Auriga Gold Corp.

Auriga Gold Corp.

March 01, 2012 14:55 ET

Auriga Gold Reports High-Grade Gold Intersections from Nokomis Deposit, Maverick Gold Project, Manitoba, Including Uncut Values Up to 1,830 g/t Over 0.5 m

TORONTO, ONTARIO--(Marketwire - March 1, 2012) - Auriga Gold Corp. (TSX VENTURE:AIA) ("Auriga Gold" or the "Company") today reports high grade gold intersections from initial drill results from the Nokomis deposit, Maverick Gold Project, Manitoba. Intersections included A4-02 with 7.63 meters grading 9.22 g/t gold (cut to 2 troy ounces/tonne), hole A4-03 with 5.20 m grading 12.27 g/t gold, hole A4-11 with 6.43 m grading 5.10 g/t gold, hole A4-12 with 5.55 m grading 9.55 g/t (cut). Uncut results included an assay of 1,830 g/t over 0.5 m in hole A4-02. The Nokomis deposit is located 7 km northeast of the Company's Puffy lake deposit and 1,000 tpd on-site mill with related infrastructure.

Richard Sutcliffe, Auriga Gold's President and CEO commented, "We are extremely pleased with the initial results of drilling at the Nokomis deposit. We have encountered some spectacular gold grades and wide intervals of mineralization. All of the intersections reported here are at depths of 63 meters or less and will be potentially amenable to open pit mining. The Nokomis deposit displays consistently wider intercepts than the adjacent Puffy Lake deposit and demonstrates the significant potential of the regional gold mineralized structure on the north boundary of the Flin Flon greenstone belt."

HOLE EASTING NORTHING AZ INCL FROM (m) TO (m) WIDTH (m) Au (gpt) Cut Au (gpt)*
A4-01 380144 6104099 360 -90 51.79 59.06 7.27 1.91
A4-02 380144 6104099 300 -60 39.85 47.48 7.63 125.08 9.22
incl. 45.35 46.48 1.13 820.28 37.94
incl. 45.35 45.85 0.50 1830.27
A4-03 380076 6104066 360 -90 8.74 13.94 5.20 12.27
A4-04 380104 6104054 360 -90 31.20 35.81 4.61 2.95
A4-11 380156 6104073 300 -85 56.76 63.19 6.43 5.10
A4-12 380156 6104073 300 -50 48.81 54.36 5.55 9.65 9.62
incl. 50.31 52.84 2.53 18.85 18.83
incl. 51.81 52.34 0.53 62.23
Note: true intercept widths are currently estimated at 80-95% of drilled widths. *Cut to 2.0 troy oz/tonne. Hole numbers at Maverick Gold have not necessarily been drilled or sampled sequentially.

The company has recently completed a 19 hole program for a total of approximately 1,300 meters at the Nokomis deposit. Further assay results are pending. A plan section showing the location of the Nokomis deposit diamond drill holes is available on the Company's website at:

Please visit our booth #2926 at the PDAC Investors Exchange to be held March 4 to 7, 2012, in Metro Toronto Convention Centre.

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 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 BQTW 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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