Aura Minerals Files Preliminary Economic Assessment on the Aranzazu Project and Provides Clarification on Aranzazu's Reported Cash Costs

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2012) - Aura Minerals Inc. (TSX:ORA) ("Aura Minerals" or the "Company") announces that, in accordance with National Instrument 43-101 and in support of the Company's July 18, 2012 news release, it has filed a technical report entitled "Preliminary Economic Assessment of the Expansion of the Aranzazu Mine Zacatecas Mexico" (the "PEA") prepared by AMC Mining Consultants (Canada) Ltd. The PEA is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.auraminerals.com.

The Company also wishes to clarify the effect on the payable pound per copper of the additional charges and penalties relating to the Arsenic content of Aranzazu's concentrates in fiscal Q1 and Q2 of 2012. Pursuant to the Company's management discussion and analysis ("MD&A") for the quarter ended March 31, 2012, the impact of the additional charges and penalties resulting from the elevated Arsenic levels on the March 2012 cash costs was $1.08 per payable pound of copper on the pounds of copper for which the Company was penalized. Pursuant to the Company's MD&A for the quarter ended June 30, 2012, the impact of the additional charges and penalties resulting from the elevated Arsenic levels on the Q2 2012 cash costs was $0.72 per payable pound of copper on the same basis for the entire second quarter. The Company continues to work on further reducing the cash cost per payable pound through blending and optimizing against our new off-take contracts between now and 2014.

About Aura Minerals

Aura Minerals is a Canadian mid-tier gold and copper production company focused on the exploration, development and operation of gold and base metal projects in the Americas. The Company's producing assets include the San Andres gold mine in Honduras, the Sao Francisco and Sao Vicente gold mines in Brazil and the copper-gold-silver Aranzazu Mine in Mexico. The Company's core exploration asset is the feasibility-stage copper-gold-iron ore Serrote Project in Brazil. The Company also has the Inaja iron ore project currently optioned to Vale.

For further information, please visit Aura Minerals' web site at www.auraminerals.com.