SOURCE: Auric Mining Company

October 08, 2010 10:00 ET

Auric Mining Signs LOI to Acquire Gold Property

WILMINGTON, DE--(Marketwire - October 8, 2010) -  Auric Mining Corp. (PINKSHEETS: AUMY) (the "Company") is pleased to announce that the Company has signed an LOI with the owner to acquire the claim rights of a property known as The Dolly Gold showing at Mari Lake in the Province of Saskatchewan, Canada. 

The location of the property is lying in a major known gold resource area with a history of gold mining over the past 50 years. Gold bearing trends may continue for miles with the right faulting and structure. Auric management has determined that this property warrants significant merit and financial resources due to the fact that it has proven to be gold bearing based on past exploration work.

In 1984 assays from 0.13 oz. over 2.4 meters to 1.28 oz. over 0.3 meters were recorded with many others ranging between. The best gold assay recorded was 2.48 oz. with no recorded width. These assays by today's standards especially spread over a 330 meter strike length are most impressive. Current technology and newer geology expertise can now focus on trends and process information that was previously missed using old technology and may reveal the source of this gold.

The length of the out crop and the type of quartz vein suggests a strong influence towards an anomolous occurrence that may contain a major source of mineralization. This is most exciting with today's soaring gold prices of well over USD$1,300 an oz. and increasing worldwide demand for the precious metal. Auric is very encouraged by the prospects of the Dolly Gold property which presents a very exciting and potentially significant source of revenue for the Company as a prospective gold producer in the future.

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

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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