TORONTO, ON--(Marketwired - October 04, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Aura Minerals Inc. (the "Company") (TSX: ORA) announces that further to the Company's press release dated October 3^rd with respect to closing the Company's rights offering (the "Rights Offering") for gross proceeds of CAD$5,451,942:

• The number of Common Shares issued pursuant to the basic subscription privilege was 31,822,000 common shares. Of these, 24,670,525 Common Shares were issued to persons who were insiders before the closing of the Rights Offering, and 7,151,475 Common Shares were issued to all other persons.
• The number of Common Shares issued pursuant to the additional subscription privilege was 4,524,284. Of these, 3,498,786 Common Shares were issued to persons who were insiders before the closing of the Rights Offering, and 1,025,498 Common Shares were issued to all other persons.

Jim Bannantine, the Company's President & CEO commented, "We are very happy to see such a high level of participation across our shareholder base. We feel like this was a very good way for our existing shareholders to help in funding the restart and expansion of our important Ernesto Pau a Pique project, which will take the place of our Sao Francisco gold production in Brazil next year."

To the knowledge of the Company, after reasonable inquiry, no persons became an insider of the Company from the distribution under the Rights Offering.

As the total number of Common Shares issued under the Rights Offering was greater than the backstop commitment, no Common Shares were issued pursuant to the backstop commitment with Northwestern Enterprises Ltd. No fees or commissions were payable in connection with the backstop commitment and the Company did not retain any party to solicit subscriptions on its behalf.

Following the Rights Offering, the Company has 327,116,557 Common Shares issued and outstanding.

Cautionary Note

This news release contains certain "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements relate to future events or future performance and reflect the Company's current estimates, predictions, expectations or beliefs regarding future events and include, without limitation, statements with respect to the rights offering and the Ernesto Pau a Pique project and Sao Francisco.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.