ERO.TO · 2019-09-12 12:00:00

Ero Copper intersects 31.8 meters grading 2.22% copper including 5.0 meters grading 5.56% copper at the recently announced Siriema Discovery

Drill Results

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1 Ero Copper Corp

SEPTEMBER 12, 2019 NR:19-13

Ero Copper intersects 31.8 meters grading 2.22% copper including 5.0 meters grading 5.56%

copper at the recently announced Siriema Discovery

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 May

through to the end of August 2019. Exploration drilling during the period was focused primarily

on expanding recently announced discoveries as well as 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 for the Vale do Curaçá Property , expected to be

completed early in the fourth quarter of 2019.

HIGHLIGHTS

• High-grade massive sulphide mineralization continues to be encountered at the recently

announced Siriema discovery, highlighted by hole FSI -42 that intersected 31.8 meters

grading 2.22% copper including 5.0 meters grading 5.56% copper;

• Near-surface drillin g adjacent to the Vermelhos Mine in the Vermelhos East Zone

intersected 22.5 meters grading 4.60% copper including 8.0 meters grading 7.76% copper

from 7.7 meters down -hole in hole FVS -418, one of the highest-grade intercepts drilled

into the East Zone to date.

• A grouping of holes in the Deepening Extension of the Pilar Mine intercepted high-grade

mineralization, including the deepest known mineralized intercept drilled to date in hole

FC47139 that intersected 7.1 meters grading 6.50% copper including 4.1 meters grading

9.01% copper, approximately 80 meters below the previous known depth of mineralization

at the Pilar Mine.

• Underground drilling to further evaluate the southern extent of the Pilar Mine orebody

within the South Extension zone continues to intercept thick and high-grade mineralization,

highlighted by hole FC34100 that intersected 25.5 meters grading 1.47% copper including

2.0 meters grading 5.85% copper.

Twenty-seven drill rigs are now operating throughout the Curaçá Valley, including fifteen within

the Pilar District and twelve within the Vermelhos District. This includes two rigs operating at the

recently announced Siriema discovery and four rigs operating on regional targets within the Pilar

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and Vermelhos Districts. There are currently three additional drill rigs operating at the NX Gold

Mine.

SUMMARY

• Within the Vermelhos District, drill results during the period highlight the Company’s

ongoing efforts to extend the known limits of mineralization throughout the Vermelhos

System through further advancement of the recently announced Siriema discovery, drill

testing new high- grade zones beneath the N8 Deposit (formerly known as Vermelhos

West) and expanding the ongoing regional exploration efforts throughout the district.

o Drilling at the Company’s recently announced Siriema discovery continues to show

mineralized continuity within a higher -grade massive sulphide zone , with results

highlighted by hole FSI -42 that intersected 31.8 meters grading 2.22% copper

including 5.0 meters grading 5.56% copper. To date, Siriema has been interpreted

as a mineralized zone extending approximately 400 meters in strike -length,

approximately 20 to 50 meters in width, and from surface to a depth of

approximately 250 m eters. Mineralization at Siriema is hosted by multiple sub -

vertical mineralized lenses that remain open to depth and to the east. Drilling

continues to intercept a shallow-plunging east-dipping zone of high-grade massive-

sulphide breccia mineralization trending to the north-northwest. Follow-up drilling

as well as additional down -hole electromagnetic (“EM”) surveys along this

massive-sulphide zone is ongoing.

o Near-surface drilling of the Vermelhos East Zone during the period resulted in one

of the highest-grade intercepts drilled to date in to the zone in hole FVS-418 that

intersected 22.5 meters grading 4.60% copper including 8.0 meters grading 7.76%

copper from 7.7 meters down-hole. This intercept, along with deeper underground

drilling highlighted by drill hole FVS -432 that intersected 27.6 meters grading

1.95% copper and 7.0 meters grading 4.48% copper including 3.0 meters grading

8.02% copper approximately 450 meters from surface , demonstrate the extent of

the Vermelhos East Zone. To date, the zone has been interpreted as a series of

lenses extending from surface oxides to a depth of approximately 550 meters and

it remains open to depth and along strike.

o Recent drilling at the N8 Deposit focused on further extending the known limits of

the current mineral resource, targeting higher -grade mineralization below the

previously envisioned open pit mine. T o date, thicker and higher -grade

mineralization has been encountered at the southern end of the deposit , which

remains open to depth. The results in this area are highlighted by hole FV-146 that

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intersected 37.3 meters grading 0.73% copper including 3.0 meters grading 1.43%

copper and hole FV-147 that intersected 8.0 meters grading 1.64% copper including

3.0 meters grading 2.92% copper.

o Regionally within the Vermelhos District, exploration drilling continues to extend

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

Siriema, the N8 Deposit and additional high-priority regional targets located to the

north a nd south the Vermelhos Mine – a combined strike length of over 5.5

kilometers.

• Within the Pilar District, drilling during the period was focused on upgrade and exploration

programs within and adjacent to the Pilar Mine, including the recently announced Baraúna

discovery, located beneath the southern portion of the historic Pilar Mine . Four of these

drill rigs are testing regional targets within the Pilar District, including evaluating

mineralized extensions at the past producing Suçuarana Mine, located app roximately 25

kilometers south of the Pilar Mine.

o In the Pilar underground mine, re -prioritization of drilling in the Deepening

Extension zone continues to significantly extend the known extent of high- grade

copper mineralization within the zone. The results are highlighted by hole FC47142

that intersected 34.7 meters grading 2.29% copper including 18.6 meters grading

3.15% copper and hole FC47139 that intersected 7.1 meters grading 6.50% copper

including 4.1 meters grading 9.01% copper. Hole FC47139 is the deepest hole

drilled in the Pilar Mine to date , and the highlighted intercept is located

approximately 80 meters below the previously announced deepest intercept in hole

FC4885 (8.4 meters grading 4.02% copper and 6.9 meters grading 3.15% copper

as outlined in the Company’s press release dated June 20, 2019).

o Drilling within the Baraúna discovery continues to confirm the extent of

mineralization within the zone. To date, mineralization 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

below the bottom of the open pit. Drill results during the period are highlighted by

hole FC2326 that intersected 50.0 meters grading 1.81% copper including 24.0

meters grading 2.32% copper and hole FC2426 that intersected 53.4 meters grading

1.43% copper.

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o Within the Pilar underground mine, drilling targeting extensions of known

mineralization at the southern edge of the Pilar orebody from a new drill station

located on level -300, continued to intercept new mineralization within the South

Extension zone . This drilling has resulted in a significant expansion of known

mineralization within the zone, highlighted by hole FC34100 that intersected 25.5

meters grading 1.47% copper including 2.0 meters grading 5.85% copper and 6.0

meters grading 1.85% copper.

• At the NX Gold Mine, where three 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 ) as well as testing for continuity of the

Brás vein in preparation of the Company’s updated NI 43 -101 compliant technical report

and mine plan expected to be released during the fourth quarter.

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 (2018) NI 43-101

compliant mineral resource and reserves.

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 surrounding the Vermelhos

Mine. In addition to near -mine programs , drilling is underway 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, Siriema and the N8 Deposit that extends over 5.5 kilometers in strike length.

Twelve drill rigs are currently operating in the district including nine focused on resource upgrade

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

on regional targets, including the recently announced Siriema discovery. Drill rigs in the district

are comprised of three underground drill rigs and nine surface drill rigs.

Siriema

The recently announced Siriema discovery is the Company’s first regional discovery (see press

release dated July 30, 2019 for the announcement of the Siriema discovery) and is located

approximately 1.5 kilometers south of the Vermelhos Mine. To date, Siriema has been interpreted

as a mineralized zone extending approximately 400 meters in strike -length, approximately 20 to

50 meters in width, and from surface to a depth of approximately 250 meters. The zone is

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interpreted to contain multiple sub-vertical mineralized lenses that remain open to depth and to the

east. While the mineralization encountered to date is predominately disseminated, current drilling

targeting down-hole EM anomalies continues to intercept a shallow-plunging east-dipping zone of

high-grade massive-sulphide breccia mineralization trending to the north-northwest. Drilling along

this trend was highlighted during the period by drill hole FSI -42 that intersected 31.8 meters

grading 2.22% copper including 5.0 meters grading 5.56% copper . Follow-up drilling as well as

additional down-hole EM surveys along this massive-sulphide zone remain ongoing.

The majority of the holes drilled during the period reflect twin-holes of previously announced RC

drill results for NI43 -101 validation purposes. Please see Figure 1 for a map of the Vermelhos

System and Figure 2 for Siriema collar locations.

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

FSI-39 NSI NSI NSI NSI

FSI-41 NSI NSI NSI NSI

FSI-42 143.1 174.9 31.8 2.22

including 166.5 171.5 5.0 5.56

FSI-43 73.2 90.7 17.6 0.56

and 123.5 149.7 26.2 1.90

including 140.5 146.5 6.0 2.85

FSI-44 NSI NSI NSI NSI

FSI-45 39.4 74.7 35.2 0.91

including 68.7 73.7 5.0 1.20

and 96.8 103.1 6.3 0.35

FSI-46 62.2 141.0 78.8 0.31

FSI-47 NSI NSI NSI NSI

and 53.2 79.3 26.1 0.31

and 87.4 96.3 8.9 0.27

and 121.6 147.3 25.6 0.26

FSI-48 47.9 55.1 7.2 0.52

and 60.9 64.9 4.0 0.49

FSI-49 80.5 102.5 21.9 0.40

and 126.9 141.9 15.0 0.24

and 154.5 159.5 5.0 0.26

and 183.1 192.3 9.2 0.29

FSI-50 104.5 113.5 9.0 0.24

FSI-51 115.1 121.1 6.0 0.22

and 125.6 134.6 9.0 0.21

and 153.8 160.8 7.0 0.27

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

and 169.8 189.8 20.0 0.24

FSI-52 5.0 19.0 14.0 0.32

and 30.4 34.4 4.0 0.20

FSI-53 18.4 25.4 7.0 0.89

FSI-54 37.3 46.3 9.0 0.69

FSI-55 NSI NSI NSI NSI

NSI indicates no significant intercept, based on a three meter mining width and cut-off grade of 0.18% copper for

near-surface intervals and 0.68% for intervals below 200 meters down hole . Drill holes were drilled from surface.

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.

N8 Deposit

Drilling during the period at the N8 Deposit, previously referred to as “Vermelhos West” , was

focused on extending the known limits of the current mineral resource and delineating higher-

grade mineralization below the previously envisioned open pit mine. The southern end of the

deposit remains open to depth, where to date, thicker and higher -grade mineralization has been

encountered. New results in this area are highlighted by hole FV-146 that intersected 37.3 meters

grading 0.73% copper including 3.0 meters grading 1.43% copper and hole FV-147 that intersected

8.0 meters grading 1.64% copper including 3.0 meters grading 2.92% copper. The holes continue

to demonstrate that the deposit is open to the south and to depth. Hole FVS -146 was drilled

approximately 120 meters south of the limit of the previously envisioned open pit mine (and

approximately 85 meters below surface) while FVS-147 was drilled app roximately 250 meters

beneath the southern limit of the previously envisioned open pit mine.

Please see Figure 1 for a map of the Vermelhos System and Figure 3 for N8 Deposit collar

locations.

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

FV-134 NSI NSI NSI NSI

FV-135 NSI NSI NSI NSI

FV-136 190.6 208.0 17.4 0.40

FV-137 483.4 486.3 2.9 0.89

and 540.5 544.5 4.0 1.02

FV-138 NSI NSI NSI NSI

FV-140 580.6 583.6 3.0 1.19

and 588.4 598.4 10.0 0.89

including 588.4 592.4 4.0 1.21

FV-141 NSI NSI NSI NSI

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

FV-142 NSI NSI NSI NSI

and 273.1 292.1 19.0 1.56

FV-143 NSI NSI NSI NSI

FV-144 NSI NSI NSI NSI

FV-145 112.1 117.1 5.0 0.60

and 122.0 125.1 3.1 0.65

and 129.1 141.1 12.0 0.29

and 164.8 168.8 4.0 0.73

FV-146 92.3 112.0 19.7 0.76

including 92.3 102.8 10.4 1.09

and 120.7 158.0 37.3 0.73

including 152.5 155.5 3.0 1.43

FV-147 256.4 260.4 4.0 0.80

and 307.3 315.3 8.0 1.64

including 307.3 310.3 3.0 2.92

and 320.6 335.5 15.0 0.89

FV-148 268.7 281.7 13.0 1.07

and 284.7 288.7 4.0 1.14

and 302.8 306.2 3.4 1.13

NSI indicates no significant intercept, based on a three meter mining width and cut -off grade of 0.18% copper for

near-surface intervals and 0.68% for intervals below 200 meters down hole . Drill holes were drilled from surface.

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.

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

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, drilling of the Vermelhos East Zone focused on confirming near -surface

extensions of the modeled mineralization (below previously defined oxide mineralization) in

advance of the Company’s upcoming NI 43-101 compliant mineral resource and reserve update

and mine plan, as well as conducting underground drilling along the same structure at depth. Near-

surface drilling confirmed the presence of high-grade copper mineralization highlighted by one of

the highest-grade intercepts drilled into the zone to date in hole FVS-418 that intersected 22.5

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meters grading 4.60% copper including 8.0 meters grading 7.76% copper from 7.7 meters down-

hole. In addition, deeper underground drilling intercepted additional high-grade mineralization

within the zone including 7.0 meters grading 4.48% copper including 3.0 meters grading 8.02% in

hole FVS-432 from 357.2 meters down- hole. Additional drilling and follow -up down-hole EM

surveys in this area are planned to further evaluate the potential relationship between high-grade

intercepts within the zone.

Please see Figure 1 for a map of the Vermelhos System and Figure 3 for East Zone collar locations.

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

FVS-14 508.1 511.1 3.0 2.14

FVS-386 584.5 588.5 4.0 1.04

and 622.5 629.7 7.1 1.73

FVS-388 NSI NSI NSI NSI

FVS-411 NSI NSI NSI NSI

FVS-412 NSI NSI NSI NSI

FVS-413 166.3 201.0 34.7 0.74

including 195.5 201.0 5.5 1.46

FVS-415 NSI NSI NSI NSI

FVS-416 37.9 50.4 12.5 0.31

and 60.0 64.0 4.1 0.37

and 91.7 126.4 34.7 0.39

FVS-418 7.7 30.2 22.5 4.60

including 8.7 16.7 8.0 7.76

FVS-419 63.1 78.1 15.0 0.50

and 88.8 91.8 3.0 0.69

and 138.3 166.0 27.7 0.72

including 155.5 162.4 6.9 1.07

FVS-420 11.2 22.2 11.0 0.40

FVS-431 139.9 144.9 5.0 1.92

and 321.6 341.6 20.0 1.72

including 327.6 334.6 7.0 2.69

FVS-432 349.2 376.8 27.6 1.95

and 357.2 364.2 7.0 4.48

including 357.2 360.2 3.0 8.02

and 386.6 390.6 4.0 1.78

FVS-433 503.5 508.5 5.0 0.92

and 519.5 524.0 4.5 1.02

and 535.6 545.5 9.8 0.97

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