press release announcing the Acquisition.

Each Subscription Receipt will entitle the holder thereof to acquire at the Escrow Release Time (as defined herein), for no additional consideration

and subject to adjustment, one (1) common share of the Company (each an "Underlying Share"). The Subscription Receipts will automatically convert into Underlying Shares at the later to occur of (i) the Escrow Release Time, and (ii) concurrent with the Prospectus ualification (as herein defined), subject to the Company satisfying the Escrow Release Conditions (as herein defined) prior to the Final Escrow Deadline (as herein defined).

The Subscription Receipts will only convert into Underlying Shares pursuant to the foregoing

automatic conversion mechanism and will not be convertible upon any act by the holder. The Subscription Receipts and the Underlying Shares will be subject to

a four month hold period in Canada.

Upon the closing of the Offering, 100% of the gross proceeds of the Offering will be deposited in escrow (the "Escrowed Funds"). The Escrowed Funds will be released from escrow to the Company, net of Offering expenses, immediately prior to the closing of the acquisition by the Company of the First Stage Property (the "Escrow Release Time"), provided that the following

conditions (the "Escrow Release Conditions") have been satisfied before the Escrow Release Time:

<<

a) all conditions precedent to the closing of the acquisition of the

First Stage Property, other than the payment of the cash portion of

the purchase price for the acquisition of the First Stage Property,

shall have been satisfied and there exists no inquiry, investigation

or other proceeding of a regulatory nature that would prevent the

closing of the Acquisition (other than jurisdiction-related

regulatory requirements for the Second Stage Properties), or would

prevent or restrict the trading in or the distribution of the common

shares of the Company, the Underlying Shares or the common shares

issuable in connection with the Acquisition; and

b) the Acquisition and the issue and listing of the common shares of the

Company to be issued and listed in connection, therewith, shall have

been approved by the Toronto Stock Exchange ("TSX").

>>

In the event that either (i) the Escrow Release Conditions are not

satisfied by the Escrow Release Time, or (ii) the closing of the acquisition

of the First Stage Property does not occur on or before the date that is 115

days after the closing date (the "Final Escrow Deadline"), the Escrowed Funds,

plus any accrued interest earned thereon, shall be returned pro rata to each

holder of the Subscription Receipts in exchange for that number of

Subscription Receipts held by such holder, which will thereafter be cancelled.

If the Company fails to qualify the distribution of the Underlying Shares

upon conversion of the Subscription Receipts (the "Prospectus Qualification")

within 45 days after the closing of the Offering, each Subscription Receipt

will, subject to adjustment, thereafter be convertible for 1.05 Underlying

Shares, in lieu of one (1) Underlying Share.

Pursuant to the Offering, there will be 182,000,000 common shares

issuable, which, together with the 45,500,000 common shares issuable to the

Underwriters' option, will amount to 227,500,000 common shares. Pursuant to

the Acquisition, there will be a total of 109,721,308 common shares issuable

to Yamana Gold Inc., which, together with its current holdings of 7,000,000

common shares, will amount to 116,721,308 common shares, representing 13% of

the then issued common shares assuming the issue of the 227,500,000 common

shares pursuant to the Offering and the Underwriters' option and the

109,721,308 common shares pursuant to the Acquisition and the issue of no

other common shares. The maximum number of shares being issued pursuant to the

Offering and the Acquisition is 337,221,308, representing 56.8% of the

outstanding shares of the Company. Based on current publicly available

information as to the holdings of insiders, none of the insiders of the

Company, including the directors or officers of the Company, participated in

the Offering. In accordance with the requirements of the TSX for shareholder

approval for transactions pursuant to which greater than 25% of the

outstanding shares of the Company will be issued, and relying on an exemption

(Section 604(d)) of the TSX Company Manual) from the TSX requirement to obtain

such shareholder approval at a meeting of the shareholders of the Company, the

Company has sought and received the written consent of a shareholder holding

in excess of 52% of the issued shares of the Company approving of the

Acquisition and the Offering, including all securities to be issued in

connection therewith.

Concurrently with the closing of the acquisition of the First Stage Property, the Company intends to consolidate all of its common shares on the

basis of a factor of one new common share for five existing common shares,subject to regulatory approval.

The Offering is expected to close on or about July 15, 2009.

About Aura Minerals Inc.

Aura Minerals is a Canadian resource company focused on the acquisition, exploration and development of mining properties in the Americas. In addition

to the three newly acquired producing gold mines the Company owns the Aranzazu copper mine in Mexico and the advanced stage Arapiraca Project in north-eastern Brazil, which was originally explored in the 1980's and 1990's

for copper and gold and includes the Serrote Deposit. The project also contains magnetite (up to 50%) and nickel and the Company plans to evaluate the Arapiraca Project for all four metals which can be readily extracted. The

nearby infrastructure is excellent with ready access to electricity, water and shipping ports.

Cautionary Statement:

No stock exchange, securities commission or other regulatory authority

has approved or disapproved the information contained herein. This news

release contains forward-looking statements that are not historical facts.

Forward-looking statements involve risks, uncertainties and other factors that

could cause actual results, performance, prospects and opportunities to differ

materially from those expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from these

forward-looking statements include those risks set out in Aura Minerals'

public documents filed on SEDAR at www.sedar.com. Although Aura Minerals

believes that the assumptions and factors used in preparing the

forward-looking statements are reasonable, undue reliance should not be placed

on these statements, which only apply as of the date of this news release, and

no assurance can be given that such events will occur in the disclosed time

frames or at all. Aura Minerals disclaims any intention or obligation to

update or revise any forward-looking statement, whether as a result of new

information, future events or otherwise.

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/For further information: please visit Aura Minerals Inc.'s web site at

www.auraminerals.com, or contact: Aura Minerals Inc., Patrick Downey,

President & Chief Executive Officer, Tel: (604) 669-4777, Fax: (604) 696-0212,

Email: info@auraminerals.com, Website: www.auraminerals.com/