GoldMinerPulse.com -- Aura Minerals Inc.: (NI) 43-101 Metal Valuation Report

Aura Minerals Inc. (ORA)

Company Web Site: www.auraminerals.com
(NI) 43-101 reports from projects located in: Mexico (MX)  |  Brazil (BR)  |  Honduras (HN)
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-09-11. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-10.
External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading
GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-10
Project/Deposit CC MVpSh PP% MI% I% Gold Silver Copper Lead Zinc
    Arapiraca BR $15.05 0 85% 15% 776.72 K oz          1.21 M t
    San Andres HN $5.42 23% 73% 4% 3.18 M oz
    Sao Francisco BR $4.41 28% 50% 22% 2.59 M oz
    Aranzazu MX $3.79 0 79% 21%           333.14 K t
    Sao Vicente BR $1.78 32% 58% 10% 1.04 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-10
Metric / Metal Gold Silver Copper Lead Zinc
    Metal Totals 7.58 M oz          1.54 M t
    Metal Prices in US$ (from 2010-03-10) $1,107.10 per oz     $16.99 per oz     $3.34750 per lb     $1.02040 per lb     $1.05740 per lb
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $12.93     $0.00     $17.51     $0.00     $0.00
    Percentage of Total Metal Value 42.47%     0.00%     57.53%     0.00%     0.00%
    PP% | MI% | I% 24% | 65% | 12%     0 | 0 | 0     0 | 83% | 17%     0 | 0 | 0     0 | 0 | 0

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-10
    Metal Value per Share (MVpSh)    US$30.44
    Average Ore Value per Tonne    US$32.73
    Metal Value Leverage (MVL)    7.89
    Market Capitalization as % of Metal Value    12.7%
    Recent Stock Price    C$3.96   (TSX/TSXV close on 2010-03-10.)
Conversion rate used: 1 Cnd$ = 0.974756 US$ )
    Fully Diluted Share Count    649.27 M    ( Fully diluted share count taken from Aura Minterals Inc., Share Structure web page, viewed September 2009. )
    PP% | MI% | I%    10% | 75% | 15%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade    0.414 g/t
    Market Capitalization
    per oz of Gold In Ground    $330.57   US$  |   339.13   C$
    Gold Eq Oz Estimate    17.85 M oz   ( 7.58 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent    $140.40   US$  |   144.03   C$
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade     g/t
    Market Capitalization
    per oz of Silver In Ground    $0.00   US$  |   0.00   C$
    Silver Eq Oz Estimate    1.16 B oz   ( are in ground)
    Market Capitalization
    per oz of Silver Equilavent    $2.15   US$  |   2.21   C$

See terms for more about GoldMinerPulse metrics.
Additional Notes:
Arapiraca Iron Ore Value Not Reflected in this Report
Note: Arapiraca iron is not valued in this report. Contained metal quantities are shown.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Aura Minerals Inc. is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Copper
Arapiraca	BR	$15.05	0	85%	15%	776.72 K oz	1.21 M t
San Andres	HN	$5.42	23%	73%	4%	3.18 M oz
Sao Francisco	BR	$4.41	28%	50%	22%	2.59 M oz
Aranzazu	MX	$3.79	0	79%	21%		333.14 K t
Sao Vicente	BR	$1.78	32%	58%	10%	1.04 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-10
Metric / Metal	Gold	Silver	Copper	Lead	Zinc
Metal Totals	7.58 M oz		1.54 M t
Metal Prices in US$ (from 2010-03-10)	$1,107.10 per oz	$16.99 per oz	$3.34750 per lb	$1.02040 per lb	$1.05740 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$12.93	$0.00	$17.51	$0.00	$0.00
Percentage of Total Metal Value	42.47%	0.00%	57.53%	0.00%	0.00%
PP% \| MI% \| I%	24% \| 65% \| 12%	0 \| 0 \| 0	0 \| 83% \| 17%	0 \| 0 \| 0	0 \| 0 \| 0

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-10
Metal Value per Share (MVpSh)	US$30.44
Average Ore Value per Tonne	US$32.73
Metal Value Leverage (MVL)	7.89
Market Capitalization as % of Metal Value	12.7%
Recent Stock Price	C$3.96 (TSX/TSXV close on 2010-03-10.) Conversion rate used: 1 Cnd$ = 0.974756 US$ )
Fully Diluted Share Count	649.27 M ( Fully diluted share count taken from Aura Minterals Inc., Share Structure web page, viewed September 2009. )
PP% \| MI% \| I%	10% \| 75% \| 15%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade	0.414 g/t
Market Capitalization per oz of Gold In Ground	$330.57 US$ \| 339.13 C$
Gold Eq Oz Estimate	17.85 M oz ( 7.58 M oz are in ground)
Market Capitalization per oz of Gold Equilavent	$140.40 US$ \| 144.03 C$
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	g/t
Market Capitalization per oz of Silver In Ground	$0.00 US$ \| 0.00 C$
Silver Eq Oz Estimate	1.16 B oz ( are in ground)
Market Capitalization per oz of Silver Equilavent	$2.15 US$ \| 2.21 C$

See terms for more about GoldMinerPulse metrics.

Aranzazu - ^top^

(NI) 43-101 Report:

Title: NI 43-101 TECHNICAL REPORT AND AUDIT OF THE PRELIMINARY RESOURCE ESTIMATE ON THE ARANZAZU PROPERTY ZACATECAS STATE, MEXICO
Date: 2008-07-15 (113 pages)

Project Location: Zacatecas, Mexico

Map View: View the Aranzazu property on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Copper $2.98 261.97 K t 10,200.000 g/t 25.68 M t
Estimate notes: See Table 1.1 Preliminary Resource Estimate for the Copper on the Aranzazu Property (0.5% Cut-off Grade) on p. 11 of 113 in the NI 43-101 dated July 2008.
0.5% Cut-off Grade.
p.96 of 113: The Aranzazu project hosts significant copper resources with undefined concentrations of gold, silver, zinc, molybdenum, and possibly other metals such as iron, bismuth, and sulphur in pyrite which may be recoverable.

From May 2009 Presentation: Complete updated resource estimate in Q3 2009

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Copper	$2.98	261.97 K t	10,200.000 g/t	25.68 M t
Estimate notes: See Table 1.1 Preliminary Resource Estimate for the Copper on the Aranzazu Property (0.5% Cut-off Grade) on p. 11 of 113 in the NI 43-101 dated July 2008. 0.5% Cut-off Grade. p.96 of 113: The Aranzazu project hosts significant copper resources with undefined concentrations of gold, silver, zinc, molybdenum, and possibly other metals such as iron, bismuth, and sulphur in pyrite which may be recoverable. From May 2009 Presentation: Complete updated resource estimate in Q3 2009

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Copper $0.81 71.17 K t 8,100.000 g/t 8.79 M t
Estimate notes: See notes for Indicated.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Copper	$0.81	71.17 K t	8,100.000 g/t	8.79 M t
Estimate notes: See notes for Indicated.

Arapiraca - ^top^

(NI) 43-101 Report:

Title: MINERAL RESOURCE UPDATE SERROTE DA LAJE AND CABOCLO DEPOSITS OF THE ARAPIRACA COPPER-GOLD-IRON ORE PROJECT State of Alagoas Brazil
Date: 2009-04-09 (109 pages)

Updates: Aura Minerals Inc., Corporate Presentation, May 2009

Project Location: Alagoas, Brazil

Map View: View the Arapiraca project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $1.07    628.54 K oz     0.100 g/t     195.50 M t
   Copper $11.11    977.49 K t       5,000.000 g/t     195.50 M t
   Iron $0.00    30.48 M t       155,900.000 g/t     195.50 M t
Estimate notes: Serrote Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009
0.2% Cu cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.07	628.54 K oz	0.100 g/t	195.50 M t
Copper	$11.11	977.49 K t	5,000.000 g/t	195.50 M t
Iron	$0.00	30.48 M t	155,900.000 g/t	195.50 M t
Estimate notes: Serrote Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009 0.2% Cu cut-off.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $0.16    92.83 K oz     0.090 g/t     32.08 M t
   Copper $1.82    160.41 K t       5,000.000 g/t     32.08 M t
   Iron $0.00    4.62 M t       144,100.000 g/t     32.08 M t
Estimate notes: Serrote Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009
0.2% Cu cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.16	92.83 K oz	0.090 g/t	32.08 M t
Copper	$1.82	160.41 K t	5,000.000 g/t	32.08 M t
Iron	$0.00	4.62 M t	144,100.000 g/t	32.08 M t
Estimate notes: Serrote Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009 0.2% Cu cut-off.

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $0.07    39.03 K oz     0.160 g/t     7.59 M t
   Copper $0.49    43.25 K t       5,700.000 g/t     7.59 M t
   Iron $0.00    1.47 M t       193,400.000 g/t     7.59 M t
Estimate notes: Cabocolo Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009
0.2% Cu cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.07	39.03 K oz	0.160 g/t	7.59 M t
Copper	$0.49	43.25 K t	5,700.000 g/t	7.59 M t
Iron	$0.00	1.47 M t	193,400.000 g/t	7.59 M t
Estimate notes: Cabocolo Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009 0.2% Cu cut-off.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $0.03    16.32 K oz     0.110 g/t     4.62 M t
   Copper $0.30    26.31 K t       5,700.000 g/t     4.62 M t
   Iron $0.00    657.32 K t       142,400.000 g/t     4.62 M t
Estimate notes: Cabocolo Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009
0.2% Cu cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.03	16.32 K oz	0.110 g/t	4.62 M t
Copper	$0.30	26.31 K t	5,700.000 g/t	4.62 M t
Iron	$0.00	657.32 K t	142,400.000 g/t	4.62 M t
Estimate notes: Cabocolo Deposit slide 11 of 39 in Aura Minerals Inc., Corporate Presentation, May 2009 0.2% Cu cut-off.

San Andres - ^top^

(NI) 43-101 Report:

Title: AMENDED AND RESTATED TECHNICAL REPORT RESOURCES AND RESERVES ON THE SAN ANDRES MINE IN THE MUNICIPALITY OF LA UNION, DEPARTMENT OF COPAN, HONDURAS
Date: 2009-08-12 (105 pages)

Project Location: La Union, Honduras

Map View: View San Andres open pit mine on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Proven + Probable

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $1.25 731.65 K oz 0.630 g/t 36.12 M t
Estimate notes: See Table 19-3 - Reserves Evaluation on p. 81 of 105 in the NI 43-101 dated August 2009.
Cutoff -OX 0.38 and cutoff MIX 0.60.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.25	731.65 K oz	0.630 g/t	36.12 M t
Estimate notes: See Table 19-3 - Reserves Evaluation on p. 81 of 105 in the NI 43-101 dated August 2009. Cutoff -OX 0.38 and cutoff MIX 0.60.

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $3.96 2.32 M oz 0.600 g/t 120.51 M t
Estimate notes: See Table 17-6: Resources Evaluation – MCB – January 2009. Mineral Resources – Optimized Pit PV US$ 1,200. on p. 75 and 76 of 105 in the NI 43-101 dated August 2009.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$3.96	2.32 M oz	0.600 g/t	120.51 M t
Estimate notes: See Table 17-6: Resources Evaluation – MCB – January 2009. Mineral Resources – Optimized Pit PV US$ 1,200. on p. 75 and 76 of 105 in the NI 43-101 dated August 2009.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.20 119.48 K oz 0.790 g/t 4.70 M t
Estimate notes: See Measured + Indicated notes.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.20	119.48 K oz	0.790 g/t	4.70 M t
Estimate notes: See Measured + Indicated notes.

Sao Francisco - ^top^

(NI) 43-101 Report:

Title: AMENDED AND RESTATED TECHNICAL REPORT ON THE SÃO FRANCISCO MINE, MATO GROSSO STATE, BRAZIL
Date: 2009-07-27 (130 pages)

Project Location: Mato Grosso, Brazil

Map View: View São Francisco property on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Probable

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $1.24 727.77 K oz 0.710 g/t 31.88 M t
Estimate notes: See TABLE 1-4 PROBABLE MINERAL RESERVES (DECEMBER 31, 2008) on p. 21 of 130 in the NI 43-101 dated July 2009.
Mineral Reserves are estimated at a Gravity Leach Ore cut-off grade of 0.45 g/t Au and a Dump Leach Ore cut-off grade of 0.15 g/t Au.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.24	727.77 K oz	0.710 g/t	31.88 M t
Estimate notes: See TABLE 1-4 PROBABLE MINERAL RESERVES (DECEMBER 31, 2008) on p. 21 of 130 in the NI 43-101 dated July 2009. Mineral Reserves are estimated at a Gravity Leach Ore cut-off grade of 0.45 g/t Au and a Dump Leach Ore cut-off grade of 0.15 g/t Au.

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $2.22 1.30 M oz 0.610 g/t 66.26 M t
Estimate notes: See TABLE 1-3 MINERAL RESOURCES (DECEMBER 31, 2008) Aura Minerals Inc. – São Francisco Mine on p. 20 of 130 in the NI 43-101 dated July 2009.
Mineral Resources were estimated using a GLO cut-off grade of 0.45 g/t Au and a DLO cut-off grade of 0.15 g/t Au.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.22	1.30 M oz	0.610 g/t	66.26 M t
Estimate notes: See TABLE 1-3 MINERAL RESOURCES (DECEMBER 31, 2008) Aura Minerals Inc. – São Francisco Mine on p. 20 of 130 in the NI 43-101 dated July 2009. Mineral Resources were estimated using a GLO cut-off grade of 0.45 g/t Au and a DLO cut-off grade of 0.15 g/t Au.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.96 560.39 K oz 0.700 g/t 24.90 M t
Estimate notes: See TABLE 1-3 MINERAL RESOURCES (DECEMBER 31, 2008) Aura Minerals Inc. – São Francisco Mine on p. 20 of 130 in the NI 43-101 dated July 2009.
Mineral Resources were estimated using a GLO cut-off grade of 0.45 g/t Au and a DLO cut-off grade of 0.15 g/t Au.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.96	560.39 K oz	0.700 g/t	24.90 M t
Estimate notes: See TABLE 1-3 MINERAL RESOURCES (DECEMBER 31, 2008) Aura Minerals Inc. – São Francisco Mine on p. 20 of 130 in the NI 43-101 dated July 2009. Mineral Resources were estimated using a GLO cut-off grade of 0.45 g/t Au and a DLO cut-off grade of 0.15 g/t Au.

Sao Vicente - ^top^

(NI) 43-101 Report:

Title: AMENDED AND RESTATED TECHNICAL REPORT RESOURCES AND RESERVES ON THE SAO VICENTE MINE IN THE MUNICIPALITY OF NOVA LACERDA, STATE OF MATO GROSSO BRAZIL
Date: 2009-08-12 (92 pages)

Project Location: Mato Grosso, Brazil

Map View: View the Sao Vicente Mine on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Proven + Probable

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.57 334.74 K oz 0.650 g/t 16.02 M t
Estimate notes: See Table 1-2 – Mineral Reserves on p. 11 of 92 in the NI 43-101 dated August 2009.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.57	334.74 K oz	0.650 g/t	16.02 M t
Estimate notes: See Table 1-2 – Mineral Reserves on p. 11 of 92 in the NI 43-101 dated August 2009.

•Measured + Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $1.03 605.44 K oz 0.739 g/t 25.48 M t
Estimate notes: See Table 1-1 - Total Resource by Category, MIK 10 x 10 x 5 m Model on p. 10 of 92 in the NI 43-101 dated August 2009.
*Resource calculated at 0.20 g/t Au cut-off

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.03	605.44 K oz	0.739 g/t	25.48 M t
Estimate notes: See Table 1-1 - Total Resource by Category, MIK 10 x 10 x 5 m Model on p. 10 of 92 in the NI 43-101 dated August 2009. *Resource calculated at 0.20 g/t Au cut-off

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $0.17 101.22 K oz 0.869 g/t 3.62 M t
Estimate notes: See notes for Measured + Indicated.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.17	101.22 K oz	0.869 g/t	3.62 M t
Estimate notes: See notes for Measured + Indicated.


PartyCasino is the online casino operated by PartyGaming Plc. PartyGaming Plc is listed on the London Stock Exchange and is part of the FTSE 250 in the Travel & Leisure sector.