Aura Declares Dividend of US$0.25 per share to be Paid in December 2023

ROAD TOWN, British Virgin Islands, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) (“Aura” or the “Company”) announced today that the Company’s Board of Directors (the “Board”) has declared and approved the payment of a dividend (the “Dividend”) of US$0.25 per common share (approximately US$18 million in total). In accordance with the Company’s dividend policy (the “Dividend Policy”), the Dividend is in respect of and is based on Aura’s expected financial results for the six months ending on December 31, 2023.

Under the Dividend Policy, the Company’s annual dividend is equal to 20% of its estimated Adjusted EBITDA¹ for the relevant six months less sustaining capital expenditures and exploration capital expenditures for the same period. The amount of the Dividend is based on the actual results for Q3 2023 and the expected results for Q4 2023, including expected production, cash costs and sustaining and exploration capex for Q4 2023.

The Dividend will be paid to shareholders of record on December 19, 2023, as of the close of business on December 11, 2023 (“Record Date”). All shareholders of record will receive the Dividend in US dollars.

Holders of the Company’s Brazilian Depositary Receipts as of Record Date are expected to receive payment by December 30, 2023. They will receive the Brazilian Reais equivalent of the Dividend, based on a market exchange rate to be disclosed in a future Press Release, before its payment date.

The Dividend is not subject to withholding taxes at the time of payment by the Company.

Rodrigo Barbosa, President & CEO commented, "We're thrilled to announce that Aura is distributing its second dividend of 2023, amounting to US$ 18 million for this semester and reaching a total of US$ 28 million for the year. This marks our third consecutive year of rewarding shareholders, making us among the leaders in our industry for dividend payments. Over the past three years, we've returned US$ 143 million to our shareholders through dividends and share buybacks. In addition to these financial achievements, we've successfully built Almas, bought, and begun construction of Borborema, and made progress in Matupa. These efforts aim to increase our production to 450,000 GEO annualized by 2025, while we also embark on various exploration projects to increase our resources and reserves. All these initiatives are carried out while maintaining a strong, low-leveraged balance sheet. This not only demonstrates our robust cash flow but also reaffirms our commitment to delivering value to our shareholders and upholding the highest standards in our ESG practices.”