AIA

Auriga Gold Corp. (TSX VENTURE:AIA) ("Auriga Gold" or the "Company") announces
that it has executed an indicative term sheet with the Resource Income Fund L.P.
("RIF" or the "Lender") for a proposed $10 million construction loan to be used
at the Maverick Gold Project, located 65 kilometers northeast of Flin Flon,
Manitoba. The proposed $10 million loan will fund the refurbishment and
development of the Puffy Lake Mine and Mill at the Maverick Gold Project as
outlined in the Company's Preliminary Economic Assessment filed on SEDAR on
February 21, 2012. 


Richard Sutcliffe, Auriga Gold's President and CEO, commented, "We are pleased
to be working with the Resource Income Fund as we advance the Maverick Gold
Project to production. This proposed credit facility is significant in that it
will provide a flexible, non-dilutive financing option for the project."


It is anticipated that the construction loan will bear interest at an annual
percentage rate of 14% and shall be repaid no later than May 31, 2014 by 12
monthly payments of principal and interest beginning June 30, 2013. Auriga Gold
will pay an upfront commitment fee of $100,000 along with agreed upon drawdown
fees anticipated to occur in two tranches of $5mm each on or about July 15, 2012
and on or about October 31, 2012. In conjunction with the financing, it is
anticipated that RIF will be granted certain common share purchase warrants. 


It is intended that the loan will be secured against Auriga Gold's assets.
Auriga Gold will establish a gold put option price protection program with terms
subject to market conditions. The execution letter will be made final by
completion of certain items including technical and legal due diligence; close
of an aggregate of approximately CDN$8 million in equity raises; receipt of all
necessary operating permits and approvals; and, any other required conditions
that are standard for a facility of this type, including approval of the TSX
Venture Exchange.


In addition, on March 23, 2012, the Company announced the closing of gross
proceeds of $2.09 million of a private placement. The Company will not proceed
with the second tranche of the private placement that was referred to in the
March 23, 2012 press release. 


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. To view current images of the
mill, please see www.aurigagold.ca/s/photogallery.asp.


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 proposed loan,
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 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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