Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

September 04, 2007 19:54 ET

Aura Minerals Inc. Releases the Copper-Gold-Nickel Assay Results From the First Phase of Drilling on Serrote da Laje Target at Arapiraca and Comments on Cash Investments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2007) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is very pleased to report results of the first diamond drill holes from the first phase infill program on its 100%-owned Arapiraca development project ("Arapiraca Project") in Alagoas State, Brazil. This drilling is the first of a planned 20,000 metre program which will infill the previous drilling at the Serrote da Laje ("Serrote") deposit by Companhia Vale do Rio Doce S.A. ("CVRD"). In general, the drilling will provide 60-70 metre spacing between existing CVRD drill holes as well as some step out drilling (see attached drill location map)(to view this map please click on: http://www.ccnmatthews.com/docs/ora0904map.jpg).

Results to date have shown excellent continuity of mineralization. Furthermore, there is now strong evidence that there is a significant zone of remobilization of copper and nickel where the average grades are above the previous CVRD average of 0.55% Cu. It should also be noted that the assay results for iron ore are still awaited. The original assays were based on ICP (Inductivity Coupled Plasma Spectrometry) elemental analysis and several intervals were above the detection limits for this process which is set at 15% iron (Fe). The samples are now being assayed by XRF (X-Ray Refraction) analysis and the results will be released once received.

Highlights of the drill results include (detailed drill results are shown in the table below):

- Hole AR-SLJE-0093 which returned 61.52 metres of 0.60% Cu, 0.09% Ni and 0.14 g/t Au;

- Hole AR-SLJE-0095 which returned 56.41 metres of 0.69% Cu, 0.07% Ni and 0.11 g/t Au;

- Hole AR-SLJE-0097 which returned 96.91 metres of 0.56% Cu, 0.07% Ni and 0.12 g/t Au;

- Hole AR-SLJE-0099 which returned 66.00 metres of 0.77% Cu, 0.08% Ni and 0.14 g/t Au;

- Hole AR-SLJE-0102 which returned 47.00 metres of 0.85% Cu, 0.07% Ni and 0.11 g/t Au; and

- Hole AR-SLJE-0103 which returned 70.00 metres of 0.45% Cu, 0.08% Ni and 0.11 g/t Au and a further 54.00 metres of 0.53% Cu, 0.03% Ni and 0.03 g/t Au; including 19.00 metres at 1.00% Cu

Commenting on these results, Mr. Patrick Downey, President and CEO of Aura Minerals Inc., stated, "We are extremely pleased with these first phase infill results. The deposit is showing excellent continuity with the previous model and we are particularly excited about the potential for a zone of higher-grade mineralization as this would greatly enhance project economics. Furthermore, the drilling shows good potential to extend the mineralization beyond the current resource envelope. We also look forward to receiving the iron assays from these drill holes as this will further enhance the "in-ground" metal value."



---------------------------------------------------------------------------
UTM 24 S SAD 69 Total Inter- Cu
Length From To val(1) (2)
Hole # North East (metres)(metres)(meters)(metres) (g/t) Au (3) Ni
---------------------------------------------------------------------------
AR-
SLJE-
0090 8930646.20 748658.84 53.00 2.00 19.00 17.00 0.33 NSV 0.07
---------------------------------------------------------------------------
28.54 36.44 7.90 0.45 0.14 0.08
---------------------------------------------------------------------------
AR-
SLJE-
0091 8930646.50 748759.00 76.40 49.00 75.00 26.00 0.64 0.13 0.06
---------------------------------------------------------------------------
AR-
SLJE-
0092 8930596.20 748659.13 64.00 12.00 48.85 36.85 0.41 0.11 0.08
---------------------------------------------------------------------------
AR-
SLJE-
0093 8930596.50 748759.20 97.00 34.53 96.05 61.52 0.60 0.14 0.09
---------------------------------------------------------------------------
AR-
SLJE-
0094 8930496.50 748659.34 82.00 0.00 73.67 73.67 0.43 NSV 0.06
---------------------------------------------------------------------------
AR-
SLJE-
0095 8930496.40 748759.37 130.49 29.16 85.57 56.41 0.69 0.11 0.07
---------------------------------------------------------------------------
99.00 126.00 27.00 0.51 0.09 0.07
---------------------------------------------------------------------------
AR-
SLJE-
0096 8930396.20 748659.72 66.00 6.13 12.00 5.87 0.34 0.10 0.07
---------------------------------------------------------------------------
15.55 20.00 4.45 0.32 NSV 0.04
---------------------------------------------------------------------------
25.00 64.84 39.84 0.43 0.10 0.06
---------------------------------------------------------------------------
AR-
SLJE-
0097 8930396.30 748759.77 125.50 27.68 124.59 96.91 0.56 0.12 0.07
---------------------------------------------------------------------------
AR-
SLJE-
0098 8930291.50 748659.97 135.95 38.00 88.00 50.00 0.60 0.13 0.09
---------------------------------------------------------------------------
AR-
SLJE-
0099 8930306.60 748760.17 126.60 47.00 113.00 66.00 0.77 0.14 0.08
---------------------------------------------------------------------------
AR-
SLJE-
0100 8930296.10 748509.93 95.55 43.18 94.55 51.37 0.52 0.10 0.05
---------------------------------------------------------------------------
AR-
SLJE-
0101 8930296.20 748831.41 231.43 4.00 28.00 24.00 0.54 0.16 0.08
---------------------------------------------------------------------------
157.00 180.00 23.00 0.47 NSV 0.04
---------------------------------------------------------------------------
209.00 225.30 16.16 0.32 NSV 0.03
---------------------------------------------------------------------------
AR-
SLJE-
0102 8930196.70 748741.63 184.70 4.00 27.00 23.00 0.40 0.12 0.07
---------------------------------------------------------------------------
64.00 111.00 47.00 0.85 0.11 0.07
---------------------------------------------------------------------------
164.00 174.00 10.00 0.39 NSV 0.03
---------------------------------------------------------------------------
AR-
SLJE-
0103 8930196.90 748816.45 244.33 10.00 80.00 70.00 0.45 0.11 0.08
---------------------------------------------------------------------------
155.00 209.00 54.00 0.53 NSV 0.03
---------------------------------------------------------------------------
(1) true width has yet to be determined
(2) using a copper cutoff grade 0.2%
(3) NSV equals no significant values


Cash Investments

Aura Minerals has no exposure to any asset-backed commercial paper (ABCP) investments. The Company currently has approximately C$95 million in cash and marketable securities. The cash and equivalents are held with major Canadian financial institutions as short-term deposits and banker's acceptance notes, both with the highest possible investment ratings.

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.

About Aura Minerals Inc.

Aura Minerals is a Canadian exploration company focused on the acquisition and development of mineral deposits in Brazil and 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.

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

Contact Information