Ero Copper Demonstrates Significant Near-Term Growth in Updated 5-Year Outlook -… – Press Release

VANCOUVER, British Columbia, April 05, 2023 (GLOBE NEWSWIRE) — Ero Copper Corp. ERO NYSE: ERO) (“Ero” or the “Company”) is pleased to provide an updated five-year operating outlook, reflecting the Company’s continued execution of ongoing strategic growth initiatives, including the forecasted first production from the Tucumã Operation in 2024 and first production utilizing the new external shaft at the Caraíba Operations’ Pilar Mine in 2027.

HIGHLIGHTS

On Track to Deliver Significant Near-Term Growth

• Consolidated copper production expected to increase by approximately 125% from 2022 levels to a range of 100,000 to 110,000 tonnes in 2025, higher than the Company’s previous 2025 production forecast of 92,000 to 102,000 tonnes¹
• Gold production on track to grow by approximately 40% from 2022 levels to a range of 55,000 to 60,000 ounces per year beginning in 2024

Tucumã Production Plan Enhanced by Infill Drilling Program & Stockpile Optimization

• Higher expected mined copper grades at Tucumã during the first three years of operation driven by positive grade reconciliation from recent infill drilling
• Additional increases to processed copper grades driven by stockpile optimization associated with a planned increase in mining rates during 2025 and 2026 as compared to the Company’s five-year outlook issued in 2022¹ (the “2022 5-Year Outlook”)

Caraíba Outlook Reflects Success of Project Honeypot

• The Caraíba Operations’ improved copper grade projections compared to the 2022 5- Year Outlook¹ driven by the success of Project Honeypot
• The ongoing integration of Project Honeypot into Caraíba’s life-of-mine (“LOM”) production plan enabled the deferral of approximately $55 million² of new external shaft-related capital from 2022 to subsequent periods

Xavantina Outlook Showcases Ongoing Execution of NX 60 Initiative

• Higher expected gold grades compared to the 2022 5-Year Outlook¹ demonstrate continued value creation through investment in exploration and underground infrastructure

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