Aurania Announces Completion of the Sale of Its Peruvian Subsidiary to Palamina Corp
TSX-V: ARU
NR 2024-18
AURANIA ANNOUNCES COMPLETION OF THE SALE OF ITS PERUVIAN SUBSIDIARY
TO PALAMINA CORP
Toronto, Ontario, September 23 , 2024 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) announces that Palamina Corp. (TSXV: PA, OTCQB:
PLMNF) has completed the acquisition of 100% of the shares of Aurania’s Peruvian Subsidiary, Sociedad
Minera Vicus Exploraciones S.A.C. (“Vicus”), as anticipated in the press release dated June 10, 2024.
Aurania received 350,000 common shares of Palamina Corp. and was granted a 1% Net Smelter Return
(“NSR”) royalty as full payment for the purchase of Vicus. Palamina has the option to buy back half of the
NSR for $1,000,000 at any time.
Palamina’s Pluma copper silver project is the only asset held in Vicus. It covers 9,800 hectares in
northeastern Peru and Palamina S.A.C. intends to transfer its Sora, Volcano and Galena copper silver
projects into Vicus.
About Palamina Corp.
Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in
southeastern Peru. Palamina is adding value through drill discovery at its Usicayos gold project. Palamina
also has an “acquire and hold” strategy with copper silver assets in southeastern and northeastern Peru.
Palamina holds a 15.4% equity interest in Winshear Gold Corp. (WINS:TSX.V) and a 2% NSR royalty
on all their projects. Winshear plans to conduct an inaugural drill program at their Gaban Gold Project in
2024. Palamina has 71,284,836 shares outstanding and trades on the TSX Venture Exchange under the
symbol PA and on the OTCQB Venture Market under the symbol PLMNF.
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 www.aurania.com and www.sedarplus.ca, 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 Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
Neither the TSX Venture Exchange nor 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.
Cautionary Statement Regarding Forward -Looking Information:
This news release contains forward -looking information as such term is defined in applicable securities
laws, which relate to future events or future performance and reflect management's current expectations
and assumptions. The forward-looking information includes statements about the share purchase
agreement with Palamina Corp., the completion of the sale and purchase, and any expectations related to
the development of Aurania’s properties and Aurania’s mining operations. Such forward-looking
statements reflect management's current beliefs and are based on assumptions made by and information
currently available to Aurania, including the assumption that there will be no material adverse change in
copper and precious metal prices, and that all necessary consents, licenses, permits and approvals will be
obtained, including various local government licenses. Investors are cautioned that these forward-looking
statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause
future results to differ materially from those expected. Risk factors that could cause actual results to differ
materially from the results expressed or implied by the forward-looking information include, among other
things, any failures to obtain or delays in obtaining required regulatory licenses, permits, approvals and
consents, an inability to access financing as needed, a general economic downturn, a volatile stock price,
labour strikes, political unrest, changes in the mining regulatory regime govern ing Aurania, and a failure
to comply with environmental regulations. Aurania cautions the reader that the above list of risk factors is
not exhaustive.