Aurelian Resources Inc.
TSX VENTURE : ARU

Aurelian Resources Inc.

January 31, 2007 11:53 ET

Aurelian Intersects 102.49 Metres at 4.98 g/t Gold and 171.85 Metres at 3.40 g/t Gold in Drilling at FDN

TORONTO, ONTARIO--(CCNMatthews - Jan. 31, 2007) - Aurelian Resources Inc. (TSX VENTURE:ARU) today announced results from seven additional drill holes from the buried epithermal gold-silver discovery at Fruta Del Norte (FDN) on its wholly-owned Condor Project in south-eastern Ecuador. These include a 102.49 metre interval grading 4.98 g/t gold (Au) and 9.9 g/t silver (Ag) in drill hole CP-06-92, and a 171.85 metre interval grading 3.40 g/t Au and 6.2 g/t Ag in drill hole CP-06-89. In addition, a bonanza grade epithermal vein was intersected in drill hole CP-06-87 which assayed 5.70m @ 75.84g/t Au.

Maps, cross sections, photos and full gold and silver assay data from this and previous press releases may be viewed at www.aurelian.ca.

"The drilling continues to expand the size of the system as well as confirming that we have a very good understanding of the geometry of the system which remains open to the south" says Aurelian President & CEO Patrick F. N. Anderson. "Our work program continues unabated into the new year and we currently have 5 drill rigs working 24 hours a day and 7 days a week on the FDN discovery. A new road onto the discovery has greatly facilitated the logistics of supporting the additional machines, crews and core produced. Once current infrastructure upgrades to our camp are complete, we will be able to deploy one of the smaller rigs to further test targets defined by our regional program."

Results are summarized in the tables below. Intervals containing high grade assays have been re-calculated using a geostatistical top cut of 105g/t gold.



---------------------------------------------------------------------------
Uncut data
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Cross Drill From To Interval Au Ag
section hole (metres) (metres) (metres) g/t g/t Comment
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CP-06-90 385.75 511.00 125.25 1.72 6.0
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CP-06-90 546.00 587.20 41.20 1.56 14.3
9582800N ------------------------------------------------------------------
CP-06-90 593.10 604.00 10.90 0.99 4.7
------------------------------------------------------------------
CP-06-90 680.30 688.30 8.00 1.62 2.7
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CP-06-87 369.00 454.00 85.00 7.61 11.1
------------------------------------------------------------------
9582900N including 419.10 424.80 5.70 75.84 17.1 Banded
epithermal vein
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CP-06-87 459.90 663.00 203.10 1.29 9.4
---------------------------------------------------------------------------
CP-06-89 341.85 513.70 171.85 3.40 6.2
------------------------------------------------------------------
9583200N including 384.20 444.20 60.00 5.51 4.0
------------------------------------------------------------------
CP-06-89 525.70 542.70 17.00 1.81 5.8
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CP-06-92 316.00 418.49 102.49 4.98 9.9 Hole lost, ends
9583600N in mineralization
------------------------------------------------------------------
including 353.40 389.60 36.20 8.77 11.8
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Note: intervals are calculated using a lower cut of 0.5g/t Au and no top
cut, they include a maximum of 5m internal waste.
---------------------------------------------------------------------------



----------------------------------------------------------------------
Intervals with a top cut of 105g/t Au
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Cross Drill From To Interval Au Ag
section hole (metres) (metres) (metres) g/t g/t
----------------------------------------------------------------------
9582900N CP-06-87 369.00 454.00 85.00 6.09 11.1
----------------------------------------------------------------------
9583200N CP-06-89 341.85 513.70 171.85 2.94 6.2
----------------------------------------------------------------------
Note: intervals are calculated using a lower cut of 0.5g/t Au and a
105g/t Au top cut, they include a maximum of 5m internal waste.
----------------------------------------------------------------------


CP-06-87 (azimuth 089/dip -56) was drilled on line 9582900N, between and south of drill holes CP-06-83 and 85. The drill hole intersected epithermal quartz-carbonate-sulphide veining and brecciation, including a banded vein with abundant visible gold assaying 5.70m @ 75.84m. This vein correlates well with veins seen in drill holes CP-06-83 and CP-06-85.

On section 9583200N, drill hole CP-06-89 (azimuth 86/dip -65) was drilled to test the mineralized system down dip from holes CP-06-52 and 55. The hole drilled through the west fault at 337m and into intense epithermal quartz-carbonate-sulphide mineralization assaying 171.85m @ 3.40g/t Au and 6.2g/t Ag. Within this interval higher grade zones (60m @ 5.51g/t Au) also occur.

CP-06-90 (azimuth 089/dip -67) was drilled on line 9582800N. The hole intersected a broad zone of epithermal mineralization from 385m, assaying 125.25m @ 1.72g/t Au and 6.0g/t Ag and 41.20m @ 1.56g/t Au and 14.3g/t Ag.

One drill rig has been moved back to the central part of FDN to test the vertical extents of the system and also infill drill in preparation for a resource estimate. This rig has completed drill hole CP-06-92 (azimuth 88/dip -63) on section 9583600N that was designed to undercut drill holes CP-06-64 and 66. The hole intersected very intense mineralization from 316m to the end of hole (418.49m) which assayed 102.49m @ 4.98g/t Au and 9.9g/t Ag. The drill hole was lost within mineralization due to a collapse when the rods were pulled for a bit change.

Drill hole,CP-06-88, which was drilled approximately 1200 metres south of FDN, appears to have encountered the margin of the Camp porphyry and did not intersect significant epithermal mineralization. Drill hole CP-06-91 (south of FDN on section 9582000N) was halted while still in the Suarez Formation conglomerates due to technical difficulties during drilling.

Drill holes with assays pending or in progress include infill holes CP-07-95 and 96 on section 9583600N. Both drill holes have intersected very intense mineralization higher than expected, with the top of the mineralized block approximately 100m vertically below surface on this section. CP-06-94, CP-07-98 and 99 are in progress on sections 9582800N, 9582700N and 9582600N respectively to test the southern continuation of FDN. Drill holes CP-07-98 and 99 have intersected buried quartz sinter within the Suarez Formation conglomerates, either hole has yet to intersect the underlying volcanics. Drill hole CP-07-97 is in progress further south on section 9582000N to test an area where epithermal silicification and marcasite replacement of the conglomerate has occurred at depth.

Drill hole CP-06-86, the final hole drilled at Las Arenas, did not intersect significant mineralization.

Forty-two diamond drill holes have been completed at the FDN prospect to date. Further drill results will be released as analytical data are received, validated and compiled.

The FDN target is interpreted to be an intermediate sulphidation epithermal gold-silver system. The deposit is buried by dominantly post-mineralization basin infill sediments (Suarez Formation) of Jurassic age within a pull-apart basin. The hydrothermal system is characterized by a combination of multiphase quartz-carbonate-sulphide stock work veining and hydrothermal brecciation within intensely silicified andesitic volcanic rocks that underlie the basin. In the southern part of FDN (south of 9583500N), the system is interpreted to dip moderately to steeply westward with a vertical structure bounding it to the east, and is cut by a steep east-dipping fault to the west. At the north end of the system (including and north of line 9583500N) the vein orientations and correlation of mineralization between drill holes indicates that the system is vertical. This makes the true width of the system between 45% and 60% of the down hole intervals reported in this press release.

Samples consist of half NQ, NTW and BTW-size diamond core that are split by diamond saw on site, prepared at the ALS Chemex laboratory in Quito, and assayed by 50g fire assay with an ICPAES or gravimetric finish at the ALS Chemex Vancouver Laboratory. The quality assurance-quality control (QA-QC) program of Aurelian includes the insertion of certified standards of known gold content every 20 samples, blanks at least every 20 samples and field or lab duplicates every 20 samples. Samples from significant drill intercepts are sent to two additional laboratories to verify gold and silver analyses. The remaining half core is retained on site for verification and reference purposes.

Stephen Leary (MAusIMM), Aurelian's Exploration Manager, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.

About Aurelian:

Aurelian Resources Inc. is a publicly-listed (TSX VENTURE:ARU) junior resource company engaged in the business of exploring, discovering and developing mineral wealth in Ecuador. The Fruta del Norte discovery lies at the heart of the Condor Project properties, located in south-eastern Ecuador and consisting of 38 mining concessions totaling approximately 95,000 hectares.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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