Auriga Gold Corp.
TSX VENTURE : AIA

Auriga Gold Corp.

April 10, 2012 06:00 ET

Auriga Gold Completes VTEM Survey and Identifies Several High-Priority Exploration Targets Along Regional Structure

TORONTO, ONTARIO--(Marketwire - April 10, 2012) - Auriga Gold Corp. (TSX VENTURE:AIA) (Auriga Gold or the Company) is pleased to announce the completion of an airborne Versatile Time Domain Electro Magnetic ("VTEM") and magnetic survey covering the entire 66 km2, 100%-owned, Maverick Gold Project, near Flin Flon, Manitoba. The 886 line kilometre survey was completed by Geotech Ltd. of Newmarket, Ontario.

Preliminary results from the VTEM survey identify a number of significant and previously untested conductive anomalies along the regional mineralized structure that host the Puffy Lake and Nokomis Deposits. Further, the identified anomalies display similar characteristics in size and geophysical response to the anomalies associated with the Puffy Lake and Nokomis Deposits.

Richard Sutcliffe, Auriga Gold's President and CEO commented, "The EM results from this survey are very encouraging because they define several untested anomalies that show similar characteristics to the response associated with the known gold mineralization at Puffy and Nokomis. The EM results allow us to outline priority drill targets on the well-defined magnetic trend that characterizes the northern boundary of the Flin Flon Greenstone belt, a regional structure that is a host for numerous gold deposits and occurrences."

The VTEM survey results are currently being reviewed by a geophysical consultant to the Company. The interpretation will be used as the basis of a geological and prospecting program in late May, followed by a drill program to test the priority targets.

Please visit www.aurigagold.ca/s/maverickgold.asp to view the VTEM survey.

Qualified Person

The Company's Qualified Person ("QP") for drilling programs and the recently completed VTEM survey on the Maverick Gold Project is Bruce Mackie, P.Geo. As QP, Mr. Mackie, a professional geologist, has reviewed and verified the technical content of the information contained in this release and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101.

About Auriga Gold

Auriga Gold Corp. is a Canadian mine development and exploration company focused on developing the Puffy Lake Mine and expanding gold resources on its Puffy Lake and Nokomis deposits (the "Maverick Gold Project"). The Company plans to work toward upgrading and expanding the resources at the Maverick Gold Project, initiate test mining, complete feasibility studies of mineral reserves, and bring the Puffy Lake Mine back into production. The Puffy Lake Mine includes a 1,000 tpd flotation mill, a developed underground ramp to 135 metres depth, is fully road accessible and close to existing mining infrastructure. The Maverick Gold Project is located in the Flin Flon Greenstone Belt of Central Manitoba.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the closing of the second tranche of the private placement financing, use of proceeds, the future develop the Maverick Gold property and move towards targeted open pit test mining. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's Management's Discussion and Analysis for the Three and Six Months ended September 30, 2011, available on www.sedar.com. Although Auriga Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Auriga Gold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

Contact Information