On October 26, 2010, Aura Silver Resources Inc. (TSX-V:AUU) announced that it had closed the second and final tranche of its private placement financing. Including the first and second tranches, a total of 12,295,000 non-flow-through units for proceeds of $1,967,200 and 5,555,388 flow-through units for gross proceeds of $999,970 were issued in this offering. Union Securities Ltd. and Dundee Securities Corp. acted as agents for this financing.

Aura Silver intends to use the proceeds of the flow-through offering to fund an extended drilling and prospecting program and related exploration costs for its 100% owned Greyhound, Nunavut project. The non-flow-through proceeds will be used to conduct additional drilling programs at the company's highly prospective Higo Blanco project in Oaxaca, Mexico.

Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada and in Oaxaca, Mexico.

Aura Silver was advised in this transaction by Fasken Martineau with a team that included Virginia Schweitzer and Charles Lynch (securities) and William Bies (tax).