Investor Presentation (PDF 2.48 MB) - Aura Minerals Inc.

Corporate Presentation
March 2013

Forward-Looking Statements and Cautionary Notes
This document contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this presentation or as of the
effective date of information described herein, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations
or beliefs regarding future events and include, without limitation, statements with respect to: (i) the amount of mineral reserves and mineral resources; (ii) the amount of future production
over any period; (iii) the amount of waste tonnes mined; (iv) the amount of mining and haulage costs; (v) cash costs; (vi) operating costs; (vii) strip ratios and mining rates; (viii) expected grades
and ounces of metals and minerals; (ix) expected processing recoveries; (x) expected time frames; (xi) prices of metals and minerals; (xii) mine life; and (xiii) anticipated gold hedge programs.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not
always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "envisages", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements. All forward-looking statements are based on the Company's or its consultants' current beliefs as well as various
assumptions made by and information currently available to them. These assumptions include, without limitation: (i) the presence of and continuity of metals at the Company’s mines at
modeled grades; (ii) the capacities of various machinery and equipment; (iii) the availability of personnel, machinery and equipment at estimated prices; (iv) exchange rates; (v) metals and
minerals sales prices; (vi) appropriate discount rates; (vii) tax rates and royalty rates applicable to the mining operations; (viii) cash costs; (ix) anticipated mining losses and dilution; (x) metals
recovery rates, (xi) reasonable contingency requirements; and (xiii) receipt of regulatory approvals on acceptable terms. Although management considers these assumptions to be reasonable
based on information currently available to it, they may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward looking statements, such
as statements of net present value and internal rate of return, which are based on most of the other forward-looking statements and assumptions herein. The cost information is also prepared
using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period. By their very nature, forward-looking
statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or
that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the
actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements. These
risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, but specifically include, without limitation, risks relating to variations in the
mineral content within the material identified as mineral reserves and mineral resources from that predicted, changes in development or mining plans due to changes in logistical, technical or
other factors, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on
projected future conditions, fluctuating metal prices (such as gold, copper, silver, nickel and iron ore), currency exchange rates (such as the Canadian dollar, Brazilian Real, Mexican Peso and the
Honduran Lempira versus the United States dollar), possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company’s corporate resources, changes in
project parameters as plans continue to be refined, changes in project development and production time frames, the possibility of project cost overruns or unanticipated costs and expenses,
higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as
anticipated, unexpected changes in mine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the
development of new deposits, success of exploration activities, successful completion of proposed acquisitions, permitting time lines, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcome of pending litigation and labour disputes,
as well as those risk factors discussed or referred to in the Company’s Annual Information Form, dated March 28, 2012, under the heading “Item 4.1– Risk Factors”. The foregoing list of factors
that may affect future results is not exhaustive. The reader is cautioned not to place undue reliance on forward-looking statements. When reviewing this presentation, including forwardlooking
statements herein, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any
forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law. The forward-looking
statements contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and results as at and for the
periods ended on the dates presented in the Company’s plans and objectives and may not be appropriate for other purposes. The reader is also cautioned that mineral resources that are not
mineral reserves do not have demonstrated economic viability.
TSX: ORA 2

Investment Highlights
• Strong Copper and Gold Resource Platform to
Support Organic Growth
• Executing 2 Transformational Projects
• Serrote Copper Project - Game Changer and
Significantly De-Risked
• Aranzazu capacity expansion from 2,600 tpd
to 4,000 tpd and roaster installation –
addresses scale, efficiency and profitability
• On Route for Significant Operational Improvement
at Existing Mines
• Monetization of Brazilian Gold Mines
• World Class Management and Board of Directors
• Positive Cash Flow Generation
• Highly Undervalued Relative to Peers
TSX: ORA 3

Portfolio Profile
• 3 Gold Mines
• 1 Copper-Gold-Silver Mine
• 1 Copper-Gold Development Project
• Resource Base:
Aranzazu Copper-Gold-Silver Mine,
100% - Mexico
San Andres Gold Mine, 100%
Honduras
• Gold: 2.6 Million oz M&I
• Copper: 1.8 Billion lbs M&I
São Vicente
Gold Mine, 100%
Brazil
São Francisco
Gold Mine, 100%
Brazil
Serrote Copper-Gold
Project, 100% - Brazil
TSX: ORA 4

Key Executive Management
Senior management team focused on development and execution. Highly experienced individuals with varied
mining, technical, operational and finance skills
Jim Bannantine, P. Eng.
President & CEO
Joined ORA in November 2011
• Partner Atlantic Capital Group – Private Equity
• President & COO Broadwing Corp. (NASDAQ)
• CEO Enron South America, a division with a $3.5
billion pipeline and 4,500 employees
• US Army Contracting Officer for the Corp. of
Engineers in Honduras
• MBA Wharton Business School
Neil Hepworth
SVP Brazil
Joined ORA in December 2010
• VP of Operations for both European
Goldfields and Crew Gold
• Held progressively responsible technical and
operational roles and is recognized for his
geotechnical expertise in open pit and u/g
mine operations throughout Africa and
Europe
Monty Reed
General Manager, San Andres Mine
Joined ORA in August 2011
• Senior project and operations roles throughout
the Americas, notably in regions with complex
community relations issues and tropical climates
• Has worked with Silver Standard, Buffalo Gold,
IAMGold, and Placer Dome on development and
operation of open pit mines
Agne Ahlenius
General Manager, Aranzazu Mine
Joined ORA in August 2012
• 25 years in international mining operations and
development projects
• Served as the COO of Orvana Minerals, General
Manager, Kinbauri España S.L. for El Valle
operation in Asturias, Spain
Rory Taylor, CA
CFO
Joined ORA in March 2012
• VP Finance, Mining Operations at Endeavour
Mining Corporation
• VP Finance at Crew Gold for 6 years with
projects in West Africa, Greenland and the
Philippines
TSX: ORA 5

Turning Around to Positive Cash Flow, Operation Efficiency and Growth
Operating Cash Floe - US$ Million
30.0
25.0
20.0
15.0
10.0
5.0
-
(5.0)
(10.0)
- New CEO
- Brazilian
Mines
Resource
Review
- Credit
Facility &
Hedging
- Serrote
Feasibility
Award
- Crusher
downtime
at SF
- Key Op.
Hiring
- G&A
Reduction
- PEA
Aranzazu
Expansion
In-Fill and
Step-Out
Drilling at
San Andres
Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 2013 2014, 2015…
43,864 oz 37,587 oz 42,361 oz 43,059 oz 49,472 oz
Gold Production
- Serrote
Feasibility
Study
- Crusher
downtime
at SV
- Serrote Financing &
Construction
- Aranzazu Expansion &
Roaster Installation
- Brazilian Mines
Monetization
- San Andres Reserve &
Resource Update
Operational & Corporate Restructuring
Growth
TSX: ORA 6

Project Execution Pipeline
2013E 2014E 2015E 2016E 2017E 2018E…
Aranzazu: 13-15M lbs in 2013
Ramping up to 21-22M lbs
Aranzazu Expansion + Roaster Installation* : 30M lbs per year on avg.
Serrote** : 65M lbs per year on avg.
San Andres: ~60-65 Koz per year on avg.
Brazilian Mines: total of ~140-
160Koz + Disposition of Assets
(all amounts shown above are expected average annual production, where applicable)
* Aranzazu production estimate: As per NI 43-101 compliant report entitled Technical Report - Preliminary Economic Assessment of the Expansion of the
Aranzazu Mine Zacatecas Mexico dated August 31, 2012 (effective date of July 12, 2012) prepared by AMC Mining Consultants (Canada) Ltd., a copy of which
may be found on the Company's profile on SEDAR at www.sedar.com and on the Company’s website at www.auraminerals.com.
** Serrote production estimate: As per Serrote technical report dated September 4, 2012, and entitled "NI 43-101 Technical Report on the Feasibility Study
for the Serrote da Laje Project, Alagoas State, Brazil", which was prepared for Aura Minerals by by Micon International Limited under the guidance of SNC-
Lavalin Inc.., a copy of which may be found on SEDAR at www.sedar.com and on the Company’s website at www.auraminerals.com.
.
TSX: ORA 4

Business Plan - Summary
• Aranzazu production to almost double by end of 2014
(PEA, July 2012)
• Expected to be funded with internal cash flow
• EBITDA will replace Brazilian Mines
• Development of Serrote da Laje Project (Feasibility, Nov 2012)
• Expected to significantly expand the size of the
Company
• Project Financing
• San Andres provides continuous cash flow for corporate use
over a long mine life – reserve update expected to Q2’13
• Brazilian Mines to provide additional operating cash flow until
closure
• Covers capex for Aranzazu expansion and roaster
• São Vicente into 2014 and São Francisco into 2015
• Advanced discussion to monetize the assets after
closing
TSX: ORA 8

Ongoing Initiatives at Current Operations
Aranzazu
- Smelter penalty and charges over high
arsenic levels
- Mine & Plant Capacity Expansion
• Roaster installation will decrease arsenic levels and significantly reduce
smelter penalties and charges
• Roaster commissioning to precede expansion
• Basic engineering and early procurement in progress
San Andres
- Community Relations
- Achieve better recoveries and operational
efficiency
• Completed negotiations with local communities to enable mine
development
• Two primary crushers; new stacker; 2-stage leach process; new water
treatment; new secondary crusher
• In-fill and step-out drilling in progress – upcoming reserve update and
new mine plan
Brazilian Mines
- High Cash Costs
- End of Mine Life
• Optimized mine plan to end of mine life
• Actively assessing opportunities to monetize processing plants &
ancillary equipment
TSX: ORA 9

Assets Summary
Asset
Avg. Production
per year
Avg. Cash Costs
(US$)
Life of
Mine
(years)
Comments
Aranzazu Copper-Gold Mine* 30Mlbs $1.15-1.25 / lb 16 Starting end of 2014 – after expansion
Serrote Copper-Gold Project** 65Mlbs $1.40 /lb 15
For 100% ownership
full capacity starting H2’15
San Andres Gold Mine 65,000 oz $1,000 / oz 10 Upcoming reserve update (Q2’13)
Brazilian Gold Mines 100,000 oz $1,100 /oz 1.5 Asset monetization
* Serrote production and cost estimates: As per Serrote technical report dated September 4, 2012, and entitled "NI 43-101 Technical Report on the Feasibility Study for the Serrote da Laje Project, Alagoas State,
Brazil", which was prepared for Aura Minerals by by Micon International Limited under the guidance of SNC-Lavalin Inc.., a copy of which may be found on SEDAR at www.sedar.com and on the Company’s
website at www.auraminerals.com.
** Arazanzu production and cost estimate: As per NI 43-101 compliant report entitled Technical Report - Preliminary Economic Assessment of the Expansion of the Aranzazu Mine Zacatecas Mexico dated August 31,
2012 (effective date of July 12, 2012) prepared by AMC Mining Consultants (Canada) Ltd., a copy of which may be found on the Company's profile on SEDAR at www.sedar.com and on the Company’s website at
www.auraminerals.com.
TSX: ORA 10

Copper Assets - Value Through Organic Growth
Serrote Execution + Aranzazu Expansion Places Aura in the 80-120Mlbs Copper Producer League
* Serrote production estimate: As per Serrote technical report dated September 4, 2012, and entitled "NI 43-101 Technical Report on the Feasibility Study for the Serrote da Laje Project, Alagoas State, Brazil",
which was prepared for Aura Minerals by by Micon International Limited under the guidance of SNC-Lavalin Inc.., a copy of which may be found on SEDAR at www.sedar.com and on the Company’s
website at www.auraminerals.com.
** Arazanzu production estimate: As per NI 43-101 compliant report entitled Technical Report - Preliminary Economic Assessment of the Expansion of the Aranzazu Mine Zacatecas Mexico dated August 31,
2012 (effective date of July 12, 2012) prepared by AMC Mining Consultants (Canada) Ltd., a copy of which may be found on the Company's profile on SEDAR at www.sedar.com and on the Company’s website
at www.auraminerals.com.
TSX: ORA 11

1-Asset Pure Copper Player
Serrote da Laje
(TSX:ORA)
Hot Chili Ltd.
(ASX:HCH)
Copper Mountain
Mining Corp. (TSX:CUM)
Ownership 100% 100% (earn in) 75% - 25% Mitsubishi
Location Alagoas-Brazil Chile British Columbia-Canada
Status Feasibility Study PEA (BFS Due in mid-2014) Producer since 2012
Licensing Granted EIA Commenced in Jan’13 Producer
Reserves
0.98 Billion lbs Cu
(Proven & Probable)
0.92 Billion lbs Cu
(Indicated+Inferred)
2.4 Billion lbs Cu
(Proven & Probable)
Copper Grade 0.50% 0.60% 0.35%-0.40%
Strip Ratio (LOM) 2.7x 3.5-4.5x 2.1x
Life of Mine (years) 13 20 17
Throughput 20,000 tpd 30,000 tpd 35,000 tpd
Target Production
2015: 32Mlbs
Ramp Up to avg. 65Mlbs –
over 13 yr
2016E: ~60Mlbs 2012: 60Mlbs (45Mlbs share)
Ramp Up to 100Mlbs
Over 12 yr
(75Mlbs share)
C1 Cash Cost (Net) $1.40 $1.20-$1.50 $2.40
Capex $420 M $500-$700 M $450 M (Brownfield)
Market Cap. $199 million $283 million
Source: Research reports, company websites and presentations – Mkt. Cap. as of March 21, 2012
TSX: ORA 12

Key Milestones
Year Serrote Aranzazu San Andres Brazilian Mines
2013 • Project Financing
• Complete resettlement
• Power and water supply
agreements
• Detailed engineering
• Construction Approval
• Procurement
• Construction Start
• Engineering &
Procurement
• Basic engineering
study for increased
4,500 tpd capacity
• Reserve & Resource
update in Q2’13
• Enhanced new mine
plan
• Operational efficiency
enhancements
• Achieve strong positive
cash flow from both
operations
2014 • Continue Construction • Completion of
roaster installation
and capacity
increase
• Potential throughput
increase
• São Vicente closure
• Exchange of SV plant
for cash or interest in
strategic partner
2015 • Commissioning - Start-
Up – Ramp-Up
• Completion
• Start-up with new
capacity rate
• Continued steady-state
source of cash flow
• São Francisco closure
TSX: ORA 13

Gold Production
180,000
Gold Production Guidance
San Andres Gold Mine
• Targeting 60,000 - 65,000 oz
São Francisco Gold Mine
• Targeting 78,000 - 88,000 oz
São Vicente Gold Mine
• Targeting 28,000 - 32,000 oz
Total 2013
• 166,000 - 185,000 oz
Au Ounces
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
-
2009A 2010A 2011A 2012A 2013E (*)
SanAndres 25,282 70,640 60,871 59,751 62,500
Sao Francisco - 36,277 56,286 79,573 83,000
Sao Vicente - 30,600 43,002 33,155 30,000
(*) 2013E Guidance Mid-Point
TSX: ORA 14

San Andres Gold Mine
Steady Source of Cash Flow over a Long Mine Life
Reserve & Resource Upgrade in Sight
TSX: ORA 15

San Andres Gold Mine
• Acquired in August 2009
• Generating significant free cash flow going
forward
• Commencement of Q3 2012 drill program to
prove out additional resources
• Successful negotiations with local communities
to enable enhanced mine development
Location Honduras
Ownership 100%
Project Type Open Pit, Heap Leach
P&P Reserves 784 Koz**
M&I Resources 1,631 Koz (includes reserves)**
Throughput 10,000 tpd
LOM
10 years
2013 Guidance 60,000-65,000 oz
Koz
70.0
60.0
50.0
40.0
30.0
20.0
10.0
(*) 2013E Guidance Mid-Point
-
2010A 2011A 2012A 2013E
** San Andres production estimate: As per NI 43-101 compliant report entitled “Technical Report - Resource and Reserve Estimates
on the San Andres Mine in the Municipality of La Union, Department of Copan, Honduras”, dated March 28, 2012 (effective date of
December 31, 2011) prepared by J. Britt Reid, P.Eng., the Executive Vice President and Chief Operating Officer of Aura Minerals,
Bruce Butcher, P.Eng., the Vice President, Technical Services of Aura Minerals and, Chris Keech, P.Geo., former Manager,
Geostatistics of Aura Minerals (currently Principal Geologist of CGK Consulting Services Inc.), a copy of which may be found on the
Company's profile on SEDAR at www.sedar.com and on the Company’s website at www.auraminerals.com.
TSX: ORA 16

Key Operating Initiatives
• Significant operational flexibility with two
primary crushers
• Planned addition of second secondary
crusher in 2013
• Installation and operation of new stacker –
reduces pad pressure; improves percolation
• New water treatment plant now
operational
• New block model and life of mine plan
expected to increase mine life
TSX: ORA 17

Exploration Potential & Drilling Program
• Ongoing 15,000 In-Fill and
Step-Out drilling – 11,000m
to date
• Additional 15,000m for
2013
• Second phase of
drilling program will
target resource areas
within the concession
but outside current
reserve pits
• Reserve & Resource update
expected in Q2’2013
San Andres – Drilling Campaign 2012-
2013
TSX: ORA 18

Aranzazu Copper-Gold Mine
Expansion to 4,000
tpd Capacity and
Roaster Installation to
Unlock Value of
Aranzazu Copper-Gold
District
TSX: ORA 19

Aranzazu Copper-Gold
• Acquired in 2008 - Commercial production
declared in Feb 2011
• Achieved full production from mine and mill
throughput – 2,600 tpd
• Site services, building and infrastructure
established and operational
• Moving into higher production of primary
sulphide ore from underground production
Location
Ownership 100%
Project Type
M&I Resources
Capacity
LOM
Zacatecas, Mexico
Open Pit-Under Ground,
flotation
588 Mlbs Cu; 390Koz Au**
2,600 tpd
13 years
2013 Guidance 13Mlbs-15Mlbs
Million lbs
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
(*) 2013E Guidance Mid-Point
-
2011A 2012A 2013E
** Arazanzu production estimate: As per NI 43-101 compliant report entitled “Technical Report - Preliminary Economic Assessment
of the Expansion of the Aranzazu Mine Zacatecas Mexico”, dated August 31, 2012 (effective date of July 12, 2012) prepared by AMC
Mining Consultants (Canada) Ltd., a copy of which may be found on the Company's profile on SEDAR at www.sedar.com and on the
Company’s website at www.auraminerals.com.
TSX: ORA 20

Mitigation of Arsenic Levels, Charges and Penalties
• Optimization of the mix of ore feed to the
plant
• Metallurgical test work has been performed
on a greater number of samples, more
representative of the deposit
• Placement of all concentrate production
from Aranzazu to mid-2014
• Maximize NSR based on campaigning and
blending the different arsenic levels to
optimize the multiple off-take contracts
• Decrease in arsenic charges and penalties
based on successfully completed off-take
negotiations
• Anticipated 2013 costs of $3.10-3.60/lb of Cu
net of credits, including charges and
penalties for arsenic
TSX: ORA 21

Organic Expansion Opportunity
• Capacity increase from 2,600 tpd to 4,000 tpd by
end of 2014
• Avg. 30Mlbs per year
• Partial roasting of concentrate selected as the longterm
solution to decrease Arsenic levels
• Roaster commissioning to coincide with expansion
• LOM of 16 years at 4,000 tpd - cash costs of $1.15
per lbs Cu
• Capex: $107M in 2013 & 2014
• $62M Mine; $45M Plant
• Funded from internally generated cash flows
• Engineering & Procurement at full swing; mine
development proceeds at pace
• Ongoing assessment of 4,500 tpd capacity
• Basic engineering study to be completed by
July 2013
TSX: ORA 22

District Potential for Expansion
• 25 kilometres east of Peñasquito and 35
kilometres Northeast of Camino Rojo
• Located in same intrusive package as the
Tayahua mine (Minera Frisco) – currently
undergoing major expansion
• Excellent Infrastructure: roads, airports,
communications and power
• Nearby cities of Saltillo and Zacatecas –
reliable supply of contractors, goods and
services
• Resources open at strike and depth
TSX: ORA 23

São Francisco & São Vicente Mines
Source of Cash Flow to 2014
Processing Plants as Corporate Development Currency
TSX: ORA 24

São Francisco Gold Mine
• Open Pit - Heap Leach - Gravity Circuit
• Mining stops at end of 2013, but heaps
continue producing into 2015 (end of mine
life)
• Key Initiatives
• Optimized mine plan to end of mine life
• Overall cost reduction program
implemented
• Processing of tailings
• 2013 forecast production of 78,000 - 88,000
ounces
TSX: ORA 25

São Vicente Gold Mine
• Open-pit, heap leach, gravity circuit
• São Vicente production into 2014 (to end
of mine life)
• Mining stops in mid-2013, processing in
October, but heaps continues to produce
gold in 2014
• 2013 forecast production of 28,000 –
32,000 ounces
• Potential exchange of plant for cash or
interest in strategic partner
TSX: ORA 26

Serrote da Laje Copper-Gold Project – Substantially De-Risked
Feasibility Study Completed – NI 43-101 report filed
Permitted for Construction
Access to Roads, Railway, Ports, Towns, Power and Water
Community and Government Support
Resettlement Plan initiated
Off-Take Alternatives
Advanced Funding Negotiations – Robust Debt Repayment Capacity
Main Engineering Package Awarded
Major Processing Equipment Bids Received
TSX: ORA 27

Serrote da Laje Copper Project
Operating Metrics
Start-Up
Mid-2015
Licensing
Installation License Granted
Plant Capacity
7Mtpy Copper Concentrator (flotation)
LOM Production
831Mlbs Cu; 171Koz Au Total / Avg. ~66Mlbs per year
LOM
13 years
LOM Avg. Grade
0.52% Cu and 0.10 g/t Au (0.60% to 0.74% during first 4 years)
LOM Strip Ratio 2.7:1
Financials
After Tax NPV 8% and IRR 191 million; 19.4%
Capex
$420 million (net of recoverable taxes);
LOM Cash Costs
$1.40 per lbs
Effective Tax Rate 15.25% (Net of State and Federal tax incentives)
TSX: ORA 28

Project Area
Caboclo Target
Serrote da Laje
Deposit
Rail line
HT Power Line
Maceio port
145 km drive
to East
TSX: ORA 29

Infrastructure & Off-Take Alternatives
• Power Supply
• Construction of regional 230kV substation in
progress
• 20km line between project and Arapiraca substation
• Water supply
• PPP contract awarded
• Tie-in to upgraded regional water supply
• Concentrate delivery
Water
• Smelter in state of Bahia; Ocean freight via Maceio
port
Logistics
Maceio Port - 145km
Power
Bahia Smelter - 450km
TSX: ORA 30

Project Development & Execution Schedule
Activity
2012 2013
2014
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Q4
2015
Q1 Q2 Q3 Q4
2016
Q1
Development Phase
Land Resettlement Purchase & Resettlement
Early Engineering
Early Procurement Awards
Early Construction Bidding
Detail Engineering
Project Execution Approval
Procurement
Construction
Commissioning and Handover
Start-up
Ramp-Up
Project Completion
TSX: ORA 31

Corporate Structure & Financial Position
Exchange/Symbol
Share Structure
Issued and outstanding
Fully diluted*
TSX/ORA
228 Million
245 Million
Ownership
Management, Directors & Insiders
Cyprus River Holdings
Yamana Gold
Institutional Investors
Financial*
Cash and equivalents
Facility credit available
Credit facility drawn
13%
23%
19%
20%
US$9.3 Million
US$15.0 Million
US$30.0 Million
* Information as at December 31, 2012
TSX: ORA 32

Corporate Responsibility
TSX: ORA 33

Appendices
TSX: ORA 34

Reserve & Resource Statement
Aranzazu Minerals Resource
Tonnage
(000 t)
Copper
(%)
Gold
(g/t Au)
Silver
(g/t)
Contained
Copper
(000 lbs)
Contained
Gold
(000 oz)
Contained
Silver
(000 oz)
Measured 8,338 1.36 0.82 14.06 250,215 219 3,768
Indicated 9,432 1.63 0.56 21.45 338,523 171 6,504
Total Measured & Indicated 17,770 1.50 0.68 17.98 588,738 390 10,272
Inferred 5,808 1.40 0.58 17.64 178,902 94 3,295
Note: Mineral Resources and Mineral Reserves as at September 1, 2011 - Based on 0.8% copper cut-off grade. Numbers may not add due to rounding.
For additional information on the mineral resource estimate, please consult the technical report entitled Technical Report - Preliminary Economic Assessment of the Expansion of the Aranzazu Mine Zacatecas Mexico
dated August 31, 2012 (effective date of July 12, 2012) prepared by AMC Mining Consultants (Canada) Ltd., a copy of which may be found on the Company's profile on SEDAR at www.sedar.com.
Serrote – M&I Resource for Sulphide Material
Tonnage
(000 t)
Copper
(%)
Gold
(g/t Au)
Contained
Copper
(000 lbs)
Contained Gold
(000 oz)
Total Proven & Probable Reserve 85,471 0.52 0.10 979,843 274,782
Measured & Indicated
Measured 63,319 0.51 0.11 718,771 220.5
Indicated 55,894 0.48 0.08 596,779 150.1
Total Measured & Indicated 119,213 0.50 0.10 1,315,550 370.6
Inferred 5,024 0.35 0.06 38,633 9.2
Note: Mineral Resources are inclusive of Mineral Reserves; Mineral Resources as at September 14, 2010; Mineral Reserves as at April 10, 2012
For additional information on the Mineral Reserves and Resources, please consult the NI 43-101 compliant technical report dated April 10, 2012, and entitled "NI 43-101 Technical Report on the Feasibility Study
for the Serrote da Laje Project, Alagoas State, Brazil", which was prepared for Aura Minerals by Micon International Limited under the guidance of SNC-Lavalin Inc., a copy of which may be found on the
Company’s profile on SEDAR at ww.sedar.com and on the Company’s website at www.auraminerals.com.
TSX: ORA 35

Reserve & Resource Statement
San Andres Tonnage (000 t) Gold (g/t Au) Contained Gold (000 oz)
Total Proven & Probable Reserve 45,762 0.53 784
Total Measured & Indicated Resource 98,939 0.51 1631
Inferred Resource 1,918 0.51 32
Note: Mineral Resources are inclusive of Mineral Reserves; Mineral Resources and Mineral Reserves as at December 31, 2011
For additional information on the Mineral Reserves and Resources, please consult the NI 43-101 compliant technical report dated March 28, 2012, and entitled "Resources and Reserves on the San Andres Mine in the
Municipality of La Union in the Department of Copán, Honduras", which was prepared for Aura Minerals by Britt Reid P.Eng; Aura Minerals Inc., a copy of which may be found on SEDAR at www.sedar.com.
TSX: ORA 36

Management Team
Jim Bannantine, President and Chief Executive Officer
• Joined Aura Minerals in October 2011
• 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.
• 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 CEO from 2003
through 2005
• Worked with Enron Corporation for ten years, from 1990 to 2000, holding several top management positions, including six years in Brazil, most notably as CEO Enron South
America with assets of $3.5 billion and 4,500 employees
• 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
• MBA from the Wharton School with Distinction and is a West Point Distinguished Graduate. Licensed Professional Engineer and is board member of several private
companies, organizations and charities
Rory Taylor, Chief Financial Officer
• Joined Aura Minerals in March 2012
• Vice President, Finance, Mining Operations at Endeavour Mining Corporation
• Vice President, Finance at Crew Gold for 6 years. These companies owned and operated gold mines and various exploration properties in West Africa, Greenland and the
Philippines
• Held senior finance roles in companies in the telecommunications sector and in the assurance practices of Ernst and Young in Vancouver and South Africa.
• He holds a Bachelor of Commerce degree from the University of Cape Town and is a South African qualified Chartered Accountant
Neil Hepworth, Senior Vice President of Operations, Brazil
• Joined Aura Minerals in December 2010 with responsibility for the São Vicente and São Francisco mines
• During the last year he led the development of the new mine plans for these two mines, and he also provides technical and operations guidance to the Serrote Feasibility
Project
• Has extensive executive operations experience, previously in the role of Vice President of Operations for both European Goldfields and Crew Gold. Before those positions,
Mr. Hepworth has held progressively responsible technical and operational roles and is recognized for his geotechnical expertise in open pit and underground mine
operations throughout Africa and Europe
Agne Ahlenius, General Manager, Aranzazu Mine, Mexico
• Joined Aura Minerals in August 2012
• 25 years in international mining operations and development projects
• Prior to joining Aura Minerals, served as the Chief Operating Officer of Orvana Minerals Corp. as well as General Manager, Kinbauri España S.L. for their El Valle operation
in Asturias, Spain
Monty Reed, General Manager, San Andres Mine
• Joined Aura Minerals in August 2011
• Worked in progressively senior project and operations roles throughout the Americas, notably in regions with complex community relations issues and tropical climates
• Has worked with Silver Standard, Buffalo Gold, IAMGold, and Placer Dome on development and operation of open pit mines
TSX: ORA 37

Management Team
Bruce Butcher, P. Eng, Vice President, Technical Services
• Joined Aura Minerals in September 2010
• Over 25 years of mine engineering, operating and project experience from both North and South America
• Prior to joining Aura Minerals, served as Director, Mine Engineering for Teck Resources Ltd., responsible for the open pit and underground mine design for all
corporate projects and operational support
• Began his career working for Quintette Coal Ltd, and later at the Bullmoose mine for Teck as a Production Engineer. After that he moved to the Afton project as a Sr.
Mine Engineer and eventually joined Teck’s Vancouver office
• Involved with the Antamina project in Peru, where he was active in the start-up, commissioning and operation of the mine for 4 years. He returned from Peru to
Teck’s Head office where he was Manager, Mine Engineering, before becoming Director, Mine Engineering in 2008
• In addition to engineering and operational activities, he has served as a Technical Committee member for Hemlo’s underground operations, Antamina, and more
recently for the Galore Creek JV. He holds a Bachelor of Science (Hons) in Mining Engineering from Queens University, and a diploma in Mining Technology from BCIT
Dale Tweed, P. Eng., Vice President, Projects
• Joined Aura Minerals in July 2009
• Prior to joining Aura Minerals, served as a consultant on several large-scale copper and gold projects located in the Americas. Specifically, he was responsible for
identifying opportunities for project optimization and implementation of these recommendations. These projects included managing studies for mine expansions,
process and infrastructure; engineering and procurement for an open pit, heap-leach gold operation; and managing preliminary assessments, pit geotechnical design,
metallurgical testwork and project feasibility
• Held progressively senior project management roles at Placer Dome Inc., Fluor Corporation, Diavik Diamond Mines Inc. and AMEC Plc
• Holds a Bachelor of Science degree in Mechanical Engineering from the University of Alberta and a MBA degree in Project Management from Athabasca University
Gonzalo Rios, B.Sc., MBA, EP, Vice President, Corporate Responsibility
• Joined Aura Minerals in March 2010
• 18 years of mining environmental and safety experience
• Has worked at operations and projects in South and Central America, where his core skills lie in permitting, mine closure, water quality and safety management
• Involved in several successful mining operations in Chile, such as, Escondida, El Abra and Cerro Bayo Mines, and before joining Aura Minerals he held the position of
Director, Environmental Affairs at Pan American Silver Corp
• Led AMEC’s earth and environmental division and held the position of Safety, Health and Environment Manager for the Mining and Metals Division in Chile. In these
roles, Mr. Rios oversaw health, safety, environmental and community relations projects in Brazil, Peru, Bolivia, Panama and Chile
• Holds a Bachelor of Science degree in chemistry from the University of Toronto, a postgraduate diploma in environmental management from the University of
Santiago, Chile, a post-graduate diploma in environmental engineering from the University of Concepcion, Chile and a MBA from the University of Chile
TSX: ORA 38

Management Team
Keith Harris-Lowe, Vice President, Human Resources
• Joined Aura Minerals in June 2010
• Brings over 15 years of experience in the mining sector
• Prior to joining Aura Minerals, worked for Falconbridge Ltd. and then Xstrata Plc. following the merger of these two companies
• Worked at a number of metallurgical and mining sites, and then in divisional roles where, over this period, he was responsible for succession planning, leadership
development, organizational development, recruitment and selection, performance management, and labour relations
• Holds a Bachelor of Business Administration from Wilfrid Laurier University
Ryan Goodman, General Counsel & Corporate Secretary
• Appointed General Counsel & Corporate Secretary of Aura Minerals in June 2012
• Practiced law with two Canadian national law firms representing numerous mining companies in the Americas in connection with initial public offerings, private
placement funding, takeovers and mergers, the acquisition and disposition of mineral properties and public company maintenance and compliance including
corporate governance and public disclosure
• Graduate of the University of Manitoba
Alexandre Penha – Vice President, Corporate Development
• Joined Aura Minerals in November 2012
• Brings nine years of mining, corporate development, research and investment banking experience
• Currently holds the title of General Manager, Corporate Development at Rio Novo Gold (TSX: RN) and Vice-President, Corporate Development at Rio Verde Minerals
Development Corp. (TSX: RVD)
• Current Director of Search Minerals Inc. (TSX-V;SMY)
• Past roles have included Vice President, Research and Corporate Development at Tau Capital Corp. in Toronto; Gold Research Associate at both Merrill Lynch Canada
and Clarus Securities Inc.; and as an Investment Banker at Thomas Weisel Partners Canada
• Worked for over five years in Corporate Finance at Banif Investment Banking, and other capital markets institutions based in Brazil
• Member of the Board of Directors of the Brazil-Canada Chamber of Commerce, and he holds an MBA (York University, Schulich School of Business), a B.Sc. Economics,
(Rio de Janeiro State University) and a Post-Degree in Corporate Finance (Getulio Vargas Foundation, Rio de Janeiro)
TSX: ORA 39

Board of Directors
Patrick J. Mars, Chairman of the Board and Director
• Mr. Mars joined the Board in January 2006 and was appointed the non-executive Chairman of the Board in March 2008. 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
Tom Ogryzlo, Lead Director
• Mr. Ogryzlo joined the Board in November 2009 and was appointed the Lead Director of the Company in December 2011 and has over 45 years of experience in the
development, financing, design, construction and operation of global mining, industrial and energy projects, particularly in Latin America
• Mr. Ogryzlo has held executive management positions with a number of mining and engineering companies worldwide
• Recently retired from the positions of Senior Vice President of Latin American Operations for Ram Power Corp. and President and CEO of Ram’s subsidiary, Polaris
Geothermal Inc., a geothermal power producer founded by Mr. Ogryzlo in 2002
• Among his previous positions, he has held the roles of President and CEO of Black Hawk Mining, a gold producer, President of Kilborn SNC-Lavalin, a large engineering
contractor, and President of Cerro Matoso S.A., a large ferro nickel producer
• Over the years, Mr. Ogryzlo has served on the board of twenty TSX listed companies and is currently a director of Baja Mining Corp. and Vista Gold Corp., and is also
Interim CEO of Baja Mining Corp
Stephen Keith, Director
• Director since August 2011, Mr. Keith has worked on projects in more than 30 countries, with a concentration in Latin America
• He has over 15 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 CDN$2 billion in financings and merger and acquisition deals for natural resource projects
• Mr. Keith former President and Chief Executive Officer of Rio Verde Minerals Development Corp. (TSX:RVD)
• In addition to his work with Rio Verde, he is on the Board of Directors of Search Minerals Inc. 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)
TSX: ORA 40

Board of Directors
Elizabeth A. Martin, Director
• Director of the Company since March 2008
• Ms. Martin is a corporate director and professional accountant with a strong background in international exploration and mining projects
• She has held senior financial management and executive roles in base metal and precious metal companies such as Northgate Mines Inc., Western Mining
Corporation, IAMGOLD Corporation and High River Gold Mines Ltd
• Ms. Martin, who is a certified member of the Institute of Corporate Directors, is currently on the board of Marengo Mining Limited and is also on the board of
directors of Sunnybrook Health Sciences Centre as well as the Healthcare Insurance Reciprocal of Canada, the latter two organizations being based in Toronto
• In addition to serving as a financial consultant in the mining sector (2001 to 2006), she was on the board of Goldbelt Resources Ltd. (2005 to 2008), and was the chair
of the board of St. John’s Rehabilitation Hospital in Toronto (2005 to 2008)
William Murray, Director
• Director of the Company since July 2007
• Mr. Murray is a Professional Engineer with 40 years of international mining experience in operations, engineering and construction
• During the period of March 2003 and February 2008, Mr. Murray was President and CEO of PolyMet Mining Corp. where he was instrumental in developing and
advancing the large-scale poly-metallic NorthMet project located in the Minnesota Iron Range
• In the mid-1980s, he participated as an investor/developer in a number of private projects such as the Craigmont Mines magnetite operation (Canada) and the Boleo
copper/cobalt project (Mexico)
• Mr. Murray previously worked in senior management positions at Anglo American Corporation, Fluor Daniel and Denison Mines, where he was part of the core team
that built the $1.2 billion Quintette Coal project. He is currently a director of Polymet Mining Corp., South American Silver Corp. and Prospero Silver Corp
Ian Stalker, Director
• Director of the Company since January 2012
• Mr. Stalker has over thirty years of experience developing and operating mines in Europe, Africa and Australia
• He has worked his way up from operational roles in base and precious metals mines to executive positions in some of the largest mining companies in the world
• Mr. Stalker is currently the CEO of Brazilian Gold Corporation
• In 2010, he was the CEO of Berkeley Resources Ltd. From 2005 to 2007, he was CEO of UraMin Inc. until its acquisition by Areva in August 2007 for US$2.5 billion
• Prior to joining UraMin, Mr. Stalker was a Vice President of Gold Fields Limited from 2005 to 2007, the fourth largest gold producer in the world at the time. Mr.
Stalker has held the position of director for many public companies, including Forum Uranium Corp., Polo Resources Limited and Elemental Minerals Limited
TSX: ORA 41

Thank You
Aura Minerals Inc. (TSX: ORA)
155 University Avenue, Suite 1240
Toronto, ON, Canada
Tel: +1-416-649-1033
Email:
info@auraminerals.com
Web:
www.auraminerals.com