Aura Silver Resources Inc.

Aura Silver Resources Inc.

June 11, 2007 08:45 ET

Aura Silver Resources Inc. Closes Private Placement

BRAMPTON, ONTARIO--(Marketwire - June 11, 2007) - Aura Silver Resources Inc. (TSX VENTURE:AUU) (the "Company" or "Aura Silver") has completed its previously announced non-brokered private placement of units. A total of 4,675,000 units were sold raising gross proceeds of approximately US $1,870,000. Each unit consists of one common share and one-half common share purchase warrant (the "Units"). Each Unit was offered at a price of US $0.40 (CDN $0.44). Common shares issued with respect to this private placement have a four month hold period expiring October 9, 2007. Final acceptance of the TSX Venture Exchange has been received.

A total of 2,337,500 warrants are issuable and expire June 8, 2009. Each whole warrant is exercisable at US $0.60 (CDN $0.66) per common share. Additionally, the warrants are callable, at the option of the Company should the Company's common shares trade above CDN $1.20 for twenty consecutive trading days. Subscribers will be notified of the call provision being triggered and will have a 30 day period to exercise the warrants. Potential proceeds from the future exercise of warrants totals US $1,402,500.

Aura Silver intends to use the proceeds of this offering to fund further exploration programs at the Company's Taviche property in Oaxaca, Mexico held under option with Intrepid Mines from Pan American Silver Corporation; for the potential acquisition and funding of exploration projects in the Silver Valley, Idaho, USA; and, for general working capital requirements.

"We are pleased with the significant interest from investors in this placement and our Company" stated Jeffrey Klenda, Chief Executive Officer of Aura Silver. Paul Pitman, President of Aura Silver noted "We now have the funds required to achieve significant progress with our Taviche, Mexico Project. We will soon be in a position to provide new and existing shareholders with updates as we are scheduled to commence a significant drill program on the West Taviche concession in late July 2007".

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. Upon the completion of this private placement the Company has 33,390,567 common shares outstanding.


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 neither approved nor disapproved the information contained in this press release.

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