ERO.TO · 2018-09-25 12:00:00

Ero Copper intersects 77 meters grading 2.20% copper in new discovery east of the Vermelhos Mine

Drill Results

TSX: ERO

Ero Copper Corp

SEPTEMBER 25, 2018 NR:18-12

Ero Copper intersects 77 meters grading 2.20% copper in new discovery east of the

Vermelhos Mine

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

provide a quarterly update on the ongoing exploration drill pro grams at its Pilar, Vermelhos and

Surubim mineral districts, all part of its 99.6% owned Vale do Curaçá Property located in Bahia

State, Brazil. This update encompasses drill results for new discoveries and extensions that were

not included in the Company’s recently announced National Instr ument 43-101, Standards of

Disclosure for Mineral Projects (“NI 43-101”) compliant mineral resource and reserve update (as

detailed in the Company’s press release dated September 5, 2018 ) (the “NI 43-101 Update”).

Significant new exploration results are highlighted below:

 A new discovery at the Vermelhos Mine highlighted by drill hole FVS-261 that intersected

76.7 meters grading 2.20% copper, including 15.0 meters grading 3.06% copper and 10.0

meters grading 5.74% copper. This intercept represents a new zo ne of mineralization

located east and approximately 140 meters below all previously defined mineral resources,

reserves and planned infrastructure at the Vermelhos Mine. To date, mineralization within

the new zone has been interpreted as a sub-vertical zone extend ing from surface (defined

by previously announced copper oxid e drill results) to approxim ately 400 meters below

surface, at an average distance of 100 meters east of the main Vermelhos orebodies. To

date, the zone has been intersected at depth by six holes over a total horizontal distance of

approximately 350 meters. The zone remains open to depth and a long strike. Drilling is

underway to evaluate the geological relationships between the n ew discovery, the main

Vermelhos orebodies and the newly announced Vermelhos West depo sit, located

approximately 1.1 kilometers north-northeast of the new discovery.

 Within the Vermelhos Mine’s main orebodies, drill results, high lighted by hole FVS-254

that intersected 19.3 meters grading 9.98% copper, hole FVS-275 that intersected 6.9

meters grading 10.74% copper and 5.3 meters grading 2.21% coppe r and hole FVS-307

that intersected 12.5 meters grading 5.25% copper, represent ex pansions as well as

extensions to the north and south, respectively, of the newly defined mineral resource and

reserve models used in the recent NI 43-101 Update.

“The significance of the new discovery on the east side of the Vermelhos Mine combined with

continued expansion and extensions to the north and south of the main Ve rmelhos orebodies is

that the results achieved to date are based upon the first meaningful exploration drilling

undertaken by the Company following the completion of infill drill programs during the first half

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Ero Copper Corp

of 2018. These new discoveries at Vermelhos, combined with the recently announced West Limb

discovery within the Pilar Mine, reaffirm our strong belief in the significant exploration potential

within our existing Pilar and Vermelhos mining opera tions. We will conti nue to focus on these

near-mine discoveries while we seek to advance high-priority regional exploration targets

highlighted by our recently completed airborne geophysical survey throughout the Curaçá Valley”

commented David Strang, President & CEO of Ero Copper.

VERMELHOS DISTRICT

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

Caraíba Mill complex and includes the high-grade Vermelhos Mine , where construction is now

complete and the mine is currently undergoing trial mining and test processing. Drilling at the

Vermelhos Mine has transitioned from programs focused primarily on upgrading mineral

resources and definition drilling for mine planning to near-min e extension and brownfield

discovery programs. Five drill rigs are currently operating within the District.

New Vermelhos Discovery

Three new drill holes have been drilled to test mineralization east of a north-south striking younger

granitic intrusion that, to date, has formed the eastern bounda ry of the main Vermelhos mineral

reserve orebodies. These drill holes, in conjunction with thre e previously drilled holes by the

Company, have identified a new zone located approximately 100 m eters to the east of all known

mineralization within the main Vermelhos orebodies and on the eastern side of the intrusion. The

new zone of mineralization extends from surface copper oxide mi neralization (see previously

announced oxide drill results as outlined in the Company’s press releases dated February 22, 2018

and June 6, 2018) to an interpreted depth of 400 meters below surface (approximately 140 meters

below the previously known extent of mineralization at the Vermelhos Mine) and has been defined

over a horizontal strike length of approximately 350 meters. The zone remains open to depth and

along strike. Drilling will continue to test extensions of thi s zone and evaluate the geological

relationship between the new discovery, the main Vermelhos oreb odies and Vermelhos West,

located approximately 1.1 kilomete rs north-northeast of the new discovery. Results of the new

discovery are shown below. Please see Figures 1 and 2 for coll ar locations and a cross section

highlighting the new discovery at Vermelhos.

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Ero Copper Corp

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

FVS-261 419.7 496.4 76.7 2.20

including 430.7 445.7 15.0 3.06

including 486.4 496.4 10.0 5.74

FVS-281 337.1 352.1 15.0 1.02

FVS-307 426.5 434.5 8.0 5.19

Previously Drilled Intercepts on Trend with New Discovery

FVS-103 467.0 484.0 17.0 2.24

and 578.0 592.0 14.0 0.79

FVS-106 430.0 444.0 14.0 3.07

FVS-111 440.4 463.4 23.0 1.55

Hole FVS-307 also intersected copper mineralization from 161.2 meters as part of the south extension of the main

Vermelhos deposit and the intercept is included in the table accompanying the discussion of the Vermelhos main

orebody extensions. 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. Holes FVS-103, FVS-106 and FVS-111 were drilled prior to the Company’s Initial Public

Offering and are included in the Company’s NI 43-101 Update.

Vermelhos Main Orebody Extensions

Subsequent to the effective date of the NI 43-101 Update, the results of 15 drill holes were received

that demonstrate extension and e xpansion of the mineral reserve models used in the NI 43-101

Update.

Extensions to the south are highlighted by hole FVS-251 that in tersected 11.7 meters grading

3.29% copper and drill hole FVS-307 that intersected 12.5 meter s grading 5.25% copper. These

intercepts are located approximately 40 and 100 meters south, r espectively, from the previously

known southern extent of mineralization at the Vermelhos Mine. Extensions to the north are

highlighted by hole FVS-270 that intersected 5.2 meters grading 1.86% copper and 6.0 meters

grading 2.37% copper, drilled approximately 25 meters north of the previous extent of

mineralization of the main Vermelhos orebodies.

In addition, hole FVS-275 that int ersected 6.9 meters grading 1 0.74% copper and 5.3 meters

grading 2.21% copper was drilled between the northern gap of the Tobogan and Sombrero zones

– the main high-grade orebodies at the Vermelhos Mine. Hole FV S-275 is significant as it

indicates the Tobogan and Sombre ro zones, previously modeled as discrete, separate orebodies,

may be a continuous zone of high-grade mineralization plunging to the north. Additional drilling

is underway to confirm continuity of high-grade mineralization down-plunge of this intercept.

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Ero Copper Corp

Central expansions within the main Vermelhos orebodies are highlighted by hole FVS-254, drilled

in the Sombrero zone, that intersected 19.3 meters grading 9.98 % copper including 14.3 meters

grading 13.14% copper and 20.3 meters grading 2.01% copper, reflecting a significant expansion

of the previously modeled mineralization in this zone. Please see Figure 1 for collar locations.

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

Expansion of Mineralized Zones within the Vermelhos Mine

FVS-232 68.9 71.9 3.0 1.43

FVS-233 130.7 139.4 8.7 0.80

and 167.0 178.1 11.2 1.12

FVS-237 151.6 154.8 3.2 1.30

FVS-240 67.7 71.2 3.5 12.40

FVS-249 50.0 60.0 10.0 1.06

and 122.4 125.8 3.4 1.40

FVS-254 116.7 136.0 19.3 9.98

including 121.7 136.0 14.3 13.14

and 161.8 182.2 20.3 2.01

FVS-255 156.7 161.8 5.2 1.53

and 190.4 199.3 8.9 1.15

FVS-267 156.1 162.1 6.0 0.71

and 216.9 222.3 5.4 0.69

FVS-273 95.4 99.8 4.4 1.48

and 147.8 161.6 13.8 1.10

and 165.2 173.0 7.8 2.04

FVS-280 197.4 201.6 4.3 5.98

and 214.7 218.5 3.9 5.84

and 226.1 228.9 2.7 7.13

North & South Vermelhos Extensions

FVS-251 152.3 164.0 11.7 3.29

and 389.7 395.7 6.0 0.97

FVS-270 196.1 201.3 5.2 1.86

and 211.8 217.8 6.0 2.37

FVS-275 194.6 201.5 6.9 10.74

and 243.3 248.6 5.3 2.21

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Ero Copper Corp

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

FVS-305 127.2 154.6 27.4 1.30

including 138.6 141.6 3.0 4.49

FVS-307 161.2 173.7 12.5 5.25

Hole FVS-307 intersected mineralization from 426.5 meters as part of the new discovery east of the Vermelhos

deposit (as highlighted earlier in this press release). This intercept is included in the table of new discovery results.

The 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.

The main orebodies remain open to the north, south and to depth and two of the five drill rigs

operating at Vermelhos will continue to evaluate their extensio ns. The remaining three drill rigs

will test the north-northeast trend of the new discovery and fu rther evaluate the geological

relationships between the main Vermelhos deposit, extensions of the main deposit to depth,

Vermelhos West and the new discovery east of the Vermelhos Mine.

PILAR DISTRICT

The Pilar District encompasses the area surrounding the Pilar u nderground mine, Caraíba Mill

complex and the past producing open pit Pilar and R22 Mines. T en drill rigs are currently

operating within the District.

Subsequent to the effective date of the NI 43-101 Update, expan sion and extensional drilling

occurred within the Pilar Mine at the Deepening Extension zone and the West Limb. Six

underground core rigs are operating in the Deepening Extension zone and one surface drill rig is

currently evaluating the extent of the newly discovered West Li mb (see the Company’s press

release dated May 17, 2018 for the announcement of the West Lim b discovery). One additional

surface rig and two additional underground drill rigs are currently targeting other areas of the mine.

West Limb

Exploration drilling at the West Limb is focused on infill, extension and twin-hole drilling of the

previously announced West Limb discovery. Subsequent to the eff ective date of the NI 43-101

Update, drilling has predominately focused on the area beneath the historic R22 open pit mine.

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Ero Copper Corp

Drilling has also begun to evaluate the extent of the West Limb to the south. Please see Figure 3

for collar locations.

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

FC5136 229.0 240.1 11.1 0.61

and 412.1 415.1 3.0 1.30

FC5139 295.1 322.5 27.4 0.97

including 296.1 311.1 15.1 1.20

and 331.5 336.5 5.0 1.22

and 349.3 365.3 16.0 0.94

The 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.

The Deepening Extension

The Deepening Extension drilling is currently targeting mineral ization on the East Limb of the

Pilar Mine between level -790 and level -1040 approximately 1,250 meters to 1,500 meters below

surface and approximately 100 meters laterally from the current level of the primary ramp

(completed to level -868). Subsequent to the effective date of the NI 43-101 Update, results for 8

holes were received that demonstrate extensions of the modeled mineralization within the zone.

Hole FC5137, drilled approximately 90 meters to the north of th e previously announced “Deep

Discovery” holes (see press release dated June 6, 2018), encountered higher grade mineralization

similar to copper grades encountered previously within the Deepening Extension to the north. The

balance of the current drill results in the Deepening Extension were drilled, on average,

approximately 300 meters south of the discovery holes and are c onsistent with the expected

distribution of copper grades within the zone and similar to the copper grades within the southern

limits of the Deepening Zone. The Deepening Extension drill pr ogram has been designed to

systematically drill from south to north and will continue to m ove towards the collar locations of

the higher-grade “Deep Discovery” holes and hole FC5137. The Deepening Extension results are

shown below (see Figures 4 and 5 for collar locations):

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

FC42237 177.3 181.3 4.0 1.37

and 225.4 240.7 15.3 0.85

FC42238 168.7 172.7 4.0 0.85

and 178.7 182.7 4.0 1.04

FC42240 139.3 153.9 14.6 0.98

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

FC42247 194.0 202.6 8.6 0.92

FC42248 264.0 274.6 10.6 1.80

and 297.9 302.9 5.0 1.07

FC44206 127.9 132.9 5.0 1.18

and 140.5 148.4 7.9 1.28

FC44211 297.8 303.8 6.0 0.95

and 344.9 351.2 6.3 1.19

FC5137 263.8 269.1 5.3 3.01

and 278.0 285.0 7.0 2.34

The drill holes were drilled from the -674, -709 and -722 level s. 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.

SURUBIM DISTRICT

The Surubim District is located approximately 40 kilometers to the north of the Caraíba mill

complex and comprises the Surubim open pit mine and past produc ing Angicos open pit mine.

Two surface drill rigs are operating within the Surubim District.

Drilling at the Surubim open pit mine has resulted in the continued expansion of mineralization to

depth. Subsequent to the effective date of the NI 43-101 Update, 5 drill holes were drilled resulting

in expansion or extension of modeled mineralization at Surubim.

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

FSEX-62 401.0 425.3 24.3 0.60

FSEX-64 350.3 359.4 9.1 1.92

including 352.0 357.2 5.1 3.05

FSEX-65 463.0 472.2 9.2 0.93

FSEX-66 236.4 245.7 9.3 0.52

and 286.0 327.2 41.2 0.71

including 287.0 295.0 8.0 1.25

FSEX-67 433.5 436.5 3.0 0.86

The 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.

REGIONAL EXPLORATION

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Ero Copper Corp

The Company has now completed its airborne electromagnetic and gravity geophysical survey of

the Curaçá Valley targeting high-grade mineralization. Data in terpretation and prioritization of

drill targets remains ongoing, and initial drill testing is underway.

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