Aurania Provides Quarterly Update of Operations
TSX-V: ARU
NR 2019-34
AURANIA PROVIDES QUARTERLY UPDATE OF OPERATIONS
Toronto, Ontario, November 21, 2019 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to provide a quarterly update on operations
including scout drilling at the first of four targets at Yawi, the search for the historic gold mining centres of
Logroño and Sevilla, and the copper exploration in its Lost Cities – Cutucu Project (“Project”) in
southeastern Ecuador.
Update on Drilling at Yawi Gold-Silver Target
Drilling is progressing well at ‘Yawi Target A’ with the second bore hole having reached a depth of 256
metres. Updates will be provided as the drill program advances.
The Search for the “Lost Cities”
The search for the historic gold mining areas of Logroño and Sevilla continues to be spearheaded by field
work, Metron’s Bayesian statistical analysis of multiple datasets and through LiDAR. The company that
was contracted to survey the entire Project area has had multiple technical and operational issues, as well
as the weather being challenging for their sophisticated LiDAR instrumentation. Aurania needs LiDAR
data from a key area immediately, and therefore has contracted another LiDAR company to conduct that
small survey. The second contractor’s equipment provides much lower resolution data, but the fact that it
is collected at lower altitude means that the survey area can be flown beneath cloud cover that would
otherwise impede data collection with the high-altitude system. Aurania considers the need to complete
the LiDAR survey over the key area to be time sensitive and therefore the Company is not willing to risk
any further operational delays from the original contractor.
The original contractor has assured the Company that it will resolve its operational issues, many of which
have arisen due to the highly sophisticated nature of the LiDAR equipment. LiDAR coverage of the
remainder of the Project area is less time sensitive and likely will be completed by the original contractor.
Copper Exploration
The basic field-based exploration for gold-silver in the Project area continues to uncover extensive
indications of copper mineralization. This is being advanced on two fronts:
Sedimentary-hosted copper-silver: Channel sampling with a diamond-encrusted saw aims to
demonstrate continuity in copper-silver mineralization along specific layers in the sedimentary
host rock. Results will be reported shortly; and
Porphyry copper: Field work continues to underscore the potential for porphyry copper targets in
the Project area.
Porphyry copper zones are emerging near sediment-hosted copper-silver areas, forming clusters of targets.
Both target types are being advanced to a point where these clusters could be scout drilled in the most
efficient and cost-effective way.
Quarterly Filings
The Company’s interim Financial Statements and Management’s Discussion and Analysis for the period
ended September 30, 2019 are now available on SEDAR and on Aurania’s website.
About Aurania
Aurania is a junior mineral 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 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
Manager – Investor Services
Aurania Resources Ltd.
(416) 367-3200
Dr. Richard Spencer
President
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 may contain forward-looking information 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 words
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”. Since 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 provides 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 that 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 feasibility 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
fulfill 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 development 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 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. 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.