Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

January 22, 2008 21:07 ET

Aura Minerals Inc. Releases Further Copper-Gold-Nickel-Iron Assay Results on Serrote da Laje Deposit at Arapiraca

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2008) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is very pleased to report results of the third batch ("Batch 3") of diamond drill holes from the first phase in-fill and step-out program on its 100%-owned Arapiraca development project ("Arapiraca Project") in Alagoas State, Brazil. The majority of these results are from step-out holes in directions to the east, north-west and south of the Serrote da Laje deposit (the "Deposit"). These results show that the Deposit is still open in these zones which are all outside of the main "magnetic high" target area.

North-West Zone

The drill holes in this area were designed to test the potential to expand the resource as previous Companhia Vale do Rio Doce ("Vale", ex CVRD) drilling had been very limited. Results to date show that the Deposit is still open in this area and furthermore is at shallow depths. This is being considered as having potential to add to the "starter-pit" for the project.

Highlights from this area include:

- Hole AR-SLJE-127 which returned 22.00 metres of 0.60% Cu, 0.06 g/t Au, 0.08% Ni and 18.30% Fe;

- Hole AR-SLJE-128 which returned 20.00 metres of 0.55% Cu, 0.08% Ni and 20.30% Fe;

- Hole AR-SLJE-129 which returned 63.30 metres of 0.37% Cu, 0.05 g/t Au, 0.06% Ni and 14.30% Fe; and

- Hole AR-SLJE-130 which returned 12.00 metres of 1.23% Cu, 0.17% g/t Au, 0.12% Ni and 21.59% Fe;

- Hole AR-SLJE-159 which returned 21.46 metres of 0.54% Cu, 0.11 g/t Au, 0.07% Ni and 16.40% Fe;

- Hole AR-SLJE-160 which returned 37.75 metres of 0.52% Cu, 0.11 g/t Au, 0.07% Ni and 21.47% Fe, including 17.23 metres of 0.86% Cu, 0.19 g/t Au, 0.13% Ni and 30.68% Fe; and

- Hole AR-SLJE-161 which returned 39.08 metres of 0.71% Cu, 0.12 g/t Au, 0.09% Ni and 25.31% Fe.

South and East Zones

Drilling in these areas was designed to determine the general eastern and southern pit-walls for mine planning purposes. Vale had not completed any drilling in these areas which therefore contained no resources. Holes AR-SLJE-140 and AR-SLJE-143 intercepted relatively shallow mineralization to the east and follow-up drilling is now planned to determine the extent of this mineralization. This zone could result in a reduction of the stripping ratio in this area of the potential pit.

Drilling to the south also intercepted significant mineralization to the south-west, in particular holes AR-SLJE-171, AR-SLJE-172 and AR-SLJE-173. Results from these holes indicate that the zone is still open to the south-east. Further holes are planned to determine the extent of the zone and whether this zone is linked to the one intercepted by holes AR-SLJE-140 and AR-SLJE-143 which is located some 500 metres to the north-east.

In-Fill Drilling

Several in-fill holes have been completed in zones within the Deposit that contained widely spaced Vale drilling. Of significant interest is that holes AR-SLJE-141 and AR-SLJE-144 encountered good intercepts of mineralization in the central zone that Vale considered barren.

The Company has reviewed the geological model and now considers this area to contain excellent potential for further resources and the Company will now follow up with deeper drilling.

Highlights from the South-East step-out and in-fill zones include:

- Hole AR-SLJE-140 which returned 14.00 metres of 0.32% Cu, 0.19 g/t Au, 0.18% Ni and 39.49% Fe;

- Hole AR-SLJE-141 which returned 25.00 metres of 0.44% Cu, 0.09 g/t Au, 0.07% Ni and 17.80% Fe;

- Hole AR-SLJE-144 which returned 62.38 metres of 0.59% Cu, 0.08 g/t Au, 0.08% Ni and 20.00% Fe;

- Hole AR-SLJE-170 which returned 35.00 metres of 0.20% Cu, 0.02% Ni and 4.56% Fe;

- Hole AR-SLJE-171 which returned 83.45 metres of 0.33% Cu, 0.10 g/t Au, 0.06% Ni and 15.82% Fe;

- Hole AR-SLJE-172 which returned 32.56 metres of 0.41% Cu, 0.18 g/t Au, 0.12% Ni and 26.65% Fe; and

- Hole AR-SLJE-173 which returned 28.83 metres of 0.20% Cu, 0.03% Ni and 7.49% Fe.

Commenting on these results, Mr. Patrick Downey, President and CEO of Aura Minerals Inc., stated, "These recent results add to our confidence that the resource potential at the Serrote da Laje deposit continues to grow and that the shallow starter-pit potential is expanding. Furthermore, the understanding of the geological model is improving which allows the Company to better target further mineralization potential for both step-out and in-fill drilling."



Table 1 - Batch 3 - Assays

--------------------------------------------------------------------------
Total Inter-
Len- val Cu Au
UTM 24 S SAD 69 gth From To (1) (2) (3) Ni Fe
--------------- (met- (met- (met- (met- (5) (4) (6) (6)
Hole # North East res) res) res) res) (%) (g/t) (%) (%)
--------------------------------------------------------------------------
AR-SLJE-
0126 8930398 749160 181.71 97.73 111.73 14.00 0.57 0.09 0.05 10.00
--------------------------------------------------------------------------
51.79 58.00 6.21 0.41 0.12 0.08 18.00
--------------------------------------------------------------------------
AR-SLJE-
0127 8930546 748509 57.86 8.00 30.00 22.00 0.60 0.06 0.08 18.30
--------------------------------------------------------------------------
AR-SLJE-
0128 8930496 748559 79.68 4.00 24.00 20.00 0.55 NSV 0.08 20.30
--------------------------------------------------------------------------
AR-SLJE-
0129 8930443 748509 111.65 3.00 46.15 43.15 0.44 0.05 0.07 17.23
--------------------------------------------------------------------------
7.00 70.30 63.30 0.37 0.05 0.06 14.30
--------------------------------------------------------------------------
58.20 70.30 12.10 0.50 0.09 0.08 18.49
--------------------------------------------------------------------------
AR-SLJE-
0130 8930096 748560 196.03 30.00 42.00 12.00 1.23 0.17 0.12 21.59
--------------------------------------------------------------------------
49.29 52.61 3.32 0.88 0.10 0.07 15.00
--------------------------------------------------------------------------
AR-SLJE-
0131 8930097 748660 190.07 144.00 158.00 14.00 0.52 NSV 0.02 9.45
--------------------------------------------------------------------------
144.00 171.00 27.00 0.40 NSV 0.02 8.00
--------------------------------------------------------------------------
AR-SLJE-
0132 8929998 749411 207.66 189.77 202.00 12.23 1.72 0.14 0.02 4.00
--------------------------------------------------------------------------
AR-SLJE-
0133 8929948 749511 232.89 206.12 219.55 13.43 0.59 0.07 0.01 2.00
--------------------------------------------------------------------------
213.37 219.55 6.18 1.19 0.15 0.01 3.20
--------------------------------------------------------------------------
AR-SLJE-
0134 8929948 749611 245.29 225.00 229.00 4.00 0.36 NSV 0.01 2.83
--------------------------------------------------------------------------
AR-SLJE-
0135 8929896 748711 191.76 125.56 160.04 34.48 0.51 0.08 0.07 16.00
--------------------------------------------------------------------------
177.00 188.90 11.90 0.74 0.17 0.11 21.00
--------------------------------------------------------------------------
AR-SLJE-
0136 8929897 749011 261.07 134.00 142.00 8.00 0.46 NSV 0.02 11.00
--------------------------------------------------------------------------
179.61 211.96 32.35 0.66 0.13 0.10 20.36
--------------------------------------------------------------------------
AR-SLJE-
0137 8929897 749111 247.4 189.00 211.00 22.00 0.85 0.04 0.03 10.00
--------------------------------------------------------------------------
148.36 153.00 4.64 1.11 0.11 0.06 11.46
--------------------------------------------------------------------------
AR-SLJE-
0138 8929898 749211 232.35 177.00 189.00 12.00 0.66 0.12 0.01 3.90
--------------------------------------------------------------------------
218.00 228.00 10.00 0.64 0.10 0.05 12.82
--------------------------------------------------------------------------
AR-SLJE-
0139 8929898 749491 252.94 192.33 207.19 14.86 0.68 NSV 0.01 4.30
--------------------------------------------------------------------------
231.75 249.36 17.61 0.78 0.04 0.03 8.83
--------------------------------------------------------------------------
AR-SLJE-
0140 8929899 749561 246.92 56.00 70.00 14.00 0.32 0.19 0.18 39.49
--------------------------------------------------------------------------
227.00 239.19 12.19 0.86 NSV 0.02 6.10
--------------------------------------------------------------------------
AR-SLJE-
0141 8929846 748811 241.67 145.00 170.00 25.00 0.44 0.09 0.05 17.80
--------------------------------------------------------------------------
181.13 218.00 36.87 0.86 0.12 0.14 28.10
--------------------------------------------------------------------------
AR-SLJE-
0142 8929848 749511 253.54 238.20 242.80 4.60 0.73 NSV 0.01 4.30
--------------------------------------------------------------------------
AR-SLJE-
0143 8929848 749611 163.12 71.00 76.00 5.00 0.71 NSV 0.05 19.06
--------------------------------------------------------------------------
94.00 103.00 9.00 0.18 0.20 0.22 38.40
--------------------------------------------------------------------------
AR-SLJE-
0144 8929797 748911 240.19 124.62 187.00 62.38 0.59 0.08 0.07 20.00
--------------------------------------------------------------------------
206.00 224.00 18.00 0.65 0.05 0.05 9.10
--------------------------------------------------------------------------
AR-SLJE-
0145 8929747 748811 224.65 175.61 183.00 7.39 0.45 0.11 0.08 22.70
--------------------------------------------------------------------------
203.07 221.83 18.76 0.88 0.20 0.11 27.82
--------------------------------------------------------------------------
AR-SLJE-
0149 8930497 748859 169.38 112.00 123.00 11.00 0.31 NSV 0.04 14.30
--------------------------------------------------------------------------
AR-SLJE-
0151 8929697 748911 125.96 28.00 41.94 13.94 0.27 0.12 0.10 23.31
--------------------------------------------------------------------------
81.00 89.64 8.64 0.46 0.04 0.02 3.46
--------------------------------------------------------------------------
AR-SLJE-
0152 8929697 749061 243.4 210.00 226.00 16.00 0.54 0.23 0.05 11.50
--------------------------------------------------------------------------
AR-SLJE-
0156 8929597 749062 125.05 50.47 54.00 3.53 0.30 0.06 0.01 2.41
--------------------------------------------------------------------------
AR-SLJE-
0156 57.26 62.00 4.74 0.34 0.11 0.09 23.94
--------------------------------------------------------------------------
AR-SLJE-
0157 8929547 749012 139.81 38.03 52.46 14.43 0.34 0.21 0.15 28.00
--------------------------------------------------------------------------
AR-SLJE-
0158 8929548 749312 191.75 52.00 61.30 9.30 0.29 0.07 0.03 10.44
--------------------------------------------------------------------------
AR-SLJE-
0159 8930596 748459 84.16 13.00 34.46 21.46 0.54 0.11 0.07 16.40
--------------------------------------------------------------------------
AR-SLJE-
0160 8930546 748409 69.41 6.48 44.23 37.75 0.52 0.11 0.07 21.47
--------------------------------------------------------------------------
27.00 44.23 17.23 0.86 0.19 0.13 30.68
--------------------------------------------------------------------------
AR-SLJE-
0161 8930446 748409 141.42 6.00 45.08 39.08 0.71 0.12 0.09 25.31
--------------------------------------------------------------------------
28.00 45.08 17.08 0.86 0.12 0.10 23.66
--------------------------------------------------------------------------
AR-SLJE-
0162 8930647 748609 91.5 3.26 7.00 3.74 0.53 0.12 0.08 15.81
--------------------------------------------------------------------------
AR-SLJE-
0164 8930646 748409 103.11 6.00 19.44 13.44 0.49 0.07 0.07 18.03
--------------------------------------------------------------------------
AR-SLJE-
0165 8930696 748359 79.93 5.19 14.41 9.22 0.42 0.15 0.07 20.36
--------------------------------------------------------------------------
AR-SLJE-
0166 8930595 748359 72.95 6.76 18.99 12.23 0.75 0.12 0.11 26.44
--------------------------------------------------------------------------
6.76 46.00 39.24 0.24 0.04 0.04 10.25
--------------------------------------------------------------------------
AR-SLJE-
0169 8929448 749162 191.61 95.23 105.00 9.77 0.36 0.14 0.13 22.80
--------------------------------------------------------------------------
AR-SLJE-
0170 8929448 749262 246.91 75.00 110.00 35.00 0.20 NSV 0.02 4.56
--------------------------------------------------------------------------
AR-SLJE-
0171 8929400 749203 176.76 64.55 148.00 83.45 0.33 0.10 0.06 15.82
--------------------------------------------------------------------------
AR-SLJE-
0172 8929347 749162 186.95 147.44 180.00 32.56 0.41 0.18 0.12 26.65
--------------------------------------------------------------------------
AR-SLJE-
0173 8929348 749262 216.98 180.17 209.00 28.83 0.20 NSV 0.03 7.49
--------------------------------------------------------------------------
AR-SLJE-
0174 8929147 749013 140.17 84.10 94.00 9.90 0.28 0.08 0.06 12.64
--------------------------------------------------------------------------
AR-SLJE-
0175 8929097 748963 178.83 48.34 60.77 12.43 0.23 0.11 0.05 13.71
--------------------------------------------------------------------------
AR-SLJE-
0178 8930646 748360 77.84 8.60 15.66 7.06 0.52 0.09 0.06 17.90
--------------------------------------------------------------------------
AR-SLJE-
0179 8930546 748359 121.85 5.17 21.00 15.83 0.46 0.09 0.06 16.10
--------------------------------------------------------------------------
AR-SLJE-
0191 8930196 748660 206.04 50.00 56.20 6.20 0.28 NSV 0.02 7.43
--------------------------------------------------------------------------
81.07 109.00 27.93 0.56 0.11 0.05 14.61
--------------------------------------------------------------------------
139.00 148.60 9.60 0.28 NSV 0.02 6.89
--------------------------------------------------------------------------
(1) true width has yet to be determined
(2) using a copper cutoff grade 0.2%
(3) NSV equals no significant values
(4) fire assay
(5) atomic absorption
(6) ICP


QA/QC Procedures

The Company's diamond drilling program is being conducted by Geosol-Geologia e Sondagens Ltda. The core is measured, logged, photographed and then split in half using a core saw. Half the core is retained on-site in a secure storage facility and the other half is processed through the on-site sample preparation facility under the supervision of SGS-Geosol Laboratories Ltda. ("SGS-Geosol"). The entire half-core is crushed and pulverized and 150 gram splits of this pulp are sent directly by SGS-Geosol to their main ISO-accredited assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. At this laboratory, samples are analyzed by inductively coupled plasma ("ICP") multi-element analysis (35 elements are reported); Cu over 0.2% is additionally analysed by acid digestion and Atomic Absorption ("AA") finish; Fe over 40% is assayed by XRF (X-Ray Refraction); and the gold, palladium and platinum content is determined by fire assay with an AA finish. Aura Minerals sends check samples to ALS Chemex and systematically puts certified standard samples and blank samples in all batches of samples sent to SGS-Geosol as a means of quality control. Additionally, SGS-Geosol has its own stringent internal QA/QC protocols.

Quality Control

Mr. Carlos H. Bertoni, M.Sc. & P.Geo., who is the Company's Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release as applicable.

Corporate

Effective January 28, 2008, the Company's new address will be P.O. Box 10434, Pacific Centre, Suite 1950, 777 Dunsmuir Street, Vancouver, BC V7Y 1K4. The phone and fax numbers remain the same.

About Aura Minerals Inc.

Aura Minerals is a Canadian exploration company focused on the acquisition and development of mineral deposits in Brazil and the rest of South America with an emphasis on developing the polymetallic Arapiraca Project in north-eastern Brazil. The Arapiraca Project which was originally explored in the 1980's and 1990's for copper and gold, also contains magnetite (up to 50%) and nickel which have not yet been evaluated. The Company plans to evaluate the Arapiraca Project for copper, gold, nickel and iron ore, all of which can be readily extracted. The nearby infrastructure is excellent with ready access to electricity, water and shipping ports. Aura Minerals' other projects are the Cumaru, the Inaja Greenstone Belt and the North Carajas claims in the Carajas Metallogenic Province of north-central Brazil.

Cautionary Statement:

This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in Aura Minerals' public documents filed on SEDAR. Although Aura Minerals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aura Minerals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/ORA0122.pdf

The TSX does not accept responsibility for the adequacy or accuracy of this release, which has been prepared by management.

Contact Information