Aura Silver Resources Inc.

Aura Silver Resources Inc.

November 11, 2009 14:25 ET

Aura Silver Announces Completion of Greyhound VTEM Survey and Director Change

OTTAWA, ONTARIO--(Marketwire - Nov. 11, 2009) - Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is pleased to announce that the high precision VTEM helicopter borne electro-magnetic survey of its Greyhound, Nunavut property has been completed. Flying of the survey concluded recently with the successful completion of a total of 857 kilometers of planned survey coverage.

The VTEM survey results will be analyzed and integrated with existing project data to confirm drill targets. Phase I drilling is proposed to initiate in the spring of 2010.

As previously reported (see Press Release #09-03, dated May 26, 2009), analysis of prior Greyhound project airborne geophysical data indicates that there are numerous anomalies over a strike length of 25 kilometers, with specific linear targets, each at least 800 meters in length. During August 2008, the Company's geologists prospected the Greyhound property with the intention of supplementing past sampling in order to better define exploration targets. The results were successful with samples that contain up to 4.1% copper (Cu), 13.4% zinc (Zn), 8.2% lead (Pb), 2,700 grams per tonne (g/t) silver (Ag) and 28g/t gold (Au). Additional data on samples obtained later indicate that the massive sulfide occurrence on the south-central area of the property contains up to 18.5% Zn and 9.2% Cu. Furthermore, samples collected in 1998 contained 1,480 and 3,080 g/t silver. It is the view of the Company's geologists that Greyhound contains the elements of a classic volcanogenic massive sulphide (VMS) district as well as an orogenic gold system. All of the aforementioned base and precious-metal occurrences are within 2 kilometers of the all-weather road that leads to Agnico Eagle's Meadowbank Mine.

The Company also announces that Mr. Jeffrey Klenda has resigned his position as Chairman and as a Director of Aura Silver in order that he may focus on other business interests. Mr. Klenda's resignation is effective immediately. Robert Boaz, President and CEO of Aura Silver, stated, "We wish to thank Jeff Klenda for the significant contributions he has made to the Aura Silver Board during the past five years and we wish him continuing success."

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 (Greyhound project) and in Oaxaca, Mexico with joint venture partner Intrepid Mines Limited (TSX:IAU). Aura Silver has 41,331,902 common shares outstanding.


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 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 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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