Aura Reports Updated Mineral Reserves and Mineral Resources

ROAD TOWN, British Virgin Islands, April 01, 2024 (GLOBE NEWSWIRE) — Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) is pleased to report updated Mineral Reserves and Mineral Resources (“MRMR”) for its four operating mines: Aranzazu Mine, Apoena Mines (formerly known as EPP), Minosa Mine (also known as San Andres) and Almas Mine, as well as its development projects including Borborema, Matupá as reported in the Annual Information Form for the year ended December 31, 2023 (“2023 AIF”). Readers are encouraged to read the 2023 AIF and Technical Reports (as defined herein), which have been filed on SEDAR+ at www.sedarplus.ca. Consolidated MRMR tables are noted below.

Rodrigo Barbosa, President and CEO of Aura commented, “We are excited to announce our latest Mineral Resources and Reserves (MRMR) update across our operations, marking an impressive increase across all categories, adding 2.4moz in M&I Resources and 856koz in P&P Reserves. This achievement is a result of our clear strategy to increase production while we increase our Resources and Reserves. In 2023, we published a new Feasibility Study on Borborema, which adds, for the moment, 83koz per annum in production during the first 4 years while it increases our Reserves by 814koz and 2.1mkoz on Resources. In addition, the probable relocation of the Federal Road at Borborema will unlock another significant amount of reserves. Furthermore, our efforts at Apoena have led to the largest reserves increase since 2017, when Apoena had 3 years of LOM; we operated for 7 years and now have a 5-year LOM. As an example, our efforts at Apoena have led to the largest reserves increase since 2017, when Apoena had 3 years of LOM; since then we operated for 7 years and now have a 5-year LOM. Another important example of our exploration success is Aranzazu, where we started production in the end 2018 with a 5-year LOM, operated for more than 5 years, increased capacity by 30%, and now have an 8-year LOM. With these successes and the significant expansion potential remaining at all our assets, we remain committed to prioritizing increasing exploration to create value for shareholders in the years to come.”

2023 AIF Highlights:

• Aura completed another robust exploration program totaling 114,074.37 meters of drilling with over US$24 million invested to increase MRMR and replace depleted ounces. Exploration efforts were conducted across all properties with the exception of Minosa, due to increased efforts on operating performance. Exploration is expected to resume at Minosa in 2024.
• Important contributions toward increased MRMR included the addition of the Borborema Project, following the completion of the previously announced feasibility study in August 2023 and significant growth at Apoena Mines, which saw its largest increase in Mineral Reserves in its operating history since 2017.
• Proven & Probable (“P&P”) Mineral Reserves increased 32% with 1.2M GEO added (before depletion). At the four operating mines, an increase of approximately 856k GEO (before depletion) exceeded 2022 depletion on a consolidated basis, with a net increase in P&P Reserves at Apoena, Aranzazu and Almas. Approximately 812k GEO was attributed to the Borborema Project.

• Measured & Indicated Mineral Resources increased 49% with 2.4M GEO added (before depletion/conversion). More than 100% of depleted metals were replaced at each of the sites with the exception of Minosa.

• Inferred Mineral Resources increased 27% with 221 kGEO added (after conversion), result of the addition of approximately 400k GEO attributed to the Borborema Project. The net reduction in Inferred Mineral Resources for the mines in production between 2022 and 2023 was primarily due to the successful conversion of Inferred Mineral Resources to M&I Mineral Resources at each of the sites with the exception of Minosa.

Additional Projects Updates:

• At the Serrinhas deposit, which is an exploration target at the Matupa project, a total of 12,026 meters were drilled in 43 holes, with exploration actively continuing in key targets in 2024. An updated Technical Report is anticipated before the end of 2024.
• At Serra da Estrela exploration Project (Aura Carajas), a total of 7,822.40 meters were drilled in 18 holes along a 5km strike to test mineralization continuity identified in previous exploration by Anglo Gold. The Company expects to release drill results during 2024 with a potential Technical Report in 2025.

Aranzazu, Mexico

At Aranzazu, the primary focus for infill drilling has been at the Glory Hole Zone (“GHZ”). The Company also focused on the new BW connection (“BWZ”), Cabrestante and Ezperanza zones. In 2023, a total of 24,840.65 meters of drilling were completed…