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Company

Directors

Paulo Carlos de Brito, Chairman of the Board and Director

Mr. Brito was appointed the non-executive Chairman of the Board in May 2016. Mr. Brito is a businessman with over 45 years of experience in mining, energy and agricultural businesses. Mr. Brito has worked extensively in and outside of Brazil including most of Latin America. Mr. Brito has founded several companies including Cotia Trading. S.A. (a trading company), Mineracao Santa Elina Ind. E Com. S.A. (a mining company focused on the development, exploration and research of various minerals) and Biopalma da Amazonia S.A. (a palm oil production company). Mr. Brito serves on the Boards of Quanta Geracao S.A. (a company engaged in the generation and marketing of hydroelectric power) and Sertrading S.A. (a trading company). Other than the shares owned by Northwestern Enterprises Ltd. (approximately 48% of Company’s issued and outstanding), Mr. Brito does not beneficially own any additional shares of the Company.

Patrick J. Mars, Director

Mr. Mars acted as the non-executive Chairman of the Board from March 2008 to May 2016. Mr. Mars is a corporate director with extensive experience in mining financing and analysis gained during his career of over 30 years in the Canadian investment industry. For the majority of his career he was with Alfred Bunting & Co./Bunting Warburg, a Canadian investment dealer and stockbroker where he was President and CEO from 1981 to 1994. During this time, he served three year terms both as a governor of the Toronto Stock Exchange and director of the Investment Dealers Association. Presently, he is a director of Yamana Gold Inc., Carpathian Gold Inc. and Sage Gold Inc. Mr. Mars is also the President of P.J. Mars Investments Limited, a private company, and sits on the board of directors of the Renascent Foundation, a charitable organization.

Jim Bannantine, Director

Mr. Bannantine joined Aura Minerals in October 2011. Prior to joining Aura Minerals, Mr. Bannantine served as CEO of Intercap Energy Systems, a provider of systems and software to electric utilities and large commercial, campus and government customers. From 2005 to early 2010, Mr. Bannantine was a partner in Atlantic Capital Group and served as Managing Partner of their private equity activities, responsible for origination, investment due diligence, negotiation of transactions, investment pricing and structuring and fund raising. Between 2001 and 2005, Mr. Bannantine founded Acumen Capital, LLC, a private equity firm. From 2001 through 2002 Mr. Bannantine led and then sold a start-up company, Dorsal Networks, to Corvis Corporation (NASDAQ: CORV). Corvis subsequently became Broadwing Corporation (NASDAQ: BWNG), a $900 million telecom company, where Mr. Bannantine served as President and Chief Operating Officer from 2003 through 2005. Mr. Bannantine worked with Enron Corporation for ten years, from 1990 to 2000, holding several top management positions, including six years in Brazil, most notably as Chief Executive Officer for Enron South America, the power and pipeline division of Enron with assets of $3.5 billion and 4,500 employees. Prior to Enron, Mr. Bannantine served in the United States Army as Contracting Officer for the Corp of Engineers in Honduras, and as an Assistant Professor of Economics and Finance at the US Military Academy. Mr. Bannantine received an MBA from the Wharton School with Distinction and is a West Point Distinguished Graduate. He is a licensed Professional Engineer and is a board member of several private companies, organizations and charities.

Stephen Keith , Director

Mr. Keith was appointed a director of the Company in August 2011. Mr. Keith has worked on projects in more than 30 countries, with a concentration in Latin America. He has over 16 years of experience working with mining and energy companies, spearheading projects through feasibility studies, engineering design, project management and construction. He has engaged in over C$2 billion in financings and merger and acquisition deals for natural resource projects. Mr. Keith is currently the President of GrowMax Resources Corp. (TSX-V:GRO), a company focused on exploration and development of phosphate and potassium-rich brine resources. Mr. Keith was formerly the Managing Director of Fertoz Ltd. (ASX:FTX), an emerging agribusiness progressing towards commercial production of organic phosphate in Canada and an expanding fertiliser distribution business in Australia; the former President and CEO of Recife Gold, an emerging explorer and developer of gold assets in Brazil; the President and CEO of Search Minerals Inc. (TSX-V:SMY), a company focused on the exploration and development of Strategic Metals; and a founder and the President and Chief Executive Officer of Rio Verde Minerals Development Corp. (TSX:RVD), a company he took from concept to listing onto the TSX, with over $30 million completed in equity financings. Mr. Keith led Rio Verde until its acquisition by B&A Fertilizers Limited on March 13, 2013. Mr. Keith has previously held the titles of Vice President, Corporate Development at Plutonic Power Corporation; Director, Investment Banking at Thomas Wiesel Partners; Vice President, Investment Banking at Westwind Partners Mining Group; and Manager, Technical Services with Knight Piesold Consulting. He holds a BSc, Applied Science (Queen's University), an International MBA (York University, Schulich School of Business) and a PEng (Ontario and British Columbia).

Juarez Saliba de Avelar, Director

Mr. Saliba was appointed a director of the Company in August 2016. Mr. Saliba was previously the CEO of Zamin Ferrous in 2014 and previous to that he was an Executive Officer of Companhia Siderurgica Nacional (CSN), one of the largest steel-makers in Brazil between 2011 and 2013. Prior to that, he was CEO of Steel do Brasil from 2010 to 2011 and before that he headed up Companhia Siderurgica Nacional’s (CSN) iron ore operations for seven years. He had a 17 year-long career at Vale, the world’s largest iron ore producer and exporter group, including a year as CEO of Ferteco, one of Vale’s acquired companies and he managed the successful integration of Vale’s acquisitions including Samitri and Socoimex. During his time at Vale, he held managerial positions where he was responsible for the operations and administration of Vale’s north and south Brazilian assets, including managing the mines, railways and ports as well as planning and implementing Vale’s strategy for the consolidation of the iron ore industry in Brazil. Mr. Saliba holds a degree in Mining Engineering from the Federal University of Minas Gerais (UFMG) in Brazil.