Auracle Resources Ltd.
TSX VENTURE : AAL

Auracle Resources Ltd.

August 31, 2012 19:07 ET

Auracle Resources Ltd.: Private Placement-First Tranche Closure

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2012) - Auracle Resources Ltd. (the "Company") (TSX VENTURE:AAL) announced today that it has closed on $659,800 of its non-brokered private placement announced on August 21, 2012 by issuing 6,659,800 units at $0.10 per unit. Each Unit consisting of one common share and one transferable share purchase warrant, each warrant entitling the holder to acquire one additional common share for five years at the following exercise prices: (i) $0.20 for a period of 24 months; (ii) $0.30 if exercised after the second anniversary but on or before the third; (iii) $0.40 if exercised after the third anniversary but on or before the fourth; (iv) $0.50 if exercised after the fourth anniversary but on or before the fifth anniversary of the Closing.The offering jurisdictions for this Offering are British Columbia, Alberta, Ontario, as well as certain other provinces in Canada, United States, and offshore as mutually agreed. Net proceeds raised under the offering will fund exploration of the Company's assets in Arizona, USA and general working capital purposes. Finders fees agreed to of $58,480 and 584,800 non-transferable agents warrants. Finders' warrants are subject to the same terms as the financing.

The Common Shares, the Warrants, and the shares issuable upon the exercise of the Warrants, are subject to statutory resale restrictions until December 31, 2012. Closing of the second and final tranche of the financing is expected to occur on or about September 7, 2012 and remains subject to receipt of regulatory approval, including final approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS,

Robin Forshaw, President & CEO

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION

This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Neither 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.

Neither 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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