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Aurion Resources Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  120 Torbay Road, Suite 240
St. John's, NL
Canada A1A 2G8
Tel No.: 709-722-4128
Fax No.: 709-722-4129
Web Site: www.aurionresources.com
E-mail: info@aurionresources.ca
Contact Person: Mark Santarossa
Position: VP Corporate Development


Company Data

Traded Market: TSX-V
Traded Symbol: AU
Outstanding Shares: 117.5 M
Public Float: ~88 M
52 Week High: $ 1.36
52 Week Low: $ 0.65
Present Price: Click Here


Introduction

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Aurion Resources is a well-financed, Canadian exploration company. Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by its experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.

Investment Highlights

  • Discovering the next major gold camp
  • High-Grade – Numerous drill intercepts grading better than 5 g/t Au within 150 m of surface
  • Exceptional Footprint – Over 8,500 boulder and outcrop samples averaging 6 g/t Au
  • District Scale – interests in ~1,000 sq. km of land in the highly prospective Central Lapland Greenstone Belt in northern Finland
  • Favourable Jurisdiction for Mining Investment – Fraser Institute Ranks Finland Top 10 Worldwide
  • Attractive to Major Gold Companies – Kinross Gold, Newmont, and B2Gold have interests
  • Cheap Relative Valuation
  • Market Cap: ~C$119.9 M (As of Feb. 25, 2022)
  • Well-Funded:
    • Working Capital ~C$10.7 M as of September 30, 2021
    • Closed C$16.7 M financing on Nov. 25, 2021


PROJECTS IN FINLAND

Risti Project

  • 160 sq. km project area
  • 10+ new discoveries since 2015
  • Extensive footprint – 6,200+ surface samples averaging 6.65 g/t Au over 15 km by 8 km
  • Aamurusko high-grade discovery – 90 intercepts >5.0 g/t Au

Drilling Highlights from Risti (Aamurusko)

  • Hole AM18042: 789.1 g/t Au over 2.9 m (Aamurusko Main)
  • Hole AM18082: 42.3 g/t Au over 4.0 m (Aamurusko Main)
  • Hole AM19095: 9.42 g/t Au over 28.22 m (Aamurusko NW)
  • Hole AM19106: 23.41 g/t Au over 11.10 m (Aamurusko NW)

Aamurusko – Multiple Targets for Expansion

  • 80% of holes intersected over 1.0 g/t Au
  • 51% of holes intersected over 3.0 g/t Au
  • 31% of holes intersected over 10.0 g/t Au

Launi Project

  • 140 sq. km project area
  • No exploration prior 2019
  • Several gold discoveries
  • 2,300+ surface samples averaging 4.20 g/t Au over 5.5 km by 1 km

Highlights from Launi

  • Hole LN20050: 3.05 g/t Au over 5.30 m (Hinge Zone)
  • Hole LN20014: 63.90 g/t Au over 0.37 m (Christmas Deformation Zone)
  • Channel sample: 27.01 g/t Au over 1.77 m (Christmas Deformation Zone)
  • Channel sample: 14.76 g/t Au over 2.95 m (Christmas Deformation Zone)

Risti & Launi – Regional Potential

  • Tens of kms of prospective structural trends to be explored.
  • A number of gold in till anomalies identified in previously unexplored areas.
  • Gold in till anomalies encountered within several geologic settings including volcanic, sedimentary and intrusion related domains.
  • Base of till sampling and geophysical surveys behind most significant discoveries (Kittilä Mine, Sakatti, Ikkari) in Central Lapland Greenstone Belt.

B2Gold Joint Venture

Multiple discoveries

  • Large land package ~384 sq. km
  • Multiple gold prospects
  • JV: B2Gold 70%, Aurion 30%
  • The preliminary budget for 2022 is approximately $10-million and includes approximately 12,000 m of drilling. The JV will also continue to perform geophysical surveys and base of till sampling programs that have been successfully used to generate drill targets.
  • Focus on Kutuvuoma-Ikkari corridor

Helmi Discovery:

  • New discovery located ~1 km west of Rupert Resources' 3.95 Moz Ikkari discovery with similar geological features
  • Maiden drill program completed, 20 holes, 5,201.5 m
  • 17/20 holes intersected gold mineralization along 1.3 km strike including intercepts:
    • 1.84 g/t Au over 52.40 m
    • 1.73 g/t Au over 44.95 m
    • 1.11 g/t Au over 45.80 m
    • 1.42 g/t Au over 30.70 m
    • 1.42 g/t Au over 30.60 m
    • 1.46 g/t Au over 28.70 m
    • 11.39 g/t Au over 2.04 m
    • 18.00 g/t Au over 1.40 m (See news release dated February 23, 2022)
  • Prospective geological sequence extends 8 km within the JV property

Kutuvuoma East: New discovery between Ikkari and Kutuvuoma

Sinermä: Recent discovery ~22 km northwest of Kutuvuoma

Kinross Joint Venture

Aurion has signed a formal definitive option agreement with Kinross Gold Corporation, granting Kinross the right to earn up to an undivided 70% interest in the 54.35 sq. km, Silaskaira Property, which is located adjacent to the Silasselkä Vanadium project, currently under option (see press release dated June 17, 2020) to Strategic Resources Inc. (Aurion holds a ~16% equity interest in Strategic), and approximately 28 km northwest of Agnico-Eagle's Kittilä Mine.

The Silaskaira Property is located on the potential northern extension of the Hanhimaa Shear Zone, which hosts several gold occurrences currently being explored by Agnico-Eagle Mines and S2 Resources. (See news release dated Nov. 8, 2021)

Value from Multiple Opportunities

Risti and Launi

  • 100% ownership
  • High-grade, near surface discoveries
  • Multiple gold prospects

B2Gold Joint Venture

  • Helmi discovery
  • Multiple gold prospects
  • Next to the Ikkari discovery by Rupert Resources

Kinross Joint Venture

  • Located on the northern extension of Hanhimaa Shear
  • Numerous gold showings

Strategic Resources

  • Aurion holds a ~16% equity interest in Strategic
  • Vanadium development projects
  • Part of Lumina Group


Management

Management and Directors

David Lotan, CPA, CA, Chairman

President of LHI, an investment company focused on natural resource opportunities

Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution

Portfolio manager for the Ontario Teachers' Pension Plan

Matti Talikka, M.Sc., FAusIMM(CP)Geo., Chief Executive Officer and Director

Various global positions at Outotec most recently as Director Geometallurgy and Project Evaluation

Former General Manager Exploration at Dragon Mining focusing on exploration and project development in Finland and Sweden

Non-executive director of Aurion since 2015, appointed as CEO in July 2020

Mark Serdan, CPA, CA, CFA, Chief Financial Officer

Over 20-year career in investment management and banking

Recipient of multiple Lipper awards for investment performance in precious metals, energy and natural resources

Mark Santarossa, CPA, CA, MBA, VP Corporate Development

Over 15-year career in mining capital markets in various roles, including mining equity research, institutional equity sales and investment banking

Kerry E. Sparkes, M.Sc., P.Geo., Director

Over 30 years of experience in the minerals industry as an exploration geologist and an executive

Explored for, delineated and developed two major Canadian gold deposits, both of which were subject of takeovers

Currently the Vice President of Geology for Franco-Nevada


News Update

On November 07, 2022, Aurion Resources Ltd. announced the reports results for eleven holes from the summer-fall 2022 drilling program on the Aurion-B2Gold Corp. (TSX: BTO) ("B2Gold") Joint Venture ("JV"), operated by B2Gold, in the Central Lapland Greenstone Belt in northern Finland. Summary:

  • New gold intercepts along 1 km strike length of the structural corridor west of Helmi
    • 1.78 g/t Au over 15.10 m from 103.65 m (IKK22040)
    • 52.50 g/t Au over 0.55 m from 91.80 m (KUE22023)
    • 10/11 holes intersected gold mineralization along 1 km strike length of the structural corridor
  • Half of 11,000 m drilling program completed
    • Approximately 11,000 m of drilling planned for the second half of 2022
    • Drilling planned to test the extent of the mineralized trend at Helmi and regional targets

    Comments: "The mineralized system at Helmi is expanding towards the west. Recent step out drill holes returned several gold intercepts along approximately 1 km strike length to the west of the Helmi Main zone. Gold mineralized intervals have now been intersected along 2 km strike length of the structural corridor that extends 8 km between the Helmi and Kutuvuoma occurrences." Commented Aurion's CEO, Matti Talikka. "We expect further results from the ongoing 11,000 m drilling program, of which half has been completed, to be available later this year and early next year."

    On September 12, 2022, Aurion Resources Ltd. reported the results for the first three holes from the summer-fall 2022 drilling program at the Helmi Discovery on the Aurion-B2Gold Corp. (TSX: BTO) ("B2Gold") Joint Venture ("JV"), operated by B2Gold, in the Central Lapland Greenstone Belt in northern Finland. Summary:

    • New gold intercepts at the Helmi Discovery include:
      • 0.82 g/t Au over 108.10 m from 286.30 m, including 1.55 g/t Au over 16.00 m (IKK22038)
      • 1.10 g/t Au over 35.20 m from 495.10 m (IKK22038)
      • 1.29 g/t Au over 22.15 m from 258.75 m (IKK22036)
    • Mineralization extends to at least 500 m depth from surface
      • The mineralization remains open along strike and at depth
    • 11,000 m drilling program ongoing
      • Approximately 11,000 m of drilling planned for second half of 2022
      • Drilling ongoing with two rigs; one focusing on the Helmi area and one testing regional targets

    On August 08, 2022, Aurion Resources Ltd. has agreed with Tertiary Minerals PLC to acquire and cancel royalties on the Kaaresselka (Risti, 100 per cent Aurion) and Kiekeromaa (B2Gold JV (joint venture)) gold prospects for a total consideration of $200,000 and 83,333 Aurion common shares.

    • Acquisition and cancellation of royalties on Kaaresselka (Risti, 100 per cent Aurion) and Kiekeromaa (B2Gold JV) gold prospects, consisting of:
      • A preproduction royalty on definition of a National Instrument (NI) 43-101 (or equivalent) Code compliant minerals resource estimate on either project, with $1 (U.S.), $2 (U.S.), $3 (U.S.) payable per ounce gold in the inferred, indicated or measured mineral resource categories respectively;
      • A net smelter returns royalty (NSR) of 2 per cent on all future gold production from either property.
    • Total consideration to be paid on closing:
      • $200,000 in cash and 83,333 Aurion common shares.

    On July 28, 2022, On closing of the agreement, Aurion will issue 83,333 common shares to Tertiary. The consideration shares will be subject to a statutory four-month-and-one-day hold period from closing. The agreement is subject to acceptance by the TSX Venture Exchange.

    Aurion Resources Ltd. has released results for the final 12 holes from the winter 2022 drilling program, including six drilled at the Helmi discovery and six scout holes testing selected regional targets on the Aurion Resources/B2Gold Corp. joint venture, operated by B2Gold, in the Central Lapland greenstone belt in northern Finland.

    Summary:

    • New gold intercepts at the Helmi discovery include:
      • 1.46 grams per tonne gold over 33.00 metres from 175.00 metres and 2.11 grams per tonne gold over 21.70 metres from 216.00 metres (IKK22034);
      • 1.40 grams per tonne gold over 9.75 metres from 147.25 metres and 2.82 grams per tonne gold over 4.80 metres from 184.35 metres (IKK22033);
      • Mineralization extended along strike to the west, up dip and down dip;
      • Significant gold mineralization encountered in mafic-ultramafic and sedimentary rocks across the domain boundary;
    • Scout drilling intersects new zones of gold mineralization:
      • 5.70 grams per tonne gold over 2.00 metres from 20.10 metres (KUE22017);
      • 1.64 grams per tonne gold over 5.20 metres from 192.80 metres (KUE22013);
      • New zones of gold mineralization located 950 metres to 1,250 metres west-northwest of the Helmi discovery;
    • $3.5-million increase to joint venture exploration budget for 2022; total budget at $13.5-million:
      • A total of 17,000 metres of drilling (inclusive 6,552.40 metres drilled) planned for 2022;
    • Summer drilling program continuing.

    On June 13, 2022, Aurion Resources Ltd. has released results for 14 holes from the winter 2022 drilling program, including nine drilled at the Helmi discovery and five scout holes testing selected regional targets on the Aurion-B2Gold Corp. joint venture (JV) in the central Lapland greenstone belt in northern Finland.

    Summary:

    • New gold intercepts at the Helmi discovery include:
      • 2.44 grams per tonne (g/t) gold (Au) over 43.45 metres (m) from 151.95 m (IKK22029);
      • 1.44 g/t Au over 67.20 m from 166.00 m (IKK22030);
      • 1.46 g/t Au over 39.00 m from 137.50 m (IKK22025);
      • 1.57 g/t Au over 31.85 m from 119.00 and 2.05 g/t Au over 18.30 m from 174.90 m (IKK22024);
      • Mineralization extended along strike to the west and updip and downdip.
    • Scout drilling intersects high-grade gold mineralization:
      • 39.40 g/t Au over 1.40 m from 64.30 m (KUE22011);
      • New zone of gold mineralization located 900 m northwest of the Helmi discovery;
    • Assays pending for 12 holes:
      • Winter drilling program, 29 holes totalling 6,552.40 m, targeted the extensions of the Helmi discovery along strike and at depth and selected new geophysical and geochemical targets.
    • Summer drilling program commenced.

    On June 10, 2022, Strategic Resources Inc. has issued 1,166,666 common shares to Aurion Resources Ltd., which fulfills the requirements to earn 100-per-cent ownership in the Silasselka property. The issuance increases Aurion's ownership from 16.0-per-cent to 18.3-per-cent ownership of Strategic Resources.

    On June 08, 2022, The TSX Venture Exchange has accepted for filing a sale and purchase agreement dated May 16, 2022, between the company and S2 Resources Ltd. (Mark Bennett, Jeff Downing, Anna Neuling, Matthew Keane, John Bartlett and Andy Thompson), whereby the company has acquired a 100-per-cent recorded and beneficial interest in and to an exploration permit known as the Keulakkopaa property, situated in the Central Lapland greenstone belt, Finland.

    On May 19, 2022, Aurion Resources Ltd. has entered into an agreement with Sakumpu Exploration OY, a 100-per-cent-held subsidiary of Australian Securities Exchange listed S2 Resources, to acquire the Keulakkopaa exploration permit in the Central Lapland greenstone belt in Finland.

    The Keulakkopaa permit comprises two separate areas totaling 6.4 km2 and is located approximately halfway between Aurion's Aamurusko Discovery and Rupert Resources' 3.95 Moz Ikkari Deposit.

    On May 04, 2022, Aurion Resources Ltd. reports results for the first three holes from the winter 2022 drilling program at the Helmi discovery on the Aurion-B2Gold Corp. joint venture in the Central Lapland greenstone belt in northern Finland.

    Summary

    • Further gold intercepts at the Helmi discovery;
      • 2.05 grams per tonne gold over 77.50 metres from 41.70 m (IKK22018), including:
        • 4.18 g/t Au over 24.55 m from 81.90 m;
      • 1.42 g/t Au over 15.90 m from 175.50 m (IKK22019), including:
        • -2.13 g/t Au over 6.35 m from 175.50 m;
    • 29 holes (6,549.70 m) drilled at Helmi and nearby targets during the 2022 winter drilling program, assays for 26 holes pending;
      • Drilling program targeted the extensions of the Helmi discovery along strike and at depth and selected new geophysical and geochemical targets.

    On February 23, 2022, Aurion Resources reported results for remaining 7 holes drilled at the Helmi Discovery on the Aurion-B2Gold Corp. Joint Venture in Finland.

    • New gold intercepts at the Helmi Discovery include:
      • 1.11 g/t Au over 45.80 m
      • 11.39 g/t Au over 2.04 m
      • 18.00 g/t Au over 1.40 m
    • Maiden drill program identified broad zones of near surface gold mineralization over 1.3 km strike length
    • Winter drilling campaign commenced


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