ALMAS GOLD PROJECT

is 100% owned by Aura Minerals and is located in the municipality of Almas, in Tocantins State, Brazil. The Project consists of three separate open pit mining areas and a central processing facility. The Almas Gold Project’s three main gold deposits, Paiol, Cata Funda and Vira Saia are along a 15 km long corridor of the Almas Greenstone Belt which hosts numerous orogenic gold occurrences.

Aura is currently re-evaluating the Project, as originally conceived by Rio Novo, with the objective of improving its economic performance. This is expected to be achieved through a combination of lower operational costs tapping on Aura’s existing operational partners in Brazil, improved gold grades through more selective mining and a lean-but-rational capital expenditure philosophy.

Mining activity at the Project was initially conceived to start at the Paiol pit and will be followed sequentially first at the Vira Saia and subsequently, the Cata Funda pit. The Project also count with historic Paiol heap leaching rejects with reasonable grades and enough ore to support several months of operation.

Reserves and Resources

MEASURED + INDICATED ?

694,035

Au Ounces

Updated Feasibility Study Technical Report (NI 43-101) for the Almas Gold Project, Almas Municipality, Tocantins, Brazil, with effective date December 31, 2020, with the collaboration of other engineering and geological companies including Ausenco, EDEM and Micon and other individual consultants on the Almas Gold Project. The study consisted mainly of the update of the Mineral Resource Model and further metallurgical test work, pit design, mine schedule, tailings management technologies, costs, and economic model, providing an increased level of accuracy in the Project estimates with respect to the previous 2016 feasibility Study for Rio Novo by RPM.