Company PresentationInformation as of September 30, 2013

(Including preliminary 2013 fourth quarter operational results and 2014 guidance)

TSX: ORA 2

This presentation is subject to change without notice and does not purport to be comprehensive or contain all the information necessary to evaluate the subject matter discussed herein. Accordingly, this document should not form the basis of, and should not be relied upon in connection with, any investment in Aura Minerals Inc. (the “Company”). To the extent that any statements are made in this document in relation to the Company or any securities, they are qualified in their entirety by the terms the Company’s current and future disclosures and/or offering materials, including any additional assumptions and risks contained therein. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by the Company. This document is provided for general informational purposes only.

Scientific or technical information contained herein was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), based on the technical reports set forth below and other information filed by the Company with the Canadian securities regulators, which include more detailed information with respect to the Company’s properties, including the dates of such reports and the estimates included therein, details of quality and grade of each reserve or resource, details of the key assumptions, methods and parameters used in the reserve and resource estimates and other economic projections and a general discussion of the extent to which the resource estimates and the other estimates and projections included in the reports may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. For more detailed information regarding the Company and its mineral properties, you should refer to the Company’s independent technical reports set forth below and other filings with the Canadian securities regulators, which are available at www.sedar.com.

Unless otherwise indicated, information in this presentation:

• with respect to the Company’s Aranzazu mine assumes the successful financing and completion of the planned $113 million mine development, roaster installation and expansion of production capacity and includes information as set forth in the technical report dated August 31, 2012, with an effective date of July 12, 2012, and entitled “Preliminary Economic Assessment of the Expansion of the Aranzazu Mine, Zacatecas, Mexico” prepared for Aura Minerals by AMC Mining Consultants (Canada) Ltd. (the “Aranzazu Report”) and the Company’s press release dated June 6, 2013 (the “June 2013 Press Release” together with the Aranzazu Report, the “Aranzazu Expansion”)

• with respect to the Company’s Serrote project assumes the successful financing and completion of the planned $420 million mine development and the placing of this project into production by the second half of 2015 on a 100% ownership basis and includes information as set forth in the technical report dated October 15, 2012, with an effective date of September 4, 2012, and entitled “NI 43-101 Technical Report on the Feasibility Study for the Serrote da Laje Project, Alagoas State, Brazil” prepared by Micon International Limited under the guidance of SNC-Lavalin Inc. (the “Serrote Report”)

• with respect to the Company’s San Andres mine is based on information as set forth in the technical report dated March 28, 2012, with an effective date of December 31, 2011, and entitled “Resources and Reserves on the San Andres Mine in the Municipality of La Union, in the Department of Copan, Honduras” prepared for Aura Minerals by Bruce Butcher, P.Eng., Vice President, Technical Services of Aura Minerals, J. Britt Reid, P.Eng., former Executive Vice President and Chief Operating Officer and, Chris Keech, P.Geo., former Manager, Geostatistics of Aura Minerals (currently Principal Geologist of CGK Consulting Services Inc.) (the “San Andres Report”)

• with respect to the Company’s Sao Francisco mine is based on information as set forth in the technical report dated January 31, 2012, with an effective date of September 30, 2011, and entitled “Resource and Reserve Estimates on the Sao Francisco Mine in the Municipality of Vila Bela da Santissima Trindade, State of Mato Grosso, Brazil” prepared for Aura Minerals by Bruce Butcher, P.Eng., Vice President, Technical Services of Aura Minerals, J. Britt Reid, P.Eng., former Executive Vice President and Chief Operating Officer, and, Chris Keech, P.Geo., former Manager, Geostatistics of Aura Minerals (currently Principal Geologist of CGK Consulting Services Inc.) (the “Sao Francisco Report”)

Cautionary Notes

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• with respect to the Company’s Sao Vicente mine is based on information as set forth in the technical report dated January 31, 2012, with an effective date of September 30, 2011, and entitled “Resource and Reserve Estimates on the Sao Vicente Mine in the Municipality of Nova Lacerda, State of Mato Grosso, Brazil” prepared for Aura Minerals by Bruce Butcher, P.Eng., Vice President, Technical Services of Aura Minerals, J. Britt Reid, P.Eng., former Executive Vice President and Chief Operating Officer, and, Chris Keech, P.Geo., former Manager, Geostatistics of Aura Minerals (currently Principal Geologist of CGK Consulting Services Inc.) (the “Sao Vicente Report”).

The Aranzazu Report includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the Aranzazu Report will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The scientific data in this presentation and the Company’s other scientific and technical disclosures are prepared in accordance with Canadian securities laws, which differ in certain respects from U.S. securities laws. In particular, while NI 43-101 recognizes and requires the disclosure of “mineral resources”, “measured mineral resources” and “indicated mineral resources” (together “M&I resources”) and “inferred mineral resources”, they are not recognized by the SEC. In addition, “reserves” reported by the Company under Canadian standards may not qualify as reserves under SEC standards. U.S. investors are cautioned not to assume that any part of a “resource” will ever be converted into a “reserve.” In addition, “inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Accordingly, information concerning the characterization of mineralization and resources contained in this presentation may not be comparable to information made public by U.S. companies subject to the reporting and disclosure requirements of the United States Securities and Exchange Commission under Industry Guide 7. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category.

In this presentation, “A” refers to actual and “E” refers to estimated.

Please see the appendix to this presentation for a NI 43-101 mineral resource and mineral reserve statement for the Company’s properties.

This presentation contains non-GAAP measures. Please see Note 17 in the Company’s management discussion and analysis for the period ended September 30, 2013 for a discussion on non-GAAP performance measures.

The Qualified Person for the Company is Bruce Butcher, P. Eng., Vice President, Technical Services, who has reviewed and approved this presentation.

The data included in this presentation regarding industry size, trends and prices are based on a variety of sources, third party studies and surveys, industry and general publications and our knowledge and experience in the industry in which we operate. While we believe such data to be accurate as of the date hereof, this information may prove to be inaccurate. As a result, you should be aware that industry data included in this presentation, and estimates and beliefs based on that data, may not be reliable. We have not independently verified the industry data included in this offering memorandum and cannot guarantee their accuracy or completeness.

Cautionary Notes

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This document contains "forward‐looking information" within the meaning of Canadian securities legislation and "forward‐looking statements" within the meaning of the United States securities law, including but not  limited to preliminary Q4 and 2013 full year production and 2014 guidance.  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", 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 (xii) 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, inadequate financing, 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 20, 2013, under the heading “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 forward‐looking 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.

Forward‐Looking Statements

1. Company Highlights

TSX: ORA 6

Company Snapshot

Canadian mining company focused on the operation and development of copper and gold assets in the Americas Headquartered in Toronto and publicly traded on the TSX (ticker ORA) Over 1,300 employees and approximately 1,000 contract workers

Producing asset portfolio includes: Aranzazu copper‐gold‐silver mine in Concepcion del Oro, Zacatecas, Mexico San Andres gold mine in La Union, Copan, Honduras São Francisco and São Vicente gold mines in Western Mato Grosso State, Brazil

The copper‐gold Serrote da Laje project in Alagoas State, Brazil is the Company’s principal development asset

2013 preliminary production results: 13,623,000 pounds of copper, inline with guidance of 13 to 15 million pounds 206,747 ounces of gold, exceeding guidance of 166,000 to 185,000 ounces

2014 production guidance: 18 to 19.5 million pounds of copper 155,000 to 177,500 ounces of gold

For the last twelve month (“LTM”) period ended September 30, 2013, revenue and adjusted EBITDA¹ of $342.3 million and $67.4 million, respectively

¹ Adjusted EBITDA is a non‐IFRS measure.   A detailed reconciliation of the non‐IFRS measure adjusted EBITDA to Net Profit (Loss) is included in the financial section of this presentation 

TSX: ORA 7

Asset Summary

Serrote (Brazil) 4Primary commodity: CopperAvg. Production: 65M lbs. per yearAvg. Cash Costs: $1.40 / lb.Life of Mine: 13 years (beginning in 2015)

San Andres (Honduras) ²Primary commodity: GoldAvg. Production: 65,000 oz. per yearAvg. Cash Costs: $1,000 / oz. Life of Mine: 10 years

São Vicente and São Francisco (Brazil) 3Primary commodity: GoldAvg. Production: 100,000 oz. per yearAvg. Cash Costs: $1,100 / oz.Life of Mines: 1.5 years

Aranzazu (Mexico) ¹Primary commodity: CopperAvg. Production: 30M lbs. per yearAvg. Cash Costs: $1.15‐1.25 / lb.Life of Mine: 16 years (beginning in 2015)

Producing MinesAdvanced Development

Note: Average production, cash costs, and life of mine are projections only.  Please refer to the Company’s management discussion and analysis and condensed interim consolidated financial statements for the three months ended March 31, 2013, which are available on SEDAR, for financial and operating results1.  Subsequent to the Aranzazu Report and based on additional engineering studies by the Company, the Company plans to increase capacity to 4,500 tpd concurrently with a roaster installation. Expected productions, cash costs, and life of mine assume and are based on completion of the Aranzazu Expansion, which includes capacity expansion and roaster. Please refer to the Aranzazu Report for a detailed description  of the Aranzazu mine and the June 2013 Press Release2.  Please refer to the San Andres Report for a detailed description of the San Andres mine3.  Please refer to the Sao Vicente Report and the Sao Francisco Report for a detailed description of the Sao Vicente and Sao Francisco mines, respectively4.  Please refer to the Serrote Report for a detailed description of the Serrote project. Estimates assume completion of the development of the Serrote project described in the Serrote Report

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Key Highlights

Strong copper and gold resource platform to support organic growth

Mine expansion (well advanced), plant expansion (engineered), and roaster package (awarded) optimizing flagship Aranzazu copper asset

Disciplined management driving operational improvements and greater operating cash flow

Significant asset value

Serrote da Laje (Brazil) copper development asset provides valuable long‐term option

Estimated Annual Production

2013A 2014E 2015E 2016E 2017E 2018E

Aranzazu: 13.623M lbs. in 2013Ramping up to 18‐19.5M lbs. in 2014

Aranzazu Expansion + Roaster Installation: 30M lbs. per year on avg.1

Brazilian Mines: total of ~143Koz. in 2013, 80.5‐92.5Koz. in 2014 + Disposition of Assets

San Andres: ~64Koz. in 2013, 75‐85Koz. expected in 2014. 

Serrote : 66M lbs. per year on avg.2

Strong Copper and Gold Resource Platform to Support Organic Growth

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Note: all amounts shown above are expected average annual production, where applicable)1 Aranzazu production estimate assumes completion of the Aranzazu Expansion and is based on the Aranzazu Report and the June 2013 Press Release2 Represents 100% of ownership of Serrote project.  Serrote production estimate assumes completion of the mine development and is based on the SerroteReport.

Transforming from a gold‐copper company to a low cost copper producer

CopperGold

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Business Plan SummaryYear Aranzazu San Andres Brazilian Mines Serrote

2013 Engineering and procurement by AMEC

Basic engineering for increased 4,500 tpdcapacity by Jacobs

Operational efficiency enhancements

Achieve strong positive cash flow from both operations

Bridge financing Community resettlement Detailed engineering and 

procurement

2014 Ongoing capacity ramp up

Ramping up production Reserve and Resource 

update

Expected throughput expansion from additional crusher

Reserve and Resource update

São Vicente closure Exchange of SV plant 

for cash or interest in strategic partner

Project financing

2015 Complete ramp up to new capacity rate

Ongoing source of cash flow

São Francisco closure Construction

2016 Roaster installation Commissioning ‐ Start‐Up– Ramp‐Up

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Aranzazu Overview and Outlook

Acquired in 2008 ‐ commercial production achieved in February, 2011 

Achieved full production from mine and mill throughput, 2,600 tonnes per day (“tpd”) in 2012 and 2013 

Moving into higher production of primary sulphide ore from underground production

Operational improvement underway with production capacity expansion and the ordering  of the roaster

New block model and life of mine plan being prepared 

Location Zacatecas, Mexico

Ownership 100%

Project Type Open Pit‐Under Ground, flotation

M&I Resources1 588 M lbs. Cu; 390Koz. Au

Capacity1 2,600 tpd expanding to 4,500 tpd

2013 PreliminaryResults2

13,623,000 lbs.

2014 Guidance3 18M lbs. – 19.5M lbs.

1. Please see the Aranzazu Report and the appendix for the mineral resources statement. The Aranzazu Report is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the Aranzazu Report will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

2. Please see the Company’s press release dated January 23, 2014.3. 2014‐2018 projections are based on Aranzazu Report projections at 4,000 tpd, assuming 80%, 82%, and 88% recovery rates in 2014, 2015, and 2016‐2018, respectively and 

assumes completion of the proposed Aranzazu Expansion

$2.82

$3.63 $3.38

$2.08

$1.27 $1.18 $1.09

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

2011A 2012A 2013E 2014E 2015E 2016E 2017E

Cas

h C

ost

s ($

/lb

.)

Expansion and Upgrade of Flagship Copper Asset, Aranzazu

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Transformation of Aranzazu is ongoing, certain items are on hold pending completion of the financing

PEA published in August 2012 outlined key improvements Installation of roaster to reduce arsenic 

content in concentrate Increase capacity from 2,600 tpd to      

4,000 tpd  Roaster delivery and installation is currently on 

hold pending completion of financing and update to life of mine production plan.

Expansion capacity now fixed at 4,500 tpd by basic engineering (80% complete)

$103mm in required capital expenditures Full benefit of these improvements will 

approximately double production to 30M lbs

Production (pending financing)

Cash Costs (pending financing)

Aranzazu Capital Projects, 2013 through 2015

PLANT EXPANSION, $39 million

Additional mill, paste‐fill plant and tailings thickener expected to increase copper production to 35 million pounds per year by 2015

Expected to decrease cash cost per payable pound of copper produced by $0.75‐$1.00 

ROASTER, $33 million

Lower treatment, refining and penalties charges anticipated to decrease arsenic related charges and penalties by up to $1.00 per payable lb. of copper produced

Environmentally conscious and permitted

MINE DEVELOPMENT, $41 million

Intended to enable access to higher grade ore bodies, phasing out the open pit by 2014

Expected to decrease cash cost per payable pound of copper produced by $0.75‐$1.00

Resources open on strike and at depth

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2013‐2015 Planned Capital Expenditures (Plant Expansion and Roaster pending financing)

Aranzazu’s Path to Lower Cash Costs 

Please see the June 2013 Press Release and the Aranzazu Report 

Source: Company financials, June 2013 Press Release

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Aranzazu Improvements Aimed at Shifting to a Lower Cost Copper Asset

2015E Industry Copper Cost Curve1

$0.00

$0.40

$0.80

$1.20

$1.60

$2.00

$2.40

$2.80

$3.20

$3.60

$4.00

0% 25% 50% 75% 100%

Cas

h Cos

t ($

/lb.

)

Cumulative Production (Percentile)

1.  Source: Wood Mackenzie Metals Cost League Reporting Tool2.  Aranzazu midpoint cash cost following mine development, plant expansion, and roaster installation per the June 2013 Press Release. Please also see the Aranzazu Report

Aranzazu midpoint cash cost2

TSX: ORA 15

San Andres Overview

Acquired in August 2009

Generating significant cash flow

2012‐2013 drill program has aimed at identifying additional mineral resources

Negotiations completed with local communities enabling enhanced mine development

Projected Life of Mine cash cost of $1,000 per oz

Location Honduras

Ownership 100%

Project Type Open Pit, Heap Leach

P&P Reserves1 784 Koz.

M&I Resources1 1,631 Koz. (includes mineral reserves)

Throughput 10,000 tpd

Life of Mine 10 years

2013 Results 63,811 oz.

2014 Guidance 75,000‐85,000 oz.

Note: 2013A ‐ Please see the Company’s press release dated January 23, 2014.1. Please see the San Andres Report and the appendix for a complete Mineral Reserve and Mineral Resource Statement

TSX: ORA 16

San Andres Key Operating Initiatives

Current Initiatives:

Significant operational flexibility with two primary crushers 

Installation and operation of new stacker with the objective of reducing pad pressure and improving percolation

New water treatment plant now operational

Successful negotiations with local communities to enable enhanced mine development

Future Initiatives:

New block model and life of mine plan being prepared 

Planned additional secondary crusher

TSX: ORA 17

São Francisco Overview 

Open pit, heap leach, gravity circuit

Plan to stop mining in early 2014, but processing anticipated to continue through 2014

Key initiatives:

Optimized mine plan to end of mine life

Overall cost reduction program implemented

Processing of tailings

2013 preliminary production results of 105,541 ounces

2014 production guidance of 75 – 85Koz.

São Vicente Overview

Open‐pit, heap leach, gravity circuit

Mining and processing planned through 2013

Minimal production planned in 2014

Potential exchange of plant for cash or interest in strategic partner

2013 preliminary production results of 37,395 ounces

2014 production guidance of 5,500 – 7,500 ounces

2,600 tpd 4,000 tpd 5,600 tpdBase Case Expansion Expansion

Mine Life 25 years 18 years 13 yearsAverage Annual Metal Production

Copper (lb.) 19,950,000 30,000,000 41,750,000Gold (oz.) 12,100 26,700 22,900Silver (oz.) 280,000 410,000 570,000

Cash cost per payable pound of Cu $1.90 $1.15 $1.09Capital investment 2013-2014 $62 million $107 million $124 millionIncremental capital versus the Base Case - $5 million $62 millionNPV at 8% discount, after tax $55 million $200 million $219 millionIncremental NPV versus the Base Case - $145 million $164 millionIRR (after tax) n/a 71% 63%Incremen tal IRR (after tax) versus the Base Case - 58% 52%

TSX: ORA 18

Significant Asset Value

Key Results from the Assessment of Expansion Options at Aranzazu*

Source: Aranzazu Report. Note: Metal price forecasts for copper, gold and silver include higher near term pricing followed by a gradual ramp‐down to long term projections of $2.70/lb., $1,216/oz. and $21/oz. respectively. AMC recognizes that the short term metal price projections (2013 – 2014) used in the economic evaluation are higher than prevailing prices at the time of writing. However, AMC considers that the application of recent metal prices to the project economics in years 2013 and 2014 does not materially alter project viability.*The Aranzazu Report is preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the Aranzazu Report will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

The PEA estimates that the Aranzazu 4,000 tpd expansion will carry an estimated standalone NPV of $200 million

There is significant value at San Andres Brazilian Mines have residual land and equipment values following cessation of mining operations

TSX: ORA 19

Serrote Provides Valuable Long‐Term Option A wholly‐owned development‐stage copper‐gold 

project which is the Company’s core development asset

Significant reserve position 0.98BN lbs. contained Cu (proven and 

probable)* Meaningfully increases copper exposure

Initial target production of 32M lbs. per year Average LOM production of 66M lbs. per year

Project is substantially de‐risked Feasibility study completed  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 underway Main engineering package awarded  Major processing equipment bids received Developed under Equator Principles

Copper Production Expansion*

• Reflects 100% ownership at Serrote• Serrote production estimates based on the  Serrote Report

* Please see Serrote Report and the appendix for the mineral reserve and resource statement

Operating Metrics*

Licensing Installation License Granted

Plant Capacity 7Mtpa Copper Concentrator (flotation)

LOM Production 831M lbs. Cu; 171Koz. Au Total / Avg. ~66M lbs. 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 NPV8% and IRR 191 million; 19.4%

Capex $420 million (net of recoverable taxes)

LOM Cash Costs $1.40 per lb.

Effective Tax Rate 15.25% (Net of State and Federal tax incentives)

*  Please see Serrote Report and the appendix for the mineral reserve and resource statement**   Reflects 100% ownership

TSX: ORA 20

Management Team Overview

Jim Bannantine, P. Eng.President and CEO

Joined Aura in October 2011

• Partner Atlantic Capital Group – Private Equity

• President and COO Broadwing Corp.

• 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

Agne AhleniusGeneral Manager, Aranzazu Mine

Joined Aura in August 2012

• 25 years in international mining operations and 

development projects

• Served as the COO of Orvana Minerals Crop, General 

Manager, Kinbauri España S.L. for El Valle operation 

in Asturias, Spain

Neil HepworthSVP Brazil 

Joined Aura in December 2010

• 30+ years of mining experience

• VP of Operations for both European Goldfields 

Ltd and Crew Gold Corporation

• 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

Rory Taylor, CACFO

Joined Aura in March 2012

• 15+ years of mining experience

• VP Finance, Mining Operations at Endeavour Mining 

Corporation 

• VP Finance at Crew Gold Corporation for 6 years 

• Extensive project experience in West Africa, 

Greenland and the Philippines

Monty ReedGeneral Manager, San Andres Mine

Joined Aura in August 2011

• 35 years of mining experience

• Senior project and operations roles throughout the 

Americas, notably in regions with complex community 

relations issues and tropical climates

• Has worked with Silver Standard Resources Inc, Buffalo 

Gold Ltd, IAMGold Corp, and Placer Dome Inc on 

development and operation of open pit mines

Senior management team focused on development and execution: highly experienced individuals with variedmining, technical, operational and finance skills

Note: Adjusted EBITDA is a non‐IFRS term. A reconciliation of Net Loss to Adjusted EBITDA is included in the appendix of this presentationPlease see the Company’s press release dated January 23, 2014.

TSX: ORA 21

Management Driving Positive Earnings And Adjusted EBITDA Growth

Operational and Corporate Restructuring

• Record gold production for the year in 2013.  • Exceeded the upper end of annual gold production guidance and met our annual copper production 

guidance.

TSX: ORA 22

Corporate Social Responsibility

Aura’s corporate responsibility framework includes four core principles: Protect the environment and the health and safety of people Value honesty and integrity Promote open communication and transparency Strive to continuously improve corporate responsibility practices

Aura’s policy is to comply with municipal, state, and federal environmental legislation and work with regulatory authorities to identify and mitigate health, safety, and environmental issues

Aura works closely with local authorities, employees, and community members to identify corrective actions and preventative measures that best promote responsible health and safety practices

Aura is committed to sustainable development, safety, the preservation of the environment and the improvement of communities where the Company operates

2. Financial Overview 

TSX: ORA 24

Historical Annual Summary FinancialsProduction

Adjusted EBITDA and Cash Margins  Capital Expenditures

Revenue

Note: Cash margins is a non‐IFRS term used by the Company. It is defined as production x (realized prices – cash costs)Please see the Company’s press release dated January 23, 2014.

$163.7

$288.4 $307.4

$342.3

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

$300.0

$350.0

2010 2011 2012 LTM 9/30/13

Rev

enu

e ($

M)

Gold Copper

$68.1

$52.2

$34.3

$63.8

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

2010 2011 2012 LTM 9/30/13

Cap

ital

Exp

end

itu

res

($M

)

137.5 160.2

173.3 206.7

7.1

11.0 13.6

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

0.0

50.0

100.0

150.0

200.0

250.0

2010 2011 2012 2013

Cop

per

Pro

du

ced

(M

lbs.

)

Gol

d P

rod

uce

d (

00

0 o

z.)

Gold Copper

$19.5

$57.4

$37.5

$67.4

$50.9

$81.2

$49.7

$73.5

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

$90.0

2010 2011 2012 LTM 9/30/13

($M

)

Adjusted EBITDA Cash Margins

TSX: ORA 25

Historical Quarterly Summary FinancialsProduction

Adjusted EBITDA and Cash Margins  Capital Expenditures

Revenue

Note: Cash margins is a non‐IFRS term used by the Company. It is defined as production x (realized prices – cash costs)Please see the Company’s press release dated January 23, 2014.

$75.6 $72.6 $72.8 $86.4 $88.6 $81.3 $86.0

$342.3

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

$300.0

$350.0

1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 LTM

Rev

enu

e ($

M)

Gold Copper

$6.0 $5.6 $6.6

$16.1

$23.5 $17.5

$6.7

$63.8

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 LTM

Cap

ital

Exp

end

itu

res

($M

)

37.6 42.4 43.1

50.3 50.4 52.4 55.6

48.3

3.3 3.0

2.5 2.2

3.0 3.2

3.8

3.6

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

0.0

10.0

20.0

30.0

40.0

50.0

60.0

1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13

Cop

per

Pro

du

ced

(M

lbs.

)

Gol

d P

rod

uce

d (

00

0 o

z.)

Gold Copper

($0.1)

$2.1

$16.0 $19.6 $11.6 $10.4

$25.8

$67.4

$4.0 $12.5

$13.2 $20.0

$17.4 $14.5 $21.6

$73.5

($10.0)

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 LTM

($M

)

Adjusted EBITDA Cash Margins

TSX: ORA 26

Overview of Key Financial Policies

Hedging program

Board approved use of foreign currency contracts and gold and copper collar contracts to mitigate exposure to price fluctuations

Management policy is to hedge a substantial amount of twelve month production

Management actively and continuously seeks to insure margins through careful placement of hedging positions

Dividend policy

No dividends have been paid, or distributions made within the 3 most recently completed financial years 

For the foreseeable future Aura expects to retain future earnings and other cash resources for the operation and development of its business

Payment of any future dividends or distributions will be at the discretion of the Board after taking into account many factors, including Aura’s financial condition and current and anticipated cash needs

Appendix: Company Information

TSX: ORA 28

Reserve & Resource Statement – Copper

Aranzazu Mineral Resources (as of 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 Aranzazu Report.

Category Tonnes(‘000)

Copper(%)

Copper(‘000 lbs)

Gold(g/t)

Gold(‘000 oz.)

Silver(g/t)

Silver(‘000 oz)

Measured 8,338 1.36 250,215 0.82 219 14.06 3,768Indicated 9,432 1.63 338,523 0.56 171 21.45 6,504Measured and Indicated 17,770 1.50 588,738 0.68 390 17.98 10,272Inferred 5,808 1.40 178,902 0.58 94 17.64 3,295

TSX: ORA 29

Reserve & Resource Statement – CopperSerrote Mineral Reserves (for Sulphide material as of April 10, 2012)

Classification1 Material t (x 1,000) Cu (%) Au (g/t) Magnetite (%) NSR $/t

Proven2, 450,805

0.54 0.10 7.09 25.26

Probable2, 3, 4 34,667 0.50 0.09 7.82 22.77

Total Reserves 85,471 0.52 0.10 7.38 24.25

Serrote Mineral Reserves (for Sulphide material as of September 14, 2010)

Classification Tonnes (000) Cu(%)

Cu(‘000 lbs)

Au(g/t) Au

(‘000 oz)

Measured 63,319 0.51 718,7710.11

220.5

Indicated 55,894 0.48 596,7790.08

150.1

Total Measured and Indicated Resources 119,213 0.50 1,315,5500.10

370.6

Inferred 5,024 0.35 38,6330.06

9.2

1. The Measured and Indicated mineral resource was converted to mineral reserves based on $3.00/lb copper and $1,250/oz gold prices, 84% recovery for copper and 65% gold recovery within the ultimate pit design above an economic NSR cut‐off of $7.45/t. The resources are factored by planned mining dilution and ore losses to define the reserves.2. Above a NSR cut‐off of $7.45 / tonne and inside the designed ultimate pit.3. Includes 1,745k tonnes of additional low grade material as dilution.4. Numbers may not add due to rounding.Although the Company believes the oxide and magnetite asset has potential economic value, it is not included in the reserve calculations.

1. Based on 0.12% CU Cut‐off.2. Numbers may not add due to rounding.3. Oxide material and the magnetite from the sulphide materialAlthough the Company believes the oxide and magnetite asset has potential economic value, it is not included in the resource calculations. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 

For additional information on the Mineral Reserves and Resources, please consult the Serrote Report.

TSX: ORA 30

Reserve & Resource Statement – Gold

* Mineral Resources are inclusive of Mineral Reserves.A cut‐off grade of 0.28 g/t Au for oxide material and a cut off grade of 0.37 g/t Au for mixed material. Numbers may not add due to rounding.

For additional information on the Mineral Reserves and Resources, please consult the San Andres Report.

Reserve Category Tonnes (000) Au (g/t) Contained Ounces (000)

Proven 33,536 0.54 581

Probable 12,227 0.52 203

Total Proven and Probable Reserves 45,762 0.53 784

San Andres Mineral Reserves and Resources (as at December 31, 2011)

Resource Category Tonnes (000) Au (g/t) Contained Ounces (000)

Measured 67,877 0.50 1,082

Indicated 31,062 0.55 549

Total Measured and Indicated Resources

98,839 0.51 1,631

Inferred Resources 1,918 0.51 32

* Mineral Reserves at cut‐off of 0.34 g/t Au for oxides and 0.45 g/t Au for mixed ore.Numbers may not add due to rounding.

TSX: ORA 31

Reserve & Resource Statement – Gold

The mineral resource estimate is based on a cut‐off grade of 0.23 g/t Au. Mineral resources are inclusive of mineral reserves. Numbers may not add due to rounding.

For additional information on Mineral Reserves and Resources, please consult the Sao Francisco Report.

Reserve Category Tonnes (000) Au (g/t) Contained Ounces (000)

Proven ‐ ‐ ‐

Probable 10,890 0.91 318

Total Proven and Probable Mineral Reserves 10,890 0.91 318

Sao Francisco Mineral Reserves and ResourcesMineral Reserve and Resource Estimates as at September 30, 2011*

Resource Category Tonnes (000) Au (g/t) Contained Ounces (000)

Measured ‐ ‐ ‐

Indicated 10,923 0.95 334

Total Measured and Indicated Mineral Resources 10,923 0.95 334

Inferred Resources 83 0.47 1

* The mineral reserve estimate is based on a cut‐off grade of 0.25 g/t Au.

TSX: ORA 32

Reserve & Resource Statement – Gold

* The mineral resource estimate is based on a cut‐off grade of 0.25 g/t Au for dump leach ore and 0.40 g/t Au for crushed gravity ore. Mineral resources are inclusive of mineral reserves.

For additional information on Mineral Reserves and Resources, please consult the Sao Vicente Report .

Reserve Category Tonnes (000) Au (g/t) Contained Ounces (000)

Proven 2,165 0.85 59

Probable 779 0.79 20

Total Proven and Probable Mineral Reserves 2,943 0.84 79

Sao Vicente Mineral Reserves and ResourcesMineral Reserve and Resource Estimates as at September 30, 2011*

Resource Category Tonnes (000) Au (g/t) Contained Ounces (000)

Measured 4,233 0.95 129

Indicated 1,737 0.84 47

Total Measured and Indicated Mineral Resources 5,970 0.91 175

Inferred Resources 291 0.46 4

* The mineral reserve estimate is based on a cut‐off grade of 0.25 g/t Au for dump leach ore and 0.40 g/t Au for crushed gravity ore.

Contact Information

155 University Ave, Suite 1240Toronto, ONM5H 3B7Canada

Ph: +1.416.649.1033Fax: +1.416.649.1044Email: info@auraminerals.com

Aura Minerals Inc.