166 183 173
159
176
225
209
70
0%
25%
50%
75%
100%
0
50
100
150
200
250
2015 2016 2017 2018 2019 2020 2021 2022 2023
Go
ld R
eco
ve
rie
s (
%)
Go
ld P
rod
uce
d (
Ko
z)
Operating Statistics: 2014 YTD Tonnes Moved
161
187 186
205
199200
204203
208
150
170
190
210
Jan Feb Mar Apr May Jun Jul Aug Sep
‘00
0 T
on
ne
s/D
ay
2014
41SSRI:NASDAQ | SSO:TSX
29% increase YTD
Mine Fleet
42SSRI:NASDAQ | SSO:TSX
Hauling
6 x Komatsu 930
12 x Hitachi EH5000
Loading
1 x P&H 4100
2 x Hitachi EX5500
1 x Komatsu WA 1200
Drilling
2 x Atlas Copco PV271
4 x Ingersoll Rand DML
Process Flow Sheet
44SSRI:NASDAQ | SSO:TSX
Barren Ponds
Retort
Electro-winning
Pregnant Solution
Ponds
Smelting Furnace
Stripping/Acid
Washing/Reactivating
Carbon Adsorption
Columns
Heap Leach Pad
Lime
Barren Solution
Mercury Slag
Dore
Sludge
E/W Sludge
Pregnant
Eluant
Barren Strip Solution
Pregnant Carbon
Barren Carbon
Barren SolutionLean Solution
Pregnant Solution
Capital Cost Summary
Total life of mine sustaining capital requirements
46SSRI:NASDAQ | SSO:TSX
Past investment for future benefit
Sustaining Capital Costs Total ($M)
Mining Equipment $17
Capitalized Equipment Maintenance 74
Processing 24
Administration and Permitting 8
Total $123
Note: Sustaining capital costs excludes capitalized stripping.
Operating Cost Summary
47SSRI:NASDAQ | SSO:TSX
LOM Cost / tonne$ / tonne
Processed
Mine Operations $7.13
Processing 1.33
G&A 0.69
Total $9.16
Mining Operations represent ~80% of costs
Operating costs are representative of a large open pit operation
*
* Equivalent to $1.50 per tonne mined.
Mine Operations79%
Processing13%
G&A8%
0%
Life of Mine Operating Costs Breakdown
48
Note: All data includes the period encompassing October 2014 though 2027. Maintenance excludes capitalized maintenance
*Includes capitalized stripping of $204 million
SSRI:NASDAQ | SSO:TSX
Labour29%
Consumables20%
Fuel16%
Maintenance7%
Power3%
Other Direct Costs11%
Royalties15%
$600
$650
$700
$750
$800
$850
$900
$950
$1,000
$/o
z s
old
Cash
Cost
AISCCapitalized
Stripping
Sustaining
Capital
Reclamation
$762
$123
$74
Operating Cost Summary
49SSRI:NASDAQ | SSO:TSX
LOM AISC less than $1,000/oz
$ / oz Sold
Cash Costs $762
Capitalized Stripping 123
Sustaining Capital 74
Reclamation 28
All-in Sustaining Costs $986
Note: Cash costs and all-in sustaining costs are a non-GAAP financial measure. Please see “Cautionary Notes” in this presentation.
$28$986
765869
690755 761 802
675 692766
$0
$200
$400
$600
$800
$1,000
$1,200
2015 2016 2017 2018 2019 2020 2021 2022 2023
$/o
z p
so
ld
AISC Cash Costs
Cash Costs and All In Sustaining Costs
50SSRI:NASDAQ | SSO:TSX
Competitive cost structure
1,090
1,157
1,0991,028
1,139
890
808787
Note: Cash costs and all-in sustaining costs are a non-GAAP financial measure. Please see “Cautionary Notes” in this presentation.
793
Average royalty rate of 9.8% over LOM
51SSRI:NASDAQ | SSO:TSX
Annual average varies from 9.1-10.0%
Royalty Holders:
Century Gold
Royal Gold
Franco-Nevada
University of Nevada
VEK
Sections in blue have no Royalty
10%
10%
10%
3%5%
5%
5%
52SSRI:NASDAQ | SSO:TSX
Mine Economics
After-tax NPV (5%) = $419M
Revenue = $2.2B (at $1,300 per ounce gold price)
After-tax Free Cash Flow = $536M
After-tax NPV (5%) sensitivity analysis:
+10% gold price: $540M
(10%) operating costs: $495M
(10)% 0% 10%
Gold Price $297M $419M $540M
Operating Cost $495M $419M $342M
Sustaining Capex $430M $419M $409M
Sensitivity Analysis
53SSRI:NASDAQ | SSO:TSX
Leverage to rising gold price
$0
$200
$400
$600
(10)% Base Case 10%
NP
V (
$M
)
Gold Price Operating Cost Capital Expenditures
Objectives and Results to Date
55SSRI:NASDAQ | SSO:TSX
Prototype Process – Pit Viper
Maintenance – CMMS solution, PM Process, Work Order, Backlog, Breakdown work
Resource Capacity Planning and Scheduling
Skills Development & Coaching – Change Management
MOS Implementation
Dispatch, Drill & Blast, Load &HaulBrown Paper :System Flow MOS
Implement changes across other areas and pits
Material Management – Maintenance parts kitting, parts storage
4 8 12 16 20 24 28 32
Weeks
Enhance the key elements of the
Management Operating System (“MOS”)
Educate front line management
Develop effective visual management
tools
Improve communication
Enhance effective, timely reporting of
results
Enhance effective close out of action
items
4,500
5,000
5,500
6,000
6,500
7,000
4100 Tons per Operating Hour
Jan Feb Mar MayApr Jun Jul Aug Sep2014
85
90
95
100
105
110
115
Apr May Jun Jul Aug Sep
2014
Drill Footage per Operating Hour
Drilling and Blasting
56SSRI:NASDAQ | SSO:TSX
Improved drilling rates and digability
+7%+19%
Case Study – P&H 4100
57SSRI:NASDAQ | SSO:TSX
Situation:
New equipment
New bench height
Needs Identified:
Space Identify areas/bench height where the
shovel can be effective
Continue double side loading
High quality blasted material Drilling correct level, fragmentation study
Sufficient blasted stock in front of shovel
Well trained operators Simulator
Best operator rotated around crews
High quality maintenance PMs
Vendor support & training
Loading
150
170
190
210
Q1 2014 Q2 2014 Q3 2014
Tonnes Moved per Day
58SSRI:NASDAQ | SSO:TSX
Loading trends leading to lower costs* Rope Shovel Cost per Tonne Loaded for Q3 2014 represents July 2014 and August 2014 data only.
50%
60%
70%
80%
90%
100%
Q1 2014 Q2 2014 Q3 2014
Rope Shovel Availability
50%
60%
70%
80%
90%
Q1 2014 Q2 2014 Q3 2014
Rope Shovel Utilization
$0.10
$0.12
$0.14
$0.16
$0.18
$0.20
Q1 2014 Q2 2014 Q3 2014
Rope Shovel Cost per Tonne Loaded
+38%
+13%
(30)%
*
+19%
Operational Excellence Focus
59SSRI:NASDAQ | SSO:TSX
Total Effective Truck Hours – More Tonnes moved
Truck constrained – focus on truck efficiency & effectiveness
Availability Utilization
Investigate Root Cause of
Unintended Results
Improved Shift Change Time
Improved Planning of Materials and
People
Dispatch Network Upgrade
Better Parts & Materials Controls Improve Radio Communication
Continued Operator Care &
Maintenance Training
Advance Dispatch Use and Data
Analysis
Improved Planned to Unplanned
Maintenance Ratio
61SSRI:NASDAQ | SSO:TSX
Marigold Going Forward
Resource delineation and upgrade
Operational excellence focused on mining costs
and practices
Exploration for oxide and sulphide mineralization
Focused on delivering results and continued growth
Mineral Resources: Notes to Table
1. James Carver, Registered SME Member (# 509390), is the Qualified Person for the Mineral Resources estimate.
2. The Mineral Resources estimate has been classified in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM, 2010)
definition standards.
3. Reported Mineral Resources are estimated below the as-mined surface of September 30, 2014 and are inclusive of Mineral Reserves.
4. Gold values have been estimated using ordinary kriging.
5. Domain based outlier restriction on gold values ranging between 1.37 g/t and 8.58 g/t has been used for the Mineral Resources estimate.
6. Densities for different lithological units have been calculated based on detailed test work carried out by Silver Standard and corresponds to the
historical mine production.
7. The Marigold drillhole database including collar survey, assay, lithology, oxidation and densities used for this resource estimate has been
verified by James Carver by conducting detailed verification checks, including QA/QC of location, geological, density and assay data.
8. Mineral Resources include all mineralized material that has the potential for economic recovery of gold from an open pit supply to a run-of-mine
heap leach operation.
9. The Mineral Resources estimate has been calculated based on an optimized pit at a cut-off grade of a payable gold grade of 0.065 g/t (gold
assay factored for recovery, royalty and net proceeds per mineral resource block) with a gold price assumption of US$1,500 an ounce.
10. The cost, recovery and design parameters considered by optimization calculations for this Mineral Resources estimate are considered
appropriate based on the current mine production.
11. The reported Indicated Mineral Resources are regarded as appropriate for medium to long term production open pit planning and mine
scheduling on a quarterly basis.
12. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. While the classification categories of Mineral
Resources used in this news release are recognized and required under Canadian regulations, the U.S. Securities and Exchange Commission
(“SEC”) does not recognize them and U.S. companies are generally not permitted to disclose resources in documents they file with the SEC.
13. Tonnage and grade measurements are in metric units. Contained gold ounces are reported as millions of troy ounces (Moz).
14. Figures may not total exactly due to rounding.
63SSRI:NASDAQ | SSO:TSX
Mineral Reserves: Notes to Table
1. Thomas Rice, SME Registered Member (#269380), is the Qualified Person for the Mineral Reserves estimate.
2. Trevor Yeomans, B.Sc. (Hons), ACSM, P. Eng. is the Qualified Person who provided metallurgical parameters that were incorporated in the
Mineral Reserves estimate.
3. CIM (2010) definition standards were used in the generation of Mineral Reserves estimate classification.
4. Mineral Reserves are contained within pit designs generated using Indicated Mineral Resources only and a gold price of $1,300 per ounce.
5. Reported Mineral Reserves are estimated below the as-mined surface of September 30, 2014.
6. Mineral Reserves are estimated at a cut-off grade of 0.065 g/t payable gold grade.
7. Mining costs are based on historical values and budgeted costs with a haulage component based on estimated haul cycle times.
8. Processing and general and administrative costs were estimated on the basis of historical values and budgeted costs.
9. The Mineral Reserves estimate is quoted within a pit design that utilizes geotechnical parameters proven from actual performance. The design
was created using a geometry guideline from a Floating Cone algorithm that maximizes the Mineral Reserves cash flow.
10. No mining dilution is applied to the grade of the Mineral Resources. Dilution intrinsic to the Mineral Resources estimate is considered sufficient
to represent the mining selectivity considered.
11. Average life of mine strip ratio is 3.7 waste to ore.
12. Metallurgical recovery formula was applied for gold using “nearest neighbor” model based on cyanide-soluble gold grades, calibrated to
historically achieved recoveries.
13. Tonnage and grade measurements are in metric units. Contained gold ounces are reported as millions of troy ounces (Moz).
14. Figures may not total exactly due to rounding.
15. This Mineral Reserves estimate assumes that all required permits, as discussed under the heading “Environmental, Reclamation and Social
Responsibility” will be obtained.
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