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

Pursuant to the Private Placement, the Company intends to issue 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 intends to use the proceeds of the Private Placement for debt reduction, to complete the updated NI 43-101 studies for its Aranzazu and Serrote projects and for working capital.

The Private Placement is expected to close on or before June 1st, and is subject to certain conditions, including the approval and acceptance by the Toronto Stock Exchange. All securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date.

Mr. Jim Bannantine, the Company's President & CEO stated, "With current market conditions and the limited ability to raise financing for junior mining companies and developers such as Aura, we see this financing as a show of confidence in Aura and our revised strategy. This Private Placement will be beneficial to all shareholders. Not only will this allow Aura to strengthen its balance sheet by reducing our debt, but also give the Company more flexibility and options moving forward as we refocus in 2015. The shares are being placed at a premium to market to a new, non-related, overseas, diversified, value-oriented private investor.

Moving forward, Aura's strategy is to: (i) continue to reduce its debt, which we expect to be almost nil by the end of the first quarter of 2016; (ii) further its operational improvements at San Andres, Aura's principal cash flow generator; (iii) proceed with the NI 43-101 studies for the Ernesto Pau-a-Pique project, which will replace gold production from its Sao Francisco mine; and (iv) 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. Aura is highly undervalued relative to its peers and we believe that the market will realize this as results from our strategy are displayed to the market."