Auriga Gold Corp.

Auriga Gold Corp.

November 17, 2011 11:08 ET

Auriga Gold Confirms New Mineralization on Trend at the Maverick Gold Project, Manitoba

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2011) - Auriga Gold Corp. (TSX VENTURE:AIA) ("Auriga Gold" or the "Company") is pleased to report final results from its Summer 2011 drilling program at the Company's Maverick Gold Project. The latest results identified similar high-grade gold mineralization to that of the Puffy Lake deposit and confirmed the opportunity to expand existing resources on strike. These results demonstrate the excellent potential for discovery of new resources beyond the Puffy Lake deposit along the greater than 20 km mineralized trend on the Company's property. The drill results reported here have been completed subsequent to the Company's NI43-101 resource announced in August 2011 (see press release dated August 4, 2011).

The objective of the latest drilling campaign was to test the continuity of mineralization strike and orientation at the Puffy Lake mine and confirm new targets on the greater property package for follow-up drilling this winter. The Maverick Gold Project, located 65 km northeast of Flin Flon, Manitoba, includes the past-producing Puffy Lake Mine and on-site mill, the adjacent Nokomis Property, and recently staked mining claims covering a total of 6,640 hectares (66.4 km2). The Company recently announced it has acquired the 46% minority interest held by Claude Resources Inc. in the Nokomis Property and now has a 100% interest in all properties under the Maverick Gold Project (see press release dated November 3, 2011).

In the current results, holes A3-42 and 43 continue to demonstrate continuity of gold mineralization on strike in the northern part of the Puffy Lake deposit with hole A3-43 intersecting 0.94 meters of 9.93 g/t gold. Hole A3-48 is particularly significant in that it is a pure exploration hole and intersected a narrow 0.50 meter wide zone at a grade of 23.68 g/t gold on the mineralized horizon 2 km south west of the Puffy lake deposit. Holes A3-51 to A3-63 are shallow holes that successfully expand near-surface mineralization in the Sherridon starter pit area of the Puffy Lake deposit. Hole A3-60 had the best intersection with 3.72 g/t gold over an interval of 4.35 meters.

Richard Sutcliffe, Auriga Gold's President and CEO commented, "We are particularly encouraged by the intersection of Puffy Lake style high-grade gold mineralization in drill hole A3-48 located 2 km south west of the Puffy Lake deposit. This intersection is on the opposite limb of the fold structure that hosts Puffy Lake and the results demonstrate the potential for generating new deposits on the gold mineralized trend at Maverick Gold."

A3-42 373360 6100705 360 -90 176.78 177.28 0.50 5.51
A3-43 373623 6100880 360 -90 355.02 356.06 0.94 9.93
A3-45 372940 6100860 360 -90 7.61 7.81 0.20 8.18
A3-48 372075 6100284 235 -60 335.65 334.15 0.50 23.68
A3-51 373443 6100540 360 -90 31.86 36.13 4.27 1.09
A3-53 373397 6100525 235 -45 4.30 6.67 2.37 1.45
A3-59 373548 6100457 360 -90 22.63 24.60 1.97 3.70
A3-60 373663 6100393 360 -90 39.05 43.40 4.35 3.72
incl. 39.05 40.90 1.85 3.63
and 41.90 43.40 1.50 6.16
A3-61 373352 6100644 360 -90 45.06 46.06 1.00 1.64
A3-63 373366 6100626 360 -90 40.80 42.80 2.00 2.47
Note: true intercept widths are currently estimated at 85-100% of drilled widths

Holes A3-44, 45, 46 were drilled to test the northern extension of near surface mineralization, however, only A3-45 intersected gold mineralization. Hole A3-47 was not drilled. Holes A3-55 to 58 were drilled in the Sherridon Pit area and did not intersect significant mineralization.

Exploration drilling at Maverick Gold will continue through the winter season with the intention of both upgrading and expanding existing NI 43-101 resources. As part of the program the Company is planning a 1,500 meter drilling program at the Nokomis deposit located 7 km northeast of the Puffy lake mill with particular emphasis on testing near surface mineralization.

A plan section showing the location of the diamond drill holes is available on the Company's website at

About Auriga Gold

Auriga Gold Corp. is a Canadian mining company focused on developing the Puffy Lake Mine and expanding gold resources on its Puffy Lake and Nokomis properties (the "Maverick Gold Project"). The Company plans to upgrade and expand 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.

Qualified Person

The Company's Qualified Person ("QP") for the drill program at the Maverick Gold Project is Bruce Mackie, P.Geo. As QP, Mr. Mackie has prepared or supervised the preparation of the scientific or technical information for the property and has verified the data disclosed in this press release.

Sample Preparation, Analyses and Security

The assay and sample information as well as geological descriptions are taken from drill logs as prepared by the project geologists for the drill program. All drill cores are NQTW in size and assays are completed on split or sawed half-cores, with the second half of the core kept for future reference. The samples are put into rice bags which are sealed with security locks for shipping directly to Accurassay Laboratories, an accredited assay laboratory, in Thunder Bay, Ontario. The samples are analysed using standard fire assay procedures with an AA/ICP finish, using 50g aliquots. Assay results greater than 2.50 gram per tonne will be rerun using a gravimetric finish. In addition to the standard quality control of the laboratory, a series of blanks and standards are inserted in every shipment for quality control purposes.

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable.

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.

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