Aurora Energy Resources Inc.

Aurora Energy Resources Inc.

August 05, 2008 09:28 ET

Aurora's Michelin Infill Drilling Program Progresses Resource Conversion

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2008) - Aurora Energy Resources Inc. ("the Company" or "Aurora") (TSX:AXU) is pleased to announce that it has received the final results from the three remaining drill holes from the 2008 winter drill program and initial results from the summer drill program at the Company's Michelin deposit ("Michelin") in coastal Labrador.

"The results continue to reinforce the grade and widths of mineralization intersected in both the recent and historic drilling at Michelin, enhancing the resource value of the Michelin Project," said Dr. Mark O'Dea, President and CEO of Aurora. "These results will assist Aurora in the conversion of inferred to indicated NI 43-101 resource categories for pre-feasibility work."

The 2008 drill program focused on both infilling the deeper portion of the main deposit and further confirmation drilling the shallow "open-pitable" part of the deposit above 200 metres depth.

New highlights from both programs are as follows:

- 0.10% U3O8 over 33.91 metres (from 21.6 to 55.5 metres) including 0.25% U3O8 over 7.00 metres (from 21.6 to 28.6 metres) in M08-105

- 0.12% U3O8 over 13.21 metres (from 107.9 to 121.1 metres) and 0.10% U3O8 over 7.37 metres (from 126.3 to 132.6 metres) in M08-093

- 0.14% U3O8 over 12.47 metres and 0.08% U3O8 over 20.10 metres in M08-111

- 0.13% U3O8 over 12.50 metres in M08-110

- 0.27% U3O8 over 7.96 metres in M08-103

Detailed results can be found in the table below.

Hole ID From (m) To (m) Length(i)(m) % U3O8
M08-093 107.89 121.10 13.21 0.12
incl 107.89 110.89 3.00 0.21
and 125.25 132.62 7.37 0.10
incl 128.5 129.5 1.00 0.27
M08-103 539.55 547.51 7.96 0.27
M08-105 21.57 55.48 33.91 0.10
incl 21.57 28.57 7.00 0.25
and 52.57 55.48 3.21 0.19
M08-109 491.77 503.04 11.27 0.11
incl 493.00 496.00 3.00 0.30
M08-110 565.5 578.00 12.50 0.13
incl 566.5 577.00 10.50 0.15
M08-111 553.11 565.58 12.47 0.14
and 571.60 591.70 20.10 0.08
incl 571.60 576.48 4.88 0.21
M08-115 545.42 547.42 2.00 0.15

(i) The orientation of the mineralized zones is interpreted to be
moderately to steeply southeast dipping and true widths are
approximately 80% of stated widths

(ii) Holes M08-107, M08-108, M08-112, M08-113, M08-114 were lost,
abandoned, or incomplete

For a view of the updated long section of the Michelin deposit, please use the following link:


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 Steve Barrett, P.Geo., Exploration Manager 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, include but are not limited to, those with respect to the timing and amount of estimated future resources and resource conversion rates, potential for expansion of resources, estimates of potential mineralization 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, and estimates of mineralization, uncertainty in the estimation of mineral resources, changes in project parametres 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 Annual Information Form available on SEDAR at . 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 Relations and Public Affairs
    (709) 726-2223
    Aurora Energy Resources Inc.
    Don Falconer
    VP, Corporate Development
    (416) 362-5556