Aurania Provides Update On Activities And Grants Stock Options In Lieu Of Fees To Directors


(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - September 30, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") provides an update on the Company's activities and announces that its directors received their quarterly director fees in the form of stock options in lieu of cash for the period ended September 30th.

Ecuador
At the Company's Kuri-Yawi Gold target, preparation is underway for an induced polarization (IP) geophysical survey. The geophysical company has been selected and the survey is expected to commence in the latter half of October. The survey should take approximately one month to complete after which data review will commence. The purpose of the survey is to identify drill targets at Kuri-Yawi.

The Anaconda mapping program at the Company's Awacha porphyry copper target area is now complete. This was a necessary step to start the interpretation of the data to define the targets for future drill campaigns at Awacha. During this field program, new intrusive outcrops with typical porphyry alteration were found, some of them showing quartz veins with the presence of pyrite, chalcopyrite and covellite. A team of geologists will work on analyzing and interpreting the data from the Anaconda mapping program.

Aurania's Community Social Responsibility (CSR) team continues to work with local communities in Ecuador to advance various social programs and initiatives within the areas of the Company's key targets, strengthening the bonds with the communities. Most recently, our team along with the Step Forward Foundation celebrated the opening of a new school in the community of Chikichikentsa near the Company's Awacha porphyry copper target. Aurania's CEO & President, Dr. Keith Barron was there for the ribbon cutting ceremony. Aurania would like to thank everyone involved in this very important project. See the image below.


Aurania Provides Update On Activities And Grants Stock Options In Lieu Of Fees To Directors Image

Image Description: the official opening of a new school in the community of Chikichikentsa, Ecuador.

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France
The Company applied for a 51km2 exploration permit immediately in the vicinity of a major shear zone called South Armorican Shear (cisaillement sud-armoricain) in the Brittany Peninsula of northwestern France through a wholly owned French subsidiary. The concession area has historically been the site of significant high-grade gold finds. Placer gold in streams is present in the vicinity of the area. Aurania's geologists have visited the area and found numerous blocks of quartz and evidence of past mining activity. The Swiss challenge and the first public consultation phases planned in the permit application process have now been completed. The permit applications are progressing, and further updates will be provided as information becomes available.

Conferences and Events

Swiss Mining Institute (SMI)
Aurania will be attending the Swiss Mining Institute conference taking place at the Dolder Grand in Zurich, Switzerland on November 20 and 21st.

Deutsche Goldmesse (German Gold Show)
Aurania will be attending Deutsche Goldmesse on Friday, November 22nd at the Westin Grand in Frankfurt, Germany. Dr. Keith Barron will be presenting at this event.

Director Options in Lieu of Fees
Directors (the " Optionees ") of the Company have agreed to receive their quarterly director fees for 2024 in the form of stock options in lieu of cash. On September 30, 2024, each director was granted 10,500 stock options at an exercise price of $0.54. An aggregate of 42,000 stock options were granted to directors in lieu of their director fees for the third financial quarter of 2024.

All such options will be exercisable for a period of three years from the date of grant and vested immediately upon grant. In the event an Optionee intends to exercise such Options, such Optionee shall be solely responsible for paying the entirety of the exercise price.

About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at and , as well as on Facebook at , Twitter at , and LinkedIn at .

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