VANCOUVER, BRITISH COLUMBIA (TSX: AXU) is pleased to announce
that its winter infill drilling program has further demonstrated
the continuity of the known resource at the Company's 100%-owned
Jacques Lake Deposit ("Jacques Lake") in Coastal Labrador.
"The results reinforce the grade and tonnage estimates of this
growing asset and the very significant potential of Jacques Lake,"
said Aurora's President and CEO, Dr. Mark O'Dea. "The results are
similar to those for the Michelin Deposit in its initial
exploration stages," added Dr. O'Dea.
Highlights from winter infill drilling program include:
- 0.10% U3O8 over 40.79 metres including 0.19% U3O8 over 11.79
metres in JL08-080
- 0.12% U3O8 over 6.00 metres including 0.22% U3O8 over 2.00
metres in JL08-082
- 0.11% U3O8 over 10.50 metres including 0.14% U3O8 over 6.00
metres in JL08-087
A total of six completed holes and two partial holes totaling
3,947 metres were drilled to test the main resource to a depth of
365 metres. The deposit currently has a drilled strike length of
over 650 metres and remains open for further expansion to the
southwest and at depth.
Drill results are listed below:
--------------------------------------------------------
Hole ID From (m) To (m) Length (m) %U3O8
--------------------------------------------------------
JL08-080 360.00 400.79 40.79 0.10
--------------------------------------------------------
incl. 376.00 378.00 2.00 0.25
--------------------------------------------------------
incl. 389.00 400.79 11.79 0.19
--------------------------------------------------------
JL08-081A 454.00 458.00 4.00 0.07
--------------------------------------------------------
JL08-082 292.50 294.50 2.00 0.06
--------------------------------------------------------
and 406.00 419.00 13.00 0.05
--------------------------------------------------------
incl. 406.00 409.00 3.00 0.10
--------------------------------------------------------
and incl. 416.00 417.00 1.00 0.11
--------------------------------------------------------
and 422.00 428.00 6.00 0.12
--------------------------------------------------------
incl. 424.00 426.00 2.00 0.22
--------------------------------------------------------
JL08-083 388.50 390.50 2.00 0.08
--------------------------------------------------------
and 408.00 411.00 3.00 0.05
--------------------------------------------------------
JL08-084 804.00 805.00 1.00 0.05
--------------------------------------------------------
JL08-085 hole to be completed in spring
--------------------------------------------------------
JL08-086 hole to be completed in spring
--------------------------------------------------------
JL07-087 77.00 78.00 1.00 0.11
--------------------------------------------------------
and 93.00 100.00 7.00 0.06
--------------------------------------------------------
and 108.00 118.50 10.50 0.11
--------------------------------------------------------
incl. 108.00 114.00 6.00 0.14
--------------------------------------------------------
and 192.00 194.00 2.00 0.10
--------------------------------------------------------
The orientation of the mineralized zones at Jacques Lake
is interpreted to be steeply southeast dipping and stated
widths are approximately 80-90% of true widths.
For a view of the long section at Jacques Lake, please use the
following link:
http://www.aurora-energy.ca/files/JL_LongSection_04.28.2008.jpg.
Aurora's February 2008 resource update announced that the
Jacques Lake Deposit had grown by 67%. The Jacques Lake Deposit
contains a measured and indicated NI 43-101 resource of 10.4
million pounds U3O8 (6.1 million tonnes at 0.08% U3O8) and an
inferred resource of 6.9 million pounds U3O8 (5.0 million tonnes at
0.06% U3O8) -- see Feb. 25, 2008 News Release, "Aurora Exceeds
Annual Resource Target and Adds Four New Deposits to Project
Pipeline".
Like the Michelin Deposit, the Jacques Lake mineralization lends
itself to conventional open pit and underground mining techniques,
as well as standard, well-understood processing technologies. Also
like Michelin, no groundwater, metallurgical or rock mechanic
issues have been identified to date at the Jacques Lake
Deposit.
Jacques Lake is part of Aurora's district of six uranium
deposits in Coastal Labrador. This district is anchored by the
Michelin Deposit, and also includes four newly estimated nearby
satellite deposits called Rainbow, Nash, Inda, and Gear. All these
satellite deposits have the potential for significant,
Michelin-style growth and are located within 30 kilometres of
Michelin.
"Aurora's uranium pipeline constitutes one of the most important
uranium districts outside the Athabasca Basin," said Dr. O'Dea.
"Our infill drilling adds weight to this outstanding district that
already ranks as having one of the largest undeveloped uranium
deposits in the world. The infill drilling scheduled for 2008 at
both the Michelin and Jacques Lake deposits seeks to further
establish the value of our asset in the global uranium resource
sector," added Dr. O'Dea.
ABOUT AURORA
Aurora 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 continues to work closely with the Nunatsiavut
Government, Inuit Community Government representatives and
Beneficiaries to build a better understanding of uranium mining.
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, Vice-President - Exploration for Aurora
Energy Resources Inc., who is designated as a Qualified Person with
the ability and authority to verify the authenticity and validity
of this data. Drill core was prepared and analyzed in accordance
with industry standards by Activation Laboratories Ltd., Ancaster,
Ontario.
Christopher Lee, P. Geo, Chief Geoscientist for Aurora Energy
Resources Inc., is the designated Qualified Person for the CMB
resource estimates. Aurora's CMB Mineral Resources are reported at
cut-off grades that contemplate underground (0.05% U3O8) and open
pit (0.03% U3O8) mining scenarios, based on preliminary economic
assumptions, and may be refined with more in-depth economic
analyses. The CMB Mineral Resources were estimated according to the
CIM Best Practice Guidelines and are described in detail in
Aurora's most recent technical report entitled, "An update on the
exploration activities of Aurora Energy Resources Inc. on the CMB
Uranium property, Labrador, Canada, during the period January 1,
2007 to December 31, 2007, Part II - CMB Mineral Resources"
(available on SEDAR). Mineral resources are not mineral reserves,
and there is no guarantee that any resource will become a
reserve.
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 and exploration risks and hazards, increased
infrastructure and/or operating costs, labor and employment
matters, access to future funding 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.
Contacts: Aurora Energy Resources Inc. Andrea Marshall Manager,
Government and Media Relations (709) 726-2223 Aurora Energy
Resources Inc. Don Falconer VP, Corporate Development (416)
362-5556 Website: www.aurora-energy.ca
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