Exhibit 99.1

Nexa Resources S.A.

INFORMATION RELATING TO
MINERAL PROPERTIES

As of March 22, 2021

TABLE OF CONTENTS

NOTE TO READER REGARDING DISCLOSURE

This document contains certain disclosure relating to mineral properties of Nexa Resources S.A. (“Nexa Resources”, “Nexa” or the “Company”) that has been prepared in accordance with the requirements of Canadian securities laws. Unless otherwise indicated, all mineral reserve and mineral resource estimates included in this document have been prepared in accordance with the May 10, 2014 edition of the Canadian Institute of Mining, Metallurgy and Petroleum (or CIM) Definition Standards for Mineral Resources and Mineral Reserves (“2014 CIM Definition Standards”) and disclosed in accordance with National Instrument 43-101 – Standards of Disclosure for Minerals Project (“NI 43-101”).

Readers should understand that “inferred mineral resources” are subject to uncertainty as to their existence and as to their economic and legal feasibility. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

Descriptions in this document of our mineral properties were prepared in accordance with NI 43-101, as well as similar information provided by other issuers in accordance with NI-43101, and may not be comparable to similar information prepared in accordance with Sub-part 1300 of Regulation 1300that is present elsewere outside of this report.

Our mineral properties are comprised of: (a) material mineral properties, including three mines (Cerro Lindo, El Porvenir, and Vazante) and two material project (Aripuanã and Magistral); and (b) other mineral properties, including two mines (Atacocha and Morro Agudo) and a number of greenfield projects (Shalipayco, Hilarion, Pukaqaqa, Florida Canyon and Caçapava do Sul).

For the meanings of certain technical terms used in this document, see “Glossary of Certain Technical Terms”.

For a table summarizing the mineral reserve and mineral resource estimates prepared in accordance with NI 43-101 for our mines and projects, see “Summary of Information Concerning Mineral Reserves and Mineral Resources”.

For additional information regarding our mines and projects prepared in accordance with NI 43-101, see “Summary of Material Mineral Properties” and “Summary of Other Mineral Properties” below.

In light of the COVID-19 pandemic, Nexa created a Crisis Committee, which includes all executive officers of the Company, certain key general managers and personnel to carry out preventive procedures in its operations and offices. Nexa implemented several measures to help protect our employees, contractors and local communities and we are working in three main fronts: Health, Safety and People; Business Continuity and Stakeholders.

FORWARD-LOOKING STATEMENTS

This report includes statements that constitute estimates and forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or Securities Act, and Section 21E of the Securities Exchange Act, as amended, or Exchange Act. The words “believe,” “will,” “may,” “may have,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” “scheduled,” “forecasts” and similar words are intended to identify estimates and forward-looking statements. Estimates and forward-looking statements refer only to the date when they were made, and we do not undertake any obligation to update or revise any estimate or forward-looking statement due to new information, future events or otherwise, except as required by law. Estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements.

These statements appear in a number of places in this report and include statements regarding our intent, belief or current expectations, and those of our officers and employees, with respect to, among other things: (i) our future financial or operating performance; (ii) our growth strategy; (iii) future trends that may affect our business and results of operations; (iv) the impact of competition and applicable laws and regulations on our results; (v) planned capital investments; (vi) future of zinc or other metal prices; (vii) estimation of mineral reserves; (viii) mine life; and (ix) our financial liquidity.

Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them the activities of our competition, the future global economic situation, weather conditions, market conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the abovementioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements. Our estimates and forward-looking statements may be influenced by the following factors, including, among others:

In light of the risks and uncertainties described above, the events referred to in the estimates and forward-looking statements included in this report may or may not occur, and our business performance and results of operation may differ materially from those expressed in our estimates and forward-looking statements, due to factors that include but are not limited to those mentioned above.

These forward-looking statements are made as of the date of this report, and we assume no obligation to update them or revise them to reflect new events or circumstances. There can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

GLOSSARY OF CERTAIN TECHNICAL TERMS

C&F: cut-and-fill

concentration: The process by which crushed and ground ore is separated into metal concentrates and reject material through processes such as flotation.

D&F: drift-and-fill

development: The process of constructing a mining facility and the infrastructure to support the facility is known as mine development.

exploration: Activities associated with ascertaining the existence, location, extent or quality of a mineral deposit.

ha: hectares

km: kilometer

kt: thousand tonne

LOM: life of mine

m: meter

MASL: meters above sea level

mineralization: The process or processes by which a mineral or minerals are introduced into a rock, resulting in a potentially valuable or valuable deposit.

mine site: An economic unit comprised of an underground and/or open pit mine, a treatment plant and equipment and other facilities necessary to produce metals concentrates, in existence at a certain location.

Mt: million tonnes.

Mtpa: million tonnes per annum.

NSR: Net smelter return is the net revenue that the owner of a mining property receives from the sale of the mine’s metal/nonmetal products less transportation and refining costs.

open pit: Surface mining in which the ore is extracted from a pit. The geometry of the pit may vary with the characteristics of the ore body.

ore: A mineral or aggregate of minerals from which metal can be economically mined or extracted.

ounces or oz.: Unit of weight. A troy ounce equals 31.1034 grams. All references to ounces in this document are to troy ounces unless otherwise specified.

R&P: room and pilar

reclamation: The process of stabilizing, contouring, maintaining, conditioning and/or reconstructing the surface of disturbed land (i.e., used or affected by the execution of mining activities) to a state of “equivalent land capability.” Reclamation standards vary widely, but usually address issues of ground and surface water, topsoil, final slope gradients, overburden and revegetation.

refining: The process of purifying an impure metal; the purification of crude metallic substances.

skarn: Metamorphic zone developed in the contact area around igneous rock intrusions when carbonate sedimentary rocks are invaded by large amounts of silicon, aluminum, iron and magnesium. The minerals commonly present in a skarn include iron oxides, calc-silicates, andradite and grossularite garnet, epidote and calcite. Many skarns also include ore minerals. Several productive deposits of copper or other base metals have been found in and adjacent to skarns.

SLS: sublevel longhole stoping

tailings: Finely ground rock from which valuable minerals have been extracted by concentration.

tonne: A unit of weight. One metric tonne equals 2,204.6 pounds or 1,000 kilograms. One short tonne equals 2,000 pounds. Unless otherwise specified, all references to “tonnes” in this document refer to metric tonnes.

tpd: tonnes per day

VRM: vertical retreat mining

zinc oxide: A chemical compound that results from the sublimation of zinc (Zn-metal) by oxygen in the atmosphere. Zinc oxide is in the form of powder or fine grains that is insoluble in water but very soluble in acid solutions.

NI 43-101 and 2014 CIM Definition Standards:

Feasibility study: A comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments of applicable modifying factors, together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate, at the time of reporting, that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution to proceed with, or finance, the development of the project. The confidence level of the study will be higher than that of a pre-feasibility study.

Inferred mineral resource: That part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

Indicated mineral resource: That part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed. An indicated mineral resource has a lower level of confidence than that applying to a measured mineral resource and may only be converted to a probable mineral reserve.

Measured mineral resource: That part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity. A measured mineral resource has a higher level of confidence than that applying to either an indicated mineral resource or an inferred mineral resource. It may be converted to a proven mineral reserve or to a probable mineral reserve.

Mineral reserve: A mineral reserve is the economically mineable part of a measured and/or indicated mineral resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified. The reference point at which mineral reserves are defined, usually the point where the ore is delivered to the processing plant, must be stated. It is important that, in all situations where the reference point is different, such as for a saleable product, a clarifying statement is included to ensure that the reader is fully informed as to what is being reported. The public disclosure of a mineral reserve must be demonstrated by a pre-feasibility study or feasibility study.

Mineral resource: A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.

Modifying factors: Considerations used to convert mineral resources to mineral reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social, and governmental factors.

Preliminary economic assessment: A study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources.

Pre-feasibility study: A pre-feasibility study is a comprehensive study of a range of options for the technical and economic viability of a mineral project that has advanced to a stage where a preferred mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, is established and an effective method of mineral processing is determined. It includes a financial analysis based on reasonable assumptions on the modifying factors and the evaluation of any other relevant factors which are sufficient for a qualified person, acting reasonably, to determine if all or part of the mineral resource may be converted to a mineral reserve at the time of reporting. A pre-feasibility study is at a lower confidence level than a feasibility study.

Probable mineral reserve: The economically mineable part of an indicated, and in some circumstances, a measured mineral resource. The confidence in the modifying factors applied to a probable mineral reserve is lower than that applied to a proven mineral reserve.

Proven mineral reserve (proved mineral reserve): The economically minable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors.

Qualified person: An individual who: (a) is an engineer or geoscientist with a university degree, or equivalent accreditation, in an area of geoscience or engineering, relating to mineral exploration or mining; (b) has at least five years of experience in mineral exploration, mine development or operation, or mineral project assessment, or any combination of these, that is relevant to his or her professional degree or area of practice; (c) has experience relevant to the subject matter of the mineral project and technical report; (d) is in good standing with a professional association; and (e) in the case of a professional association in a foreign jurisdiction, has a membership designation that (i) requires attainment of a position of responsibility in his or her profession that requires the exercise of independent judgment; and (ii) requires (A) a favorable confidential peer evaluation of the individual’s character, professional judgement, experience, and ethical fitness; or (B) a recommendation for membership by at least two peers, and demonstrated prominence or expertise in the field of mineral exploration or mining.

SUMMARY OF INFORMATION CONCERNING MINERAL RESERVES AND RESOURCES

Mineral Reserves

The following table shows our estimates of Mineral Reserves prepared with an effective date of December 31, 2020 and in accordance with the 2014 CIM Definition Standards, whose definitions are incorporated by reference in NI 43-101, for the metals indicated per mine.

 

								Grade										Contained Metal
		Ownership				Tonnage		Zinc		Copper		Silver		Lead		Gold		Zinc		Copper		Silver		Lead		Gold
Interest (1)		(%)		Class		(Mt)		(%)		(%)		(g/t)		(%)		(g/t)		(kt)		(kt)		(koz)		(kt)		(koz)
Cerro Lindo Mine (2)				Proven		29.37		1.71		0.60		20.9		0.23		-		501.5		177.3		19,702		66.1		-
		80.16%		Probable		22.73		1.08		0.62		21.6		0.18		-		246.4		141.8		15,770		40.0		-
				Subtotal		52.10		1.44		0.61		21.2		0.20		-		747.9		319.1		35,472		106.1		-
Vazante Mine (3)				Proven		8.44		8.40		-		15.2		0.24		-		708.8		-		4,125		20.6		-
		100%		Probable		8.24		8.83		-		12.2		0.21		-		727.9		-		3,241		17.4		-
				Subtotal		16.68		8.61		-		13.7		0.23		-		1,436.7		-		7,367		38.0		-
El Porvenir Mine (4)				Proven		3.76		3.76		0.25		62.9		0.98		-		141.3		9.5		7,602		36.9		-
		80.16%		Probable		10.09		3.74		0.22		62.8		0.85		-		377.6		22.4		20,364		85.5		-
				Subtotal		13.85		3.75		0.23		62.8		0.88		-		518.9		31.9		27,966		122.4		-
Aripuanã Project (5)				Proven		10.08		3.74		0.31		36.0		1.39		0.29		376.7		31.3		11,676		140.1		94.5
		100%		Probable		13.42		3.60		0.21		32.9		1.33		0.33		483.1		28.4		14,211		178.9		141.5
				Subtotal		23.51		3.66		0.25		34.3		1.36		0.31		859.8		59.7		25,887		319.0		236.1
Total				Proven		51.65		3.35		0.42		26.0		0.51		0.06		1,728.3		218.1		43,105		263.7		94.5
				Probable		54.49		3.37		0.35		30.6		0.59		0.08		1,835.1		192.6		53,586		321.8		141.5
				Total		106.14		3.36		0.39		28.3		0.55		0.07		3,563.4		410.8		96,691		585.5		236.1

The qualified person for the Mineral Reserves estimate is Normand L. Lecuyer, P.Eng., a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd), employee.

Bulk density varies depending on mineralization domain.

Mineral Reserves are estimated at NSR cut-off values of US$33.56/t processed for SLS and US$49.90/t processed for C&F stoping. A number of incremental stopes (down to US$26.16/t NSR value) are included in the estimate.

Mineral Reserves are estimated using average long term metal prices of Zn: US$2,494.90/t (US$1.13/lb); Pb: US$1,956.00/t (US$0.89/lb); Cu: US$6,457.90/t (US$2.93/lb); Ag: US$16.85/oz with all costs in US dollars.

A minimum mining width of 5.0 m and 4.0 m was used for SLS stopes and C&F stopes respectively.

The qualified person for the Mineral Reserves estimate is Normand L. Lecuyer, P.Eng., a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd), employee.

Mineral Reserves are estimated at a cut-off NSR value of US$47.49/t processed.

Average Bulk density of 3.1 t/m³.

Mineral Reserves are estimated using average long term metal prices of Zn: US$2,494.90/t (US$1.13/lb); Pb: US$1,956.00/t (US$0.89/lb); and Ag: US$16.85/oz and a R$/US$ exchange rate of 4.84.

A minimum mining width of 4.0 m was applied.

The qualified person for the Mineral Reserves estimate is Steve Blaho, P. Eng., Roscoe Postle Associate Inc. (now a part of SLR Consulting Ltd), employee.

Average Bulk density of 3.12 t/m³.

NSR cut-off is calculated per zone and mining method. For C&F mining method, the values vary from US$59.75/t at Lower zone to US$63.37/t at Deepening zone. For SLS, the values vary from US$56.44/t at Lower zone to US$60.06/t at Deepening zone.

Mineral Reserves are estimated using average long term metal prices of Zn: US$2,494.90/t (US$1.13/lb); Pb: US$1,956.00/t (US$0.89/lb); Cu: US$6,457.90/t (US$2.93/lb); Ag: US$16.85/oz.

Minimum mining widths of 5.0 m were applied.

Mineral Reserves have an effective date as of September 30, 2020.

The qualified person for the Mineral Reserves estimate is Jason J. Cox, P.Eng., a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd), employee.

Mineral Reserves are reported within engineered stope outlines assuming the following underground mining methods: Longitudinal longhole retreat (bench stoping) and Transverse longhole mining (VRM). Dilution and mining recovery are considered.

Mineral Reserves are estimated at a break-even cut-off NSR value of US$45.00/t processed. Some incremental material with values between US$40/t and US$45/t was included.

Mineral Reserves are estimated using average long term metal prices of Zn: US$2,494.90/t (US$1.13/lb); Pb: US$1,956.00/t (US$0.89/lb); Cu: US$6,457.90/t (US$2.93/lb); Ag: US$16.85/oz and Au: US$ 1,538/oz.

A minimum mining width of 4.0 m was applied.

Mineral Resources

The following table shows our estimates of Mineral Resources (exclusive of Mineral Reserves) prepared with an effective date of December 31, 2020 (unless otherwise indicated below) and in accordance with the 2014 CIM Definition Standards, whose definitions are incorporated by reference in NI 43-101, for operation mines.

The following table shows our estimates of Mineral Resources (exclusive of Mineral Reserves) prepared with an effective date of December 31, 2020 (unless otherwise indicated below) and in accordance with the 2014 CIM Definition Standards, whose definitions are incorporated by reference in NI 43-101, for the zinc exploration projects.

The following table shows our estimates of Mineral Resources prepared with an effective date of December 31, 2020 (unless otherwise indicated below) and in accordance with the 2014 CIM Definition Standards, whose definitions are incorporated by reference in NI 43-101, for the copper exploration projects.

Notes:    The estimation of mineral resources involves assumptions as to future commodity prices and as to technical mining matters. Numbers and totals may not sum due to rounding. Mineral Resources are reported exclusive of those Mineral Resources that were converted to Mineral Reserves, and Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

The Qualified Person for the Mineral Resources estimate is Rosmery J. Cárdenas Barzola, P.Eng., MAusIMM CP (Geo), a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd), employee.

Mineral Resources are estimated at a NSR cut-off value of US$33.56/t for SLS and US$49.90/t for C&F.

Forecast long term metal prices used for the NSR calculation are: Zn: US$2,869.14/t (US$1.30/lb); Pb: US$ 2,249.40/t (US$1.02/lb); Cu: US$7,426.59/t (US$3.37/lb), and Ag: US$19.38/oz, and metallurgical recoveries are based on recovery curves derived from historical processing data.

A minimum mining width of 5.0 m and 4.0 m was used to create SLS and C&F resource shapes respectively.

Bulk density varies depending on mineralization domain.

The Qualified Person for the Mineral Resources estimate is Reno Pressacco, P.Geo., a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd) employee.

Mineral Resources are estimated at various NSR cut-off values appropriate to the mineralization style.

Forecast long term metal prices used for the NSR calculation are: Zn: US$2,869.14/t (US$1.30/lb); Pb: US$ 2,249.40/t (US$1.02/lb) and Ag: US$19.38/oz, and metallurgical recoveries are based on recovery curves derived from historical processing data. An average long-tern US$/BRL exchange rate of 4.84 was used.

Mineral Resources are reported within underground mining shapes with minimum mining width of 3.0 m for willemite mineralization.

Density was assigned based on rock type.

The Qualified Person for the Mineral Resources estimate is Rosmery J. Cárdenas Barzola, P.Eng., MAusIMM CP (Geo), a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd), employee.

Mineral Resources are estimated at NSR cut-off values of US$60.06/t for the Upper Zone, US$61.09/t for the Intermediate Zone, US$59.75/t for the Lower Zone, and US$63.37/t for the Mine Deepening Zone for C&F resource shapes.

Mineral Resources are estimated using an average long-term metal prices of Zn: US$2,869.14/t (US$1.30/lb); Pb: US$2,249.40/t (US$1.02/lb); Cu: US$7,426.59/t (US$3.37/lb); and Ag: US$19.38/oz, and metallurgical recoveries are based on recovery curves derived from historical processing data.

A minimum mining width of 4.0 m was used for C&F resource stopes.

Bulk density varies depending on mineralization domain.

The qualified person for the mineral resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo , a Nexa Resources employee.

Mineral resources are estimated at a NSR cut-off value of US$ 55.05/t for C&F mining method.

Mineral resources are estimated using an average long-term metal prices of Zn: US$2,869.14/t (US$1.30/lb); Pb: US$2,249.40/t (US$1.02/lb); and Ag: US$19.38/oz, and metallurgical recoveries are based on recovery curves derived from historical processing data.

A minimum mining width of 4.0 m was used for C&F resource stopes.

The Qualified Person for the mineral resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources are reported within optimized pitshell.

Mineral Resources are estimated at a NSR cut-off of US$19.46/t processed.

Mineral Resources are estimated using an average long-term metal prices of Zn: US$2,869.14/t (US$1.30/lb); Pb: US$2,249.40/t (US$1.02/lb); Au: US$1,768/oz; and Ag: US$19.38/oz, and metallurgical recoveries are based on recovery curves derived from historical processing data.

Density was assigned based on rock type.

The Qualified Person for the Mineral Resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo , a Nexa Resources employee.

Mineral Resources are reported within underground mining shapes.

The NSR cut-offs are calculated based on the LOM costs for each mine. Morro Agudo: US$ 37.95/t and Bonsucesso: US$ 46.22/t.

Mineral Resources are estimated using an average long-term metal prices of Zn: US$2,869.14/t (US$1.30/lb) and Pb: US$2,249.40/t (US$1.02/lb); and metallurgical recoveries are based on historical processing data.

A minimum thickness of 3.0 m was applied for Bonsucesso and 4.5 m for Morro Agudo underground.

Density was assigned based on rock type.

The Qualified Person for the Mineral Resources estimate is Sean Horan, P. Geo., a Roscoe Postle Associates Inc. (now a part of SLR Consulting Ltd), employee.

Mineral Resources have effective date as of September 30, 2020.

Mineral Resources are reported using a US$45/t cut-off value for transverse longhole mining and longitudinal longhole retreat areas and US$55/t cut-off value for C&F areas.

Forecast long term metal prices used for the NSR calculation are: Zn: US$2,869/t (US$1.30/lb); Pb: US$ 2,249/t (US$1.02/lb); Cu: US$7,427/t (US$3.37/lb); Au: US$1,768/oz, and Ag: US$19.38/oz.

The Qualified Person for the Mineral Resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources have an effective date as of December 31, 2018.

Mineral Resources are estimated at an NSR cut-off value of US$45 with metallurgical recovery of 88.0% for zinc and 77.5% for lead.

Mineral Resources are estimated using a long-term zinc price of US$3,034.28/t, lead price of US$2,529.54/t and silver price of US$21.58/oz.

A minimum mining width of 2.0 m was used.

The Qualified Person for the Mineral Resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources have an effective date as of December 31,2019.

Mineral Resources are estimated at a NSR cut-off value of US$35.00/t for SLS resource shapes for Hilarión deposit, and an NSR cut-off value of US$45.00/t for SLS resource shapes and US$50.00/t for Room and Pillar (R&P) resource shapes for El Padrino deposit.

Mineral Resources are estimated at average long-term metal prices of Zn: US$2,956.65/t (US$1.34/lb); Pb: US$2,303.14/t (US$1.04/lb); Cu: US$7,523.30/t (US$3.41/lb); and Ag: US$19.61/oz.

A minimum mining width of 3.0 m was used for Hilarión and El Padrino.

Bulk density varies depending on mineralization domain.

The Qualified Person for the mineral resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources have an effective date as of October 30, 2020.

Mineral Resources are reported using a cut-off values US$41.40/t NSR for SLS, US$42.93/t for C&F and US$40.61/t for R&P mine areas.

Forecast long term metal prices used for the NSR calculation are: Zn: US$2,816t (US$1.27/lb); Pb: US$ 2,249/t (US$1.02/lb) and Ag: US$19.40/oz.

The Qualified Person for the Mineral Resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources have effective date as March 17, 2017.

Mineral Resources are reported at a NSR cut-off value of US$13.25/t.

NSR metal price assumptions: Zn US$1.26/lb; Pb US$1.01/lb; Cu US$3.08/lb; and Ag US$21.78/oz.

A minimum thickness was not applied.

Mineral Resources are constrained by preliminary pit shells.

The Qualified Person for the Mineral Resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources have an effective date as of June 30, 2017.

Mineral Resources are reported using a 0.2% Cu cut-off grade for the material inside the pit shell design.

Mineral Resources are estimated based on metal prices of US$2.68 per lb Cu and US$18.94 per ounce Ag.

Density was assigned based on rock type.

The Qualified Person for the Mineral Resources estimate is José Antonio Lopes, B.Geo., MAusIMM (CP) Geo, a Nexa Resources employee.

Mineral Resources have an effective date as of July 31, 2017.

Mineral Resources were reported inside a preliminary Whittle pit using a 0.20% Cu block cut-off grade.

Mineral Resources are estimated using a copper price of US$2.59/lb and an exchange rate of US$0.80 to C$1.00.

SUMMARY OF MATERIAL MINERAL PROPERTIES

Mines

Cerro Lindo

The most recent NI 43-101 technical report with respect to Cerro Lindo is the technical report titled “Technical Report on the Cerro Lindo Mine, Department of Ica, Peru” with an effective date of December 31, 2020 (the “Cerro Lindo Technical Report”) prepared by RPA, now a part of SLR Consulting Ltd., in particular by: Rosmery J. Cardenas Barzola, P.Eng., Normand Lecuyer, P.Eng., Lance Engelbrecht, P.Eng., and Luis Vasquez, M.Sc., P.Eng. The Cerro Lindo Technical Report has been filed in accordance with NI 43-101, and is available, under Nexa’s SEDAR profile at www.sedar.com.

Project Description, Location and Access

Project Setting

The Cerro Lindo Mine is located in the Chavín District, Chincha Province, Ica Department of Peru´, approximately 268 km southeast of Lima and 60 km from the coast. The current access from Lima is via the paved Pan American Highway south to Chincha (208 km) and then via an unpaved road up the Topara´ River valley to the mine site (61 km). Internal roadways connect the various mine-site components. The approximate coordinates of the mine are 392,780m E and 8,554,165m N, using the UTM_WGS84 datum and the project site is located at an average elevation of 2,000 MASL.

Site Location Plan

Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements

All concessions are held by Nexa Resources Peru S.A.A. (Nexa Peru), a wholly-owned subsidiary of Nexa. As of December 31, 2020, Cerro Lindo consists of 68 mineral concessions covering an area of 43,750.19 ha, and one beneficiation concession covering an area of 518.78 ha. The concessions are located in the districts of Chavin, Lunahuana, San Juan de Yanac, Grocio Prado, Pueblo Nuevo and Pacaran, provinces of Chincha and Cañete, departments of Lima and Ica in Peru.

Nexa Peru currently holds surface rights or easements for the following infrastructure at Cerro Lindo: mine site, access road, power transmission line, and water pipeline for the mine, old and new power transmission lines to Cerro Lindo, desalination plant, water process plant, and the water pipeline from the desalination plant to the mine site. There is sufficient suitable land available within the mineral tenure held by Nexa Peru for tailings disposal, mine waste disposal and installations such as the process plant and related mine infrastructure.

As of December 31, 2020, Nexa Peru has a total of six water licenses, one for use of seawater, and the remaining five for ground water extraction. Cerro Lindo is not currently subject to third-party royalties.

Regional Mineral Tenure Plan

History

Artisanal-style mining of outcropping barite bodies for use by the oil industry began in the early 1960s. The Cerro Lindo deposit was discovered in 1967, during a colour anomaly reconnaissance program. Compañía Minera – Milpo S.A.A. (Milpo), a predecessor company to Nexa Peru, acquired the property in 1984. From 1984 to 2011, Milpo carried out geological mapping, geophysical surveys, geochemical sampling, drilling, and trenching over the property. In 2002, a feasibility study was completed and construction started in 2006. The Cerro Lindo Mine commenced production in 2007.

Since 2007, the Cerro Lindo Mine has produced a total of approximately 66.4 Mt of ore. The last three years mine production is shown in the table below:

Mine Production from Cerro Lindo (2018 - 2020)

Production in 2020 was significantly lower than in 2019 due to the effects of the COVID-19 pandemic and associated production interruptions. On March 15, 2020, the Peruvian Government declared a national emergency and imposed operating business restrictions including on the mining sector. The quarantine period was initially expected to last until the end of March 2020 but was subsequently extended up to May 10, 2020. In light of the imposed restrictions, Nexa suspended production at Cerro Lindo. During this period, mining activities were limited to critical operations with a minimum workforce to ensure appropriate maintenance, safety, and security. On May 6, 2020, the Peruvian Government announced the conditions for the resumption of operations for different sectors, including mining operations above 5,000 tpd. As a result, Cerro Lindo operations, which were suspended on March 18, 2020, restarted production on May 11, 2020, following the end of the quarantine period. After the resumption of operations, Cerro Lindo ramped up production to pre-pandemic levels by the end of 3Q20.

Geological Setting, Mineralization and Deposit Types

The Cerro Lindo deposit is located in a 30 km by 10 km northwest trending belt of marine volcano-sedimentary rocks of the Middle Albian to Senonian (mid-Cretaceous) Huaranguillo Formation, belonging to the Casma Group, which is located within Tertiary intrusions of the Coastal Batholith. The Huaranguillo Formation fills the Canete volcano-sedimentary basin, one of the several similar basins that form the Casma Metallotect at the western side of the Andean Cordillera Occidental. In addition to Cerro Lindo, the Casma Metallotect hosts a number of important volcanogenic massive sulphide (VMS) deposits, including Tambogrande, Perubar, Potrobayo, Totoral, Maria Teresa, Aurora Augusta, and Palma.

The Cerro Lindo deposit is a Kuroko-type VMS deposit. Mineralization is hosted in a pyroclastic unit composed of ash and lapilli-type polymictic tuffs of the Huaranguillo Formation. The deposit comprises lens-shaped, massive and stringer zones composed of pyrite, sphalerite, galena, chalcopyrite, and barite. The mineralization has characteristic zoning from zinc-rich to pyrite-rich and associated sericitic-pyritic alteration and consists of at least 10 discrete mineralized zones.

The mineralization has been divided into 19 mining production areas, which are termed OB-1, OB-2, OB-2B, OB-3-4, OB-5, OB-5B, OB-5C, OB-5D, OB-6, OB-6A, OB-6B, OB-6C, OB-7, OB-8, OB-9, OB-10, OB-11, OB-12, OB-13 and OB-14. The mineralized lenses exhibit an irregular elongated geometry, and their longest axis (nearly 500 m) has a northwest-southeast horizontal trend (azimuth 135°). The mineralized bodies are approximately 300 m thick and 100 m wide and generally dip to the southwest at 65° on average. The location of the known mineralized bodies with the mining production area shown in the figure below.

Mineralized Bodies

Exploration

Twenty exploration targets were identified from the integrated assessment of exploration data recorded to date. Targets have been ranked and prioritized using a variety of metrics comprising various geological attributes and modifying factors that have been customized for the mineralization styles most likely to be encountered on the property.

Exploration work was temporarily suspended from March to June 2020 due to the COVID-19 pandemic. After this period, the exploration program restarted and has been focused on the extensions of known orebodies and exploratory drilling to find new mineralized zones, primarily to the north and southeast of Cerro Lindo.

The 2020 exploration diamond drilling confirmed the continuity of OB-5B, OB-13 and, OB-14 (previously named OB-8A). Also in 2020, as a result of geophysical and geological data integration, a new regional litho-sctrutural model and a 3D geophysical model, highlighting the Cerro Lindo deposit as a conductivity and chargeability anomaly, allowed the definition of seven new targets. Interpretations and analysis of the models are continuously updated as new information is incorporated from new holes, and more discussion forums are held.

Regional Exploration Targets

In 2020, Nexa spent a total of US$4.1 million in exploration, primarily associated with diamond drilling, geochemistry analysis and geological research works. The budget for 2021 is estimated at US$7.1 million for mineral exploration activities.

The exploration activities planned for 2021 include 35,100 m of diamond core drilling focused on defining inferred mineral resources at six different targets. Work will also include an airborne geophysical VTEM survey, for all the exploration targets, 1:2,000 scale geological surface mapping for Pucasalla, Pucatoro, and Orcocobre over a total of 900 ha, and a geochemical gas sampling survey with 45 collectors, which aims to identify deeply buried mineral deposits, similar to Cerro Lindo, covered by volcanic rocks up to 300 m in depth.

Drilling

During 2020, although the drilling exploration activities were resumed along the period in which mandatory lockdown were in place due to the COVID-19 pandemic, the new social distancing measures at facilities and camps, the drilling activities restarted in mid-June and Nexa completed approximately 60.4 km of diamond drilling, divided between exploration and infill drilling. By the end of 2020, Nexa drilled 23.2 km in 62 drill holes from the exploratory program and the remaining focused in the infill drilling program. The brownfield drilling program confirmed the continuity of the northwest mineralization of OB-13 and the continuity of mineralization in the upper zones of northwest and southeast extensions of OB-5. In orebody OB-14, mineralization was confirmed between 1,800 and 1,900 mine levels showing continuity to the southeast. These bodies are located in the mineralized volcanic system and all of our newly discovered mineralization are located in the south of the Topará River.

During 2021, Nexa expects to complete a total of 35.1 km as part of its exploratory drilling program. The objective is to continue drilling towards the OB-14, OB-8, OB-9, OB-6 and OB-12 projections in order to define the continuity of the deposit and to start underground drilling at the Pucasalla Este and Patahuasi-Millay targets and the surface drilling at the Pucasalla target in March 2021.

In addition to the exploration program, the mining geology team plans to drill an additional 48 km with a goal of upgrading Inferred Mineral Resources to Indicated or Measured Resources (recategorization drilling) and ultimately convert them into Probable Mineral Reserves or Proven Mineral Reserves, and for mine planning purposes (infill drilling).

Sampling, Analysis and Data Verification

Several sample types have been collected as part of the production cycle to form part of the database, including underground channel, longhole sampling, core sampling, density and geotechnical sampling. Drill-hole and channel sample spacing is considered adequate for the type of deposit. Sample collection and core handling are in accordance with industry standard practices.

Quality assurance (QA) consists of evidence to demonstrate that the assay data has precision and accuracy within generally accepted limits for the sampling and analytical method(s) used in order to have confidence in the resource estimation. Quality control (QC) consists of procedures used to ensure that an adequate level of quality is maintained in the process of sampling, preparing, and assaying the drill core samples. In general, QA/QC programs are designed to prevent or detect contamination and allow analytical precision and accuracy to be quantified. In addition, a QA/QC program can disclose the overall sampling – assaying variability of the sampling method itself.

At Cerro Lindo, QC samples have been inserted into the sample stream since 1996 and channel samples since 2012. The mine routinely sends in-house certified reference materials (CRMs), blanks, field (twin), coarse reject, and pulp duplicates, and external checks for analysis. Prior to Nexa’s drilling campaigns, standard reference materials (SRM) were used, however, during 2017, Nexa replaced SRMs with CRMs.  No SRMs or blanks were submitted during the 1999-2001 Phase 1 drilling campaign. In 2018, Nexa incorporated systematic external checks into the QA/QC program, and pulps have since been sent to external laboratories for analysis. Currently, Inspectorate Lima analyzes samples from infill drilling and Certimin and ALS Lima analyze samples from brownfield exploration drilling.

Mineral Processing and Metallurgical Testing

The current LOM plan continues to 2029. Test work on ore type, production blend and variability samples supported the plant designs, and included a full suite of comminution tests, flotation test work, and penalty element analysis.

Metallurgical parameters for the concentrator are well understood, and optimization and plant control is supported by ongoing research and development metallurgical testing on samples of ore mainly based on: hardness work index, mineral flotation kinetics, flotation reagent scheme evaluation, flotation kinetics, grind sensitivity, mineralogy and routine circuit evaluations.

Analysis of historical production shows that recoveries of Cu, Pb, and Zn are related to their head grades, while Ag recoveries to the copper and lead concentrates tend to follow the Cu and Pb head grades. Average LOM planned head grades of Cu, Pb, and Ag for the next three years are similar to those experienced from 2016 to 2020 at 0.60%, 0.21%, and 0.58 oz/t, respectively, while the planned head grades of Zn decrease steadily from 1.8% after 2020. Head grades towards the end of the LOM are anticipated to decrease, particularly those of zinc. Forecast recoveries and concentrate grades are initially in line with those of recent years, and then predicted to fall as head grades decrease.

The Cerro Lindo concentrates are relatively clean and high grade, and in general do not contain penalizable concentrations of deleterious elements. A small penalty does result from the lead and zinc in the copper concentrate, which since 2016 has contained lead and zinc in the approximate range of 4.8% to 5.6%. Silver in the feed is mostly recovered from the copper and lead concentrates, resulting in silver credits for these two concentrates.

Cerro Lindo Polymetallic Circuit, Metallurgical Performance (2018 - 2020)

Mineral Resource Estimate

The Mineral Resource estimate dated December 31, 2020 is reported using the 2014 CIM Definition Standards. The mineral resource estimate was completed using Datamine Studio RM and Leapfrog Geo software. Wireframes for geology and mineralization were constructed in Leapfrog Geo based on geology sections, assay results, lithological information, underground mapping, and structural data. Assays were capped to various levels based on exploratory data analysis and then composited to 2.5 m lengths. Wireframes were filled with blocks sub-celled at wireframe boundaries. Blocks were interpolated with grade using the ordinary kriging (OK) and inverse distance cubed (ID³) interpolation algorithms. Block estimates were validated using industry standard validation techniques. Classification of blocks used distance-based and other criteria. The mineral resource estimate was reported using all the material within resource shapes generated in Deswik Stope Optimizer (DSO) software, satisfying the minimum mining size, continuity criteria, and using a NSR cut-off value of US$33.56/t for SLS resource shapes and US$49.90/t for C&F resource shapes. NSR cut-off values for the mineral resources are based on a zinc price of US$2,869.14/t (US$1.30/lb), a lead price of US$2,249.40/t (US$1.02/lb), a copper price of US$7,426.59/t (US$3.37/lb), and a silver price of US$19.38/oz.

Mineral Reserve Estimate

The Mineral Reserves estimate dated December 31, 2020 is reported using the 2014 CIM Definition Standards and was based on costs and modifying factors from the Cerro Lindo Mine. Mining methods include SLS for the majority of the mineral reserves, and some sill pillar recovery using C&F methods. Mineral reserves were reported using an NSR cut-off values of US$33.56/t processed and US$49.90/t processed for SLS and C&F, respectively. A number of incremental stopes (down to US$26.16/t NSR value) are included in the estimate, a minimum mining width of 5.0 and 4.0 meters, considering SLS and C&F methods respectively and, inclusive of recovery losses and dilution. The NSR cut-off value is determined using the mineral reserve metal prices, metal recoveries, concentrate transport, treatment, and refining costs, as well as mine operating cost. Metal prices used for mineral reserves are based on consensus, long term (ten years) forecastsand are in line with independent forecasts from banks, financial institutions, and other sources. Mineral reserves are estimated using average long-term metal prices of zinc: US$2,494.90/t (US$1.13/lb); lead: US$1,956.00/t (US$0.89 /lb); copper: US$6,457.90/t (US$2.93/lb) and silver: US$16.85/oz with all costs in dollars.

Mining Operations

Mining Methods

Cerro Lindo has been operating since July 2007, recently at rates exceeding 7 Mtpa. The main mining method utilized is sub-level longhole stoping with sub-level intervals of up to 30 m in height. The mine is mechanized, using rubber-tired equipment for all development and production operations. Mining is carried out in ten separate orebodies, using large longhole stoping methods, in a primary/secondary/tertiary sequence. Stopes are backfilled with a low-cement content paste fill made from flotation tailings.

The highest operating level is the 1,970 m level, the lowest operating level is the 1,550 m level, and the ultimate bottom level is planned to be the 1,490 m level. Mine access is through 15 portals servicing adits, drifts, and declines. The majority of the ore is delivered to grizzlies on the 1,830 m level that feed the jaw crusher installed on the 1,820 m level. Crushed ore is delivered to the surface stockpile via inclined conveyor through a portal at the 1,940 m level. From the surface stockpile, ore is delivered to the concentrator via a system of inclined overland conveyors.

The Cerro Lindo Mine does not produce any significant quantities of water and exploration drilling to date has not intersected any water-bearing structures that could introduce major inflows into the mine.

Processing and Recovery Operations

The Cerro Lindo processing plant is located on a ridge adjacent to the mine and is at an altitude of 2,100 to 2,200 MASL. The plant commenced operations in 2007 with a processing capacity of 5,000 tpd, however, has since been expanded to a name-plate capacity of 21,000 tpd. Processing consists of conventional crushing, grinding, and flotation to produce separate copper, lead, and zinc concentrates. The tailings are thickened and filtered for use as backfill or trucked to the dry stack tailings storage facility.

Filtered lead, copper and zinc concentrates are transported by road to the Port of Callao for sale in the case of lead and copper concentrates, and to Nexa Cajamarquilla’s zinc refinery for the treatment of zinc concentrate.

Final tailings consist of zinc scavenger tails. The tails are directed to the tails thickener. The thickened underflow is divided, with a portion going to the paste-backfill plant, and the remainder going to the dry-stack tailings filtration plant. The split ratio between tailings to paste backfill and dry stack tailings is approximately 50:50.

Water is supplied from a desalination plant located at the coast, with a production capacity of 60 L/s, and is pumped 60 km to the mine site. This is sufficient to supply the requirements for make-up water and potable water (treated at the mine site). Most of the processed water required is recovered from tailings thickening and filtration and is returned to the three 3,600 m³ water storage tanks. Approximately 90% of total tailings water is recovered and recycled to the plant as process water.

Cerro Lindo Simplified Overall Process Material Flow Diagram

Infrastructure, Permitting and Compliance Activities

Project Infrastructure

All key infrastructure required for mining and processing operations is constructed. This includes the underground mine, access roads, powerlines, water pipelines, desalination plant, offices and warehouses, accommodations, process plant/concentrator, conveyor systems, waste rock facilities, temporary ore stockpiles, paste-fill plant, and the dry-stack tailings storage facilities.

Access to the mine site is via paved highway to Chincha (180 km from Lima), followed by a 60 km unpaved road. The unpaved road covers a significant gain in elevation and has a number of narrow sections that restrict speeds for heavy haulage. Nexa maintains rest stops at wide areas and enforces safe speed limits on employees and contractors.

Electrical power is provided to the mine is supplied via the National Grid. The overall site demand to sustain a production rate of 20,800 tpd is approximately 36.5 MW. The mine has a backup generator to support the main ventilation system.

There is no fresh water withdrawal from natural water bodies at the Cerro Lindo Mine site, and the mine obtains very little water from the underground mine workings. Approximately 40% of total demand is extracted from five local groundwater wells/boreholes. The remaining 60% of industrial fresh water is supplied from a desalination plant located on the coast. The pumping system from the desalination plant is divided into three stages to transport the water approximately 45 km to an elevation of 2,200 m. Three pump stations are located along the six-inch pipeline route from the desalination plant to the mine site.

Service water is primarily used underground for drilling water, cooling, dust control, and concrete/shotcrete service. Service water is provided from a central plant-wide source and distributed underground via a system of pipelines to all working areas. Service water is collected and pumped to the surface where it is treated for re-use. The following figure is a site layout plan.

Site Layout Plan of Infrastructure

Environmental, Permitting and Social Considerations

The most recent modification of the Environmental Impact Assessment was approved by the Peruvian authorities in 2018 (“2018 EIA”)_to grant authorization for a maximum production rate of 22,500 tpd. Cerro Lindo has an EMP, which addresses mitigation measures and monitoring programs for industrial and domestic effluent discharges, surface water quality and sediment, groundwater quality, surface flow, air quality (particulate matter and gas emissions), non ionizing radiation, noise, vibrations, soil quality, terrestrial and aquatic flora, and terrestrial and aquatic fauna. The most recent update of the environment plan was presented in the 2018 EIA.

Tailings from the process plant are thickened and then further dewatered in either the paste plant to be deposited underground, or to the filter plant to the south of the processing plant to be filtered and subsequently placed in two dry-stack storage facilities, Pahuaypite 1 and Pahuaypite 2. As much as 90% of the process water from dewatered tailings is recycled with industrial fresh water being supplied from a desalination plant at the coast to meet site and process water make-up requirements. The mine site operates with a zero-water discharge commitment.

A formal Mine Closure Plan was prepared in 2009 for the mine components within the context of the Peruvian legislation and has subsequently been amended or updated four times. The Mine Closure Plan addresses temporary, progressive and final closure actions, and post-closure inspection and monitoring.

Nexa adheres to international standards to provide best practices for public reporting on economic, environmental, and social impacts in order to help Nexa and its shareholders and stakeholders understand their corporate contribution to sustainable development. The Company has an integrated management system that establishes the guidelines that govern the conduct of the businesses, with a focus on quality management of environmental, health, and workplace safety and social responsibility issues. In addition, the Company follows applicable environmental laws and regulations pertaining to its business in each country where it operates.

Cerro Lindo holds a number of permits in support of the current operations. The permits are Directorial Resolutions issued by the Peruvian authorities upon approval of mining environmental management instruments filed by the mining companies. Nexa maintains an up to date record of the legal permits obtained to date. Nexa uses an ISO 14001 compliant environmental management system at Cerro Lindo to support environmental management, monitoring and compliance with applicable regulatory requirements during operation.

Vazante

The most recent NI 43-101 technical report with respect to Vazante is the technical report titled “Vazante Polymetallic Operations, Minas Gerais State, Brazil, NI 43-101 Technical Report on Operations” with an effective date of December 31, 2020 (the “Vazante Technical Report”) prepared by RPA (now a part of SLR Consulting Ltd), and in particular: Reno Pressaco ,M.Sc. (A) P.Geo., Normand L. Lecuyer, P.Eng.,ing., Lance Engelbrecht, P.Eng., and Luis Vasquez, M.Sc.,P.Eng. The Vazante Technical Report has been filed in accordance with NI 43-101, and is available, under Nexa’s SEDAR profile at www.sedar.com.

Project Description, Location and Access

Project Setting

The Vazante Operation is located in the western portion of the state of Minas Gerais, Brazil at a latitude of approximately 17 57’ 33” S and a longitude of approximately 46° 49’ 42” W, within Zone 23S of the Universal Transverse Mercator coordinate system (Corrego Alegre Datum) at approximately 306,000m E and 8,016,000m N. The Vazante Operation is located approximately 8.5 km east of the town of Vazante, 253 km southeast of Brasilia and 370 km northwest of Belo Horizonte.

Project Access Plan

Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements

Nexa Recursos Minerais S.A. (“Nexa Brazil”) and Mineração Soledade Ltda, a subsidiary of Nexa Brazil, own the Vazante project. There are two mineral rights held by Vale S.A., which are subject to a joint venture agreement. The mineral rights are divided into core tenements, where the known mineral deposits are located and mining operations are occurring, and the surrounding exploration areas.

The Company holds two mining concessions and one group of mine concessions in the core area that have a total area of 2.091,10 hectares. The group of mine concessions comprises six mining concessions, totalling an area of 819.54 hectares. The mineral resources and mineral reserves are located within the limits of seven mining concessions with an area of 1,864.6 hectares, which host the active mining operations. One mining concession (tenement # 14.840/1967), which is part of the group of mining concessions, has a potential to host zinc and lead mineralization, however, does not yet have any mineral resources and mineral reserves associated with it.

Nearby the main area, Nexa Brazil also holds 62 exploration licenses totalling 50,076.8 hectares, two right to apply for mining concession totalling 374.22 hectares, one mining application totalling 189.98 hectares and one mining concession totalling 52.5 hectares, in addition to the core tenements.

The Company holds surface rights sufficient to support the current operations. Some surface rights agreements require annual payments to the owners. Three easements have been granted in support of mining activities. There is sufficient suitable land available within the mineral tenure held by the Company for tailings disposal, mine waste disposal, and installations such as the process plant and related mine infrastructure.

Vazante Mine Mineral Tenure

Brazilian companies that hold Mining Concessions are subject to a royalty payment known as Financial Compensation for the Exploitation of Mineral Resources (Compensação Financeira pela Exploração de Recursos Minerais - CFEM), imposed by the National Mining Agency—ANM . Revenues from mining activities are subject to CFEM which is paid to the ANM. CFEM is a monthly royalty based on the sales value of minerals, net of taxes levied on the respective sale. When the produced minerals are used in its internal industrial processes, CFEM is determined based on the costs incurred to produce them or is determined by a reference price of the respective mineral to be defined by the ANM. The applicable rate varies according to the mineral product (currently 2.0% for zinc and lead). The Vazante Mine is not subject to any royalties other than the CFEM and royalty payments to surface rights holders if mining occurs in their property equal to 50% of the related CFEM.

There is also a monthly inspection fee related to the transfer and commercialization of certain minerals in some Brazilian states, such as Minas Gerais, where the concessions are located (Taxa Estadual de Recursos Minerais - TFRM).

The Vazante Operation holds several permits in support of the current operations. The main instrument to regulate the Vazante Operation is a set of operating licences issued by the COPAM from the state of Minas Gerais. The licences are active, some of them under renewal process.

History

Mineralization in the Vazante Operation area was initially discovered by Angelo Solis in 1933 who acquired the first mineral titles to the area. The mineral rights to the Vazante Mine portion of the Vazante Operation land holdings were first acquired by Companhia Mineira de Metais (CMM) in 1956. CMM later became Votorantim Resources in 2005 and more recently Nexa Resources S.A. in 2014. The original land titles for the Vazante Operation were added and expanded over the years by means of direct land acquisition (claim staking) and various option agreements and purchases. The Extremo Norte Mine portion of the current Vazante Operation land holdings was acquired by purchase in 2007.

Mechanized open pit mining at the Vazante Operation commenced in 1969. The initial mining operations exploited the supergene calamine mineralization which was formed by a mixture of hemimorphite (Zn₄(Si₂O₇)(OH)2.H₂O) and smithsonite (ZnCO₃) that were derived from weathering of the primary willemite mineralization. Open pit mining operations of willemite mineralization were suspended in 2000, followed by the suspension of open pit production of calamine mineralization in 2008.

Development of the Vazante Operation underground mines began in 1983, with initial minor production of willemite mineralization taking place in 1984. The underground mines exploit the primary willemite mineralization (Zn2SiO4) along with minor to trace amounts of sphalerite. Production from the underground mines are ongoing.

Despite the pandemic situation in 2020, mining operation in Vazante remained normally with no impact on production levels.

Historical ore production and zinc grade figures are shown in the table below.

Production of Vazante (2018 - 2020)

Geological Setting, Mineralization and Deposit Types

The geology of the Vazante Operation area consists of a sequence of pelitic carbonate rocks belonging to the Serra de Garrote and Serra do Poço Verde formations of the Vazante Group. The currently known mineralization has been traced along a strike length of approximately 10.5 km, extending from the southern end of the Vazante Mine to the northern limits of the Extremo Norte Mine.

The zinc-lead-silver mineralization at the Vazante Operation is hosted by the Vazante Shear Zone which has been traced by drilling and sampling along a strike length of approximately 12 km. The Vazante Shear Zone has a general strike of azimuth 50° and dips approximately 60° to the northwest at surface. The hanging wall lithologies of the Vazante Shear Zone are comprised of dolostone and sericitic phyllite, slates and marl units of the Serra do Poço Verde Formation while the footwall lithologies to the Vazante Shear Zone are dominated by dark grey dolostones of the Upper Morro do Pinheiro Member. Drilling information indicates that the dip of the zinc mineralized zone gradually decreases with depth in the southern portions of the structure.

The zinc mineralization at the Vazante and Extremo Norte mines is composed largely of hypogene zones that are composed mainly of willemite (Zn₂SiO₄) veins, veinlets, and stockworks that are hosted by sphalerite-rich carbonate. The mineralization typically contains willemite (50% to 70%), dolomite (10% to 30%), siderite (10% to 20%), quartz (10% to 15%), hematite (5% to 10%), zinc-rich chlorite (5% to 10%), barite (<5%), franklinite (<5%), and zincite (<5%), with subordinate concentrations of magnetite and apatite (Monteiro et. al., 2006). Lead and silver are also recovered from the hypogene mineralization is produced from the Vazante Operation. While no detailed studies regarding the specific lead and silver bearing minerals have been carried out on samples of the hypogene mineralization, several detailed mineralogical studies have been conducted using concentrate samples. It is remarkable that the majority of the lead mineralization in the concentrates has been found to be related to galena (PbS), with lesser amounts of lead being contained in cerussite (Pb(CO₃)). Mineralogical studies have indicated that the silver values are contained in the minerals acanthite (Ag₂S) and jalpaite (Ag₂CuS₂).

Supergene zones of zinc-rich mineralization have been developed in the near-surface portions of the hypogene mineralized zones. These supergene zones are referred to as the calamine zones at the Vazante Operation. The calamine mineralization is composed principally of smithsonite (ZnCO₃) that includes subordinate amounts of hemimorphite (Zn₄(Si₂O₇)(OH)₂.H₂O) and quartz. The calamine mineralized zones were derived from weathering of the primary willemite mineralization.

The figure below shows the geological setting of the Vazante area. The subsequent figure is a local geology plan of the mine area.

Geological Map of the Brasilia Fold Belt

Local Geology Plan, Vazante to Extremo Norte Mines

Exploration

Zinc was first discovered at the Vazante Operation in 1951 when areas of gossan and calamine mineralization were discovered in surface outcrops. Since 1951, exploration has largely consisted of geological mapping and geophysical surveying, with minor amounts of geochemical sampling programs being carried out to locate outcropping mineralized zones. In the Vazante Operation area, exploration programs (including drilling) have strategically been carried out in support of extensions of mining operations, including the possibility of deepening of the mine infrastructure.

The Nexa geological team has continued to conduct exploration activities in the immediate environs of the Vazante Mine as well as in the neighbouring regions. The regional exploration programs have discovered several occurrences of zinc mineralization including Vazante Norte, Carrapato, Vazante Sul, and Sugem.

In 2020, Nexa spent US$0.8 million on brownfield projects for life of mine extension, including exploration project maintenance and geological activities. Also, 13 exploration drill holes, totaling 4.6 km were carried out. The forecast budget for 2021 is US$1.7 million to perform 10.5 km of drilling.

Drilling

In 2020, exploration activities were reduced due COVID-19 pandemic and its entirely only in 3Q20 after implamentation of several safety and health measures. By the end of 2020, Nexa completed approximately 4.6 km of diamond drilling, divided between exploratory and brownfield drilling. The focus were in the extension of the Vazante Mine ore bodies, targets at Lumiadeira, Extremo Norte and shallow calamine mineralization in the Extremo Norte area. Also, drilling activity confirmed the presence of Pink Dolomite, typical host rock of Vazante Ore and Sungem Target in Vazante Sul Target. Exploratory drill holes intersected occurrences of sphalerite in a hydrothermal breccia with white dolomite.

Nexa also performed 324 diamond drill holes, totaling 46 km aimed mineral resources classification in the Vazante Mine. The focus of this campaign was north of Extremo Norte and south of Lumiadeira.

Sampling, Analysis and Data Verification

Sample collection and core handling are in accordance with industry standard practices. Procedures to limit potential sample losses and sampling biases are in place. Sample intervals are consistent with the type of mineralization. Underground channel samples range from 0.5-1.5 m long, and respect lithological, alteration, mineralization, and other natural boundaries.

Prior to 2014, mine samples were analyzed by the Vazante laboratory on the mine site. The exploration samples were analyzed by an external laboratory. Samples were prepared using the mine laboratory machinery. This laboratory was not accredited. ALS, an independent laboratory, has been the primary laboratory for preparation of exploration and production samples since 2014. Samples are prepared and analyzed at either of the ALS laboratories located in Vespasiano, Minas Gerais and Goiaˆnia, Goia´s. Both laboratories are ISO 9001:2008 certified, and independent of the Company. ALS Lima performs the sample analytical step. This laboratory is independent of the Company, and holds ISO 9001:2008 and ISO 17025 accreditation.

Sample analysis at the mine laboratory and ALS Lima is performed using standard procedures that are widely used in the industry. In both cases, analytical procedures are adequate to support mineral resource and mineralized material estimation and mine planning.

Company-wide QA/QC protocols were implemented in 2009, and have improved over time. The current program includes submission of twin, coarse and pulp duplicates, or CRMs, external controls, and coarse blank samples. Nexa considers the data to be adequately accurate and precise to support mineral resource and mineralized material estimation and mine planning.

All data that are stored in the Vazante Mine database are verified by Nexa staff via software verification before final entry into the database. These routines are aimed at preventing entry of extraneous data such as incorrect lithology codes or overlapping assay intervals into the database. Additional internal checks are made to assure that information used for mineral resource and mineralized material estimation and mine planning is reliable and suitably error free.

Nexa staff periodically prepare reviews on sampling procedures, geological logging procedures, core drilling and core handling procedures, and QA/QC procedures. Current procedures are considered acceptable to support mineral resource, mineralized material and mineral reserve estimates. Sample data collected adequately reflect the deposit dimensions, true widths of mineralization, and the style of the deposits.

Mineral Processing and Metallurgical Testing

Zinc is the primary metal of economic importance, with minor quantities of lead as galena and associated silver minerals allowing for the production of relatively small amounts of lead concentrate as well. Due to the ore mineralogy, zinc concentrate produced at the Vazante Operation is elevated in silica, as well as calcium, magnesium, and carbonates resulting from carbonate gangue presence (predominantly dolomite). Nexa’s Três Marias zinc smelter includes a circuit specifically configured to process the zinc silicate concentrate produced at the Vazante Operation and as a result all of the concentrate produced at the Vazante Operation is exclusively processed at the Três Marias smelter where zinc metal is produced.

Metallurgical studies have been completed since plant operations began in 1969. Studies incorporated mineralogy, grinding characteristics, and flotation separation testing. Much of the testwork has been completed in the Votorantim laboratory at the Vazante Operations. Studies have been supported by universities including the Federal University of Minas Gerais (UFMG) and the University of Sao Paulo. Most studies have focused on factors affecting zinc recovery.

Recent test work has focussed on the reprocessing of historical tailings and improving recovery from calamine material (versus historical recovery) to support calamine resource evaluation. The Aroeira TSF contains both willemite and calamine tailings, with the willemite tailings generally deposited on top of the calamine tailings. The Vazante Operation currently processes tailings reclaimed by truck and front end loader (FEL) from the Aroeira TSF. Aroeira tailings comprise a small portion of the feed to the processing plants. The most recent test work performed for Aroeira Tailing was conducte by SGS GEOSOL aimed at the production of a concentrate with 39% Zn and a minimum recovery of 55%. Preliminary test work was completed on calamine samples by Nexa at the Vazante Operation with the objective of improving on the historical recovery from calamine ore (approximately 50%), with bench scale tests completed in 2017, followed by pilot tests in 2018.

Typical deleterious elements or compounds of zinc concentrates sourced from Vazante that could negativally affect the refining process include carbonates, magnesium oxide (MgO), and fluorine. Vazante Operation concentrate contains levels of carbonates, MgO, and fluorine close to but under the specifications. The lead concentrate grade is approximately 20% Pb to 28% Pb and does not contain penalty levels of deleterious elements. Silver content ranges from approximately 2,000 g/t Ag to 3,000 g/t Ag.

Vazante Operation concentrate production for the past three years is summarized in following table.

Vazante Circuit Metallurgical Performance (2018 -2020)

Mineral Resources Estimate

The Mineral Resources estimate dated December 31, 2020 is reported using the 2014 CIM Definition Standards. The mineral resource estimate was completed using Datamine Studio RM and Leapfrog Geo software. The Mineral Resources comprise three styles of mineralization. The first style of mineralization is represented by the hypogene (willemite) mineralized zones that are found in the underground portions of the Vazante and Extremo Norte deposits. The second style of mineralization is represented by the supergene (calamine) mineralized zones found in the Cava 3A, Matas dos Paulistas, and Braquiara areas of the Extremo Norte and Vazante deposits. This supergene (calamine) mineralization is referred to at the Vazante Operation as calamine mineralization and comprises a mixture of smithsonite and hemimorphite minerals. The third type of mineralization comprises tailings that are contained within the Aroeira TSF. The material found in the Aroeira tailings comprise a mixture of hypogene (willemite) and supergene (calamine) minerals. The Mineral Resources are exclusive of Mineral Reserves.

The Mineral Resource statements for the underground hypogene (willemite) mineralization are prepared within reporting panels prepared using the native functions and workflows available through the Deswik mine modelling software package considering spatial continuity, a minimum width of 3.0 meters, a NSR cut-off value of US$47.49/t for SLS and US$74.96/t for R&P. The Mineral Resource statements for the supergene (calamine) mineralization are prepared using an open pit shell that was created in consideration of appropriate metal prices, mining costs, metallurgical recoveries, and geotechnical considerations. The Mineral Resources are estimated at an NSR cut-off value of US$20.16/t for soil and US$20.02/t for fresh rock and transition material. The Mineral Resource statements for the tailings are reported considering the material with an NSR value of greater than US$20.62/t which lies above the original topographic surface. All NSR cut-off values for the mineral resources are based on a zinc price of US$2,869.14/t (US$1.30/lb) , a lead price of US$2,249.40/t (US$1.02/lb), and a silver price of US$19.38/oz.

Mineral Reserves Estimate

The Mineral Reserves estimate dated December 31, 2020 is reported using the 2014 CIM Definition Standards and has been established based on actual costs and modifying factors from the Vazante Mine, and on operational level mine planning and budgeting. The dilution that has been applied is related to the selected mining method. The two main mining methods are SLS and VRM. The NSR cut-off value was determined using the mineral reserve metal prices, metal recoveries, transport, treatment, and refining costs, as well as mine operating cost. A minimum mining width of 4.0 m was applied and average bulk density of 3.1 t/m^3. Mineral Reserves are estimated using average long-term metal prices of zinc: US$2,494.90/t (US$1.13/lb); lead: US$1,956.00/t (US$0.89/lb); silver: US$16.85/oz (using an average long term U.S. dollar to Brazilian real exchange rate of 4.84), and metallurgical recoveries are based on recovery curves derived from historical processing data. Long-term metal prices used for Mineral Reserves are based on consensus and long term forecasts from banks, financial institutions and other sources.

Mining Operations

Mining Methods

The Vazante Operation consists of two mechanized underground mines, the Vazante Mine and Extremo Norte Mine, currently operating at a rate of approximately 1.5 Mtpa. The mineralized zones dip between 45° and 70° and the mine extends over a strike length of five kilometres. With the addition of the North Extension, this will increase to approximately 10 km.

The Vazante Mine currently extends over a vertical depth of 300 m from surface to the 326 level. The Vazante Mine is being deepened by 186 m to the planned 140 level. There are former open pits along portions of the strike of the Vazante deposit. There are two access ramps to the Vazante Mine and one to the Extremo Norte Mine. Mine headings range from four metre by four metre ore drives to six metre high by five metre wide main ramps.

The Vazante Operation is designed based upon mechanized longitudinal longhole stoping for areas with a dip greater than 45°. Longhole stopes are developed with footwall access drives parallel to the orebody. Crosscuts are driven from the footwall drive and then the ore is developed along strike. Sublevels are typically 30 m apart though the distance varies depending on the orebody. Long holes are often a combination of downholes or VRM and uppers or sublevel longhole open stopes (SLOS). Both longhole methods employ a retreat sequence along strike. The SLOS stopes are not backfilled where the VRM stopes are backfilled.

The Vazante Operation has a fleet of mobile equipment to enable development and production activities to be completed in an efficient manner while meeting all mine regulatory requirements for underground mining operations.

Dewatering at the Vazante Operation is a critical aspect of the mine operation as a high rate of dewatering is required to enable mining to be carried out in a safe and efficient manner on a continual basis. A significant amount of water is pumped to surface for discharge. The total pumping system has a capacity of 16,000 m³/h plus a secondary 2-stage pumping station (PS300-PS500) with total capacity of 3,500 m³/h. The two pumping stations combined have a total capacity of about 19,500m³/h.

Processing and Recovery Operations

The Vazante Operation processing facilities have a nominal design processing capacity of approximately 4,400 tpd or 1.6 Mtpa at 96% utilization and produce approximately 350,000 tonnes per annum (tpa) to 370,000 tpa of zinc concentrate and approximately 4,000 tpa to 5,000 tpa of lead concentrate that contains small amounts of silver. They consist of two adjacent plants, Plant C and Plant W, that are interconnected at various points.

Processing at the Vazante Operation comprises conventional crushing, grinding, flotation, concentrate dewatering, and tailings disposal. The main differences between the two plants is that Plant W incorporates a sulphide flotation stage for the recovery of a lead–silver concentrate. Both plants include crushing, grinding, and zinc flotation. Combined Plant W and Plant C tailings are thickened and filtered prior to disposal in the Pilha Garrote dry stack TSF (DSTSF).

Zinc concentrates are trucked in bulk approximately 250 km to Nexa’s Tres Marias smelter while lead—silver concentrates are exported.

Simplified Flowsheet of the Current Vazante Processing Facilities

Infrastructure, Permitting and Compliance Activities

Project Infrastructure

The Vazante Operation is immediately adjacent to a public highway and situated approximately 8.5 km from the town of Vazante. Site access is via paved roads to the mine office. All infrastructure required for the current mining and processing operations has been constructed and is operational. This includes the underground mines, access roads, powerlines, water pipelines, offices and warehouses, process plant/concentrator, conveyor systems, waste rock facilities, temporary ore stockpiles, paste-fill plants, and tailings storage facilities.

The surface and underground infrastructure of the Vazante Operation include:

The power supply to the Vazante Operation is provided by two independent 138 kV transmission lines that feed the site and that can provide up to 55 MW.

Site Layout Plan

Environmental, Permitting and Social Considerations

The Vazante Operation has a net positive water balance that results in surplus water collected onsite being discharged to the receiving environment. Industrial effluents from the Vazante Operation are directed to the Aroeira TSF, together with surface runoff from the crushing area, chemical laboratory area, and channel network for surface water collection. Underground mine dewatering is pumped to surface and conveyed via gravity to the Aroeira TSF tailings pond through a concrete channel. Water is pumped from the Aroeira TSF to offset make up water requirements for ore processing. Excess water collected in the Aroeira TSF is released to the Santa Catarina River. Dewatering from the Extremo Norte Mine is pumped to a sediment sump prior to release to the Ouro Podre stream.

Tailings are currently disposed in the Pilha Garrote DSTSF as filtered tailings, and at the Aroeira TSF as a slurry. The Pilha Garrote DSTSF is the primary TSF. Waste rock is used for backfilling or disposed of at surface in mined-out open pits.

Six Environmental Impact Assessments (EIAs) complemented with other studies have been developed since 2000 to identify potential environmental effects resulting from project activities for the construction, operation, and closure stages. The mitigation measures are mostly addressed through a number of environmental control programs (including environmental monitoring) presented in the EIAs.

The Vazante Operation holds several permits in support of the current operations. The main instrument to regulate the Vazante Operation is a set of operating licences issued by the COPAM from the state of Minas Gerais. The licences are active, some of them under renewal process.

Two annual environmental reports (one for the Vazante Mine and one for the Extremo Norte Mine) were prepared by Nexa in 2020 and submitted to the authority (Regional Environment Superintendence SUPRAM-NOR) in compliance with Condition 01 of the Operation Licences.

The closest community is the municipality of Vazante, located 8.5 km from the Vazante Operation with a population of approximately 19,300 residents. The closest major urban centre is Brasilia, approximately five hours away via roadways, with a population of approximately 4.7 million residents.

The most recent Mine Closure Plan was prepared in 2018. The Mine Closure Plan has been designed to address remediation of the operational areas, and to meet Brazilian engineering requirements for such plans at a conceptual level. The plan identifies three key phases: preclosure, closure, and post-closure. Most facilities will be dismantled, and equipment removed from the site. Underground openings will be sealed, and groundwater levels allowed to stabilize.

Vazante Operation is a positive contribution to sustainability and community well being. Nexa has established and continues to implement its various corporate policies, procedures, and practices in a manner consistent with relevant IFC PSs. Nexa has, and continues to make, a positive contribution to the communities most affected by the site operations and has done a thorough job in documenting potential effects on stakeholders and protecting the rights, health, and safety of its employees.

El Porvenir

The most recent NI 43-101 technical report with respect to El Porvenir is the technical report titled “ Technical Report on the El Porvenir Mine, Department of Pasco, Peru” with an effective date of December 31, 2020 (the “El Porvenir Technical Report”) prepared by RPA (now a part of SLR Consulting Ltd), in particular by: Rosmery J. Cardenas Barzola, P.Eng., Stephan R. Blaho, P.Eng., Lance Engelbrecht, P.Eng., and Luis Vasquez, M.Sc., P.Eng. The El Porvenir Technical Report has been filed in accordance with NI 43-101, and is available, under Nexa’s SEDAR profile at www.sedar.com.

Project Description, Location and Access

Project Setting

The El Porvenir Mine is located in the district of San Francisco de As´ıs de Yarusyaca´n, in the province of Pasco, Peru. The property is located in the central Andes mountains region of Peru, at an approximate elevation of 4,200 MASL. The mine is situated at kilometer 340 of the Carretera Central Highway (Lima—Hua´nuco route), 13 km from the city of Cerro de Pasco. Geographically, the mine is located in the zone of the Central Cordillera which contains the communities of Para´n, Lacsanga and Santo Domingo de Apache.

Site Location Plan

Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements

The El Porvenir Mine is owned by Milpo Andina Peru, S.A.C., a subsidiary of Nexa Peru in which Nexa Peru has a 99.99% equity interest. The El Porvenir Mine has a total of 25 concessions covering approximately 4,846.77 hectares, as well as a beneficiation plant “Acumulacion Aquiles 101”. With respect to the surface property at the El Porvenir Mine, there is a mining site of 450.8 hectares, where the mining concession is located, as well as additional surface property where tailings dams/ponds, camps sites and other ancillary infrastructure are located.

El Porvenir Mineral Rights

History