Aurania Renews Select Concessions IN PERU & Grants Stock Options
TSX-V: ARU
NR 2022-15
AURANIA RENEWS SELECT CONCESSIONS IN PERU
& GRANTS STOCK OPTIONS
Toronto, Ontario, July 3, 2023 – Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF;
Frankfurt: 20Q) (“Aurania” or the “Company”) announces that it has completed the process of
renewing certain annual mineral concession applications at its Vicus property in Peru (the “Property”). The
Company selected concessions that have higher geological potential, where the application process has
been completed and most of the concessions granted.
In total, ninety-four concessions covering an area of 93,100 hectares were renewed and paid using an
existing credit of US$277,689 that the Company had with the Instituto Geológico Minero y Metalúrgico or
“INGEMMET”. INGEMMET is the Peruvian scientific and management agency division of the Ministry
of Energy and Mines. Thirty-six concessions covering a total area of 35,600 hectares were not renewed by
the Company.
The credit can only be applied towards concession fees in Peru ; it cannot be refunded as cash to Aurania.
The renewal covers the period July 1, 2022 to June 30, 2023 for the Property and the next payment covering
the period July 1, 2023 to June 30, 2024 is expected to occur prior to June 30, 2024.
Although the Company believes that many of the concessions in Peru remain prospective, management
determined that the additional annual fees and other costs associated with the Property are not appropriate
for a non-core asset. The Company will continue to pursue a potential partner and/or a possible corporate
transaction for the Property.
As stated in the press release dated April 12, 2023, i ndependent directors of the Company have agreed to
receive all of their director fees in the form of stock options in lieu of cash for each quarterly period in
2023. On June 30th, 2023, each director was granted 14,500 stock options at an exercise price of $0.33 in
lieu of their director fees for Q2 2023. An aggregate of 58,000 stock options were granted. The stock options
will be exercisable for three years and vest immediately.
Also, in accordance with the Company’s Stock Option Plan, the Board of Directors granted a total of up to
1,990,000 stock options to directors, officers, employees and consultants. The stock options have an
exercise price of C$0.33, are exercisable for five years and are subject to customary vesting conditions.
Qualified Person
The geological information contained in this news release has been verified and approved by Jean- Paul
Pallier, MSc., Vice-President Exploration of the Company. 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.
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About Aurania
Aurania i s 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 – Cutucú 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 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 corporation’s portfolio, treasury, management
team and enhanced capital markets profile, the estimation of min eral 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, the ability to
anticipate and counteract the effects of CO VID-19 pandemic on the business of the Company, including
without limitation the effects of COVID -19 on the capital markets, 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 copper ; 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.