Auriga Gold Begins Drilling to Upgrade and Expand Resources at Maverick Gold Project

ID: 1035809
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(businesspress24) - TORONTO, ONTARIO -- (Marketwire) -- 08/31/11 -- Auriga Gold Corp. (TSX VENTURE: AIA) ("Auriga Gold" or the "Company") is pleased to announce that its next phase of drilling has begun on the Puffy Lake Mine Deposit at the Maverick Gold Project, 65 km East of Flin Flon, Manitoba. The current drilling program will target expansion of the gold resources at the Maverick Project and increase the quality and quantity of the optimized near surface in-pit resources on the Puffy Lake property.

On August 4, 2011, Auriga Gold announced an initial NI43-101 resource estimate for the former producing Puffy Lake Gold deposit at the Maverick Gold Project, located 65 km Northeast of Flin Flon, Manitoba. Drilling to May 2011, has resulted in optimized in-pit and underground Indicated Resources totalling 174,000 ounces gold and Inferred Resources totalling 558,000 ounces gold. The resource has been estimated by P & E Mining Consultants Inc. using the results from over 300 historical drill holes by previous operators and 41 holes drilled by Auriga Gold since December 2010.

Richard Sutcliffe, Auriga Gold's CEO stated, "The current drilling program will follow up on our successful confirmation program and the initial NI 43-101 resource estimate. We will target expansion of the current resources by testing on strike and down dip extensions of the Puffy Lake Deposit and exploring other gold occurrences along the 20 km long prospective trend on our property. In addition, and in conjunction with the Preliminary Economic Assessment, we aim to improve the quality and quantity of the optimized in-pit resources that will form a potential starter pit for resuming operations."

Auriga Gold has engaged A.C.A Howe International Limited ("Howe") to prepare a Preliminary Economic Assessment or "PEA" on the Maverick Gold Project. The PEA will assess the potential economic viability of the Maverick Project under various conventional mining practices and milling options based on the initial NI 43-101 mineral resource estimate and the on site infrastructure. Specifically, Howe will assess the potential economic viability of an initial open pit mining operation utilizing the on-site 1,000 tpd Puffy Lake mill and other existing infrastructure. Auriga Gold expects the PEA to be completed in October 2011 and a positive result will provide the basis for the Company's plan to refurbish the Puffy Lake mill and commence test mining within the next year.

A plan section showing the location of the diamond drill holes is available on the Company's website at .

About Auriga Gold

Auriga Gold Corp. is a Canadian mine development and exploration company that is developing the Puffy Lake Mine and expanding gold resources on its Puffy Lake and Nokomis properties (the "Maverick Gold Project"). The Company plans to upgrade and expand the resources at the Maverick Gold Project and bring the Puffy Lake Mine back into production. The Puffy Lake Mine includes a 1,000 tpd flotation mill, a developed underground ramp to 135 metres depth, is road accessible and close to existing mining infrastructure. The Maverick Gold Project is located in the Flin Flon Greenstone Belt of Central Manitoba.

NI 43-101: The resource was estimated by Fred Brown, CPG, and Eugene Puritch, P.Eng. of P&E Mining Consultants Inc. Mr. Puritch and Mr. Brown are Qualified Persons ("QP's") as defined by NI 43-101. Bruce Mackie, P.Geo., was QP for the Company's drill program and supervised the preparation of the scientific or technical information for the property. The contents of this press release has been reviewed and approved by Mr. Mackie.

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. This press release is not and is not to be construed as an offer to buy or sell securities in the United States.

Neither 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.


Auriga Gold Corp.
Dr. Richard H. Sutcliffe
President and CEO

Auriga Gold Corp.
Alison Tullis
Manager, Investor Relations

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Date: 08/31/2011 - 11:54
Language: English
News-ID 1035809
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Firma: Auriga Gold Corp.
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