TORONTO, ON -- (Marketwired) -- 06/09/15 -- Aura Minerals Inc. ("Aura" or the "Company")(TSX: ORA) is pleased to announce that it has closed the non-brokered private placement (the "Private Placement") for gross proceeds of CAD$6,100,000 (approximately US$5.0 Million) announced on May 28, 2015.

Pursuant to the Private Placement, the Company has issued 57,009,346 common shares to a private company at a price of $0.107 per share, representing a premium of approximately 15% to the five day VWAP of the common shares as of May 27th, for gross proceeds of CAD$6,100,000. The Company will use the proceeds of the Private Placement for reduction of debt, completion of the updated NI 43-101 studies for its Aranzazu and Serrote projects and working capital purposes.

Mr. Jim Bannantine, the Company's President & CEO, stated, "We are pleased to have closed this private placement given the prevailing market conditions. Despite exploring numerous options, financings (both debt and equity) have been very difficult to achieve or otherwise transact on at fair market value and as such, issuing equity at a premium to market is in the best interests of the Company. Using a portion of the proceeds of the Private Placement to reduce the Company's debt is in the best interests of all stakeholders and also provides future optionality.

With the full support of the Board, Aura's management is confident that we will be able to fully act on our previously announced strategy which is expected to result in a debt-free, cash flow producing company with substantial long-term value to all stakeholders. The Company has substantially reduced G&A expenses over the last three years and continues to demonstrate operational improvements.

As noted in our May 28th press release, the Company's strategy is:

• continue to reduce debt, which we expect to be almost nil by the end of the first quarter of 2016;

• further Aura's operational improvements at San Andres, Aura's principal cash flow generator;

• proceed with the funded NI 43-101 studies for the Ernesto Pau-a-Pique project, which will replace gold production from the Sao Francisco mine; and

• update the NI 43-101 studies for Aranzazu and Serrote as the basis for a financing to restart or re-market Aranzazu and procure a partner in combination with project financing for Serrote."

All securities issued pursuant to the Private Placement are subject to a four month hold period from the closing date.

Cautionary Note

This news release contains certain "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements relate to future events or future performance and reflect the Company's current estimates, predictions, expectations or beliefs regarding future events and include, without limitation, statements with respect to: the Private Placement and the use of proceeds, Aura's strategy going forward, the amount of mineral reserves and mineral resources; the amount of future production over any period; the amount of waste tonnes mined; the amount of mining and haulage costs; cash costs; operating costs; strip ratios and mining rates; expected grades and ounces of metals and minerals; expected processing recoveries; expected time frames; prices of metals and minerals; mine life; and gold hedge programs. Often, but not always, forward-looking statements may be identified by the use of words such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements in this news release are based upon, without limitation, the following estimates and assumptions: the presence of and continuity of metals at the Company's mines at modeled grades; the capacities of various machinery and equipment; the availability of personnel, machinery and equipment at estimated prices; exchange rates; metals and minerals sales prices; appropriate discount rates; tax rates and royalty rates applicable to the mining operations; cash costs; anticipated mining losses and dilution; metals recovery rates, reasonable contingency requirements; and receipt of regulatory approvals on acceptable terms.

Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, gold and copper or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Source: Aura Minerals Inc.