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Aura Minerals Inc (4)
Symbol ORA
Shares Issued 71,400,416
Close 2023-02-27 C$ 10.00
Market Cap C$ 714,004,160
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Aura Minerals acquires exploration project in Brazil

2023-02-27 10:08 ET - News Release

Mr. Rodrigo Barbosa reports


Aura Minerals Inc. has recently indirectly acquired exploration permits, known as the Serra da Estrela project, in the state of Para, Brazil, in the Carajas region. Aura has made an initial payment of US$3 million and if it elects to continue to explore the Serra de Estrela Project, further future payments will be required.

Serra da Estrela Project (Figure 1) is an exploration permit totaling 9,805 hectares, which includes iron oxide, copper, and gold ("IOCG") mineralization targets along a 6 km strike with a surface anomaly (up 500 ppm Cu). Prior work includes 9 historical mineralized exploration holes totaling 2,552 meters, previously drilled by Anglo American. Aura intends to undertake exploration activities to test the continuity and economic grades of the target. Carajas Mineral Province is one of the most important polymetallic districts in the world and hosts several IOCG deposits such as Sossego and Salobo Mines (owned by Vale), Pedra Branca, Igarape Bahia-Alemao, Cristalino, Gameleira and Alvo 118.

Rodrigo Barbosa, President & CEO, commented, "Aura is delivering its growth strategy of 86% growth by bringing online our three new mines in Brazil by 2025. Additionally, we continue to see excellent opportunities to grow our resource base by adding to our exploration pipeline. The addition of Serra da Estrela gives us potential long-term exposure to copper in the world class mining jurisdiction of Carajas, while our exposure to gold continues to grow."

About Aura Minerals Inc.

Aura is focused on mining in complete terms - thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360degree 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 EPP gold mine 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 gold projects in Brazil: Almas, which is under construction; Borborema and Matupa, which are in development; and Sao Francisco, which is on care and maintenance.

Qualified Person

Farshid Ghazanfari, P.Geo., Geology and Mineral Resources Director for Aura Minerals Inc. has reviewed and confirmed the scientific and technical information contained within this news release and serves as the Qualified Person as defined in National Instrument 43-101.

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