ARU.V · 2020-05-08 12:00:00

Ancient ROAD IN Lidar Data

Exploration Programs

TSX

V: ARU

NR 20

AURANIA

IDENTIFIES

ANOTHER

POSSIBLE

ANCIENT ROAD IN LIDAR

DATA

Toronto, Ontario,

May

, 20

–

Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)

rankfurt

: 20Q) (“Aurania” or

the “Company”)

is pleased to report that

a possible road has been

identified

beneath deep jungle cover

LiDAR imagery

in the central part of the

Lost Cities

–

Cutucu

Project

(“Project”)

in southeastern Ecuador.

The feature that is interpreted as a

very old

road needs

to be

verified

and assessed

in the field

by a qualified and Ecuador

registered archeologist

as soon as

the

COVID

related restrictions are lifted in

the Project area

Aurania’s Chairman & CEO, Dr. Keith Barron

commented,

“LiDAR has provided us with a

powerful

tool to augment our exploration toolkit. We’re using the LiDAR in two princip

l areas: to refine our

geological targets for gold and copper

exploration

; and secon

dly, to identify

possible

remnants of

infrastructure

from Colonial Spanish times related to gold mining in the “lost cities” of Logro

o and

Sevilla. Along with the 2.5km road segment discovered by our field teams late last year,

currently

being

evaluated

by a registered

archeologist and the National Institute of Cultural Heritage of Ecuador

believe that

the

feature identified in the LiDAR

data

represents

infrastructure

related to that mining

activity

. However, this

LiDAR

interpretation

requires furthe

r verification

in the field.

We are making

good use of our time during the COVID

shutdown to take a very close look at our LiDAR data

and integrate it with our large geophysics and geochemistry databases.

”

etails of

the Possible Road

Segment

A “bare earth” image,

in which the jungle cover

response

has been

digitally

removed

shows a flat area

along a ridge

crest in the central part of the Project area. A footpath, which is currently used by the local

people, is

superimposed on the broader,

road

like feature that is u

p to 60

metres (“m”) wide

and

interpreted to be an engineered

structure

built by the

olonial Spanish

LiDAR imagery of the top of the

jungle canopy and SPOT satellite photography shows that the flat corridor is indistinguishable from the

surrounding jungle

–

it appears that it is completely tree

covered, which is consistent with this

being an

old

feature

Field work

by a

registered

archeologist

required to confirm that the feature is man

made,

and this will be prioritized when COVID

related restrictions are lifted in Ecuador.

Subsequent to the

archeologist’s investigation, the feature may require furth

er study by the National Institute of Cultural

Heritage of Ecuador.

The Company has prepared a draft

“B

ack to

ork

”

protocol for review by the Ministry of Energy and

Non

Renewable

Natural

Resources, to be implemented when COVID

related restrictions are li

fted in

the

Morona Santiago Province in which the Project lies

The detailed timing of a normalized work situation

is not yet clear.

gure 1.

LiDAR

"Bare Earth"

image

showing the road

like feature

, which is up to 60m wide,

and

the

superimposed footpath that is currently i

use by the local people

; b) the same

area

showing the

LiDAR image

of the jungle canopy

in which the road

like structure is imperceptible.

About LiDAR

LiDAR stands for

ight

etection

anging, and is a method by which

millions

pulses

of light are

directed downwards from an aircraft, in our case, a helicopter

flying about 500m above the ground.

The

pulses are reflected back to a detector, and instantaneous measurement

of the

distance travelled

result in

an image of the surface.

In dense jungle, the vast majority of the

reflections are

off the

vegetation,

but

some

pulses

get through to the

floor of the jungle

The

classification

of the data determines the

furthest reflection and assumes that

it was reflected

off the ground, to provide a “bare earth” image in

which it appears that the vegetation has been removed.

Our LiDAR survey of priority areas of the Lost

Cities

–

Cutucu Proje

ct has provided the first

ever view of the earth’s surface beneath the jungle cover,

pro

ducing

snapshot

of geological features

including layers in sedimentary rocks

The images show

fault systems spectacularly well

–

and these are important because the

y provide the plumbing system that

brings metal

bearing fluids from deep in the earth’s crust to environments in which ore deposits are likely

to form.

Most known

gold

deposits throughout the world are located adjacent to geological faults

–

hence

our foc

us on the

se structures

exploration.

Details of the LiDAR Survey

The survey was undertaken by MPX Geophysics Ltd of Ontario, Canada, with a helicopter and crew

contracted from Avioandes, of Quito

Ecuador.

The survey was flown at a mean terrain clearance of

500m, with an average line spacing of 250m, using 100% LiDAR swath overlap

Qualified Person

The technical information contained in this news release has been verified and approved by Jean

Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and

Qualified Person as defined by National Instrument 43

101, Standards of Disclosure for Mineral Projects

of the Canadian Securities Administrators.

The

technical information

pertain

ing to geophysical data and related interpretations in this news release

has been verified and approved by Jeremy S. Brett, M.Sc., P.Geo.,

an independent Senior Geophysical

Consultant with

MPH Consulting Limited. Mr. Brett is

a Professional Geoscientist registered in the

Province of Ontario and is a Qualified

erson as defined by National Instrument 43

101, Standards of

Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a

minera

exploration company engaged in the identification, evaluation, acquisition and

exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset,

The Lost Cities

–

Cutucu Project, is located in the Jurassic Metall

ogenic Belt in the eastern foothills of the

Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at

www.aurania.com

and

www.seda

r.com

, as

well as on Facebook at

https://www.facebook.com/auranialtd/

, Twitter at

https://twitter.com/auranialtd

and LinkedIn at

https://www.linkedin.com/company/aurania

resources

ltd

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367

3200

[email protected]

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367

3200

[email protected]

Neither the TSX Venture Exchange no

r its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward

Looking Statements

This news release may contain forward

looking inform

ation that involves substantial known and

unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward

looking

statements include estimates and statements that describe Aurania’s future plans, objectives or goals,

including wor

ds to the effect that Aurania or its management expects a stated condition or result to occur.

Forward

looking statements may be identified by such terms as “believes”, “anticipates”, “expects”,

“estimates”, “may”, “could”, “would”, “will”, or “plan”. Sinc

e forward

looking statements are based on

assumptions and address future events and conditions, by their very nature they involve inherent risks and

uncertainties. Although these statements are based on information currently available to Aurania, Aurania

rovides no assurance that actual results will meet management’s expectations. Risks, uncertainties and

other factors involved with forward

looking information could cause actual events, results, performance,

prospects and opportunities to differ materially

from those expressed or implied by such forward

looking

information. Forward looking information in this news release includes, but is not limited to, Aurania’s

objectives, goals or future plans, statements, exploration results, potential mineralization,

the

corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation

of mineral resources, exploration and mine development plans, timing of the commencement of

operations and estimates of market conditions. Factors t

hat could cause actual results to differ materially

from such forward

looking information include, but are not limited to, failure to identify mineral

resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasib

ility

study which recommends a production decision, the preliminary nature of metallurgical test results,

delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project

approvals, political risks, inability to f

ulfill the duty to accommodate indigenous peoples, uncertainties

relating to the availability and costs of financing needed in the future, changes in equity markets,

inflation, changes in exchange rates, fluctuations in commodity prices, delays in the deve

lopment of

projects, capital and operating costs varying significantly from estimates and the other risks involved in

the mineral exploration and development industry, and those risks set out in Aurania’s public documents

filed on SEDAR. Although Aurania b

elieves that the assumptions and factors used in preparing the

forward

looking information in this news release are reasonable, undue reliance should not be placed on

such information, which only applies as of the date of this news release, and no assuranc

e can be given

that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or

obligation to update or revise any forward

looking information, whether as a result of new information,

future events or otherwise, other

than as required by law.

← Back to feed