Mr. Rodrigo Barbosa reports

AURA ANNOUNCES FINAL APPROVAL FOR ACQUISITION OF BIG RIVER

The Supreme Court of Western Australia has made its decision approving the proposed scheme of arrangement, pursuant to which Borborema LLC, an indirect wholly owned subsidiary of Aura Minerals Inc. (BidCo), will acquire all the shares of Big River Gold Ltd. Holders of Big River shares, other than Dundee Resources Ltd., will receive 36 Australian cents in cash for each Big River share held. Aura will hold its interest in BidCo through an intermediate holding company (JVCo) and Dundee Resources has agreed, subject to certain limited conditions, to receive shares in JVCo, in lieu of the cash consideration in order to indirectly maintain an equity interest in Big River.

Highlights:

• The final regulatory step for the approval of the acquisition by Aura of Big River, owner of the Borborema gold project, is concluded and the transaction was approved by the court.
• Implementation of the transaction, which includes the disbursement of cash consideration and the acquisition of Big River shares by JVCo, is expected to occur on Sept. 20, 2022.
• As previously announced on April 19, 2022, Aura will acquire Big River and will form an 80-per-cent/20-per-cent joint venture with Dundee Resources.
• Borborema will add 8.2 million tonnes at a grade of 1.22 grams per tonne gold (320,000 ounces) to measured mineral resources, 42.8 Mt at a grade of 1.12 g/t Au (1.55 million oz) to indicated mineral resources and 17.6 Mt at grade of one g/t Au (570,000 oz) to inferred mineral resource to Aura's portfolio, representing a 40-per-cent increase to measured and indicated mineral resources and 33-per-cent increase to inferred mineral resources to Aura's portfolio.
• Project construction is fully licensed.
• Possibility of increasing the throughput of plant.
• Logistical facilities and cities with good infrastructure nearby.
• Aura expects to review the project and complete a feasibility study in compliance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects on the Borborema project by the end of 2022/early 2023.
• On a preliminary basis and subject to completion of and confirmation in the Borborema FS, Aura expects to be able to start construction of the Borborema project by 2023 and start production by 2025.
• Metallurgical process proposed is conventional carbon-in-pulp (CIP) gold extraction, with well-tested technology.

Rodrigo Barbosa, Aura's president and chief executive officer, commented: "I am proud to see the transaction fully approved and to now work towards implementation and partnering in the development of Borborema with Dundee Resources, a reputable investor in North America. We have completed a significant amount of due diligence on Borborema; it has advanced geology which will increase our current measured and indicated mineral resources by 40 per cent through an easy-to-build and -operate project (open pit). During the coming months, we will advance our studies and look for opportunities to optimize the project and initial studies performed by Big River. We look forward to progressing yet another project in our portfolio toward construction and will inform the market about our plans, targeting to start construction in 2023."

Borborema gold project

Borborema is a greenfield open-pit gold project, located in the municipality of Currais Novos, Rio Grande do Norte state, in the northeast of Brazil, with over 1.87 million ounces of gold of JORC-compliant measured and indicated mineral resource and additional 570,000 ounces of gold of inferred mineral resource.

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. 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 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.

Advisers and counsel

Canaccord Genuity Corp. is acting as exclusive financial adviser, Gowling WLG (Canada) LLP is acting as Canadian legal adviser, and King & Wood Mallesons is acting as Australian legal adviser to Aura.

Cassels Brock & Blackwell LLP is acting as Canadian legal adviser, and Blackwall Legal LLP is acting as Australian legal adviser to Dundee Resources.

Big River has appointed NextLevelCorporate as its financial adviser and MinterEllison as its legal adviser.

The technical information in this press release was reviewed by Farshid Ghazanfari, a qualified person who is a registered member of the Professional Geoscientists Ontario, a recognized professional organization. Mr. Ghazanfari is director of mineral resources and geology and a qualified person to Aura. Mr. Ghazanfari has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration to qualify as a QP for the purpose of National Instrument 43-101 in Canada.

We seek Safe Harbor.