VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 9, 2008) – Aura Minerals Inc. (“Aura Minerals” or the “Company”) (TSX:ORA) is pleased to announce that further to its announcement of May 7, 2008 (see News Release No. 2008-10), it has acquired a 100% interest in all of the mining concessions, plant, surface and water rights and other assets relating to the Aranzazu Project (formerly known as the El Cobre Project) in Zacatecas, Mexico.
The Aranzazu Project comprises the producing Arroyos Azules copper mine and more than two kilometres of mineralized strike extent in a copper-gold-silver skarn deposit. The open pit and underground operation currently produces copper-gold-silver concentrates via flotation. The mine recommenced limited operations in late 2007 with current concentrate production of approximately 5,000 tonnes of concentrates per annum. Current design capacity of the existing mill is approximately 28,000 tonnes per annum of concentrate. For further details on the Aranzazu Project, please refer to the Company’s news release of May 7, 2008.
Pursuant to the definitive acquisition agreement dated June 3, 2008 among the Company, Clapham Luxembourg Holding S.a.r.L. and its wholly-owned subsidiary, Newington Corporation, S.L., the Company acquired 100% of the assets relating to the Aranzazu Project for a purchase price of US$57,500,000 in cash and US$12,500,000 by the issuance of 9,295,117 common shares of the Company. As part of the acquisition, the Company has paid $5,000,000 by the issuance of 3,688,984 common shares of the Company to Zacoro Metals Corp. (“Zacoro Metals”) as a finder’s fee and has agreed to pay, upon satisfaction of certain conditions, US$3,000,000 in cash as consideration for data and equipment provided to the Aranzazu Project by Zacoro Metals. The common shares issued with respect to this transaction are subject to applicable statutory hold periods.
Mr. Patrick Downey, President and CEO of Aura Minerals stated, “The acquisition of the Aranzazu Project is a significant step forward for Aura Minerals. We will now become a producing copper company with significant gold and silver credits. We fully intend to increase production over the next 12-24 months while we also advance our Arapiraca Project in Brazil through feasibility and engineering. Over the next six months, we will focus on improving operations at Aranzazu and developing plans to increase production during 2009 and 2010.”
About Aura Minerals Inc.
Aura Minerals is a Canadian resource company focused on the acquisition, exploration, development and operation of mining properties in the Americas. In addition to the Company’s newly acquired Aranzazu Project, the Company owns the advanced stage Arapiraca Project in north-eastern Brazil, which was originally explored in the 1980’s and 1990’s for copper and gold. The project also contains magnetite (up to 50%) and nickel and the Company plans to evaluate the Arapiraca Project for all four metals which can be readily extracted. The nearby infrastructure is excellent with ready access to electricity, water and shipping ports.
For further information, please visit Aura Minerals’ web site at www.auraminerals.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forwardlooking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in Aura Minerals’ public documents filed on SEDAR at www.sedar.com. Although Aura Minerals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aura Minerals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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