Aura Announces Strong Q1 2024 Production Results, 28% Above Q1 2023 and on track to deliver its 2024 Production Guidance

ROAD TOWN, British Virgin Islands, April 08, 2024 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) (“Aura” or the “Company”) is pleased to announce Q1 2024 preliminary production results from the Company’s four operating mines: Aranzazu, Apoena (EPP), Minosa (San Andres), and Almas. Total production in Q1 2024 reached 68,181 gold equivalent ounces (“GEO”)¹, stable compared to Q4 2023 and 28% above the same period of last year, mainly due to Minosa’s performance due to operational improvements in 2023, and Almas. At constant metal prices, production was stable compared to Q4 2023 and increased by 35% compared to Q1 2023.

Total production for Q1 2024 was either at or above the Company’s expectations across all its operating mines, which positions the Company to remain on track to achieve Consolidated Production Guidance of between 244,000 – 292,000 GEO for 2024.

Q1 2024 Highlights

• At Aranzazu, production was 25,001 GEO. Production was 5% lower compared to Q4 2023 and 5% above Q1 2023 at constant metal prices, due to mine sequencing and in line with the Company’s expectations, demonstrating its stability and consistent performance quarter after quarter.
• At Apoena (EPP), production was 12,105 GEO, 20% lower in Q1 2024 compared to the previous quarter and 5% below Q1 2023 due to lower grade fed in the plant and mine sequencing. Production was in line with the Company’s expectations, considering mine sequence, as there were remaining tonnes of Ernesto from last year, concluding its operations this quarter.
• At Minosa (San Andres), production was 19,186 GEO for the quarter, representing a 7% increase compared to the previous quarter and 36% increase over Q1 2023, mostly due to an increase in the volume of stacked ore and higher recovery rates. This marks the fifth consecutive quarterly increase in production due to an increased focus on operational efficiencies including the implementation of the stacking system during Q3 2023.
• At Almas, production in Q1 2024 reached 11,889 GEO, marking a 24% increase compared to the previous quarter. This notable improvement can be mainly attributed to a series of initiatives implemented at the mine operations aimed at recovering productivity and overcoming challenges faced during the third and fourth quarters of 2023.

Rodrigo Barbosa, Aura’s President and CEO commented, "Aura kicked-off 2024 on a positive note, as all mines operated at or exceeded the Company's expectations. Notably, both Minosa and Almas demonstrated our capacity to overcome operational challenges through enhancements and strategic initiatives aimed at bolstering mine performance, and we will continue to prioritize efforts across the rest of the assets.”