Aurelio Interim Progress Report and Insiders Trading
LITTLETON, COLORADO, September 18, 2007 News Release #07-16
The Board of Directors of
Aurelio Resource Corporation (OTCBB: AULO, Frankfurt:
F3RA) are very excited about the future of the Company and the progress that
the Company currently is making.
We have been advised that
the Toronto Stock Exchange (TSX) has
conditionally approved the changes in the company’s By-Laws and Aurelio
is planning to apply to the TSX
for listing on the Venture
Exchange as soon as our National Instrument 43-101 Technical Report has been
finalized.
Drilling
continues in the South Courtland
area and has identified a significant new zone of shallow oxide copper and zinc
mineralization. Soon the drilling will move to the MAN area for
confirmation and step-out drilling to verify its in-house estimated resource of
800 million pounds of copper-zinc equivalent and test a number of additional
targets along strike from the primary mineralized areas.
Metallurgical
testing is commencing on oxide copper, and zinc samples
obtained from this summer’s drilling in the South
Courtland area. This testing program will define the
leaching characteristics of the near oxide resources.
A resource estimate on the MAN area by an
independent engineering firm has been completed, and a final report is pending
that is expected to confirm our in-house calculated resource of 800 million pounds
of copper equivalent. This report is significant in that it will enable
the Company to provide a greater confidence level to the investing public that
the mineralization Aurelio has identified is likely in place.
Considerable infill and confirmatory drilling will be required to define a 43-101
compliant resource.
To increase our cash reserves to pay for additional
drilling, three officers of the company are in the process of exercising a
portion of their stock options, not with the objective to sell the acquired
shares, but to keep them as future investments. The Board of Directors
agreed unanimously to allow these insiders
to sell, gradually, a minor part of their restricted shares under SEC Rule 144
to pay for these options. Exercising these options will generate several
hundred thousand dollars.
Aurelio has started a
more aggressive publicity campaign now that it has consolidated the mineral and
surface rights in the Turquoise Mining District which include the MAN and
Courtland area. Aurelio controls a total of 5274 acres including 44
patented claims, 100 unpatented claims and six Arizona mineral explorations permits.
About The Company
Aurelio Resource
Corporation is a mineral exploration and development company focused on
achieving mid-tier producer status. The Company's wholly-owned Hill
Copper-Zinc Project is located east of Tucson,
AZ and contains a number of
potentially low-cost, bulk-tonnage, open-pit-mineable deposits close to surface
containing significant amounts of copper, zinc, silver and gold.
Presently, the in-house calculated resource for the entire Hill project is
estimated by the Company to be nearly 800 million pounds of copper at a
copper-equivalent grade of 0.65% (copper and zinc combined). Aurelio has
also acquired the rights to explore, and an option to purchase, the Gavilanes
gold porphyry deposit in Durango,
Mexico.
On behalf of the Board of Directors of Aurelio Resource Corporation
Fred Warnaars, President and CEO
Contacts:
Dr. Fred Warnaars Diane
Dudley
President & CEO Investor
Relations
303-795-3030 303-945-7273
(direct)
800-803-1371 303-945-7270
(fax)
For additional
information, please visit our website (www.aurelioresource.com)
and/or send an email to Dianed@aurelioresource.com..
Legal
Notice Regarding Forward Looking Statements
Statements
in this news release that are not historical are forward-looking
statements. Forward-looking statements in this news release include that
a significant additional mineralization of shallow oxide copper and zinc has
been identified in the South Courtland area, drilling will move to the MAN area
for confirmation drilling and step-out drilling soon, that there is an in-house
estimated resource of 800 millions pounds of copper and zinc, that we will
apply officially for a TSX listing by the end of September, that the National
Instrument Form 43-101 Technical Report will be finalized, that a final report is
expected to confirm our in-house calculated resource of 800 million pounds of
copper and zinc, that restricted shares will be sold, options will be exercised
and generate several hundred thousand dollars, and the funds generated will be
applied to the company’s drilling program, Aurelio controls the required
property and mineral aspects of the Hill Copper-Zinc Project , and that our
near surface results indicate potential for open-pittable low cost
mining methods.
It is important to
note that the Company's actual outcomes may differ materially from those
statements contained in this press release. Factors which may delay or prevent
these forward looking statements from being realized include misinterpretation
of data; that we may not be able to keep our qualified personnel; that funds
expected to be received may not be; that our estimates of mineral resources are
inaccurate; that we may not be able to get equipment or labor as we need it;
that we may not be able to raise sufficient funds to complete our intended
exploration, purchase, lease or option payments; that our applications to drill
may be denied; that weather, logistical problems or hazards may prevent us from
exploration; that analysis of data cannot be done accurately and at depth; that
results which we have found in any particular location are not necessarily
indicative of larger areas of our property; and that despite encouraging data
there may be no commercially exploitable mineralization on our properties.
Readers should refer to the risk disclosures outlined in the Company's most
recent 10-KSB and 10-QSB filed with the Securities and Exchange Commission.
Regards,
Diane G. Dudley
Investor Relations
Aurelio Resource
Corporation
303-945-7273
1-800-803-1371
dianed@aurelioresource.com
stock traded as AULO
on Over the Counter Bulletin Board (OTCBB)
Web site: www.aurelioresource.com