Aura Minerals Announces Normal Course Issuer Bid and Concurrent Buyback Program for Brazilian Depositary Receipts

ROAD TOWN, British Virgin Islands, March 14, 2024 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA32) (OTCQX: ORAAF) ("Aura Minerals" or the “Company”) announces today that the Toronto Stock Exchange (the "TSX") has accepted the Company's notice of intention to launch a normal course issuer bid (the "NCIB") for its issued and outstanding common shares (the "Common Shares") listed on the TSX. The Company is also announcing the concurrent launch of a buyback program (the "BDR Buyback Program") for its Brazilian depositary receipts (the "BDRs") which are listed on the B3 S.A. – Brasil, Bolsa, Balcão (the "B3"), for the purchase of BDRs by the Company, its subsidiaries or investment vehicles.

Rodrigo Barbosa, Aura Minerals' President, and CEO, comments: “Aura has consistently delivered sector-leading dividends in the precious metals space over the past three years, surpassing our policy in certain cases, while substantially growing our assets and production profile. The re-institution of our NCIB and BDR buyback programs reaffirms our commitment to providing value-enhancing growth opportunities for our shareholders.”

NCIB

Under the NCIB, Aura Minerals may, if considered advisable, repurchase through the facilities of the TSX and/or alternative Canadian trading systems, from time to time during the currency of the NCIB, up to an aggregate of 2,261,426 Common Shares (less the number of BDRs purchased under the BDR Buyback Program), representing 10% of the “public float” (within the meaning of the rules of the TSX) as of March 6, 2024, subject to the normal terms and limitations of such bids. The Company may commence purchases of Common Shares under the NCIB on March 18, 2024, and the NCIB will remain in effect until the earliest of: (i) March 17, 2025, (ii) the date upon which Aura Minerals acquires the maximum number of Common Shares permitted under the NCIB, and (iii) the date upon which Aura Minerals provides written notice of termination of the NCIB to the TSX.

Under the TSX rules, the Company may purchase up to 2,657 Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 10,631 Common Shares on the TSX during the six months ended February 29, 2024, other than purchases made pursuant to the block purchase exception. The actual number of Common Shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by the management of the Company, subject to applicable law and the rules of the TSX.