Aura Minerals Inc. (TSX:ORA) entered into a binding scheme implementation deed to acquire Big River Gold Limited (ASX:BRV) from Dundee Resources Limited, Copulos Group of Companies and others for approximately AUD 100 million on April 19, 2022. As per the transaction Aura Minerals Inc. will pay AUD 0.36 per share to the shareholders of Big River Gold Limited except Dundee Resources Limited which will receive shares in Aura Minerals Inc. The transaction is subject to approval by shareholders of Big River Gold Limited, approval by Court and ASIC and is approved by board of directors of Big River Gold Limited. The transaction is expected to complete in August 2022.

As of July 5, 2022, the transaction is expected to be completed on September 13, 2022. As on September 2, 2022, Big River Gold shareholders have approved the transaction. If the Court approves the Scheme at the Second Court Hearing, it is expected that the Scheme will take effect on September 9, 2022.

As of September 8, 2022, Supreme court has approved the acquisition. Scheme implementation is expected to occur on September 20, 2022, subject to the satisfaction or waiver of the remaining conditions precedent to the Scheme, including approval by the Court at the Second Court Hearing. Canaccord Genuity Corp.

acted as financial advisor and Gowling WLG (Canada) LLP and King & Wood Mallesons acted as legal advisors to Aura Minerals Inc. Corinne Grigoriu, Jay F. King, Cathy L. Mercer, Alexander Pizale and Paul M. Stein of Cassels Brock & Blackwell LLP and Blackwall Legal LLP acted as legal advisor to Dundee Resources Limited. Next Level Corporate Pty Ltd acted as financial advisor and MinterEllison acted as legal advisor to Big River Gold Limited. Christopher L. Doerksen, Kendall R. Fisher of Dorsey & Whitney LLP acted as legal advisor to Aura Minerals Inc.