Subject to certain terms and conditions, this acquisition by Aura Silver consolidates to 100%, its ownership interest in the Taviche project and eliminates a potential 1.5% net smelter royalty ("NSR") to Intrepid that would have applied to future production if Intrepid’s interest in the joint venture had fallen below 10%. Pan American Silver Corp. continues to hold a 1.5% NSR on the property.

Aura Silver believes that this transaction simplifies the ownership structure and enhances the project’s attractiveness to other potential option or joint venture partners. This acquisition will have no impact on the Company’s cost of operations for the Taviche project as Aura Silver has solely funded project activity since early 2010.

During February of 2015, the Company filed documentation with the Bureau of Mines in Mexico to affect a reduction in the overall size of the Taviche concession in order to eliminate non prospective land holdings and to significantly reduce annual concession fee costs.

Consideration payable for the acquisition of Intrepid’s project interest is comprised of 1,000,000 common shares of Aura Silver. The securities issued for this acquisition will be subject to a statutory hold period of four months and one day from their issue date. This transaction is subject to final acceptance of the TSX Venture Exchange.

Bob Boaz, CEO, states "we are pleased to consolidate a 100% ownership interest in the Taviche Project and to extinguish the joint venture royalty clause with Intrepid with the completion of this acquisition. With the ownership simplified to one party, the Company hopes to attract additional interest in the project from other potential mining parties.

"We remain excited about the potential for expansion and discovery of new gold and silver resources at the Taviche project, particularly with the discovery of promising new drill targets which were determined by recent reanalysis and consolidation of all the Company’s exploration data." (See Press Release of August. 14, 2015).

Aura Silver anxiously anticipates the launch of the 2016 Phase III exploration and drilling program at the Greyhound Project, Nunavut where exploration programs are operated and funded by the Company’s option agreement partner.