Aura Silver Resources Inc.

Aura Silver Resources Inc.

June 11, 2008 16:01 ET

Aura Silver Completes Private Placement Financing With the MineralFields Group

OTTAWA, ONTARIO--(Marketwire - June 11, 2008) - Aura Silver Resources Inc. (TSX VENTURE:AUU) (the "Company" or "Aura Silver") announces the completion of a private placement of $500,000 through the issuance of 2,941,175 flow-through units (the "FT Units") at $0.17 per FT Unit to the MineralFields Group. The FT Units are comprised of one flow-through common share and one-half share purchase warrant for a non-flow-through common share. Each whole warrant is exercisable at $0.40 on or before June 11, 2009 and at $0.60 on or before June 11, 2010. The common shares and warrants are subject to hold periods expiring on October 12, 2008. The Company paid a finder's fee consisting of $30,000 in cash and provided compensation options entitling the holder to purchase 205,882 non-flow-through units at an exercise price of $0.17 per unit on or before June 11, 2010. Each non-flow-through unit is comprised of one non-flow-through common share and one-half share purchase warrant with each whole warrant having the same terms as above.

"We are pleased to be entering into this financing relationship with MineralFields Group to enable us to further explore our Greyhound Lake property holdings" said Robert Boaz, President and CEO of Aura Silver. The proceeds of this financing will fully fund the 2008 program costs for the Greyhound Lake property covering a relatively unexplored Archean greenstone belt north of Baker Lake, Nunavut. As previously announced, the Company recently completed a staking program adjacent to its wholly-owned claims at Greyhound Lake which has, potentially, more than doubled its land position to 24,000 hectares. This was precipitated by an intensive analysis of additional data received last year and in early 2008. The Company expects to have an airborne EM/Magnetic survey flown over the enlarged land position in July followed by detailed prospecting of conductive zones and known showings in August.

Mr. Paul Pitman, P. Geo is the Qualified Person for Aura Silver under National Instrument 43-101.

About Aura Silver

Aura Silver 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 38,208,902 common shares outstanding.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.


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 not approved or disapproved of the information contained in this press release.

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