Exhibit 96.1

	S-K 1300 Technical Report Summary and Feasibility Study   Era Dorada Gold Project   Jutiapa, Guatemala   Effective Date:  December 31, 2025 Report Date:  December 31, 2025   Prepared for:   Aura Minerals Inc. 78 SW 7th Street Miami, FL 33130, USA   Prepared by:   Ausenco do Brasil Engenharia Ltda. Av. Nossa Sra. Do Carmo, 931 Sion, Belo Horizonte, MG, 30310-00   List of Technical Consultants:   Ausenco, do Brasil Engenharia Ltda. Kirkham Geosystems Ltd.  Snowden Optiro

Date and Signature Page

This technical report summary (the TRS), entitled “Era Dorada Project, S-K 1300 Technical Report Summary and Definitive Feasibility Study, Jutiapa, Guatemala” is current as of December 31, 2025 and has been prepared by:

Table of Contents

List of Tables

List of Figures

In January 2025, Aura Minerals Inc (“Aura” or “the Company”) completed the acquisition of the of the Era Dorada Gold Project - formerly “Cerro Blanco Gold Project” - and Mita Geothermal Project, located in Jutiapa, Guatemala, near the town of Asunción Mita and the border with El Salvador. The Era Dorada Project (“Era Dorada” or “the Project”) is 100% beneficially owned by Aura. Aura is a public, NASDAQ-listed company trading under the symbol “AUGO”, with its head office located at 78 SW 7th St., Miami, FL 33130, USA.

Aura commissioned Ausenco do Brasil Engenharia Ltda. (Ausenco) to prepare a Feasibility Study (FS) and associated Technical Report Summary (TRS) on the Project.

This TRS, titled “Era Dorada Project, S-K 1300 Technical Report Summary and Definitive Feasibility Study, Jutiapa, Guatemala,” has been prepared in compliance with United States Securities and Exchange Commission’s (SEC) Modernized Property Disclosure Requirements for Mining Registrants as described in Subpart 229.1300 of Regulation S-K, Disclosure by Registrants Engaged in Mining Operations (S-K 1300) and Item 601 (b)(96) Technical Report Summary.

The responsibilities of the engineering consultants are as follows:

The report supports disclosures by Aura in the press release named “Aura Minerals Completes Feasibility Study for the Era Dorada Project” published in December 8, 2025.

The TRS does not consider the Mita Geothermal Project, which is a separate project and subject to a separate technical report summary.

All units of measurement in this report are metric and currencies are expressed in United States dollars (symbol: US$ or currency: USD) unless otherwise stated.

Mineral Resources and Mineral Reserves are prepared in accordance with the standards and definitions of the
S-K 1300.

The Project is located in southeast Guatemala, in the Department of Jutiapa, approximately 160 km by road from the capital, Guatemala City, and approximately 9 km west of the border with El Salvador. The nearest town to the Project is Asunción Mita, a community of about 18,500 people situated approximately 7 km west of the Project. The exploitation license covers 15.25 km² and lies entirely in the municipality of Asunción Mita.

The approximate center of the Project area is located at UTM coordinates X: 212,250 m E, Y: 1,587,250 m N, referenced to NAD27, Zone 16N. These coordinates correspond to the central portion of the mineral concession and are used for spatial reference in this report.

Current road access to the site is via the Pan-American Highway (Highway CA1) through the town of Asunción Mita. Existing infrastructure is in place to provide year-round access to the site. The topography is relatively flat, with rolling hills.

The climate and vegetation at the Project site are typical of a tropical dry forest environment. The elevation is between 450 and 560 masl. The wet season is typically from May to October. The average annual rainfall is 1,350 mm. Daily temperature highs reach 41°C, and lows reach 10°C. The average annual pan evaporation rate is 2,530 mm, with an annual average humidity of 62%.

The recently constructed La Barranca power substation is located a few kilometers south of Mita. The substation can supply up to 20 MW of power.

There is no record of any previous mining activity in the area; however, with the closure of Goldcorp’s Marlin Mine in late 2017, it is anticipated that a significant contingent of Guatemalan-trained labor will be available for employment at Era Dorada. As such, the Project intends to hire the majority of operations staff locally.

There is one Mineral Claim for all the project recorded in Decree DIC-CM-158-05.

A portion of the mine workforce is expected to live at the mine site in a purpose-built permanent camp, while employees living in the surrounding communities Aura will provide the transportation to and from the mine site. For employees residing in the wider Jutiapa region and areas beyond Asuncion Mita, the Company will provide transportation to and from the mine site from designated locations. There are several population centers near the Project site.

The Era Dorada property (formerly “Cerro Blanco”) was identified by Mar-West by a sampling of densely silicified boulders. In October 1998, Mar-West’s holdings in Honduras and Guatemala were purchased by Glamis Gold Ltd. In November 2006, Goldcorp Inc. became the sole proprietor of the Project through the purchase of Glamis Gold. Goldcorp undertook a comprehensive exploration program from 2006 to 2012, which included additional surface exploration, over 3.4 km of underground development, and 43,016 m of surface and underground drilling. On January 4, 2017, Bluestone agreed with Goldcorp to acquire 100% of the Project. On October 29, 2024, Aura purchased Bluestone Resources thereby acquiring 100% of the property. As of the end of 2021, Bluestone had drilled approximately 267 holes for a total of 45,725 m on the Cerro Blanco property since the acquisition from Goldcorp.

Table 1-1 summarizes the historical drilling on the property.

Table 1-1: Drilling Summary

Source: Bluestone, 2021.

The Project is a classic hot springs-related, low-sulfidation epithermal gold-silver deposit comprising both high-grade vein and low-grade disseminated mineralization. The Cerro Blanco district is part of an active volcanic arc characterized by Miocene-Pliocene-aged bimodal volcanism that extends through El Salvador, Honduras, and Nicaragua.

High-grade mineralization is hosted in the Mita unit as two upward-flaring vein swarms comprising over 60 veins (North and South Zones) that converge downwards and merge into basal feeder veins. Low-grade disseminated and veinlet mineralization within and as halos around the high-grade veins is well documented in drilling since the discovery of the deposit. Most of the veins are blind to the surface and concealed by the syn-mineral Salinas Unit, a sub-horizontal sequence of volcanogenic sediments and sinter horizons approximately 100 m thick that form the low-lying hill at the Project. The Salinas cap rocks are host to low-grade mineralization associated with silicified conglomerates and contemporaneous dacite/rhyolite flow domes or cryptodomes.

Both high and low-angle banded crustiform/colloform chalcedony veins, locally with calcite replacement textures, make up the deposit, with bonanza-grade gold grades largely confined to the chalcedony-quartz veins, especially where adularia bands are prominent. High-grade mineralization occurs over a vertical profile of 400 m (150 to 450 masl). At depth, calcite-dominated veins form the limit to mineralization; nonetheless, very locally, high gold values are present in calcite-dominated veins and silicified structures containing only minor quartz veinlets.

The Salinas Group includes thin hot spring deposits, including sinters, which are genetically linked to underlying swarms of epithermal, gold-silver bearing quartz veins. The west and east sides of the Era Dorada ridge consist of flat agricultural plains characterized by Quaternary basalts, interbedded with boulder beds and sands. These rocks also appear down-faulted to lower elevations, implying major post-mineral extensional movements on such faults.

The current gold resource occurs under a small hill within an area of 400 m by 920 m. Gold-bearing structures in the Era Dorada area extend 2 km to the northwest of the gold deposit and occur largely confined within the hydrothermal alteration zone. The extensive drilling undertaken to date of the high-grade vein swarms and their surrounding low-grade mineralized envelopes and overlying mineralized cap rocks show impressive intercepts, including 203.8 m grading 2.3 g/t Au and 8.1 g/t Ag (CB20-420) and 87.2 m grading 5.9 g/t Au and 32.5 g/t Ag (UGCB18-89).

Vein textures suggest that gold and silver were introduced as one major event of multi-stage finely banded veining (originally amorphous silica) with subordinate bands of platy calcite, which is mostly pseudomorphed to cryptocrystalline silica phases. Repetitive “crack and seal” pulses and associated boiling/flashing events very close to the paleosurface are proposed as the main mechanisms for precious metal deposition. Very high-grade core intersections with coarser and more abundant sulfides, electrum, and free gold appear to represent an earlier series of events. Deportment studies indicate that approximately 99% of the gold occurs in electrum as free or exposed grains, with lesser amounts as native gold and kustelite. The lack of post-mineral structural displacement of veins and distribution of high grades over a +400 m vertical profile attest to the pristine nature of the veins at Era Dorada. The lack of inter-stage hydrothermal brecciation and coarse-grained primary quartz textures suggest that the mineralizing event was fairly short-lived and occurred very close to the paleosurface.

To date, Aura has not completed any exploration activities on the Era Dorada property.

The drill core from the surface and underground was stored in labeled wooden boxes at the drill site and transported to the surface core logging facility. Before core splitting and logging commence, the drill core was systematically photographed in high resolution using a tripod-mounted camera and digitally archived for reference as part of the drill database.

Logging and sampling were undertaken on-site at Era Dorada by company personnel under a QA/QC protocol developed by Bluestone. Technicians first prepared the core boxes by reviewing drill hole depth tags, reassembling broken sections, and photographing the core. Core logging to identify lithology, alteration, RQD, and sampling selection for core sawing was completed by technicians under the direction of the geologist. The typical sample lengths are 1.0 to 1.5 m with a minimum sample width of 1 m and maximum lengths of 2.0 m; sample lengths were based on the lithology and alteration. Samples are collected along the footwall, mineralized zones, and hanging walls without breaks in sampling. All data was initially captured on paper logs and later transferred to Microsoft Excel and susequently to an AcQuire/GMSuite platform. The data was then entered into MapInfo™ and MineSight™ software for geological modeling.

Specific gravity readings of all representative lithologies and vein material were taken during the various drill campaigns using the displaced water method. Samples were sealed with paraffin wax to account for natural voids/vugs.

A total of 591 channel samples were taken along representative veins exposed in the side walls of the Era Dorada underground tunnels using a portable rock saw. The sampling was undertaken across and perpendicular to the mineralized structures wherever possible and carefully surveyed with XYZ coordinates for use in 3D modeling. The samples were subject to the same QA/QC protocols as the drill core and were deemed suitable for use in calculating resources.

Samples were transported in security-sealed bags to Inspectorate Laboratories in Guatemala City for sample preparation until March 2020 and thereafter to Inspectorate Laboratories in Managua due to the closure of the Guatemalan facility.  All half-core and coarse rejects are stored adjacent to the core logging facility on the Project site. The Era Dorada site is fully controlled by perimeter fencing and security.

Pulps are shipped for regular and QA/QC analysis to Inspectorate Laboratories (a division of Bureau Veritas) in Reno, Nevada, USA, and ALS Chemex in Vancouver, BC, Canada, respectively. Both are ISO 17025-accredited laboratories. th atomic absorption with gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag.

Garth Kirkham, P. Geo., has been involved with the property since in early 2017, when he performed the initial due diligence and authored the updated resource estimate for Bluestone. Mr. Kirkham first visited the property on May 8, 2017, to validate all aspects of the Project. The site visit included an inspection of the property, offices, underground vein exposures, core storage facilities, water treatment plant, and stockpiles, and a tour of major centers and the surrounding villages most likely to be affected by any potential mining operation.

Since 2017, Mr. Kirkham has visited the property numerous times for extended periods to develop and implement data-gathering and sampling methods and procedures. He also worked with Bluestone geologists to develop drill programs and supervise interpretation and modeling efforts, in addition to creating and implementing QA/QC procedures. Continued data validation and verification processes have not identified any material issues with the Era Dorada sample and assay data.

It is the opinion of the QP, Garth Kirkham, P. Geo., that the sampling preparation, security, analytical procedures, and quality control protocols used at Era Dorada are consistent with generally accepted industry best practices and are, therefore, reliable for resource estimation.

Metallurgical testwork was conducted on samples from the Era Dorada deposit between April 1999 and January 2012 by Kappes, Cassiday & Associates (KCA) in Reno, NV. The most recent test program, completed in 2018 in support of this FS, was carried out at Base Metallurgical Laboratories Ltd. (BaseMet) in Kamloops, B.C.

The focus of the recent test program was to optimize the flowsheet and generate tailings for geochemistry, geotechnical and paste backfill testing. A global composite from drill core was created to run the optimization test program. The testwork included grind extraction optimization, gravity, leach optimization, tailings generation and cyanide destruction. Bulk samples from the underground workings were collected and two composites were created to represent the North and South areas of the deposit. The final flowsheet and test parameters determined in the optimization phase were used to generate tailings samples from the North and South zones for physical and chemical characterization to be used in defining DSTF and backfill applications.

Based on the results from BaseMet (2018), gold and silver doré can be produced at a primary grind size of 80% passing (P₈₀) 53 µm followed by gravity concentration, 2-hour pre-oxidation, a 36-hour cyanide leach at a sodium cyanide concentration of 500 mg/L, 6-hour carbon-in-pulp (CIP) adsorption, carbon desorption, electrowinning and refining. For the global composite, this recovery method achieved average precious metal recoveries of 96% Au and 85% Ag.

Era Dorada is a classic hot springs-related, low-sulfidation epithermal gold-silver deposit comprising both high-grade vein and low-grade disseminated mineralization. Most of the high-grade mineralization is hosted in the Mita unit as two upward-flaring vein swarms (north and south zones) that converge downwards and merge into basal feeder veins where drilling has demonstrated widths of high-grade mineralization (e.g., 15.5 m @ 21.4 g/t Au and 52 g/t Ag). Gold grades are associated with ginguru banding and carbonate replacement textures. Sulfide contents are low, typically < 3% by volume. Low-grade disseminated and veinlet mineralization in wall rocks around the high-grade veins is well documented in drilling since the discovery of the deposit, with grades typically ranging from 0.3 to 3.0 g/t Au.

The Salinas unit overlies the Mita rocks, a sub-horizontal sequence of volcanogenic sediments and sinter horizons approximately 100 meters thick, which form the low-lying hill at the Project. Low-grade disseminated, and veinlet mineralization within and as halos around the high-grade vein swarms is well documented in drilling since the discovery

of the deposit, with grades typically ranging from 0.3 to 1.5 g/t Au. The overlying Salinas cap rocks are also host to low-grade mineralization associated with silicified conglomerates and rhyolite intrusion breccias.

Mineral exploration activities conducted at Era Dorada have been performed in accordance with S-K 1300.

The mineral resource estimate reported herein was prepared by Mr. Garth Kirkham, P. Geo. The mineral resources have been estimated in conformity with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices.” There are 130,307 gold assays, totaling 153,078 m, which average 0.68 g/t, and 130,238 silver assays, totaling 153,003 m, which average 3.75 g/t. Bulk densities were assigned to individual rock types and assigned on a block-by-block basis using measurement data by lithology and mineralized veins.

The estimate was completed using MineSight^TM software with a 3D block model (5 m x 5 m x 5 m). Interpolation parameters have been derived based on geostatistical analyses conducted on 1.5-meter composited Drill holes. Block grades have been estimated using ordinary kriging (OK) methodology, and the mineral resources have been classified based on proximity to sample data and the continuity of mineralization in accordance with S-K 1300 requirements.

Table 1-2: Resource Estimate using 2.25 g/t Au Cut-off Inclusive of Reserves

Table 1-3: Resource Estimate using 2.25 g/t Au Cut-off Exclusive of Reserves

Notes: The mineral resource statement is subject to the following:

Source: Kirkham, 2025.

In addition, there has been mixed grade material mined during the creation of the extensive, existing ramp network which has been stockpiled adjacent to North Ramp entrance. Table 1-4 shows the volume and tonnage based on an unconsolidated specific gravity of 2.0 gm/cm³ along with gold and silver grades and metal content. These resources are classified as measured.

Table 1-4: Stockpile Resource Estimate (Measured Resource)

Source: Kirkham, 2019.

The primary factors that could materially affect the Mineral Resource estimate include:

The Mineral Reserve estimate was completed using industry-standard methodologies and software, and the resulting Mineral Reserves are reported in accordance with S-K 1300 requirements.

The Mineral Reserve estimate was subject to Legal and Permitting constraints and other modifying factors such as the plant and infrastructure timing and capacities, the metallurgical recoveries for gold and silver, economic factors as gold and silver prices, costs and exchange rates as well as technical modifying factors derived from geotechnical constraints, mining methods and productivity.

The mine plan derived from the Mineral Reserve supports an economically viable underground operation, subject to the stated assumptions, modifying factors, and risk controls in the opinion of the QP.

The mining engineering studies for the Feasibility Sudy and Mineral Reserve definition were completed using industry-standard methodologies and software, and the resulting Mineral Reserve is reported in accordance with S-K 1300 requirements. The mine plan supports an economically viable underground operation, subject to the stated assumptions, modifying factors, and risk controls.

A method-specific gold-equivalent cut-off grade was applied in stope optimization and Reserve conversion. Key assumptions are shown in Table 1-5.

Table 1-5: Mineral Reserve Cut-off Grade

Gold and silver prices assumptions were defined in the beginning of the Feasibilty Study in line with Aura guidance and were deemed adequate at the time they were established by the QP.

Assumptions for gold and silver recoveries and mining costs are based on previous studies for the deposit and are assessed as adequate, within industry standards, by the QP.

The Mineral Reserve was estimated from the final stopes and sublevel designs produced from Measured and Indicated Mineral Resources which demonstrate economic viability, incorporating relevant dilution allowances and mining recovery factors.

Any Inferred Mineral Resources enclosed in feasible Indicated Mineral Resources envelopes either inside the stope shapes, dilution material or forced mine development was treated as waste, i.e., such material carried its excavation costs and no revenue was accounted for.

The Mineral Reserve estimate is summarized in Table 1-6.

Table 1-6: Mineral Reserves

Mineral Reserve Notes:

Figure 1-1: Gold Production and Grades

Source: Snowden, 2025.

The primary factors that could materially affect the Mineral Reserve estimate include:

Several factors may provide upside to the Mineral Reserve inventory and LoM performance:

Resource confidence upgrade: Some dilution within stopes is currently classified as Inferred Resources and treated as zero grade. Conversion to Indicated through infill drilling is expected to increase average stope grades and contained metal, potentially supporting future Proven Reserve conversion.

Stockpile strategy flexibility: Expanding early ore stockpiling (including selective higher grades) could improve start-up flexibility and enable more productive early development. A temporary stockpile combined with the existing stockpile (29,726 t at 5.35 g/t Au and 22.59 g/t Ag) over the first three years could deliver this benefit, provided grade segregation is maintained.

Open pit potential: Near-surface Resources not included in the underground plan could potentially be converted to Mineral Reserves if a future open pit evaluation demonstrates technical and economic viability under S-K 1300 criteria. This could expand the Reserve base and be integrated into the LoM plan.

The Era Dorada deposit is planned to be mined using underground methods, with production derived from a combination of sublevel Long hole stoping (LH) as the dominant method, mechanized cut-and-fill (MCF) in geotechnically or geometrically constrained areas, and minor room-and-pillar. Long hole stoping is expected to contribute approximately 98.5% of total metal production, with MCF contributing approximately 1.2% and room-and-pillar approximately 0.1%. The selection of mining methods reflects orebody geometry, vein continuity and dip, and geotechnical domain constraints, with LH preferred for productivity, safety and cost effectiveness where conditions allow.

The deposit will be accessed via two existing main declines servicing the South and North zones, supplemented by additional ramps developed at up to 15% gradient. Sublevels are spaced 20 m vertically. A panel geometry is adopted, consisting of four sublevels with 20 m plus a sill pillar with 20 m for total panel height as of 100 m, with the sill pillars recovered late in the LoM. The schedule respects operational constraints including maximum annual development advance of approximately 8,500 m, plant throughput limits, paste/CRF placement and curing cycles, and dewatering requirements below the 420 level water table.

The life-of-mine plan targets a production rate of 1,600 tonnes per day (t/d) with accelerated mine development in the first two years meant to expose high grade Mineral Resources. The planned Life of Mine (LoM) extends for 18 years, with higher metal output scheduled in the early years through prioritized access to higher-grade areas.

Empirical stability assessments indicate that long hole stoping is feasible for the majority of the mine under the geometries evaluated. As for the upper, altered and more fractured rock masses closer to surface (Geotechnical Domain 1) Long hole mining remains feasible provided systematic support is installed where the orebody dips are less than 60° and, when the ore lenses dip less than 60 degrees, cut-and-fill mining is recommended.

Two-dimensional finite-element stress–strain analyses were completed for representative mine sections to guide mine design and detailed mining sequence for excavation and backfilling either with pastefill or CRF.

Crown pillar stability was assessed and a minimum thickness of 10 m is recommended.

Stability assessments of inter-stope pillars indicate acceptable factors of safety when timely backfilling is applied.

Development support recommendations were derived from the Q-system. All development headings should employ systematic galvanized Swellex type bolts, supplemented by 5-cm shotcrete as the baseline surface support. Welded mesh may be used in selected locations, and intersections may require cable bolts for larger spans.

The groundwater system comprises five main hydrostratigraphic units, with flow strongly controlled by geological structures. Shallow alluvium is highly permeable and largely discharges to the Rio Ostua, while deeper fault zones act as preferential conduits for geothermal upflow. Groundwater temperatures can locally approach 190°C, which becomes a primary constraint for pump selection, materials, and overall water-handling design.

The groundwater model was updated in FEFLOW over an approximate 174 km² domain with 25 layers, building on prior work. A steady-state calibration to 45 observation points achieved an NRMSE around 6.1%. Transient simulations for 2008–2024 reproduce observed hydrographs and confirm the Rio Ostua as a gaining stream.

Predicted dewatering rates ramp from about 1,220 gpm in 2026 to about 6,080 gpm by 2029. Full build-out reaches roughly 10 wells by January 2031, sustaining approximately 6,080 gpm, with contingency capacity up to about 7,600 gpm to manage operational variability.

The currently permitted discharge capacity of about 5,250 gpm is below projected dewatering needs. The strategy includes two reinjection wells, approximately 1,000 gpm each, to manage peak flows, reduce reliance on surface discharge limits, and preserve operational flexibility beyond 2031.

By 2043, model results indicate annual flow reductions of approximately 12% in the Rio Ostua (about 1,564 to 1,376 L/s) and approximately 46% in the Río Tacunshapa (about 6.5 to 3.5 L/s). Treated mine effluent is expected to exceed baseflow depletion under the evaluated conditions, supporting downstream compliance.

The high-temperature regime introduces a steam-flashing risk and increases mechanical and materials demands on dewatering infrastructure. The design basis assumes ESPs with appropriate pressure and backpressure control, plus materials and components suitable for geothermal conditions.

To reduce uncertainty and strengthen the design basis, priority actions include targeted field testing and an updated structural interpretation, integration of coupled thermal–hydraulic evaluation where appropriate, optimization of well spacing and activation sequencing, expansion and diversification of disposal permitting (including reinjection), and strengthening of surface-water and groundwater monitoring tied to clear trigger actions and contingency planning. A staged underground-based dewatering approach should also be evaluated as a flexible complement to surface wells.

Hydrogeologic setting: The groundwater system comprises five main hydrostratigraphic units with flow strongly controlled by structures. Shallow alluvium is highly permeable and largely discharges to the Rio Ostua, while deeper fault zones act as preferential conduits for geothermal upflow. Groundwater temperatures can locally approach 190°C, which is a key constraint for pump selection, materials, and overall water-handling design.

Modeling basis: The groundwater model was updated in FEFLOW over an approximate 174 km² domain with 25 layers, building on prior work. A steady-state calibration to 45 observation points achieved NRMSE around 6.1%. Transient simulations for 2008–2024 reproduce observed hydrographs and confirm the Rio Ostua as a gaining stream.

Dewatering requirements: Predicted dewatering rates ramp from about 1,220 gpm (2026) to about 6,080 gpm (2029). Full build-out reaches roughly 10 wells by January 2031, sustaining approximately 6,080 gpm, with contingency capacity up to about 7,600 gpm to manage operational variability.

Discharge capacity and reinjection: The currently permitted discharge capacity of about 5,250 gpm is below projected dewatering needs. The strategy includes two reinjection wells (about 1,000 gpm each) to manage peak flows, reduce reliance on surface discharge limits, and preserve operational flexibility beyond 2031.

Hydrologic impacts: By 2043, model results indicate annual flow reductions of approximately 12% in the Rio Ostua (about 1,564 to 1,376 L/s) and approximately 46% in the Rio Tacunshapa (about 6.5 to 3.5 L/s). Treated mine effluent is expected to exceed baseflow depletion under the evaluated conditions, supporting downstream compliance.

Key risks and controls: The high-temperature regime introduces a steam-flashing risk and increases mechanical and materials demands on dewatering infrastructure. The design basis assumes ESPs with appropriate pressure and backpressure control, plus materials and components suitable for geothermal conditions.

Recommended next steps: Reduce uncertainty through targeted testing and an updated structural interpretation, integrate coupled thermal–hydraulic evaluation where needed, optimize well spacing and activation sequencing, expand and diversify disposal permitting (including reinjection), strengthen surface-water and groundwater monitoring with clear trigger actions, and evaluate staged underground-based dewatering as a flexible complement to surface wells.

The ventilation, cooling and underground pumping systems for the Era Dorada underground mine have been designed to support safe, efficient, and sustainable operations throughout the life of mine as required by the Project site high ambient temperatures, geothermal conditions, diesel equipment fleet, and planned production schedule. In the absence of Guatemalan-specific mine ventilation regulations, the design adopts criteria and standards commonly applied in the United States and Brazil, consistent with internationally accepted mining industry practices.

Ventilation airflow requirements were calculated based on the diesel equipment fleet, the number of active and inactive levels, and additional demands from fixed installations such as pumping stations. Total mine airflow requirements are forecast to peak at approximately 392 m³/s in 2031, corresponding to the period of maximum development and production activity. The main ventilation system is configured as a push–pull arrangement, with all primary fans installed on surface. The system incorporates both northern and southern ventilation circuits utilizing

existing and new raises. The design for the main fans includes both axial intake fans and centrifugal exhaust fans, with centrifugal units selected for exhaust duties due to high system resistance, elevated humidity, and corrosive air conditions. Fan installations provide sufficient capacity and redundancy to meet peak airflow demands without constraining production.

Local ventilation within development and production levels will be provided by auxiliary fans supplied with cooled intake air. Two fan configurations are specified: 75 HP units delivering approximately 20 m³/s for production, exploration, and preparation headings, and 125 HP units delivering approximately 30 m³/s for main development headings. Due to high underground temperatures, return air is exhausted directly to surface and is not reused at other levels.

Given the Project’s geographic location and geothermal gradient (approximately 0.1 °C/m), underground heat loads represent a major design consideration. Total heat load at peak production is estimated at approximately 21 MWR, with heat transfer from surrounding rock mass and geothermal water accounting for roughly 55% of the total. The mine cooling system is designed to maintain underground working conditions below 28 °C wet-bulb temperature, consistent with industry standards for worker’s safety and productivity.

The cooling strategy consists of three surface-based cooling plants installed at intake raises between 2026 and 2030. These plants provide a combined cooling capacity of approximately 15 MWR, supplying cooled intake air to the main ventilation circuits.

The underground pumping system is designed to manage water used by mine equipment, groundwater infiltration not captured by surface dewatering wells, and rainwater infiltration. Pumping requirements were based on year-by-year groundwater inflow projections provided by Stantec and the mine equipment water balance. Total underground water inflows, including a 25% contingency, are projected to peak at approximately 44.6 L/s in 2040. The Southern Zone pumping system with 50 L/s capacity and 285 kW includes three pumping stations, while the Northern Zone system with 7 L/s capacity and 38 kW has two main pumping stations, both conveying water to the site water treatment plant.

The ventilation, cooling, and underground pumping systems are considered technically sound and appropriately designed at a Feasibility Study level by the QP. Capital and operating costs have been estimated with FS accuracy and integrated into the mine plan and economic analysis. With the implementation of the proposed systems, ventilation, thermal conditions, and underground water management will not constrain mine safety, production rates, or economic performance over the life of mine.

Aura has developed a process flowsheet for their Era Dorada project to process run-of-mine (ROM) ore to produce gold (Au) and silver (Ag) doré. The metallurgical test programs summarized in Section 10, have demonstrated that gravity concentration followed by cyanide leach, carbon adsorption/desorption and electrowinning can yield an average overall recovery of 96% Au and 85% Ag. Results from this test program were used to develop the corresponding process design criteria, mechanical equipment list, flowsheets and operating costs.

The primary crushing plant will have a throughput capacity of 1,600 t/d with average life of mine (LOM) head grades of 6.0 g/t Au and 28.2 g/t Ag. The crushing circuit will operate at an availability of 75%, resulting in an operating rate

of 88.9 t/h. The grinding, gravity, leaching and CIP circuits will operate 24 hours per day, 365 days per year at an availability of 92%, resulting in an hourly throughput of 72.5 t/h. Carbon elution and regeneration will process 4 t of loaded carbon daily to produce gold (Au) and silver (Ag) doré.

The primary crushing circuit will reduce the ROM ore to a product size P₈₀ of 87.8 mm and the two-stage grinding circuit will target a final P₈₀ grind size of 53 µm. Centrifugal gravity concentrators will be fed by a portion of the hydrocyclone underflow, to recover any gravity recoverable gold and silver. Hydrocyclone overflow passes over a trash screen with the undersize thickened with the underflow pumped to the leach circuit with the gold- and silver cyanide complexes adsorbed onto activated carbon in the CIP (carbon in pulp) circuit. The loaded carbon is recovered from the first CIP tank via the loaded carbon screen. Loaded carbon will be washed with hydrochloric acid and eluted with the pressure Zadra process with a strong caustic cyanide solution at 140°C. The resulting pregnant gold and silver solution will be passed through electrowinning, and recovered to a precious metal sludge which will be refined in an induction furnace to produce gold and silver doré. CIP circuit tailings will be treated with the SO₂/Air cyanide destruction process, and the final tailings will be pressure filtered to a moisture content of 19% and transferred to a dry stack tailings facility or mixed with cement to produce paste to be deposited underground.

The Era Dorada Project is a gold mining initiative located in southeastern Guatemala, within the municipality of Asunción Mita, department of Jutiapa, approximately 160 km from Guatemala City and 9 km from the border with El Salvador. The concession area covers 15.25 km² entirely within Asunción Mita, with the nearest town being Asunción Mita itself, a community of about 17,500 inhabitants situated 7 km from the siteFigure 15-1: Mine Era Dorada – Location.

Figure 1-2: Infrastructure Layout Plan

Source: Ausenco, 2025.

Current access to the project site is through Asunción Mita, via narrow streets and a gravel road crossing the Grande de Mita River over the El Achotal bridge, limited to 27 t, which is inadequate for continuous transport of heavy equipment.

To meet construction and operational requirements, a new access road has been designed, connected to the CA1 Pan-American Highway, suitable for bidirectional traffic at 50 km/h, and upgrades to existing rural roads.

Within the site, the main roads will comprise the access road to the industrial complex and the connector road between the North and South portals, supplemented by auxiliary roads for drainage and reinjection wells, all within property boundaries and security fencing. Ore will be transported from the North portal to the crusher, while waste rock will be hauled from the South portal to the designated dump, with temporary construction roads adapted from existing routes as needed.

The definition of building types for the project considered construction feasibility, cost-benefit ratio, functionality, execution and plant operation timelines, as well as the use of existing structures. All buildings must comply with seismic standards NSE-2-2024 and NSE-3-2024, applicable to Seismic Zone 4.1 in Guatemala, adopting a PGA of 0.40 g for stability analyses. Four main typologies were established:

The Era Dorada Project requires engineered facilities for the disposal of tailings, waste rock, topsoil, and low-grade ore. Tailings will be filtered and deposited as paste backfills underground and in Dry Stack Tailings Facilities (DSTFs). Waste rock will be placed underground as cemented or loose rock fill, with remaining volumes stored in surface Waste Rock Dumps (WRDs). These facilities are designed to ensure long-term stability, environmental compliance, and operational efficiency.

Geotechnical investigations identified alluvial, colluvial, and volcanic deposits with moderate strength and low permeability in fine-grained soils. Groundwater occurs at approximately ten meters depth. The site is located in a tectonically active region, requiring seismic-resistant design in accordance with AGIES 2018 and GISTM standards. Tailings are non-plastic, predominantly silt-sized, with low hydraulic conductivity and no potential for acid generation. Waste rock is considered potentially acid generating, requiring liner systems and drainage controls.

Foundations will be prepared by removing unsuitable materials and installing geomembrane liners with subsurface drainage. Conservative geometries have been adopted for seismic stability: DSTFs with 3H:1V slopes and WRDs with 2H:1V slopes. Water management systems will separate contact and non-contact flows, supported by diversion channels and ponds. Construction will involve controlled placement and compaction of materials, with continuous monitoring through instrumentation and quality control surveys.

Two DSTFs are planned: the first with a capacity of approximately 498,000 m³ and the second with 2.16 Mm³. Waste rock will be stored in WRD 1 (145,000 m³), WRD 2 (67,000 m³), and a new WRD with 616,000 m³ capacity. Additional areas include a topsoil deposit of 6,800 m³ and a low-grade ore stockpile of 61,500 m³.

Slope stability analyses under static, earthquake, and post-earthquake conditions achieved required factors of safety. Reinforcement with geogrids is planned for DSTFs under seismic loading. WRDs demonstrated stability under all scenarios, with localized foundation treatment required for WRD 1.

The surface water management infrastructure was designed to segregate contact and non-contact runoff, directing potentially contaminated flows to containment basins for treatment, while clean water is conveyed through drainage channels to controlled discharge points. Perimeter channels, energy dissipation structures, crossings, and a diversion channel were defined to ensure proper stormwater management. The water balance evaluated inflows, uses, storage, and discharge, verifying compliance with water rights and identifying the need for capacity expansion. The treatment infrastructure includes dedicated systems for mine water, process water, potable water, and sanitary wastewater.

The project’s electrical system has been designed to ensure reliable and scalable power supply from construction through full operation. Initially, power will be provided by a 17 MW diesel plant operating at 4.16 kV under a lease arrangement for the first three years. Permanent power supply will come from a utility substation in Asunción Mita, connected to the site via a 69 kV overhead transmission line approximately 8.6 km long, scheduled for commissioning in 2030. The architecture includes a main substation with step-down transformers, medium-voltage switchgear, primary and secondary distribution networks, as well as emergency and redundancy systems, ensuring operational flexibility, safety, and compliance with industry best practices.

The Era Dorada project currently has an on-site diesel storage facility consisting of two tanks of approximately 37,500 L each, within a concrete containment area, which meets the current demand for electric power generators and for fueling underground mine vehicles and equipment through a mobile fueling station. With the planned expansion, diesel consumption will increase due to on site power generation during the initial years of operation, an expanded fleet for ore transport and handling, and operation of equipment for waste and tailings management. To meet this demand, additional infrastructure for fuel supply, logistics, distribution, and storage will be contracted, ensuring supply for underground mining fronts and ore handling at the processing plant and storage areas. Light vehicles powered by gasoline or other fuels will be refueled off-site in Asunción Mita, Guatemala.

Mineral resource estimations were conducted using a reference gold price of US$2,000/oz. For the evaluation of project economics, gold and silver prices were defined as a price vector over the life of the project, reflecting long-term consensus forecasts compiled from more than 20 investment banking institutions.

The applied metal assumptions are summarized in Table 1-7.

Table 1-7: Gold and Dilver Pricing

No contracts have been entered into at the report effective date for the Era Dorada project.

The Era Dorada Project is licensed to proceed with the operation of the underground mine based on the implementation of the beneficiation and support infrastructure, as presented in the Environmental Impact Assessment (EIA) approved in 2007 by the Ministerio de Ambiente y Recursos Naturales (MARN) of Guatemala. The EIA remains valid, and its associated license is renewed whenever necessary. The continuity of activities depends on compliance with the requirements of current licenses, evidencing the commitment to legal and regulatory compliance. The project maintains up-to-date records of environmental licensing and monitoring.

The EIA approved for the Era Dorada Project includes a Conceptual Mine Closure Plan, which establishes guidelines for the decommissioning of facilities after operations have ceased. Although Guatemalan law requires the official presentation of the plan three years before the end of activities, during the 2019 Feasibility Study, the plan was reportedly reviewed for Aura's internal management purposes.

The Era Dorada Project is being developed in accordance with the scope approved in the EIA of 2007, which includes the underground mining operation and the respective environmental licenses in force. However, as the project progresses and new technical and operational demands are identified, the submission of new permitting applications will be required.

The social strategy of the Era Dorada Project seeks to strengthen the relationship with local communities through transparency, traceability and active participation. The Social Management Plan (SMP) as presented in the 2007 EIA guides actions aimed at community development and impact mitigation and provides a strategy and framework that can be periodically reviewed and revised as conditions require.

The capital and operating cost estimates presented in this report provide substantiated costs that support the feasibility study of Aura’s Era Dorada project. The estimates considered the beneficiation plant with an average gold production rate of 104,113 oz/year.

The capital and operating cost estimate aligns with Class 3 guidelines for an FS-level estimate with an accuracy range of +/-15% as specified by the Association for the Advancement of Cost Engineering International (AACE International). The estimate, developed in Q4 2025, is based on the proposed design for the Project, on Ausenco’s budgetary quotations, in-house project and study database and Aura’s inputs.

All capital and operating cost estimates are presented in US dollars (symbol: US$, currency: USD) and Guatemalan Quetzal (currency: Q, currency: GTQ). The exchange rate applied is:

Guatemalan Quetzal (GTQ) to US dollars (USD): GTQ7.60 = USD1.00.

The following costs and scope items are excluded from the capital cost estimate:

The total capital cost for the Era Dorada Project is US$382.11 million, of which US$197.75 million is for the Plant and US$4.74 million for the tailings, waste rock and stockpiles and US$179.64 of mining costs (with contingency).

The capital cost summary is presented in Table 1-8.

Table 1-8: Capital Cost Summary

Note: Values may not sum correctly due to rounding.

Operating costs include the ongoing costs of operations related to processing, tailings and waste rock disposal, water treatment stations, as well as general and administrative activities. Table 1-9 provides a summary of the operating costs across all phases of operation, expressed on a USD/t ROM basis.

Operation estimated to start with a four-month ramp-up period.

Table 1-9: Operating Cost Summary (USD/t ROM basis)

Note: Values may not sum correctly due to rounding.

Common to all operating cost estimates are the following assumptions:

Plant sustaining costs consider the purchase and assembly of the main electrical substation, power transmission line 69 kV, Asunción Mita’s electrical connection substation, underground mine water treatment and decontamination station, as well as tailings and waste rock piles and owner costs.

The sustaining capital costs summary is presented in Table 1-10.

Table 1-10: Sustaining Capital Costs

Note: Values may not sum correctly due to rounding.

The results of the economic analyses discussed in this section represent forward-looking information as the results depend on inputs that are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those presented here.

Forward-looking statements in this Report include, but are not limited to, statements with respect to future metal prices and concentrate sales contracts, assumed currency exchange rates, the estimation of Mineral Reserves and Mineral Resources, the realization of Mineral Reserve estimates including the achievement of the dilution and recovery assumptions, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of ore zones, permitting time lines, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses and title disputes.

The Project was evaluated using an 5% discounted cash flow (DCF) analysis on a non-inflated, post-tax basis. The cash flows consist of approximately 1 years of pre-production costs and 17 years of operations. Cash inflows consist of annual revenue projections for the mine calculated at considering a price scenario as presented in Section 16. Cash outflows include capital costs, operating costs, royalties, and taxes, which are subtracted from the inflows to arrive at the annual cash flow projections.

The financial model is based on the Mineral Reserves outlined in Section 11, the mining rates and assumptions discussed in Section 12 and 13; and processing rates and recovery methods discussed in Section 14 and capital and operating costs in Section 18, respectively.

Table 1-11: Economic Analysis Summary

* Cash costs consist of mining costs, processing costs, mine-level G&A and refining charges and royalties.

** AISC includes cash costs plus sustaining capital, closure cost and salvage value.

A sensitivity analysis was conducted on pre-tax and post-tax NPV and IRR of the Project, examining the following variables: gold price, gold head grade, gold recovery, sustaining capital costs, initial capital costs, and operating costs. The analysis revealed that the Project is most sensitive to gold price followed by gold head grade, with lesser sensitivity to changes in initial capital costs, operating costs, and sustaining capital costs, as shown in Figure 1-3.

Table 1-12 presents the findings of the pre-tax sensitivity analysis, and Table 1-13 shows the post-tax results.

Figure 1-3: Sensitivity Analysis Pre-Tax and Post-Tax

Source: Ausenco, 2025.

Table 1-12: Pre-Tax Sensitivity

Table 1-13: Post-Tax Sensitivity

Based in the assumptions and parameters presented in this report, the FS study shows positive economics (i.e., US$1,344 million post-tax NPV (5%) and 35.6% post-tax IRR). This FS presents a project that is ready for submission for financial and other support necessary for initiation.

The financial analysis of this FS demonstrates positive economics. It is recommended to continue developing the project through additional studies. The items required to be completed in advance of, and as inputs to, a execution stage are indicated in the respective sections below.

Table 1-14: Recommended Work Program - Summary

In January 2025, Aura Minerals Inc (“Aura” or “the Company”) completed the acquisition of the of the Era Dorada Gold Project - formerly “Cerro Blanco Gold Project” - and Mita Geothermal Project, located in Jutiapa, Guatemala, near the town of Asunción Mita and the border with El Salvador. The Era Dorada Project (“Era Dorada” or “the Project”) is 100% beneficially owned by Aura. Aura is a public, NASDAQ-listed company trading under the symbol “AUGO”, with its head office located at 78 SW 7th St., Miami, FL 33130, USA.

Aura commissioned Ausenco do Brasil Engheharia Ltda. (Ausenco) to prepare a Feasibility Study (FS) and associated Technical Report Summary (TRS) on the Project.

This TRS, titled “Era Dorada Project, S-K 1300 Technical Report Summary and Definitive Feasibility Study, Jutiapa, Guatemala,” has been prepared in compliance with United States Securities and Exchange Commission’s (SEC) Modernized Property Disclosure Requirements for Mining Registrants as described in Subpart 229.1300 of Regulation S-K, Disclosure by Registrants Engaged in Mining Operations (S-K 1300) and Item 601 (b)(96) Technical Report Summary.

The responsibilities of the engineering consultants are as follows: