Aurelian Resources Inc.
TSX VENTURE : ARU

Aurelian Resources Inc.

November 01, 2006 10:06 ET

Aurelian Intersects 135 Metres Grading 9.78 g/t and 171 Metres Grading 3.84 g/t of Gold in Drilling at FDN

TORONTO, ONTARIO--(CCNMatthews - Nov. 1, 2006) - Aurelian Resources Inc. (TSX VENTURE:ARU) today announced assay results from five 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 135 metre interval grading 9.78 g/t gold (Au) and 22.8 g/t silver (Ag) in drill hole CP-06-72, and a 171 metre interval grading 3.84 g/t Au and 4.7 g/t Ag in drill hole CP-06-74. The intercept in CP-06-74 includes a higher grade zone of 88.38 metres grading 6.23 g/t Au and 3.2 g/t Ag.

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 intersection of strong mineralization on section 9583100N, and visible gold on section 9582900N, supports our model for the continuation of the system underneath the sandstone cover to the south." says Aurelian President & CEO Patrick F. N. Anderson, "The intercept on line 9583500N gives us further insight to the geometry of the higher grade part of the system which we interpret to plunge to the north. We are planning further deep drilling to delineate the higher grade trend on this section and on 9583600N."



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Uncut data
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Cross From To Interval
section Drill hole (metres) (metres) (metres) Au g/t Ag g/t
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CP-06-74 313.20 485.00 171.80 3.84 4.7
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9583100N including 340.28 428.66 88.38 6.23 3.2
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CP-06-74 503.58 526.85 23.27 1.84 7.7
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CP-06-74 559.50 560.50 1.00 16.85 14.1
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CP-06-72 281.00 295.80 14.80 0.73 2.2
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CP-06-72 302.66 438.00 135.34 9.78 22.8
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Including 329.00 432.70 103.70 12.27 28.1
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9583500N or 378.00 420.60 42.60 19.74 43.7
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or 416.15 419.60 3.45 100.48 99.3
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CP-06-72 446.60 451.70 5.10 0.56 16.7
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CP-06-72 487.60 504.00 16.40 0.79 28.5
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CP-06-71 394.00 404.00 10.00 2.71 7.1
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9583800N CP-06-71 416.00 435.00 19.00 2.06 4.0
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CP-06-71 441.00 477.05 36.05 3.65 4.9
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CP-06-73 not sampled
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9583900N CP-06-70 266.90 275.00 8.10 1.69 4.4
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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.
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CP-06-70 is the most northerly hole drilled at FDN to date and is located on line 9583900N. The hole was drilled eastward at azimuth 091 degrees and a dip of -61 degrees at the collar. After traversing 205m of basin fill conglomerate (Suarez Formation) the hole intersected a fault and then propylitic andesite before passing through a second fault at 265m and into a narrow zone of brecciated epithermal vein material that assayed 8.10 metres grading 1.69 g/t Au and 4.4 g/t Ag.

CP-06-71 was drilled on section 9583800N to the west of hole CP-06-69, with an azimuth of 090 degrees and a dip of -62 degrees at the collar. The hole intersected 242 metres of basin fill conglomerate (Suarez Formation) and a broad zone of propyliticaly altered andesite before drilling through a partially mineralized fault zone (10.m @ 2.71g/t Au and 7.1 g/t Ag) and into epithermal veining at a depth of 416 m, the mineralized intervals from this zone include 36.05 metres grading 3.65 g/t Au and 4.9 g/t Ag and 19.0 metres grading 2.06 g/t Au and 4.0 g/t Ag.

CP-06-73 (azimuth 092 degrees/dip -73 degrees) was also located on section 9583800N, approximately 70 metres west of CP-06-71. The hole was designed to test the block west of the west fault for offset mineralization. The hole traversed 372 m of Suarez Formation, with both conglomerate and a significant interval of fine sandstone and siltstone, before entering intensely propyliticaly altered andesite to the end of hole (603.35m). No significant veining or mineralization was encountered and the hole was not sampled.

CP-06-72 was drilled on line 9583500N to the west of drill hole CP-06-62 with an azimuth of 089 degrees and a dip of -70 degrees at the collar. The hole intersected 245 metres of Suarez Formation conglomerate before crossing a fault and entering intense epithermal stockwork veining and brecciation with visible gold. The main interval returned assays of 135.0 metres @ 9.78 g/t Au.

Drill hole CP-06-74 was drilled on section 9583100N, between holes CP-06-53 and CP-06-54, with an azimuth of 91 degrees and a dip of -59 degrees at the collar. The hole was designed to test the intensity of mineralization between the two previous intercepts on this line. The hole passed through 300 metres of Suarez Formation, and entered a broad zone of silicification, epithermal quartz-carbonate plus or minus sulphide stockwork veining and brecciation in andesites. The longest interval of mineralization (171.80 metres @ 3.84 g/t Au and 4.7 g/t Ag) from 313.2 to 485.0 m shows the system is more strongly mineralized than was apparent from previous drill holes.

At the southern end of the FDN deposit on section 9582900N (Azimuth 90, dip 60 at the collar), drill hole CP-06-83 has intercepted epithermal mineralization. The mineralization occurs as a zone of epithermal stockwork and brecciation (approximately 50 metres down hole length). At depth, a number of widely spaced, narrow (up to 1 metre down hole length) quartz-carbonate epithermal veins with significant visible gold were intercepted. The veins are surrounded by narrow zones of stockwork veining and brecciation.

Thirty-two diamond drill holes have been completed at the FDN prospect to date, including new holes to the south on lines 9583000N and 9582900N. The present and previous press releases describe the results from twenty-six of these holes. A further four holes have been completed at Las Arenas, and drill results for both FDN and Las Arenas 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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