Aranzazu

Summary:

Aranzazu is an underground copper-gold-silver mine in Zacatecas, Mexico owned and operated by Aura Minerals Inc. (“Aura”) (TSX: ORA). The mine reopened in 2018 as a 3,350 tonne per day operation which produced 111,531 gold equivalent ounces in 2022 at a $680/oz gold-equivalent cash cost. Guidance for 2023 is for 101–116Koz of GEOs. Aura has a long history of replacing reserves at Aranzazu, since restarting production in 2018, Aura has increased its Proven and Probable Reserves by 53% net of depletion.  Exploration is ongoing with 29,400 meters of drilling budgeted for 2023 on the property of which only 6% has been drill-tested to date.

Interest: 1.0% Net Smelter Return Royalty

Location: Zacatecas, Mexico

Project Status: Production

Counterparty: Aura Minerals (TSX: ORA)

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