Aurora Platinum Corp.

Aurora Platinum Corp.

July 04, 2005 07:00 ET

FNX Mining Completes Aurora Platinum Acquisition

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 4, 2005) - Aurora Platinum Corp. ("Aurora")(TSX VENTURE:ARP) is pleased to announce that on July 1, 2005 FNX Mining Company Inc. ("FNX") completed the acquisition pursuant to a plan of arrangement of all of the issued and outstanding common shares of Aurora. FNX has issued 4,270,803 common shares which are designated for delivery to the former shareholders of Aurora. Registered Aurora shareholders will soon be sent a letter of transmittal providing instructions on how to receive FNX share certificates to which they are entitled pursuant to the arrangement.

In connection with the acquisition of Aurora, FNX appointed Daniel G. Innes to FNX's Board of Directors. Mr. Innes was the President and Chief Executive Officer and a director of Aurora and served in that capacity since 2000. In addition, Mr. Innes serves as a director of Lake Shore Gold Corp. and as a director and VP Exploration of Southwestern Resources Corp.

FNX also completed the sale of a 50% indirect interest in Aurora to Dynatec Corporation, its partner in the Sudbury Joint Venture. For further information regarding this transaction, please refer to FNX's news release issued today.

Aurora's Board of Directors has been reconstituted by the appointment of A. Terrance MacGibbon, David Constable, John W. Lill and Anthony P. Makuch.

It is expected that Aurora's common shares will be delisted from the TSX Venture Exchange at the opening of business on July 4, 2005.

Forward-looking Statement

This press release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the company's ability to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. In this news release, predictions about Aurora's common shares being delisted from the TSX Venture Exchange are forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • FNX Mining Company Inc.
    David Constable
    Vice President, Investor Relations and Corporate Affairs
    (416) 628-5938
    (416) 360-0550 (FAX)