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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 technical report dated December 7, 2009, entitled “NI 43-101 Technical Report and Resource Estimate on the Aranzazu Property Zacatecas State, Mexico.” This resource estimation has been prepared for Aura Minerals by William J. Lewis, B.Sc., P.Geo. of Micon International Limited, an independent Qualified Person for the purpose of NI 43-101.