Aura Declares Dividend of US$ 60 Million

ROAD TOWN, British Virgin Islands, March 15, 2021 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33) (“Aura” or the “Company”) announced today that the board of directors of the Company approved the payment of a dividend (the “Dividend”) of US$ 0.83 per common share (approximately US$ 60 million in total). The Dividend is in excess of the minimum dividend payable pursuant to the Company’s dividend policy, as announced June 22, 2020, based on the Company’s financial results for the year ended December 31, 2020.

The Dividend will be paid on April 6, 2021 to shareholders of record as of the close of business on March 26, 2021. Shareholders of record whose address on the books of TSX Trust Company, the Company’s registrar and transfer agent, is in Canada will receive the Canadian dollar equivalent of the Dividend, based on the Bank of Canada daily average exchange rate on the day before the payable date. All other shareholders will receive the Dividend in US dollars.

Holders of the Company’s Brazilian Depositary Receipts (“BDRs”) are expected to receive payment by April 17, 2021. Holders of BDRs will receive the Brazilian Reais equivalent of the Dividend, based on the exchange rate on the payment date to BDR holders.

The Dividend is not subject to withholding taxes at the time of payment by the Company.

Rodrigo Barbosa, President & CEO, comments: “The Company finished 2020 in a very strong position, with US$ 118 million in cash and negative net debt of US$ 48 million. Additionally, as previously disclosed, GEO production is expected to increase during 2021 by 22% to 42%, which should lead to stronger results in the year ahead. We believe that we are in a comfortable position to fund development of Almas, our planned expansions and other greenfield projects such as Matupa and still have excess capital. Therefore, as we generate high returns from our internal investments and continue to have a strong balance sheet, we believe that our shareholders will benefit from such Dividend at this time.”

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 include, but are 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, including the expected timing of the Dividend; expected production from, and the further potential of, the Company’s properties; and the ability of the Company to achieve its longer-term outlook and the anticipated timing and results thereof.

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. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying 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.

Non-GAAP Measures

In this press release, the Company has included net debt which is a non-GAAP performance measure. Non-GAAP measures do not have any standardized meaning within IFRS and therefore may not be comparable to similar measures presented by other companies. The Company believes that these measures provide investors with additional information which is useful in evaluating the Company’s performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The below tables provide a reconciliation of the non-GAAP measures presented (in USD 000):

Net Debt:

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 the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road mine in the United States. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

For further information, please visit Aura’s website at www.auraminerals.com or contact:

Rodrigo Barbosa                 
President & CEO                
305-239-9332