123 mw forex system

On April 30, 2015 the Company announced that it entered into 123 mw forex system agreement with Serra da Borda Mineração e Metalurgia S. Mato Grosso state, near Pontes e Lacerda in Brazil. During the regulatory approval period, additional feasibility work was completed on the Project including infill drilling and metallurgical test work to better define the mineral resources and refine both the mine design and planning.

MCB Brazil and Knight Piesold Ltd. The EPP Technical Report is subject to the assumptions, qualifications and procedures described in the report, as applicable, and readers are encouraged to read the report in its entirety. A copy of the report may be found on the Company’s profile on SEDAR at www. In addition to information contained in the EPP Technical Report, the Company has updated its Mineral Reserves and Mineral Resources for the Lavrinha open pit mine as follows. In the aggregate, the Company does not deem the changes in the Mineral Reserves and Mineral Resources as material but is presenting the information to include fulsome disclosure. Mineral Reserve was estimated at a cut-off grade of 0. Contained metal figures may not add due to rounding.

Surface Topography as of December 31, 2016. Mineral Reserve estimates for Lavrinha were reviewed and audited in 2016 by Farshid Ghazanfari, P. Qualified Person as that term is defined in NI 43-101. A bulk density model based on rock type was used for volume to tonnes conversion with resources averaging2. Mineral Resources estimates for Lavrinha were reviewed and audited in 2016 by Farshid Ghazanfari, P. The following description of the EPP Mine is the Executive Summary contained in the EPP Technical Report, which has been updated and conformed to be consistent with other disclosure within this AIF. The entire EPP Technical Report is incorporated by reference into this AIF and should be consulted for details beyond those incorporated herein.

Aura, through its Brazilian subsidiaries, acquired the EPP Project from Yamana Gold Inc. The Project was initially studied by Yamana from 2009 to 2011, and was put into production in early 2013 until being placed on care and maintenance in late 2014. The EPP Project is the third gold mining operation owned by Aura in this specific region of Brazil. The EPP Project consists of three deposits, two that have been planned to be mined as underground operations and the third which is planned as an open pit operation. Three additional areas will be evaluated in 2017 and 2018. Company’s Sao Francisco mine and 12 km south of the town of Pontes e Lacerda. The Project’s process plant is located at Ernesto.

The Pau-a-Pique underground deposit is located approximately 47 km south of the Ernesto and Lavrinha deposits and process plant. 5 km of the process plant. This Report supports a systematic sequence to launch three gold mines starting with the Lavrinha open pit gold deposit, followed by the re-start of the Pau-a-Pique underground gold deposit and subsequently the development and production of the Ernesto underground gold deposit. E understands that the Company may use this Report for internal decision making purposes and will be filed as required under applicable Canadian securities laws.

The Report may also be used by the Company to support financings. E Updated Mineral Resource Estimate presented in this Report has been prepared in full conformance and compliance with the “CIM Standards on Mineral Resources and Reserves – Definitions and Guidelines” as referred to in NI 43-101 and Form 43-101F, Standards of Disclosure for Mineral Projects and in force as of the effective date of this Report, which is July 31, 2016. 2 Location and Ownership The Ernesto, Lavrinha and Pau-a-Pique gold deposits are near the town of Pontes e Lacerda, approximately 450 km west of Cuiabá, the capital of the Brazilian state of Mato Grosso. The Ernesto Deposit is approximately 12 km southeast of Pontes e Lacerda. Yamana, to acquire, upon completion of certain conditions, the assets and liabilities of the Project. On June 23, 2016, the Company announced that it had completed the acquisition and has assumed operation control of the Project.

Aura provided a letter dated July 31, 2016, from Ryan Goodman, VP of Legal Affairs for Aura, which states that Apoena is a wholly-owned subsidiary of the Company. NSR on gold ounces produced from the Project. The CFEM is calculated based on net income resulting from the sales of the mineral product, deducting taxes and costs of transport and insurance. BR-174 for 12 km and then following 2 km of gravel and dirt roads that offer year-round access to the Project. The Pau-a-Pique Deposit is approximately 73 km by road from Pontes e Lacerda, and approximately 47 km by dirt road from Ernesto. The region hosts the hot, tropical and semi-humid climate of the Mato Grosso state in west-central Brazil.

Average annual precipitation is estimated at 1,440 mm. 12 km 138 kV transmission line from Pontes e Lacerda . The Ernesto Property also contains a gate house, administration offices, core shack, explosives storage facility, and the mined-out Ernesto open pit and waste rock storage area. 4 History Gold was first discovered at the Aguapeí Gold Belt by Portuguese settlers in the 18th century, around 1734, and it was mined from primary colluvial, alluvial or placer deposits. Vicente mines, Rio Galera, Santana, Nossa Senhora do Pilar, Aguapeí, Cágado, Santa Bárbara and Lavrinha.

Gold production data in this period are not accurate, but it is estimated that approximately 5-6 tonnes of gold was produced between 1990 and 1995. Copacel and Minopar, local mining companies, were the first and main owners of exploration permits in the Ernesto District in the early 1990s. In 1992, Anglo American and WMC carried out intensive surface geochemical surveys along the belt, mainly stream sediment sampling. In 1993, Madison do Brasil, after acquisition of exploration permits from Copacel and Minopar, carried out a diamond drilling program at Japones, Nosde, Lavrinha and Ernesto targets. The Aguapeí group in the Pau-a-Pique and Ernesto -Lavrinha areas is structurally marked by reverse faults, isoclinal folds and strong penetrative axial planar cleavage, often crenulated. The metasediments occur within a fold and thrust belt that is deformed under brittle-ductile conditions and are commonly in tectonic contact with the basement.