AXU Alexco Resource Corp

Aurora Energy Resources Inc. ("Aurora" or "the Company") (TSX:AXU) is pleased to
announce the final results from its 2007 drill program at Jacques Lake. The
results firmly establish this new uranium deposit as an important part of the
Company's pipeline of development projects in coastal Labrador.


The growing Jacques Lake deposit augments Aurora's portfolio of quality assets
in a safe and mining-friendly country - one that supplies 28% of the world's
uranium. A revised resource estimate for Jacques Lake is expected from the
Company in the very near-term.


"Jacques Lake has evolved into a significant development project in only three
years," said Dr. Mark O'Dea, Aurora's President and CEO. "With a comprehensive
infill drill program underway, along with ongoing mining, metallurgical and
environmental engineering studies, Jacques Lake is on a development track as
either a stand alone operation or one that can be developed concurrently with
the nearby Michelin deposit."


Mineralization at Jacques Lake, which starts at surface, has been intersected
over a strike length of over 750 metres, extended to a depth of up to 425
metres, and still remains open for expansion along strike and at depth. Jacques
Lake is now approximately three quarters the strike length and about half the
depth of Michelin - and has similar structural characteristics and potential to
develop significantly in size.


Significant new drill results from 2007 include:

- Drill hole JL07-076, which intersected 0.11% U3O8 over 10.00 metres, including
0.23% U3O8 over 3.00 metres. This hole is the most significant new result from
Jacques Lake because it extends the deposit an additional 200 metres along
strike to the southwest at a depth of approximately 350 metres.


- Drill hole JL07-068, which intersected 0.08% U3O8 over 20.00 metres, including
0.13% U3O8 over 5.00 metres.


- Drill hole JL07-073, which intersected 0.05% U3O8 over 37.09 metres.

- Drill hole JL07-078, which intersected 0.11% U3O8 over 7.00 metres, including
0.21% U3O8 over 2.00 metres and 0.08% U3O8 over 9.20 metres.


A detailed table of results can be viewed by clicking here
http://www.aurora-energy.ca/files/JLdrillresults2007.JPG.


A view of the Jacques Lake long section can be viewed by clicking here,
http://www.aurora-energy.ca/files/JL_LS_23Jan08.jpg.


BASELINE ENVIRONMENTAL AND SOCIAL STUDIES

Baseline environmental studies, initiated by Aurora in 2005, continued in the
Jacques Lake area during 2007. These studies focused on collecting information
regarding natural systems, air quality, and local history; on reviewing archival
data and meteorological conditions; and on assessing components of the existing
ecosystem.


Detailed baseline work is proceeding in 2008 to expand this work. In addition,
Aurora is engaged in dialogue with communities in preparation for undertaking
Traditional Knowledge programs in 2008. The study results will be used in the
regulatory approval process.


ENVIRONMENTAL ASSESSMENTS

The Company plans to submit its Project Description to federal and provincial
authorities in the second quarter of 2008 to initiate the Environmental
Assessment (EA) process for the Michelin Project (which includes the Michelin
and Jacques Lake deposits). Meetings and presentations to local communities and
their representatives were undertaken in 2007 to seek involvement and input.
Similar consultations will continue throughout 2008.


Aurora has initiated discussions with the appropriate governments and regulators
including the Province of Newfoundland and Labrador, Nunatsiavut Government,
Canadian Nuclear Safety Commission, and the Canadian Environmental Assessment
Agency. This will help ensure timely compliance with the EA requirements.


MINE DEVELOPMENT

Development planning for an open pit and underground mine at Jacques Lake
deposit continues. In 2008, Aurora and its engineering contractors will begin
initial open pit mine design and scheduling. In addition, the underground mining
and access methods will be reviewed and updated. Following that, underground
stope layout and mine scheduling will be initiated.


Aurora and its engineering contractors (Micon and SNC-Lavalin) will begin
planning the mine infrastructure at the Jacques Lake site late in Q2 of 2008
once a mining method and initial schedule are determined. Infrastructure will
include an access and haulage road from the Michelin mill site, power
considerations, site water management system, mine maintenance facilities, mine
waste storage and emergency housing facilities.


METALLURGY AND PILOT PLANT

Aurora will be testing a mixture of Jacques Lake and Michelin ores at a pilot
plant at SGS's Lakefield, Ontario laboratory in mid-February. Initial work
conducted in 2007 suggests that Jacques Lake ore will produce a slighter greater
uranium extraction rate (approximately 90%) compared with the Michelin ore (88
%).


DRILLING

There is now a 50-person all-season camp established at Jacques Lake with an
independent crew, logistics support, staff and budget. The camp will support
Aurora's 2008 hydrology, geotechnical and drilling programs. Winter drilling at
Jacques Lake is currently underway, with two rigs drilling an estimated 5,000
metres with the objective of converting inferred resources into measured and
indicated resources. Aurora is also planning geotechnical and hydrological
drilling at Jacques Lake deposit during 2008 program. This would support open
pit and underground mine planning.


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)(i). Aurora is undertaking pre-feasibility studies to move the project
towards development.


Aurora is not invested in any short term commercial paper or asset-backed
securities. The Company has approximately C$131 million in cash that is fully
liquid and held with a large commercial bank.


Aurora is committed to responsible development with lasting local benefits and
the highest standards of safety, health, and environmental protection.


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.


(i) 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. Further details as to how these resources are
calculated can be obtained by reading The Exploration Activities of Aurora
Energy Resources Inc. on the CMB Uranium Property, Labrador, Canada, During the
Period January 2006 to January 2007 prepared to NI 43-101 requirements which 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 and potential timing of receipt of permits and
classification of future mineral resources, and potential for future benefits,
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.

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