AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is
pleased to announce that it has identified possible distinct sources of the
high-grade gold and high-grade silver surface samples found in close proximity
to Aura Lake on its wholly-owned Greyhound project in Nunavut. As previously
reported (see press release Sept. 7, 2010), Aura Silver's prospecting has
identified multiple surface rock samples ranging up to 5,300 g/t silver carrying
little gold and up to 28 g/t gold with negligible silver. However, drilling to
date of structural, geophysical and geochemical targets has been unable to
locate a source of these high grade samples. A possible cause is believed to be
due to glacial transport.


The difficulty in finding a source of the high-grade gold and silver samples
through traditional geophysical and geochemical techniques prompted Aura Silver
to employ an interpretative study referred to as Soil Gas Hydrocarbon ("SGH") to
unravel anomalous trends in the entire area and to pinpoint drill targets. SGH
is a deep penetrating organic geochemistry developed by Activation Laboratories
Ltd. ("Actlabs") of Ancaster, Ontario that involves the analysis of surficial
samples prospected over potential mineral or petroleum targets (see:
http://www.actlabs.com/files/SGH_-_NEW_.pdf). The analysis involves the testing
for 162 hydrocarbon compounds in the C5-C17 carbon series range in a wide
variety of sample types. The observation of a specific set of hydrocarbon
classes provides a forensic signature of mineral identification related to the
hydrocarbons synthesized by bacteria that are in contact with the mineral target
at depth. The geochromatographic dispersion of the SGH classes in the overburden
has been successful in delineating mineral targets found at over 700 metres in
depth. Over 14 years of research, Actlabs has conducted over 800 SGH surveys
with an 85% repeat client base including some of the worlds' largest mining
companies. 


The Aura Lake SGH analysis provides compelling results and has defined a
separate gold and two separate silver targets (see:
http://media3.marketwire.com/docs/Figure_1_and_2_AuraSilver_1026.pdf). The
targets identified reside to the east and south east of Aura Lake in areas where
no previous drilling has occurred. These targets are sufficiently definitive to
outline drill targets and have been rated by Actlabs as high-priority targets;
with gold receiving the second highest rating of the gold pathfinder class maps
and silver of the very highest confirmation level. The results also indicate
that gold and silver samples originated from two different mineralizing systems
with most samples being transported on a north to southerly path.


Robert Boaz CEO and President of Aura Silver states that, "We are extremely
excited about the SGH analysis as it is consistent with our belief that the
source of high-grade surface samples from Aura Lake are nearby. We feel SGH
significantly augments our understanding of the Aura Lake area along with our
previous geophysics and geochemical studies."


Drilling of these targets is planned to commence in the spring of 2012.

Summary of 2011 Activities 

The 2011 fieldwork consisted of a multi-phase exploration program including
prospecting and geological mapping, detailed soil sampling, ground geophysical
surveying and diamond drilling. Work was initiated in May, 2011 with line
cutting and a ground MaxMin II electromagnetic ("EM") and magnetic surveys
carried out across the north-east portion of the Greyhound claim group. Results
of this EM survey were interpreted by an independent consultant with drill
targets outlined. An extensive soil sampling survey was carried out consisting
of 498 samples collected over anomalous gossan zones found while mapping and
across the trace of electromagnetic conductors. This work was completed by July
with crews then re-focusing exploration in the Aura Lake area, the original
portion of the property that hosts high-grade gold and silver subcrop. Mapping,
soil sampling and prospecting took place over the summer months with a total of
1,340 soil samples collected in the area of Aura Lake. Samples were collected
along 100m separated lines at 50m stations along the line. Assay results of this
work were not available to the Company until the late August to mid-September
period.


Northeast Greyhound 

In late summer, a second series of drill holes targeted high soil geochemical
targets co-incident with gossanous surface zones, anomalous outcrops and EM
targets in the northeast portion of the claim group located 23 kilometres from
Aura Lake. A total of 10 holes totaling 1,746 m were drilled all of which
intersected barren semi-massive sulphides.


South Aura Lake 

The South Aura Lake Anomaly forms three discontinuous gold anomalies each
striking east-westerly. The main anomaly covers the original gold showing where
surface rock values of up to 28.2 g/t Au were previously discovered and is
outlined by a co-incident induced polarization geophysical anomaly. Soil values
ranged from 22 ppb to 1,070 ppb Au (1.07 g/t Au). A second and larger anomaly
has a strike length of 700m with soil values ranging from 35ppb to 1,450 ppb Au
(1.45 g/t Au). One rock sample collected assayed 4.69 g/t Au and 59.4 g/t Ag.
The third and most southerly anomaly covers a strike length of 300m with soil
values from 24ppb to 481 ppb Au. A total of 17 drill holes or 2,648.6 meters
tested a variety of geological, geochemical and geophysical targets. Initial
results were not encouraging and no significant assay results were encountered.


The Dingo Target 

The Dingo target to the north and east of Aura Lake is the second new area
outlined by the 2011 soil survey. The quartz-vein body outcrops at the contact
of mafic volcanic and a granodiorite intrusion over a continuous strike length
of 1,700m. A total of 295 soil samples were collected on 100m line spacings
across the vein. Anomalous soils varied from 52 ppb to greater than 2,000 ppb Au
(greater than 2 g/t Au) with rock samples from outcrop from trace amounts up to
9.1 g/t Au and 96.6 g/t Ag (see table below). At the southern end, a copper
stringer zone was found associated with the quartz vein which carried weaker
precious metals values (0.89 g/t Au and 47.6 g/t Ag). 


The following table lists recent significant rock samples collected at the Dingo
and South Aura Lake targets:




----------------------------------------------------------------------------
Location                             Sample      Au (g/t)           Ag (g/t)
----------------------------------------------------------------------------
Dingo Main                         G0650992          7.44               96.6
Dingo-South                            AA03          9.10                4.4
Dingo-South                        98-AA-04          7.23               10.2
Dingo-South                         JS11-43          1.18               20.8
Dingo - Copper Zone                 JS11-44          0.89               47.6
----------------------------------------------------------------------------
Aura Lake South                     JS11-31          3.20                6.9
Aura Lake South                         A21         14.90   greater than 100
Aura Lake South                         A22          6.57               88.2
Aura Lake South                   AS3N 200E          4.69               59.4
Aura Lake South                       KB005          7.62                8.5
Aura Lake West                      1200003         34.20           no assay
----------------------------------------------------------------------------



In the first phase of drilling, drill core was analyzed by ALS Chemex, in
Vancouver and Yellowknife for multi element geochemical analyses by ICP-MS (48
element or extended whole-rock package) and gold by fire assay and FA-AA finish.
All soil samples and drill core during the second half of the drill program were
processed by Activation Laboratories in Ancaster, Ontario. Soils were analyzed
by multi-element Ultratrace-6 four acid digestion with gold analysis by ICP and
rocks and core were assayed for gold by 1A2 (Au Fire Assay-AA). 


Paul Pitman, P. Geo. is Aura Silver's qualified person (as defined by National
Instrument 43-101) and has reviewed and approved the scientific and technical
information in this press release. 


About Aura Silver 

Aura Silver is a TSX Venture listed company engaged in the acquisition,
exploration and development of precious metal prospects in Canada (100% owned
Greyhound project) and in Oaxaca, Mexico. Aura Silver has 97,680,844 common
shares outstanding. 


FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of
the date hereof and are based on current expectations, forecasts and assumptions
which involve risks and uncertainties associated with our business including the
uncertainty as to whether further exploration will result in the target(s) being
delineated as a mineral resource, capital expenditures, operating costs, mineral
resources, recovery rates, grades and prices, estimated goals, expansion and
growth of the business and operations, the private placement financing
activities of the Company, plans and references to the Company's future
successes with its business and the economic environment in which the business
operates. All such statements are made pursuant to the 'safe harbour' provisions
of, and are intended to be forward-looking statements under, applicable Canadian
securities legislation. Any statements contained herein that are statements of
historical facts may be deemed to be forward-looking statements. By their
nature, forward-looking statements require us to make assumptions and are
subject to inherent risks and uncertainties. We caution readers of this news
release not to place undue reliance on our forward-looking statements as a
number of factors could cause actual results or conditions to differ materially
from current expectations. Please refer to the risks set forth in the Company's
most recent annual MD&A and the Company's continuous disclosure documents that
can be found on SEDAR at www.sedar.com. Aura Silver does not intend, and
disclaims any obligation, except as required by law, to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise.

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