Aurania Resources Ltd V.ARU

RE: What would My 10,000 ARU be worth?

[u308gold]

Aurelian has made a major gold discovery on its 100% owned Condor Project in southeast Ecuador where it controls a district scale land position. AURELIAN RESOURCES INC. (T-ARU), $7.26 Rating: BUY (previously Under Review) Target: $75.00 �� April 23, 2007 Michael Gray, B.Sc., M.Sc., P. Geo [e-mail] [phone] Alex Tyszkiewicz B.Comm. AURELIAN HAS THE ROSETTA STONE – CONDOR GOLD BELT HAS 20M oz to 40M oz POTENTIAL Highlights This Corporate Update report is to provide a synopsis of our site visit to Aurelian’s Fruta del Norte deposit in late February 2007 and to re-value the company based on our technical and political reviews. 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.