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To: robnhood who wrote (124105)	7/18/2008 10:20:40 PM
From: Rocket Red	Respond to of 314136

could be into 2009 for aru Aurelian awaits final draft mining law for Ecuador 2008-07-18 09:18 ET - News Release Shares issued 137,189,160 ARU Close 2008-07-17 C$ 4.50 Mr. Patrick Anderson reports AURELIAN UPDATE ON ECUADORIAN MINING LAW AND POLITICAL PROCESS Aurelian Resources Inc. has provided an update regarding Ecuador's draft mining law and expected political milestones over the coming months in response to shareholder requests. On June 27, 2008, the Ministry of Mines and Petroleum (MMP) announced completion of work on a draft law. Preparation of the draft legislation involved an extensive consultation process with stakeholders such as communities, local governments, NGOs and mining companies, including Aurelian. The draft law was sent on the same day to President Rafael Correa, who is reviewing the document with his advisers. No update has been provided by the government as to when the final version of the draft law will be made public. "An earlier version of the draft law posted on the MMP website was reasonable," said Patrick F.N. Anderson, president and chief executive officer. "We are confident that President Correa wants to see a responsible mining industry in Ecuador." The potential passage of the new mining law would be part of a very full political calendar in Ecuador for the next year, including the following milestones as reported in the media: The new president of the assembly, Fernando Cordero, stated that the assembly will complete its work on July 25 and will deliver the proposed constitution to the supreme electoral council. At this time the assembly is to be dissolved and will probably be replaced by an interim legislative body, although details are still being debated regarding its start date, duration, composition and legislative powers. Ecuadorean media have reported that the date for the referendum will be announced on Aug. 21, and that this date will most likely be Oct. 5 with final results to be published on Oct. 21. Ecuadorean media have reported that the dates for general elections will be announced on Nov. 6, followed by candidate inscriptions on Dec. 10, elections on Feb. 8, 2009, and results on March 10, 2009. If necessitated by a vote of less than 40 per cent for the leading presidential candidate, the second round of presidential elections will occur on March 22, 2009, with final results on April 11, 2009. The newly elected legislative body will take office on April 26, 2009, and the new president will take office on May 3, 2009. All of these dates are projections made in Ecuadorean media. The official dates will be published by the relevant authorities. Aurelian is hopeful that there will be space within this tight agenda for processing of the new mining law and will issue further updates when more precise information becomes available. We seek Safe Harbor.