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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	AEE
Latest Price:	0.21 (0.00%)
52-week High:	0.54
52-week Low:	0.16
Market Cap:	28.73M

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Aura Energy Full Aura Energy profile here

Aura Energy (ASX: AEE) is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company is focusing on two main projects: the Storsjön Project located in Sweden’s Alum Shale Province, one of the largest depositories of uranium in the world; and the highly prospective Reguibat Project in Mauritania.

Aura Energy’s main projects in Sweden are based on the Alum Shales, which have been historically known as one of the largest depositories of uranium in the world. Aura Energy has exploration permits and applications in three regions in west Africa: the Reguibat Craton in Mauritania, the Mauritanide Fold belt in Mauritania, and the Tim Mersoi Basin in Niger.

Aura Energy & GCM Resources joint venture progresses West African uranium plays

Tuesday, April 21, 2009

Aura Energy Ltd (ASX:AEE) is pleased to announce that together with GCM Resources plc (AIM:GCM) it has approved the first half 2009 programme and budget for their successful Africa uranium exploration Alliance.

The Aura-GCM Alliance was established in April 2007 to identify high-quality uranium targets within selected regions of Africa. Aura has a generative team with extensive experience of global project identification and acquisition. GCM has the project evaluation, financing and mining skills to progress the projects generated by the Alliance.

The Alliance has had an extremely successful first two years. It has already secured:

- Three granted exploration licences in Mauritania with near-surface calcrete-hosted uranium mineralisation over extensive areas demonstrated by sampling programmes
- A further 11 licence applications in Mauritania
- Three exploration permits applications in Niger cover 1500 km2 in the uranium-bearing Tim Mersoi Basin.
- The Alliance has assessed other opportunities in four further countries

The Alliance is managed by Aura. Funds are provided jointly by GCM and Aura in cash and in kind.
Aura presents project opportunities to the Alliance. Projects accepted by the Alliance commence as GCM – Aura Joint Ventures, initially sole funded by GCM. Aura has the right to participate in any Joint Venture with a minority (30% or 10%) interest, or Aura may elect to retain a 2% Net Smelter Royalty. Any project presented but not accepted by the Alliance may be taken up by Aura.
The Alliance will continue assessing opportunities in several western African nations.

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