Aurania Commissions Environmental Impact Study IN Corsica
TSX-V: ARU
NR 2025-02
AURANIA COMMISSIONS ENVIRONMENTAL IMPACT STUDY IN CORSICA
Toronto, Ontario, January 29, 2025 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) announces that its subsidiary company, Corsica
Ressources, has commissioned a French environmental engineering firm to undertake an environmental
impact study at Nonza and Albo beach es in Corsica. The study commenced in early January by a
bibliographic review, currently in progress.
The impact study is one part of the nickel beach placer project at the Nonza and Albo beaches. The goal of
the study is to assess the terrestrial and marine environments of the beaches, identify any potential impact
of the Company’s proposed activities, and identify and propose solutions to eliminate or mitigate them if
necessary. Corsica Ressources is keen to develop this project whilst ensuring appropriate measures are
taken to preserve the original status of the environment and the local population. This objective is facilitated
by the unique nature of the beaches themselves.
During the operation of the Canari mine (1948-1965) , waste rock was discharged into the sea. Over time,
this material migrated to the areas of Albo and Nonza, resulting in a globally unique situation.
Albo and Nonza beaches are artificially created beaches composed of serpentinite debris and black sand,
which contain high concentrations of magnetite and awaruite. Awaruite (Ni₃Fe) is a nickel -rich magnetic
mineral found in meteorites and certain serpentinite formations. See link to October 3, 2024 press release
announcing the opportunity/discovery of the nickel-r ich beach sands.
Aurania’s Chairman, CEO, and President, Dr. Keith Barron, commented, “Europe needs responsible
sources of key metals for its energy transition. Corsica can play a vital role in this transition without
compromising its environment or identity. This innovative project, extracting nickel without chemicals, not
only preserves t he beauty of the beaches in Corsica but also ensures that local communities benefit
economically. Aurania and its subsidiary, Corsica Ressources are fully committed to a development model
that respects both nature and the people who depend on it.”
Figure 1: The beaches are composed mainly of serpentinite in the form of pebbles, gravel and sand
(left photo). The magnetic fraction of the sand from Albo and Nonza contains awaruite, a high-grade
nickel-containing mineral (right photo).
Because awaruite is magnetic, it can be extracted simply using a magnet and, in this form, it is the only
nickel mineral found in the world that can be recovered without the use of chemicals. Corsica Ressources
plans to extract the sand underwater using a suction dredge, and then separate the magnetic fraction with
an electromagnet, leaving the non- magnetic sand and pebbles on the beach to ensure the natural
preservation of the beaches. It must be emphasized that tests have shown that 98% of the awaruite is
contained in the size fraction of less than 1 mm. The screening process being proposed at Nonza and Albo
will return all sand material that is non -magnetic and greater than 1 mm back to the beach. There is only
interest in the magnetic fraction of less than 1 mm in particle size. It has been erroneously reported that the
Company will crush and process serpentinite pebbles. All pebbles will be rejected untouched in the plant
and placed back on the beaches.
The entire process will take place underwater, preventing the dispersion of any residual material into the
air. To eliminate any potential disruption on local roads, the Company plans to transport the extracted
magnetic product by sea using barges This material will contain circa 40% Ni and be suitable for furnace
feed for any of the seven stainless steel producers in France. However, the laboratory has established the
feasibility to separate the material further into a nominally pure awaruite concentrate using flotation
technology. It can then be synthesized into battery- grade nickel sulphate for the manufacture of EV
batteries. If it is considered appropriate and economically feasible, the magnetic concentrate produced at
Nonza will be shipped by barge to a remote warehouse facility for further processing.
Figure 2: The extraction of awaruite will be carried out by inexpensive and non-polluting mechanical
and physical methods.
Environmental protection and preservation are key aspects of the project. Corsica Ressources also aims to
consider local communities by preserving tourism activities by working only in off season and ensuring
that local populations benefit from the project. These topics were discussed with local stakeholders well
before announcing the intentions of the project in October 2024. Together, the Company has worked to
secure an agreement with officials in Paris to ensure that any royalties would be distributed locally. Corsica
Ressources continues to meet with local stakeholders to address concerns and find appropriate solutions to
ensure that the project benefits everyone . When the results of the impact study are known, Corsica
Ressources will organize information for stakeholders and the population.
Update on Activities in Ecuador
The IP geophysical survey at the Company’s Kuri -Yawi gold target was completed in late 2024. The
purpose of the survey is to define targets for a drill program. The final report from GexplOre is pending
and as soon as t he final report is received, Aurania’s geologists will work to complete their review and
interpretation of the data. Key findings are expected to be published next month (February).
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.
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 Aurania’s objectives, goals or future plans,
statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has
the potential for economic extraction and processing, the merits and effectiveness of known process and
recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets
profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the
Company’s teams being on track ahead of any drill program, the commencement of any drill program 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 differ materially from the results expressed or implied by the forward-looking
information include, among other things: failure to identify mineral resources; failure to convert estimated
mineral resources to reserves; the inability to complete a feasibility study which recommends a production
decision; the preliminary nature of metallurgical test results; the inability to recover and process
mineralization using known mining methods; the presence of deleterious mineralization or the inability to
process mineralization in an environmentally acceptable manner; commodity prices, supply chain
disruptions, restrictions on labour and workplace attendance and local and international travel; 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; a weakening of market and industry reliance on precious metals and base metals; and those
risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the
above list of risk factors is not exhaustive. Although the Company believes 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
assurance can be given that such events will occur in the disclosed time frames or at all. The Company
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.