Aura Silver Appoints Independent Chairman and Provides Company Update

Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is
pleased to announce that Mr. Nick Tintor has been appointed the Independent
Chairman of the Board of Directors of Aura Silver. Mr. Tintor is Managing
Director of RG Mining Investments Inc., and President & Chief Executive Officer
and a Director of Caracara Silver Inc. as well as Ferrum Americas Mining Inc.
From January 2007 to March 2011, Nick acted as the President & CEO and a
Director of Homeland Uranium Inc. as well as the President & CEO of Southern
Andes Energy Inc. (now amalgamated with Macusani Yellowcake Inc.). 


Mr. Tintor is a professional geologist with more than 25 years of experience in
the mining industry and has been involved with all aspects of junior mining
company management, finance and project acquisition. 


Company Update 

Prevailing market conditions have made it difficult for small capitalization
exploration companies to raise funding for exploration programs. Aura Silver is
no exception. Available Company funds are not sufficient to undertake the scale
of exploration programs required to advance the Company's projects. As a result,
the Company has entered into discussions with outside parties for potential
joint ventures on our properties which would allow these partners to earn in to
a portion of our projects utilizing their own capital over time. It is believed
that such joint venture arrangements will limit shareholder dilution while
allowing the Company and our shareholders to benefit from any success generated
by the joint venture drill programs. 


Aura Silver owns or controls two large land positions in two properties under
consideration, our 100% owned Greyhound property in Nunavut, Canada comprises
over 55,000 hectares in total and our 70% owned East Taviche and Alma Delia
properties in Oaxaca Mexico comprise over 46,000 hectares. Both projects have
drill ready gold and silver targets. 


The Company has had success with its drilling programs at the Taviche, Mexico
project which to date have outlined small 43-101 compliant inferred gold and
silver resources. Moreover, there is enough geological evidence to suggest the
mineralized system could be expanded with further deeper drilling. 


At Greyhound, in addition to having identified high-grade surface gold and
silver targets which remain untested, the most recent geochemical analysis
indicates our previous drill program was undertaken some 500 metres south-west
of the most likely sources of the gold and two of the silver targets. It is
anticipated that these prospects will provide considerable excitement when
drilling recommences.


About The Greyhound, Nunavut Property

Since staking the initial property position in 2006, progress has continued at a
rapid pace with numerous completed airborne and ground geophysical surveys and
ground prospecting. Prospecting has uncovered numerous mineral showings
containing both precious and base-metal content with spectacular assay values up
to 28.2 g/t gold, 5,380 g/t silver, 8.2% lead, 18.5% zinc and 9.2% copper. With
a focus on VMS (volcanic massive sulphides) deposits the Company carried out a
drilling campaign in 2010 testing airborne VTEM conductors, all of which proved
to reflect the presence of graphite. The source of the high-grade base metal
prospects to the north of Aura Lake therefore remains unexplained but numerous
conductive bodies underlying water have yet to be drill tested.


During 2010, additional prospecting and soil sampling uncovered a potential four
kilometre long corridor extending south from the original gold showing on the
east shore of Aura Lake. Together, the gold enriched rock samples averaged 14.8
g/t Au and the silver rich samples averaged 1,472 g/t Ag. Over 80% of the soil
samples are above background values. An induced polarization survey was carried
out over a portion of this corridor. Results indicate several high chargeability
anomalies co-incident with the soils and the high-grade rocks.


In addition to this defined corridor, broad zones of extensively carbonatized
ultramafic rocks ("green carbonate") containing disseminated sulphides,
including traces of arsenopyrite and chalcopyrite were intersected in drill core
to the north of Aura Lake. This alteration is strongly reminiscent of Kirkland
Lake style mineralization and further drilling is warranted, likely following a
further I.P. survey. In all, the potential for a gold and silver zone appears to
be pervasive over an area of several square kilometres.


In 2011, Actlabs of Ancaster, Ontario undertook two biologically based
geochemical analyses of the soil sampling previously completed. The results of
these organic analyses identified possible source targets for both the
high-grade surface samples of gold and of the silver. A large gold target was
discovered to the northeast of Aura Lake as well as two silver targets further
south. These targets are some 500 metres north-east of the drilling completed
during 2011.


The drill targets identified were rated by Actlabs at their highest priority in
confidence in comparison to the response from other known deposits. The gold
zone to the north east was given the highest rating by Actlabs, the north east
and southeast silver zones were given a similarly high rating. These drill
targets are highly prospective as supported by the organic geochemical results.


The Actlabs analysis has a history of outstanding performance in the past in
terms of locating mineralization in both blind tests and in practice. Actlabs'
organic geochemistry and its interpretation have been in existence and refined
for over 15 years.


About The East Taviche and Alma Delia, Mexico Properties

In the over five year history of our exploration programs at Taviche, the
Taviche JV has had the greatest success at Higo Blanco on East Taviche and Alma
Delia. At Higo Blanco, the Company previously reported the discovery of a
high-grade silver zone extending over 300 metres of strike length; the discovery
hole HBET-03 returned 269.7 g/t silver equivalent over 34.2 metres and a 50
metre step-out hole (HBET-16) yielded 303.9 g/t silver equivalent over 36.6
metres. In addition to this silver discovery, the Taviche JV has identified a
contiguous gold zone with good indications that the gold grades increase with
depth. Our mapping shows an on-strike extension of both the silver and gold
zones for an additional 1.1 kilometres. This extension has not been thoroughly
tested. A detailed summary of Higo Blanco silver and gold assay results is
available at the Company's website (www.aurasilver.com, see Taviche Project -
Summary of Silver / Gold Assays under Investors / Presentations). During the
fall of 2011, a report under National Instrument 43-101 ("43-101") including an
initial resource estimate was completed on the Higo Blanco trend which reported
an inferred silver resource of 3.3 million ounces (865,000 tonnes at a grade of
119 g/t) and an inferred gold resource of 54,000 ounces (3.3 million tonnes at a
grade of 0.51 g/t).


The 43-101 report also included a mineral potential estimate(i) of 6 to 29
million ounces of silver (2 to 6 million tonnes at a grade of 100 to 150 g/t)
and 108,000 to 450,000 ounces of gold (10 to 20 million tonnes at a grade of 0.4
to 0.7 g/t). The 43-101 report is available at www.SEDAR.com under the Company's
profile and was filed November 16, 2011. 


(i) The potential quantity and grade is conceptual in nature, there has been
insufficient exploration to date to define this as a mineral resource and it is
uncertain if further exploration will result in the target being delineated as a
mineral resource. 


Paul Pitman, P. Geo. is Aura Silver's qualified person (as defined by National
Instrument 43-101) for the Greyhound project and has reviewed and approved the
scientific and technical information in this press release. Alain Vachon, Geol.
Eng, the Company's Vice-President of Exploration is the qualified person (as
defined by National Instrument 43-101) for the Taviche, Mexico project 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 Canada (100% owned
Greyhound project) and in Oaxaca, Mexico. Aura Silver has 101,680,844 common
shares outstanding.


FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of
the date hereof and are based on current expectations, forecasts and assumptions
which involve risks and uncertainties associated with our business including the
uncertainty as to whether further exploration will result in the target(s) being
delineated as a mineral resource, capital expenditures, operating costs, mineral
resources, recovery rates, grades and prices, estimated goals, expansion and
growth of the business and operations, the private placement financing
activities of the Company, plans and references to the Company's future
successes with its business and the economic environment in which the business
operates. All such statements are made pursuant to the 'safe harbour' provisions
of, and are intended to be forward-looking statements under, applicable Canadian
securities legislation. Any statements contained herein that are statements of
historical facts may be deemed to be forward-looking statements. By their
nature, forward-looking statements require us to make assumptions and are
subject to inherent risks and uncertainties. We caution readers of this news
release not to place undue reliance on our forward-looking statements as a
number of factors could cause actual results or conditions to differ materially
from current expectations. Please refer to the risks set forth in the Company's
most recent annual MD&A and the Company's continuous disclosure documents that
can be found on SEDAR at www.sedar.com. Aura Silver does not intend, and
disclaims any obligation, except as required by law, to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise.