Ero Copper sees 2023 Copper C1 cash cost of $1.40-$1.60 per pound

The Company’s 2023 C1 cash cost guidance range for the Caraiba Operations of $1.40 to $1.60 per pound of copper produced reflects sales allocation of 100% of copper concentrate produced to the international market and elevated consumable cost input assumptions reflecting Q4 2022 consumable pricing. The Company will continue to review sales channel allocations throughout the year as its domestic customer progresses through a financial restructuring that commenced in Q4 2022. A resumption of domestic sales has the potential to lower concentrate sales costs. At the Xavantina Operations, the Company’s C1 cash cost guidance range of $475 to $575 per ounce of gold produced reflects the impact of significantly higher anticipated mined and processed gold grades compared to 2022, partially offset by elevated consumable cost assumptions, which also reflect Q4 2022 consumable pricing. The Company’s AISC guidance range for 2023 is $725 to $825 per ounce of gold produced. The 2023 cost guidance assumes a USD:BRL foreign exchange rate of 5.30, a gold price of $1,725 per ounce, and a silver price of $20.00 per ounce.