On March 21, 2022, Aris Gold Corporation acquired a 20% stake in the Soto Norte gold project in Colombia from Mubadala Industry Holding Company LLC, with an option to buy an additional 30%. The Soto Norte project is notable for its high-grade mineral reserves and low costs. Aris Gold boosted its finances by $100 million, expanding a precious metals stream at the Marmato Mine by $65 million and securing a $35 million convertible debenture. The company plans to leverage its Colombian mining experience to advance the Soto Norte project, emphasizing sustainable practices. Aris Gold Chair Ian Telfer emphasized the strategic value of the transaction in growing Aris Gold, while Mubadala's executives, Danny Dweik and Mohamed Mirza, expressed confidence in Aris Gold's capabilities. Soto Norte possesses considerable resources, with indicated resources containing 8.5 million ounces of gold and inferred resources containing an additional 3.6 million ounces. The project is expected to yield 450,000 ounces of gold annually over a 14-year mine life, with low all-in sustaining costs. The joint venture, slated to close in April 2022, involves a $100 million payment from Aris Gold to Mubadala, with a potential future payment of $300 million to increase Aris Gold's stake to 50%. The transaction sets Aris Gold on a trajectory to produce over 400,000 ounces of gold annually. BMO Capital Markets served as the M&A advisor to Mubadala for this deal. The project's focus on environmental stewardship and social development reflects a commitment to responsible mining practices.