Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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trickydisco

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ARU announces closing of PP

posted on Jul 28, 2008 02:33PM

Trading Symbol TSX:ARU

AURELIAN RESOURCES INC.

NEWS RELEASE

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWS WIRE SERVICES.

July 28, 2008

For immediate release

Aurelian Announces Closing of Private Placement

TORONTO, ON – Aurelian Resources Inc. (TSX:ARU) today announced completion of the previously announced private placement financing by Kinross Gold Corporation consisting of 15 million Aurelian shares at a price of $4.75 per share for total proceeds of $71.25 million. Kinross announced earlier today that it has completed the mailing to Aurelian shareholders of the takeover bid circular and other documents relating to its offer to acquire all of the outstanding common shares of Aurelian (see July 24, 2008 press release). The offer expires at 6:00 p.m. (Toronto time) on September 3, 2008.

The private placement represents a significant increase in Aurelian’s working capital and a strategic investment in Aurelian by Kinross irrespective of the outcome of the proposed friendly combination with Aurelian. Proceeds of the private placement are intended for development of the Fruta del Norte gold-silver deposit and general corporate purposes.

This Press Release is available as an Acrobat PDF document from the following link: