 | | | July 31, 2009
Aurelio Signs Binding Letter Of Intent Concerning The Sale Of Four Nevada Gold / Silver Projects
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| | Aurelio Resource Corporation (OTCBB : AULO, Frankfurt : F3RA) announces that the Company has signed a binding Letter of Intent with JKR Gold Resources, Inc. ("JKR"), a private Canadian mineral exploration company, concerning the sale of four of the Company's recently-acquired gold / silver projects in Nevada.
If the transaction is consummated as currently contemplated (as to which no assurance can be given), the transaction would result in the Company granting JKR an exclusive option to acquire the Indian Creek, Robinson Creek, Crescent Valley North (CVN) and Safford Canyon projects (totaling 395 unpatented mining claims).
The transaction requires JKR to issue 600,000 common shares to Aurelio at closing, make cash payments totaling US$200,000 over 12 months, and completing US$1.5 million of exploration work by August 2012. JKR will pay all BLM and county land maintenance costs, as well as assuming all underlying lease payments each of the projects.
Aurelio will retain a 1% NSR royalty interest in each of the projects.
The transaction is anticipated to close within the next five days.
On behalf of the Board of Directors,
Stephen B. Doppler
President and CEO
303-795-3030
800-803-1371
About the Company
Aurelio Resource Corporation recently acquired a portfolio exploration and development-stage gold projects in Nevada, most of which are located on or in-between the Carlin and Battle Mountain-Eureka Trends; several of the projects are situated along the Cortez-Carlin Trend, which conceptually links the Carlin and Battle Mtn - Eureka Trends in a similar fashion as does the Getchell Trend to the northwest. The Company also holds a 3% NSR interest in the Hill (Arizona) Copper-Zinc Project, which contains an estimated resource of 167.9 million tons grading 0.52% copper-equivalent. Aurelio has also acquired the rights to explore, and an option to purchase, the Gavilanes gold deposit in Durango, Mexico.
For additional information, please visit our website www.AurelioResource.com
Legal Notice Regarding Forward Looking Statements
Statements in this news release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur.
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: that we may not be able to reach final agreement on definitive documents required parties; 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; uncertainties involved in the interpretation of drilling results and other tests and the estimation of resources; 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 Form 10-K and Form 10-Q Reports filed with the Securities and Exchange Commission. |
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