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VANCOUVER, BRITISH COLUMBIA — (MARKET WIRE) — 04/15/10 — Aura Minerals Inc. (“Aura Minerals” or the “Company”) (TSX: ORA) is pleased to announce first quarter gold production for the San Andres Mine in Honduras. Gold production for the first quarter of 2010 was 19,299 ounces, which is an increase of 32% over the first quarter of 2009 and 5% over the fourth quarter of 2009, the Company’s first full quarter of production. The increased production over the fourth quarter 2009 is expected to result in a corresponding reduction in cash costs. Production for the quarter was above target and, with the commissioning of the new crusher/conveyor system now completed, as well as a new stacking system, which is expected to be in operation in the third quarter of the year, the Company remains confident that it will meet or exceed its production guidance of 90,000 ounces of gold for 2010.
Acquisition of Sao Francisco and Sao Vicente Gold Mines
The Company is now in the final planning stages for the acquisition of the Sao Francisco and Sao Vicente gold mines in Brazil, due to occur on April 30th. On closing, the Company will immediately commence engineering of identified upgrades and operational changes to both operations as part of a program to reduce cash costs and improve production. These changes are expected to take up to six months to fully implement, with certain of the changes happening within the first month of closing. Aura Minerals also plans to commence drilling of identified targets at both the Sao Francisco and Sao Vicente Mines as part of an overall program to increase reserves at both operations.
Patrick Downey, President and Chief Executive Officer of Aura Minerals, stated, “We are very pleased with the progress at the San Andres Mine and the fact that we are exceeding planned production with costs tracking downward. The first phase of the planned expansion is now complete, which will further reduce cash costs. We are now on target to achieve 90,000 ounces of gold at the San Andres Mine for 2010. I am also very pleased that the final transfer of the Sao Francisco and Sao Vicente Mines is scheduled to occur on April 30th and, as a result, we fully expect to achieve our previously released 2010 production guidance of 185,000 to 195,000 ounces of gold.”
About Aura Minerals Inc.
Aura Minerals is a Canadian resource company focused on the acquisition, exploration and development and operation of gold and base metal projects in the Americas. The Company’s portfolio includes the San Andres Gold Mine in Honduras, the copper-gold-silver Aranzazu Project in Mexico, and the feasibility-stage Serrote Deposit at the copper-gold-iron ore Arapiraca Project in Brazil. In addition, the Company is in the process of acquiring the producing Sao Francisco and Sao Vicente gold mines in Brazil, subject to regulatory approvals.
For further information, please visit Aura Minerals’ web site at www.auraminerals.com.
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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts: Aura Minerals Inc.
Patrick Downey President & Chief Executive Officer (604) 669-4777 email@example.com www.auraminerals.com