Aurelian Resources Inc.
TSX : ARU

Aurelian Resources Inc.

March 12, 2008 09:06 ET

Aurelian Intersects 168.93 Metres Grading 13.16 g/t of Gold and 144.05 Metres Grading 7.41 g/t Gold at FDN With Infill Drilling

TORONTO, ONTARIO--(Marketwire - March 12, 2008) - Aurelian Resources Inc. (TSX:ARU) today announced additional drill results from the Fruta Del Norte ("FDN") gold-silver deposit discovered in its Condor Project in southeastern Ecuador. The results are from infill holes in the central high grade part of the system on 50 m spaced sections.

"We continue to drill aggressively, with three rigs now pursuing the blue sky potential of the Condor project," says Patrick F.N. Anderson, President and CEO. "A powerful rig is drilling a deep hole just west of the west fault, testing for the faulted extension of the FDN deposit at depth. Two other rigs are drilling fences of holes south of FDN across the Suarez pull-apart basin to test if additional buried epithermal systems exist. Four additional diamond rigs are drilling a combination of infill holes for an updated resource later this summer and metallurgical holes and geotechnical holes are planned to begin on proposed infrastructure locations in the next few weeks."

The results from the infill holes include 144.05 metres grading 7.41 g/t of gold ("Au") and 12.4 g/t of silver ("Ag") in CP-07-185 on section 9583350N, and 168.93 metres grading 13.16 g/t of Au and 13.0 g/t of Ag in CP-07-176, which traverses between section 9583350N and 9583400N. On section 9583550N, drill hole CP-07-188 returned a best intercept of 76.00 metres grading 7.28 g/t Au and 7.7 g/t Ag and CP-07-189 returned 53.30 metres grading 7.36 g/t Au and 9.9 g/t Ag.

As of October 2007, calculations at the FDN deposit returned an initial inferred mineral resource of 58.9 million tonnes grading 7.23 g/t of gold and 11.8 g/t of silver for 13.7 million ounces of contained gold and 22.4 million ounces of contained silver, determined at a cut off grade of 2.3 g/t gold-equivalent (ARU PR 4/10/2007). The results reported in this release were not included in that calculation.

FDN Results

Mineralized intercepts (uncut and cut) from six recent FDN drill holes are tabulated below followed by brief descriptions of each hole. The intercepts are calculated with the 2.3 g/t Au Eq lower cut, the same used in the inferred resource estimate; this cut off is used in the description of results in the following text (unless otherwise stated).

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



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Uncut data, 2.3 g/t Au Eq(i) lower cut
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Cross Drill hole From To Interval Au Ag Au
section (metres) (metres) (metres) g/t g/t Eq(i)
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CP-07-185 275.70 419.75 144.05 7.41 12.4 7.61
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9583350N including 281.10 295.20 14.10 20.52 16.1 20.78
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and 384.45 391.45 7.00 34.89 52.9 35.74
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CP-07-185 485.32 497.32 12.00 4.77 29.5 5.25
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CP-07-176 253.07 422.00 168.93 13.16 13.0 13.37
9583350N/ -----------------------------------------------------------------
9583400N including 368.50 422.00 53.50 22.69 23.8 23.07
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CP-07-176 462.00 463.00 1.00 58.60 85.7 59.98
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CP-07-181A 372.11 455.71 83.60 5.92 14.1 6.15

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including 406.72 424.72 18.00 15.20 16.6 15.46
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CP-07-182 225.70 256.80 31.10 7.70 9.3 7.85
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9583550N including 242.10 255.80 13.70 12.56 12.2 12.76
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CP-07-188 108.50 131.30 22.80 8.60 11.2 8.78
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CP-07-188 141.00 217.00 76.00 7.28 7.7 7.40
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including 162.00 197.00 35.00 12.60 11.7 12.79
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CP-07-189 113.00 166.30 53.30 7.36 9.9 7.52
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CP-07-189 245.79 250.41 4.62 3.78 4.6 3.85
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Note: intervals are calculated using a lower cut of 2.3 g/t Au Eq and no
top cut, they include up to 6m of internal waste.
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Intervals with a 2.3 g/t Au Eq(i) lower cut and a top cut
of 105g/t Au and 97 g/t Ag
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Cross Drill hole From To Interval Au Ag Au
section (metres) (metres) (metres) g/t g/t Eq(i)
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9583350N CP-07-185 485.32 497.32 12.00 4.77 26.4 5.20
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9583350N/
9583400N CP-07-176 253.07 422.00 168.93 12.47 12.6 12.67
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9583550N CP-07-188 108.50 131.30 22.80 8.10 11.2 8.28
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Note: intervals are calculated using a lower cut of 2.3 g/t Au Eq and a
105 g/t Au and 97 g/t Ag top cut, they include up to 6m of internal waste.
---------------------------------------------------------------------------


(i) Au equivalent grade ("Au Eq") was calculated on the basis of US$550/oz Au, US$10/oz Ag, 90% Au recovery, 80% Ag recovery which combine for an Au Eq ratio of 61.9 grams Ag equals 1 gram Au.

On infill section 9583350 drill hole CP-07-185 was drilled as an east to west scissor hole (azimuth 265/dip -66) and intersected buried quartz sinter from 167m to 189m before intersecting intense epithermal mineralisation assaying 144.05 m @ 7.41 g/t Au and 12.4 g/t Ag which includes 14.10 m @ 20.52 g/t Au and 16.1 g/t Ag and a second interval assaying 12.00m @ 4.77 g/t Au and 29.5 g/t Ag. The hole exited the orebody when it passed through the west fault at 557m.

Drill hole CP-07-176 was designed to be an infill hole on 9583350N, but after being collared (azimuth 90/dip -49) the hole kicked north, ending closer to 9583400N than 9583350N. The hole passed through the top of the orebody, assaying 168.93 m @ 13.16 g/t Au and 13.0 g/t Ag including 53.50 m @ 22.69 g/t Au and 23.8 g/t Ag. A large vein to the east of the main orebody assayed 1m @ 58.60 g/t Au and 85.7 g/t Ag.

Four holes have been completed on section 9583550N, all of which successfully intersected mineralisation. At depth drill hole CP-07-181A (azimuth 81/dip -63) returned a best intercept of 83.60 m @ 5.92 g/t Au and 14.1 g/t Ag, which includes 18.00 m @ 15.20 g/t Au and 16.6 g/t Ag. In the upper part of the orebody holes CP-07-182 (azimuth 91/dip -56) assayed 31.10 m @ 7.70 g/t Au and 9.3 g/t Ag, which includes 13.70 m @ 12.56 g/t Au and 12.2 g/t Ag, CP-07-188 (azimuth 87/dip -66) assayed 22.80 m @ 8.60 g/t Au and 11.2 g/t Ag followed by a second interval of 76.00 m @ 7.28 g/t Au and 7.7 g/t Ag and CP-07-189 (azimuth 90/dip -55) assayed 53.30 m @ 7.36 g/t Au and 9.9 g/t Ag.

With the results reported here, data for 110 diamond drill holes at FDN have been released, only 85 of which were complete and included in the initial inferred resource released in October 2007. Infill drilling at FDN and exploration drilling on additional targets is ongoing with seven drills currently operating on the property. Results for current and future drill holes will be released as analytical data are received, validated and compiled.

The FDN deposit is hosted by intensely silicified andesitic volcanic and intrusive rocks that are buried by clastic sedimentary rocks of the Suarez Formation of Jurassic age within a pull-apart basin. The hydrothermal system is characterized by multiphase quartz-carbonate-sulphide stock work veining and hydrothermal brecciation. FDN is interpreted to be an intermediate sulphidation epithermal gold-silver system that predates but is in part contemporaneous with infilling of the basin.

Drilling has outlined a mineralised envelope at FDN that is traceable continuously for over 1400 metres along strike, exceeds 100 metres in width through the central and southern portions, has a vertical extent of over 350m and dips moderately westward through to vertical with an eastern contact that dips steeply to the east south of 9583500N. Drill holes intersect this envelope at various angles and therefore drill hole intercept lengths reported in this and earlier press releases are not true widths. Inspection of drill cross sections allow the width of the mineralised envelope to be estimated visually.

Technical Information

Samples consist of half HQ, 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 AAS or gravimetric finish at the ALS Chemex Lima 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 independent laboratories to verify gold and silver analyses. Metallic screen fire analyses for gold are also run regularly as an additional QA-QC check. The half core remaining after sampling is retained on site for verification and reference purposes.

Stephen Leary (MAusIMM), Aurelian's Exploration Manager, is the 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:ARU) resource company engaged in exploring, discovering and developing mineral wealth in Ecuador. The Fruta del Norte (FDN) discovery lies at the heart of the Condor Project properties, located in southeastern Ecuador and consisting of 38 mining concessions totalling approximately 95,000 hectares. The initial inferred resource for FDN was released in October 2007 and included 58.9 million tonnes grading 7.23 g/t gold and 11.8 g/t silver for 13.7 million ounces of contained gold and 22.4 million ounces of contained silver. Aurelian is committed to working with the government and people of Ecuador to achieve a modern, sustainable mining industry, which will play an important role in the future growth of the country. Visit www.aurelian.ca for more information.

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 mineralisation 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.

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