Aur Resources Inc. Terminates Agreement to Purchase 50Percent of the Zaldivar Copper Mine from...

TORONTO--(BUSINESS WIRE)--Feb. 1, 1999--Aur Resources Inc. (TSE:AUR.) ("Aur") announces that it has terminated its agreement in principle with Outokumpu Base Metals Oy ("Outokumpu") to purchase from Outokumpu its 50 percent interest in the Zaldivar copper mine in Chile.

Aur determined

that the amount and restrictive terms of the available bank debt, together with the substantial equity dilution required under current market conditions to finance the balance of the purchase price, would result in a transaction which would not be in the best interest of Aur shareholders.

Aur will continue its search for quality acquisitions and remains confident that acquisitions which will add value for the shareholders will be made in the future. In the meantime, Aur will continue to operate its low cost, highly efficient Louvicourt and Andacollo mines and conduct its exploration efforts to discover new copper and gold deposits. Aur remains debt free with working capital at Dec. 31, 1998, of approximately $86 million.