ORA Aura Minerals Inc

Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”), is pleased to announce that Aura has completed the previously announced acquisition of Bluestone Resources Inc. (“Bluestone”) by way of a plan of arrangement under Part 5 of Division 9 of the Business Corporations Act (British Columbia) (the “Transaction”).

Aura paid approximately C$26,255,313 in cash, C$0.287 for each Bluestone Share held, and issued 1,007,186 Aura shares, 0.0183 common shares of Aura for each Bluestone Share held. Bluestone shareholders also received contingent consideration in the form of contingent value rights (“CVRs”) providing the holder thereof with the potential to receive a cash payment of up to an aggregate amount of C$0.2120 for each Bluestone Share, payable in three equal annual installments, contingent upon the Cerro Blanco gold project achieving commercial production. The shares of Bluestone are expected to be delisted from the TSX Venture Exchange (“TSXV”) on or around market close on January 14, 2025. Aura will apply for Bluestone to cease to be a reporting issuer in each relevant jurisdiction under applicable Canadian securities laws. The listing of the Aura shares issued as consideration to certain former holders of Bluestone shares is subject to final approval by the Toronto Stock Exchange (“TSX”).

Rodrigo Barbosa, CEO of Aura, stated, “Cerro Blanco is a world-class deposit with over 3 million ounces in Measured and Indicated (M&I) resources. Over the next few months, we will be reviewing the feasibility study and exploring alternatives to optimize the size, risk, and return of the project while rolling out our Aura 360 concept with the highest environmental and social standards, preparing it to start construction. Moreover, the geothermal energy project, with a capacity to reach 50MW, gives Cerro Blanco a unique angle to use renewable energy and potentially sell the surplus to Guatemala. This acquisition exemplifies our ability to execute a growth strategy. Finally, we welcome one of the most reputable mining investors, the Lundin family, as our shareholders."

Bluestone is the owner of the Cerro Blanco Project, which is a near-surface gold deposit located in Jutiapa, Guatemala. An NI 43-101 technical report and feasibility study on the project were prepared by G Mining Services and filed publicly in April 2022 by Bluestone (the “Report”). The Report contains the following mineral resource estimates: 63.5 Mt at an average grade of 1.5 g/t of gold and 6.6 g/t of silver for 3.09 Moz of gold, and 13.4 Moz silver contained in the measured and indicated mineral resources, along with 1.67 Mt at an average grade of 0.6 g/t Au and 2.1 g/t of silver for 0.031 Moz of gold and 0.112 Moz silver contained in the inferred mineral resources. Bluestone also owns the Mita Geothermal project, which is an advanced-stage, renewable energy project licensed to produce up to 50 megawatts of power. As previously disclosed by Bluestone, on June 17, 2024, Bluestone received a notice from the Guatemalan Ministry of Environment (“MARN”) challenging the approval procedure that approved the surface mining method for Cerro Blanco. In its public disclosure, Bluestone has clarified its belief that the environmental permit amendment met and exceeded the terms of reference provided by the MARN, and that it has adhered to Guatemalan law in this respect. Aura intends to evaluate the alternatives for future potential development of Cerro Blanco.

The Company is disclosing contained ounces based on mineral resource estimates contained in the Report which are based on an open pit scenario. All mineral resources in the Report were estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (CIM) definitions, as required under National Instrument 43-101 (NI 43- 101), with an effective date of December 31, 2020. Mineral resources reported in the Report demonstrate reasonable prospect of eventual economic extraction, as required under NI 43-101 based on an open pit scenario. Mineral Resources are not mineral reserves and do not have demonstrated economic viability.

Qualified Person

The scientific and technical information contained within this news release has been reviewed and approved by Farshid Ghazanfari, P.Geo. Mineral resources and Geology Director for Aura Minerals Inc. and serve as the Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Aura 360° Mining

Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.

Aura is a mid-tier gold and copper production company focused on operating and developing gold and base metal projects in the Americas. The Company has 4 operating mines including the Aranzazu copper-gold-silver mine in Mexico, the Apoena (EPP) and Almas gold mines in Brazil, and the Minosa (San Andres) gold mine in Honduras. The Company’s development projects include Borborema and Matupá both in Brazil. Aura has unmatched exploration potential owning over 630,000 hectares of mineral rights and is currently advancing multiple near-mine and regional targets along with the Aura Carajas copper project in the prolific Carajás region of Brazil.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Forward-looking statements used herein include, but are not limited to: payment of the contingent cash consideration underlying the CVRs; the expected timing for de-listing of the common shares of Bluestone from the TSXV; the application to cease Bluestone from being a reporting issuer in each relevant jurisdiction; final approval of the TSX; and evaluating alternatives for future development of Cerro Blanco.

All forward-looking statements are made based on the Company’s current beliefs as well as various assumptions made by the Company and information currently available to the Company. Generally, these assumptions include, among others: the presence of and continuity of metals at the Cerro Blanco Project at estimated grades; metals sales prices and exchange rates assumed; the availability of acceptable financing; anticipated mining losses and dilution; success in realizing proposed operations; and anticipated timelines for community consultations and the impact of those consultations on the regulatory approval process.

Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements, including, but not limited to the fact that the results of the Report may differ significantly based on the eventual mining method of Cerro Blanco; the resolution of the challenge by MARN; risks and uncertainties related to the ability to obtain, amend or maintain necessary licenses, permits or surface rights; risks associated with technical difficulties in connection with mining development activities; risks and uncertainties related to the accuracy of mineral resource estimates; title matters; risks associated with geopolitical uncertainty and political and economic instability in Guatemala; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; uncertain political and economic environments and relationships with local communities and government authorities; risks relating to variations in the mineral content and grade within the mineral identified as mineral resources from that predicted; risks related to the volatility in the prices of gold, copper and certain other commodities; risks related to 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, and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

For more information, please contact Investor Relations:
ri@auraminerals.com
www.auraminerals.com