BRAMPTON, ONTARIO--(Marketwire - Oct. 22, 2007) - Aura Silver Resources Inc. (TSX VENTURE:AUU) (the "Company" or "Aura Silver") is pleased to announce that drilling commenced on its Taviche Property on October 14, 2007. The La Noria vein system is the first of three prospective high-grade gold and silver vein targets that will be tested in the 2007 drilling campaign. The La Noria vein prospects are shown in Figure 1. They comprise two main north-south trending veins, between 250 and 400 metres apart, connected by several northwest trending "en echelon" style extensional veins. Widening of the main veins has been observed where they are intersected by the "en echelon" veins.
The West La Noria vein has been mapped over a distance of about 600 metres and disappears below overburden both to the north and south. The vein consists of massive to weakly banded quartz-chalcedony and hydrothermal breccia up to 3 metres wide. Several small shafts (probably less than 50 metres deep) were developed at the intersections of the West La Noria vein and the "en echelon" veins. Samples from dumps at the old shafts contain up to 17.1 grams per tonne gold (g/t Au) and 751 grams per tonne silver (g/t Ag). Rock chip samples along strike of the main vein and adjacent "en echelon" veins gave values from 0.015 to 1.52 g/t Au and 1.4 to 100 g/t Ag.
The East La Noria vein has been traced for over 1 kilometre. It dips steeply to the east and is dominated by vein breccia and silicification up to 20 metres wide. Relative to the West La Noria vein, there is more vein breccia, less quartz/chalcedony vein material and lower gold and silver values. In the southernmost 300 metres of the vein, rock chip samples have returned values up to 4 g/t Au and 210 g/t Ag.
The La Noria prospects are located approximately 2 kilometres west of the San Jose Project, a mining joint venture belonging to Fortuna Silver Mines and Continuum Resources. These companies recently announced a 43-101-qualified Indicated resource of 1.47 million tonnes grading 262.6 g/t Ag and 2.19 g/t Au (17.7 million silver equivalent ounces); and an Inferred resource of 3.9 million tonnes grading 260.6 g/t Ag and 2.57 g/t Au (49.1 million silver equivalent ounces).
The drilling program on the La Noria prospects will test the main veins along their junctions with the "en echelon" veins where vein thicknesses are greatest and gold and silver values are expected to be highest. The six proposed holes will intersect these target areas at depths from 100 to 150 metres below the surface. The first two holes will test beneath the La Noria 1 and 2 shafts where significant gold and silver values have been collected from the mine dumps. Upon completion of the La Noria drilling program, expected in early to mid-November, the drill rig will be moved to the San Martin area, about 4 km to the south. San Martin represents a prospect of significant importance on the Taviche West Property and will be evaluated while samples from La Noria core are being assayed. Ore dumps and veins from the former San Martin mine have been re-sampled with values ranging from 5.0 to 94.7 g/t Au and 23 to 1,845 g/t Ag.
The Taviche Property comprises two concessions totaling 13,724 hectares that are held by Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) under option from Plata Panamericana S.A. de C.V., a wholly owned subsidiary of Pan American Silver Corporation. Aura Silver and Intrepid have formed an agreement whereby they can jointly earn a 70% interest in the concessions.
This Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
A map of La Noria vein system is available at the following address:
http://www.ccnmatthews.com/docs/Map_LaNoria_1022.jpgThe TSX Venture Exchange has not approved or disapproved of the information contained in this press release.