Aurora Energy Resources Inc.
TSX : AXU

Aurora Energy Resources Inc.

December 07, 2006 10:33 ET

Aurora Continues to Expand the Michelin Uranium Deposit in Labrador

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 7, 2006) - Aurora Energy Resources Inc. ("Aurora") (TSX:AXU) is pleased to announce that ten new drill holes have further expanded the thick, high grade centre of the Michelin uranium deposit ("Michelin"). Drill hole M-06-39, which intersected Michelin at 750 metres depth, indicates that significant grade and thickness continue to characterize the deepest known parts of this deposit. Mineralization remains open in all directions. Hole M-06-39 intersected:

- 0.15% U3O8 over 35.16 metres (3.3 pounds of U3O8 per tonne over 115.35 feet) including

- 0.24% U3O8 over 15.79 metres (5.3 pounds of U3O8 per tonne over 51.80 feet).

"In 2006, we drilled 37 holes at Michelin, totaling 25,000 metres," says, Dr. Mark O'Dea, President and CEO of Aurora. "100% of the holes drilled at Michelin this year have intersected uranium mineralization, which has had a profound impact on the size of this growing deposit. Mineralization still remains open for expansion."

Highlights from five other new drill holes include the following intervals:

- 0.12% U3O8 over 37.49 metres in M-06-30A

- 0.26% U3O8 over 17.27 metres in M-06-32

- 0.16% U3O8 over 10.50 metres in M-06-35

- 0.19% U3O8 over 10.85 metres in M-06-37

- 0.17% U3O8 over 9.20 metres n M-06-40

Also of significance, drill hole M-06-33, located 200 metres east of Michelin's main zone, intersected 0.11% U3O8 over 4.00 metres and 0.10% U3O8 over 1.86 metres. This drill hole highlights the potential for a significant expansion of Michelin along strike.

For a current long section of Michelin please visit http://www.aurora-energy.ca/files/Mich_LS_20061201.jpg



DRILL HOLE RESULTS

-----------------------------------------------------------
Hole ID From (m) To (m) Interval (m) %U3O8
-----------------------------------------------------------
M-06-29 888.43 889.43 1.00 0.10
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M-06-30A 597.89 633.87 37.49 0.12
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incl 597.89 602.84 4.95 0.13
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and incl 613.95 620.92 6.97 0.34
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and incl 629.87 633.87 4.00 0.22
-----------------------------------------------------------
M-06-31 991.00 992.50 1.95 0.07
-----------------------------------------------------------
M-06-32 703.02 720.29 17.27 0.26
-----------------------------------------------------------
M-06-33 667.17 671.17 4.00 0.11
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and 674.96 676.82 1.86 0.10
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M-06-35 658.30 668.80 10.50 0.16
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incl 658.30 663.30 5.00 0.22
-----------------------------------------------------------
M-06-36A 726.94 733.97 7.03 0.11
-----------------------------------------------------------
M-06-37 581.00 591.85 10.85 0.19
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M-06-39 622.18 657.34 35.16 0.15
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incl 622.18 637.97 15.79 0.24
-----------------------------------------------------------
M-06-40 617.51 626.71 9.20 0.17
-----------------------------------------------------------


Reported widths are approximately 85 to 90% of true widths.

Subject to the receipt of four final drill holes, the company will be updating its 43-101 compliant resource for the Michelin and Jacques Lake deposits in early 2007.

About Aurora

Aurora stands out amongst the world's uranium exploration and development companies as having one of the best combinations of resource size, extractability, exploration potential, management skills, as well as low technical, environmental and country risk. Aurora continues to explore, discover and define Labrador's Central Mineral Belt as Canada's next long term uranium district.

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, technical and environmental complexities 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, future technical and country risks and mineability and extractability of the deposits, 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