OTTAWA, ONTARIO--(Marketwired - June 23, 2017) - Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is pleased to report that the Spring 2017 drilling program has been completed on our Greyhound property located in Nunavut, Canada. Agnico Eagle Mines Limited ("Agnico Eagle") completed the program to follow up on 2015 results where mineralization of 6.41 g/t gold (check assay resulted in 7.4 g/t gold) was intersected over 1.5 metres at the bottom of drill hole GHD15-017 at a vertical depth of approximately 137 metres.
This spring campaign was completed at the end of May 2017 with 8 holes totaling 2,058 metres on the Greyhound property. All assays are pending and we expect the results by July 2017.
Agnico Eagle Completes First Phase of Option Agreement
Agnico Eagle has completed phase one of the option agreement to acquire a 51% interest in Aura Silver's Greyhound property in Nunavut, Canada. Agnico Eagle has completed the aggregate of $1,750,000 of expenditures required by the end of May 2017 and has made aggregate option payments to Aura Silver of $210,000. Agnico Eagle now has the option to increase its ownership in the property to 70% by providing a Preliminary Economic Assessment or by spending $5.0 million in further exploration.
Mr. Robert Boaz, CEO states, "Management is pleased with Agnico Eagle's execution of the drill program and eagerly awaits positive confirmation of assay values." Drilling is expected to resume after assays are received.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada (49% owned Greyhound project) and in Oaxaca, Mexico (100% owned East Taviche project). Aura Silver has 128,116,558 common shares outstanding.
Mr. Paul Pitman, B.Sc., P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release regarding the Greyhound project.
