AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is
pleased to announce that the second phase of the 2011 drilling program is
underway on its wholly-owned Greyhound property, NU. This 2,200 metre program
will test a new area of bedrock gold and silver targets located in the
northeastern part of the property (see press release of July 28, 2011). Several
target areas are defined by broad extensive soil anomalies up to 2.0 g/t Au,
bedrock grab samples up to 6.49 g/t Au and surface gossans associated with
sulphide zones in magnetite iron formation.


Iron formation hosted gold deposits are common throughout the Canadian Shield
and can be economically very important. The former Lupin Mine at Contwoyto Lake,
NU, for instance, produced 3.37 million ounces of gold between 1982 and 2005. In
Ontario, the Pickle Crow mine has historic production plus current resources of
2.70 million ounces at an average grade of 6.09 g/t Au. Closer to Aura Silver's
project are the Meadowbank gold deposits which comprise four separate zones with
an aggregate open-pittable resource of 3.64 million ounces of gold (Agnico
Report, June 28, 2011). These deposits lie in the same stratigraphic unit
(Woodburn Group) and are sulphide zones in magnetite iron formation.
Additionally one other zone, the Vault deposit, unrelated to iron formation, is
hosted as disseminated pyrite in felsic metavolcanics. The iron formation
deposits at Meadowbank are economically the most important and are expressed as
conductors. They were found as surface showings but were outlined by HLEM
(horizontal loop) geophysical surveys. Aura Silver believes that it has
discovered mineralization of the same character as the Meadowbank deposits
adjacent to MaxMin conductors (HLEM). Four target areas in the Greyhound
northeast area (as outlined in the attached figures) will be tested by diamond
drilling.


At North Gossan, anomalous gold values in soils have been traced along a one
kilometre zone overlying banded iron formation. At the JohnPaul prospect, two
kilometres south of North Gossan, a pair of one kilometre long MaxMin conductors
coincide with magnetite iron formation. Grab samples of sulphide-bearing iron
formation assay up to 3.85 g/t Au and gold anomalies in soils (up to 2,000 ppb
Au (2 g/t Au)) extend east from the mineralized subcrop for 300 metres. At a
distance of 400 metres to the north, a sample of sulphide-bearing iron formation
assayed 6.49 g/t Au. At the Bandit Prospect (1,500 metres southwest of JohnPaul)
subcropping sulphide-bearing iron formation yielded an assay of 4.09 g/t Au at
the northern end of a 400 metre long HLEM anomaly. East of JohnPaul at the
Silver Prospect, rock samples from two outcrops with massive pyrite and
pyrrhotite assayed up to 39.6 g/t silver and soil samples returned up to 12.4
g/t silver. Additional samples from all of the Northeast Prospects are pending
and further prospecting is being carried out.


Aura Silver recently staked six additional claims aggregating 5,300 hectares at
the northern extent of the northeast Greyhound property to protect the extension
of the North Gossan gold zone.


Robert Boaz CEO and President of Aura Silver states that, "the Company is very
excited about the gold bearing potential of these targets and we look forward to
the results of the current drill program." 


All samples have been processed by Activation Laboratories in Ancaster, Ontario.
Soils were analyzed by multi-element Ultratrace-6 four acid digestion with
analysis by ICP and Fire Assay while 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 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. 


Figure 1 is available at the following link:
http://media3.marketwire.com/docs/aura0817figure1.pdf


FIgure 2 is available at the following link:
http://media3.marketwire.com/docs/aura0817figure2.pdf

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