Aurea Mining Inc.

Aurea Mining Inc.

August 14, 2007 09:30 ET

Aurea Mining Inc. Finalizes Option Agreement for the Monte Alban Property, Taviche Mining District, Oaxaca State, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2007) -


Aurea Mining Inc. ("Aurea" or "the Company") (TSX Venture:MXA)(FRANKFURT:A9M) is pleased to announce that it has entered into a definitive Option Agreement ("the Agreement") to acquire a 100% interest in a 2,805 hectare mineral concession (the "Monte Alban" property) in Oaxaca State, Mexico. The Monte Alban property is located in the historic Taviche gold and silver mining district, 32 kilometres southeast of the City of Oaxaca, Mexico.

The property is known historically for high grade gold-silver mineralization hosted in a system of epithermal quartz veins and hydrothermal breccias. Surface assay results released on August 8, 2007 have confirmed gold mineralization from 43 surface samples over the San Jorge Vein System which averaged 2.17 gm/tonne gold and 41.66 gm/tonne silver over a strike length of 1,100 metres. Sample widths averaged 10 (ten) metres. Results from 439 samples from surface and underground workings are currently pending from ALS Chemex laboratories in Vancouver. Infill channel sampling and trenching will follow up on these results and a drill program is set to begin this month.

The property consists of a group of seven contiguous claims, the largest of which, Monte Alban I, is a 2,641 hectare claim that was part of a mineral reserve auctioned by the Mexican government and is currently subject to a 3% NSR royalty payable to the government. All six remaining claims cover the bulk of the past producing mines on the property and are not subject to a NSR royalty.

The final terms of the Agreement specify a schedule of payments to the vendor over a five year period, including a consideration of US $65,000 that was paid on signing of the original Letter of Intent ("LOI") dated May 21, 2007, and US $100,000 on signing of the Agreement. The Agreement contains the following payment schedule: a first option payment of US $75,000 due at the end of the due diligence period; US $350,000 which is due on the first anniversary; US $500,000 which is due on the second anniversary; US $1,000,000 which is due on the third anniversary; and US $1,500,000 which is due on the fourth anniversary. A final payment of US $2,510,000 is due on the fifth anniversary, at which time Aurea assumes 100% title to all claims within the Monte Alban property. The Agreement replaces the LOI. A recoverable 15% Mexican value-added tax (IVA) is additional to these payments.

Aurea Mining Inc. is focused on gold exploration in Mexico, and the addition of the Monte Alban property represents a significant opportunity in the historic Oaxaca precious metals camp. The Company also controls a 100% interest in over 80,000 hectares of contiguous mineral claims strategically located in the emerging Guerrero Gold Belt of Guerrero State, Mexico. The Guerrero Gold belt currently has a 12 million ounce gold inventory and is being explored and developed by several major mining companies. Aurea is actively exploring and drilling their Guerrero projects, and continues with their goal of building shareholder value through exploration and discovery.

Ken Thorsen, a director of the Company, is the qualified person under NI 43-101 for Aurea Mining; and has reviewed and approved the contents of this news release.

On behalf of the Board of Directors

Richard Whittall, President & C.E.O.

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