Updated Mineral Reserves And Resources

VANCOUVER - Ero Copper Corp. reported the results of its 2021 updated National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) compliant mineral reserve and resource estimates on its 99.6% owned MCSA Mining Complex located in Bahia State, Brazil and its 97.6% owned NX Gold Mine, located in Mato Grosso State, Brazil. The updated mineral reserve and mineral resource estimates incorporate drilling activities and mining depletion on the properties through September 30, 2021.

David Strang, CEO, said, “Over the last year, the Deepening Extension Zone continued to exceed our own lofty expectations with respect to mineral reserve and resource size and quality. The demonstrated year-on-year growth in the high-grade superpod through our ongoing drill campaigns since 2018 highlights the potential of the zone, which remains open. These results support our decision in 2021 to undertake a larger redesign of the new external shaft. The redesign does require a greater upfront investment but will, over time, enhance the project's value and provide optionality over the long-term as we continue to look to increase overall production volumes from the Pilar Mine.

In addition to significant growth in the Deepening Extension Zone's mineral reserves and resources, drilling throughout the year at the Vermelhos Mine and throughout the broader Curaça Valley continued to deliver growth in overall mineral reserves and resources. These additions were more than sufficient to replace depletion during the year relative to our 2020 update, even as we increased our annual copper production rate.

At the NX Gold Mine, demonstrated extensions of the Santo Antonio Vein and Matinha Vein during the year both serve as further evidence of the intrinsic value and exploration potential of the broader land package surrounding the mine. In 2022, we will focus on extending mineralization within the Matinha Vein as we integrate it into our operations as an additional feed source for the mill.

"As a core tenet of our organic growth strategy, we are pleased to see our investment in exploration continue to generate a pipeline of high-return actionable growth projects across our portfolio. Looking ahead to 2022, our in- and near-mine exploration plans for the year include expanded drilling activities in the upper levels of the Pilar Mine in support of a two-mine system, extending the known limits of the high-grade Vermelhos Mine main orebodies to depth and continuing to define several growth projects throughout the MCSA Mining Complex and the NX Gold Mine."