AIA

NOT FOR DISTRIBUTION TO A US NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED
STATES


Auriga Gold Corp. (TSX VENTURE:AIA) ("Auriga Gold" or the "Company") is pleased
to announce that it has entered into a non-binding term sheet with a private,
institutional investor with regard to a US$23 million gold prepay agreement, the
net proceeds of which will be used to fund the development of the Company's
Maverick Gold Project, located 65 kilometers northeast of Flin Flon, Manitoba.
The proposed US$23 million financing will fund the refurbishment and development
of the Puffy Mine and Mill at the Maverick Gold Project as outlined in the
Company's Preliminary Economic Assessment filed on SEDAR on February 21, 2012.
The facility will replace the indicative term sheet for a US$10 Million loan
announced on April 26, 2012.


Richard Sutcliffe, Auriga Gold's President and CEO, commented "We are very
pleased to have a facility that we expect will fully fund the Maverick Gold
Project to production. This proposed credit facility is significant in that it
will provide a non-dilutive financing option for the project and enable the
Company to retain certain flexibility on metals payments and pricing of the
majority of gold production."


The gold prepay facility will be repaid by delivery of predetermined gold
amounts averaging less than 20% of the scheduled gold production for a period of
36 months following a 6 month grace period. The balance of production remains
unallocated and the Company retains the flexibility to sell such unallocated
production as it sees fit, including pricing production at the then prevailing
market rates. The gold prepay facility is subject to completion of technical and
legal due diligence, definitive documentation, and receipt of regulatory
approvals, including that of the TSX Venture Exchange, and conditions precedent
typical of transactions of this nature. Knight Capital Americas, L.P., a
subsidiary of Knight Capital Group, Inc. based in New Jersey, is acting as
advisor to Auriga Gold on this transaction.


About Auriga Gold 

Auriga Gold Corp. is a Canadian mine development and exploration company focused
on developing the Puffy Mine and expanding gold resources on its Puffy and
Nokomis deposits (the "Maverick Gold Project"). The Company plans to upgrade and
expand the resources at the Maverick Gold Project, initiate test mining,
complete feasibility studies of mineral reserves, and bring the Puffy Mine back
into production. The Puffy Mine includes a 1,000 tpd flotation mill, a developed
underground ramp to 135 metres depth, is fully road accessible and close to
existing mining infrastructure. The Maverick Gold Project is located in the Flin
Flon Greenstone Belt of Central Manitoba.


This news release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, information with respect to the financing, use
of proceeds and the future develop the Maverick Gold property. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects", or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"does not anticipate", or "believes" or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might",
or "will be taken", "occur", or "be achieved". Forward-looking information is
based on the opinions and estimates of management at the date the information is
made, and is based on a number of assumptions and is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking
information, including risks associated with the exploration, development and
mining such as economic factors as they effect exploration, future commodity
prices, changes in foreign exchange and interest rates, actual results of
current exploration activities, government regulation, political or economic
developments, environmental risks, permitting timelines, capital expenditures,
operating or technical difficulties in connection with development activities,
employee relations, the speculative nature of gold exploration and development,
including the risks of diminishing quantities of grades of reserves, contests
over title to properties, and changes in project parameters as plans continue to
be refined as well as those risk factors discussed in the Company's Management's
Discussion and Analysis for the Three and Nine Months ended December 31, 2011,
available on www.sedar.com. Although Auriga Gold has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. Auriga Gold does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.

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