Feasibility Study Completed For Matupa Gold Project

ROAD TOWN, BRITISH VIRGIN ISLANDS - Aura Minerals Inc. reported on the Feasibility Study for the Matupa Gold Project located in Mato Grosso, Brazil. Matupa will be an open pit gold mine and is situated in the Alta Floresta Gold Province, a prolific region with large companies operating and exploring in the area. The technical report will be filed within 45 days of this release.

The Project encompasses an area surrounding the municipalities of Matupa and Guaranta do Norte, approximately 700 km north of Cuiabá, the Mato Grosso State capital, and 200 km north of Sinop, an important commercial center and fourth largest city in the state in terms of total population.

The Company has increased its mineral rights position in 2020 and 2021 from 28,674 hectares to 62,506 hectares, holding the mineral rights for nine properties, of which three of those cover an area of 15,000 hectares located within the existing mining concession (X1, Guaranta Ridge and Serrinhas deposits). Another six properties totaling 47,000 hectares are under Exploration Permit, all in the prolific Juruena-Teles Pires Gold Province, where many gold deposits and occurrences exist. The Company believes Matupa has the potential to increase mineral resources and mineral reserves in certain areas within its existing permits with additional exploration activities. Such potential increases have not been incorporated in the Feasibility Study.