Aurcana Announces C$25 Million Marketed Private Placement Financing

Aurcana Corporation ("Aurcana" or the "Company") announced today that it intends to sell C$25 million dollars of units (each, a "Unit"), each Unit to consist of one common share in the capital of the Company and one half of one common share purchase warrant (a "Warrant") by way of private placement (the "Offering"). The Offering will be conducted through a syndicate of agents (the "Agents") led by RBC Capital Markets and includes Dundee Securities Ltd. and Stonecap Securities Inc. The Offering will be carried out on a best efforts basis with pricing and terms of the Units to be determined in the context of the market, to be announced in a subsequent news release. In addition, the Company will grant to the Agents an option, exercisable in whole or in part at any time up to 48 hours prior to closing of the Offering, to offer an additional number of Units representing 15% of the Offering, on the same terms as the Offering.

The proceeds of the Offering will be used to complete the ongoing construction of the Shafter mine, mill expansion at the La Negra mine and for general corporate purposes and working capital.

Aurcana's CEO and President Lenic Rodriguez stated, "We are pleased with the announcement of this financing that will allow Aurcana to complete construction of the Shafter mine and continue the expansion of the La Negra mill. The Company greatly looks forward to making its transition from a junior to mid-tier producer upon the completion of Shafter in May 2012."

The Offering is subject to certain customary closing conditions, including but not limited to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. All securities of the Company issued in connection with the Offering will be subject to a hold period in Canada of four months and one day from the date of issuance of the securities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offer and sale of the Units has not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless(i) the offer and sale thereof is registered pursuant to an effective registration statement under the U.S. Securities Act and applicable state securities laws; or (ii) an exemption from the registration requirements of the U.S. Securities Act is available. The offer and sale of the Units in the United States will be conducted in a private placement in reliance on Rule 506 of Regulation D, promulgated under the U.S. Securities Act. The Unit Shares and Warrants sold to U.S. Persons (as that term is defined in Rule 902(k) of Regulation S, promulgated under the U.S. Securities Act ("Regulation S")) and shares of common stock underlying the Warrants sold to U.S. Persons may not be reoffered or resold except (i) pursuant to an effective registration statement under the U.S. Securities Act (ii) pursuant to the safe harbor from the registration requirements of the U.S. Securities Act provided by Rule 904 of Regulation S or (iii) pursuant to another applicable exemption from the registration requirements of the U.S. Securities Act.

Corporate 

The Company's common shares trade in Canada on the TSX Venture Exchange under the symbol "AUN" and in the United States on the OTCQX under the symbol "AUNFF". Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com

About Aurcana Corporation: 

The Shafter Silver Mine is scheduled to start production within 7 months and it is estimated that it will produce 3.8 million ounces silver in the first year of operation. It has an NI 43-101 Measured and Indicated Resource of 24.6 million ounces of silver and an Inferred Resource of 22.8 million ounces of silver using a 4.0 ounce per ton cut off as set out in the Feasibility Study.

The 92% owned La Negra silver-lead-zinc-copper mine has been operating since 2007 and has produced 1 million ounces of contained Silver over the last 4 quarters.

The reader should be cautioned that the Company has not completed a feasibility study on La Negra to confirm the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable

ON BEHALF OF THE BOARD OF DIRECTORS OF

AURCANA CORPORATION

"Lenic Rodriguez", President & CEO
For further information, visit the website at www.aurcana.com or contact:

Aurcana Corporation
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Gary Lindsey, Corporate Relations
Phone: (720)-273-6224
Email: gary@strata-star.com

NR# 11-13

Caution Regarding Forward-Looking Statements -- This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel, general economic conditions, global economy, speculative nature of exploration activities, periodic interruptions to exploration, development and mining activities, environmental hazards and liability, industrial accidents, failure of processing and mining equipment to perform as expected, labor disputes, supply problems, uncertainty of production and cost estimates, the interpretation of drill results and the estimation of mineral resources and reserves, legal and regulatory proceedings and community actions, title matters, regulatory restrictions, permitting and licensing. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The scientific and technical information contained in this news release has been reviewed by Andy Nichols, P.Eng. Vice President of Operations of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).