Ero Copper announces strong phase 1 drill results at Furnas copper-gold project in Brazil

Ero Copper completes Phase 1 drilling at the Furnas Project in Brazil with high-grade copper-gold results. Phase 2 begins as the company advances toward a 2026 PEA.

Ero Copper Corp. (TSX: ERO, NYSE: ERO) has successfully completed the Phase 1 drill program at its Furnas Copper-Gold Project, located in the prolific Carajás Mineral Province in Pará State, Brazil. The results mark a significant milestone in the company's efforts to develop a world-class, high-grade underground mining operation in partnership with Vale Base Metals.

The 28,000-meter campaign yielded highly promising results, including:

105 meters at 1.54% CuEq, including 63 meters at 1.84% CuEq (Hole FURN-DD-00284)

75 meters at 1.30% CuEq, with intervals grading up to 3.06% CuEq (Hole FURN-DD-00271)

So far, Ero has received assay results from approximately 10,000 meters of drilling, with the remaining data expected to be released in the coming months.

“The results from our Phase 1 drill program at Furnas are highly encouraging and reinforce the potential for Furnas to be a significant large-scale, high-grade underground mining operation,” said Makko DeFilippo, President and CEO of Ero Copper.

Phase 1 drilling demonstrated strong continuity and extended known mineralization to depths of up to 730 meters, well beyond the previous limit of 580 meters used in the current mineral resource estimate.

Phase 2 drill program underway

Ero has already launched the Phase 2 drill campaign, with eight rigs currently on site. This next phase will add a minimum of 17,000 meters of drilling, placing greater emphasis on step-out drilling to expand the mineralized envelope.

These results will support an updated NI 43-101 mineral resource estimate and inform the Preliminary Economic Assessment (PEA) scheduled for release in the first half of 2026.

Furnas Project: a strategic copper-gold asset

The Furnas Project spans 2,400 hectares and lies just 50 kilometers from Vale's Salobo operations. The site benefits from excellent infrastructure, including paved roads, a cement plant, a power substation, and a Vale-owned rail facility.

In July 2024, Ero signed a definitive earn-in agreement with Salobo Metais S.A. (a Vale subsidiary), securing a 60% interest in the project by funding exploration and development over five years. Vale retains up to an 11% free carry in construction capital costs.

Initial NI 43-101 mineral resource estimates as of June 30, 2024, include:

Indicated Resource: 35.2 Mt @ 1.04% Cu and 0.69 g/t Au (1.36% CuEq)

Inferred Resource: 61.3 Mt @ 1.06% Cu and 0.63 g/t Au (1.36% CuEq)

About Ero Copper

Ero Copper is a high-growth copper producer with operations in Brazil and headquarters in Vancouver, Canada. The company operates the Caraíba and Tucumã copper mines, as well as the Xavantina gold mine, and holds a 60% earn-in option on the Furnas Copper-Gold Project.

For more information, visit www.erocopper.com