Ero Copper’s Tucumã Project Set for Early Q3 Production Start

Ero Copper Corp. (TSX: ERO, NYSE: ERO) (the “Company”) announces the receipt of the Operational License for the Tucumã Project (the "Project"), marking the final permitting milestone for commercial operation. Physical construction nearing 99% completion, advanced commissioning underway, and with over 90% of operational staff hired and trained, initial concentrate is anticipated in early Q3 2024. The total direct capital cost estimate for Project completion remains approximately $310 million.

HIGHLIGHTS

• Permitting: The Tucumã Project has received its Operational License from the Pará State environmental agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS).

• Construction: The physical construction of the Project is approximately 99% complete. All mechanical equipment and electrical installations are finished, with the ball mill successfully handed over to operations. Pre-stripping activities were completed ahead of schedule, and full mining operations have commenced. To date, approximately 110,000 tonnes of ore have been placed on the run-of-mine stockpile, with an additional 55,000 tonnes of ore drilled and ready for blasting. The process control room, on-site process laboratory, and administrative offices are complete. Remaining piping, electrical cabling, and instrumentation installations are on track for completion by the end of Q2 2024.

• Commissioning Plan: Commissioning activities are progressing well on site. The first ore has been processed through the primary and secondary crushers, as well as the screening and conveyance systems, with approximately 10,000 tonnes of ore placed on the crushed ore stockpile. Mechanical completion and sub-component commissioning (including lubrication, hydraulic, electrical, instrumentation, and automation systems) are finished. The first charge through the milling circuit is complete, and flotation and filtration commissioning are nearing completion. The Project remains on schedule to achieve initial production and commence ramp-up in early Q3 2024.

• People & Safety: There have been no lost-time injuries on the Project to date, with over six million hours of work completed since 2022. Additionally, all site-based management positions have been filled, and over 90% of the operational staff required for full-scale operations have been hired and fully trained.

• Project Capital Estimate: The direct capital expenditure for Project completion remains unchanged at approximately $310 million.

" I am thrilled to announce that we have received our operational license from SEMAS, which represents the last regulatory approval required to commence commercial operations at Tucumã. Throughout our operations and the development of this Project, Brazil has consistently shown its dedication to advancing strategic critical mineral initiatives. The success of the Tucumã Project is a clear reflection of this commitment," stated David Strang, Chief Executive Officer.

"As the commissioning of the Tucumã Project progresses smoothly and with first concentrate production scheduled to start next month, I commend our site-based construction, commissioning, and operational teams for their outstanding performance. They have recently surpassed six million hours of work without a lost-time injury. The Company is nearing a significant milestone, which we believe will provide lasting benefits for all our stakeholders," said David Strang, Chief Executive Officer.