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 closed the first tranche its private placement (the
"Offering"), which was previously announced on February 14, 2012 and amended on
March 15, 2012. The Company issued 5,217,985 "flow-through" units at $0.345 per
"flow-through" unit (the "Flow-Through Units") for aggregate gross proceeds to
the Company of $1,800,204.83 and 975,000 units at $0.30 per unit (the "Units")
for aggregate gross proceeds to the Company of $292,500. Each Flow-Through Unit
consists 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 "Flow-Through Warrant"). Each Flow-Through Warrant issued in
connection with the Offerings shall entitle the holder thereof to acquire one
common share of the Company (on a non-flow-through basis) at a price of $0.45
until March 23, 2014. Each Unit consists of one common share and one common
share purchase warrant (a "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 $0.40 until March 23, 2014.  


Industrial Alliance Securities Inc. and Secutor Capital Management Corporation
(collectively, the "Agents"), acted as agents for and on behalf of Auriga Gold
in connection with a brokered private portion of the Offering, pursuant to which
they received a cash commission equal to $110,977.88. The remaining Offering was
completed on a non-brokered basis, pursuant to which the Company paid a finder's
fee equal to $42,210 and issued 131,250 finders' warrants each of which is
exercisable to acquire one common share at a price of $0.35 until March 23,
2013. 


The securities issued are subject to a hold period expiring July 24, 2012 in
accordance with the rules and policies of the TSX Venture Exchange and
applicable Canadian securities laws. 


The gross proceeds from the sale of the Flow-Through Units will be used for
exploration of the Company's Manitoba property and the net proceeds from the
sale of the Units will be used for general working capital purposes. The
Offering remains subject to the final approval of the TSX Venture Exchange. The
Company expects that the second tranche of its private placement will close on
or prior to April 5, 2012.


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 work
towards upgrading and expanding 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 closing of the
second tranche of the private placement financing, 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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