Aurora Board Recommends Acceptance of Fronteer Offer

    ST. JOHN'S, Feb. 20 /CNW/ - Aurora Energy Resources Inc. ("Aurora" or the
"Company") (AXU:TSX) announced today that its Board of Directors has issued a
Notice of Change to Directors' Circular in respect of the offer (the "Fronteer
Offer") by Fronteer Development Group Inc. ("Fronteer") to acquire all of the
common shares of Aurora that it does not already own on the basis of 0.825 of
a Fronteer common share for each Aurora common share. The Notice of Change to
Directors' Circular will be mailed to shareholders and will be available on
    On February 5, 2009, the Board decided they would defer making a
recommendation to Shareholders with respect to the Fronteer Offer. At that
time, the Special Committee was engaging in discussions with third parties to
solicit other offers for Aurora or its assets or other transactions involving
Aurora. The Board did not believe that it was in a position at that time to
make a recommendation with respect to the Fronteer Offer until these
discussions had concluded. Accordingly, a Directors' Circular dated February
6, 2009 was mailed to shareholders and filed on that summarized
the situation at that time but set out no recommendation from the Board.
    Discussions between third parties and the Special Committee have
terminated without an alternative to the Fronteer Offer emerging. The Board of
Directors is now recommending (with all attending members of the Board voting
in favour) that Aurora shareholders accept the Fronteer Offer and deposit
their Aurora common shares to the Fronteer Offer. Aurora shareholders should
read carefully the reasons for this recommendation contained in the Notice of
Change, together with the other information contained in the Notice of Change
and the Directors' Circular, before deciding whether or not they will deposit
their common shares to the Fronteer Offer.
    The Special Committee of the Aurora Board of Directors has retained
National Bank Financial Inc. as its financial advisor to advise it with
respect to the Fronteer Offer. National Bank Financial Inc. has delivered to
the Special Committee and Board of Directors its opinion that, based upon and
subject to the considerations, assumptions and limitations described therein,
as of February 20, 2009 the consideration offered pursuant to the Fronteer
Offer is fair, from a financial point of view, to Aurora shareholders other
than Fronteer.
    The Fronteer Offer will be open for acceptance until 8:00 p.m. (Toronto
time) on March 2, 2009, unless extended or withdrawn. Reference is made to
Fronteer's take-over bid circular dated January 23, 2009, which accompanies
the Fronteer Offer, for details of additional terms and conditions of the
Fronteer Offer.


    Aurora is a uranium exploration and development company active in the
Central Mineral Belt of coastal Labrador - one of the world's most promising
uranium districts - and in Nunavut, Canada, where it has acquired an interest
in the Baker Lake Basin property.
    Aurora has no debt and approximately C$99 million in cash that is fully
liquid and held with a large Canadian commercial bank.
    Aurora is committed to responsible development, which includes community
consultation, lasting local benefits and the highest standards of safety,
health, and environmental protection.

    Except for the statements of historical fact contained herein, certain
information presented constitutes "forward-looking statements". Such
forward-looking statements, including but not limited to the Fronteer Offer,
any possible alternative transaction, the timing and level of exploration
activities, including drilling activities, the timing of completion of a
pre-feasibility study and anticipated results of the 2008 work program;
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievement of Aurora to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others, risks related to the Fronteer Offer not being completed, the
terms of the Fronteer Offer, the terms of any alternative transaction, the
actual results of current exploration activities, conclusions of economic
evaluations, uncertainty in the estimation of mineral resources, changes in
project parameters as plans continue to be refined, future prices of uranium,
economic and political stability in Canada, environmental risks and hazards,
increased infrastructure and/or operating costs, labor and employment matters,
and government regulation as well as those factors discussed in the section
entitled "Risk Factors" in Aurora's Annual Information Form on file with the
Canadian Securities Commissions. Although Aurora has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate as actual results and future events could differ materially from
those anticipated in such statements. Aurora disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
law. Accordingly, readers should not place undue reliance on forward-looking

For further information:

For further information: Bruce Dumville, President & CEO, (709)

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