Aura Silver Announces Commencement of Phase II Drilling: New Interpretation Leads to Greatly Enhanced Prospectivity

OTTAWA, ONTARIO, Oct 05 (MARKET WIRE) --
Aura Silver Resources Inc. (TSX VENTURE: AUU)("Aura Silver" or the
"Company") is pleased to announce that the Company and its joint venture
partner Intrepid Mines Limited have approved a 2,500 meter Phase II
drilling program for the Taviche property in Oaxaca, Mexico. Phase II
drilling will test targets along the extent of the Higo Blanco trend
including Cerro La Mina, the Mezcal Vein System, and Santo Nino or nearly
3 kilometers of strike length. The Phase II program will also follow up
on the encouraging initial results obtained in Phase I drilling. Hole
HBET03-09 yielded 219.5 grams per tonne (g/t) silver equivalent over 34.2
meters including 1,116.2 g/t silver equivalent over 1.5 meters. At a
depth of over 107 meters, 12.1 meters averaged 533.4 g/t silver
equivalent with 1.3 meters grading 2,466 g/t (see Press Release #09-05
dated August 14, 2009).

Drilling will also take place to test the Piedra Del Sapo prospect, a
couple kilometers northwest of the Cerro La Mina zone, in the northwest
part of the Higo Blanco trend. The analysis conducted in past weeks
indicates large geophysical and geochemical anomalies exist here and
their association with high stibnite contents suggests that silver
mineralization (pyrargyrite) may occur just beneath. The pyrargyrite
targets coincide with a distinct IP anomaly which is interpreted to be 50
meters or less below surface.

Approval of the Phase II drill program has followed detailed
interpretation of Phase I drill results by the Taviche JV geologists.
Phase I results have been integrated with the IP / resistivity and
magnetic geophysical survey data collected during early 2009 and with
recently available analysis of a three dimensional inversion of
chargeability and resistivity data. At least three sub-horizontal
overlapping tubular-shaped zones of excellent IP response occur within
the intensely silicified limestone zone that formed adjacent to a major
NNW-trending extensional fault system. These IP anomalies extend for
approximately 6 kilometers. The magnetic intensity data enable us to map
the position of the major structures that control the mineralization.
These structures form a series of overlapping faults that parallel the IP
and geochemical anomalies. We can now more precisely determine the
position of the potential mineralized zones, and thus guide our drilling
with greater accuracy.

In total, it is expected that the Phase II drill program will comprise up
to 12 holes. Aura Silver CEO Robert Boaz stated, "The geophysics and
geochemical analysis undertaken by the JV geological team gives us a
clearer understanding of the geological structure of Higo Blanco. We now
have an understanding why certain drill targets in Phase I were not as
successful as previously anticipated. Phase 2 drilling will fully utilize
the results of this analytical work."

Phase II drilling is expected to commence on October 5 and it is
estimated that it will take approximately two months to complete. Results
will be reported as and when early stage assay results become available.
The Taviche JV continues to have the full support of the local community
which will supply a dedicated work force to assist with the Phase II
program.

Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person (as
defined by National Instrument 43-101) and has reviewed and approved the
scientific and technical information in this press release.

About Aura Silver

Aura Silver is a TSX Venture listed company engaged in the acquisition,
exploration and development of precious metal prospects in Canada
(Greyhound project) and in Oaxaca, Mexico. The Company has 40,294,402
common shares outstanding.

FORWORD LOOKING STATEMENTS

This news release may contain forward-looking statements. Forward-looking
statements address future events and conditions and therefore involve
inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements.

Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Aura Silver Resources Inc.
President and CEO
Robert Boaz
905-403-8010
boaz@aurasilver.com
www.aurasilver.com

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