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Aurcana To Complete Non-Brokered Private Placement For Up To Cdn$3,300,000 On Best Efforts Basis


October 15, 2009

Aurcana Corporation ("Aurcana" or the "Company") is pleased to announce that, subject to TSX Venture Exchange ("Exchange") approval, the Company will conduct on a best efforts basis, a non-brokered private placement for up to 15,000,000 units at $0.22 (the "Unit") for proceeds of CDN$3,300,000 (the "Offering"). Each Unit will consist of one share (a "Share") and one half of one common share purchase warrant. One full common share purchase warrant (a "Warrant") will permit the holder to purchase a further common share (a "Warrant Share") for a period of 18 months from closing at a price of $0.35 per Warrant Share, provided that if the closing price of the Company's shares as traded on the Exchange, subsequent to four months from Closing, is at or over $0.70 per share for 20 consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants upon giving 30 days notice to the holders thereof. Finders' fees in accordance with the Policies of the Exchange in the amount of 7% cash and warrants at a price of $0.30 per warrant on the same terms as the Offering Warrants may be paid on a portion of the financing.

The proceeds of the private placement will be used for the advancement of, the Company's expansion plans for La Negra Mine from 1000 tonnes per day to 1500 tons per day; feasibility and permitting work at the Shafter Mine; and to provide general working capital. 

Since start up of La Negra's 1,000 tonne per day mill in June 2007 and through to June 2009, 600,000 tonnes of ore were mined and processed at the La Negra mill resulting in a total production of 1.2 million ounces silver, 5 million pounds copper and 6.5 million pounds of zinc. Projected production for fiscal year 2009 is 750,000 ounces of silver and 3 million pounds of copper in addition to 3 million pounds of zinc. The Company will begin expansion of the mill towards 1,500 tonnes per day to be completed in early 2010. Upon the success of the expansion, annual production is estimated at 1.2 million ounces of silver, 5 million pounds of copper and 5 million pounds of zinc. A lead recovery circuit is also being studied and is anticipated to be installed after the main expansion.

In accordance with securities legislation currently in effect, the Shares, the Warrants and the Warrant Shares issued pursuant to the Offering will have a restricted "hold" period of four months plus one day from the date of closing of the Offering.

The offered securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.

About Aurcana Corporation:
The Shafter silver mine, with a 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, is scheduled to produce at 3.5 million ounces silver per year. The 92% owned La Negra silver-lead-zinc-copper mine in Queretaro State, Mexico, estimates production at 1.2 million ounces silver, 5 million pounds of copper and 5 million pounds of zinc when production expansion to 1,500 tpd is completed in early 2010. The reader should be cautioned the Company has not completed a feasibility study confirming the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable. 

Ron Nichols, P.Eng. a Director and Sr. Vice President for Aurcana, and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.


ON BEHALF OF THE BOARD OF DIRECTORS OF
AURCANA CORPORATION

"Lenic Rodriguez", President 

For further information, visit the website at www.aurcana.com or contact:
Jack Barnes, Manager Investor Relations
Aurcana Corporation
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Email: jbarnes@aurcana.com

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 and general economic conditions. 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.

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

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