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Aur Resources 1Q net earnings up 23% on higher copper output, prices

Aur Resources Inc.'s (AUR.T) first-quarter earnings rose to $57.8 million or 59 cents a share from $46.8 million or 48 cents a year earlier, reflecting increased copper production and high copper prices.

The Thomson First Call mean earning estimate was for 53 cents a share.

Revenue rose to $156.4 million on production of 57.4 million pounds of copper from the Andacollo and Quebrada Blanca Mines in Chile from $135.1 million on output of 55.1 million pounds a year earlier.

"Aur expects that the combination of record copper production and continued strong copper prices in 2007 will result in another excellent year for the Company," said Jim Gill, Aur's President and CEO. "Aur shareholders will also benefit from a 100% increase in scheduled copper production over the next 3 years resulting from the new Duck Pond Mine (Newfoundland), which began operations in January, and from its Andacollo Hypogene copper-gold deposit currently being developed for production commencing in late 2009."

The Duck Pond Mine produced approximately 3.7 million pounds of copper and 8.7 million pounds of zinc in the first quarter, however, as commercial production was not declared until April 1, 2007, all expenses were capitalized and no mining revenue was recognized.

Aur is a Toronto-based mining company.