Aura Minerals Inc. announced updated Mineral Resources and Mineral Reserves for the Apoena Mines (?Apoena? or the ?Project?) located in Mato Grosso, Brazil, incorporating exploration and infill drilling completed during 2022 and 2023. Apoena (formerly known as EPP) consists of three active open pit mines (Ernesto, Lavrinha and Nosde), two past producing mines (Japones open pit and Pau-a-Pique underground mine) and several exploration targets.

The current estimate brings material updates for the Nosde and Lavrinha mines. The technical report (the ?Technical Report?) titled ?Apoena Mines Mineral Resource and Reserve?, prepared by Aura will be filed on SEDAR+ and CVM within 45 days of this press release. Nosde and Lavrinha Mines Mineral Resource and Reserve Estimates: Exploration and drilling at Apoena continued to deliver significant growth and extension of LOM.

The recent drilling campaigns incorporate approximately 53,315 meters of both expansion and infill drilling between 2022 and 2023, focused primarily on the Lavrinha and Nosde mines. Gold mineralization in Apoena mines and surrounding areas occurs in four zones, which consists of the Lower Trap (Ernesto mine), Middle Trap (Ernesto mine and Ernesto connection deposit), Upper Trap (Lavrinha and Nosde mines) and Bonus Trap (Nosde mine). The Upper Trap is widely developed in the Lavrinha and Nosde deposits and occurs in metapelitic rocks (hematite sericite schist) in dilation zones of the intensely deformed synclinal troughs.

The Upper and Middle Traps share similar alteration and mineralization suites between the two deposits, though the Upper Trap seems to be eroded in the Ernesto deposit area. Aura?s recent exploration successfully confirmed the connection of the Upper Trap zone between the Nosde and Lavrinha mines and added additional resources to the Mineral Resources inventory at Apoena. At the Nosde mine, infill drilling successfully converted Mineral Resources, and tested the continuity of mineralized bodies at 300 and 450 meters (Middle and Lower Traps, respectively), confirming an average depth of 380 meters.

The exploratory holes in the connection region between the Nosde and Lavrinha pits provided better understanding of local mineralization. Infill drilling at Lavrinha successfully converted Mineral Resources in the central area and NE ends of the pit and exploratory drilling tested and successfully confirmed the extent of the mineralized bodies at depth and between the Lavrinha and Nosde deposits. The geological layout of the Nosde and Lavrinha deposits is subdivided into 7 lithological domains from which two of them are mineralized.

The mineralized domains are Metarenites (MAR) of Bonus and Upper Traps and schists of Upper Trap. Within these two lithological domains, four mineralized models were constructed using 0.35 g/t Au (for Upper Trap domains) and 0.2 g/t Au (for Bonus Trap domain) gold grades as well as alteration and mineralogical constraints which were logged during several diamond drilling campaigns. Raw assay drilling data was composted to 2.0 m lengths with upper capping applied after compositing at 10.0 g/t Au for metarenites domains and 13.0 g/t Au for schist domain.

Ordinary Kriging method was used to interpolate the grade. Mineral Resources are classified in accordance with NI 43-101 and CIM definitions into Indicated and Inferred categories based on identified uncertainly and risks. Mineral Reserves amenable to open pit mining methods were estimated through an open pit optimization exercise using the Measured and Indicated Mineral Resources in the block model provided by Aura.

Mineral Reserves were reported within detailed engineered pit designs and life-of-mine (LOM) plans based on this pit shell. Exploration Potential: The Apoena mines are situated in the Middle Proterozoic Aguapeí belt, along the southwestern margin of the Amazon Craton, in the Sunsás-Aguapeí Province. The Guaporé gold belt exhibits a potential stretch of approximately 200 km in a NW-SE trend with an average width of 15 km.

The region boasts a history of four major mines that are currently operational or have been in operation previously, in addition to identified targets such as artisanal occurrences. Exploration and drilling are underway for near mine targets (proximal to the Ernesto Complex), such as the Cantina, Japones West, and Pombinhas targets. These targets show promising potential through indications of historical artisanal pits, grab samples, and some historical drill holes.

Aura expects that with additional drilling, particularly the in Japones West and Pombinhas targets, the Company can potentially establish Inferred Mineral Resources in 2024. Mapping, trenching, channel sampling, and drilling activities of regional targets (south and north of the complex) are underway to advance additional promising targets. Southern targets like BP and GP3, along with the Guaporé-Sararé target to the north, will be prioritized based on the latest results.