About Us Reserves and Resources

In 2017, we designed a detailed process for the preparation of technical reports required for the declaration of our mineral resources and mineral reserves in all of our mines and greenfield projects, which are in accordance with the standards set forth in Canada’s National Instrument (NI) 43-101 - Standards of Disclosure and the U.S. Securities and Exchange Commission (SEC) Industrial Guide (IG) 07. these technical reports are available on www.sedar.com and www.sec.gov

Mining Report¹

Nexa Resources announced in April 2018 the publication of its report with updated information relating to mineral reserves and resources as of December 31, 2017. Such report discloses estimated contained metal in the Proven and Probable Mineral Reserve categories in which the calculation was in accordance with the 2014 CIM (Canadian Institute of Mining. Metallurgy and Petroleum) Definition Standards, whose definitions are incorporated by reference in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) totaling an aggregate of contained metal in reserves of 3,897.2 thousand tonnes of zinc,  430.8 thousand tonnes of copper, 592.6 thousand tonnes of lead, 3,468,642 kilograms of silver and 2,919 kilograms of gold, representing an increase of 8.7% for zinc, 5.6% for copper, 6.6% for lead, 7.9% for silver and a 5.4% decrease in gold, in comparison to information provided in our previous publicly available technical reports.

Note: 1this text is part of the press release issued in conjunction with the release of 2017 20F and Mining Report

Mineral Reserves - NI 43-101
  Grade Contained Metal Content
Interest (1) Ownership (%) Class Tonnage Zinc Copper Silver Lead Gold Zinc Copper Silver Lead Gold
(Mt) (%) (%) (g/t) (%) (g/t) (kt) (kt) (kg) (kt) (kg)

Cerro Lindo Mine

80.16%

Proven 39.99 1.90 0.65 20.8 0.22   759.8 259.9 831,730 88.0 0
Probable 15.65 1.58 0.71 21.2 0.17   247.3 111.1 331,789 26.6 0
Subtotal 55.64 1.81 0.67 20.9 0.21   1,007.0 371.0 1,162,823 114.6 0

El Porvenir Mine

80.16%

Proven 9.50 3.06 0.18 54.5 0.96   290.8 16.9 517,916 91.1 0
Probable 12.64 3.34 0.21 51.1 0.93   421.5 26.3 645,898 117.4 0
Subtotal 22.14 3.22 0.19 52.6 0.94   712.3 43.1 1,163,814 208.5 0

Atacocha Mine (Underground)

72.94%

Proven 1.49 3.26 0.27 59.0 1.12   48.7 4.0 87,968 16.7 0
Probable 4.06 3.28 0.31 57.7 0.97   133.1 12.6 234,560 39.4 0
Subtotal 5.56 3.27 0.30 58.1 1.01   181.8 16.6 322,528 56.0 0

Atacocha Mine (Open Pit)

72.94%

Proven 6.87 0.94   35.6 1.10 0.29 64.3 0.0 244,369 75.6 2,002
Probable 7.48 0.95   36.0 1.16 0.12 71.3 0.0 269,215 87.0 916
Subtotal 14.36 0.94   35.8 1.13 0.20 135.6 0.0 513,583 162.6 2,919

Vazante Mine

100%

Proven 10.32 10.53   19.0 0.30   1,087.0 0.0 196,094 31.3 0
Probable 7.79 9.93   14.0 0.25   773.5 0.0 109,104 19.6 0
Subtotal 18.11 10.27   16.8 0.28   1,860.5 0.0 304,313 50.8 0

Total

Proven 68.17 3.30 0.41 27.5 0.44 0.03 2,250.5 280.8 1,878,076 302.6 2,002
Probable 47.63 3.46 0.31 33.4 0.61 0.02 1,646.8 150.0 1,590,565 290.0 916
Total 115.80 3.37 0.37 30.0 0.51 0.03 3,897.2 430.8 3,468,642 592.6 2,919

Notes:  1This table should be read in conjunction with the full report available herein.

2Mineral Reserves are reported using 2014 CIM Definition Standards and have an effective date of 31 December 2017.

3Mineral Reserves are also reported using IG-7 standards in our form 20-F.

Mineral Resources - NI 43-101
  Grade Contained Metal Content
Interest (1) Ownership (%) Class Tonnage Zinc Copper Silver Lead Gold Zinc Copper Silver Lead Gold
(Mt) (%) (%) (g/t) (%) (g/t) (kt) (kt) (kg) (kt) (kg)

Cerro Lindo Mine

80.16%

Measured 1.69 2.14 0.75 28.1 0.29   36.2 12.7 47,514 4.8 0
Indicated 2.06 1.48 0.61 23.7 0.20   30.5 12.6 48,867 4.2 0
Subtotal 3.75 1.78 0.67 25.7 0.24   66.7 25.3 96,435 9.0 0
Inferred 9.33 1.65 0.60 23.4 0.23   154.2 56.2 218,439 21.6 0

El Porvenir Mine

80.16%

Measured 3.65 3.89 0.27 77.9 1.33   142.1 9.9 284,104 48.5 0
Indicated 4.10 3.70 0.32 59.6 1.00   151.9 13.3 244,787 41.0 0
Subtotal 7.75 3.79 0.30 68.2 1.16   294.0 23.1 528,890 89.6 0
Inferred 14.62 4.24 0.33 61.4 0.94   620.1 48.9 897,329 137.8 0

Atacocha Mine (Underground)

72.94%

Measured 0.23 3.89 0.33 75.5 1.36   9.0 0.8 17,639 3.2 0
Indicated 0.84 3.60 0.32 59.7 1.13   30.3 2.7 50,184 9.5 0
Subtotal 1.07 3.66 0.32 63.1 1.18   39.3 3.4 67,823 12.7 0
Inferred 3.34 4.36 0.35 77.8 1.65   145.5 11.5 259,683 55.2 0

Atacocha Mine (Open Pit)

72.94%

Measured 2.17 1.21 0.05 26.7 0.83 0.25 26.3 1.1 58,045 18.0 540
Indicated 6.84 1.20 0.06 29.9 0.84 0.09 82.1 4.1 204,238 57.5 638
Subtotal 9.00 1.21 0.06 29.2 0.84 0.12 108.9 5.4 263,136 75.7 1,120
Inferred 1.64 1.16 0.04 33.9 1.11 0.06 19.0 0.7 55,601 18.1 102

Vazante Mine

100.00%

Measured 1.77 18.79   25.7 0.43   333.2 0.0 45,572 7.7 0
Indicated 0.32 16.50   16.9 0.33   52.3 0.0 5,356 1.1 0
Subtotal 2.09 18.44   24.4 0.42   385.6 0.0 50,928 8.7 0
Inferred 3.65 17.11   24.5 0.33   625.3 0.0 89,679 11.9 0

Morro Agudo Mine

100.00%

Measured 0.55 6.87     0.23   37.8 0.0 - 1.2 0
Indicated 5.88 4.16     1.11   244.3 0.0 - 65.6 0
Subtotal 6.43 4.39     1.04   282.1 0.0 - 66.8 0
Inferred 11.79 3.65     0.53   430.3 0.0 - 62.3 0

Aripuanã Project

68.47%

Measured 10.90 4.68 0.48 45.2 1.72 0.43 510.1 52.3 492,462 187.5 4,687
Indicated 10.90 4.83 0.18 44.0 1.82 0.36 526.5 19.6 479,273 198.4 3,924
Subtotal 21.80 4.76 0.33 44.6 1.77 0.40 1,037.7 71.9 971,844 385.9 8,720
Inferred 24.60 3.90 0.42 37.9 1.53 0.93 959.4 103.3 931,848 376.4 22,878

Shalipayco Project

60.12%

Measured 2.45 5.41   32.8 0.42   132.5 0.0 80,360 10.3 0
Indicated 3.84 5.74   42.1 0.44   220.4 0.0 161,664 16.9 0
Subtotal 6.29 5.61   38.5 0.43   352.9 0.0 242,039 27.0 0
Inferred 16.93 4.95   34.7 0.47   838.0 0.0 587,471 79.6 0

Magistral Project

80.16%

Measured 84.24   0.56 3.0     0.0 471.7 249,350 0.0 0
Indicated 121.08   0.50 3.0     0.0 605.4 358,397 0.0 0
Subtotal 205.32   0.52 3.0     0.0 1,067.7 607,747 0.0 0
Inferred 50.57   0.43 2.6     0.0 217.5 129,965 0.0 0

Hilarión Project

74.87%

Measured 27.40 3.71   35.6 0.79   1,016.5 0.0 975,440 216.5 0
Indicated 42.00 3.85   28.5 0.65   1,617.0 0.0 1,197,000 273.0 0
Subtotal 69.40 3.79   31.3 0.71   2,630.3 0.0 2,172,220 492.7 0
Inferred 37.50 3.73   29.8 0.65   1,398.8 0.0 1,117,500 243.8 0

Pukaqaqa Project

80.16%

Measured 107.30   0.43       0.0 461.4 - 0.0 0
Indicated 201.70   0.39       0.0 786.6 - 0.0 0
Subtotal 309.00   0.41       0.0 1,266.9 - 0.0 0
Inferred 40.10   0.34       0.0 136.3 - 0.0 0

Florida Canyon Zinc Project

48.90%

Measured 1.29 13.13   19.4 1.66   169.4 0.0 25,052 21.4 0
Indicated 1.97 11.59   17.9 1.45   228.3 0.0 35,283 28.6 0
Subtotal 3.26 12.20   18.5 1.53   397.7 0.0 60,343 49.9 0
Inferred 8.84 10.15   13.2 1.05   897.3 0.0 116,776 92.8 0

Caçapava do Sul Project

56.00%

Measured 4.90 1.52   10.0 2.11   74.5 0.0 49,000 103.4 0
Indicated 8.11 1.08 0.08 27.0 1.89   87.6 6.5 218,970 153.3 0
Subtotal 13.01 1.24 0.05 20.6 1.97   161.3 6.5 267,876 256.3 0
Inferred 13.25 0.86 0.12 21.0 1.94   114.0 15.9 278,250 257.1 0

Total

Measured 248.55 1.00 0.41 9.4 0.25 0.02 2,487.7 1,009.9 2,324,538 622.5 5,227
Indicated 409.64 0.80 0.35 7.3 0.21 0.01 3,271.2 1,450.8 3,004,018 848.9 4,562
Total 658.19 0.87 0.37 8.1 0.22 0.01 5,758.9 2,460.7 5,328,556 1,471.4 9,789
Inferred 236.16 2.63 0.25 19.8 0.57 0.10 6,201.9 590.3 4,682,540 1,356.5 22,980

Notes:  1This table should be read in conjunction with the full report available herein.

2Mineral Resources are reported exclusive of those Mineral Resources that were converted to Mineral Reserves, using 2014 CIM Definition Standards and have an effective date of Dec 31, 2017

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