February 26, 2007

Post in News by Admin

TORONTO, Canada – Aura Gold Inc. (“Aura Gold”) (TSX:ORA) is pleased to announce the initial reconnaissance drill results from three holes from its Cumaru Project located in Para State, north-central Brazil. Significant intercepts include 5.34 g/t gold over 13 metres returned from hole CMD 02, which incorporates a high-grade intercept of 44.17 g/t gold over 1 metre. Diamond drilling is continuing on the minimum 3000 metre program.

Hole CMD 02 was collared in the Cumaru granodiorite stock to test the Gradaús target, located approximately 250 metres northeast along strike with artisanal workings (see Drill Target Map below). The hole is also on strike with mineralization reported in historic drilling below the Gradaús open pit mine. Results are tabled below:

 From
(m)

To
(m) 

Interval*
(m) 

 Value
(g/t Au)
                      61.0
  including   68.0

74.0
69.0

 13.0
1.0

 5.34
44.17

                      86.0

 89.0

 3.0

 2.40

                    106.0  107.0

 1.0

 2.32

*the true width of the intervals is unknown

Gold mineralization in hole CMD 02 is associated with up to 3% disseminated pyrite and numerous clots, fractures and veinlets of massive chalcopyrite and magnetite up to 1 centimetre in width. Gold appears to correlate closely with magnetite and chalcopyrite. The mineralized interval contains between 0.18 to 0.48% copper and locally anomalous amounts of bismuth (up to 1946 ppm) and cobalt (235 ppm). Gold mineralization is hosted in a broad zone of strongly pervasive phyllic, propylitic and locally intense potassic alteration. The mineralization style and alteration features suggest Cumaru may host potential for a porphyry-related or iron oxidecopper-gold (IOCG) deposit, similar to those in the renowned Carajas region.

Aura Gold is continuing to drill additional step-out drill holes to confirm the orientation and continuity of this promising new gold zone. Three additional holes have been completed (CMD 04, CMD 05 and CMD 10; assays pending) and others are planned. Preliminary drilling has also tested the Daniel target (CMD 07, CMD 08 and CMD 09; assays pending).

Since initiating the drill program in late 2006, 10 holes totaling approximately 50% of the planned minimum program have been completed on the Mineiro, Gradaús and Daniel targets. All of these holes are proximal to or within the Cumaru granodiorite stock which was the focus of extensive historical artisanal mining.

In addition to CMD 02, assay values for holes CMD 01 and CMD 03 have been received. CMD 01 and CMD 03 examined the Mineiro target, located approximately 300 metres north of the Gradaús target within the Archean greenstone sequence flanking the granodiorite stock. CMD 01 tested artisanal gold occurrences and a large geochemical anomaly (up to 500 ppb gold) defined by Aura Gold’s auger drilling program. The drill hole intersected anomalous gold in oxidized bedrock from 26 to 32 metres and 4.5 g/t gold in a vein over a 1 metre interval at a down hole depth of 147 metres. Hole CMD 03 was collared 100 metres southwest along strike with CMD 01, and intersected only locally anomalous gold values. Aura Gold considers this target adequately tested.

Two drill holes are also planned to test an area of the Gradaús target several hundred metres southeast of CMD 02. These two holes are designed to evaluate bedrock gold zones on the granodiorite contact indicated by historical drilling beneath the Gradaús open-pit mine.

The extensive area of sheared granodiorite in contact with altered greenstone northeast of Gradaús, including the Daniel target and other targets yet to be drilled, lies mostly on the former Cumaru Garimpeiro Reserve. This area has never been subjected to modern systematic exploration or drilling. Artisanal workings are extensive in this area, occurring mostly in the granodiorite stock but also in the surrounding greenstone sequence and in banded iron formation (BIF) units. The total gold production from this area is undocumented, but the sizeable extent of the old workings suggests this area was the source of a significant portion of the historical 1.5 million ounces gold production with which the Cumaru district is officially credited.

One of the more promising recently identified targets in this area is Carmelo, more than 1 kilometre northeast of Gradaús. This target contains two very deep old artisanal pits which reportedly produced substantial amounts of gold from stockwork veins in the greenstone sequence. Recent trench samples collected by Aura Gold have confirmed gold values as high as 61 to 71 g/t over 1 metre widths from outcrops in the pit. Like other artisanal workings in the vicinity, Carmelo has never before been sampled or tested by drilling.

QA/QC Procedures

Aura Gold’s diamond drilling program is being done by Geoserv Longyear and consists of holes drilled with HQ-sized core (63.5 mm) in the oxidized saprolite zone, usually to a depth of 20 metres or less, and then stepping down to NQ-sized core (47.6 mm) in the fresh bedrock. The core is logged, photographed and then split in half using a hydraulic core splitter. Half the core is retained on-site in a secure storage facility and the other half is sampled, secured in sealed, labeled bags and then transported by road to the SGS-Geosol Laboratórios Ltda. sample preparation facility in Paraupebas, Para State, Brazil. The entire half-core is crushed and pulverized and 150 gram splits of this pulp sent by SGS-Geosol to their main ISO-accredited assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. At this laboratory, gold content is determined by fire assay with an atomic absorption finish using 50 gram splits of the pulp and selected intervals or samples are additionally analyzed for inductively coupled plasma (“ICP”) multi-element analysis. Aura Gold systematically puts certified standard samples and blank samples in all batches of samples sent to SGS-Geosol as a means of quality control. Additionally, SGS-Geosol has its own stringent internal OA/QC protocols.

The Qualified Person under National Instrument 43-101 responsible for all technical data reported in this news release is Mel Klohn, L.P. Geo., Vice President, Exploration for Aura Gold Inc. All work in Brazil is managed by Carlos Bertoni, M.Sc., P.Geo., Chief Operating Officer for Aura Gold Inc.

About Aura Gold Inc.

Aura Gold Inc. (TSX:ORA) is a Canadian exploration company focused on the discovery of gold deposits in Brazil. Aura Gold’s projects are the Cumaru, the Inaja Greenstone Belt and the North Carajas Claims, which total approximately 600,000 hectares in the Carajas Metallogenic Province of north-central Brazil. The Carajas region is host to a significant number of world-class deposits of iron ore, gold, copper, nickel, manganese and bauxite. Aura Gold intends to become Brazil’s pre-eminent mineral explorer and the partner of choice for international mining companies seeking opportunities in Brazil.

For further information, please visit the Aura Gold web site at www.auragoldinc.com or contact:

Vic Bradley
President & CEO
Tel: 416.363.8238
Email: vbradley@auragoldinc.com

Steve Dawson
Vice President, Corporate Development
Tel: 416-363-8238 
Email: sdawson@auragoldinc.com

Cautionary Statement:

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Aura Gold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Aura Gold’s expectations are the risks detailed herein and from time to time in the filings made by Aura Gold with securities regulators.