AURIC NEWS

WILMINGTON, Del., Aug. 2, 2012 /PRNewswire/ -- Auric Mining Company  (PINKSHEETS: AUMY) announced today that it has revised upward its  revenue projections and asset valuations based on the on  the World Gold  Council's (WGC) Gold Demand Trends report for Q1 2012.

The WGC's respected Gold Demands Trends report recently published for  Q1 2012, reported a 16% increase year on year to an estimated US$59.7  billion of the Gold Demand Value. The average price of gold for the  quarter was US$1,690.57, 22% higher than the average for Q1 2011. Demand  for the quarter was underpinned by increased demand in China, continued  central bank purchasing and inflows into exchange-traded funds (ETFs).

The WGC report continues to support the Company's aggressive  acquisition and partnership initiative focused on the gold mining  sector.  The Company had recently announced the completion of a single  $60 million asset backed Financial Guarantee permits the Company to  expedite the closing of the three (3) properties currently under the  investigative analysis stage of its due diligence process and will  permit the Company to greatly expand the scope of its recently announced  acquisition and partnership initiatives. The Company will give priority  to the recommissioning of previously producing gold properties due to  their relatively low cap-ex and high production probability and to the  acquisition and/or development of environmentally sensitive, cost saving  mining technologies.

The Company recently announced it had increased to $60 million the  total Financial Guarantees in place and that it had completed the first  phase of its due diligence on 7 properties and would be proceeding to  the next phase with three (3) of these properties. Further progress on  the finalization of these acquisitions, as well as any additional  opportunities under review will be reported in due course.

The Company has put in place the required financial and human  resources and management to leverage the significant inherent resource  value at these near term production scenarios, each with significant  undervalued growth potential. 

The Company expects to soon announce completion of specific mining  property acquisitions and/or partnerships that are currently in  progress, as well as details of specific mining technologies under  development.

About Auric Mining Co.

Auric Mining is an investment and management enterprise that acquires  and operates profitable energy companies with strong historical  cash-flow and sustainable profitability. As part of its new growth  initiative, the Company plans to acquire sector-specific technology and  assets to be integrated into existing and future operations. Auric's  primary business strategy is the acquisition of diverse, profitable  energy related assets that provide synergistic profits and revenue  enhancements across all portfolio companies.

The Company has developed and maintains an extensive database of  private and public natural resources companies which have substantial  resources already proven. The Company is constantly seeking acquisition  opportunities with significant exploration upside through purchase,  joint venture or investment. With unparalleled instincts for successful  mineral projects, a field-oriented management style and a flat  organizational structure, the Company has an ability to concentrate its  financial assets, human resources and field efforts to provide timely  decisions and a continued focus on the most prospective targets. The  company has a number of claims strategically located in this historic  mining district. The Company believes its combination of profitability  and mitigated-risk funding structures provides long-term shareholder  equity appreciation. For more information please visit the company's  website at www.auricminingcorp.com.

Forward-looking Statements

This news release contains forward-looking statements as defined by  the Private Securities Litigation Reform Act of 1995 - forward-looking  statements concerning plans, objectives, goals, strategies, future  events of performance and underlying assumptions and other statements  which are other than statements of historical facts. These statements  are subject to uncertainties and risks including, but not limited to,  product and services demand and acceptance, changes in technology and in  economic, political and regulatory conditions and to all of the risks  generally associated with a company at Auric Mining's stage of  development. All such forward looking statements, whether written or  oral, and whether made by or on behalf of the company, are expressly  qualified by these cautionary statements. In addition, the Company  disclaims any obligation to update any forward-looking statements to  reflect events or circumstances after the date hereof.

For more information contact:

Auric Mining Company
Investor Relations: 302-351-4977

SOURCE  Auric Mining Co.