Ero Copper and Vale Base Metals Execute Definitive Earn-In Agreement on the Furnas Copper Project

Rhea-AI Summary

Ero Copper Corp. (TSX: ERO, NYSE: ERO) has announced the signing of a definitive earn-in agreement with Salobo Metais S.A, a subsidiary of Vale Base Metals (VBM), to acquire a 60% interest in the Furnas Copper Project. The project is located in the Carajás Mineral Province in Pará State, Brazil. This agreement aligns with the previously signed binding term sheet announced on October 30, 2023.

The Furnas Copper Project represents a significant opportunity for Ero Copper to expand its presence in a prolific copper-producing region. Investors and stakeholders can find additional details about the project, including location maps, geologic cross sections, and historical drill intercepts, in the Company's earlier press release from October 30, 2023.

Positive

• Ero Copper secures 60% interest in the Furnas Copper Project
• Strategic expansion in the Carajás Mineral Province, a prolific copper-producing region
• Partnership with Vale Base Metals subsidiary enhances project credibility

Negative

• None.

News Market Reaction

-1.48%

1 alert

-1.48% News Effect

On the day this news was published, ERO declined 1.48%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, British Columbia, July 22, 2024 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the “Company”) is pleased to announce that it has signed a definitive earn-in agreement ("Agreement") with Salobo Metais S.A, a subsidiary of Vale Base Metals Limited ("VBM"), to earn a 60% interest in the Furnas Copper Project ("Furnas" or the "Project") located in the Carajás Mineral Province in Pará State, Brazil.

The terms of the Agreement align with the previously signed binding term sheet outlined in the Company's press release dated October 30, 2023. For additional detail on the Project, including location maps, geologic cross sections, historical drill intercepts and a description of the Company’s work programs, please refer to the Company's press release dated October 30, 2023.

ABOUT ERO COPPER CORP

Ero is a high-margin, high-growth, low carbon-intensity copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The Company's primary asset is a 99.6% interest in the Brazilian copper mining company, Mineração Caraíba S.A. ("MCSA"), 100% owner of the Company's Caraíba Operations (formerly known as the MCSA Mining Complex), which are located in the Curaçá Valley, Bahia State, Brazil and include the Pilar and Vermelhos underground mines and the Surubim open pit mine, and the Tucumã Project (formerly known as Boa Esperança), an IOCG-type copper project located in Pará, Brazil. The Company also owns 97.6% of NX Gold S.A. ("NX Gold") which owns the Xavantina Operations (formerly known as the NX Gold Mine), comprised of an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the Caraíba Operations, Xavantina Operations and Tucumã Project, can be found on SEDAR+ at www.sedarplus.ca/landingpage/ and on EDGAR (www.sec.gov). The Company’s shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol “ERO”.

FOR MORE INFORMATION, PLEASE CONTACT

Courtney Lynn, SVP, Corporate Development, Investor Relations & Sustainability
(604) 335-7504
info@erocopper.com

FAQ

What is the Furnas Copper Project earn-in agreement between Ero Copper (ERO) and Vale Base Metals?

Ero Copper (ERO) has signed a definitive earn-in agreement with Salobo Metais S.A, a Vale Base Metals subsidiary, to acquire a 60% interest in the Furnas Copper Project located in the Carajás Mineral Province, Brazil.

Where is the Furnas Copper Project that Ero Copper (ERO) is investing in located?

The Furnas Copper Project is located in the Carajás Mineral Province in Pará State, Brazil.

When did Ero Copper (ERO) announce the binding term sheet for the Furnas Copper Project?

Ero Copper (ERO) announced the binding term sheet for the Furnas Copper Project on October 30, 2023.

What percentage stake will Ero Copper (ERO) earn in the Furnas Copper Project?

Ero Copper (ERO) will earn a 60% interest in the Furnas Copper Project through the definitive earn-in agreement.