CybeRelease: (OTC: AULO) Completes Agreement with Newmont Mining
(CybeRelease, April 25, 2007) - Aurelio Resource Corporation (OTC BB: AULO) announced the completion of the option agreement with Newmont Mining Company. The acquisition was concluded through its wholly owned Arizona subsidiary, Bolsa Resources Inc., and further expands Aurelio’s property ownership at its Hill Copper Project in Arizona.
The final agreement with Newmont Mining Corporation pertains to an option to purchase two patented mining claims, known as the Banner and the Australia claims. These claims are adjacent to Aurelio’s MAN claims. Newmont has agreed to a purchase price of $100,000 U.S. paid in stages over a one-year period, and Aurelio agreed to give a 1% Net Smelter Returns Royalty on the patented claims as well as any properties Aurelio currently owns or acquires within a designated Area of Interest. We may commence drilling only after full payment of the purchase price in one year. In addition, Newmont has retained a right of first refusal to earn back into the property if Aurelio decides to joint venture or sell the property.
Newmont also made available an extensive exploration file of the Turquoise Mountain Mining District, Cochise County, Arizona, where the Hill Copper project is located including the logs and assay results of 274 holes, drilled by ten different companies between the 1950’s to the late 1980’s. These companies include Santa Fe Mining, Asarco Mining, Kennecott Copper, Union Oil, and Great Gray Resources. This database provides confirmation of Aurelio’s, in-house estimated, open-pittable mineral resources of 53.2 million tons @ 0.65% Cu (equivalent). Drilling is still required to confirm this resource. In addition, the company has identified at least eight copper- and zinc-rich exploration targets within the company’s Hill Copper Project. These contain the potential to notably increase its resources.
Aurelio is committed to continue developing its primary asset, the Hill Copper Project, which management believes has significant upscale potential for both copper and zinc. It is further anticipated that the Project will become an important producer of copper and zinc for the State of Arizona.
The Company’s common shares are traded on the OTC-BB exchange under the symbol “AULO.”
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