Ero Copper sees Caraiba 2023 production 44k-47k tonnes of copper in concentrate

The Company expects to produce 44,000 to 47,000 tonnes of copper in concentrate at the Caraiba Operations in 2023 based on total ore processed of approximately 3.3 million tonnes, average processed copper grades of approximately 1.50% and an average metallurgical recovery of 91.5%. Processed totals are expected to be comprised of: 1.9 million tonnes grading 1.60% copper from the Pilar Mine; 850,000 tonnes grading 1.75% copper from the Vermelhos Mine; and, 550,000 tonnes grading 0.70% copper from the Surubim Mine.For the full year, copper production is expected to be slightly weighted towards H2 2023 due to higher mill throughput levels at the end of the year following the completion of the Caraiba mill expansion, expected in Q4 2023. Copper production in Q1 2023 is expected to be the lowest of the year driven by planned stope sequencing. At the Xavantina Operations, the Company expects to produce 50,000 to 53,000 ounces of gold based on total ore processed of approximately 175,000 tonnes, average gold grades of approximately 10.00 gpt and average metallurgical recoveries of 92.0%. Gold production is also expected to be lowest in Q1 2023 with full-year gold production expected to be slightly weighted towards H2 2023 due to higher mill throughput levels following the expected commencement of production from the Matinha vein during H2 2023.