Aurora Energy Resources Inc.
TSX : AXU

Aurora Energy Resources Inc.

August 16, 2006 09:20 ET

Aurora Intersects 0.25% U3O8 Over 15 Metres at White Bear Lake

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 16, 2006) - Aurora Energy Resources Inc. ("Aurora") (TSX:AXU) announces today that a drill hole testing a zone of outcropping uranium mineralization at White Bear Lake has returned 0.25% U3O8 over 15 metres - starting at surface in drill hole WB-06-01. This hole was then undercut by 50 metres in a subsequent drill hole WB-06-02, which returned 0.16% over 5.0 metres.

"These White Bear Lake results are significant," says Dr. Mark O'Dea, President and CEO of Aurora. "They further demonstrate the widespread distribution of near surface high-grade uranium mineralization in this emerging Canadian district, which clearly has the potential to host multiple deposits."

The White Bear Lake Target is a 3,000 metre long discontinuous radiometric anomaly, characterized by intermittent uranium-bearing outcrops. It is situated approximately 20 kilometers to the east of Michelin and 10 kilometers to the southwest of Jacques Lake. Please use the following links for more information:

For a drill location map of White Bear Lake http://www.aurora-energy.ca/i/misc/AN06-13drillwbear.jpg

For a regional map of the White Bear Lake area http://www.aurora-energy.ca/i/misc/AN06-13wbear.jpg

Aurora's Phase One program on this target consisted of four shallow drill holes in the vicinity of outcropping uranium mineralization and historical drilling. Based on Aurora's encouraging initial results, a more comprehensive follow-up drill program is scheduled for September at White Bear Lake.

Results from Aurora's first four holes drilled at White Bear are as follows:



Hole ID From To %U3O8 Interval
-----------------------------------------------------
WB-06-01 4.3 19.3 0.25 15.0
WB-06-02 54.0 59.0 0.16 5.0
WB-06-03 NSV
WB-06-04 66.0 67.0 0.10 1.0
-----------------------------------------------------


White Bear Lake has been the subject of one historical drilling campaign carried out by Brinex in 1977. Of 17 historical holes completed by Brinex, seven intersected encouraging bedrock uranium mineralization. WB-06-01 was drilled to test historical hole 77-7, which had returned a grade of 0.25% over 14.5 metres, and had never been followed up or undercut. The orientation of mineralized zones at White Bear is interpreted to be sub-vertical and stated widths are approximately 90% of true widths.

ABOUT AURORA

Aurora has 100% ownership in an emerging Canadian Uranium district. The district is underpinned by the Michelin Deposit, one of the largest undeveloped uranium deposits in Canada, and several rapidly growing uranium targets at various stages of exploration.

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 and the potential for further equity dilution 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, economic and political stability in Canada, 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
    or
    Aurora Energy Resources Inc.
    Mr. Robert Simpson
    Manager Corporate Communications
    (604) 632-4677 or Toll Free: 1-877-632-4677
    www.aurora-energy.ca