AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is
pleased to release preliminary observations on its ongoing 4,000-metre drill
program at its Greyhound property, Nunavut. This project is located 38
kilometres north of Baker Lake and 46 kilometres south of Agnico-Eagle Mines'
Meadowbank mine. The drilling program is testing various targets for gold,
silver and base metals where earlier surface sampling of rock float assayed up
to 28.0 g/t gold and 5,300 g/t silver. In all, approximately 25 to 40 shallow
holes will test both induced polarization (IP) geophysical anomalies and rock
and soil geochemical targets. Several holes intersected broad zones of
disseminated sulfide associated with strong silicification, each typically from
25 to 30 metres in core length. 


Locally, up to 2% arsenopyrite (a key indicator for gold), 4% sphalerite (zinc),
minor chalcopyrite (copper) and traces of galena (lead, possibly associated with
silver) have been recorded (all assays are pending). These observations indicate
that the recent drill holes could be proximal to the sources of high grade gold
and silver-bearing surface samples collected in 2010. The drill program is
continuing to target the most anomalous areas south of Aura Lake. 


In addition, the recently completed Max-Min geophysical survey, two kilometres
east-northeast of Aura Lake, indicates a set of distinctly conductive zones,
coincident with moderate intensity Megatem(TM) airborne geophysical conductors
and soil geochemical anomalies. These occurrences are just west of distinctly
altered felsic outcrops, and are the potential source of the high-grade sulfide
boulders (9.2% Cu, 18.5% Zn) found in 2008 near the Meadowbank Road, about 1.4
kilometres to the west. 


Aura Silver anticipates several additional holes will be drilled in these two
areas prior to a mandated break at the end of June. We expect that assays will
be completed shortly. 


Further, in the northeastern section of the Company's extensive claim group, 25
km to the northeast of Aura Lake, over 40 km of ground geophysical surveys were
recently completed covering 5 km strike length of banded iron formation.
Reconnaissance sampling late last season discovered mineralized (sulphidized)
iron formation assaying up to 4.0 g/t gold. Drilling in this area will commence
in early August. 


CEO Robert Boaz stated, "Preliminary observations of the core from the current
drilling program are encouraging. While assays are pending, the rocks exhibit
all the favourable characteristics of host rocks to gold and silver deposits
including silica flooding and the presence of sulphides." 


Further drilling continues to test the broad geophysical zone defined by IP and
soil geochemistry.


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 at the Taviche project. Aura Silver has
87,853,590 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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