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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 sold 52.3 million lbs CuEq at cash costs of US$1.51/lb CuEq in 2022. CuEq sales were 16% higher than 2021, reflecting a full year of operations at expanded throughput capacity(1).

As of December 31, 2022, Aura disclosed the mineral resource and reserve estimates for Aranzazu as:(2)

December 31, 2022 Mineral Resource Estimate

   Tonnes    Grade    Contained Metal (Kt)
Classification Kt   Cu (%) Au (g/t) Ag (g/t) Cu (Klbs) Au (koz) Ag (koz)
Measured  10,200 1.44 1.03 21.54 324,591 339 7,062
Indicated 4,872 1.42 0.84 21.22 152,899 132 3,324
Measured & Indicated  15,072 1.44 0.97 21.43 477,490 471 10,386
Inferred 4,324 1.04 0.55 16.37 99,051 76 2,276

December 31, 2022 Mineral Reserve Estimate

   Tonnes    Grade    Contained Metal (Kt)
Classification Kt   Cu (%) Au (g/t) Ag (g/t) Cu (Klbs) Au (koz) Ag (koz)
Proven 5,949 1.25 0.86 17.56 163,979 165 3,358
Probable 3,623 1.19 0.72 17.69 95,025 84 2,061
Proven & Probable 9,572 1.23 0.81 17.61 259,004 249 5,419

Notes: