AUR RESOURCES INC.
TSX : AUR

AUR RESOURCES INC.

July 13, 2007 08:46 ET

AUR RESOURCES INC. ANNOUNCES RESTATEMENT OF OTHER COMPREHENSIVE INCOME (No impact on reported earnings, cash flow or balance sheets) AND TECK COMINCO DUE DILIGENCE COMPLETE

TORONTO, ONTARIO--(Marketwire - July 13, 2007) - Aur Resources Inc. (TSX:AUR)(SSE:AUR) announced today that it will refile its interim consolidated financial statements for the period ended March 31, 2007 in order to restate the consolidated statement of comprehensive income. The mark to market adjustment relating to zinc forward sales agreements had, for such period, been recorded as a comprehensive loss as at March 31, 2007 rather than as an opening adjustment to accumulated other comprehensive income as at January 1, 2007 in accordance with new accounting standards adopted on January 1, 2007. The restatement changes the previously reported comprehensive loss of US$127.1 million on the zinc forward sales agreements in the statement of comprehensive income to a comprehensive gain of US$52.8 million. The restatement has no impact on Aur's consolidated balance sheets as at March 31, 2007 and December 31, 2006 or on Aur's consolidated statements of operations, retained earnings and cash flow for the three month periods ended March 31, 2007 and 2006.

Aur also announced today that Teck Cominco Limited has confirmed that its confirmatory due diligence in connection with its $41.00 per share cash and share offer to acquire all outstanding common shares of Aur has been satisfactorily completed.

Contact Information

  • Aur Resources Inc.
    Mr. Ed Guimaraes, Executive Vice-President,
    Finance and Chief Financial Officer
    (416) 362-2614
    (416) 367-0427 (FAX)
    or
    Aur Resources Inc.
    Mr. Peter McCarter, Executive Vice-President,
    Corporate Affairs and Secretary
    (416) 362-2614
    (416) 367-0427 (FAX)
    Website: www.aurresources.com