AUU Gold79 Mines Ltd

Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is
pleased to announce that the Aura Silver / Intrepid Mines Ltd. ("Intrepid")
joint venture ("Taviche JV") and Pan American Silver Corp. ("Pan Am") have
entered into a new agreement which supersedes the prior option agreement with
respect to the East Taviche, West Taviche and Alma Delia concessions comprising
the Taviche project in Oaxaca, Mexico. Under the terms of the new agreement the
Taviche JV acquires a full 100% ownership interest in both the East Taviche and
Alma Delia concessions while Pan Am retains a 100% ownership position in the
West Taviche concession. The Taviche JV will be entitled to receive a cash
payment of US $2.0 million, dependent on certain sale or disposition
transactions undertaken by Pan Am in excess of a 70% interest with respect to
the West Taviche property. Pan Am has also refunded the final earn-in payment of
US $250,000 paid in September 2011. Additionally, the Taviche JV has granted Pan
Am a 1.5% net smelter royalty ("NSR") as well as a right of first offer ("ROFO")
on all of the East Taviche and Alma Delia concessions based on certain terms and
conditions.


This transaction vests a 100% ownership position in East Taviche (7,470
hectares) and Alma Delia (38,616 hectares) with the Taviche JV for a land
package comprising 46,086 hectares. Now Aura Silver's interest in the Taviche JV
is approximately 70% representing 32,360 hectares. In contrast, under the terms
of the original agreement with Pan Am, Aura Silver could have earned an
approximate 50% interest of 52,340 hectares (or 26,170 hectares) in all
concessions, with Intrepid controlling 20% and Pan Am 30%. 


Aura Silver CEO, Robert Boaz stated, "This transaction allows Aura Silver, as
operator, to focus on the Higo Blanco prospect on East Taviche and the
exploration potential of Alma Delia. In addition to the initial Higo Blanco
silver and gold deposit, there are major areas on both properties which are
underexplored and warrant additional attention. This agreement provides Aura
Silver with a significant majority position in this large and prospective land
package."


In the five year history of our exploration programs at Taviche, the Taviche JV
has had the greatest success at Higo Blanco on East Taviche and Alma Delia. The
full and larger ownership position provided by this agreement represents a
valuable asset for shareholders. At Higo Blanco, the Company previously reported
the discovery of a zone of high-grade silver extending over 300 metres of strike
length. For example, the discovery hole HBET-03 contains 269.7 grams per tonne
(g/t) silver equivalent over 34.2 metres and a 50 metre step-out hole (HBET-16)
contains 303.9 g/t over 36.6 metres. In addition to this silver discovery, the
Taviche JV has also discovered an adjacent gold zone with good indications that
the gold grades increase with depth. In addition, our mapping indicates an
on-strike extension of both the silver and gold zones for an additional 1.1
kilometres. This extension has not been thoroughly tested. A detailed summary of
Higo Blanco silver and gold assay results is available at the Company's website
(www.aurasilver.com, see Taviche Project - Summary of Silver / Gold Assays under
Investors / Presentations). During the fall of 2011, a report under National
Instrument 43-101 ("43-101") and initial resource estimate was completed on the
Higo Blanco trend which reported an inferred silver resource of 3.3 million
ounces and an inferred gold resource of 54,000 ounces.


The 43-101 report also included a mineral potential estimate(i) of up to 29
million ounces of silver and up to 450,000 ounces of gold. The 43-101 report is
available at www.SEDAR.com under the Company's profile. 


(i) The potential quantity and grade is conceptual in nature, there has been
insufficient exploration to date to define this as a mineral resource and it is
uncertain if further exploration will result in the target being delineated as a
mineral resource.


The Taviche JV enjoys strong community relationships in the area which remains
important for our ongoing operations. We have focused on providing employment
and improved living and educational conditions for these communities. Recently,
we have signed a renewed agreement with the town of San Pedro Taviche, the
principal community in our area of interest, and we plan to commence additional
exploration soon. 


Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person and has
reviewed and approved the scientific and technical information in this press
release.


About Aura Silver 

Aura Silver is a TSX Venture listed company engaged in the acquisition,
exploration and development of precious metal prospects in Canada (100% owned
Greyhound project) and in Oaxaca, Mexico. Aura Silver has 97,680,844 common
shares outstanding. 


FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of
the date hereof and are based on current expectations, forecasts and assumptions
which involve risks and uncertainties associated with our business including the
uncertainty as to whether further exploration will result in the target(s) being
delineated as a mineral resource, capital expenditures, operating costs, mineral
resources, recovery rates, grades and prices, estimated goals, expansion and
growth of the business and operations, the private placement financing
activities of the Company, plans and references to the Company's future
successes with its business and the economic environment in which the business
operates. All such statements are made pursuant to the 'safe harbour' provisions
of, and are intended to be forward-looking statements under, applicable Canadian
securities legislation. Any statements contained herein that are statements of
historical facts may be deemed to be forward-looking statements. By their
nature, forward-looking statements require us to make assumptions and are
subject to inherent risks and uncertainties. We caution readers of this news
release not to place undue reliance on our forward-looking statements as a
number of factors could cause actual results or conditions to differ materially
from current expectations. Please refer to the risks set forth in the Company's
most recent annual MD&A and the Company's continuous disclosure documents that
can be found on SEDAR at www.sedar.com. Aura Silver does not intend, and
disclaims any obligation, except as required by law, to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise.

Gold79 Mines (TSXV:AUU)
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