AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU)("Aura Silver" or the "Company") is
pleased to announce that it has uncovered a new area of bedrock gold and silver
targets in the northeastern part of its Greyhound claim group. Limited
prospecting of the area in 2010 located two outcroppings of sulphidized iron
formation with up to 4.09 g/t Au and 3.85 g/t Au. In May 2011, a ground
geophysical survey (MaxMin HLEM) was completed over the area to quantify
anomalies defined by an earlier GEOTEM(R) airborne survey. The MaxMin survey
defined numerous conductive zones. In July, these were evaluated with soil
sampling, prospecting and rock sampling. Soil values greater than 2,000 ppb Au
(2.0 g/t) and 5.98 g/t Ag were delineated. Surface sampling of bedrock returned
samples up to 6.49 g/t Au. To date, four targets have been defined for drill
testing. 


The northeastern prospects include the JohnPaul showing where anomalous gold
values have been traced across a zone 300 metres wide overlying banded iron
formation. Values ranging up to 2,000 ppb Au (2.0 g/t) have been collected from
soils in this zone. This showing was first identified in 2010. Follow-up work in
2011 extended the sulphide zone a further 450 metres to the north where a
surface showing assayed 6.49g/t Au. The Bandit Prospect, 1,500 metres southwest
of JohnPaul, has subcropping sulphidized iron formation assaying up to 4.09 g/t
Au, contiguous with a MaxMin conductive zone. The North Gossan Prospect is
located two kilometres north of JohnPaul in an area where a pair of one
kilometre long MaxMin conductors coincide with magnetite iron formation.
Geochemical values in soils across the conductive zones range up to 1,020 ppb
gold (1.02 g/t). The Silver Prospect lies 1,500 metres south of JohnPaul. Two
exposed massive pyrite and massive pyrrhotite outcrops are coincident with
MaxMin conductors. Rock samples assayed up to 39.6 g/t silver and soils across
the area run up to 12.4 g/t silver. Additional samples of all the northeast
prospects are pending.


In addition, a new zone, referred to as the Jackpot Prospect, has been traced
4.5 kilometres along gossanous zones in soils and subcrop by prospecting and
sampling. Sampling is continuing with results to date of up to 1,650 ppb Au
(1.65 g/t Au) and 12.6 g/t Ag. One quartz rich sample from bedrock assayed 3.85
g/t silver. Newly sampled sulfide-rich rocks have been forwarded for assay. 


Phase 1 of the 2011 program was completed in late June; 2,055 metres were
drilled to test a number of geophysical and geochemical targets. Anomalous gold
was intersected in several holes with the best value of 11.7 g/t Au over 15
centimetres occurring in an arsenopyrite-bearing vein (Hole G-11-29). 


Phase 2 of the summer drill program, comprising 2,000 metres of drilling, has
commenced. During this phase of work two holes in the South Aura Lake area will
test an area of sulphidized quartz veining in a structurally complex portion of
banded iron formation which returned values up to 4.0 g/t Au in grab samples.
The banded iron formation is associated with a 1,600 metre long geochemical soil
anomaly containing multiple soil values greater than 2 g/t Au. A third hole will
target a structure at the south end of Aura Lake which the Company believes may
represent the source of previously reported 5,380 g/t silver and 28 g/t gold in
glacial erratics. Following holes will test the new targets defined in the
northeastern area as well as additional structural and gold anomalous zones in
the area of Aura Lake.


Mineralization on the Greyhound property is hosted by Archean
volcanic-sedimentary sequences with intermittent banded iron formation. In
places, the iron formation is conductive and sulphidized. This geological
combination is similar to that of Agnico Eagle Mines' Meadowbank gold mine which
was discovered in outcrop and followed up by diamond drilling of MaxMin
conductors. Aura Silver recently extended its claim holdings along the
northeastern part of its property boundary to cover geologic extensions of the
zones hosting the new gold prospects in this area.


Robert Boaz CEO and President of Aura Silver states that, "We have long hoped to
discover bedrock mineralization in the areas of our high grade boulders. The
Company is excited about initiating drilling immediately on these targets.
Further, our new discovery at south Aura Lake appears to be the possible source
of the high grade silver assays. Lastly, the new Jackpot prospect south of Aura
Lake indicates the untapped potential of the Greyhound Property extending our
arsenal of potential targets." 


All samples have been processed by Activation Laboratories Ltd. in Ancaster,
Ontario. Soils were analyzed by multi-element Ultratrace-6 four acid digestion
with analysis by ICP. 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) for this press release and is Project Manager for the
Greyhound project exploration.


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 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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