Aurania Announces Positive Mapping Results at Tatasham & Awacha Porphyry Targets IN Ecuador
TSX-V: ARU
NR 2022-19
AURANIA ANNOUNCES POSITIVE MAPPING RESULTS AT TATASHAM & AWACHA
PORPHYRY TARGETS IN ECUADOR
Toronto, Ontario, September 26, 2022 – Aurania Resources Ltd. (TSXV: ARU ; OTCQB: AUIAF;
Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to announce that an intensive “Anaconda
method” mapping program (see press release dated August 8, 2022) at the Company’s Tatasham target has
discovered highly prospective porphyritic felsic intrusive rock, and at the Awacha target area, mapping has
confirmed diorite and other intrusive rocks, with local hydrothermal breccias. The intrusives are crosscut
by several generations of quartz veinlets locally containing chalcopyrite and galena (see Figures 1 and 2).
These results are considered positive indications of porphyry-style mineralization at both localities.
Tatasham and Awacha are contained in Aurania’s large, 207,764-hectare concession block in southeastern
Ecuador, located immediately north of the highly productive mineralized belt containing Solaris Resources’
Warintza and SolGold’s Porvenir porphyry copper deposits, as well as operating mines at Mirador (copper)
and Fruta del Norte (gold).
The mapping program at Tatasham has been completed and is currently underway at Awacha. This work
is being carried out ahead of a drilling campaign which is anticipated to commence in the last quarter of
2022.
The Tatasham target is a blind geophysical target with no previously recognized alteration or mineralization
at surface. The 3-kilometre (km) x 1 km target is both a magnetic and resistivity high, flanked by conductive
anomalies, that are speculated to represent a mixed magnetite skarn and porphyry cluster.
The Awacha target area comprises a cluster of geophysical anomalies representing porphyry targets located
in an area approximately 9 km x 6 km in size. These targets are covered by post-mineral sedimentary rock.
Where streams have cut down through these sediments, they have exposed the classic phyllic alteration
envelope (quartz-sericite-pyrite alteration) which typically accompanies copper mineralization. Low levels
of copper and molybdenum have been returned in analyses of stream sediments in this area, as well as
copper in soils (see press release dated April 19, 2022).
Figure 1: Quartz diorite porphyry from Tatasham
Figure 2: Hydrothermal breccia exposure at Awacha
Amendment to Option Terms
An amendment was made to the vesting period of the stock options granted to SRC Swiss Resource Capital
AG (“SRC”), the details of which were announced in a press release dated August 18, 2022 . The 35,000
stock options granted to SRC at a price of $0.84 CAD, will vest in quarters with ¼ vesting three months
from the date of grant, ¼ vesting six months from the date of grant, ¼ vesting at the one-year anniversary
from the date of grant, and ¼ vesting at the two-year anniversary from the date of grant . All other terms
remain unchanged.
Qualified Person
The geological information contained in this news release has been verified and approved by Jean- Paul
Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified
Person as defined by National Instrument 43 -101, Standards of Disclosure for Mineral Projects of the
Canadian Securities Administrators.
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.sedar.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
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-
V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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: Investor Relations Activities
(as such term is defined in the policies of the TSX Venture Exchange) to be performed by SRC and the
anticipated approval of the TSX -V for said activities, 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, timing of the
commencement of operations and estimates of market conditions. 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 metal prices, all
necessary consents, licenses, permits and approvals will be obtained, including various local government
licenses and the market. 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 dif fer materially from the results
expressed or implied by the forward-looking information include, among other things, a failure to obtain or
delays in obtaining the 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 governing Aurania, a failure to comply with environmental
regulations and a weakening of market and industry reliance on precious metals and copper. Aurania
cautions the reader that the above list of risk factors is not exhaustive.