Aurelian Resources (ARU)

[Rocketred]

Michael Gray, B.Sc., M.Sc., P. Geo writes
Aurelian has discovered a World Class +10M oz Gold System
on its Condor project, Ecuador called Fruta del Norte. We rate
the discovery as the best undeveloped gold system controlled
by a junior – anywhere on the planet. The FDN gold deposit is
documented by drilling over a 1100m strike length, is up to 325m
wide and up to 120m in thickness. We currently estimate Fruta del
Norte’s potential resource to be 11.1M oz.

Takeover Sweet Spot: We believe the Condor Project has
20M oz to 40M oz gold potential as part of a new Epithermal
Gold Belt – based on the architecture of Aurelian’s 100%
owned Fruta del Norte gold system, there is demonstrable upside
given the geological setting and attendant district scale land position.

We believe a number of senior and mid tier producers covet
Aurelian and its Fruta del Norte gold deposit and its outstanding
exploration potential.

At 35 g/t gold (uncut) over 250m, is hole CP07-100 not the
best gold drill intersection of all time? For a gold system with
only 46 holes reported to date and no 43-101 resource, hole 100 is
a monster intersection at almost three football fi elds long. This in-fi ll
hole has demonstrated the upside to tighter-spaced drill documentation of the Fruta del Norte gold system.

Exploration potential “west of the west fault” is extremely
high. Given the anatomy of the Fruta del Norte deposit as documented
to date and the structural model Aurelian is working with,
we see “the other half” of Fruta del Norte being eventually detected
through persistent drilling to the southwest.

Permissive setting for world class gold system on all fronts
– we believe the structural, geochemical and lithological settings at
of Fruta del Norte were extremely permissive for the development
of a world class gold system.