Sandstorm Gold Royalties: Hod Maden Joint Venture to Invest Up to $100M to Advance Critical Path; Underpins Long-term Outlook

VANCOUVER, BC, March 31, 2025 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to report that SSR Mining Inc. ("SSR Mining") has released its 2025 guidance, including anticipated capital expenditure for the Hod Maden gold-copper project in Türkiye. For 2025, the Hod Maden joint venture has approved early-works capital investments of approximately US$60–$100 million (on a 100% basis), which is in addition to the reported US$42 million in development costs incurred at the project in 2024. To date, technical work continues to affirm prior due diligence outcomes and SSR Mining continues infill drilling with an aim of de-risking the initial years of the mine. The focus of 2025 activities will be on advancing the project's critical path items—principally, road and tunnel construction. An initial exploration program focused on potential extension of the existing deposit and defining new targets is also planned for 2025. In addition to these development activities, SSR Mining is expected to continue the process of securing project financing for Hod Maden as it advances the asset towards a final investment decision. Based on the continued progress of these critical path early-works initiatives, Sandstorm maintains its forecast for first production at Hod Maden in 2028.

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