AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is
pleased to announce that a high quality gold target referred to as the Dingo
prospect and an adjacent copper prospect have been outlined through a
comprehensive interpretation of geochemical data at its wholly-owned Greyhound
property in Nunavut. These new discoveries add to the excellent potential of the
property where previous results identified one gold and two silver targets
located to the east and south-east of Aura Lake, as well as an untested silver
target on the Greyhound north-east claims. These latest results complete Aura
Silver's extensive geochemical interpretation where six drill-ready targets have
been clearly identified along an Archean greenstone belt stretching over twenty
five kilometres from the southwest to the northeast.


Robert Boaz CEO and President of Aura Silver states that, "During the past year,
we have concentrated our efforts on isolating the sources of high grade surface
samples of gold, silver and base metals at Greyhound. We now believe that
Greyhound likely represents the most exciting exploration property for gold,
silver, copper and zinc of any other property in Nunavut or for that matter
likely northern Canada, especially given the high quality infrastructure
currently in place. It is most unusual to explore this far north and to have
such excellent logistics".


The Dingo Prospect lies 5.5 kilometres NNE of Greyhound's Aura Lake area and
only thirty kilometres north of Baker Lake, NU with access via the all-weather
road leading to Agnico Eagle's Meadowbank mine. The prospect is a discontinuous
north-south striking quartz-vein system traced over 1.7 kilometres of strike at
the margin of a major felsic sub-volcanic intrusion and mafic volcanics with a
possible east-west trending shear zone structure; a classic gold environment.
The vein system has been traced by outcrop and a discontinuous, but linear,
gold-in soil anomaly with values in excess of 2,000 ppb Au. Sampling was
conducted at 50 metre intervals along lines spaced at 100 metres. Grab samples
from exposed outcrop assayed from trace up to 9.1 g/t Au and from trace up to
96.6 g/t Ag as reported in the table below.


A significant gossan development lies near the quartz-vein system near the south
end of Dingo and bordering the east-west shear zone structure and measures 5 by
150 metres. Mineralization consists of pyrite, chalcopyrite and trace
arsenopyrite as a sulfide vein stringer zone. Precious metals associated with
this copper stringer zone are low but one sample reported a copper value of
greater than 10,000 ppm (greater than 1% Cu). However, the Company speculates
that this zone may be associated genetically with the high grade surface samples
transported to the north end of Aura Lake which assayed 9.2% copper and 18.5%
zinc.


Dingo Prospect Grab Samples



SAMPLE NUMBER                                         GOLD            SILVER
                                                     (g/t)             (g/t)
                                                                            
AA03                                                   9.1               4.6
G0650994                                               7.4              96.6
98-AA-04                                               7.2              10.2
JS11-43                                                1.2              20.8
JS-11-44 (copper zone)                                 0.9              47.6
JS-11-45 (ext. of copper zone)                         0.1               2.8
JS11-46                                                0.8               9.8
G0650994                                               0.1               9.6
                                                                            
Note: All samples were assayed by fire assay by Actlabs, an accredited assay
laboratory, being one of the first labs in the world to achieve ISO 17025   
accreditation as well as CAN-P-1579 (Mineral Lab) and CAN-P-1578 (forensic  
lab) accreditations.                                                        



New interpretation of the Dingo soil results is the product of Activation
Laboratories Ltd. (Actlabs) deep-penetrating organic geochemistry analysis which
has been used in two other studies at Greyhound. Spatiotemporal Geochemical
Hydrocarbon (SGH) analyses (see description below) has identified gold and
silver targets across the Greyhound property that are rated in excess of 5 out
of a maximum 6 in terms of quality and probability of occurrence by the Actlabs
rating system. The Dingo prospect was first press released in September 2010,
noting the high grade gold values and copper mineralization. The SGH data
illustrates two distinct and separate anomalous zones associated with a possible
east-west trending shear zone structure suggesting an association of shear
hosted vein-gold. The apical anomaly indicated at the northern edge of the Dingo
survey implies a ridge anomaly and represents the vertical projection of
possible gold mineralization with an interpretation of a shallow source of less
than 50 metres. Rating of the apical anomaly mineralization plot is 5.0 out of
6.0, a significant and important top rating Actlabs suggested that the rating
could be a maximum rating of 6 if additional samples to the north were
available. Unfortunately, the soil sampling ended at the point of disappearance
of the quartz veining under thick till cover. 


Two copper anomalies were located; one deep and at the southern end of the
survey area but west of the gold quartz vein system; and, one shallow, both
associated with the surface gossan and sulphides stringer zones. An
interpretative rating of 5.5 out of 6.0 was assigned to this prospect by
Actlabs. Aura Silver's geologists believe the two anomalies are likely one
mineralized zone with one seen near surface and the other to depth. 


The map "South West Greyhound Property Showing Aura Lake and Dingo Prospects"
(available at http://media3.marketwire.com/docs/Aura_Silver_map_0121.pdf or at
www.aurasilver.com under 'News') shows the proximity of the Dingo prospect to
our original discoveries around Aura Lake with the all-weather Meadowbank road
separating these two major zones.


Spatiotemporal Geochemical Hydrocarbon (SGH) Analytical Method - An Explanation

SGH is the only known organic geochemistry tool that uses non-gaseous
semi-volatile organic compounds interpreted using a forensic signature approach.
SGH is a deep penetrating geochemistry that involves the analysis of surficial
samples from directly over potential mineral or petroleum targets. SGH analysis
incorporates a very weak leach, essentially aqueous, that only extracts the
surficial bound hydrocarbon compounds and those compounds in interstitial spaces
around the sample particles. It should not be confused with other hydrocarbon
tests of traditional analyses that measure C1 (methane) to C5 (pentane) or other
gases. 


Actlabs has continued to successfully develop, refine, and implement their
organic Spatiotemporal Geochemical Hydrocarbon analysis which detects the
organic decomposition products from bacteria and microbes that feed directly on
mineral or petroleum targets and which provide a forensic signature identifying
the target buried at depth of as much as 1,000 metres. The analysis involves the
testing for 162 hydrocarbon compounds in the C5-C17 carbon series range in a
wide variety of sample types. Actlabs' SGH analysis has experienced a high
success rate in the past with over 900 exploration targets interpreted for a
range of major mining companies and junior explorers in both the mining and
petroleum industries. Past research projects have attracted sponsors such as
Western Mining Corporation, BHP-Billiton, Inco, Noranda, Outokumpu, Xstrata,
Cameco, Cominco, Rio Algom, Alberta Geological Survey, Manitoba Geological
Survey, and OMET. In fact Actlab's SGH analysis has been described as a "REDOX
cell locator" by the Ontario Geological Survey which is crucial in determining
mineralization location.


Company Update

Aura Silver is in ongoing discussions with strategic partners focused on both of
our properties in Mexico and Nunavut which have the potential to add value for
shareholders. 


Robert Boaz states, "Difficult market conditions have led us to seek out
partners who can provide sufficient capital to make further progress on our
Taviche/Alma Delia property in Mexico as well as our Greyhound property in
Nunavut. We anticipate that further updates will become available over the
course of the next few months."


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 101,680,844 common
shares outstanding. 


Aura Silver's web site is located at www.aurasilver.com

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Robert Boaz
President and CEO
(905) 403-8010
boaz@aurasilver.com
www.aurasilver.com

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