Aris Mining Corporation recently executed a significant transaction involving 15,500,000 common shares of Seasif Exploration Inc. The sale, completed on August 4, 2026, came at a price of C$0.005 per share, resulting in total gross proceeds of C$77,500 for Aris Mining. This move reflects a shift in the company’s investment strategy regarding its stake in Seasif, which once accounted for 25.9% of the issued shares. The shares were sold through a privately brokered arrangement.
Following the sale, Aris Mining holds 14,410,588 shares of Seasif, representing 9.8% of the total outstanding shares. This marks a decrease from the 20.4% ownership it held just before the transaction. The drop in percentage ownership is primarily attributed to additional share issuances from Seasif's treasury since July 17, 2020.
Aris Mining confirms no pursuit of control in Seasif
The early warning report from Aris Mining clearly states that the company does not aim to influence Seasif's management or direction through its shareholding. The sale of shares was undertaken for investment purposes, and the remaining shares are also being held for similar reasons. Aris Mining emphasized that it may adjust its beneficial ownership in the future, depending on various factors including market conditions, potential investment opportunities, and other business considerations.
Seasif's role in Aris Mining's broader gold-focused strategy
Aris Mining is a gold mining company focused on South America. It operates the Segovia and Marmato underground gold mines in Colombia. These mines produced approximately 257,000 ounces of gold in 2025. The company is working on expansion projects at these sites. They aim to boost annual production to about 500,000 ounces. This is driven by the ramp-up at Segovia after the second mill's installation in June 2025. The new Marmato bulk mine and CIP plant will also contribute. It is expected to yield its first gold in the fourth quarter of 2026.
Aris Mining's long-term goal is to achieve annual gold production of 1 million ounces. To reach this objective, the company is actively progressing key expansion projects. These include the construction of the second mill at Segovia. They are also working on the new bulk mine and CIP plant at Marmato. These initiatives are intended to increase output and efficiency significantly.
In addition to its current operations, Aris Mining is involved in the development of the high-grade Soto Norte gold project in Colombia. It is also working on the Toroparu gold project in Guyana. The Toroparu project is currently undergoing a prefeasibility study. A decision on construction is expected in early 2027. These projects are critical to the company's future growth and diversification.
Seasif Exploration remains a junior player in the mining sector, with its headquarters located in Vancouver. Aris Mining continues to hold its remaining shares in Seasif as part of its broader investment portfolio, but does not own any additional securities of the company. The early warning report detailing this transaction has been filed in accordance with applicable securities laws.
Further details about Aris Mining's operations and projects can be found on its official website and regulatory filings available through SEDAR+ and the U.S.
This news release includes forward-looking information. It includes statements about the expected outcomes of the expansion projects. These statements involve the timing for the first gold pour at the Marmato bulk mining zone. They also mention the benefits from the Segovia expansion. The timeline for decisions on the Toroparu project is included. These statements are based on current expectations and assumptions. They reflect management's best judgment at the time of publication.