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Operations
Operations

Aranzazu Reserves and Resources

Aranzazu Mineral Resource as of November 2009*

Resource Category  Tonnes (000)  Copper (%)  Au  (g/t) Ag (g/t)
Measured 1,740 1.33 0.63 12.93
Indicated 11,107 1.34 0.48 11.70
Total Measured and Indicated Resources  12,848 1.34 0.50  11.87
Inferred 3,217 1.17 0.28 6.44

* Based on 0.8% cut-off grade.

For more information on mineral resource estimates for the Aranzazu Project, please consult the Company's press release dated November 2, 2009, entitled “Aura Minerals Announces New Resource Estimate for the Aranzazu Project.” This resource estimation has been prepared by Aura Minerals, under the direction of William J. Lewis, B.Sc., P.Geo. of Micon International Limited, an independent Qualified Person for the purpose of NI 43-101. A report under NI 43-101, disclosing the updated resource for the Aranzazu Project, is being prepared by Micon International Limited Inc. and will be filed by Aura Minerals on SEDAR within 45 days. Mr. Lewis has also reviewed and approved the contents of the November 2, 2009 news release as applicable.