SOURCE: Aura Minerals Inc.

Aura Minerals Inc.

August 03, 2016 17:00 ET

Aura Minerals Files Ernesto/Pau-a-Pique Project NI 43-101 Technical Report and Appoints an Independent Director

TORONTO, ON--(Marketwired - August 03, 2016) - Aura Minerals Inc. (TSX: ORA) (the "Company") announces that in accordance with National Instrument 43-101 and in support of the Company's July 23, 2016 news release, it has filed a technical report entitled "Technical Report and Updated Resource Estimate on the EPP Project, Mato Grosso, Brazil" (the "Technical Report").

The Technical Report was prepared on behalf of the Company by P&E Mining Consultants Inc. and is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.auraminerals.com.

The Company has commenced work on the EPP feasibility study and will provide an update on its progress in due course.

The Company is also pleased to announce the appointment of Juarez Saliba de Avelar as an independent Director of the Company. Mr. Saliba de Avelar is an engineer with an executive background running companies similar in size and significantly larger than the Company in the metals and mining space.

About Aura Minerals Inc.

Aura Minerals is a Canadian 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 and the Sao Francisco gold mine in Brazil.

On June 23, 2016 the Company completed the acquisition and assumed operational control of the Ernesto/Pau-a-Pique Project located in the southwest of Mato Grosso state, near Pontes e Lacerda in Brazil. The Company's primary technical focus for the project restart will be grade control, choice of the proper small-scale selective mining methods, and geotechnical optimization to reduce dilution, improve overall gold recovery and lower cash operating costs at this relatively high grade project.

Operations at the copper-gold-silver Aranzazu mine in Mexico have been suspended. The Company's core development asset is the copper-gold-iron Serrote da Laje project in Brazil.

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