Aura Silver Resources Inc.

Aura Silver Resources Inc.

May 29, 2012 10:47 ET

Aura Silver Raising Up to $500,000 in Private Placement Financing

OTTAWA, ONTARIO--(Marketwire - May 29, 2012) -


Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") announces that it intends to raise up to a maximum of $500,000 by way of a non-brokered private placement of units. Each unit will consist of one common share and one common share purchase warrant (the "Units"). Each Unit will be offered at a price of $0.05 per Unit. Each Unit will contain a whole warrant to be exercisable for a period of two years from the closing of the offering at $0.10 per common share. This offering of Units would give rise to the issuance of a maximum of 10,000,000 Units.

It is anticipated that officers and directors of the Company will participate in the offering.

The Units issued will be subject to a four month hold period from the closing date of the private placement offering. Finder's fees may be payable in connection with this private placement in accordance with TSX Venture Exchange policy. This offering is subject to TSX Venture Exchange acceptance.

Aura Silver intends to use the proceeds of this offering to fund exploration program costs at the Company's East Taviche and Alma Delia properties in Oaxaca, Mexico and for working capital and general corporate requirements.

The offered securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.

About Aura Silver

Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada (100% owned Greyhound project) and in Oaxaca, Mexico. Aura Silver has 97,680,844 common shares outstanding.


This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, the private placement financing activities of the Company, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at Aura Silver does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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