Re:        News - Wednesday, November 19, 2008
Title:     High Grades Intersected at Dimako gold prospect in Cameroon and strategic review

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TSX-V: AAZ

November 19th, 2008

African Aura Resources Ltd. ("African Aura" or the "Company", TSX-V: AAZ), a pioneering exploration company with gold, iron ore and uranium exploration activities in sub-Saharan Africa, announces that the Phase 1 drilling programme at Dimako prospect, located in the Company's 100% owned 1,000km2 Batouri licence in eastern Cameroon, has returned high grade gold assays. The Company also announces that in light of current market conditions it has implemented a further financial rationalisation in order to conserve shareholder funds and focus exploration efforts on its flagship gold and iron projects.

• Drilling intersects 12.98g/t over 2.4m, and 16.44g/t Au over 1.10m at Dimako
• 11 holes completed to date at Dimako for a total of 1016m
• Increase in drilling rates and reduction in costs
• Strategic review to accelerate flagship projects and preserve cash

Dimako gold prospect

Assays from the first five holes drilled at the Dimako prospect have returned high gold grades including 12.98g/t gold over 2.4m, and 16.44g/t gold over 1.10m (Table 1). The Company has drilled 11 holes of a planned 25 hole programme on the 3.5km long Mongonam - Dimako trend which is defined by a >50ppb gold-in-soil contour coinciding with extensive hard rock artisanal workings from which a recent grab sample yielded 32g/t gold. Drilling to date has comprised a series of holes, spaced at an average 100 metres apart to a maximum depth of 152.95 metres. As of November 19th 2008, hole DMDD16 was being drilled.

Table 1. Up to date assay results from drilling at Dimako

Drilling costs

With the appointment of a new drill manager in Cameroon, African Aura has markedly increased the drilling rate whilst reducing the costs of running its two in house diamond coring rigs.

Strategic review

In light of the weak global financial markets, the Company has reduced its exploration budget by more than 75%, to a projected cash burn rate that will sustain the Company for at least 3 years while maintaining its drilling programmes. At the same time, African Aura continues to assess merger and acquisition opportunities in order to identify a transaction that will create significant value for shareholders.

John Gray, Chief Executive Officer, commented:

"We are very encouraged by these initial positive drilling results from the Dimako prospect which is the second target we have drilled of the many that exist at the Batouri gold project in eastern Cameroon. I look forward to updating shareholders on further results when they are received. On behalf of the board I would also like to reassure our shareholders that, in these challenging market conditions, we have taken firm measures to significantly reduce the Company's burn rate while ensuring our flagship gold and iron ore projects continue to be advanced aggressively. We regret that the rationalisation will result in a reduction in local and expatriate members in our team, but I would personally thank them for their valued contribution. In the meantime, the board will continue to actively examine merger and acquisition opportunities as a means of adding shareholder value."


To see the remainder of this press release please see the link below

Associated File: http://www.african-aura.com/i/pdf/2008News/AAR NR 19-11-08 DIMAKO  STRAT 19-11-08.pdf

70 KB in size, approx. 14 seconds to download at 56.6Kbps

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