AURYN Mining Corp. (AUMC)

[EatYourShorts]

July 1 , 2011

Juan José Quijano, the General Manager of Cerro Dorado, Inc. (Chile) SA has informed Cerro Dorado, Inc. (USA) that the Alto de Lipangue properties in Chile, owned by Cerro Dorado, Inc. (Chile) SA, have been excluded from the proposed Joint Venture Agreements with other owners of the Alto de Lipangue properties. This was a decision by the investing Joint Venture partners.

Sr. Quijano reports that negotiations with a "London Group" have progressed and a "proposal for the acquisition" of Cerro Dorado, Inc. (Chile) SA property has been completed and a formal Letter of Intent should be forthcoming shortly. Property examinations, by their geologists, has been satisfactory completed. Cerro Dorado, Inc. (Chile) SA own the Fortuna de Lampa property and some adjacent properties totaling approximately 2,000 hectares.

The proposed agreements calls for an end price acquisition of an 85% interest in the claims of $50,000,000 (fifty million), with staged cash payments over a 36-month period and a substantial exploration budget. Further details to follow upon receipt of the "Letter of Intent".

Cerro Dorado, Inc. Board of Directors looks forward with great anticipation for the completion of this Joint Venture with the above aforementioned group.

Kindest Regards

The Board of Directors
Cerro Dorado, Inc