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 it has entered into an agreement with Industrial Alliance Securities
Inc. ("Industrial Alliance") and Secutor Capital Management Corporation
("Secutor") (collectively, the "Agents"), in connection with a brokered private
placement offering (the "Offering") of up to 8,750,000 "flow-through" units at
$0.40 per "flow-through" unit (the "Flow-Through Units") and up to 2,857,142
units at $0.35 per unit (the "Units") for aggregate gross proceeds to the
Company of up to $4,500,000. 


Each Flow-Through Unit will consist of one "flow-through share", as defined in
subsection 66(15) of the Income Tax Act (Canada), and one-half of one common
share purchase warrant (each whole warrant, a "Warrant"). Each Unit will consist
of one common share and one Warrant. Each Warrant shall entitle the holder
thereof to acquire one common share of the Company (on a non-flow-through basis)
at a price of $0.50 until the date which is 12 months following the closing date
of the Offering.  


Richard Sutcliffe, Auriga Gold's President and CEO commented, "We are pleased to
receive the support of Industrial Alliance and Secutor as we continue to develop
our Maverick Gold property and move towards our targeted open pit test mining."
Proceeds of the Offering will be used for exploration expenditures and
development activities on the Company's projects in Manitoba and British
Columbia and for general working capital purposes. 


All securities issued in connection with the Offering will be subject to a hold
period of four months and a day from the closing date of the Offering. The
Offering is subject to the approval of the TSX Venture Exchange. In connection
with the Offering, a cash commission of 7.5% of the aggregate gross proceeds
from the Offering will be paid to the Agents. 


About Auriga Gold 

Auriga Gold Corp. is a Canadian mine development and exploration company focused
on developing the Puffy Lake Mine and expanding gold resources on its Puffy Lake
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 Lake Mine
back into production. The Puffy Lake 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 Offering, use
of proceeds, the future develop the Maverick Gold property and move towards
targeted open pit test mining. 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 Six Months ended September 30, 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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