SOURCE: Auric Mining Company

October 06, 2010 08:30 ET

Auric Mining Encouraged by Sample Results

WILMINGTON, DE--(Marketwire - October 6, 2010) - Auric Mining Corp. (PINKSHEETS: AUMY) (the "Company") owns 7,000 acres of exploration property containing 4 claim blocks with 160 claims each around Dog Lake north and east of Wawa, Ontario, a prolific gold and diamond mining exploration region in the Canadian Shield.

The company has been very encouraged by the recent discoveries and activity in the Wawa area. Staking, aerial surveys and ground accumulation activities have continued to increase due to significant mineral discoveries. Encouraged by the recent Dianor Resources discovery of a 1.8 ct diamond on a nearby property, Auric has requested and received reports from both Geoanalytical Laboratories SRC in Saskatoon and SGS Lakefield Research Limited on rock samples taken from the Company's Dog Lake property. 

Two separate samples of material were taken from the property and one sample each was submitted to the aforementioned Labs for analysis. Both samples were small with the first weighing 2.35 KG and the second 19.8 KG. The 19.8 KG sample showed a total of 288 micro-diamonds collected in a 150-mesh screen while the second sample of 2.35 KG showed 19 micro-diamonds in a 106 micron sieve. Management was very encouraged by these results and has requested and received a Mineral Exploration Budget Proposal from a qualified field geologist to commence the next phase of testing. The plan calls for 4 prospectors to be on the property for up to 120 days.

Auric's CEO, Mr. Brian Stewart, commented, "We are pleased with the initial testing and are very encouraged to continue our field work. Geologically speaking, we are in the same rock formation and trend as other major discoveries made by Dianor Mining and hope to confirm the geological structures are also the same as other diamond discoveries." 

The global market for diamond consumption has been increasing and based on current Production rates, a shortage of supply is anticipated, which is expected to increase the potential for profits in the diamond industry. Recent forecasts suggest that new demand from Asia and the Middle East will continue to drive consumption beyond current production rates. Canada now accounts for over 40% of world diamond exploration and could potentially host more economically viable diamond deposits. Auric recognizes the potential associated with discovering Canada's next large diamond mine and is well positioned to seize that opportunity. Global retail sales of diamonds are approximately US$40 billion, with an average price paid per piece of approximately $800.

About Auric Mining Corp.:
Auric Mining Company (Auric or the Company) is an investment and management company focused on the mining sector and natural resources projects. The Company utilizes its resources by investing in on-going projects to establish immediate cash-flow for the company and provides profitability for its shareholders. Auric performs extensive research through numerous databases of public natural resources companies who have substantial findings already proven. Auric will invest in these companies in exchange for shares and revenue sharing. The Company is constantly seeking acquisition opportunities with significant exploration upside in the form of entire companies or packages of assets that provide an undeniable possibility of hosting base and precious metal mineralization. The Company possesses an unparalleled ability to identify successful mineral projects and uses a field-oriented management style with a flat organizational structure. Therefore, the Company has the ability to concentrate its financial assets, human resources and field efforts, provide timely decisions and maintain a continued focus on the most prospective targets with sovereign agility and promptitude.

The company is currently focused on developing its properties in the Wawa area of the Sault Ste. Marie Mining District in Ontario. In addition to its prolific history for gold mining, Wawa has shown promising signs of concentrated kimberlite indicators, a favorable geological formation for diamond exploration. The company has a number of claims strategically located in this historic mining district. We have taken significant effort to assure our shareholders and potential investors that the properties we explore deserve investment of time, effort and financial commitment necessary to establish successful mineral production in the future. For more information please visit www.auricminingcorp.com 

Forward-looking Statement:

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at Auric Mining's stage of development. All such forward looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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