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November 2025 www.auraminerals.com DIVERSIFIED, GROWING GOLD AND COPPER PRODUCER NASDAQ: AUGO | B3: AURA33
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Cautionary Statements 2 This presentation relating to Aura Minerals Inc. (the "Company") has been prepared solely for informational purposes and is to be maintained in strict confidence. You may not disclose any information contained herein to any other parties without the Company's prior express written permission. The Company has publicly filed a registration statement (including a preliminary prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this presentation relates. No such registration statement has become effective as of the date of this presentation. Any offering of securities by the Company will only be made by means of a registration statement (including a prospectus) filed with the SEC, after such registration statement becomes effective. Before you invest, you should read the prospectus in that registration document and other documents that the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus related to the offering may be obtained, when available, from BofA Securities, Inc., 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department. This presentation shall not constitute an offer to sell or a solicitation of an offer to buy securities or an invitation or inducement to engage in investment activity nor shall there be any sale of securities in any jurisdiction in which such offer, so licitation or sale would be unlawful prior to registration or qualification of such securities under the securities law of any such jurisdiction. Forward-looking Statements This presentation contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information. Forward-looking statements and forward-looking information in this presentation may relate to, among other things: regulations and suspensions with respect to the Company’s operations, the strategic vision for the Company and expectations regarding expanding production capabilities and future financial or operational performance, Aura’s production and cost guidance; conversion of mineral resources to mineral reserves, and the Company’s ability to successfully advance its growth and development projects. Forward-looking statements or information generally identified by the use of the words “believe”, “will”, “advancing”, “strategy”, “plans”, “budget”, “anticipated”, “expected”, “estimated”, “target”, “objective” and similar expressions and phrases or statements that certain actions, events or results “may”, “could”, “should”, “will be taken” or “be achieved”, or the negative connotation of such terms, are intended to identify forward-looking statements and information. Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. The Company has based these forward-looking statements and information on the Company’s current expectations and projections about future events and these assumptions include: the economic viability of a project; strategic plans, including the Company’s plans with respect to its properties; the amount of mineral reserves and mineral resources; the amount of future production over any period; the amount of waste tonnes mined; the amount of mining and haulage costs; cash operating costs per gold equivalent ounce produced; cash operating costs per copper pound produced; operating costs; strip ratios and mining rates; expected grades and ounces of metals and minerals; expected processing recoveries; expected time frames; prices of metals and minerals; mine life; gold hedge programs; the ability of the Company to successfully maintain operations at its producing assets, or to restart these operations efficiently or economically, or at all; and the ability of the Company to continue as a going concern. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this presentation. The Company cautions that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements and information contained in this and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: gold and copper or certain other commodity price volatility; changes in debt and equity markets; the uncertainties involved in interpreting geological data; increases in costs; environmental compliance and changes in environmental legislation and regulation; interest rate and exchange rate fluctuations; general economic conditions; political stability and other risks involved in the mineral exploration and development industry. Forward-looking statements and information are designed to help readers understand management’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement or information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements and information. If the Company updates any one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements. All forward-looking statements and information in this presentation are qualified in their entirety by this cautionary statement. We urge you to read the preliminary prospectus (filed as part of the registration statement on Form F-1 filed by the Company with the SEC (Registration No. 333-287864, as amended), including the uncertainties and factors discussed under “Risk Factors,” completely and with the understanding that actual future results may be materially different from expectations. Non-IFRS Measures This presentation includes financial information prepared in accordance with International Financial Reporting Standards (“IF RS”) as issued by the International Accounting Standards Board. IFRS differs from the United States generally accepted accounting principles, or “U.S. GAAP,” in certain material respects and therefore may not be comparable to financial information present ed by U.S. companies. This presentation also includes non-IFRS financial information, which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with IFRS. There are a number of limitations related to the use of these non-IFRS financial measures and their nearest IFRS equivalents. For example, the Company’s definitions of non-IFRS financial measures may differ from non-IFRS financial measures used by other companies. For a reconciliation of these non-IFRS financial measures to the most directly comparable IFRS measure, see the preliminary prospectus (filed as part of the registration statement on Form F-1 filed by the Company with the SEC (Registration No. 333-287864, as amended), under “Summary Consolidated Financial and Other Data — Reconciliation of Non-IFRS Accounting Standards Financial Measures.” Market and Industry Data This presentation includes market and industry data and forecasts that the Company has derived from independent consultant reports, publicly available information, various industry publications, other published industry sources, and its internal data an d estimates. Independent consultant reports, industry publications and other published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. Although the Company believes that these third- party sources are reliable, it does not guarantee the accuracy or completeness of this information, and the Company has not independently verified this information. The Company’s internal data and estimates are based upon information obtained from trade and business organizations and other contacts in the markets in which the Company operates and management’s understanding of industry conditions. Although the Company believes that such information is reliable, it has not had this information verified by any independent sources. In addition, the information contained in this presentation is as of the date hereof (except where otherwise indicated), and the Company has no obligation to update such information, including in the event that such information becomes inaccurate or if estimates change. Subsequent materials may be provided by or on behalf of the Company in its discretion and such information may supplement, modify or supersede the information in these materials. Neither the Company, nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss or damage howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials.
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DRIVEN BY PURPOSE AND PERFORMANCE Well-run diversified gold and copper portfolio with a well-balanced mix of operating and development assets 6 operating mines(1), 1 project in development and 2 exploration projects Proven track record of value creation through several sources More than US$514 million of capex since 2022, increasing reserves (P&P) by~20%, returning US$276 million to shareholders in dividends and buybacks since 2021 (dividend yield of 7.4% in Q3 25 LTM) while maintaining a low leverage (<1.0x Adjusted EBITDA) High return and cash generation, consistently beating market growth expectations Adjusted EBITDA of US$ 152 million on Q3 (at $3,473 / Oz) or US$419 million in Q3 25 LTM (at $3,068/oz gold prices)(2) and adjusted FCF LTM of US$229 million(3) Cash Conversion(4) of 55%, alongside high returns, such as Borborema IRR of 32% at a gold price of $2,259/oz, Matupá IRR of 40% at a gold price of $1,995/oz, and Almas NPV of US$452mm at a gold price of $2,212/oz with a construction capex of US$76mm Clear path to continue adding production ounces from several actionable growth initiatives Since 2018, Aura has delivered 117% production growth through operational efficiencies, development and inorganic expansion while maintaining attractive exploration upside at competitive costs (Aura’s AISC is below industry’s average). Company started the commercial production at Borborema with an annual production of 83k oz(5) (average for the first 3 years) and additional ounces from MSG acquisition post closing in Q4 2025 High performance team, Aura’s best asset Building a team and culture committed to excellence while optimizing execution and fostering innovation 1. Includes the Mineração Serra Grande (“MSG”) announced acquisition, which is subject to the fulfilment of certain conditions precedent. 2. Source: Bloomberg. 3. Calculated as net cash generated by operating activities less additions to property, plant and equipment deducted by additions defined as expansion capex. 4. Cash Conversion is calculated as Net cash generated by operating activities less Adjusted Capex divided by Adjusted EBITDA. 5. Borborema average of production for the first three years based on the S-K 1300 Feasibility Study Report dated on March 28, 2025. 3
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Backed by a strong balance sheet with low leverage, broad network of banking relationships, and increasing free cash flow to support sustainable growth A gold and copper mining company with a business building culture and focused on project development in the Americas Structured to grow by developing and improving high-value projects and ensuring return for its shareholders Q3 25 LTM Production 264,819 GEO Aura At-a-Glance Mines in Operation Exploration Projects Projects in Development Care & Maintenance 6 2 1 2 Borborema RN, Brazil Aranzazu Zacatecas, Mexico Minosa Copan, Honduras Tolda Fría Caldas, Colômbia São Francisco MT, Brazil Matupá MT, Brazil Carajás PA, Brazill Almas TO, Brazil Apoena MT, Brazil Era Dorada Jutiapa, Guatemala 4 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Q3 25 LTM(1) Revenue Breakdown (% of Total Revenue) By Country By Mine Mexico Almas Minosa Aranzazu Honduras Brazil Apoena 1. Last Twelve Months (LTM) information is calculated by adding Q4 2024 financial information plus 9M 2025 financial information. 2. The Transaction is subject to the fulfilment of certain precedent conditions. 3. Estimated based on Aranzazu’s production of copper, gold, silver and molybdenum in the last 12 months Mineração Serra Grande (“MSG”)(2) GO, Brazil 33% 14%28% 20% 5% 28% 33% 39% Borborema By Product(3) 78% 19% Gold Copper Others 3%
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com High Quality Assets and Projects Strong Balance Sheet Business-Building Culture Generating value with high-quality assets and further development of advanced-stage projects Low leverage (0.15x(1)), broad network of banking relationships, and increasing free cash flow to support sustainable growth Building a team and culture to support an evolving business committed to excellence • Realignment of portfolio 2017- 2020 (Serrote, Almas, Matupá) • Borborema • Carajás • Era Dorada • MSG • Dual listed / US and Brazil • 12 banks in total • Bank Loans, Bonds, Royalties, Gold Loan Aura 360: • 385 evaluations in 2025 (30% higher compared to 2024) • 80% of internal promotions for Director positions (senior leadership) • 37% of internal promotions for medium management positions 1. Net Debt/Adjusted EBITDA Q3 25. 2. Fully licensed for an underground project 3. Includes exploration expenses and exploration CapEx Developing Existing Projects Advance Exploration Re-Rating − Almas delivered on time & on budget − Borborema delivered on time & on budget no LTI − Matupá fully licensed at FS level − Era Dorada fully licensed(2) FS expected to Dec/25 − Carajás with promising results − Serra Grande pending closing and optimization (cost reduction and production increase) − $79 million invested in Exploration(3) from 22-24, expanding mineral R&R at competitive costs − Matupá with Serrinhas, Pézão and Pé Quente − Carajás in Progress − Relevant Upsides: Almas UG, Borborema, Apoena − Growth: Development of current projects (brownfield and greenfield) + Potential M&As. Peers change during next years − Daily traded volume increased to US$ 30 million/day 5 Built for Growth Combined with Dividends Since 2017, Aura has transformed under new shareholders, board, and management, driven by a clear strategy and disciplined execution…
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 0 5 10 15 20 25 30 35 40 45 jan-16 jan-17 jan-18 jan-19 jan-20 jan-21 jan-22 jan-23 jan-24 jan-25 6 Share Price Performance Underpinned by a Resilient Business Strategy ($ per share) Transformation Phase Growth Phase Business-Building CultureHigh Quality Assets and Projects Strong Balance Sheet Track Record of Delivering Shareholder Value …we are now harvesting the results of these efforts, with much more growth and value creation to come. Current Plan Acquisition by Northwestern Enterprises New Management and Board Merger with Rio Novo Gold and Sale of Serrote Aranzazu Commercial Production Gold Road Acquisition Brazil IPO Ernesto Commercial Production Issuance of R$400mm Senior Notes #1 Ranking on TSX Almas Construction Borborema Acquisition Sale of Gold Road Matupa Feasibility Almas Commercial Production Bluestone Acquisition Borborema Commissioning Record Q3 25 LTM Adjusted EBITDA of $419mm NASDAQ IPO Mineração Serra Grande Acquisition(1) Era Dorada Preliminary Economic Assessment Filing Source: Bloomberg November 2025 1. The Transaction is subject to the fulfilment of certain conditions precedent. Borborema Construction nov-25 Aura delisted from the TSX Aura Announces Commercial Production at Borborema
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 122 236 267 265 2018 2023 2024 Q3 25 LTM 276 Performance accelerated after Borborema’s commercial production, achieved in Q3 25 Production (000 GEO¹)Strong performance stemmed from robust production growth, stringent cost discipline, and elevated metal prices Production (‘000 GEO (1) ) Cash Cost(2) (US$/GEO (1) ) AISC(3) (US$/GEO (1) ) 1.043 1.041 987 1.110 2023 2024 Q3 24 Q3 25 1.325 1.320 1.292 1.396 2023 2024 Q3 24 Q3 25 +119% +93% Net Revenues (US$mm) Free Cash Flow and Cash Conversion (US$mm, %) Adjusted EBITDA1, EBITDA Margin and Net Debt/EBITDA (US$mm, %, x) 158 417 594 772 2018 2023 2024 Q3 25 LTM 22 134 267 419 2018 2023 2024 Q3 25 LTM 5 80 178 230 2018 2023 2024 Q3 25 LTM +389% +1,804% +4,480% Avg. Gold Price LTM 25: US$3,068/oz EBITDA Margin Cash Conversion 14% 32% 22% 60% 45% 67% Strong Results 1. Gold equivalent ounces, or GEO, is calculated by converting the production of silver and copper into gold using a ratio between the prices of these metals and gold. The prices used to calculate it at such proportions are based on the weighted average price of each of the metals obtained from sales at the Aranzazu Complex during the relevant period. 2. Refers to cash operating costs per gold equivalent ounce produced. It is a non-IFRS measure. See applicable reconciliation to IFRS in the Management’s Discussion and Analysis accompanying our financial statements filed on SEDAR+ at www.sedarplus.ca. 3. Refers to all in sustaining costs per gold equivalent ounce produced. It is a non-IFRS measure. See applicable reconciliation to IFRS in the Management’s Discussion and Analysis accompanying our financial statements filed on SEDAR+ at www.sedarplus.ca. 7 +117% 67% 54% AISC constant Q3 2024 metal prices: $1,324 Increase in AISCs in Aranzazu and Minosa, in line with the Company’s expectations and within the 2025 Guidance range
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.comwww.auraminerals.com Competitive Cost Structure Aura's AISC is gaining competitiveness, driven by rigorous cost control and the favorable economics of its new Almas and Borborema projects. More to come… Global AISC Curve in 2025e(1) ($/GEO) 8 3.000 2.500 2.000 1.500 1.000 500 0 1,604 1,164 1,628 1,717 1,4861,4381,296 2025e ($ 1,417) First Quartile Second Quartile Third Quartile Fourth Quartile MSG todayMatupá Era Dorada 1. Considers Q2 Metal Focus Report. AISC from Projects are based on latest Feasibility Studies (Era Dorada, Matupá) and Acquisition Model (MSG).
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 1.110 1.078 1,191 CASH COST GUIDANCE 1.396 1.374 1,492 AISC GUIDANCE 265 266 300 Categoria 1 Categoria 2 Production (000 GEO¹) On Track to Achieve the Guidance 9 Aura on track for another guidance delivery—production expected at the middle, cash costs and AISC at the lower end. 267 276 244 292 1.320 1.279 1.290 1.459 1.041 1.009 984 1.140 Production (kGEO) AISC (US$/GEO) Cash Cost (US$/GEO) 2024A Actual 2024A at Guidance Prices 2024 Guidance Production (kGEO) AISC (US$/GEO) Cash Cost (US$/GEO) Q3 25 Actual(1) 2025 Guidance 2024 2025 1. For production, it considers Q3 25 LTM.
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Unlocking further value Growth in discovered gold and copper(²) Increase in market multiple Growth in production with execution of high return projects(1) ✓ Almas IRR of 64%, at US$ 1,900 gold ✓ Borborema IRR of 81%, at US$2,600 gold and 50% leverage ✓ Matupá IRR of 36% at US$ 1,900 gold and 50% leverage ✓ ~563,558 ha ✓ Ramping up investments in exploration from US$9.1M from 2017 to 2020 to US$22M in 2024 ✓ +300% growth in M&I resources and +100% growth in P&P reserves since 2018 ✓ Potential of increase of value from market multiple change for small gold producers reaching medium or large size Supported by a healthy balance sheet (low indebtedness) + strong cash flows + fast payback from projects that allow high growth with payment of dividends Team and culture aligned to the highest standards in Aura 360 – EESG management 1. Considering gold price at US$ 1,712 and US$ 100 million debt for Borborema, and Gold Prices at US$ 1,900 and 50% leverage for Matupá, and Gold Prices at US$ 1,558 for Almas 2. All mineral resource and mineral reserve estimates included in this presentation have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Readers are encouraged to review the AIF and full text of the Company’s other continuous disclosure documents. These documents are available on SEDAR and supply further information on the Company’s compliance with NI 43-101 requirements; 11
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 126 236 267 > 450k GEO 83(1) 55(2) 2018 2023 2024 Borborema Matupá Mgmt Targets Coming Years New Projects Matupá − In development, bolstering nearby resource profile for optimal mining scenarios − Pezão and Pé-Quente can contribute to additional resources in Matupá Era Dorada − Era Dorada added to pipeline in 2025 Mgmt Targets Almas, Aranzazu, Apoena, Minosa and Borborema − Evaluation of opportunities to future production increases Carajás − Carajás confirmed mineralization and undergoing exploration Announced Acquisition MSG(3) − On June 2 nd, 2025, Aura entered into an agreement to acquire a 100% stake in MSG from AngloGold Ashanti Accomplishments Almas − Constructed on -time (16 months) and on -budget − Ramp-up in only 5 months − Diligent change in contractor to boost production − +50k oz P&P reserves added Borborema − Commercial Production declared in Q3 2025 Potential Growth GEO + Era Dorada + Carajás + Pézão and Pé Quente Realized Operational (production as per Feasibility Study) Feasibility Studies Stage + MSG Growth in Production (‘000 GEO) Aura`s portfolio includes several high IRR projects slated for development over the coming years, which are expected to significantly increase its production capacity beyond 450,000 GEO / year NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 1. Despite Borborema already being in commercial production by November 2025, the number presented in this slide represents the average production for the first three years, based on the S-K 1300 Feasibility Study Report dated March 28, 2025. 2. Matupá average of production for the first four years based on the S-K 1300 Feasibility Study Report dated on March 28, 2025. 3. The MSG acquisition is subject to the fulfilment of certain precedent conditions. 4. As per the Preliminary Economic Assessment for the Era Dorada Project, released on June 9, 2025. 5. Potential to be exceeded within 12 months. Produced in 2024. 11 95(4) 80(5)
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Almas Case Study Commercial production declared in Q3 2023 NPV(3) Construction CapEx Feasibility Study Gold Prices ($2,212/oz)(1) 452 M USD 76 M USD Ounces of gold mined 612k Borborema Project Commercial production declared in Q3 2025 Feasibility Study Gold Prices ($1,712/oz)(2) 21.9% Feasibility Study Gold Prices ($2,259/oz)(2) 32.1% 812k 812k On time, only 16 months and on Budget (benchmark) Ramp-Up in only 5 months (benchmark) Unlevered IRR Ounces of gold mined Construction/ramp up - On time and on Budget on 22 months(4) Potential to increase reserves and production – road reallocation 1. Based on Almas’ S-K 1300 Technical Report Summary as of April 10, 2025. 2. Based on the S-K 1300 Feasibility Study published on March 28, 2025 3. Pre-tax @ 5% discount rate 4. From the beginning of construction to the commercial production 12 5.9x
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com MEXICO HONDURAS GUATEMALA Minosa Copan Era Dorada Jutiapa Preliminary Economic Assessment Gold Prices ($2,410/oz)(8) ~200km ⚫ ~200km between Era Dorada and Minosa ⚫ ~160 km by road east- southeast of Guatemala City ⚫ Nearest town is Asuncion Mita with a population of ~20,000 ⚫ Connected by the Pan American Highway (mine site is 6km from the highway) Acquired Bluestone Resources in January 2025 for C$26.3 M in cash, 1,007,186 Aura shares, and a CVR offering up to C$0.212 per share. Bluestone shareholders received C$0.287 per share plus 0.0183 Aura shares per Bluestone share. Lundin specifically requested for the part of the payment to be made in shares, confident that Aura could turn the asset around and wanting exposure to the potential upside RECENT DEVELOPMENTS ⚫ Aura is updating the feasibility study (IN 43101) and analyzing further upsides ⚫ Already has all licenses to build an underground mine KEY EXPLORATION EFFORTS PRIOR TO BLUESTONE’S ACQUISITION OF THE ERA DORADA PROJECT: 1) 522 drill holes totaling 117,027 m were completed on the Project(1) 2) Metallurgical test work was conducted on samples from the Era Dorada deposit by Kappes, Cassiday & Associates(2) 3) Bluestone completed an additional 55 drillholes totaling 11,384m(3) 4) JDS Mining & Energy completed a PEA(4) and G Mining completed a FS(5) MITA GEOTHERMAL PROJECT – RENEWABLE PROJECT ⚫ An advanced-stage and licensed to produce up to 50 megawatts of power 1. From 1998 to 2012 2. Between April 1999 and January 2012 3. From January to July 2018 4. Dated March 20, 2017, and an updated PEA dated June 2, 2017 5. Feasibility study filed in April 2022. 6. Price resulting from the weighted average of forecast gold and silver prices from 2028 onwards (Au price of $2,409.68/oz and Ag price of $28,64/oz) 7. First 4 years average, including by-product 8. Preliminary economic assessment for Era Dorada Project in accordance with S-K 1300 filed in June 2025 9. After-tax @ 5% discount rate 13 Era Dorada Construction CapEx 263 M USD NASDAQ: AUGO | B3:AURA33 www.auraminerals.com NPV(8) 485 M USD IRR(8) 23.8% Annual Production(7) 95k GEO M&I 1,978k GEO Inferred 122k GEO Operational Highlights and Mineral Resources and Reserves(6) Stockpile (Measured) 5.4k GEO 1.8x
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Acquisition of Mineração Serra Grande (“MSG”) from AngloGold Ashanti for an upfront cash of US$76 M plus deferred consideration payments. The Transaction is subject to the fulfilment of certain conditions precedent Description • MSG is located in the northwest of the state of Goiás, central Brazil about 5km from the city of Crixás • The MSG operation comprises three mechanised underground mines and an open pit, with one dedicated metallurgical plant with an annual capacity of 1.5 M • The seller is fully responsible for the ongoing decommissioning of the tailings dam 14 MSG Goiás, Brazil Recovered Grade (g/t) Relevant and rich resource base alongside potential intrinsic value, which we could unlock given our proven turnaround track record, especially due to its similarities to Aranzazu: ✓ Same operational team will be responsible for the turnaround ✓ Similar history of cost reduction and unrealized production capacity ✓ Both are underground mines with similar technical constraints Ore Treated/Milled (Mt) NASDAQ: AUGO | B3:AURA33 www.auraminerals.com MSG GO, Brasil P&P Reserves 4.20Mt M&I Resources 10.75Mt 0.37Moz 1.08Moz 1,30 1,30 1,40 1,20 1,30 1,50 1,20 1,20 1,10 1,00 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Reserves & Resources Gold Production (‘000 oz) 132 132 133 130 123 114 83 88 86 80 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3,27 3,17 2,95 3,46 2,94 2,33 2,09 2,28 2,37 2,39 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Source: AngloGold Ashanti’s filings and MSG transaction press release.
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 7 8 10 12 22 21 25 26 2017 2018 2019 2020 2021 2022 2023 2024 Increasing Exploration Expenditures (in US$ million) 2024: − Potential to increase +2M Oz in P&P after road relocation in Borborema − Pézão and Pé-Quente should expand Matupá significantly − Almas: Paiol showcasing underground potential to extend Almas’ LOM Sustainable growth with competitive costs Aura Discovery Cost U$25/oz +95% Increase in resources in the last 5 years Source: Long Term Trends in Gold Exploration Replacement of Consolidated Mineral Reserves and Resources (in GEO ‘000) 2024 and future ~600k oz of historical resources at Pé- Quente and Pezão Additional resource in Almas, Apoena e Aranzazu Potential to increase reserves up to 2M at Borborema Potential discovery at Carajás Clear Growth Strategy 1.702 2.358 2.237 2.709 3.557 3.438 2.855 3.510 3.780 4.270 6.410 6.443 995 738 818 799 1.034 1.076 2019 2020 2021 2022 2023 2024 P&P M&I Inferred US$22M Invested in 2024 (US$8 M in 2018) ~100,000m of drilling in 2024 Exploration Pipeline Focused on expanding life of mine and new discoveries Land Area (excl. Era Dourada) ~570,000 ha
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com P/NAV (1) Increase in Market Multiple NASDAQ: AUGO | B3:AURA33 www.auraminerals.com …In addition to the value driven by production growth and exploration investments, Aura’s valuation multiple can be further enhanced through M&As and increased DTV Target Apoena Rio Novo Serrote Borborema Carajás Pé Quente and Pezão Bluestone (Era Dorada) Mineração Serra Grande(1) Transaction Acquisition Acquisition Sale Acquisition Acquisition Acquisition Acquisition Acquisition Date 2016 2018 2018 2022 2023 2024 2025 2025 Stage of Asset at Acquisition Operational Under Development / Exploration Operational Under Development Exploration Exploration Under Development Operational 16 1. Intermediate and Junior Gold Producing Companies in 2024 Based on Source: Bank of America Coverage Initiation Report - September 22, 2025 Exploration Permit Exploration Permit MSG 2,1x 1,9x 1,6x 1,5x 1,5x 1,4x 1,4x 1,2x 1,1x 1,0x 0,9x 0,9x 0,8x Agnico Eagle Mines Kinross Gold Barrick Newmont SSR Mining New Gold Alamos Gold B2Gold IAMGOLD Eldorado Gold Endeavour Mining Centerra Gold
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 1. Proven & Probable. 2. All calculations are in accordance with Subpart 1300 of Regulation S-K, or “S-K 1300”. 3. Including Almas’ US$ 21 million royalties and US$ 10 million Gold Loan signed in December. 4. Includes only exploration CapEx. 5. Mineral R&R growth as disclosed by the company. 6. Buybacks and Acquisition of Treasury shares 17 Capex (in US$ million) Mineral Reserves & Mineral Resources and Production(2) (in millions of GEO) Dividends and Buybacks(6) (in US$ million) Adjusted EBITDA and Net Debt/Adjusted EBITDA (in US$ million, x) + + + (1) $514 M (Since 2022) $276 M (Since 2021) +50%(5) Continued Low leverageProject with high IRR Efficient oz discoveries High return through Dividends Proven Track Record of Value Creation Aura's track record over the past four years demonstrates its strength and disciplined execution of its strategic goals: growth, dividends and low leverage 2,0 2,2 2,7 3,2 3,2 1,1 0,8 0,8 1,0 1,0 3,1 3,1 3,5 4,2 4,2 204 267 241 236 267 2020 2021 2022 2023 2024 P&P Inferred Production (mm GEO) 64 47 137 14612 14 8 12 54 42 130 61 145 200 2022 2023 2024 Q3 25 LTM 85 20 28 43 94 9 13 485 29 28 56 98 2021 2022 2023 2024 Q3 25 LTM Dividends Buybacks 134 134 267 419 0,6 0,6 0,7 0,15 0 0,5 1 1,5 2 2,5 3 0 50 100 150 200 250 300 350 400 450 2022 2023 2024 Q3 25 LTM Net Debt/EBITDA (4)
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 821 1.095 1.012 709 1.114 1.718 2.201 2.063 3.001 3.456 2.567 5.645 9.287 9.838 480 429 479 652 1.191 1.779 1.379 2.533 3.839 4.727 4.564 4.068 5.524 3.946 11.654 20.421 19.877 1.306 1.571 1.499 1.373 2.357 3.626 3.636 4.701 6.943 13.706 11.077 21.368 29.708 29.715 2024/10 2024/11 2024/12 2025/01 2025/02 2025/03 2025/04 2025/05 2025/06 2025/07 2025/08 2025/09 2025/10 2025/11 AURA33 ORA CN AUGO Aura’s ADTV has increased several times in the past few months, reaching close to USD 30MM so far in November/2025 Focus to consolidate listing in Nasdaq, delisted from TSX. Source: Bloomberg, retrieved on November 11th, 2025 Average Monthly Trading Volume (ADTV) (USD ‘000)
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Unmatched Exploration Pipeline 563,558 ha LOM and resource expansion underway Robust Growth Outlook With actions taken for organic and inorganic growth. Certificates Responsible Gold Mining Principles and ESR (Empresa Socialmente Responsável) in Honduras and México Capital Structure Share price (11/10/2025) US$35.89 Total shares (11/10/2025) 83.5 M Market Cap. (11/10/2025) US$3.0bn Cash (Q3 25) US$351 M Net Debt (Q3 25) US$64 M Enterprise value (11/10/2025) US$ 3.1bn ADTV 90D (until 11/07/2025) US$ 25.5M Shareholder Structure(1) High Quality Portfolio 6 Operating Mines(2) and Strong Development Pipeline Strong Balance Sheet Low Leverage, Strong Cashflow Business Building Culture Transformational Change Under Aura 360 Dividends enabled by strong cash flow generation, returning US$276 million to shareholders in dividends and buybacks since 2021 (dividend yield of 7.4% in Q3 25 LTM) Aura Minerals Recap 19www.auraminerals.com 1. Source: Bloomberg, Nov 11, 2025 2. Includes MSG. The Transaction is subject to the fulfilment of certain precedent conditions. Name % Northwestern Enterprises 48.2% Kapitalo 6.2% Invesco 2.6% Conway 2.5% Vaneck 1.8% Capital World Investors 1.9% Fidelity 0.7% BlackRock 0.8% Artisan 0.2% Vanguard 0.1% Other 35.0% Total 100.0%
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Appendix
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Extremely Well-Built Culture 21 Institutional culture rooted in extreme accountability and performance discipline Sustained low leverage (<1.0x Adjusted EBITDA) over the years Shareholders interests are put first, no tolerance for empire building $276 M distributed in dividends and share buybacks to shareholders since 2021 with a dividend yield of 7.4%(2) in the LTM. Laser-sharp focus on Free Cash Flow and long - term value creation through compounding returns Cash Conversion(1) of 67% in Q3 25 LTM. Borborema IRR of 32%, Matupá IRR of 40% and Almas NPV of US$452 M with a construction capex of US$76 M NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 1. Cash Conversion is calculated as Net cash generated by operating activities less Adjusted Capex divided by Adjusted EBITDA 2. Including shares and BDR buybacks.
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Assets Overview Diversified Portfolio of Gold and Copper Aranzazu Minosa Apoena Almas Borborema 30.1% 27.5% 14.3% 22.6% 5.5% 10 years 4 years 7 years 10 years 11 years Underground Open-pit Open-pit Open-pit Open-pit 85(3) Copper, Gold and Silver 73 Gold 33 Gold 58 Gold 83(1) Gold Inf: 324 | M&I: 1,743 | P&P: 868 Inf: 123 | M&I: 821 | P&P: 429 Inf: 134 | M&I: 535 | P&P: 346 Inf: 100 | M&I: 951 | P&P: 674 Inf: 393 | M&I: 2,077 | P&P: 812 1,094 1,190 1,330(2) 960 1,109(4) 1,499 1,304 2,036(2) 1,076 1,257(4) Operating Assets Zacatecas México Copán Honduras Mato Grosso Brazil Tocantins Brazil Rio Grande do Norte BrazilLocation LOM Mine Type Q3 25 LTM Production (‘000 GEO) 2024 R&R (‘000 GEO ) Q3 25 LTM Cash Cost ($/oz) Q3 25 LTM AISC ($/oz) Q3 25 LTM Revenue (% of Total) 22 Projects in Development Exploration Matupá • Mato Grosso, Brazil • Open-pit Gold Mine • Expected annual production of 42-55 (‘000 GEO) • Expected AISC of 710-762 ($/oz) Era Dorada • Jutiapa, Guatemala • Open-pit/Underground Gold Mine • Near surface gold deposit and a geothermal project with 50 MW of capacity Carajás • Pará, Brazil • Copper exploration target of 9,805 hectares • Located in one of the most important polymetallic districts in the world 1. Considers the full production capacity of 83k oz per year, expected for the 3 first operation years. 2. increase in strip ratio and a decline in grades between periods, which was expected considering the mine sequencing as expansion activities to open the Nosde pit are currently underway. 3. Constant prices. 4. Q3 2025 results.
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 2323 Maintaining Low Leverage to Extend Debt Maturity Profile Cash Position (US$ millions) and Financial Leverage Long Term vs. Short Term In October 2024, Aura concluded the 2nd issuance of $175,593 in simple debentures, with a fixed interest rate of 6.975%(1) 1. Almas entered into a swap agreement to fully hedged debentures, to exchange rate variation of Brazilian Reais with U.S. Dollars, plus a fixed linear rate of 6.975% per annum 351 90 153 134 53 Cash September 2025 < 1 year 1-3 years 4 - 5 years > 5 years 128 237 270 351 0,6x 0,6x 0,7x 0,15x 2022 2023 2024 Q3 25 Cash Position Net Debt/Adjusted EBITDA Short Term 21% Long Term 79% Average Cost of Debt: 7.5% 34% 25% 19% 21% 66% 75% 81% 79% 2022 2023 2024 Q3 25 Short Term Long Term
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$2,87 $1,68 2014 2024 Supported by a Full Set of Technical Capabilities 24 Proven Exploration: from exploration to reserve certification, delivered with exceptional cost discipline M&A is a fundamental part of its growth strategy Development Track-Record: from feasibility to first pour M&A Track-Record: from core to growth, accelerating scale through targeted acquisitions with best-in-class integration Operational Turnaround Excellence: transforming underperforming assets into high-margin operations Disciplined capital allocation among exploration, development, and M&A Recent examples of successful projects P&P Reserves (‘000 GEO) Borborema Almas Evolution of Reserves and Resources (‘000 GEO) 1 2 43 Life of Mine (Years) 5,5 10 2018 2024 628 868 2018 2024 +38% +81% Aranzazu Case Study 62.5 % 62.3 % 62.8 % 61.2 % 64.3 % 65.2 %37.5 % 37.7 % 37.2 % 38.8 % 35.7 % 34.8 % 4,978 5,101 6,017 6,979 9,968 9,881 2019 2020 2021 2022 2023 2024 M&I P&P Cash Cost (US$/lb CuEq) (41%) US$ 25/oz Discovery cost US$ 165 M Exploration & Expansion Investments in 2024 US$ 119 M Exploration & Expansion Investments in Guidance for 2025 Benchmark on timing Borborema: 19 months Almas: 16 months and ramp-up in 4 months Benchmark on project cost management Borborema: under US$ 188mm (budget) Greenfield re-design Almas, Borborema and Bluestone Delivering high returns Almas: IRR of 62% at US$1,900 gold Borborema: IRR of 40.8% at US$1,712 gold 2009 San Andrés 2016 Apoena 2022 Borborema 2023 Carajás (Exploration license) 2024 Pé Quente and Pézão 2025 Bluestone (Era Dorada) Robust Safety Record Zero LTIs in the last 9 months across all operations and projects, and recording only 1 LTIs in the last 2 years
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 0.07 2024 Lost time injury frequency rate 68% of employees are from nearby communities 0.00 Last 9 M Lost time injury frequency rate 63% Internal promotions for directors 0.00 2024 Lost time injury frequency rate Shaping a better world, both for the present and the futureSeasoned Management Team Board of Directors Paulo Carlos de Brito Non-Executive Chairman Paulo de Brito Filho Stephen Keith Independent Member Richmond Fenn Independent Member Bruno Mauad Independent Member Pedro Turqueto Independent Member High Performance Team and Complementary Board Skills Aura’s best asset Years at AuraYears of Experience +6 +23 +7 +20 +2 +19 +8 +28 Rodrigo Barbosa CEO Kleber Cardoso CFO and IR Head Glauber Luvizotto COO Isabela Dumont Head of People and ESG 25 4 out of 6 are independent
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Skilled Operational Team 26 Mines in Operation Exploration Projects Projects in Development Care & Maintenance 6 2 1 2 Aranzazu Zacatecas, México Tolda Fría Caldas, Colômbia Matupá MT, Brasil Carajás PA, Brasil Era Dorada (Cerro Blanco) Jutiapa, Guatemala NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Minosa Copan, Honduras Apoena MT, Brasil Wilton Muricy Director of Operations Aura Aranzazu, México Experience Francisco do Carmo Director of Operations Aura Minosa, Honduras Experience Carlos Mamede Director of Operations Aura Apoena, Brazil Experience Coporate Management Borborema RN, Brasil Frederico Silva Director of Operations Aura Borborema, Brazil Experience Almas TO, Brasil Gabriel Sapucaia Director of Operations Aura Almas, Brazil Experience Pitágoras Costa Director of Projects and Construction Experience Richard Massari Director of Operational Excelence, Digital & Innovation Experience Henrique Rodrigues Director of Technical Services Experience Glauber Luvizotto COO Experience Borborema RN, Brasil São Francisco MT, Brasil Almas TO, Brasil Apoena MT, Brasil MSG(1) GO, Brasil 1. The Transaction is subject to the fulfilment of certain conditions precedent. Minosa Copan, Honduras
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 31 76 78 79 91 125 2020 2021 2022 2023 2024 Q3 25 LTM 88 151 164 177 197 232 2020 2021 2022 2023 2024 Q3 25 LTM 29.4% 35.6% 41.7% 42.4% 33.1% 27 ▪ Underground copper, gold and silver mining operation with flotation circuit to produce copper concentrate ▪ Deposit is a skarn/sediment replacement (Manto) ▪ Located in the prolific Concepcion del Oro Providencia, Mazapil district, where mining dates back almost 500 years ▪ District is host to world class deposits such as Tayahua (Minera Frisco), Camino Rojo (Orla Mining) and Penasquito Mine (Newmont) 2024 Operational Highlights 2024 Mineral Resources and Reserves Historical Results Aranzazu Zacatecas, Mexico Production (‘000 GEO) Net Revenue & % of Total ($mm, %) Adjusted EBITDA & Margin ($mm, %)Cash Cost AISC 34.8% 50.1% 47.4% 44.6% 46.1% LOM 10 Years Cash Cost $1.165/Oz AISC $1.579/Oz Annual Production 98 kGEO Inferred 324 kGEO M&I 1,743 kGEO P&P 868 kGEO Copper Grade 1.50% Gold Grade 0.83 g/t Silver Grade 21.64 g/t Overview Geographic Footprint NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 27 30.1% 53.7% Cash Cost & AISC ($/oz) At Constant Prices(1) Source: Company’s filings. 1. Assumes constant prices based on the average net realized gold price for 1Q25 of $2,786/oz. 65 107 112 106 98 85 2020 2021 2022 2023 2024 Q3 25 LTM 1.337 1.042 1.051 1.184 1.165 1.133 n.a. 1.455 1.413 1.551 1.579 1.513 2020 2021 2022 2023 2024 Q3 25
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Summary of Operational Results Increased production… (Copper concentrate, DMT) … with greater quality… (grade, % of Cu) 28.101 77.640 2014 2024 0,86% 1,50% 2014 2024 80% 91% 2014 2024 57% 81% 2014 2024 GoldCopper Year Description LoM P&P Reserves 2015 Aranzazu was put in care-and maintenance due to higher costs and lower copper prices - - 2018 Aura implemented material changes, reopened Aranzazu and attained commercial production by December 5.5 years 160kt Cu, 163koz Au, 2,675koz Ag 2019 & 2020 Aura invested $22 million in exploration, mostly allocated to Aranzazu (and Apoena) to convert resources into reserves 6.8 years 188kt Cu, 206koz Au, 2,518koz Ag 2021 Management planned an extensive drilling campaign of ~48,900 meters in 2021 at Aranzazu to support a future production expansion n.a. 194kt Cu, 200koz Au, 3,714koz Ag 2022 Aura invested approx. $7.5 million in 2022, drilling 37,685 meters at the mine ~7.0 years 259kt Cu, 249koz Au, 5,419koz Ag 2023 Aura completed 24,840 meters of drilling at Aranzazu focused on the Glory Hole zones and nearby areas ~8.0 years 270kt Cu, 245koz Au, 5,721koz Ag 2024 Aranzazu produced 98 kGEO, currently is the largest Aura’s producing mine ~10.0 years 264kt Cu, 237koz Au, 6,129koz Ag Growth in Production: Aranzazu 28 … with better recovery rates… (recovery, %) … at lower costs (cash cost, US$/pound CuEq) Summary of Financial Results Accumulated EBITDA (US$ million) Accumulated Net Income (US$ million) (30) 373 2011 to 2015 2019 to 2024 (82) 187 2011 to 2015 2019 to 2024 We have several examples of proven track record, such as the restart of Aranzazu $2,87 $1,68 2014 2024
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PROJECT MOLYBDENUM: DECISION-MAKING AGILITY ⚫The local technical team has identified the potential for generating value as a by- product. ⚫Simplified feasibility study: 100% in 2024 ⚫Rapid construction of the treatment plant, with low decision-making risk. ⚫Initial investment: US$ 1.3 M ⚫Payback: 9 months Exploration • 2025 plans include 21,000m drilling budget, with 9,000m focused on resource expansion, conversion and extending Glory Hole • Exploration efforts are ramping up to extend ore discovery at depth in GHFW, Cabrestante, Mexicana, and new regional targets Aranzazu Prospects and additional exploration initiatives 29
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 58 45 49 27 39 57 2020 2021 2022 2023 2024 Q3 25 LTM ▪ Open-pit gold and silver (small quantities) mining operation. The complex consists of a processing plant fed by satellite mines ▪ Deposit varies in each satellite mine, from gold-rich quartz veins to orogenic gold Iode ▪ Located in the southwest of Mato Grosso state, near Pontes e Lacerda in Brazil ▪ Since Aura acquired Apoena, significant improvements have been made in geological interpretation, structural analysis and geometallurgy 2024 Operational Highlights 2024 Mineral Resources and Reserves Historical Results Apoena Mato Grosso, Brazil Production (‘000 GEO) Net Revenue & % of Total ($mm, %) Cash Cost & AISC ($/oz) Adjusted EBITDA & Margin ($mm, %) 38.3% 27.8% 30.6% 20.1% 15.2% 50.4% 37.8% 40.9% 32.8% 43.3% Inferred 134 kGEO M&I 535 kGEO P&P 346 kGEO Gold Grade 0.90 g/t Overview Geographic Footprint NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 30 Cash Cost AISC 14.3% 51.5% LOM 7 Years Cash Cost $1,189/Oz AISC $1,833/Oz Annual Production 37 kGEO Tax Incentives(1) SUDAM 1. Corporate tax rate of ~15.25%, considering the SUDAM special tax regime, which reduces the statutory income tax by ~75%. 67 61 68 46 37 33 2020 2021 2022 2023 2024 Q3 25 LTM 115 118 20 84 90 110 2020 2021 2022 2023 2024 Q3 25 LTM 743 883 961 1.170 1.189 1.082 n.a. 1.151 1.254 1.822 1.833 1.791 2020 2021 2022 2023 2024 Q3 25
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Challenges Overcome Since Q1 24, Aura has made efforts to address licensing restrictions and geological challenges in the Aguapeí gold belt Quarterly Production (‘000 GEO) ⚫ Operation adjusted to handle areas with lower grades, maintaining stability within the technical possibilities ⚫ Challenges with the environmental license and geological complexity overcome by agile decentralized decision- making ⚫ Development of the mine to reach regions offering higher grades, preparing the operation for more robust results in the future ⚫ In Q3 25, production was 13% higher QoQ and 15% higher YoY, driven by higher recovery rates and and higher processed tonnage feed. Production remains on track with the Company’s full year 2025 guidance Expansion over the coming years Strategy focused on overcoming challenges and accessing richer ore grades 31 11 12 18 27 13 7 11 15 12 10 8 7 9 8 9 58 56 59 68 70 64 58 46 45 48 45 37 34 32 33 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Quarterly Results LTM Production
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Exploration There is potential for a "super pit" with information indicating continuation at Lavrinha/Nosde at mid and lower levels, which could further extend the lifespan of the project Targets near the mine, such as Pombinhas and Japones W, show a good potential to boost current reserves A B A BJaponês W Japonês Nosde Lavrinha Ernesto Connection Ernesto Cantina Lower Trap Middle Trap Upper Trap Bonus Trap Big Pit 2025 plans include 18,000m of drilling to further delineate resources at Nosde, Lavrinha and Ernest Connection Apoena Super pit potential 32
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 44 81 26 34 83 120 2020 2021 2022 2023 2024 Q3 25 LTM 95 155 109 122 178 212 2020 2021 2022 2023 2024 Q3 25 LTM 2024 Operational Highlights 2024 Mineral Resources and Reserves Historical Results Minosa La Union, Honduras Production (‘000 GEO) Net Revenue & % of Total ($mm, %) Cash Cost & AISC ($/oz) Adjusted EBITDA & Margin ($mm, %) 31.7% 36.6% 27.7% 29.3% 29.9% LOM 4 Years Cash Cost $1,126/Oz AISC $1,216/Oz Annual Production 78 kGEO Inferred 123 kGEO M&I 821 kGEO P&P 429 kGEO Gold Grade 0.44 g/t Overview Geographic Footprint NASDAQ: AUGO | B3:AURA33 www.auraminerals.com ▪ Open-pit heap leach gold and silver (small quantities) mining operation ▪ Deposit is classified as an epithermal gold deposit associated with extensional structures within tectonic rifts ▪ Located in the highlands of western Honduras, in the municipality of La Union, Department of Copan ▪ The mine has been in operation since 1983 and has a well-developed infrastructure 45.9% 52.2% 24.2% 28.1% 46.8% 33 Cash Cost AISC 27.5% 56.5% 61 88 61 66 78 73 2020 2021 2022 2023 2024 Q3 25 LTM 846 792 1.222 1.254 1.126 1.192 n.a. 985 1.342 1.357 1.217 1.378 2020 2021 2022 2023 2024 Q3 25
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Increase in Production Consistent results delivery driving the increase in production Quarterly Production (‘000 GEO) ⚫ Consistent results delivery: 7 consecutive quarters of production growth from Q4 22 to Q3 24 ⚫ Ended 2024 with some surprising results, exceeding the production figure for 2023 by 19%, and beating the production guidance forecast for the year ⚫ Another stable quarter Q3 25 and in line when compared to the previous quarter, resulting from higher grades processed during the quarter and higher recovery rate, which achieved 68% 40 years in operation Process optimization: Specific improvements generating efficiency gains 34 18 17 14 12 14 16 18 18 19 19 21 19 18 18 18 86 79 76 61 57 57 60 66 71 74 77 78 77 76 73 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Quarterly Results LTM Production
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 35 Exploration and additional potential • Minosa's 2025 plans include up to 5,000m of drilling focused on deeper sulphide zones with higher grades • Geophysical studies and surface sampling in SA III and IV show potential to expand new areas • Assessing potential from old, low-grade stacks Minosa Strategic Planning and Geological Exploration Phases of the Mine’s Life SA I: Thorough, detailed planning giving predictability in the results for two years SA I: Expected to increase LOM using old ore grades stacks, and already identified areas within the current licenses and permits SA I: Opportunities for ore in sulfide rocks SA III and IV: Geophysical studies and surface samples giving good results. Opportunities to expand to new areas of exploration Phases of the Mine’s Life • Increase in LOM • Operational flexibility • Increase in the production profile with smaller DTMs NASDAQ: AUGO | B3:AURA33 www.auraminerals.com
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 10 75 112 2023 2024 Q3 25 LTM 34 129 174 2023 2024 Q3 25 LTM 18 54 58 2023 2024 Q3 25 LTM NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 36 2024 Operational Highlights 2024 Mineral Resources and Reserves Historical Results Almas Tocantins, Brazil Production (‘000 GEO) Net Revenue & % of Total ($mm, %) Cash Cost & AISC ($/oz) Adjusted EBITDA & Margin ($mm, %) 8.2% 21.8% Inferred 100 kGEO M&I 951 kGEO P&P 674 kGEO Gold Grade 1.13 g/t Overview Geographic Footprint ▪ Open pit gold operation that consists of three deposits and several exploration targets ▪ Almas is the first greenfield project constructed by Aura with a flexible processing facility designed to handle upgrades ▪ Orogenic gold deposit consists of three main deposits, Paiol, Cata Funda and Vira Saia along a 15 km long corridor ▪ Located on the Almas Greenstone Belt, one of the largest but least explored in Brazil 29.3% 57.6% 36 Cash Cost AISC 22.6% 64.4% LOM 10 Years Cash Cost $950/Oz AISC $1,139/Oz Annual Production 54 kGEO Tax Incentives(1) SUDAM 1. Corporate tax rate of ~15.25%, considering the SUDAM special tax regime, which reduces the statutory income tax by ~75%. 1.243 950 986 1.419 1.139 1.128 2023 2024 Q3 25
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 37 Almas Project Development Case Study Potential Upsides: • Production Capacity Increase • Ongoing expansion • Expansion under study • Increase in the Life of Mine due to high geological potential of the region • Addition of +50k oz in 2P reserves already converted on year 1 • Additional drilling under way to further increase resources Future: Feasibility Study Gold Prices ($1,900/oz) Ounces of gold mined 608k NPV US$ 292 M Project unlevered IRR 62% Unlevered after- tax payback 1.6 years The ramp-up was achieved in 2023 in 3 months, operating commercially at 4,000 tons per day with a recovery ratio above 90% 37 Past: Background Present: Results Actual vs. Planned: Construction Phase 50% 99% CapEx funded with project debt (%) 73 76 Construction CapEx (US$ millions) 12 4 Ramp-Up (months) FS 2021 Actuals Industry Benchmark 16 14 Construction Timelines (months) Actual vs. Planned: 2024 compared to Year 4Q24 Annualized FS 2021 4Q24 Annualized54 67 Expected first year of full production ('000 ozs) $1.558 $2.586 Gold Price +1,028 $719 $713 AISC (US$/GEO) -6 • Almas FS published in 2016 estimated a Capex of US$ 93 M (estimated at ~ US$ 120 M, at 2024 prices) • Aura acquired Almas in 2018, through a merger with Rio Novo Gold • FS reviewed and published in early 2021, with improved financial KPIs • Capex of US$ 73 M(1) (down from US$ 93 M) • NPV at US$ 186 M(1) (up from US$ 147 M) • Unlevered IRR of 44% (1)(up from 34%) 1. Considering Gold Price $1,558/oz
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Increase in Production Driven by the operating stability and contribution of Almas Quarterly Production (‘000 GEO) ⚫Ramp-up begun in June 2023, achieving great efficiency in getting up to speed in just 3 months of operation ⚫Capacity expanded at the processing plant from 1.3 Mt/yr to 1.8 Mt/yr ⚫Record production in Q4 24, with 454kt mass processed and gold production of 16.7 kOz ⚫Consistent results delivery with production stabilized ⚫In Q3 25, production was 17% higher QoQ, driven by higher ore processed volumes and improved mine performance, reflecting the results of the plant expansion. Production was in line YoY, although the higher ore processed, due to the grades decrease due to mine sequencing Operating since Q3 23 Aura’s first greenfield project Ramp-Up 38 Stabilization Plant 1.5 Mt/yr Contractor Substitution Plant Expansion 1.8 Mt/yr 8 10 12 11 15 17 13 13 15 40 47 54 55 58 58 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Quarterly Results LTM Production
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Potential gains with Underground ⚫ Increase in LOM; ⚫ Operational flexibility; ⚫ Exploitation of deep ore seams; ⚫ Reduction in environmental desolation; ⚫ Increased production profile through higher grades. Potential increase in ore content (at the plant) Pit P2 Pit P3 Pit 2028 Level 290 Level 120 HG Grade Shell Concept study Phase 1 - Conceptual Engineering of the Exploration Tunnel Phase 2 – Review of the Geoscientific Models Phase 3 - Conceptual Engineering for an Integrated Open Pit and Underground project Image from the first extraction of the new drilling survey +20% Timeline 2024 2025 2026 Drilling Conversion of inferred resources; Potentialfor Continuity; min eral; Conceptual Study of the Exploration Gallery Trade-off Feasibility of opening an exploration gallery; Opening of the exploration gallery Preparation for Underground Operations Almas Geological Potential: strategic plan to develop an exploration gallery (Paiol) 39
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Located in one of the world's most prolific gold-producing regions in Brazil that hosts over 80 million ounces of gold - offering exceptional potential for extending Aura's deposits and making new discoveries. Paiol Deposit - 13,000m infill and extension drilling in 2024 confirmed the high-grade ore body's continuity at depth, supporting potential underground mining and adding ounces to the Inferred Mineral Resources below the current pit Crixas 7.6 Moz (AngloGold) Pilar 3.2 Moz (Pilar Gold) Almas ~900 Koz (Aura) ~94,000m drilling Greenstone belt areas >1,000,000m drilling Greenstone Belt Companies Geological Area (sq Km) Drilling (m) Mineral Resources (Moz) Crixas + Pilar Anglo/Pilar 1,183 >1,000,000 11 Almas Aura 1,487 ~94,000 0.9 Rio Itapicuru Equinox 1,979 >1,000,000 6 Iron Quadrangle AngloGold/ Jaguar 6,084 >5,000,000 65 Almas 40 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com 41 Operational Highlights Mineral Resources and Reserves Operational Profile Overview Geographic Footprint NASDAQ: AUGO | B3:AURA33 www.auraminerals.com ▪ Consists of three gold mining concessions covering a total area of 29 km² plus the title to the main area of the prospect ▪ The mineral exploration rights covering a total of 410 km² extend along the Borborema mining concessions trend and remain prospective to add resources to the Borborema inventory ▪ Located in the municipality of Currais Novos, Seridó region, in Rio Grande do Norte state, Northeast of Brazil Borborema Rio Grande do Norte, Brazil Production: 83 kGEO/year Grade: 1.54 g/ton Strip Ratio: 3.61 Expected to Deliver a Competitive Cash Cost and AISC, Lower than Aura’s Average First 3 years of operation Production: 65 kGEO/year Grade: 1.12 g/ton Strip Ratio: 3.77 Expected to Deliver a Competitive Cash Cost and AISC, Lower than Aura’s Average After 3 years of operation Inferred 393 kGEO M&I 2,077 kGEO P&P 812 kGEO 41 LOM 11 Years IRR(1) 40.8% Expected Production 83 kGEO Capex $188 M NPV(1) $182 M Tax Incentives(2) SUDENE 1. Considers $1,712/oz Au. 2. Corporate tax rate of ~15.25%, considering the SUDENE special tax regime, which reduces the statutory income tax by ~75%. ADD a MAP
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Borborema Capital Allocation Case Study Construction was concluded on time and on budget. Ramp-Up Announced March, 2025 and commercial production announced in Q3 25 42 Robust and competitive funding package implemented together with a risk management program (US$ million) Feasibility Study Gold Prices ($1,900/oz) Gold Price Simulation ($2,600/oz) Potential Upsides: • Moving the road, expected to increase 2P reserves up to + 2M oz • Increasing production capacity once the mine is in production and de- risked Ounces of gold mined 812k 812k NPV US$ 182 M US$ 537 M+20 p.p. Project unlevered IRR 21.9% 41.8%+41 p.p. Unlevered after- tax payback 3.2 years 1.7 years-1.5 year Within Budget Within Schedule (19 months) Zero LTIs during Construction Grey water and renewable energy, standing out as a global ESG benchmark 188 100 31 15 43 Implementation CapEx Term Loan Royalties + Gold Loan Derivatives Premiums Self Funded CapEx Projected to be a low-cost mine
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NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Borborema Rio Grande do Norte, Brazil Open Pit Gold Mine delivered on time on budget FUTURE HIGHWAY MODIFICATIONS ⚫ Potential for increased reserves and production ⚫ Project in the oil phase, with approval from DNIT ⚫ Resource and reserve update 43
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31 Development CIL processing open pit Low-capex and high-margin LOM: 7 years Mineral Resources and Reserves: P&P: 309k GEO M&I: 316k GEO Inferred: 1,950 GEO Highlights Production: 55 kGEO/year Cash Cost: 529 $/oz AISC: 710 $/oz Grade: 1.36 g/ton Strip Ratio: 1.83 First 4 years Production: 42 kGEO/year Cash Cost: 592 $/oz AISC: 762 $/oz Grade: 1.19 g/ton Strip Ratio: 1.73 After 4 years 1. All mineral resource and mineral reserve estimates included in this presentation have been prepared in accordance with National Instrument 43 -101 Standards of Disclosure for Mineral Projects (“NI 43 -101”). Readers are encouraged to review the AIF and full text of the Company’s other continuous disclosure documents. These documents are available on SEDAR and supply further information on the Company’s compliance with NI 43-101 requirements; 2. Based on weighted average consensus gold prices for the projected period of US$1,664 per ounce and debt/equity ratio of 50% 3. The potential in situ mineral resources presented in the Brazillian technical reports are prepared internally and not compatible with NI43 -101 guidelines. QP has not done any work to validate historical data and historical estimates and did not review or have any opinion about the accuracy of underlying data or any parameters used to estimate or calculate the historical estimates. History • Consolidated land package of 62,500 ha in a promising region with large companies such as Anglo American, Codelco, Nexa, IAMGold and Yamana operating in and exploring the area • X1 porphyry gold/silver deposit: • M&I Mineral Resource of 0.3M Au oz at 1.07 g/t • 55 koz¹ of annual production in the first 4 years, with a current LOM of 7 years • Quick payback of 2.3 YeQars² and ROE of 50%² • NPV of USD$96M² and Capex of USD$107M will be structured with mix of debt/equity Matupá Mato Grosso, Brazil
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Exploration Matupá Reserve Expansion: • Exploration efforts targeting areas within a 50 km radius of the planned X1 plant • Key Targets: X2, Serrinhas, Pé Quente, and Pezão – potential to double the current project reserves Pé Quente: • ~7,500m of drilling completed in 2024 with results showing mineralization similar to X1. Notable intercepts: • 132m @ 0.96 g/t Au, including 41m @ 1.59 g/t Au • 63.9m @ 1.18 g/t Au 22,000m planned for 2025 across several targets
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Carajás (Serra da Estrela) 32 Exploration History • Carajás Mineral Province is one of the most important polymetallic districts in the world and hosts several IOCG deposits such as Sossego and Salobo Mines (owned by Vale), Pedra Branca, Igarapé Bahia-Alemão, Cristalino, Gameleira and Alvo 118 Exploration • Continuity over 6km and up to 250m depth • Average thickness: 60m w/ grades 0.3- 0.4% Cu • Potential for Improvement: • Areas with higher drill density returned • ~16m @ 0.55% Cu. Indicates potential to increase average grades with additional drilling Carajás, Brazil
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47 Proven & Probable Mineral Reserves Gold Property Deposit Proven Probable Proven & Probable Tones (Kt) Au (g/t) Au (oz) Tones (Kt) Au (g/t) Au (oz) Tones (Kt) Au (g/t) Au (oz) Almas Paiol 5,950 1.04 198,000 7,514 1.20 290,000 13,464 1.13 488,000 Cata Funda 456 1.80 26,000 267 1.41 12,000 723 1.66 38,000 Vira Saia 1,133 1.16 42,000 2,019 0.95 61,000 3,152 1.02 104,000 Heap Leach & Low Grade Stockpile 2,369 0.58 44,000 - - - 2,369 0.58 44,000 Aranzazu Aranzazu 6,783 0.73 158,000 4,690 0.52 79,000 11,473 0.64 237,000 Minosa San Andres 8,674 0.36 101,495 21,981 0.46 327,692 30,655 0.44 429,187 Apoena Nosde-Lavrinha 2,245 0.74 53,503 7,389 1.06 250,755 9,634 0.98 304,258 Ernesto - - - 243 1.11 8,656 243 1.11 - Ernesto-Lavrinha Connection - - - 801 0.95 24,500 801 0.95 24,500 Pau-A-Pique - - - - - - - - - Japonês - - - 245 1.04 8,200 245 1.04 8,200 Matupa X1 3,799 1.31 160,004 4,685 0.99 149,120 8,485 1.13 309,124 Borborema Borborema - - - 22,455 1.12 812,000 22,455 1.12 812,000 Total 31,409 0.78 783,002 72,289 0.87 2,022,923 103,699 0.84 2,806,925 Copper Property Deposit Proven Probable Proven & Probable Tones (Kt) Cu (%) Cu (Klbs) Tones (Kt) Cu (%) Cu (Klbs) Tones (Kt) Cu (%) Cu (Klbs) Aranzazu Aranzazu 6,783 1.10 164,132 4,690 0.97 99,970 11,473 1.04 264,102 Total 6,783 1.10 164,132 4,690 0.97 99,970 11,473 1.04 264,102 Silver Property Deposit Proven Probable Proven & Probable Tones (Kt) Ag (g/t) Ag (oz) Tones (Kt) Ag (g/t) Ag (oz) Tones (Kt) Ag (g/t) Ag (oz) Aranzazu Aranzazu 6,783 16.00 3,519 4,690 17.00 2,611 11,473 17.00 6,129 Total 6,783 16.00 3,519 4,690 17.00 2,611 11,473 17.00 6,129 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com As of December 31, 2024.
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48 Proven & Probable Mineral Reserves Notes: 1. The Mineral Reserve estimates were prepared in accordance with the S-K 1300 2. Mineral Reserves are the economic portion of the Measured and Indicated Mineral Resources. Mineral Reserve estimates include mining dilution and mining recovery. Mining dilution and recovery factors vary with specific reserve sources and are influenced by several factors including deposit type, deposit shape and mining methods. 3. The estimate of Mineral Reserves may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. 4. The disclosure of the Mineral Reserve estimates and related scientific and technical information for the Aranzazu, San Andres, and Almas Mines has been prepared by qualified persons employed by SLR Consulting (Canada) Lt, as a company whose primary business is providing engineering or geoscientific services and qualified to sign each respective technical report under S- K 1300. 5. The Mineral Reserve estimate for the Apoena Mines was prepared by Porfirio Cabaleiro Rodriguez, Luiz Eduardo Campos Pignatari, Farshid Ghazanfari, Homero Delboni Junior, and Branca Horta de Almeida Abrantes as qualified persons to execute the EPP Technical Report under S-K 1300. 6. Mineral Reserve estimates for the Matupá Gold Project was prepared by F. Ghazanfari. P. Geo. (Aura Minerals), L. Pignatari, P.Eng. (EDEM, Consultants, Brazil), and H. Delboni Jr. P.Eng. (Independent Mining Consultant, Brazil) as qualified persons to execute the Matupá Technical Report under S-K 1300. 7. The Qualified Person for the Borborema Reserve Estimate are B. Tomaselli B.Sc., FAusIMM (Deswik, Belo Horizonte, Brazil), SRK Consulting (U.S.), Inc., Denver, USA., F. Ghazanfari. P. Geo. (Aura Minerals), and H. Delboni Jr. P.Eng. (Independent Mining Consultant, Brazil). 8. Mineral Reserves are estimated at an NSR cut-off value of US$66.48/tonne in Aranzazu. 9. Mineral Reserves are estimated using an average long-term price of US$2,000/oz Au, US$4.20/lb Cu, and US$25.00/oz Ag, metallurgical recoveries of 91.3% Cu, 79.5% Au, and 62.8% Ag, and a US$/MXN exchange rate of 1:20.5. The NSR formula is as follows: NSR = 74.553 x Cu (%) + 47.932 x Au (g/t) + 0.431 x Ag (g/t). A minimum mining width of 2.0 m was used. 10. Mineral Reserves are calculated using pit designs, which have been optimized using only Measured and Indicated Resources at US$2,000/oz. gold price in the San Andres, Apoena and Almas mines. 11. Mineral Reserves have been estimated at a cut-off grade of 0.215 g/t for oxide material and 0.334 g/t for mixed material, with dilution of 5% and mining recovery of 95% in San Andres. 12. Mineral Reserves were estimated at a cut-off grade of 0.47 g/t Au and applying 20% dilution factor with 98% mining recovery in Nosde & Lavrinha Mines (Apoena). 13. Mineral Reserves were estimated at a cut-off grade of 0.47 g/t Au and applying 20 % dilution factor with 98% mining recovery in Ernesto mine (Apoena). 14. Mineral Reserve were estimated at cut-off grade of 0.47 g/t Au and applying 40% dilution factor and 98% mining recovery, in Japonês mine (Apoena). 15. Mineral Reserves were estimated at cut-off grade of 0.47 g/t Au and applying 40% dilution factor and 98% mining recovery in Ernesto-Lavrinha Connection mine (Apoena). 16. The Mineral Reserve estimate is based on an updated optimized shell using 2,000 US$/oz gold price, average dilution of 10%, mining recovery of 100% and break-even cut off grades of 0.40 g/t Au for Vira Saia and 0.42 g/t Au for Cata Funda in Almas. 17. The Mineral Reserves estimate for Paiol Mine is based on a designed pit using only Measured and Indicated resources, which has been optimized using $2,000/oz. gold price. Mineral Reserve were estimated at cut-off grade of 0.38 g/t Au, 10% dilution factor and 100% mining recovery. 18. Mineral Reserves for Borborema are confined within an optimized pit shell that uses the following parameters: gold price including refining costs US$1,472/oz; mining costs US$2.40/t weathered material, US$2.80/t waste fresh rock, US$3.20/t ore fresh rock; processing costs US$14.82/t processed; general and administrative costs US$2.8 M/a; sustaining costs US$0.62/t processed; process recovery of 92.1%; mining dilution of 5%; ore recovery of 95%; and pit inter-ramp angles that range from 36–64°. 19. The Mineral Reserve estimate is based on an updated optimized shell using US$1,500/oz gold price, average dilution of 3%, mining recovery of 100% and break-even cut off grades of 0.35 g/t Au for X1 pit in Matupá. 20. Surface topography as of December 31, 2024, and a 200m river offset restrictions have been imposed, in San Andres. 21. Surface topography based on December 31, 2024 in Apoena Mines. 22. Surface topography based on December 31, 2024 in Almas. 23. Surface topography as of July 31, 2021, in Matupá.
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49 Measured & Indicated Mineral Resources Gold Measured Indicated Measured & Indicated Property Deposit Tones (Kt) Au (g/t) Au (oz) Tones (Kt) Au (g/t) Au (oz) Tones (Kt) Au (g/t) Au (oz) Almas Paiol 2,948 0.51 49,000 6,591 0.68 144,000 9,539 0.63 193,000 Cata Funda 228 1.47 11,000 293 1.22 11,000 520 1.33 22,000 Vira Saia 501 0.86 14,000 2,306 0.68 50,000 2,806 0.71 64,000 Aranzazu Aranzazu 6,069 0.80 155,000 4,167 0.47 64,000 10,236 0.67 219,000 Minosa San Andres 1,457 0.34 16,000 24,218 0.40 310,000 25,675 0.40 326,000 Apoena Nosde-Lavrinha 125 0.62 2,500 1,641 0.94 49,640 1,766 0.92 52,150 Ernesto - - - 51 0.81 1,332 51 0.81 1,332 Ernesto Lavrinha Connection - - - 649 1.05 22,000 649 1.05 22,000 Pau-A-Pique 242 3.19 24,850 602 2.71 52,450 844 2.95 77,300 Japonês - - - 38 1.12 1,350 38 1.12 1,350 Matupa X1 74 0.61 1,440 344 0.61 6,700 418 0.61 8,160 Borborema Borborema - - - 37,700 0.97 1,085,000 37,700 0.97 1,085,000 Total 11,644 0.73 273,790 78,600 0.71 1,797,472 90,242 0.71 2,071,292 Copper Measured Indicated Measured & Indicated Property Deposit Tones (Kt) Cu (%) Cu (Klbs) Tones (Kt) Cu (%) Cu (Klbs) Tones (Kt) Cu (%) Cu (Klbs) Aranzazu Aranzazu 6,069 1.06 141,893 4,167 0.81 74,71 10,236 0.96 216,603 Total 6,069 1.06 141,893 4,167 0.81 74,71 10,236 0.96 216,603 Silver Measured Indicated Measured & Indicated Property Deposit Tones (Kt) Ag (g/t) Ag (oz) Tones (Kt) Ag (g/t) Ag (oz) Tones (Kt) Ag (g/t) Ag (oz) Aranzazu Aranzazu 6,069 17.00 3,262 4,167 14.00 1,915 10,236 16.00 5,178 Matupa X1 74 2.69 6 344 3.39 38 418 3.27 44 Total 6,143 16.55 3,268 4,511 13.47 1,953 10,654 15.25 5,222 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com As of December 31, 2024.
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50 Measured & Indicated Mineral Resources Notes: 1. The Mineral Resource estimates were prepared in accordance with with the S-K 1300 2. Mineral Resources are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 3. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. 4. The SLR consultants (Canada) are Qualified Persons for Aranzazu, San Andres (Minosa) and Almas mines. 5. The Mineral Reserve estimate for the Apoena Mines was prepared by Porfirio Cabaleiro Rodriguez, Luiz Eduardo Campos Pignatari, Farshid Ghazanfari, Homero Delboni Junior, and Branca Horta de Almeida Abrantes as qualified persons to execute the EPP Technical Report under S -K 1300. 6. Mineral Reserve estimates for the Matupá Gold Project was prepared by F. Ghazanfari. P. Geo. (Aura Minerals), L. Pignatari, P.Eng. (EDEM, Consultants, Brazil), and H. Delboni Jr. P.Eng. (Independent Mining Consultant, Brazil) as qualified persons to execute the Matupá Technical Report under S-K 1300. 7. The Qualified Person for the Borborema Reserve Estimate are B. Tomaselli B.Sc., FAusIMM (Deswik, Belo Horizonte, Brazil), SRK Consulting (U.S.), Inc., Denver, USA., F. Ghazanfari. P. Geo. (Aura Minerals), and H. Delboni Jr. P.Eng. (Independent Mining Consultant, Brazil). 8. Contained metal figures may not add due to rounding. 9. Mineral Resources stated at a cut-off of US$50/t NSR for Aranzazu. NSR values have been calculated using a long-term price forecast for copper (US$4.20/lb), gold (US$2,000/oz) and silver (US$25/oz), resulting in the following formula: NSR = 74.553 x Cu (%) + 47.932 x Au (g/t) + 0.431 x Ag (g/t). 10. Estimated bulk density ranges between 2.03 t/m3 and 5.51 t/m3. 11. The figures only consider material classified as sulphide mineralization for Aranzazu. 12. The Mineral Resources estimate is based on optimized shell using US$2,200/oz gold for San Andres. 13. The cut-off grade used was 0.187 g/t for oxide material and 0.291 g/t for mixed material in San Andres. 14. A density model based on rock type was used for volume to tonnes conversion with averaging 2.38 tonnes/m3 in San Andres. 15. Surface topography as of December 31, 2024, and a 200m river offset restrictions have been imposed in San Andres. 16. The Mineral Resources are based on an optimized pit shell using US$2,200/oz gold and at a cut-off grade of 0.39 g/t Au in Apoena mines (EPP), except Pau-A-Pique. 17. The Mineral Resource is based on a cut-off grade of 1.34 g/t Au and minimum width of 2m in Pau-A-Pique mine (EPP). 18. Mineral Resources are estimated from the 410m EL to the 65m EL, or from approximately 30m depth to 500m depth from surface in Pau-A-Pique mine (EPP). 19. Surface topography based on December 31, 2024 in EPP, except Pau -A-Pique mine. 20. Density models based on rock types were used for volume to tonnes conversion with resources averaging 2.78 tonnes/m3 in Nosde-Lavrinhas mines for schist and 2.71 for meta-arenite and 2.77 tonnes/m3 in Pau-A-Pique mine, 2.65 tonnes/m3 in Ernesto mine, 2.76 tonnes/m3 in Japonês mine. 21. The Mineral Resource estimates are based on an updated optimized shell using 2,500 US$/oz gold price and cut -off grades of 0.34 g/t and 0.32 g/t for Cata Funda and Vira Saia respectively, in Almas. 22. The Mineral Resources are based on an optimized pit shell using US$2,500/oz gold and at a cut-off grade of 0.31 g/t Au in Paiol Mine. 23. Bulk density is 2.75 t/m3 for Paiol, 2.71 t/m3 for Cata Funda and 2.63 t/m3 for Vira Saia.Surface topography based on December 31, 2024, in Almas. 24. The Measured and Indicated Mineral Resources are contained within a limiting pit shell (using a gold price of US$ 1,800 per o unce Au) in Matupá. 25. The base case cut-off grade for the estimate of Mineral Resources is 0.35 g/t Au in Matupá. 26. Surface topography used in the models was surveyed July 31, 2021 in Matupá. 27. The economic cut-off grade for Borborema Mineral Resources is based on the long-term outlook sale price of US$1,800/troy ounce of gold, 92.1% recovery, average mining costs of US$2.00/t, processing costs of US$14.82/t, G&A of US$1.38, and sustaining capital costs of US$0.62/t.
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51 Inferred Mineral Resources Gold Measured Property Deposit Tones (Kt) Au (g/t) Au (oz) Almas Paiol 2,606 0.77 65,000 Cata Funda 599 1.30 25,000 Vira Saia 357 0.91 10,000 Aranzazu Aranzazu 5,623 0.44 78,808 Minosa San Andres 8,55 0.45 123,000 Apoena Nosde-Lavrinha 1,649 1.69 89,809 Ernesto 472 2.32 35,230 Ernesto-Lavrinha Connection 99 0.87 2,770 Pau-A-Pique 71 2.47 5,660 Japonês 4 1.37 190 Matupa X1 78 0.78 1,950 Borborema Borborema 10,9 1.13 393,000 Total 30,984 0.83 830,417 Copper Measured Property Deposit Tones (Kt) Cu (%) Cu (Klbs) Aranzazu Aranzazu 5,623 0.82 101,897 Total 5,623 0.82 101,897 Silver Measured Property Deposit Tones (Kt) Ag (g/t) Ag (oz) Aranzazu Aranzazu 5,623 14.00 2,496 Matupa X1 78 1.25 3 Total 5,701 13.63 2,499 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com As of December 31, 2024.
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52 Inferred Mineral Resources Notes: 1. The Mineral Resource estimates were prepared in accordance with with the S-K 1300 2. Mineral Resources are exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 3. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. 4. The SLR consultants (Canada) are Qualified Persons for the Aranzazu, San Andres (Minosa) and Almas mines. 5. The Mineral Reserve estimate for the Apoena Mines was prepared by Porfirio Cabaleiro Rodriguez, Luiz Eduardo Campos Pignatari, Farshid Ghazanfari, Homero Delboni Junior, and Branca Horta de Almeida Abrantes as qualified persons to execute the EPP Technical Report under S -K 1300. 6. Mineral Reserve estimates for the Matupá Gold Project was prepared by F. Ghazanfari. P. Geo. (Aura Minerals), L. Pignatari, P.Eng. (EDEM, Consultants, Brazil), and H. Delboni Jr. P.Eng. (Independent Mining Consultant, Brazil) as qualified persons to execute the Matupá Technical Report under S-K 1300. 7. The Qualified Person for the Borborema Reserve Estimate are B. Tomaselli B.Sc., FAusIMM (Deswik, Belo Horizonte, Brazil), SRK Consulting (U.S.), Inc., Denver, USA., F. Ghazanfari. P. Geo. (Aura Minerals), and H. Delboni Jr. P.Eng. (Independent Mining Consultant, Brazil). 8. Contained metal figures may not add due to rounding. 9. Mineral Resources stated at a cut-off of US$50/t NSR for Aranzazu. NSR values have been calculated using a long-term price forecast for copper (US$4.20/lb), gold (US$2,000/oz) and silver (US$25/oz), resulting in the following formula: NSR = 74.553 x Cu (%) + 47.932 x Au (g/t) + 0.431 x Ag (g/t). 10. Estimated bulk density ranges between 2.03 t/m3 and 5.51 t/m3. 11. The cut-off grade used was 0.187 g/t for oxide material and 0.291 g/t for mixed material in San Andres. 12. A density model based on rock type was used for volume to tonnes conversion with averaging 2.38 tonnes/m3 in San Andres. 13. Surface topography as of December 31, 2024, and a 200m river offset restrictions have been imposed in San Andres. 14. The Mineral Resources are based on an optimized pit shell using US$2,200/oz gold and at a cut-off grade of 0.39 g/t Au in Apoena mines (EPP), except Pau-A-Pique. 15. Based on a cut-off grade of 1.34 g/t Au and minimum width of 2m in Pau-A-Pique mine (EPP). 16. Mineral Resources are estimated from the 410m EL to the 65m EL, or from approximately 30m depth to 500m depth from surface in Pau-A-Pique mine (EPP). 17. Surface topography based on December 31, 2024 in EPP, except Pau-A-Pique mine. 18. Density models based on rock types were used for volume to tonnes conversion with resources averaging 2.78 tonnes/m3 in Nosde-Lavrinhas mines for schist and 2.71 for meta-arenite and 2.77 tonnes/m3 in Pau-A-Pique mine, 2.65 tonnes/m3 in Ernesto mine, 2.76 tonnes/m3 in Japonês mine. 19. The Mineral Resource estimates are based on an updated optimized shell using 2,500 US$/oz gold price and cut -off grades of 0.34 g/t and 0.32 g/t for Cata Funda and Vira Saia respectively, in Almas. 20. The Mineral Resources are based on an optimized pit shell using US$2,500/oz gold and at a cut-off grade of 0.31 g/t Au in Paiol Mine. 21. Bulk density is 2.75 t/m3 for Paiol, 2.71 t/m3 for Cata Funda and 2.63 t/m3 for Vira Saia.Surface topography based on December 31, 2024, in Almas. 22. The Measured and Indicated Mineral Resources are contained within a limiting pit shell (using a gold price of US$ 1,800 per o unce Au) and comprise a coherent body in Matupá (X1 Deposit). 23. The base case cut-off grade for the estimate of Mineral Resources is 0.35 g/t Au in Matupá (X1 Deposit). 24. Surface topography used in the models was surveyed July 31, 2021 in Matupá (X1 Deposit). 25. Inferred Resources are reported only as in-situ for Ernesto mine which only can be mined by an underground operation. Inferred (UG) Mineral Resources are reported at a cut-off grade of 1.5 g/t. 26. The economic cut-off grade for Borborema Mineral Resources is based on the long-term outlook sale price of US$1,800/troy ounce of gold, 92.1% recovery, average mining costs of US$2.00/t, processing costs of US$14.82/t, G&A of US$1.38, and sustaining capital costs of US$0.62/t.
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39 47 90 60 71 136 111 126 192 241 101 62 255 148 119 159 137 113 229 208 184 193 192 191 127 127 127 NASDAQ: AUGO | B3:AURA33 www.auraminerals.com Contact: Investor Relations – Natasha Utescher natasha.utescher@auraminerals.com www.auraminerals.com NASDAQ: AUGO | B3: AURA33