Mr. Rodrigo Barbosa reports

AURA ANNOUNCES SECOND QUARTER 2022 FINANCIAL AND OPERATIONAL RESULTS AND 2022 GUIDANCE UPDATE

Aura Minerals Inc. has filed unaudited consolidated financial statements and management discussion and analysis for the period ended June 30, 2022, and 2022 guidance update. The full version of the financial and operational results and the guidance can be viewed on the company's website or on SEDAR. All amounts are in U.S. dollars unless stated otherwise.

Q2 2022 highlights (compared with Q2 2021):

• Consolidated quarterly production of 55,645 of gold equivalent ounces (GEOs) in Q2 2022 and 121,175 GEOs for the first half of 2022. Production is now expected to be in the range of between 260,000 and 275,000 GEOs for 2022 full year, within the lower range of the previous guidance.
• The company has returned to its shareholders in the first half of 2022 over $15-million in cash between dividends and share and BDR (Brazilian deposit receipt) buybacks, which represents a yield of 3.4 per cent based on the closing price of the quarter. During the last 12 months the yield is 6.5 per cent.
• Total production decreased 7 per cent compared with Q2 2021 (59,834 GEOs without Gold Road) due to temporary lower recoveries at San Andres and working capital strategy to optimize cash flow at EPP.
• Revenues of $93,384, an 11-per-cent reduction, as a result of lower production and lower copper prices (minus 3 per cent).
• Gross margins were $29,006, a 32-per-cent decrease, as a result of lower production which also negatively impacted cash costs at EPP and San Andres.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $30,322, a 29-per-cent decrease, driven by lower production.
• Cash flow from operations was positive in Q2 2022, despite the temporary challenges; as a result, the consolidated net debt is negative at ($10,318) at the end Q2 2022, despite lower production, investments in the construction of the Almas project which consumed $10,199 in cash during the quarter, dividend payment of $10,188 and share buybacks of $5,388.
• Annual cash costs are now expected to be in the range of $803 to $853 per oz of for 2022 full year, compared with the previous guidance of $771 to $845 per oz. The increase is mainly attributable to the production reduction at San Andres, while inflationary pressures have been reasonably offset.
• In April, 2022, Aura entered into an agreement to acquire Big River Gold Ltd. and form a joint venture with Dundee Resources Ltd. The transaction is subject to certain precedent conditions (see press release dated April 19, 2022) and expected to close by September, 2022.
• In July, 2022, Aura released its 2021 sustainability report in accordance with Global Reporting Initiative (GRI) standards.
• In July, 2022, Aura completed the sale of Gold Road mine (see press release dated July 27, 2022). As a result, Gold Road debt of $25,000 was no longer consolidated at the end of the second quarter, improving the net debt position of the company.

Rodrigo Barbosa, chief executive officer of Aura, commented: "Aranzazu and EPP performed above expectations during the first six months of the year and, despite the challenges with metal recoveries at the San Andres mine and when added to an expected higher production during the second half of 2022, Aura expects to meet its initial production guidance. Moreover, we recently announced a semi-annual dividend payment and have returned more than $15-million to our shareholders in the form of dividends and share and BDR buybacks during the first half of 2022. Finally, we have been able to maintain our net cash position, which reinforces our strategy to invest in the growth of the company while maintaining our low leverage and paying dividends."

Guidance update

Aura is maintaining its second-half and full-year 2022 production guidance; however, the company has narrowed the range to 260,000 to 275,000 oz for 2022 full year, compared with 260,000 and 290,000 oz as expected previously. Factors that contributed to narrowing the range:

• Six months of actual results;
• Increased production at EPP and Aranzazu to between 70,000 and 75,000 and 115,000 and 120,000 GEOs, respectively, as a result of better-than-expected production in the first half of the year. Production at EPP is expected to remain strong and above expectation in H2 2022 as it reaches the high-grade Elephant zone at the Ernesto pit;
• Temporary lower recoveries at San Andres during the first half of the year, resulting in average production of 5,867 ounces. Production is now estimated to be between 75,000 and 80,000 oz (previously 88,000 to 99,000 oz), though recoveries in June have improved, and production of 7,232 ounces of gold was achieved, above the average of first half and consistent with the guidance expectation for the second half of 2022.

The attached table details the company's updated GEO production guidance for 2022 by business unit.

The attached table details the company's updated cash cost guidance for 2022 by business unit.

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: its company, its shareholders, its employees, and the countries and communities it serves. It 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 producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. In addition, the company has two additional gold projects in Brazil, Almas and Matupa, and one gold project in Colombia, Tolda Fria.

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