As previously disclosed, Aura’s and Dundee Resources’ joint venture interest in the project will be held through an intermediate holding company (“Borborema Inc.”), and Dundee Resources will hold an indirect 20 percent equity interest in Borborema, Inc. as a result of the contribution of the shares of Big River previously held by Dundee Resources and a “top-up” cash subscription for shares in Borborema, Inc. of approximately US$2.5million.

Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation commented: “I am pleased to announce the closing of this transaction and for Dundee to participate directly in any future cash flows of this high-quality, development stage mining project in Brazil. We are delighted to work closely with respected partner Aura, an exceptional, responsible, and ESG-minded operator with a great deal of experience and success operating in Brazil to develop the fully-permitted Borborema Gold Project and we look forward to updating the market on progress and timelines as Borborema, Inc. moves into development and production. This is clearly a transformational transaction for Dundee, and we are looking forward to our evolution toward becoming an emerging gold producer.”