Aura Minerals Announces Updated San Andres Mine NI 43-101 Showing an Increase in Mineral Reserve and Mineral Resource Estimates - Seite 3

Additional Highlights

In updating the Mineral Resource and Mineral Reserve estimates, the Company reinterpreted its geological models, updated the geological database and updated the mine design parameters. During the course of 2012 and 2013 resource delineation drilling, geological mapping and data quality programmes of the Cerro Cortez, Cerro Cemetery, Twin Hills and East Ledge areas have significantly improved the size and confidence in the oxidation horizons, mineralization controls and data density for the Mineral Resource model estimation. Two key changes to the previous Mineral Resource model estimation were to the geological models and the inclusion of production blast hole samples into the Mineral Resource. The use of the production blast holes has been supported by a detailed reconciliation of the resource models and significantly helps with short range local variability. Appropriate validations were undertaken to ensure that the block model adequately represents the informing composite data.

The updated Mineral Resource and Mineral Reserve estimates included infill and step-out drilling of an additional 273 holes consisting of 23,963 metres of drilling, changes in operating cost estimates and updated metal prices originally included in the San Andres technical report dated March 28, 2012 (effective as of December 31, 2011).

Negotiations have been ongoing with the surrounding communities and an agreement reached with the local community to relocate a cemetery has also enabled San Andres to include additional Mineral Reserves, which had previously been classified as Mineral Resources.

In addition to the above, the Company has implemented a small, but effective capital expansion programme. The crushing system at San Andres was upgraded to enable increased efficiency, stable throughput and product quality, and the Company expects to realize the benefits of this throughout the remainder of 2014 and into the future. Previous to the upgrade, nominal yearly throughput was approximately 5 Mt, whereas planned tonnage going forward is 7 Mt of processed material per year. Due to the higher feed rate, there is a reduction in operating costs.

Qualified Persons and NI 43-101 Technical Report

The Mineral Resource and Mineral Reserve estimates were prepared by or under the supervision of Bruce Butcher, P. Eng., the Company's VP Technical Services and Ben Bartlett, FAusimm., the Company's Manager, Mineral Resources, both Qualified Persons as that term is defined in NI 43-101. Each of the Qualified Persons have reviewed and approved the written disclosure contained in this news release including any sampling, analytical and test data underlying the information contained in this news release.