Ero Copper's Tucumã Project Achieves Major Milestone at Over 70% Physical Completion - On Track for First Copper Production in H2 2024

VANCOUVER, British Columbia, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (the “Company”) is pleased to provide an update on the excellent progress being made at the Company's Tucumã Project (the "Project").

Since commencing site works in 2022, all engineering, procurement and construction activities for the Project remain on schedule for first copper concentrate production in H2 2024. Total direct Project capital expenditures remain in line with current guidance of approximately $305 million. Project development highlights include:

• Construction: Physical construction of the Project is now 70% complete
  • Significant advancement in mine pre-stripping, with first sulphide ore on track to be reached in early November
  • All earthworks now completed, including the water storage reservoir, site drainage and run-of-mine stockpiles
  • Over 15,000 cubic meters of concrete poured (over 65% complete), concluding all major foundation requirements for the Project
  • Steel structure pre-assembly and erection tracking ahead of schedule with approximately 1,000 tonnes of steel already in place
  • Key pieces of processing equipment arrived on site with installations either concluded or ongoing, including the primary crusher, ball mill, secondary and tertiary crushers, vibrating screen decks and flotation cells
  • Main substation installed on site, primary e-room commissioned, and approximately 16 kilometer power line construction tracking ahead of schedule; tie-in to national grid power expected during Q4 2023 
  • Platework, piping and electrical cabling all commenced ahead of schedule
    
    
• People & Safety: Peak construction workforce successfully mobilized on the Project
  • Approximately 1,750 third-party contractors and employees working on site
  • To date, there have been no lost-time injuries on the Project, with approximately two million hours of work completed since 2022
    
    
• Commissioning: The Company remains on track to initiate the first phase of process plant commissioning by year-end and commence operations in H2 2024

Commenting on the progress, David Strang, Chief Executive Officer, said "First and foremost, I would like to congratulate each and every one of the approximately 1,750 people on site on the remarkable progress to date, and most importantly, for their dedication in achieving nearly two million hours of work without a lost time injury. With over 70% of the physical work completed, critical pieces of infrastructure in place or nearing completion, and main equipment installations progressing according to plan, we are confident that a major inflection point for the Project has been reached.