Aurea Mining Inc.

Aurea Mining Inc.

February 03, 2006 18:46 ET

Aurea Mining Inc. Completes Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 3, 2006) -


Aurea Mining Inc. ("Aurea") (TSX VENTURE:MXA) is pleased to announce that it has completed its non-brokered private placement announced on January 18, 2006. The placement consisted of up to 5,410,000 units at a price of $0.25 per unit for gross proceeds of up to $1,352,500. Each unit consists of one common share and one common share purchase warrant. Each warrant will be exercisable into one common share of Aurea at a price of $0.35 for a period of one year from the date of issuance. The terms of the warrants also provide that if the closing price of the common shares of Aurea is at least $0.60 for ten consecutive trading days, Aurea may issue a notice to warrantholders requiring them to exercise all warrants within 30 days or the warrants will expire. Aurea paid finder's fees of $53,250 to various finders, representing a fee of 7% of the gross proceeds realized by Aurea from the issuance of units to purchasers introduced by such finders. The securities issued under the private placement are subject to four month hold periods expiring on June 1, 2006 and June 4, 2006.

The proceeds of the private placement will be used to fund exploration of Aurea's mineral properties, within the Guerrero Gold Belt in the State of Guerrero, Mexico and to repay indebtedness to three companies controlled by directors of Aurea, as announced on November 4, 2005.

Aurea Mining Inc., via its wholly-owned subsidiary headquartered in Mexico City, is exploring for gold within its strategic land position in the area of southern Mexico, known as the Guerrero Gold Belt in the State of Guerrero, Mexico.

On behalf of the Board of Directors

Richard Whittall, President and Chief Executive Officer

This news release may contain forward-looking statements regarding future exploration programs and events. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Aurea Mining Inc.
    Richard Whittall
    President and Chief Executive Officer
    (604) 806-6110
    (604) 806-6112 (FAX)