Aurelian Resources Inc.
TSX VENTURE : ARU

Aurelian Resources Inc.

June 23, 2005 09:34 ET

Aurelian Receives Assays of 11 g/t Gold Over 26 Metres in Bedrock Trench Samples on the Condor Project

TORONTO, ONTARIO--(CCNMatthews - June 23, 2005) - Aurelian Resources Inc. (TSX VENTURE:ARU) is pleased to announce results of recent trenching at the Penas and Penas East zones on their Condor Project.

Mechanized trenching at Penas has exposed a significant number of quartz-rhodochrosite epithermal veins trending east-west across the north-south oriented Bonza-Penas shear structure. Trench CP-TR-05-27 contains numerous 2 to 20 centimetre-wide banded quartz-rhodochrosite veins and pieces of veins within pyritic fault breccia and gouge. The orientation of the veining is east-west, with vein and fault azimuths from 85 degrees to 120 degrees and dips from 44 degrees N to vertical. The trench has an orientation of 335 degrees.

150 metres north of this trench another cross structure containing rhodochrosite-quartz east-west veins has been mapped. These were exploited down to the shallow water table (approximately 15 metres) by local miners, and the workings have since collapsed. Sampling of the rock dump adjacent to the abandoned mill has yielded up to 87 g/t gold from grab samples. Around the historic Penas artisanal minesite diamond drilling to date has targeted the approximately north-south Bonza-Penas shear zone and has been widely spaced in a 90 degrees or 270 degrees east-west azimuth direction. This orientation would tend to miss these high grade veins. It is believed that previous drilling may have passed between veins sets rather than intersecting them. Aurelian is developing a structural reinterpretation of this area to optimally target the high grade vein system, which now appears to lie within an envelope of lower grade gold-bearing sheared rock.



-----------------------------------------------------------------
TRENCH FROM TO LENGTH Au Ag TARGET
(m) (g/t) (g/t)
-----------------------------------------------------------------
CPW-TR-05-
20 49.80 51.80 2 0.72 0.4 Ubewdy
-----------------------------------------------------------------
and 55.80 57.80 2 2.00 1.1 Ubewdy
-----------------------------------------------------------------
and 85.80 87.80 2 1.43 4.5 Ubewdy
-----------------------------------------------------------------
and 165.00 167.00 2 1.51 0.8 Ubewdy
-----------------------------------------------------------------
and 173.00 177.00 4 1.01 1.0 Ubewdy
-----------------------------------------------------------------
and 207.00 219.00 12 1.46 5.9 Ubewdy
-----------------------------------------------------------------
and 227.00 233.00 6 1.30 8.3 Ubewdy
-----------------------------------------------------------------
and 259.00 269.00 10 1.01 0.7 Ubewdy
-----------------------------------------------------------------
and 384.00 386.00 2 0.92 0.1 Ubewdy
-----------------------------------------------------------------
CPW-TR-05-
20A 20.00 22.00 2 1.69 3.2 Ubewdy
-----------------------------------------------------------------
and 134.00 136.0 2 1.27 0.9 Ubewdy
-----------------------------------------------------------------
and 153.50 155.50 2 1.04 2.8 Ubewdy
-----------------------------------------------------------------
and 189.50 191.50 2 0.71 0.5 Ubewdy
-----------------------------------------------------------------
and 340.00 342.00 2 0.71 3.1 Ubewdy
-----------------------------------------------------------------
and 360.00 366.00 6 0.85 0.2 Ubewdy
-----------------------------------------------------------------
CP-TR-05-21 2.00 4.00 2.00 0.67 0.6 Penas East
-----------------------------------------------------------------
CP-TR-05-22 22.00 25.00 3.00 0.81 22.4 Penas East
-----------------------------------------------------------------
CP-TR-05-23 0.00 4.00 4.00 2.80 50.3 Penas East
-----------------------------------------------------------------
and 7.50 9.50 2.00 0.51 7.7 Penas East
-----------------------------------------------------------------
CP-TR-05-24 50.00 58.00 8.00 2.06 3.5 Penas East
-----------------------------------------------------------------
CP-TR-05-25 122.00 124.00 2.00 0.55 1.2 Penas East
-----------------------------------------------------------------
CP-TR-05-26 1.20 8.40 7.20 1.90 7.9 Penas East
-----------------------------------------------------------------
CP-TR-05-27 16.00 42.00 26.00 11.33 41.4 Penas
-----------------------------------------------------------------
including 30.00 32.00 2.00 35.00 28.1 Penas
-----------------------------------------------------------------
including 34.00 36.00 2.00 26.80 79.7 Penas
-----------------------------------------------------------------
and 42.00 48.00 6.00 6.40 48.4 Penas
-----------------------------------------------------------------
and 48.00 50.00 2.00 7.59 34.7 Penas
-----------------------------------------------------------------
and 50.00 54.00 4.00 2.04 8.3 Penas
-----------------------------------------------------------------
and 54.00 60.00 6.00 1.15 8.0 Penas
-----------------------------------------------------------------
CP-TR-05-28 0.00 2.00 2.00 0.70 4.1 Penas
-----------------------------------------------------------------
and 10.00 41.00 31.00 1.09 14.2 Penas
-----------------------------------------------------------------
and 70.30 72.00 1.70 1.19 8.0 Penas
-----------------------------------------------------------------
and 80.00 81.50 1.50 20.60 23.9 Penas
-----------------------------------------------------------------
and 90.00 110.50 20.50 3.03 12.4 Penas
-----------------------------------------------------------------


"These results demonstrate the existence of high grade zones within the Bonza-Las Penas deposit. Further exploration is planned to determine the extent of this higher grade cross structure and locate additional high grade zones" says President Patrick Anderson.

The interval in trench CP-TR-05-27 from 16 to 42 metres (11.33 g/t Au) was re-assayed for gold using metallic screen analysis. The composited results are 8.65 g/t gold indicating that the nugget effect is fairly minimal. Visible gold is rarely seen at Las Penas.

Analysis was performed by ALS Chemex Ltd. of Vancouver, Canada, an ISO 9001 series accredited laboratory facility, by 30 g charge fire assay for gold and atomic absorption for silver. Sample preparation was carried out by Chemex's preparation facility in Quito.

Stephen Leary, AusIMM, 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-V:ARU) junior resource company engaged in the business of exploring for, with the ultimate goal of developing and producing, precious and/or base metals from its properties located in southeastern Ecuador which consists 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.

Contact Information