Aura Silver Resources Inc.
TSX VENTURE : AUU

Aura Silver Resources Inc.

June 05, 2007 08:45 ET

New Discoveries on Aura Silver's Taviche Project, Mexico: Drilling Program Approved

BRAMPTON, ONTARIO--(Marketwire - June 5, 2007) - Aura Silver Resources Inc. (TSX VENTURE:AUU) (the "Company" or "Aura Silver") is pleased to provide an update on its Taviche Property that surrounds the San Jose silver-gold deposit owned by Fortuna Silver Mines Inc. ("Fortuna") and Continuum Resources. A press release (May 30, 2007) by Fortuna, outlined results from their recent drilling campaign in which one hole assayed 2.48 grams per tonne gold and 283 grams per tonne silver over 104.9 metres.

In mid April Aura and its partner Intrepid Mines Limited announced that the companies had completed detailed studies along the two known vein systems on the West Taviche Concession and had initiated reconnaissance prospecting over the remainder of the West Taviche Block, as well as over the East Taviche Block where the Mexican Government ("Consejo") had identified numerous gold-silver bearing vein prospects. Sampling by Aura and Intrepid is on-going and results are now available from the Veta Karina (Copales) Vein in the Garzona area on the West Concession, and the Carolina Mine - Rosario Mine structure, the Vichache Mine, the San Jose Mine, the Rio Calabaza Vein, the Satache Shaft and the South San Carlos Mine on the East Concession. In total, over 14 significant quartz-carbonate-sulfide veins averaging greater than 500 meters in length have been mapped. Nearly all of these veins have at least minor workings along them, in some cases with levels developed up to 100 meters below the surface. "The property hosts a bounty of riches with numerous targets to explore," said Paul Pitman, President of Aura, "as with other historical mining camps in Mexico, the Taviche area is remarkably endowed with metals".

In the Garzona area of the West concession, the Copales (Veta Karina) Mine was developed on the north, northwesterly-trending Karina vein. It has been traced over several hundred meters and is 1 to 2 meters in width. Grab samples from surface vein exposures reveal up to 6.34 grams per tonne gold (g/t Au) and 64.2 grams per tonne silver (g/t Ag). A publication from the Servicio Geologico Mexicano states that their sampling from the ore dumps assayed up to 500 g/t Ag, 3 to 7% zinc plus lead, and up to 7 g/t Au. Further sampling of other veins in the Garzona area is planned.

Numerous silver-gold bearing veins are present on the East Taviche concession. Cubilete is a robust northwesterly trending vein that has a strike length of at least 1,500 meters. It is the site of historical mining activity with several adits still accessible on either side of a prominent hill. Production of gold, silver and base metals occurred from levels, developed over about 140 meters of relief. In the San Carlos and Rio Calabaza areas, several veins with widths from 1 to 2 meters were sampled. Material from the San Carlos area contains from 1.34 to 5.58 g/t Au and from 179 to 620 g/t Ag. Sampling of the veins at Rio Calabaza revealed lower gold values (less than 0.318 g/t Au) but important silver values (from 391 to 548 g/t Ag). These significant silver grades in veins exhibiting classic epithermal textures will be the focus of additional detailed work.



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Name of Working Au (g/t) Ag (g/t)
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Vichache Mine 1.305 353
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Vichache Mine 0.700 194
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Vichache Mine 0.715 165
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Vichache Mine 1.145 257
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Vichache Mine 0.401 70.8
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Rosario Mine 0.196 35.5
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Rosario Mine 0.520 95.4
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Satache Shaft 0.134 319
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San Jose Mine 0.381 63.1
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S. San Carlos Mine 1.34 179
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S. San Carlos Mine 3.87 590
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S. San Carlos Mine 3.640 499
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N. San Carlos Mine 5.58 620
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Rio Calabaza 0.253 548
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Rio Calabaza 0.318 486
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Rio Calabaza 0.135 391
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As the table shows, the preliminary investigations and sampling on the East Taviche concession have revealed significant silver and gold values. All samples in the table are grab samples from dump sites.

The Rosario Mine is by far the largest vein system discovered to date on the East Taviche concession. This vein extends northeasterly to the Carolina Mine, a distance of about one kilometer. Historic data obtained from the Mexican Consejo date back to 1908. The mine was developed to the fifth level, or about 100 meters below surface. Contoured silver data reveal that a large part of the vein contained silver in excess of 300 g/t. A vein on the fifth level contained an average of 2.8 g/t Au and 887 g/t Ag over one meter. In the deepest level, composite samples over 1.44 meters containing 5.69 g/t Au and 1,277 g/t Ag were reported.

Composite averages from all historic sampling on four of the five levels indicate an average of 2.40 g/t Au and 607 g/t Ag. Individual samples ranged from 0.87 to 37.9 g/t Au and nil to 7,148 g/t Ag (7.1 kilograms per tonne silver). Reported widths in the stopes vary from 0.5 to 2.1 metres. Detailed work has been initiated on the Rosario vein with the goal of sampling and mapping the area over the next few months. Trench sampling will be done where warranted and will be followed by diamond drilling.

Sampling in the southern part of the East Taviche concession has identified silicified limestone exposures over several square kilometers. The silicified and intensely veined areas have been widely prospected and contain numerous pits. To date, 14 rock samples collected over this large area have yielded up to 1.53 g/t Au, 198 g/t Ag, 6090 ppm arsenic (As) and 4650 ppm antimony (Sb). Metal enrichment appears to be related to sulfide content. These limestone units will be examined further for their potential for skarn-type mineralization and buried epithermal precious metal mineralization.

Samples collected by Aura Silver/Intrepid Mines were sent to ALS Chemex in Guadalajara, Mexico for multi element geochemical analyses by ME-ICP41 and for gold by fire assay and AAS finish (0.005-10ppm). Samples over 10ppm were assayed by a gravimetric technique. Every 10th sample included a blank and a known standard was inserted at every 25th sample.

Currently, Aura Silver and Intrepid Mines are finalizing the design of their proposed drilling program on the West Taviche concession. Drilling is planned to commence in late July 2007. The Phase I program will consist of at least 3,000 meters of core drilling. A total of 30 holes from 100 to 225 meters in depth are planned to test areas of known "high grade" silver-gold mineralization including those adjacent to historical mines, strongly mineralized surface exposures and significant vein structure intersections.

Taviche is the flagship project for Aura Silver. "In less than 6 months Aura Silver and its partner Intrepid Mines have completed a due diligence of the vein systems which is leading to a significant drill program. "To have advanced this project to the drill-stage is a credit to the expertise of our field crews" said Paul Pitman, President of Aura.

About Aura Silver

Aura Silver Resources is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in North America with a focus on silver. The Company has 28,615,567 common shares outstanding.

FORWORD LOOKING STATEMENTS

This Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has neither approved nor disapproved the information contained in this press release.

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