The Letter of Intent specifies a schedule of payments to the vendor over the term of the agreement, including consideration of US$65,000 on signing of this agreement for a six month due diligence period Subject to regulatory approvals, the agreement contains the following payment schedule: A first option payment of US$ 175,000 due at the end of the due diligence period; US$ 350,000 which is due on the first anniversary of the first option payment; US$ 500,000 which is due on the second anniversary; and, US$ 1,000,000 which is due on the third anniversary. A final payment of US$ 4,010,000 million is due on receipt of a NI 43-101 compliant positive bankable feasibility study. Aurea and the vendor have agreed to enter into a definitive agreement which is expected to be finalized during the due diligence period and which will also be subject to regulatory approval. A recoverable 15% goods and services tax (IVA) is additional to these payments.

The Monte Alb·n project is part of the Taviche Mining District. The district is well known for its high grade narrow vein deposits and was one of the most prolific mining areas in Mexico for silver and gold during the late 1800's and early 1900's. The Taviche district is known for its epithermal narrow veins and stockwork zones with historic high grades of gold and silver and with copper and base metal credits. Historic information available for the area is sourced from the Servicio GeolÛgico Mexicano, the Mexican Geological Survey (the "SGM") who completed a compilation of many of the underground workings on the property when it was part of a government mineral reserve during the 1980's and 1990's.

The Monte Alb·n property is located about 12 kilometres northeast of the San JosÈ project operated jointly by Fortuna Silver Mines and Continuum Resources, and is on strike of the Taviche project operated jointly by Intrepid Mines and Aura Silver. All projects in the Taviche Mining District share a similar geological and mineralizing environment.

Aurea's Monte Alb·n project is believed to be situated in the upper parts of a large epithermal system. The property includes several former producing mines, historically known for medium to high grade gold and silver veins with copper, lead, and zinc credits. The property also includes several new, untested targets.

Monte Alb·n's gold-silver mineralization is hosted by a system of narrow quartz veins, hydrothermal breccias and intrusion hosted stockwork mineralization typical of the mining district. Most of the past producing mines occur on the same northwest trending vein system on the property that is the northerly continuation of Intrepid's Taviche project to the south.

Veins from the past producing mines are reported by the SGM to vary from <1 meter to more than 10 meters in width, averaging 1-3 metres. They have a 3km strike length well within Aurea's property limits.

Historical mine workings are of limited extent along strike and vary in depth from 25 metres to 180 meters below the surface. The past producing mines on the Monte Alb·n project also have reported high grade bonanza zones up to 40m wide. New targets occur on parallel northwest veins, on an observed north-south system and on an untested observed stockwork mineralization. Modern exploration methods have never been utilized on the property.

Some selected historical sample results taken from SGM compilation reports on the property show the range of historical grades from various past producing mines on the property.

Aurea plans an exploration program that will expand the known mineralization, including drill-testing beneath known mine workings and along the entire 3 kilometres strike length exposed on the Monte Alb·n property. Several new targets for high grade gold and silver will also be the focus of Aurea's exploration and drill program over the next 18 months. Management's objective is to define a NI 43-101 mineral resource sufficient to justify mine development at Monte Alb·n.

The property consists of a group of seven contiguous claims, the largest claim, Monte Alb·n I, is a 2, 640.81 hectare claim that was part of a mineral reserve auctioned off by the Mexican government and is currently subject to a 3% NSR royalty payable to the government. All remaining claims cover the bulk of the past producing mines on the property and are not subject to an NSR royalty.

Aurea Mining Inc. is focused on gold exploration in Mexico. The company also controls a 100% interest in over 80,000 hectares of contiguous mineral claims strategically located in the emerging Guerrero Gold Belt of Guerrero State, MÈxico. The Guerrero Gold belt currently has a 12 million ounce gold inventory and is being explored and developed by several major mining companies. Aurea is actively exploring and drilling their Guerrero projects, and continues with their goal of building shareholder value through exploration and discovery. The addition of the Monte Alb·n Property represents a significant opportunity in keeping with the company's plans.

Ken Thorsen, a director of the Company, is the qualified person under NI 43-101 for Aurea Mining; and has reviewed and approved the contents of this news release.

On behalf of the Board of Directors

For further information, please contact Gillian Kearvell -- 604-484-9849 or Aurea Mining Inc. -- www.aureamining.com

This news release may contain forward-looking statements regarding future exploration programs and events. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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