Auriga Gold Corp.
TSX VENTURE : AIA

Auriga Gold Corp.

April 30, 2012 09:11 ET

Auriga Gold Continues to Expand Mineralization at Puffy and Nokomis Deposits, Manitoba; Engages A.C.A Howe to Complete Nokomis Resource Estimate

TORONTO, ONTARIO--(Marketwire - April 30, 2012) - Auriga Gold Corp. (TSX VENTURE:AIA) ("Auriga" or the "Company") announces additional drilling results from the Nokomis and Puffy Deposits on the Maverick Gold Project ("Maverick Gold"), located 65 km northeast of Flin Flon, Manitoba. Auriga's drilling at Nokomis will be used along with drill holes by previous operators to complete an initial NI43-101 resource estimate expected in the third quarter of 2012. A.C.A. Howe International Inc. has been engaged to complete the study.

Intersections at the Nokomis Deposit include A4-18 with two 1.0 m intersects of 13.72 and 11.64 g/t gold, A4-14 with 6.0 m of 2.79 g/t gold, and hole A4-16 with 1.46 m of 4.89 g/t Au. Previous assays included A4-02 with 7.63 m of 125.1g/t gold (see March 1, 2012 release). At the Puffy Deposit, Auriga intersected multi-ounce gold, over narrow intercepts at the south end of the deposit. Assays on additional holes from the winter program at the Puffy deposit are pending.

Richard Sutcliffe, Auriga's CEO stated, "The Nokomis drilling has defined a zone of consistent near-surface high-grade mineralization. Following a NI43-101 resource estimate, the Company plans to evaluate the deposit for open pit mining as part of a strategy of defining low-cost shallow resources on the Maverick mineralized trend. The Nokomis Deposit is located only 7 km northeast of the Maverick mill and could potentially contribute significantly more near surface ore for our proposed mining operation evaluated in the preliminary economic assessment."

Maverick Gold Project - Puffy and Nokomis Deposits
HOLE ID EASTING NORTHING ELEV AZIMUTH DIP FROM TO (m) INTERVAL (m) AU GPT
PUFFY PROPOSED PIT 1 SOUTH EXTENSION
A3-93 373622 6099873 345 235 -55 no significant assays
A3-94 373620 6099905 345 360 -90 51.50 51.75 0.25 94.35
A3-95 373620 6099905 345 235 -55 47.86 47.99 0.13 48.68
A3-96 373578 6099875 345 360 -90 no significant assays
NOKOMIS DEPOSIT
A4-05 380009 6103913 320 300 -85 no significant assays
A4-06 380009 6103934 320 360 -90 35.79 38.54 2.75 1.12
A4-07 380040 6103930 320 360 -90 53.42 56.11 2.69 1.04
A4-09 380079 6103966 320 360 -90 27.14 28.14 1.00 0.94
A4-10 380091 6103989 320 360 -90 39.06 40.12 1.06 5.46
A4-14 380142 6104134 320 360 -90 35.39 41.39 6.00 2.79
A4-15 380156 6104178 320 360 -90 44.05 46.05 2.00 1.81
A4-16 379997 6103960 320 360 -90 25.29 26.75 1.46 4.89
A4-17 380020 6103979 320 360 -90 19.81 28.29 8.48 1.18
A4-18 380220 6103925 320 360 -90 166.95 167.95 1.00 13.72
and 171.80 172.80 1.00 11.64
A4-19 380235 6103998 320 360 -90 149.58 150.58 1.00 8.25

The results reported in this release complete the confirmation drilling program at the Nokomis Deposit with 19 drill holes for a total of 1300 m. Drill holes all intersected mineralization except for hole A4-05, which encountered a post-mineralization dyke. Holes A4-05 to 17 tested the shallow upper zone of mineralization. Holes A4-18 and 19 successfully confirmed the offset down dip extension of the Nokomis Deposit.

For detailed drill hole location maps for both the Puffy and Nokomis deposits, as well as updated images of the Puffy Lake Mill, please visit www.aurigagold.ca.

About Auriga Gold

Auriga Gold Corp. is a Canadian mine development and exploration company focused on developing the Puffy Mine and expanding gold resources on its Puffy and Nokomis Deposits (the "Maverick Gold Project"). The Company plans to work towards upgrading and expanding the resources at the Maverick Gold Project, initiate test mining, complete feasibility studies of mineral reserves, and bring the Puffy Mine back into production. The Puffy 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.

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 Offerings, 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.

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