Mr. Rodrigo Barbosa reports

AURA ANNOUNCES THIRD QUARTER 2023 PRODUCTION RESULTS WITH 34% INCREASE

Aura Minerals Inc. has released the Q3 2023 preliminary production results from the company's four operating mines: Aranzazu mine, Ernesto/Pau-a-Pique mine (EPP), San Andres mine and Almas mine. Total production during Q3 2023 reached 64,875 gold equivalent ounces (GEO). Production increased in all operating mines versus the previous quarter.

Highlights:

• Total production in GEO increased by 34 per cent in Q3 2023 compared with Q2 2023, due to the commencement of commercial production in the Almas mine and higher production at the Aranzazu, San Andres and EPP mines. Compared with Q3 2022, production increased 12 per cent.
• At Aranzazu, production was 27,933 GEO, in line with the company's expectations. Production was 11 per cent higher compared with Q2 2023, due to higher tonnage and higher head grades. Compared with Q3 2022, production also increased by 7 per cent.
• At EPP, production was 11,185 GEO, 62 per cent 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 with Q3 2022, production decreased 38 per cent.
• At San Andres, production was 17,543 GEO for the quarter, representing a 7-per-cent increase compared with 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 with Q3 2022, production at San Andres increased by 25 per cent.
• 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 under way to increase the plant processing capacity for the coming quarters.

Rodrigo Barbosa, Aura's president and chief executive officer, 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

Production for the last 12 months as of Sept. 30, 2023, was 234,325 GEO, a 3-per-cent increase compared with the previous quarter.

Qualified person

The scientific and technical information contained within this news release has been reviewed and approved by Farshid Ghazanfari, PGeo, mineral resources and geology director for Aura Minerals, and the qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Aura Minerals Inc.

Aura is focused on mining in complete terms -- thinking holistically about how its business impacts and benefits every one of its stakeholders: the company, its shareholders, its employees, and the countries and communities it serves. Aura calls this 360-degree mining.

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