Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

November 14, 2007 21:01 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is very pleased to report results of the second batch ("Batch 2") of diamond drill holes from the first phase infill program on its 100%-owned Arapiraca development project ("Arapiraca Project") in Alagoas State, Brazil. Certain of these results are from step-out holes in zones to the east and west of the Serrote da Laje deposit (the "Deposit"). These results show that the Deposit is still open in these zones which are outside of the main "magnetic high" target area. This work forms part of a planned 20,000-30,000 metre program which will infill the previous drilling carried out on the 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 (to view attached drill location maps, please click on the following link: http://www.ccnmatthews.com/docs/AuraMap.pdf).

The Company is also pleased to report that iron assays have now been received for the first 14 drill holes ("Batch 1") for which results for copper, gold and nickel were previously released under the Company's News Release #2007-15, dated September 4, 2007. Due to differences received subsequently in the standards and check assays for copper for Batch 1, the Company completed a full re-assay, including standards and checks, for copper using Atomic Absorption ("AA") which produced a much better correlation on all assays. The Company is very pleased to report that this has resulted in a total overall average increase of 18% in copper grade for these Batch 1 holes.

It should be noted that all the iron grades reported are averaged over the same interval as copper and, in certain cases, since copper mineralization occurs outside of the massive magnetic zone, the overall iron grade over that same interval is lowered.

Results to date have confirmed excellent continuity of mineralization and further potential to expand the known resource.

Batch 1 - Highlights of Iron and restated Copper results (detailed drill results are shown in Table 1 below):

- Hole AR-SLJE-0092 which returned 36.85 metres of 0.56% Cu and 20% Fe;

- Hole AR-SLJE-0093 which returned 61.52 metres of 0.76% Cu and 21% Fe;

- Hole AR-SLJE-0095 which returned 56.41 metres of 0.77% Cu and 19% Fe;

- Hole AR-SLJE-0097 which returned 96.91 metres of 0.74% Cu and 21% Fe;

- Hole AR-SLJE-0098 which returned 50.00 metres of 0.69% Cu and 23% Fe;

- Hole AR-SLJE-0099 which returned 66.00 metres of 0.91% Cu and 13% Fe;

- Hole AR-SLJE-0102 which returned 23.00 metres of 0.45% Cu and 21% Fe and a further 47.00 metres of 0.92% Cu and 19% Fe; and

- Hole AR-SLJE-0103 which returned 70.00 metres of 0.49% Cu and 21% Fe and a further 54.00 metres of 0.56% Cu and 9% Fe.

Batch 2 - Highlights of New Drill Results (detailed drill results are shown in Table 2 below):

- Hole AR-SLJE-0104 which returned 14.00 metres of 1.54% Cu, 0.31 g/t Au, 0.07% Ni and 19% Fe;

- Hole AR-SLJE-0109 which returned 5.19 metres of 3.39% Cu, 0.18 g/t Au, 0.15% Ni and 15% Fe and a further 41.73 metres of 0.97% Cu, 0.12 g/t Au, 0.06% Ni and 13% Fe;

- Hole AR-SLJE-0113 which returned 48.12 metres of 0.68% Cu, 0.11 g/t Au, 0.09% Ni and 21% Fe;

- Hole AR-SLJE-0114 which returned 26.90 metres of 0.73% Cu, 0.18 g/t Au, 0.08% Ni and 19% Fe;

- Hole AR-SLJE-0115 which returned 154.43 metres of 0.41% Cu, 0.06 g/t Au, 0.05% Ni and 13% Fe: and

- Hole AR-SLJE-0116 which returned 55.00 metres of 0.80% Cu, 0.17 g/t Au, 0.03% Ni and 9% Fe.

Commenting on these results, Mr. Patrick Downey, President and CEO of Aura Minerals Inc., stated, "We are very pleased to report on these new results. The higher grade copper adds significant value to the project as it could be mined in the early years of operation. Furthermore, these higher copper grades coincide with some of the higher grades of iron, nickel and gold within the deposit which should enhance project economics. The second batch of drill results continues to confirm the CVRD model and has also expanded the project to the east and west zones, both of which remain open and exhibit intervals of high grade copper and gold, with significant iron credits."



Table 1 - Batch 1- Restated Copper Assays and New Iron Assays for Holes
SLJE-0090 - SLJE0103

--------------------------------------------------------------------------
Inter-
Total val Cu
UTM 24 S SAD 69 Length From To (1) (2) Fe
--------------- (met- (met- (met- (met- (5) (6)
Hole # North East res) res) res) res) (%) (%)
--------------------------------------------------------------------------
AR-SLJE-0090 8930646 748658 53.00 2.00 19.00 17.00 0.42 16
--------------------------------------------------------------------------
28.54 36.44 7.90 0.59 20
--------------------------------------------------------------------------
AR-SLJE-0091 8930646 748759 76.40 49.00 75.00 26.00 0.75 15
--------------------------------------------------------------------------
AR-SLJE-0092 8930596 748659 64.00 12.00 48.85 36.85 0.56 20
--------------------------------------------------------------------------
AR-SLJE-0093 8930596 748759 97.00 34.53 96.05 61.52 0.76 21
--------------------------------------------------------------------------
AR-SLJE-0094 8930496 748659 82.00 0.00 73.67 73.67 0.50 18
--------------------------------------------------------------------------
AR-SLJE-0095 8930496 748759 130.49 29.16 85.57 56.41 0.77 19
--------------------------------------------------------------------------
99.00 126.00 27.00 0.57 17
--------------------------------------------------------------------------
AR-SLJE-0096 8930396 748659 66.00 6.13 12.00 5.87 0.40 23
--------------------------------------------------------------------------
15.55 20.00 4.45 0.38 18
--------------------------------------------------------------------------
25.00 64.84 39.84 0.52 19
--------------------------------------------------------------------------
AR-SLJE-0097 8930396 748759 125.50 27.68 124.59 96.91 0.74 21
--------------------------------------------------------------------------
AR-SLJE-0098 8930291 748659 135.95 38.00 88.00 50.00 0.69 23
--------------------------------------------------------------------------
AR-SLJE-0099 8930306 748760 126.60 47.00 113.00 66.00 0.91 13
--------------------------------------------------------------------------
AR-SLJE-0100 8930296 748509 95.55 43.18 94.55 51.37 0.62 8
--------------------------------------------------------------------------
AR-SLJE-0101 8930296 748831 231.43 4.00 28.00 24.00 0.64 5
--------------------------------------------------------------------------
157.00 180.00 23.00 0.52 7
--------------------------------------------------------------------------
209.00 225.30 16.16 0.40 9
--------------------------------------------------------------------------
AR-SLJE-0102 184.70 4.00 27.00 23.00 0.45 21
--------------------------------------------------------------------------
64.00 111.00 47.00 0.92 19
--------------------------------------------------------------------------
164.00 174.00 10.00 0.45 9
--------------------------------------------------------------------------
AR-SLJE-0103 8930196 748816 244.33 10.00 80.00 70.00 0.49 21
--------------------------------------------------------------------------
155.00 209.00 54.00 0.56 9
--------------------------------------------------------------------------


Table 2 - Batch 2 - Assays for Holes SLJE-0104 - SLJE-0137

---------------------------------------------------------------------------
Inter-
Total val Cu Au
UTM 24 S SAD 69 Length 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-0104 748960 8930197 142.01 47.00 61.00 14.00 1.54 0.31 0.07 19
---------------------------------------------------------------------------
AR-SLJE-0106 748811 8930097 221.03 31.00 52.70 21.70 0.38 0.05 0.04 15
---------------------------------------------------------------------------
89.00 99.00 10.00 0.50 0.12 0.09 23
---------------------------------------------------------------------------
101.51 114.30 12.79 0.58 0.08 0.06 17
---------------------------------------------------------------------------
AR-SLJE-0107 748960 8930097 255.96 36.00 55.00 19.00 0.76 0.18 0.10 20
---------------------------------------------------------------------------
63.00 79.00 16.00 0.52 0.13 0.06 16
---------------------------------------------------------------------------
127.00 150.00 23.00 0.51 0.08 0.06 16
---------------------------------------------------------------------------
219.00 229.00 10.00 0.52 0.14 0.08 24
---------------------------------------------------------------------------
AR-SLJE-0108 749111 8930097 158.15 78.00 86.00 8.00 1.73 0.16 0.03 4
---------------------------------------------------------------------------
117.00 129.00 12.00 0.82 0.07 0.02 7
---------------------------------------------------------------------------
78.00 129.00 51.00 0.50 0.05 0.01 4
---------------------------------------------------------------------------
AR-SLJE-0109 749060 8930047 342.95 87.31 92.50 5.19 3.39 0.18 0.15 15
---------------------------------------------------------------------------
112.27 154.00 41.73 0.97 0.12 0.06 13
---------------------------------------------------------------------------
AR-SLJE-0110 748760 8929996 203.07 81.00 89.36 8.36 1.25 0.23 0.10 18
---------------------------------------------------------------------------
174.00 185.00 11.00 0.85 0.09 0.07 11
---------------------------------------------------------------------------
AR-SLJE-0111 749211 8930098 209.44 128.16 140.00 11.84 1.47 0.04 0.04 5
---------------------------------------------------------------------------
173.25 185.37 12.12 0.22 0.04 0.04 16
---------------------------------------------------------------------------
AR-SLJE-0112 749161 8930047 197.95 113.29 127.67 14.38 0.68 NSV 0.02 4
---------------------------------------------------------------------------
158.00 187.00 29.00 0.29 NSV 0.03 9
---------------------------------------------------------------------------
AR-SLJE-0113 748661 8929996 180.40 128.81 176.93 48.12 0.68 0.11 0.09 21
---------------------------------------------------------------------------
AR-SLJE-0114 748860 8929997 203.45 169.00 195.90 26.90 0.73 0.18 0.08 19
---------------------------------------------------------------------------
AR-SLJE-0115 749011 8929997 276.47 79.37 234.00 154.63 0.41 0.06 0.05 13
---------------------------------------------------------------------------
117.00 127.00 10.00 1.37 0.10 0.06 11
---------------------------------------------------------------------------
170.00 184.00 14.00 0.82 0.16 0.14 27
---------------------------------------------------------------------------
AR-SLJE-0116 749111 8929997 264.76 132.00 187.00 55.00 0.80 0.17 0.03 9
---------------------------------------------------------------------------
132.00 147.34 15.34 1.47 0.38 0.03 8
---------------------------------------------------------------------------
162.00 174.00 12.00 0.97 0.23 0.03 10
---------------------------------------------------------------------------
AR-SLJE-0117 749211 8929998 242.28 162.13 220.00 57.87 0.43 0.04 0.02 9
---------------------------------------------------------------------------
180.00 189.00 9.00 0.72 0.06 0.04 12
---------------------------------------------------------------------------
191.00 203.00 12.00 0.88 0.06 0.04 14
---------------------------------------------------------------------------
AR-SLJE-0118 749310 8930148 181.36 113.69 127.00 13.31 0.96 0.05 0.02 5
---------------------------------------------------------------------------
AR-SLJE-0119 749260 8930198 183.04 100.38 110.00 9.62 1.16 0.16 0.02 6
---------------------------------------------------------------------------
AR-SLJE-0120 749160 8930198 199.8 170.73 189.65 18.92 0.55 0.06 0.04 10
---------------------------------------------------------------------------
AR-SLJE-0121 749060 8930197 210.2 78.00 104.55 26.55 0.58 0.07 0.03 11
---------------------------------------------------------------------------
141.00 164.00 23.00 0.41 0.06 0.07 13
---------------------------------------------------------------------------
176.00 196.00 20.00 0.46 0.06 0.05 12
---------------------------------------------------------------------------
AR-SLJE-0122 749060 8930297 201.07 61.00 66.00 5.00 0.69 0.04 0.03 9
---------------------------------------------------------------------------
107.00 124.00 17.00 0.71 NSV 0.03 10
---------------------------------------------------------------------------
AR-SLJE-0123 748859 8930397 203.31 135.00 145.00 10.00 0.29 0.04 0.05 11
---------------------------------------------------------------------------
AR-SLJE-0126 749160 8930398 181.71 97.73 111.73 14.00 0.57 0.09 0.05 10
---------------------------------------------------------------------------
51.79 58.00 6.21 0.41 0.12 0.08 18
---------------------------------------------------------------------------
AR-SLJE-0130 748560 8930096 196.03 33.00 42.90 9.90 1.04 0.15 0.11 21
---------------------------------------------------------------------------
49.29 52.61 3.32 0.88 0.10 0.08 15
---------------------------------------------------------------------------
AR-SLJE-0131 748660 8930097 190.07 144.00 158.00 14.00 0.52 NSV 0.02 9
---------------------------------------------------------------------------
144.00 171.00 27.00 0.40 NSV 0.02 8
---------------------------------------------------------------------------
AR-SLJE-0132 749411 8929998 207.66 189.77 202.00 12.23 1.72 0.14 0.02 4
---------------------------------------------------------------------------
AR-SLJE-0133 749511 8929948 232.89 206.12 219.55 13.43 0.59 0.07 0.01 2
---------------------------------------------------------------------------
AR-SLJE-0134 749611 8929948 245.29 222.00 229.00 7.00 0.25 NSV 0.01 3
---------------------------------------------------------------------------
AR-SLJE-0135 748711 8929896 191.76 125.56 160.04 34.48 0.51 0.08 0.07 16
---------------------------------------------------------------------------
177.00 188.90 11.90 0.74 0.17 0.11 21
---------------------------------------------------------------------------
AR-SLJE-0136 749011 8929897 261.07 134.00 142.00 8.00 0.46 NSV 0.02 11
---------------------------------------------------------------------------
179.61 211.96 32.35 0.66 0.13 0.10 20
---------------------------------------------------------------------------
AR-SLJE-0137 749111 8929897 247.40 189.00 211.00 22.00 0.85 0.04 0.03 10
---------------------------------------------------------------------------
148.36 153.00 4.64 1.11 0.11 0.06 11
---------------------------------------------------------------------------
(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


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.

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