NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 25, 2009) – Aura Minerals Inc. (TSX:ORA) (“Aura Minerals” or the “Company”) is pleased to announce that further to the announcement of June 9, 2009, the Company has completed the acquisition of the San Andres Gold Mine located in Honduras. The acquisition of the Sao Francisco and Sao Vicente Gold Mines, also announced on June 9, 2009, will be completed when appropriate regulatory consents and approvals are received which is expected within approximately six to nine months.
The Company has also satisfied the conditions to the release of the funds placed into escrow pursuant to the previously announced private placement of subscription receipts of the Company (the “Subscription Receipts”) that closed on July 15, 2009. In connection with the satisfaction of such conditions, (i) a net amount of approximately CAD$119 million was released to the Company, and (ii) each Subscription Receipt has been deemed exchanged, without payment of any additional consideration, for one common share of the Company. The Company received a receipt for the final prospectus dated August 13, 2009 qualifying the distribution of common shares issuable upon the exchange of the Subscription Receipts.
Mr. Patrick Downey, President and CEO of Aura Minerals, stated, “The acquisition of the San Andres, Sao Francisco and Sao Vicente Gold Mines will transform Aura Minerals into an intermediate gold producer. We are delighted to have now completed the first step of this transformation. We plan to continue implementing operational improvements at the San Andres Gold Mine and to further ramp up production and reduce cash costs once installation and commissioning of a new primary crusher and conveyor system are complete.”
About Aura Minerals Inc.
Aura Minerals is a Canadian resource company focused on the acquisition, exploration and development of mining properties in the Americas. In addition to the three newly acquired producing gold mines the Company owns the Aranzazu copper mine in Mexico and the advanced stage Arapiraca Project in north-eastern Brazil, which was originally explored in the 1980’s and 1990’s for copper and gold and includes the Serrote Deposit. 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 Inc.’s web site at www.auraminerals.com or contact:
Aura Minerals Inc.
President & Chief Executive Officer
Tel: (604) 669-4777
Fax: (604) 696-0212
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 forward-looking 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.