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Aurelian Intersects 204.80 Metres Averaging 8.40 g/t of Gold at the FDN Epithermal Gold-Silver Discovery

Aurelian Intersects 204.80 Metres Averaging 8.40 g/t of Gold at the FDN Epithermal Gold-Silver Discovery

TORONTO, ONTARIO -- (MARKET WIRE) -- 06/02/06 -- Aurelian Resources Inc. (TSX VENTURE: ARU) today announced a 204.80 metre intercept grading 8.40 g/t of gold, which includes 79.10 m grading 16.15 g/t of gold, at its wholly-owned Condor Project in southeastern Ecuador. The results reported in this press release represent four holes of an ongoing drill program designed to test the geometry, continuity and grade of the buried epithermal gold-silver discovery at Fruta Del Norte (FDN). Maps, sections, photos of core and full assay results may be found at www.aurelian.ca.

"This latest round of results confirms the grades we reported from the first four drill holes at FDN in April. Two of those first four holes returned significant grade with CP-06-51 intercepting 237.25 m of 4.14 g/t of gold and CP-06-52 intercepting 60.25 m of 3.42 g/t of gold before that drill hole had to be abandoned for technical reasons," says Aurelian President & CEO Patrick F. N. Anderson. "Furthermore, we have traced the system over approximately 300 m of strike length and it remains open to the north, south and west. The hit ratio at this early stage in the drilling program on a new and blind target is exceptional. Since drill hole CP-06-51 we have managed to intercept a strong zone of mineralization in at least one drill hole on each 100 m step-out section. The results show that the system is strengthening to the north and west. Our ongoing drilling program at FDN will continue using two rigs stepping-out on 100 m sections to the north. We are seeking further drill rigs to add to the program at FDN and to continue exploration at our other numerous gold and copper targets within the concessions."

Results are summarized in the tables below. Intervals containing high grade assays have been re-calculated using a 31.1 g/t of gold top cut. All drill holes have an azimuth of 90 degrees and dip between 60 degrees and 70 degrees.

---------------------------------------------------------------------
                             Uncut data
---------------------------------------------------------------------
Cross section  Drill hole From (m)  To (m) Interval (m) Au g/t Ag g/t
---------------------------------------------------------------------
                 CP-06-53   99.00  101.00         2.00    0.76    0.6
               ------------------------------------------------------
                 CP-06-53  297.15  298.90         1.75    0.56   18.1
               ------------------------------------------------------
                 CP-06-53  304.00  310.50         6.50    0.50   19.7
               ------------------------------------------------------
                 CP-06-53  323.45  329.45         6.00    0.82   11.4
               ------------------------------------------------------
                 CP-06-53  335.45  387.65        52.20    1.04    3.6
               ------------------------------------------------------
9583100N         CP-06-54  342.00  343.00         1.00    0.54    0.9
               ------------------------------------------------------
                 CP-06-54  356.00  383.00        27.00    2.41    1.3
               ------------------------------------------------------
                including  356.00  363.00         7.00    7.39    2.1
               ------------------------------------------------------
                 CP-06-54  393.00  394.00         1.00    3.46    1.7
               ------------------------------------------------------
                 CP-06-54  407.60  493.55        85.95    3.20    2.9
               ------------------------------------------------------
                including  410.15  437.50        27.35    6.31    3.2
---------------------------------------------------------------------
                 CP-06-55  245.20  435.00       189.80    2.12    6.8
               ------------------------------------------------------
                including  368.34  388.50        20.16    3.24   12.2
               ------------------------------------------------------
                      and  406.50  429.20        22.70    3.18    5.3
               ------------------------------------------------------
9583200N         CP-06-55  442.30  448.00         5.70    0.93    2.9
               ------------------------------------------------------
                 CP-06-55  466.00  468.00         2.00    1.31    4.2
               ------------------------------------------------------
                 CP-06-55  478.53  486.40         7.87    0.41    3.7
---------------------------------------------------------------------
                 CP-06-56  220.20  425.00       204.80    8.40    8.5
               ------------------------------------------------------
9583300N        including  246.00  325.10        79.10   16.15   10.8
               ------------------------------------------------------
                 CP-06-56  431.00  462.80        31.80    1.18   14.7
---------------------------------------------------------------------
Note: intervals are calculated using a lower cut of 0.5g/t Au and no
 top cut, they include a maximum of 5m internal waste.
---------------------------------------------------------------------

---------------------------------------------------------------------
              lntervals with a top cut of 31.1g/t Au
---------------------------------------------------------------------
Cross section  Drill hole From (m)  To (m) Interval (m) Au g/t Ag g/t
9583100N         CP-06-54  356.00  383.00        27.00    1.92    1.3
---------------------------------------------------------------------
9583300N         CP-06-56  220.20  425.00       204.80    6.92    8.5
---------------------------------------------------------------------

The Fruta Del Norte target is interpreted as a low to intermediate sulphidation epithermal gold-silver system. The mineralisation is buried by a dominantly post-mineralisation conglomerate, within a pull-apart basin. The system is characterized by multiphase stockwork veining and hydrothermal brecciation within intensely silicified andesitic volcanics. Larger veins up to 6.05m (down hole length) have also been intersected. Two main mineralising episodes are interpreted, an earlier quartz-carbonate-sulphide phase and a later quartz-sulphide phase with visible gold in both phases. The visible gold occurs both within the larger veins and also within stockwork veinlets and breccias as fine grained disseminations, as fine seams or as larger pieces (up to 5mm) within veins. Gold has also been observed within pyrite clusters. In drill hole CP-06-56, eighteen occurrences of visible gold have been observed over a vertical interval of 110m.

Three additional holes (CP-06-57, 58 and 59) have been completed on section 9538400N and all have intersected epithermal veining and brecciation with occurrences of visible gold. A fourth hole (CP-06-60) has been completed on section 9538500N and has also intersected intensely silicified, veined and brecciated volcanics with visible gold. Assays are pending for all 4 holes.

Vein orientations in drill core indicate there are two dominant vein sets. A set dipping shallow to moderately west and another set dipping steeply west. A series of scissor holes are planned to help ascertain the true width of the system. The recent drilling indicates the basin floor is relatively flat, sloping gently to the west before being dropped to an unknown depth by a steep westerly dipping, north-south fault. Due to topography the mineralisation is coming closer to the surface to the north.

Drilling is comprised of HQ or NQ diamond core with recovery close to 100%. The samples are sawed half core and were assayed at ALS Chemex's Vancouver Laboratory or the Inspectorate Services Laboratory in Peru by 50g fire assay with an ICPAES, AAS or gravimetric finish. As part of quality-assurance, quality-control (QAQC) certified standards of known gold content are inserted every 20 samples, blanks at least every 20 samples and field and lab duplicates are taken every 25 samples. Standards, blanks and duplicates make up approximately 15% of the samples assayed. As an additional QAQC check, 46 of the higher grade samples from drill hole CP-06-51 (PR 05/04/2006) were re-assayed by the metallic screen fire method that is considered a better analysis for samples containing coarse gold. The metallic screen fire assays report an average of 4% higher Au than the original fire assays. Inter-lab QAQC has also been conducted and is ongoing. Half core samples have been retained on site for verification and reference purposes.

Stephen Leary MAusIMM is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.

About Aurelian:

Aurelian Resources Inc. is a publicly-listed (TSX VENTURE: ARU) junior resource company engaged in the business of exploring, discovering and developing mineral wealth in Ecuador. The Condor Project properties are located in southeastern Ecuador and consist of 38 mining concessions totaling approximately 95,000 hectares.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.



THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Aurelian Resources Inc.
Patrick F. N. Anderson
President & CEO
(416) 868-9100
(416) 868-1807 (FAX)
[email protected]
www.aurelian.ca

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