AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU)("Aura Silver" or the "Company") is
pleased to report that recent data acquired in late 2010 from surface and soil
sampling surveys, in combination with earlier airborne MEGATEM geophysical
survey results, has delineated a possible source for the high grade copper-zinc
float samples grading 9.2% copper and 18.5% zinc found 850 meters northeast of
Aura Lake on its Greyhound property approximately 41 kilometers north of Baker
Lake, Nunavut.


The initial discovery of high grade base metal-bearing angular float boulders
led to an interpretation that these may have been derived from the volcanic
rocks to the southwest. Subsequent drilling in 2010 revealed a much more complex
structure in this area, with a predominance of graphitic argillite in what
appears to be a fault-bounded block. This argillite sequence proved to be the
cause of the numerous VTEM geophysical anomalies under Aura Lake. Additional
mapping uncovered a previously unknown 2 kilometer long N-S trending unit of
felsic volcanic strata about 1.7 kilometers northeast of the base metal
discovery. The felsic volcanic rocks are profoundly sodium (Na) depleted for
about 400 meters along strike; Na depletion is a key indicator of proximity to
volcanogenic massive sulfide (VMS) deposits. Dr. J. Franklin, Aura Silver's
Chief Scientist states, "Highly sodium depleted and copper-zinc enriched felsic
volcanic rocks (which contain less than 0.5 % Na2O) likely indicate the
proximity to a volcanogenic massive sulfide system". While not defining a drill
target, the lithogeochemical results point to a broad area of highly
hydrothermally altered felsic rocks, a locus for potential copper-zinc
deposition.


The soil geochemical contents further refine the target area by defining a 600
meter-long copper-zinc anomaly (up to 323 ppm Cu and up to 185 ppm Zn)
encompassing an area west of the Na depleted rocks. The soil samples in the area
underlain by anomalous base metals are also depleted in Na. This soil anomaly is
adjacent to two distinct MEGATEM anomalies which are located under an unnamed
lake and will be a prime target for additional ground geophysics surveying and
drilling as part of the 2011 exploration program on the Greyhound property.


Robert Boaz, CEO of Aura Silver stated, "Our prime focus at Greyhound will
remain the defined gold and silver targets around Aura Lake to the south-west of
the property as well as the newly discovered Meadowbank-like prospect to the
north-east (see Press Release #10-27, November 24, 2010). However our geologists
have been intrigued by the high copper-zinc values since they were found in
2008. We have confirmed through our soil sampling program that there is a high
potential for discovery of buried base metal mineralization within the vicinity
of Aura Lake. In addition to drilling for precious metals in the spring of 2011
a concerted effort will be directed toward the high value copper target."


The Company's Greyhound property comprises 25,333 hectares located approximately
38 kilometers north of the community of Baker Lake. Infrastructure is excellent.
An all-weather road from Baker Lake to the Meadowbank Mine crosses through the
Greyhound property and is located less than one kilometer from this high grade
copper-zinc discovery.


Dr. James M. Franklin, 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 77,562,290 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. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

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