Aurora Energy Resources Inc.
TSX : AXU

Aurora Energy Resources Inc.

November 02, 2006 10:46 ET

Aurora Continues to Expand the Jacques Lake Uranium Deposit, Central Labrador

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2006) - Aurora Energy Resources Inc. ("Aurora") (TSX:AXU) announces that wide intervals of near-surface uranium mineralization have been intersected in five new drill holes at its Jacques Lake uranium deposit in coastal Labrador.

These drill holes confirm that Jacques Lake is emerging as a significant uranium deposit in its own right that will have a positive impact on Aurora's total uranium resource base. They also demonstrate the widespread distribution of uranium in this emerging Canadian district, which has the potential to host multiple large deposits.

"Over the past twelve months, Jacques Lake has gone from an encouraging discovery to a developing resource with size potential similar to that of Michelin, located only 25 kilometres away," says Dr. Rick Valenta, Aurora's Chief Geoscientist. "In addition, we now know that the rocks that host the Jacques Lake deposit extend for over twenty kilometres to the west, with at least five additional drill ready targets."

New drill result highlights from Jacques Lake are as follows:

- JL-06-28 intersected 0.12% U3O8 over 37.0 metres.

- JL-06-30 intersected three parallel zones of closely spaced mineralization as follows:

- 0.09% U3O8 over 9.0 metres; and

- 0.13% U3O8 over 5.0 metres; and

- 0.11% U3O8 over 10.0 metres.

- JL-06-32 intersected 0.30% U3O8 over 11 metres along with two additional intervals that returned:

- 0.18% U3O8 over 1.0 metre; and

- 0.14% U3O8 over 1.8 metres. JL-06-34 intersected 0.19% U3O8 over 14.0 metres. JL-06-35 intersected 0.10% U3O8 over 25.5 metres and a separate zone of 0.13% U3O8 over 1.0 metre.

Results from sixteen additional drill holes at Jacques Lake are pending. For an updated long section of drilling at Jacques Lake please use the following link:

http://www.aurora-energy.ca/files/AN06-21JLlongsection_web.jpg

Building on the success of this year's program, a 20,000 metre drill campaign at Jacques Lake is planned for 2007 as part of a much larger regional drilling program. The aim of the 2007 program will be to continue expanding the resource along strike and at depth, and to drill infill holes in areas where mineralization has already been identified. Environmental baseline studies at Jacques Lake will also continue through 2007.

Uranium mineralization at Jacques Lake has not been tested below 200 vertical metres and remains open for expansion at depth and to the southwest. The orientation of mineralized zones is steeply south dipping and stated widths are between 70% and 90% of true widths.



JACQUES LAKE DRILL RESULTS

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Hole ID From (m) To (m) Interval (m) %U3O8 Depth from Surface
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JL-06-28 90.00 127.00 37.0 0.12 Starting at 52 m

JL-06-29 NSV(i)

JL-06-30 113.50 170.00 51.0 0.06 Starting at 98 m
Inc 113.50 122.50 9.00 0.09
Inc 134.00 139.00 5.00 0.13
Inc 151.00 161.00 10.0 0.11

JL-06-31 NSV

JL-06-32 37.00 48.00 11.0 0.30 Starting at 24 m
And 61.50 62.50 1.00 0.18
And 117.00 118.81 1.81 0.14

JL-06-33 NSV

JL-06-34 39.50 53.50 14.00 0.19 Starting at 35 m
And 175.74 183.50 7.8 0.06

JL-06-35 45.00 70.50 25.5 0.10 Starting at 42 m
And 272.00 273.00 1.0 0.13
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ABOUT AURORA

Aurora has 100% ownership in one of Canada's most exciting emerging uranium districts in central Labrador. Aurora's resource base is underpinned by the Michelin deposit, one of the largest undeveloped deposits in Canada, along with several newly discovered uranium deposits and targets.

Ian Cunningham-Dunlop, P.Eng, Vice President, Exploration for Aurora, is the designated Qualified Person for Aurora on the Central Labrador Uranium Project.

Drill core was prepared and analyzed in accordance with industry standards by Activation Laboratories Ltd., Ancaster, Ontario. Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking statements". Such forward-looking statements, including but not limited to, those with respect to the timing and amount of estimated future resources and resource conversion rates potential for expansion and potential size of future exploration programs involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Aurora to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined, future prices of uranium, environmental risks and hazards, increased infrastructure and/or operating costs, labor and employment matters, and government regulation as well as those factors discussed in the section entitled "Risk Factors" in Aurora's Prospectus dated March 8, 2006 available on SEDAR at www.sedar.com. Although Aurora has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurora disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • Aurora Energy Resources Inc.
    Dr Mark O'Dea
    President & CEO
    (604) 632-4677 or Toll Free: 1-877-632-4677
    or
    Aurora Energy Resources Inc.
    Dr Rick Valenta
    Chief Geoscientist
    (604) 632-4677 or Toll Free: 1-877-632-4677
    Website: www.aurora-energy.ca