Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) is pleased to announce the Q3 2023 preliminary production results from the Company’s four operating mines: Aranzazu Mine, Ernesto/Pau-a-Pique Mine, San Andres Mine, and Almas Mine. Total production during Q3 2023 reached 64,875 gold equivalent ounces¹. Production increased in all operating mines vs. the previous quarter.

Highlights

• Total production in GEO increased by 34% in Q3 2023 compared to Q2 2023, due to the commencement of commercial production in Almas mine, higher production at the Aranzazu, San Andres and EPP mines. Compared to Q3 2022, production increased 12%.
• At Aranzazu, production was 27,933 GEO in line with the Company’s expectations. Production was 11% higher compared to Q2 2023, due higher tonnage and higher head grades. Compared to Q3 2022, production also increased by 7%.
• At EPP, production was 11,185 GEO, 62% higher in Q3 2023 than in Q2 2023. As expected, the production increase in EPP was attributable to the high-grade zone in Ernesto and a reduction in the use of existing stockpiles. The Company will continue mining in the higher-grade zone in Ernesto during the last quarter of the year and expects a robust fourth quarter production, in a trend similar to the one observed in 2022. Compared to Q3 2022, production decreased 38%.
• At San Andres, production was 17,543 GEO for the quarter, representing a 7% increase compared to the previous quarter. This represents a third quarterly increase in production in a row. The quarter’s production was enhanced by operational efficiency with the upgrade in the stacking system with the installation of new grasshoppers, boosting productivity. Compared to Q3 2022, production at San Andres increased by 25%.
• At Almas, production was 8,214 GEO considering only two months of production. Almas commenced commercial production this quarter, and the results have exceeded market benchmarks. Furthermore, upgrades in infrastructure are underway to increase the plant processing capacity for the upcoming quarters.

Rodrigo Barbosa, Aura’s President and CEO commented, “In this quarter, we experienced a significant rise in production volumes in all our operations. Also, a standout accomplishment this quarter was Almas’s ramp-up, which exceeded industry benchmarks. As our operations thrived, we finalized and released a highly accretive Feasibility Study, secured funding and commenced construction at Borborema. We, at Aura team, are focused and building a solid track record in order to achieve our 450,000 Oz annualized by the end of 2025.”

Production Results

Preliminary GEO²³ production volume for the three months ended September 30, 2023, when compared to the previous quarter and the same period of the previous year is presented below:

Production for the last twelve months as of September 30, 2023 (“LTM”) was 234,325 GEO, 3% increase compared to the previous quarter.

The chart below shows the quarterly consolidated GEO production measured in current and constant prices since Q3 2021, as well as the LTM at the end of each reporting period:

Consolidated GEO Production per Quarter and LTM

(000’s GEO, current and constant prices as reported)

The table below shows production by each type of metal at Aranzazu. Production increased for all types of metals, both vs. Q2 2023 and Q3 2022:

Qualified Person

The scientific and technical information contained within this news release has been reviewed and approved by Farshid Ghazanfari, P.Geo. Mineral resources and Geology Director for Aura Minerals Inc. and serve as the Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Aura 360° Mining

Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.

Aura is a mid-tier gold and copper production company focused on operating and developing gold and base metal projects in the Americas. The Company has 4 operating mines including the Aranzazu copper-gold-silver mine in Mexico, the EPP and Almas gold mines in Brazil, and the San Andres gold mine in Honduras. The Company’s development projects include Borborema and Matupá both in Brazil. Aura has unmatched exploration potential owning over 630,000 hectares of mineral rights and is currently advancing multiple near-mine and regional targets along with the Serra da Estrela copper project in the prolific Carajás region of Brazil.