AXU Alexco Resource Corp

Aurora Energy Resources Inc. ("the Company" or "Aurora") (TSX:AXU) is pleased to
announce its program for 2009, which will focus on conserving the Company's
substantial cash position while continuing to build community support and
advancing environmental and engineering studies.


The 2009 program involves completing a tailings management options study,
continuing environmental baseline studies and metallurgical studies, and
progressing the mill process design, while implementing a comprehensive
community engagement plan.


"The focus is to maintain our strong cash position." said Bruce Dumville,
Aurora's President and CEO. "During the period the Nunatsiavut Government's
moratorium on uranium mining is in place, it is prudent for Aurora to conserve
its cash. And, as the uranium and capital markets improve, we will also be well
positioned for the future."


BUDGET

Aurora's net cash outlay for 2009 is forecasted to be C$5.9 million (all amounts
are in Canadian dollars unless otherwise stated). The key expenditures include:


- $3.0 million on exploration;

- $3.7 million for community and aboriginal relations;

- $1.8 million for environment and engineering studies; and

- $2.5 million for general and administration costs.

The 2009 budget includes estimated interest revenue of $3.5 million, and
exploration activity to reclaim $1.6 million held in bond by the province of
Newfoundland and Labrador.


This is a significantly reduced budget from last year's $35 million budget.

TAILINGS MANAGEMENT PLAN

Consultations with residents of coastal Labrador and local governments have
identified tailings management for the Michelin Project as a key area of
interest. In recognition of this, and to advance engineering and environmental
aspects of the Project, Aurora has undertaken a tailings management options
study to review all aspects of successful tailings design, including:


- Global practices

- Existing land use by community members

- Engineering design

- Possible effects on water, air quality, fish and wildlife

- Possible radiological effects

- Safe, long-lasting closure designs

This process will consider a variety of candidate options. In 2009, Aurora will
consult with the communities in selecting the most appropriate potential
options, while incorporating input from engineering and scientific experts.


In support of its commitment to environmental protection, Aurora will continue
with studies designed to maintain high quality baseline data in the areas of
water flow, water quality sampling, meteorology, air quality, and background
radiation.


COMMUNITIES

The importance of enhancing Aurora's community relations activities is reflected
in this year's program. "Building community support continues to be one of our
highest priorities," said Mr. Dumville.


Aurora plans to continue its community consultations in 2009, which will include
consultation on the training and employment plan and on the tailings management
selection process and outcome. Other community engagement activities, including
presentations to Inuit Community Governments, Innu Nation and other community
meetings, will continue.


The Michelin Project Community Panel will also meet regularly to provide
guidance to Aurora on various initiatives.


TRAINING

Preparing for the employment opportunities associated with the Michelin Project,
in both the construction and operations phases, is important to residents of
North Coast Labrador. It is expected that Aurora will complete its training and
employment framework this year, providing a guide to direct Aurora's future
training and employment efforts.


EXPLORATION

Central Mineral Belt, Labrador

The main purpose of the 2009 exploration program in Labrador is to manage and
maintain Aurora's mineral lands within the Central Mineral Belt. The
Newfoundland and Labrador Minerals Act indicates that a minimum amount must be
spent on a mineral claim per year to maintain the mineral claim in 'good
standing'. Aurora will spend $1.6 million in 2009 on prospective mineral claims
to reclaim the $1.6 million held in bond by the province of Newfoundland and
Labrador. This is a cash neutral program.


A plan for the exploration of the claims held in bond is currently being
developed, but will include prospecting, geological mapping, geological
sampling, and investigations of known showings.


Baker Lake Basin, Nunavut

The option agreement to acquire an interest in the Baker Lake Basin property in
Nunavut requires a minimum of $3.0 million of expenditures in the first year of
the agreement (see September 23, 2008 news release, "Aurora Expands Uranium
Pipeline to Baker Basin, Nunavut"). During 2008, Aurora completed an airborne
geophysical program (radiometric, magnetic, and electromagnetic) over the Baker
Lake Basin property, drilling of the Lucky 7 zone, ground geophysics and
geological mapping, which required a $1.9 million expenditure. In 2009 Aurora
plans to spend $1.1 million to meet its obligations within the option agreement.
This is proposed to include a 1,000 metre drill program, as well as geological
mapping and testing of anomalies discovered in the 2008 geophysical survey.
Aurora will continue its community and government contact program in the Baker
Lake region, as well.


ABOUT AURORA

Aurora is a uranium exploration and development company active in the Central
Mineral Belt of coastal Labrador - one of the world's most promising uranium
districts - and in Nunavut, Canada, where it has acquired an interest in the
Baker Lake Basin property.


A Special Committee of the Board of Directors is being formed to evaluate an
offer from Fronteer Development Group to acquire Aurora. The offer is expected
by January 30, 2009. For more information, please see December 22, 2008 news
release, "Fronteer announces intention to acquire Aurora Energy Resources Inc."


Aurora has no debt and approximately C$99 million in cash that is fully liquid
and held with a large Canadian commercial bank.


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


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, future developments on the economy and governmental regulations and
moratoriums, future operations, project costs and production, 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, general economic conditions and government
regulation as well as those factors discussed in the section entitled "Risk
Factors" in Aurora's most recent 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, other than required by law. Accordingly, readers should not
place undue reliance on forward-looking statements.

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