To sell Lake Carey, page-2

Proposed Sale of Lake Carey Project

AURORA GOLD LIMITED 2002-06-26 ASX-SIGNAL-G

HOMEX - Perth

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Aurora has determined to seek expressions of interest for the sale of
its wholly owned Fortitude prospect and adjacent tenement package
("Lake Carey Project") comprising 588sqkm at Lake Carey in the
Northeast Goldfields of Western Australia. The Lake Carey Project is
located some 80km south of Laverton in the southern part of the
Laverton Tectonic Zone, one of the most prospective gold belts in
Australia.

Aurora has recently completed a pre-feasibility study based on a
stand alone, fly-in, fly-out, mining and processing operation at
Fortitude and retains the option of proceeding to a full feasibility
should no offer to purchase be acceptable.

A preliminary Indicated and Inferred Mineral Resource for Fortitude
of 6.6 Mt at 2.3g/t Au to a depth of 225m at a 1.0g/t lower cutoff
was released in December 2000. Since that time ongoing work has
established an in pit recoverable resource of 3 Mt at 2.4g/t Au above
the same cutoff (220,000 oz Au). In addition the adjacent tenement
package hosts a number of exploration targets which have the
potential to increase the resource base. A massive sulphide
environment has been identified within the Lake Carey Project
tenements with encouraging copper, gold and silver intercepts at
Gallant and Bravado and local enhanced zinc values.

Aurora's decision to consider the sale of the Project reflects the
Company's present view that in the prevailing gold market conditions
the value to Aurora shareholders may be maximised by a sale.

Aurora has engaged Hartleys Limited to advise on the sale.

The information relating to Resources and Reserves has been compiled
by Mr P J Ball, (BSc) (Manager Technical Services) who is a
Corporate Member of the Australian Institute of Mining and Metallurgy
and has relevant experience in relation to the mineralisation being
reported on to qualify as a Competent Person as defined in the
Australasian Code for Reporting of Identified Mineral Resources and
Ore Reserves.

All resources quoted in this report were classified as Measured,
Indicated or Inferred according to proximity to composite
information, grade continuity established by variographical
assessment of composite data and geological continuity from the
interpretation. These methods of determination are in accordance with
JORC guidelines, based on an assessment of geology, drilling density
and gold continuity.

M L Jefferies
MANAGING DIRECTOR &
CHIEF EXECUTIVE OFFICER

For further details please contact:

Michael Jefferies
Aurora Gold Ltd
Telephone: (61 8) 9424 3500
Facsimile: (61 8) 9424 3565
email: [email protected]

Martin Pyle
Hartleys Limited
Telephone: (61 8) 9268 2777
Facsimile: (61 8) 9268 2727
email: [email protected]