Aurora Energy Resources Inc.
TSX : AXU

Aurora Energy Resources Inc.

September 11, 2007 09:43 ET

Aurora Makes New Uranium Discovery West of Jacques Lake Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2007) - Aurora Energy Resources Inc. ("Aurora" or "the Company") (TSX:AXU) is pleased to announce that five new zones of surface exposed mineralization have been tested for the first time with 11 shallow drill holes. Located 15 kilometres west of the Jacques Lake deposit ("Jacques Lake"), eight of these new drill holes have intersected uranium mineralization within 50 metres of surface with grades as high as 0.48% U3O8 (10.6 pounds U3O8 per tonne).

These new zones of bedrock mineralization, collectively referred to as "Aurora West", are exposed intermittently over a strike length of 1.5 kilometres, and are thought to be part of the same overall mineralized structure, herein referred to as the Aurora Corridor. This is the same structure which hosts the Jacques Lake deposit and other promising drill-ready targets, such as Gayle, Kathi and Burnt Brook.

Highlights from drilling along Aurora West include:

- 0.48% U3O8 over 0.5 metres and 0.11% U3O8 over 2.0 metres in AR07-002

- 0.07% U3O8 over 7.0 metres including 0.14% U3O8 over 2.0 metres in AR07-011

- 0.08% U3O8 over 4.9 metres including 0.15% U3O8 over 0.87 metres in AR07-008

"These are the first holes ever drilled along the Aurora Corridor, and initial drill results are comparable in width and grade to the first holes drilled at Jacques Lake in 2005," said Mark O'Dea, President and CEO of Aurora. "These exciting results demonstrate that this regional structure is prospective for over 15 kilometres, with mineralization that extends from surface to depths of at least 50 metres."

Exploration along the Aurora Corridor will continue moving east, testing previously undrilled zones of surface mineralization including the Burnt Brook, Gayle, and Kathi uranium occurrences. These new zones are located within seven kilometres of Jacques Lake and have returned surface grades as high as 1.51% U3O8.

The most promising zones of drill-indicated mineralization along the Aurora Corridor will be followed up with a Phase II drill program.

Initial drilling results from Aurora West are as follows:



----------------------------------------------------
Hole ID From (m) To (m) Interval (m) %U3O8
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AR07-001 30.07 30.82 0.75 0.08
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AR07-002 37.00 39.00 2.00 0.11
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incl. 37.00 38.00 1.00 0.15
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and 49.00 50.50 1.50 0.19
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incl. 50.00 50.50 0.50 0.48
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AR07-003 34.80 35.30 0.50 0.03
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AR07-004 nsv
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AR07-005 44.80 45.15 0.35 0.1
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AR07-006 nsv
----------------------------------------------------
AR07-007 nsv
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AR07-008 35.66 40.53 4.87 0.08
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incl. 39.66 40.53 0.87 0.15
----------------------------------------------------
AR07-009 49.95 52.45 2.50 0.1
----------------------------------------------------
AR07-010 17.05 21.55 4.50 0.06
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incl. 20.05 21.55 1.50 0.11
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AR07-011 23.05 30.05 7.00 0.07
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incl. 23.05 24.55 1.50 0.16
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incl. 28.05 30.05 2.00 0.14
----------------------------------------------------


Due to the early nature of the drilling true widths are unknown at this time.

For a view of the Aurora Corridor please use the following link:

http://www.aurora-energy.ca/files/AuroraCorridor07-17.jpg

Drilling along the Aurora Corridor is part of a much larger regional drill program in the Central Mineral Belt. Aurora is planning to explore year-round, with two fully winterized camps, at least five drill rigs and a staff of 40. The current exploration program will continue until the end of the year, which will then be followed by a winter campaign of extensive in-fill and delineation drilling. The current drill program has a target of 75,000 metres and a budget of C$21 million.

LIQUIDITY

Aurora is not invested in any short-term commercial paper or asset-backed securities. The company has approximately $38 million in cash that is fully liquid and held with a large commercial bank.

ABOUT AURORA

Aurora (TSX:AXU) is a uranium exploration and development company focused on the Central Mineral Belt in coastal Labrador - one of the world's most promising uranium districts. Aurora's uranium district has a defined resource of 58 million pounds of uranium (5 million measured and 53 million indicated) and 38 million pounds (inferred) and is undertaking pre-feasibility studies to move the project towards development. Aurora is committed to responsible development with lasting local benefits. Uranium provides clean, safe and reliable energy. The energy to change the world.

Assay results have been prepared under the guidance of Mr. Ian Cunningham-Dunlop P. Eng, Exploration Vice-President for Aurora Energy Resources Inc., who is designated as a Qualified Person with the ability and authority to verify the authenticity of and validity of this data. Drill core was prepared and analyzed in accordance with industry standards by Activation Laboratories Ltd., Ancaster, Ontario. The Independent Qualified Person responsible for the current resource estimates for the Michelin and Jacques Lake Uranium Deposits is Gary Giroux, P. Eng. Of Giroux Consultants Ltd. and a Technical Report prepared to NI43-101 requirements is available for viewing on SEDAR at www.sedar.com.

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 of resources and potential size of future exploration programs, potential significance of newly discovered mineralization, and potential timing of receipt of permits and classification of future mineral resources, 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 Annual Information Form 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.
    Andrea Marshall
    Media Relations
    (709) 726-2223
    or
    Aurora Energy Resources Inc.
    Don Falconer
    VP, Corporate Development
    (416) 362-5556
    or
    Aurora Energy Resources Inc.
    Corporate Contact Information
    (604) 632-0110 or Toll Free: 1-877-632-4677
    Website: www.aurora-energy.ca