Aurelian Resources Inc.
TSX VENTURE : ARU

Aurelian Resources Inc.

April 07, 2006 10:15 ET

Aurelian Resources Announces C$10 Million 'Bought Deal' Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - April 7, 2006) -

NOT FOR DISSEMNINATION IN THE U.S. OR THROUGH U.S. NEWS WIRE SERVICES

AURELIAN RESOURCES INC. (TSX VENTURE:ARU) is pleased to announce that it has entered into an agreement with Dundee Securities Corporation and Canaccord Capital Inc. (the "Underwriters") which have agreed to purchase, on a bought deal private placement basis, 3,636,364 common shares (the "Common Shares") at a price of $2.75 per Common Share (the "Financing") for an aggregate purchase price of $10,000,001, provided that the Underwriters shall have the option (the "Option"), exercisable at their sole discretion, to increase the size of the Financing by up to 3,636,364 Common Shares on the same terms and conditions for additional gross proceeds of up to $10,000,001. If the Option is exercised in full, the total gross proceeds will be $20,000,002. Aurelian plans to use the net proceeds of the Financing to fund advancement of its mineral projects and for general corporate purposes.

Aurelian will pay the Underwriters a cash commission of 5.0% of the gross proceeds of the Common Shares sold pursuant to the Financing. The Underwriters will also receive a broker warrant (the "Broker Warrant") entitling them to purchase that number of Common Shares that is equal to 5.0% of the total number of Common Shares sold pursuant to the Financing at a price of $2.75 per Common Share. The Broker Warrant will expire 18 months after the closing of the Transaction.

The Financing is scheduled to close on or about April 27, 2006 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Venture Exchange.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

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 Condor Project properties are located in southeastern Ecuador and consist of 38 mining concessions totaling approximately 95,000 hectares.

Forward-Looking Statements

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