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ASX Announcement 25 February 2021 ASX : AMI aurelia METALS Ltd. RESULTS IMPROVEMENT AT EVERY LEVEL Aurelia Metals Limited ( ASX : AMI ) ( Aurelia or the Company ) has today reported its financial results for the half year ended 31 December 2020 ( H1 FY21 ) . HIGHLIGHTS Group Total Recordable Injury Frequency Rate ( TRIFR ) reduced by 26 % during H1 FY21 Gold production of 45,868 oz at group AISC of A $ 1,035 / oz ( H1 FY20 : 44,581 oz at A $ 1,358 / oz ) ■ Statutory net profit after tax ; increased by 27 % to A $ 19.8 million ( H1 FY20 : A $ 15.6 million ) ■ ■ ■ ■ Strong underlying net profit after tax ; increased by 164 % to A $ 41.1 million ( H1 FY20 : A $ 15.6 million ) Net mine cash flow increased by 425 % to A $ 62.3 million ( H1 FY20 : A $ 11.2 million ) Cash at balance date of A $ 105.8 million . Net Cash of $ 52.6 million¹ ( 30 June 2020 : A $ 79.1 million ) Acquisition of Dargues Gold Mine completed in December further increases Aurelia's weighting to gold Recently upgraded FY21 production guidance of 100 – 113 koz at group AISC of A $ 1,425 – 1,575 / oz Commenting on half year performance , Aurelia Managing Director and CEO , Dan Clifford , said : " The strong half year financial results and improved operating performance reflect Aurelia's focus on operating discipline driving margin . We also continue to seek opportunities to add value via the drill bit , with the ongoing exploration success at the Federation deposit evidenced by the updated resource release earlier this week . This has shaped up as a " game changing " half for Aurelia Metals . " The updated resource confirms Federation as one of the most significant discoveries in the Cobar Basin of recent decades . The scale of the deposit continues to grow and the tenor of the mineralisation is exceptional . The Federation Scoping Study remains on track for completion during the current quarter . " Integration of the Dargues acquisition has been smooth and we look forward to driving the ramp - up of that operation over the current half . This asset is expected to significantly improve Aurelia's group life - of- mine cost profile and further reweights portfolio revenues towards gold . We are also pleased to have now commenced intensive drilling of high - priority , high - potential resource extension targets at Dargues . " 1 Debt drawdown of A $ 45.0 million for Dargues acquisition and A $ 8.2 million of acquired leases ABN : 37 108 476 384 Level 17 , 144 Edward Street BRISBANE QLD 4000 GPO Box 7 BRISBANE QLD 4001 T : +61 7 3180 5000 E : office@aureliametals.com.au www.aureliametals.com.au