ROAD TOWN, British Virgin Islands, May 06, 2024 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX:ORA) (B3: AURA33) (OTCQX:ORAAF) ("Aura" or the "Company") announces that it has filed its unaudited consolidated financial statements and management discussion and analysis (together, "Financial and Operational Results") for the period ended March 31, 2024 ("Q1 2024"). The full version of the Financial and Operational Results can be viewed on the Company's website at www.auraminerals.com or on SEDAR+ at www.sedarplus.ca. All amounts are in thousands of U.S. dollars unless stated otherwise. Rodrigo Barbosa, President, and CEO of Aura, commented, "We finished the quarter with strong results, with production up 28% and EBITDA up 45% vs. Q1 2023, and Recurring Free Cash Flow of $19 million. This was achieved despite an average gold price increase of only 9.6% in Q1 2024, reaching $2,070/oz (now at around $2,300/oz), and a decrease of copper prices of 6%, averaging at $3.86/lb in Q1 2024 (now at around $4.40/lb). Furthermore, the first quarter witnessed another decrease in our AISC to US$ 1,287 /GEO, reflecting our ongoing efforts towards efficiency and cost reduction. Additionally, we reported the progress of the Borborema construction, which is now at 25%. Considering current gold prices at $2,300/oz, this project would be expected to generate a US$ 439 million NPV and a leveraged IRR of 74% p.a., considering all other Feasibility Study assumptions unchanged". Q1 2024 Financial and Operational Highlights: (US$ thousand):     For the threemonths endedMarch 31, 2024     For the threemonths endedMarch 31, 2023   Total Production¹ (GEO)   68,187     54,368   Sales² (GEO)   69,086     53,886   Net Revenue   132,078     96,987   Adjusted EBITDA   53,208     36,605   AISC per GEO sold   1,287     1,156   Ending Cash balance   214,066     103,400   Net Debt   105,361     86,382   (1) Considers capitalized production (2) Does not consider capitalized production   During Q1 2024, Aura maintained zero lost time incidents ("LTIs") across all its operating business units and projects, a continuation of the safety milestone achieved in 2023. In Q1 2024, production reached 68,187 GEO, a notable increase of 28% in comparison to Q1 2023 at current prices. The increase was a result of improved operating performance at Minosa (San Andrés) and Almas, partially offset by slight decreases in Aranzazu and Apoena (EPP). When compared to Q4 2023, production showed relative stability. Aranzazu: Production reached 25,001 GEO, 5% lower compared to Q4 2023 and 5% above Q1 2023 at constant metal prices, due to mine sequencing and in line with the Company's expectations, demonstrating stability and consistent performance quarter over quarter. Apoena (EPP): Production of 12,105 GEO was 20% lower in Q1 2024 compared to the previous quarter and 5% below Q1 2023 due to lower grade feed and mine sequencing. Production was in line with the Company's expectations, considering mine sequencing, as remaining tonnes from Ernesto were processed. Minosa (San Andres): Production of 19,186 GEO for the quarter, represented a 7% increase compared to the previous quarter and 36% increase over Q1 2023, mostly due to an increase in the volume of stacked ore and higher recovery rates. This marks the fifth consecutive quarterly increase in production due to operational efficiencies including the implementation of the stacking system in Q3 2023. Almas: Production reached 11,895 GEO, marking a 24% increase compared to the previous quarter. This notable improvement is attributed to a series of initiatives aimed at recovering productivity and overcoming challenges faced during the third and fourth quarters of 2023. Sales volumes were 1% higher than Q4 2023, mainly driven by higher production in Minosa and Almas. Compared to the same period of 2023, sales volumes increased by 28%, mainly due to the commencement of commercial production in Almas in 2023 and increase in sales volumes in Minosa, partially offset by lower sales volumes in Apoena and Aranzazu. Revenues reached $132,078 in Q1 2024, representing an increase of 6% compared to Q4 2023 and 36% compared to the same period in 2023.  Average gold sale prices increased 4% compared to Q4 2023, with an average of $2,070/oz in the quarter. Compared to the same period in 2023, average gold sale prices increased 10% in Q1. Average copper sale prices increased 4% when compared to Q4 2023, with an average of $3.86/lb in the quarter. Compared to the same period in 2023, average copper prices decreased by 6% in Q1. Adjusted EBITDA reached $53,208 in Q1 2024, an improvement of 30% compared to $40,893 in Q4 2023, as a result of: (a) higher production and sales volume from Minosa and Almas; (b) increase in gold prices during the quarter and; (c) lower consolidated cash costs, which decreased by $81/GEO when compared to Q4 2023. This is the result of Aura's sustained commitment to enhancing efficiency and reducing expenses throughout its operations. Compared to Q1 2023, Adjusted EBITDA showed an improvement of 45%, also mainly due to higher gold prices, lower costs and higher sales volumes. AISC during Q1 2024 reached $1,287/GEO, representing a decrease of $24/GEO when compared to Q4 2023 ($1,311/GEO) mainly due cost effectiveness in all business units. It was the second consecutive quarter in which Aura's consolidated AISC decreased.By the end of Q1 2024, the Company's Net Debt¹ position was $105,361, an increase compared to $85,165 reported in the previous quarter, mainly due to $29,262 in Capital Expenditures, most of it related to the Borborema project construction, and $18,718 temporary increase in working capital and according to Aura's expectations. Guidance: The Company is on track to meet its guidance for the current fiscal year, including production, cash cost, All-In Sustaining Cost (AISC), and capital expenditures, as demonstrated by the results of the first quarter. Gold equivalent thousand ounces ('000 GEO) production – 2024     Low – 2024 High – 2024 Q1 2024 A % Minosa (San Andrés) 60 75 19 26% - 32% Apoena (EPP) 46 56 12 22% - 37% Aranzazu 94 108 25 23% - 27% Almas 45 53 12 23% - 27% Total 244 292 68 23% - 28% Cash Cost per equivalent ounce of gold produced – 2024     Low – 2024 High – 2024 Q1 2024 A % Minosa (San Andrés) 1120 1288 1187 92% - 106% Apoena (EPP) 1182 1300 740 57% - 63% Aranzazu 826 1009 926 92% - 112%