ROAD TOWN, British Virgin Islands - Aura Minerals Inc. (NASDAQ: AUGO and B3: AURA33) ('Aura' or the 'Company') is pleased to announce Q4 2025 preliminary production results from the Company's six operating mines: Aranzazu, Apoena, Minosa, Almas, Borborema and MSG ('Mineracao Serra Grande').
Total production in Q4 2025, at current prices, reached 82,067 gold equivalent ounces ('GEO')1, a record high in the history of the Company, 11% higher than Q3 2025 and also 23% higher when compared to Q4 2024. At constant prices2, Aura's quarterly production increased by 12% compared to Q3 2025 and 30% above Q4 2024. In 2025, the total production reached 280,414 GEO at current prices, 5% above 2024 at current price and 9% at constant prices. At 2025 Production Guidance Prices3, the production of 2025 was 285,380 GEO (MSG not included), ending the year achieving the upper half of the Company's 2025 Production Guidance (266k GEO - 300k GEO).
Rodrigo Barbosa, CEO and President, commented: 'We are delighted to close 2025 on a high note, delivering 82.1k GEO in Q4 at current prices - a 5% increase over Q3 and 24% above Q4 2024 - driving full-year production to 280k GEO at current prices or 290k GEO at guidance prices. This outstanding result not only surpasses the midpoint of our 2025 guidance but also underscores our robust growth trajectory, even before fully realizing the successful ramp-up at Borborema or the additional production from our recent MSG acquisition. We remain committed to three clear paths for delivering value to our shareholders: developing greenfield projects to boost production, investing in exploration to extend the life of our mines, and pursuing strategic growth through M&A. In 2025, we achieved key milestones in all, including increased production, extended mine lives, and two transformative acquisitions: Era Dorada and MSG. These accomplishments position us strongly for continued success and value creation and to achieve over 600k GEO during the years ahead.'
Q4 2025 | 2025 Highlights
At Aranzazu, production reached 18,878 GEO, representing a 12% decrease compared to the previous quarter, resulting mainly from metal prices since higher gold prices negatively impact the conversion to GEO. When compared to Q4 2024, production decreased by 19% due to the sharp increase in gold and silver prices between the periods which also impacted GEO conversion. At constant prices4, Aranzazu production was 7% lower when compared to Q3 2025 as well as compared to Q4 2024, due to slightly lower grades of copper, silver and gold, due to mine sequencing and according to the Company's plan. In 2025, total production decreased by 15% compared to the previous year at current prices, reaching 83,149, in line with the negative impact of the metals price conversion. At constant prices, Aranzazu produced 78,771 GEO, in line with the same period of the previous year, mainly due to higher grades and commercial molybdenum production. At 2025 Guidance Prices3, Aranzazu ended 2025 with a production of 92,876 GEO, in line with the Guidance range.
At Minosa, production totaled 17,818 GEO in Q4 2025, 2% lower than Q3 2025 and 8% Q4 2024, mainly due to the impact of the rainy season and an expansion works to increase the stacking area. In 2025, production achieved 71,649 GEO, a decrease of 9% mainly due to lower ore feed to the plant, reflecting mine sequencing and weather-related constraints, but consistent with Aura's expectations. This performance allowed Minosa to close 2025 at the upper end of the Guidance range.
At Almas, production reached 15,872 GEO, 5% higher than Q3 2025 (15,088 GEO), driven by higher ore processed volumes and improved mine performance, reflecting the results of the plant expansion. Production was 5% lower when compared to Q4 2024, due to the grades decrease from 1.2g/ton to 1.02g/ton in line with the mine sequencing. Also, as a result of the expansion project, Almas closed 2025 with production of 56,979, 5% higher than the prior year, despite lower grades due to mine sequencing. With this performance, Almas ended the year near the upper end of its Guidance.
At Apoena, production was 8,961 GEO, 3% lower than Q3 2025, driven by due to lower ore feed to the plant and lower recovery, but in line with the Company's plan. Compared with Q4 2024, production increased 26%, primarily because of higher recovery rates, with 4% increase, and higher grades, from 0.70 g/ton to 0.79 g/ton. In 2025, production was of 35,304 GEO, a decrease of 5% when compared to 2024, attributable mainly to lower grades and lower ore mined as expected. Considering the full year of 2025, Apoena exceeded the Company's expectations by delivering higher grades and improved productivity, allowing the mine to finish 2025 above the upper end of the Guidance range, which was 32k GEO.
At Borborema, production totaled 15,777 GEO, 54% above the previous quarter, reflecting progress along the ramp-up curve, achieving higher milling throughput, prioritizing higher-grade material, and increasing overall recovery. During the year, Borborema delivered results below the guidance range, mainly due to lower recoveries achieved during the pre-commercial production phase. This led to the decision to feed the plant with lower-grade material until full stabilization of performance. Performance improved significantly over the course of the year, and at the end of Q4 2025, recovery reached 91.7%, a significant improvement compared to the start of the ramp-up (76.5%), along with a 35% increase in grade compared to 2Q25, closing the year with an average grade of 1.42 g/t, due to mine sequencing.
Considering the conclusion of the acquisition of MSG on December 2, 2025, Aura is consolidating MSG's results only for the month of December, which a production of 4,761 GEO in the month.
About Aura 360-degree 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-degree Mining.
Aura is a company focused on the development and operation of gold and base metal projects in the Americas. The Company's six operating assets include the Minosa gold mine in Honduras; the Almas, Apoena, Borborema and MSG gold mines in Brazil and the Aranzazu copper, gold, and silver mine in Mexico. Additionally, the Company owns Era Dorada, a gold project in Guatemala; Tolda Fria, a gold project in Colombia and three projects in Brazil: Matupa, which is under development; Sao Francisco, which is in care and maintenance and the Carajas copper project in the Carajas region, in the exploration phase.
Contact:
Email: ri@auraminerals.com
Web: www.auraminerals.com
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.
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 and to the Company's Form F-1 filed with the U.S. Securities and Exchange Commission ('SEC') for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, volatility in the prices of gold, copper and certain other commodities, 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 as described in filings with Canadian securities regulators and the SEC. 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.
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