Aura Announces Acquisition of Pé Quente and Pezão Projects, Aiming to Add Mineral Resources and Reserves to the Nearby Matupá Project

ROAD TOWN, British Virgin Islands, May 22, 2024 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) is pleased to announce that it recently acquired, through its subsidiary Aura Matupá, the right to explore the Pé Quente and Pezão Projects (the “Projects”) in the State of Mato Grosso, Brazil (the “Acquisition”). The Projects consist of a total of 6 Mineral Rights and are located in the geological setting of Alta Floresta Gold Province and are within a 50 km radius of Aura’s Matupa Project and the X1 deposit (Figure 1), with a feasibility study published in November 18, 2022. The Projects have the same type of mineralization, representing important potential for increasing Mineral Resources and Mineral Reserves of the Matupá Project. Aura made an initial payment of US$500,000 and, if the results meet its expectations, Aura has the right, but not the obligation, to complete the acquisition in up to 12 months for US$9.5 million.

Figure 1: Pé Quente and Pezão Projects location in proximity to the Matupa Project and the X1 Deposit

Rodrigo Barbosa, President and CEO, commented, “The Matupá project is located in a highly productive region, known for its abundant artisanal mining activities. This project represents the first industrial-scale operation in the area, and from the outset, our goal has been to consolidate several nearby deposits into the Matupá project. By leveraging our scale, high recovery rates, and commitment to environmental and social standards, we believe that incorporating the Pezao and Pe-Quente projects into Matupá will result in a significant increase in resources and reserves through win-win situation for all stakeholders involved.”

Aura intends to invest approximately U$1.6M in 13,000 meters of drilling over the next 12 months. The program will focus on infill drilling and possible extensions aiming to confirm and validate the mineralization continuity and grades.

Projects Highlights

The Pé Quente Project is located approximately 34km from the X1 deposit and is made up of 4 Mineral Rights, totaling 19,592.78 hectares, which includes gold mineralization targets. Historical surface sampling, geophysical surveys and drilling were completed, with 97 holes drilled, totaling 11,781.60 meters. A historical mineral resource was calculated for Pé Quente in 2011 by Graben Mineracao SA. (current mining permit holder of property). The historical mineral resource derived from four separate mineralized zones indicating in situ resource potential 6,257,734 Tonnesgold at 1.28 g/t gold (257Koz.). The final exploration report including historical mineral resources was presented to Agencia Nacional de Mineração (ANM) in 2018. Historical mineral resources do not have any classification criteria and are not estimated following NI43-101 guidelines and therefore do not have any economic viability for further economic assumptions.