Nova royalties banner

title

Aranzazu Copper-Gold-Silver mine, Zacatecas, Mexico

Project:

Aranzazu Copper-Gold-Silver mine

Status:

Producing

Location:

Zacatecas, Mexico

Ownership:

100% owned by Aura Minerals Inc. (“Aura”)

Royalty:

1.00% net smelter return royalty covering a ~1,440 hectare area, which includes the location of the existing underground mine and entire mineral resource and reserve estimates for Aranzazu.

Aura disclosed that Aranzazu produced 9.5 Mlbs CuEq at cash costs of $1.90/lb CuEq during Q2 2021 and 11.7 Mlbs CuEq at cash costs of $1.46/lb CuEq during Q1 2021. Aura further disclosed the production guidance range for Aranzazu for the second half of 2021 is calculated as 22.8 and 27.5 Mlbs CuEq.(1)

As of December 31, 2020, Aura disclosed the mineral resource and reserve estimates for Aranzazu as:(2)

December 31, 2020 Mineral Resource Estimate

   Tonnes    Grade    Contained Metal (Kt)
Classification Kt   Cu (%) Au (g/t) Ag (g/t) Cu (Klbs) Au (koz) Ag (koz)
Measured  9,544 1.47 1.14 20.75 310,167 350 6,367
Indicated 2,483 1.27 1.04 18.63 69,408 83 1,487
Measured & Indicated  12,027 1,43 1.12 20.31 379,575 433 7,854
Inferred 3,497 1.45 0.98 19.82 111,816 110 2,229

December 31, 2020 Mineral Resource Estimate

   Tonnes    Grade    Contained Metal (Kt)
Classification Kt   Cu (%) Au (g/t) Ag (g/t) Cu (Klbs) Au (koz) Ag (koz)
Proven 5,424 1.36 1.02 18.29 162,705 178 3,189
Probable 850 1.33 1.03 19.23 24,924 28 525
Proven & Probable 6,274 1.36 1.02 18.41 187,629 206 3,714

Notes: