ERO.TO · 2019-06-20 12:00:00

Ero Copper intersects 28.1 meters grading 12.60% copper including 18.0 meters grading 15.62% copper in highest grade-meter intercept drilled to date at the Vermelhos Mine and discovers new zone at the Pilar Mine

Drill Results

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Ero Copper Corp

JUNE 20, 2019 NR:19-8

Ero Copper intersects 28.1 meters grading 12.60% copper including 18.0 meters grading

15.62% copper in highest grade-meter intercept drilled to date at the Vermelhos Mine and

discovers new zone at the Pilar Mine

Vancouver, British Columbia – Ero Copper Corp. (the “Company”) (TSX: ERO) is pleased to

provide a quarterly update on the ongoing exploration drill programs on its 99.6% owned Vale do

Curaçá Property located in Bahia State, Brazil, and on its 97.6% owned NX Gold Mine located in

Mato Grosso State, Brazil. This update encompasses drill results received from the end of March

through to the end of May, 2019. Exploration drilling during the period was focused primarily on

upgrade and infill drilling ahead of the Company’s updated National Instrument 43-101, Standards

of Disclosure for Mineral Projects (“NI 43 -101”) compliant technical report and mine plan,

expected to be completed early in the fourth quarter of 2019.

HIGHLIGHTS

• Highest grade -meter intercept drilled to date by the Company on the Vale do Cura çá

Property at the Vermelhos Mine, intersecting 28.1 meters grading 12.60% copper including

18.0 meters grading 15.62% copper;

• Initial drilling beneath the main orebodies of the Vermelhos Mine encountered high-grade

mineralization approximately 70 meters below the Toboggan orebody, intersecting 13.4

meters grading 5.86% copper including 8.4 meters grading 7.04% copper from 306.3

meters down hole;

• New mineralized zone, B araúna, discovered at Pilar M ine, immediately below southern

portion of the historic open pit;

• Continued delineation of newly discovered Santo Antonio vein at NX Gold highlighted by

hole SA49 that intersected 2.9 meters grading 30.33 grams per tonne gold.

Twenty six drill rigs are now operating throughout the Curaçá Valley, including 13 within the

Vermelhos District and 13 within the Pilar District. Three of these drill rigs are testing high-priority

regional exploration targets located within these districts . In addition, a truck- mounted drill rig,

which will focus on expediting regional exploration drilling, has just arrived on site and will be

mobilized in the coming weeks. There are seven drill rigs operating at the NX Gold Mine.

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David St rang, President and CEO of the Company commented, “ The latest results from our

ongoing exploration programs continue to highlight significant opportunities for expansion of the

known mineral resources around our operating mines. In particular, we are impressed by the drill

results at the Vermelhos Mine where we continue to see very high grades over significant widths,

including one of the highest grade -meter holes drilled t o date. We are excited by the new high-

grade mineralization encountered approximately 70 meters below the Toboggan orebody , but

cautious to draw any definitive conclusions from this single intercept until we have further

evaluated the surrounding area with two newly mobilized underground drill rigs.

The new Baraúna discovery at the Pilar Mine continues to speak t o the great work our geology

teams are doing in compiling nearly 50 years of historic data into a modern database. Along with

the West Limb and East zone discoveries, the newly identified Baraúna zone increases our

confidence that we will continue to extend the mine’s life for years to come. T he near-surface

nature of the Baraúna discovery in relation to the past producing open pit mine may, following

detailed engineering, support reopening portions of the open pit to mining in the future.”

SUMMARY

• Within the Vermelhos District, where 13 drill rigs are currently operating including 11

focused on resource upgrade and exploration programs within and adjacent to the

Vermelhos Mine, drill results during the period continue to demonstrate the potential for

increasing the known limits of mineralization within the mine.

o Recent infill drilling of the Toboggan orebody intersected some of the highest

grades drilled to date at Vermelhos, highlighted by hole FVS-393 that intersected

32.0 meters grading 8.12% copper including 13.0 meters grading 13.35% copper

and hole FVS-394 that intersected 28.1 meters grading 12.60% copper including

18.0 meters grading 15.62% copper – the latter representing the highest grade-meter

intercept drilled to date in the Curaçá Valley by the Company. In addition to being

high-grade, these holes represent an approximately 40% increase in the modeled

thickness of mineralization in the immediate area surrounding these results.

o Also within the Vermelhos Mine, the first hole targeting mineralization beneath the

previous known extent of the main Vermelhos orebodies intercepted several

mineralized lenses including a significant massive -sulphide intercept

approximately 70 meters beneath the Toboggan orebody. While the significance of

a single drill hole is limited, the intercept in hole FVS-465 of 13.4 meters grading

5.86% copper including 8.4 meters grading 7.04% copper from 306.3 meters down

hole, opens the area immediately beneath the ex isting infrastructure of the

Vermelhos Mine for potential new zone s of high-grade mineralization. Two

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underground drill rigs have started programs that will test for mineralization

beneath the main orebodies.

o Regionally within the Vermelhos District, exploration drilling is now focused on a

north-northeast mineralized trend encompassing the Vermelhos Mine, East Zone,

N8 Deposit and several high-priority regional targets located south and to the north

of the Vermelhos Mine – a combined strike length of approximately 5.5 kilometers.

There are two drill rigs operating on these regional targets.

• Within the Pilar District, where 13 drill rigs are currently operating, including 12 focused

on upgrade and exploration programs within and adjacent to the Pilar Mine , a new

mineralized zone was discovered beneath the south portion of the historic Pilar Mine, as

well as expansions of mineralization within the underground mine adjacent to the existing

mining operations and infrastructure.

o Ongoing analysis of historic al data has identified a new zone of mineralizatio n

extending from below the southern portion of the historic Pilar open pit mine. The

new zone, called Baraúna, consists of a historic database of over 75 drill holes.

During the period, six confirmatory holes were drilled into the newly discovered

zone, which to- date has been delineated over a north-south strike length of

approximately 450 meters, varying thickness of up to 30 meters and has been

interpreted as extending from outcrop at the bottom of the open pit and connecting

to mineralization at depth in the Pilar Mine . Current drilling is focused on

mineralization above level -157, or approximately 110 meters from the bottom of

the open pit. Drill results during the period are highlighted by hole FC2218 that

intersected 51.6 meters grading 1.33% copper and hole FC2019 that intersected

46.0 meters grading 1.18% copper.

o Within the Pilar underground mine, new drilling of the South Extension from a

newly accessed drill station located on level -174, has delineated a wide zone of

mineralization previously modeled as narrow lenses at the southern edge of the

orebody. Drilling during the period resulted in a significant expansion of this zone

in both thickness and grade in the immediate area of these results, and is highlighted

by hole FC3264 that intersected 21.0 meters grading 1.41% copper including 4.0

meters grading 3.54% copper and 31.9 meters grading 2.78% copper including 3.0

meters grading 5.63% copper.

o Additionally, in the Pilar underground mine, a grouping of deep holes drilled in the

Deepening Extension , including the deepest hole drilled to dat e (FC4885)

encountered high-grade copper mineralization. The results are highlighted by hole

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FC4885 that intersected 8.4 meters grading 4.02% copper and 6.9 meters grading

3.15% copper approximately 40 meters below the previously known deepest

intercept.

• At the NX Gold Mine, where seven exploration drill rigs are currently operating, drilling

is focused on infill and extensional drilling of the previously announced Santo Antonio

discovery (see press release dated April 18, 2019) in preparation of the Company’s updated

NI 43-101 compliant technical report and mine plan expected to be released during the

fourth quarter. Santo Antonio results during the period are highlighted by hole SA49 that

intersected 2.9 meters grading 30.33 grams per tonne gold.

Expansions and e xtensions as referenced herein reflect mineralization not captured in the

Company’s mineral resource and mineral reserve models used in the current NI 43-101 compliant

mineral resource and reserves. Currently, 26 drill rigs are operating within the Curaçá Valley and

seven drill rigs are operating at the NX Gold Mine.

VERMELHOS DISTRICT

The Vermelhos District is located approximately 80 kilometers to the north of the Pilar Mine and

Caraíba Mill complex and includes the operating high-grade Vermelhos Mine. Drilling is focused

on upgrading, expansion and new discovery initiatives within and immediately adjacent to the

Vermelhos Mine. In addition, drilling to evaluate regional targets identified during the Company’s

regional airborne survey and subsequent data compilation work of the broader Vermelhos system

– a north-south trend encompassing the Vermelhos Mine , East Zone and the N8 Deposit that

extends over 5.5 kilometers in strike length – is underway.

Thirteen drill rigs are currently operating in the district including 11 focused on resource upgrade

and exploration programs within and adjacent to the Vermelhos Mine, while two rigs are focused

on regional targets. Drill rigs in the District are comprised of three underground drill rigs and 10

surface drill rigs.

Vermelhos Main Orebody Expansions

While the majority of drilling performed at the Vermelhos Mine during the period was conducted

for purposes of upgrading previously defined mineral resources, stope definition and mine

planning, two recent drill holes resulted in a significant central expansion of the Toboggan orebody

as compared to previously modeled thickness. The results are highlighted by hole FVS -393 that

intersected 32.0 meters grading 8.12% copper including 13.0 meters grading 13.35% copper and

hole FVS-394 that intersected 28.1 meters grading 12.60% copper including 18.0 meters grading

15.62% copper. In addition to being amongst the highest grade-meter intercepts drilled by the

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Company in the Curaçá Valley to date, t he mineralized thicknesses of these intercepts are

significant as, together, they represent an approximate 40% increase in the modeled thickness in

the immediate area surrounding these holes as compared to the current mineral resource and

reserve estimate.

In addition, deeper drilling at Vermelhos based on new geological information, supported by

underground mapping, was undertaken immediately beneath the Toboggan orebody. The first hole

drilled in this program intercepted several mineralized lenses including significant massive

sulphide mineralization located approximately 70 meters below the known extent of the Toboggan

orebody in hole FVS-465 that inter sected 13.4 meters grading 5.86% copper from 306.3 meters

down hole. While the significance of any single d rill hole is limited, this is the first evidence of

massive-sulphide mineralization beneath the main Vermelhos orebodies and reinforces the

potential for additional high-grade massive-sulphide mineralization within the Vermelhos system.

Two underground dri ll rigs have started programs that will test for continuity of mineralization

beneath the main orebodies.

Please see Figure 1 for drill collar locations, Figure 2 for a north-south long section and Figure 3

for an east-west cross-section of the Vermelhos Mine and hole FVS-465.

Hole ID From (m) To (m) Length (m) Cu (%)

FVS-393 215.7 247.7 32.0 8.12

including 215.7 228.7 13.0 13.35

FVS-394 221.9 249.9 28.1 12.60

including 227.9 245.9 18.0 15.62

FVS-465 219.4 224.5 5.0 1.53

and 272.5 280.4 7.9 1.71

and 287.4 290.4 3.0 6.10

and 306.3 319.7 13.4 5.86

including 307.3 315.7 8.4 7.04

NSI indicates no significant intercept, based on cut -off grade of 0.68% copper. Drill holes were drilled from surface.

Holes not included are either pending assay results, have been included in a different section of this press release for

clarity of discussing drill results or were previously included in a prior press release. The length of intercep t may not

represent the true width of mineralization. Values may not add up due to rounding. From, to and mineralized intercepts

are rounded to the nearest tenth of a meter.

Vermelhos East Zone Extension

The Vermelhos East Zone discovery ( see press release dated September 25, 2018 for

announcement of the Vermelhos East Zone discovery) is located approximately 100 meters to the

east of mineralization comprising the main Vermelhos Mine orebodies and lies on the eastern side

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of an intrusive body. The zone of mineralization, to date, has been delineated from surface copper

oxide mineralization to an interpreted depth of approximately 500 meters below surface.

During the period, results from seven drill holes were received, four of which highlight extensions

of the Vermelhos East Zone . These results include the first results from three reverse circulation

(“RC”) holes drilled to the north-east of the Vermelhos Mine, primarily to conduct down-hole EM

surveys in the area, and two of these holes resulted in thick mineralized intercepts. The results are

highlighted by drill hole CRN7-141 that intersected 52.0 meters grading 0.80% copper. Please see

Figure 1 for collar locations and Figure 2 for a north-south long section of the Vermelhos Mine

including the Vermelhos East Zone.

Hole ID From (m) To (m) Length (m) Cu (%)

CRN7-139* NSI NSI NSI NSI

CRN7-140* 398.0 400.0 2.0 1.64

and 472.0 492.0 20.0 0.63

including 484.0 488.0 4.0 1.02

CRN7-141* 439.0 491.0 52.0 0.80

FVS-389 348.1 355.1 7.0 1.76

FVS-411 NSI NSI NSI NSI

FVS-417 NSI NSI NSI NSI

FVS-430 104.9 106.9 2.0 0.95

and 112.9 115.7 2.8 1.86

and 310.5 312.5 2.0 1.31

and 319.5 327.5 8.0 1.24

NSI indicates no significant intercept, based on cut-off grade of 0.68% copper. Drill holes were drilled from surface

except for hole FVS-430 which was drilled from level +245 in the Vermelhos Mine. Holes not included are either

pending assay results, have been included in a different section of this press release for clarity of discussing drill

results or were previously included in a prior press release. The length of intercept may not represent the true width

of mineralization. Values may not add up due to rounding. From, to and mineralized intercepts are rounded to the

nearest tenth of a meter. (*) indicates a RC drill hole.

PILAR DISTRICT

The Pilar District encompasses the area surrounding the Pilar underground mine, Caraíba Mill

complex and the past producing Pilar open pit and R22 Mines. Thirteen drill rigs, including eight

focused on resource upgrade and exploration programs within the P ilar Mine , are currently

operating within the District. These are comprised of eight underground drill rigs and five surface

drill rigs.

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During the period, t he Company’s ongoing historic data re-processing and targeting programs

identified significant mineralized intercepts in over 75 historic drill holes drilled beneath the

southern portion of the historic Pilar open pit mine in an area known as Baraún a. Confirmation

drilling was undertaken during the period to confirm the miner alization ahead of the Company’s

updated NI 43-101 compliant technical report and drilling remains ongoing.

Expansion and extensional drilling continued in a newly accessed area within the South Extension,

where a new zone of mineralization was identified during the period, and in the Deepening

Extension zone where a grouping of deep holes, including the deepest hole drilled in the Pilar Mine

to date, all returned high-grade copper intercepts.

Drilling on the West Limb during the period was focu sed on infill and short -term drilling of the

P1P2W mining area ahead of the Company’s NI 43-101 compliant technical report update .

Exploration drilling on the West Limb is expected to resume following completion of infill and

Baraúna confirmation programs. Currently, four surface drill rig s are undertaking exploration

drilling at Baraúna while four underground drill rigs are continuing to define the Deepening

Extension. The remaining four short -term core rigs are operating in the Deepening and P1P2W

mining areas, while one drill rig is targeting regional exploration targets within the Pilar District.

Baraúna Discovery

The Company’s ongoing historic data re-processing and targeting programs identified significant

mineralized intercepts in over 75 historic drill holes drilled beneath the southern portion of the

historic Pilar open pit mine . During the period, drilling was conducted to confirm the extent of

mineralization identified in the historic database with six confirmatory holes drilled into the newly

identified zone . To date, the zone has been delineated over a north -south strike length of

approximately 450 meters, varying thickness of up to 30 meters and from outcrop at the bottom of

the open pit connecting to mineralization at depth in the Pilar Mine – validation of the historic

database remains ongoing. For planning purposes, drilling of the zone is focused on an area that,

on average, extends 110 meters beneath the southern limit of the open pit mine . Drilling during

the period was performed from surface targeting mineralization beneath the southern portion of

the open pit mine. For reference, the pit floor is located approximately 230 meters below surface

at its deepest part.

Please see Figure 4 for collar locations and Figure 5 for a north-south long section of the Baraúna

zone.

Hole ID From (m) To (m) Length (m) Cu (%)

FC1724 343.9 353.4 9.5 1.52

including 343.9 349.3 5.4 2.08

and 382.3 385.3 3.0 0.92

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Hole ID From (m) To (m) Length (m) Cu (%)

and 392.3 395.2 3.0 0.81

FC1725 239.7 249.8 10.1 1.09

including 239.7 242.2 2.5 1.71

FC1821 267.5 274.0 6.5 0.78

FC2018 153.0 168.7 15.7 0.90

including 164.7 167.7 3.0 1.51

and 176.8 188.0 11.2 1.02

and 191.0 197.0 6.0 1.38

FC2019 253.9 265.2 11.3 1.23

including 255.3 260.2 4.9 1.66

and 269.2 315.2 46.0 1.18

including 304.2 313.2 9.0 1.92

FC2218 160.5 212.0 51.6 1.33

including 195.1 212.0 17.0 1.88

NSI indicates no significant intercept, based on cut-off grade of 0.18% copper reflecting the open pit potential. Drill

holes were drilled from surface. Holes not included are either pending assay results, have been included in a

different section of this press release for clarity of discussing drill results or were previously inclu ded in a prior press

release. The length of intercept may not represent the true width of mineralization. Values may not add up due to

rounding. From, to and mineralized intercepts are rounded to the nearest tenth of a meter .

South Extension

Within the Pilar underground mine, drilling of the South Extension from a newly accessed drill

station, has delineated a wide zone of mineralization previously modeled as narrow lenses at the

southern edge of the orebody. Drilling during the period resulted in a significant expansion of this

mineralized zone in both thickness and grade. Drilling from the new drill station continues to target

further expansion of this zone.

Please see Figure 6 for a north-south long section and Figure 7 for a level map show ing collar

locations of South Extension drilling within the Pilar Mine.

Hole ID From (m) To (m) Length (m) Cu (%)

FC3263 48.3 58.3 10.0 2.31

and 115.5 131.5 15.9 1.67

and 137.5 143.5 6.0 1.48

FC3264 86.2 107.2 21.0 1.41

including 93.2 97.2 4.0 3.54

and 117.2 127.2 10.0 1.32

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