Mr. Rodrigo Barbosa reports

AURA IMPLEMENTS GOLD HEDGING PROGRAM FOR THE BORBOREMA PROJECT AND SECURES MORE THAN US$14 MILLION TOWARDS THE PROJECT CONSTRUCTION

Aura Minerals Inc. has implemented a gold hedging program for the Borborema project to derisk and secure the return on capital invested during the first three years of production at Borborema.

Highlights of the hedging program:

• Aura has hedged about 215,000 ounces of gold between July, 2025, to June, 2028 (the period), using gold collars established with several financial institutions. The derivatives were booked at Aura's corporate level, and the total volume is not projected to exceed about 20 per cent of Aura's expected consolidated gold production for the period, significantly decreasing the risk of potential overhedging.
• Aura purchased put options that will expire monthly over the period, at a strike price of $1,745 (U.S.) per ounce, with the goal of ensuring that at least 80 per cent of the production during the first three years of production will be sold at approximately the price, or above the price, used as the base case in the feasibility study dated Oct. 5, 2023, and entitled "Feasibility Study Technical Report (NI 43-101) for the Borborema Gold Project, Currais Novos Municipality, Rio Grande do Norte, Brazil," which is available on Aura's profile on SEDAR+.
• Aura sold call options that will expire monthly over the period at a strike price of $2,400 (U.S.) per ounce, ensuring upside exposure to the gold price.
• Aura has received or will receive premium payments from the counterparties, totalling approximately $14.5-million (U.S.).
• The premium payments of $14.5-million (U.S.) will supplement the $100-million (U.S.) already secured through a term loan established with Banco Santander Brazil, to partially finance the construction of the Borborema project.
• The results of the feasibility study were released on Aug. 30, 2023, and indicated, among other things:
  • Estimated initial capital expenditures of approximately $188-million (U.S.). Payback period estimated at 3.2 years after completion of construction, based on a weighted average consensus gold price of approximately $1,712 (U.S.), for all operational years.
  • Aura currently expects that construction will be completed by February, 2025, and that commercial production will be achieved by Q3 2025.

Rodrigo Barbosa, Aura's president and chief executive officer, commented: "We have effectively executed a hedging program for the Borborema project. This strategy seamlessly aligns with our capital allocation and risk management approach. By doing so, we are not only ensuring a minimum price that enables cash flows to cover both debt and equity investments, but also curbing the overall capital requirements for the construction phase."

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 a 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.

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 four 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 Matupa, 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 Carajas region of Brazil.

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