Aurora Platinum Corp. Intersects New Sulphide Mineralization, Nickel Lake Zone, Foy Offset Property Sudbury, Ontario.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 3, 2004

Aurora Platinum Corp. (TSX VENTURE:ARP) announced today the log results of its recent exploration drilling program on the Nickel Lake Zone, Foy Offset, Sudbury, Ontario, part of its Nickel Lake Option/Joint Venture with Inco Limited.

The Company's latest hole, Ni-25, intersected a 40.7 metre (787.1 metres to 827.8 metres) section of intermittent semimassive sulphide with localized massive sulphide concentrations. Mineralization is characterized by typical inclusion bearing sulphides ("breccia ore"). Within this intersection is a 27.7 metre continuous section (794.7 metres to 822.4 metres) of pervasive semimassive to massive sulphide. Based on drilling to date, the dip of the mineralization varies between 70 degrees to 75 degrees. Assuming a dip of 75 degrees the 40.7 metre sulphide intersection has a calculated true width of approximately 22 metres, and the 27.7 metre intersection has a true width of approximately 15 metres. Assay results are pending.

Ni-25 was designed to intersect the off-hole "near-miss" highly conductive (6,000 Siemens) BHUTEM-4 response modeled to be lying 10 to 15 metres east of Ni-24 at a downhole depth of 790 metres. The intersection in hole Ni-25 verifies the conductive body as typical Sudbury Offset-type sulphide mineralization. Drilling and borehole surveys to date (Ni-21, Ni-22, Ni-25) have established a conductive trend along the hanging wall of the Foy Offset Dyke that extends for more than 100 metres in strike and 400 metres in depth, but remains open in all directions. Ni-21, Ni-22 and Ni-25 have intersected the modeled conductor and confirm the presence of sulphides over a vertical extent of 290 metres.

Nickel sulphides are very conductive and in the proper geological environment such as the Sudbury Igneous Complex Contact and Offset Dykes, a highly conductive response is a good indicator of nickel sulphides. In the last decade, with partial funding by major nickel producers and continuous development, the three component borehole UTEM geophysical probe has been developed to detect and help quantify the very high conductance targets which are indicative of nickel sulphides. Its use in the Sudbury Mining Camp has been instrumental in the recent discovery of several world class Ni-Cu-PGM deposits.

The Nickel Lake Property covers 1.4 kilometres of the west-north-west trending Foy Offset Dyke and hosts numerous Ni-Cu-PGM sulphide showings. Historical (shallow) drilling by Inco intersected significant sulphide mineralization at Foster Lake (one kilometre to the west of Nickel Lake), and recent drilling by Aurora at Nickel Lake has intersected numerous massive Ni-Cu-PGM sulphide occurrences from near surface to a depth of approximately 790 metres. Airborne electromagnetic survey (AeroTEM and MegaTEM systems) results indicate that the mineralization extends, intermittently, along the entire length of the Nickel Lake - Foster Lake corridor (1.4 kilometres). Inco's Nickel Lake Ni-Cu-PGM (WD-151) deposit lies approximately 250 metres southeast of the Nickel Lake Property.

Drilling on the Nickel Lake Project during 2003 - 2004 focused on following up the high-grade intersection reported from hole Ni-15 (see News Release dated February 12, 2003), in which a zone of massive sulphide, from surface to 17.87 metres, grading 1.69% nickel, 0.43% copper, 0.07% cobalt, 0.23 grams per tonne gold, 0.64 grams per tonne platinum and 0.88 grams per tonne palladium was intersected. Included within this intersection is a higher grade zone from 9.65 metres to 15.67 metres (6.02 metres) that gave a weighted average grade of 4.38% nickel, 0.93% copper, 0.16% cobalt, 0.55 grams per tonne platinum and 1.75 grams per tonne palladium.

The Nickel Lake Property lies 30 kilometres northwest of the city of Sudbury, Ontario, approximately 1.3 kilometres west-north-west of the North Range (Main Mass contact) of the Sudbury Igneous Complex. The property consists of five patented mining claims totaling 71 hectares. Under the terms of its agreement with Inco Limited, Aurora Platinum Corp. is entitled to earn a 60% interest in the Property by incurring exploration expenditures totaling $2,000,000 over a four year period. Aurora will earn its 60% interest this year.

Drill hole Ni-25 is currently being borehole surveyed and additional drilling is planned for May to help expand this discovery.

Quality Control

Aurora has implemented a quality control program to ensure best practice in the sampling and analysis of the drill core. Half of the drill core is sampled for analysis and the remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags for preparation at ALS Chemex in Mississauga, Ontario. Samples are dried, crushed and approximately 250 grams are pulverized to pass 75 microns. Pulps are then shipped to Chemex's laboratory in Vancouver, BC for analysis. This ISO 9001:2000 registered laboratory is preparing for ISO 17025 certification.

Silver, copper, lead, nickel and cobalt are digested in a partial extraction and analyzed by atomic absorption. For values greater than 10,000 parts per million, a total digestion with atomic absorption finish is undertaken. Gold, platinum and palladium are analyzed by fire assay with an ICP finish. Gravimetric analysis is done for values greater than 1,000 parts per billion.

In addition to ALS Chemex standard quality assurance procedures, Aurora submits field duplicates, blank samples, and analytical standards every one in 40 samples.

Aurora Platinum Corp. is actively exploring for Ni-Cu-PGM deposits in Ontario and Quebec. The Company has a Joint Venture with Falconbridge Limited in the Sudbury District (Foy and Footwall properties) and option/joint ventures with Inco Limited including the AEM Project in northwestern Ontario and the AEM Abitibi Project in eastern Ontario/western Quebec and the Nickel Lake Project in the Sudbury District. Aurora is also aggressively exploring a number of 100% owned properties in northwestern Ontario and in Quebec.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.