OTTAWA, ONTARIO--(MARKET WIRE)--Aug 27, 2008 -- Aura Silver Resources Inc. ("Aura Silver") (CDNX:AUU.V - News) is pleased to report results from its ongoing exploration in the southern Taviche district, Oaxaca, Mexico. On May 27, 2008, Aura Silver reported that it had identified a large jasperoid and vein breccia complex in the southern extent of its East Taviche concession. This discovery led to the acquisition of the 898 km2 Alma Delia concession located southeast of East Taviche and covering the extension of this prospective area to the southeast.

Reconnaissance activities in the East Taviche concession during 2007 and 2008 delineated a corridor of northwest-trending gold and silver-bearing quartz-sulfide-carbonate veins, vein breccias and stockwork deposits. In proximity to where these vein systems intersect the underlying Cretaceous limestone, a zone of extensive silicification includes deposits of silver-gold-bearing jasperoid. The Higo Blanco prospect is a jasperoid occurrence that has been mapped and sampled over a strike length of 7.5 kilometers. This mineralized complex of veins and silicified limestone can be traced northwest into the core of the Taviche district and extends to the southeast across the Alma Delia concession. Follow-up mapping (1:1,000) and sampling (468 samples) in 2008 have enabled Aura Silver to define several drill targets, initially within a small portion (approximately 2 kilometers) of the overall strike length of the vein/jasperoid complex.

The initial program consisting of four trenches (243 meters) across the hanging wall (HW) of one of these vein systems, the Mezcal vein, has revealed broad zones of silicification hosting vein breccia and quartz stockwork. Gold values (126 samples) are consistently anomalous along all of the trenches and contain notable zones such as 30.3 meters of 0.735 g/t Au (Trench 1) and 20.6 meters of 0.91 g/t Au (Trench 4). Silver values range up to 436 g/t but are generally less (90%) than 50 g/t. Values greater that 50 g/t are associated with diminished oxidation and visible sulfides, indicative that silver grades increase with depth (less oxidation) and toward the underlying (and hidden in this area) jasperoid horizon (less than 100 meters below the surface).

Mapping in the Higo Blanco prospect (Figure 1: http://media3.marketwire.com/docs/auramap0827.pdf), along with the trench results, indicate that gold and silver enrichment are occurring in both the volcanics and silicified limestone adjacent to the Mezcal vein over a strike length of at least two kilometers. The stockwork deposits hosted by the Tertiary volcanics are stratigraphically above and in the HW of the Cretaceous limestone beds which host the jasperoids. Gold and silver-bearing quartz stockwork deposits commonly form as stacked, flat lying bodies up to several meters thick. In addition to quartz, significant amounts of pyrite, arsenopyrite and stibnite are visible and are reflected in the geochemical data.

Extensive outcrops of jasperoid immediately northwest of the trenches have been sampled (8 samples) and average 0.34 g/t Au (up to 0.878 g/t Au) and 362 g/t Ag (up to 1,780 g/t Ag). The same jasperoid horizon is present approximately 800 meters to the southeast of the trenches in the Alma Delia concession (in an outcrop area of 150 by 75 meters) and averages (15 samples) 0.35 g/t Au and 182 g/t Ag. All samples were collected within about 10 meters of the hanging wall contact with the overlying altered and veined volcanics. The thickness of the jasperoid has not been established.

Along strike, between the two jasperoid masses (approximately 850 meters apart) noted above, is a large area of altered volcanics associated with distinct calcite flooding and veining. The spatial association between this alteration and the gold-silver-arsenic-antimony-bearing quartz mineralization may indicate continuity at depth (less than 100 meters) between these two masses. To test this large target, a preliminary drilling program has been designed. All environmental and community permits have been obtained.

Robert Boaz, President and CEO, states that "We are excited about the opportunity to test this 'grassroots' success. The size of this prospect and indications that silver and gold values are increasing with depth provide Aura Silver with the unique possibility of a significant discovery".

Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person (as defined by National Instrument 43-101) and has reviewed and approved the scientific and technical information in this press release.

About Aura Silver

Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in North America with a focus on silver. The Company has 38,208,902 common shares outstanding.

FORWORD LOOKING STATEMENTS

This Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this press release.

A map is available at the following address: http://media3.marketwire.com/docs/auramap0827.pdf

     Contacts:
     Aura Silver
     Robert Boaz
     President and CEO
     905-403-8010
     boaz@aurasilver.com
     http://www.aurasilver.com