Aurora Gold Updates Activities, 1st Half 1998.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 1, 1998--The management of Aurora Gold Corporation ("Aurora Gold") provides the following update on activities in the company: ANNUAL & 1ST QUARTER REPORTS The Company is pleased to announce that it has completed its year end 1997 financial statements and 1st quarter 1998 quarterly financial statements. First half 1998 financial statements will be issued July 15, 1998. FINANCING ACTIVITIES The Company raised USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $250,000 in equity capital by way of private placement during the first quarter of FY 1998. The proceeds from this private placement will be used in furthering exploration objectives and for the general working purposes of the Company. The Company will continue to raise equity capital by way of private placements during the second half FY 1998 on an as needed as needed prn. See prn order. basis. OPERATIONS IN GUATEMALA Aurora Gold has been active in Guatemala since early 1997. A thorough review of exploration prospects lead to the acquisition of a total of fifteen mineral concessions, pending approval by the Guatemalan Government. The Company has employed field geologists and has been carrying out work on the ground and is currently awaiting results. Initial programs have involved field reconnaissance work and the collection of data for interpretation. The following mineral concessions have now been approved and granted by the Government: Miramundo, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Los Cipreses, Chiyax, Monjitas and El Rancho El Rancho may refer to:
n. A rope with weights attached, used especially in South America to catch cattle or game by entangling their legs. [From American Spanish bolas, pl. de Oro, La Union, and Tesoro. The following two mineral concessions have been dropped: Atitlan and El Truinfol. All fifteen concessions are located in regions that are considered to be the geological setting with the greatest mineral potential in Guatemala. Certain concessions encompass a number of gold and silver mines and/or claims that were operated by the Spaniards during colonial times. EXPLORATION & ACQUISITION Exploration continues to be Aurora Gold's prime objective. While the current slate of prospects in Guatemala offer significant potential for precious and base metals development, the Company is mindful of the fact that it must pursue opportunities in other emerging mining regions to develop long term value. Most recently, the Company has focused its efforts on Africa. Out of the many prospects under review the company has contacted the most potentially valuable prospects in the Congo (DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) ) and in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Aurora Gold applies an exhaustive review by skilled geological personnel familiar with the regions and knowledgeable in the development of similar prospects. Any consideration of acquisition, joint venture or participation in the development of mineral properties will follow this path. The Company expects that an announcement concerning the acquisition or joint venture on mineral concessions in the Eastern Congo are imminent, while an announcement regarding the South African property is anticipated in late July, 1998. REGISTRATION FOR FORM 10SB Aurora Gold Corporation has submitted Form 10sb with the U.S. Securities and Exchange Commission on June 4, 1998 to become a fully reporting company under the SEC guidelines. The filing of Form 10sb becomes effective on September 1, 1998, ninety days after filing with the SEC. Form 10sb is a registration statement that provides for increased access by market makers to purchase the Company's stock and wider dissemination of corporate information as a fully reporting company. SUMMARY Company President David Jenkins David Jenkins may refer to:
Aurora Gold Corporation is a mineral exploration company pursuing gold and base metal projects in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , and Africa. Its stock trades under "ARXG" on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . ON BEHALF OF THE BOARD David Jenkins President This News Release includes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, and section 21E of the Exchange Act of the United States of America. All statements other than statements of historical facts included in this News Release, are forward-looking statements. All forward looking statements are identified with a (**) asterisk (1) See Asterisk PBX. (2) In programming, the asterisk or "star" symbol (*) means multiplication. For example, 10 * 7 means 10 multiplied by 7. The * is also a key on computer keypads for entering expressions using multiplication. . All statements concerning geological resources are also deemed to constitute to be forward looking statements to the extent that they reflect conclusions that may infer potential for further development or commercial viability. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct. These forward looking statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projections; these risks include but are not limited to exploration, sampling, geological mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , accidents, breakdowns and political risk. All attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the Cautionary Statement.
CONTACT: Aurora Gold Corporation
David Jenkins, 888/251-4595
FAX: 888/420-6463
INTERNET: http://www.aurora-gold.com
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