Mr. Rodrigo Barbosa reports

AURA ANNOUNCES Q4 2023 PRODUCTION RESULTS, 7% ABOVE Q3 2023

Aura Minerals Inc. has released Q4 2023 preliminary production results from the company's four operating mines: Aranzazu mine, EPP mines (Apoena operation), San Andres mine (Minosa operation) and Almas mine. Total production in Q4 2023 reached 69,194 gold equivalent ounces (GEO), a 7-per-cent increase compared with Q3 2023 as a result of improved operating performance at three mines, Apoena (EPP), Minosa (San Andres) and Almas. When compared with the same period last year, production increased by 2 per cent mainly due to Almas achieving commercial production in August, 2023.

Total production for 2023 reached 235,856 GEO at current prices, within the range of the Q3 2023 MD&A (management's discussion and analysis) consolidated production guidance of between 231,000 to 253,000 GEO for 2023.

Q4 2023 highlights

• At Aranzazu, production was 26,532 GEO. Production was 2 per cent lower compared with Q3 2023 and 1 per cent above Q4 2022 at constant prices, due to mine sequencing and in line with the company's guidance.
• At Apoena (EPP), production was 15,217 GEO, 36 per cent higher in Q4 2023 compared with the previous quarter as the high-grade Ernesto pit was accessed and a lower volume of existing low-grade stockpiles were processed. Despite this increase, production was still influenced by the adverse impact of rains during Q3 2023. Aura anticipates mining to continue in Ernesto during Q1 2024 with improving production rates. Compared with Q4 2022, production decreased 43 per cent when record production was achieved as a result of the beginning of accessing phase II in the Ernesto pit.
• At Minosa (San Andres), production was 17,854 GEO for the quarter, representing a 2-per-cent increase compared with the previous quarter and an increase of 47 per cent over Q4 2022. This represents the fourth quarterly increase in production in a row, due to the higher stacked tonnage resulting from the upgrade in the stacking system in Q3 2023.
• At Almas, production was 9,591 GEO, representing the first full quarter of production. Despite the lower volume than expected in the quarter, mine performance improved by 93 per cent between October and December, with 584,000 tons moved in October, 731,000 tons in November and 1,128,000 tons in December, achieving stable performance levels as expected in 2024.

Since commencing commercial production in August, 2023, results have exceeded market benchmarks. Furthermore, upgrades in infrastructure are under way to increase the plant processing capacity for the upcoming quarters.

Rodrigo Barbosa, Aura's president and chief executive officer, commented: "We have made considerable progress in the fourth quarter, with production enhancements across multiple operations and achieved our highest quarterly production in 2023, reaching 69,000 GEO. Production at Apoena significantly improved once we reached again the Ernesto pit and pushed some of the higher grades to early 2024. At Minosa, we stabilized the mine and achieved four consecutive quarters of production improvements. At Aranzazu, we maintained a high performance level during the quarter, with stable production. Despite minor setbacks at Almas due to lower performance when we reached fresh rock, we have addressed all issues and finished December with mine productivity according to plan, setting the stage for a successful start to 2024. We are now well positioned to continue improving our overall performance while simultaneously advancing construction at the Borborema project and finalizing licensing for Matupa."

Production results

Preliminary GEO production volume for the three months ended Dec. 31, 2023, when compared with the previous quarter and the same period of the previous year is presented in the attached table.

Production for the last 12 months (LTM) as of Dec. 31, 2023, was 235,856 GEO. In LTM, production increased for the second quarter in a row, a trend the company expects to continue throughout 2024 as a result of production from Almas. The attached chart shows the quarterly consolidated GEO production measured in current and constant prices since Q4 2021, as well as the LTM at the end of each reporting period.

The attached table shows production by each type of metal at Aranzazu. Production was in line with the company's expectations and stable at constant metal prices.

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 serve as 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.

Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The company's four producing assets include the San Andres gold mine in Honduras, the EPP and the Almas gold mines in Brazil, and the Aranzazu copper-gold-silver mine in Mexico. In addition, the company has the Tolda Fria gold project in Colombia and four projects in Brazil: Borborema and Matupa, which are in development; and Sao Francisco, which is on care and maintenance. The company also owns the Serra da Estrela copper project in Brazil, Carajas region, under exploration stage.

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