Aurizon Mines Ltd.

Aurizon Mines Ltd.

March 15, 2005 18:42 ET

Aurizon Increases Financing from $20 Million to $25.3 Million


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AURIZON MINES LTD.

TSX SYMBOL: ARZ
AMEX SYMBOL: AZK

MARCH 15, 2005 - 18:42 ET

Aurizon Increases Financing from $20 Million to $25.3
Million

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2005) - Aurizon
Mines Ltd. (TSX:ARZ)(AMEX:AZK)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICE OR FOR DISSEMINATION IN
THE UNITED STATES.

Aurizon Mines Ltd. is pleased to announce that it has agreed to increase
its previously announced non-brokered private placement with arm's
length institutions and investment funds from $20 million to $25.3
million (the "Offering"). As a result, the Company has agreed to issue
the following shares, subject to the closing of the Offering:



--------------------------------------------------------------------
Description of Security Number of Shares Price Gross Proceeds
--------------------------------------------------------------------
Common Shares 4,222,221 $1.50 $ 6.3 million

Flow-through Common Shares 10,555,555 $1.80 $19.0 million
---------- -------------
14,777,776 $25.3 million
---------- -------------


Proceeds of the Offering will enable Aurizon to proceed with the
installation of the hoist, electrical substation and the construction of
the headframe and hoist buildings; the extension of the 550 metre track
drift east of Zone 113; the drilling of Zone 113 between 900 and 1,100
metres and the drilling of Zones 118 to 120.

Completion of the Offering is subject to certain conditions including,
but not limited to, due diligence, final documentation and receipt of
all necessary approvals.

The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
the registration requirements. This press release shall not constitute
an offer of securities for sale in the United States or Canada or the
solicitation of an offer to buy securities in the United States or
Canada, nor shall there be any sale of the securities in any
jurisdiction or state in which such offer, solicitation or sale would be
unlawful.

Aurizon is a Canadian gold producer with operations and exploration
activities in the Abitibi region of northwestern Quebec, one of the
world's most prolific gold and base metal regions. Aurizon owns one
hundred percent (100%) of the Casa Berardi property, where a positive
feasibility study was recently completed.

Aurizon shares trade on the Toronto Stock Exchange under the symbol
"ARZ" and on the American Stock Exchange under the symbol "AZK".

This News Release contains "forward-looking statements", including, but
not limited to, statements regarding the Company's expectations as to
the market price of gold, strategic plans, future commercial production,
production targets and timetables, mine operating costs, capital
expenditures, work programs, exploration budgets and mineral reserve and
resource estimates. Forward-looking statements express, as at the date
of this report, the Company's plans, estimates, forecasts, projections,
expectations, or beliefs as to future events or results. Forward-looking
statements involve a number of risks and uncertainties, and there can be
no assurance that such statements will prove to be accurate. Therefore,
actual results and future events could differ materially from those
anticipated in such statements. Factors that could cause results or
events to differ materially from current expectations expressed or
implied by the forward looking statements, include, but are not limited
to, factors associated with fluctuations in the market price of precious
metals, mining industry risks and hazards, environmental risks and
hazards, uncertainty as to calculation of mineral reserves and
resources, requirement of additional financing, risks of delays in
construction and other risks more fully described in Aurizon's Annual
Report on Form 20-F filed as an alternative form of AIF with the
Securities Commissions of the provinces of British Columbia, Ontario and
Quebec, with the United States Securities and Exchange Commission, and
with the Toronto Stock Exchange.

U.S. Registration: (File #0-22672) Form 20-F

ARZ:TSX Closing Price: $1.41

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Aurizon Mines Ltd.
    David P. Hall
    President
    (604) 687-6600 or Toll Free: 1-888-411-GOLD
    (604) 687-3932 (FAX)
    or
    Aurizon Mines Ltd.
    Patrick Soares
    Manager, Investor Relations
    (604) 687-6600 or Toll Free: 1-888-411-GOLD
    (604) 687-3932 (FAX)
    info@aurizon.com
    www.aurizon.com