Aurora Energy Resources Inc.
TSX : AXU

Aurora Energy Resources Inc.

August 07, 2008 09:04 ET

Aurora's Infill Drill Results Reinforce Jacques Lake Resource, Labrador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2008) - Aurora Energy Resources Inc. ("Aurora" or "the Company") (TSX:AXU) is pleased to announce the initial results of its 2008 summer drill program at the Company's 100% owned Jacques Lake deposit ("Jacques Lake") in coastal Labrador.

"The results continue to enhance the continuity of grade and the overall potential of Jacques Lake," said Aurora's President and CEO, Dr. Mark O'Dea. "As with the recently announced drilling results for the Michelin deposit, the combined data from the Company's 2008 winter and summer infill programs at Jacques Lake will assist Aurora with pre-feasibility work by contributing to the conversion of inferred to indicated NI 43-101 resource categories."

Highlights of the summer infill program include:

- 0.22% U3O8 over 7.00 metres in JL08-094

- 0.14% U3O8 over 12.56 metres in JL08-097 as part of a broader zone that returned 0.07% U3O8 over 35.33 metres

- 0.12% U3O8 over 4.00 metres in JL08-090 as part of a broader zone that returned 0.06% U3O8 over 22.00 metres

- 0.09% U3O8 over 6.00 metres in JL08-088 as part of a broader zone that returned 0.05% U3O8 over 19.00 metres

A total of 6,205 metres in fourteen holes have been completed. Results of eleven of these holes are reported here with analytical results pending for the remaining three holes.



The drill results for the initial eleven holes are as follows:

-----------------------------------------------------------
From To Length
Hole ID (m) (m) (m)(i) %U3O8
-----------------------------------------------------------
JL08-085 361.45 362.45 1.00 0.05
-----------------------------------------------------------
JL08-086 Aborted hole
-----------------------------------------------------------
JL08-088 314.00 333.00 19.00 0.05
incl. 314.00 319.00 5.00 0.06
and incl. 327.00 333.00 6.00 0.09
-----------------------------------------------------------
JL08-089 388.00 390.00 2.00 0.07
and 313.00 318.00 5.00 0.07
and 353.00 357.00 4.00 0.08
and 447.00 455.00 8.00 0.07
-----------------------------------------------------------
JL08-090 360.00 382.00 22.00 0.06
incl. 360.00 361.87 1.87 0.08
and incl. 365.00 370.00 5.00 0.09
and incl. 378.00 382.00 4.00 0.12
-----------------------------------------------------------
JL08-091 293.00 295.00 2.00 0.05
and 298.00 302.00 4.00 0.09
-----------------------------------------------------------
JL08-092 476.00 478.00 2.00 0.06
-----------------------------------------------------------
JL08-093 435.00 436.00 1.00 0.04
and 440.20 441.25 1.05 0.05
-----------------------------------------------------------
JL08-094 222.00 229.00 7.00 0.22
and 234.50 238.00 3.50 0.19
and 271.90 274.00 2.10 0.07
and 356.69 359.69 2.70 0.03
-----------------------------------------------------------
JL08-095 372.48 373.48 1.00 0.04
-----------------------------------------------------------
JL08-096 597.51 598.51 1.00 0.06
-----------------------------------------------------------
JL08-097 201.96 237.29 35.33 0.07
incl. 207.04 219.60 12.56 0.14
and incl. 234.28 237.29 3.01 0.13
and 281.44 298.00 16.56 0.05
-----------------------------------------------------------
(i) The mineralized zones at Jacques Lake are interpreted
as a steep southeast dipping structure such that true
widths are approximately 80-90% of stated widths.


For a view of the updated long section at Jacques Lake, please use the following link: www.aurora-energy.ca/files/JacquesLake_LS_073108.jpg

Jacques Lake is one of six uranium deposits 100% owned by Aurora within the Central Mineral Belt of Labrador. In three years, it has evolved from an undrilled surface showing to a significant and growing deposit. Both the Jacques Lake and Michelin deposits lend themselves to conventional open pit and underground mining and processing techniques and both remain open for expansion.

ABOUT AURORA

Aurora is a uranium development company focused on the Central Mineral Belt in coastal Labrador - one of the world's most promising uranium districts. Aurora is currently completing its 2008 summer work program, details of which can be found in the May 15, 2008 news release titled, "Aurora's 2008 Work Program Aims to Progress Community Efforts and Demonstrate Resource Value".

Aurora has no debt and approximately $113 million in cash that is fully liquid and held with a large commercial bank.

Aurora is committed to responsible development, which includes community consultation, lasting local benefits and the highest standards of safety, health, and environmental protection.

Assay results have been prepared under the guidance of Cameron McLean, P.Geo., Exploration Manager, CMB Project for Aurora Energy Resources Inc., who is designated as a Qualified Person with the ability and authority to verify the authenticity of and validity of this data. Drill core was prepared and analyzed in accordance with industry standards by Activation Laboratories Ltd., Ancaster, Ontario.

Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking statements". Such forward-looking statements, including but not limited to, those with respect to the timing and amount of estimated future resources and resource conversion rates, future operations, project costs and production, potential for expansion of resources and potential size of future exploration programs and potential timing of receipt of permits and classification of future mineral resources, and potential for future benefits, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Aurora to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined, future prices of uranium, environmental risks and hazards, increased infrastructure and/or operating costs, labor and employment matters, and government regulation as well as those factors discussed in the section entitled "Risk Factors" in Aurora's most recent Annual Information Form available on SEDAR at www.sedar.com. Although Aurora has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurora disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • Aurora Energy Resources Inc.
    Andrea Marshall
    Manager, Government and Media Relations
    (709) 726-2223
    or
    Aurora Energy Resources Inc.
    Don Falconer
    VP, Corporate Development
    (416) 362-5556
    or
    Aurora Energy Resources Inc.
    Corporate Information
    Website: www.aurora-energy.ca