ARU.V · 2020-02-04 12:00:00

AURANIA REPORTS ON KEY COMPONENTS OF ITS NEW NI 43 - 101 TECHNICAL REPORT Conference Call Scheduled for February 12 th at 10:00am EST

Technical Reports (NI 43-101)

TSX

V: ARU

NR 20

AURANIA REPORTS ON KEY COMPONENTS OF

ITS NEW NI

101 TECHNICAL

REPORT

Conference Call Scheduled for February 12

at 10:00am EST

Toronto, Ontario,

February

–

Aurania Resources Ltd. (TSXV: ARU)

(OTCQB: AUIAF)

rankfurt

: 20Q)

(“Aurania” or the “Company”)

reports that

it has filed a National Instrument 43

101

(“NI

101”) technical report

dated February 4, 2020

entitled, “A Technical Review of the Lost Cities

–

Cutucu Exploration Project, Morona

Santiago Province, Ecuador.”

The report is available

under the

Company’s profile on SEDAR

www.sedar.com

and on the Company’s website

www.aurania.com/projects/technical

reports/

Aurania will host a conference call

February 12, 2020

10:00am EST

to discuss the recommendations of the NI 43

101 and other recent deve

lopments in the

Company.

Dial

in details for the conference call are listed below.

Recommendations

from the NI 43

101 Report

The author of the NI 43

101,

Dr. Robert Page, P.Geo., of independent consulting firm Watts, Griffis and

McOuat

Limited

has concl

uded that Aurania’s

proposed

2020

exploration

program, outlined below

appropriate for the

Project

. The main components are



Complete the reconnaissance stream sediment sampling as the primary field tool to identify

additional targets, the priority being to find potentially outcropping gold

bearing systems;



up the geophysical targets identified by

Independent Senior Geoph

ysical Consultant,

Jeremy S. Brett,

who

was involved throughout the Company’s heliborne geophysical survey from

planning, daily review of the data as it was acquired in the field, to interpretation. He identified 64

individual targets, 31 of which were ca

tegorized as high priority for follow

;



Continue s

cout

drilling the

highest

ranked

of the 20

epithermal gold

silver targets

with

the

extensive

epithermal alteration systems at

Latorre (where Crunchy Hill and Yawi are located), Apai

and Tiria

;



Continu

e detailed geological work and field sampling of sedimentary

hosted copper

silver

mineralization observed in scattered outcrops over a distance of 23km, to advance these targets to

scout drilling;



Advance the

clusters of

copper

gold and copper

porphyry tar

gets at Kirus, Jempe, Tsenken and

Awacha

through more detailed exploration,

in preparation

for scout drilling;

and



Undertake similar exploration of

he carbonate replacement

–

style

silver

zinc

lead mineralization

which has been identified in sporadic outc

rops

and numerous boulders

over a total of 12km

in the

Shimpia target area

Conference Call & Webcast

Details

Aurania’s Chairman and CEO, Dr. Keith Barron and President, Dr. Richard Spencer will be hosting a

webcasted conference call on

Wednesday, February 12, at 10:00am EST

Webcast URL

ttp://services.choruscall.ca/links/aurania20200212.html

When prompted, webcast participants enter: First Name, Last Name, Company, Email Address.

Participant Telephone Numbers

Canada/USA TF: 1

800

319

4610

Toronto Toll: +1

416

915

3239

& Europe

TF: 080

101

2791

Callers should dial in 5

–

10 min prior to the scheduled start time and simply ask to join

Aurania’s

call.

Qualified Person

The technical information

pertaining to the NI 43

101

technical report in this press release

has been verified

and approved by

Robert Page

Ph.D

, P.Geo.

Page

is a

Senior Associate of independent consultants,

Watts, Griffis and McOuat

Limited

Geological and Mining Consultants of Toronto, Canada. Dr. Page

is a

Professional Geoscientist registered in the Province of Ontario and is a Qualified person as defined by

National Instrument 43

101, Standards of Disclosure for Mineral Projects of the Can

adian Securities

Administrators

The technical information

pertain

ing

to geophysical data and related interpretations in this news release has

been verified and approved by Jeremy S. Brett, M.Sc., P.Geo.,

independent

Senior Geophysical

Consultant wit

MPH Consulting Limited. Mr. Brett is a Professional Geoscientist registered in the

Province of Ontario and is a Qualified person as defined by National Instrument 43

101, Standards of

Disclosure for Mineral Projects of the Canadian Securities Administra

tors.

All other

technical 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

Qualified Person as defined by National In

strument 43

101, Standards of Disclosure for Mineral Projects

of the Canadian Securities Administrators.

About Aurania

Aurania is a junior

mineral

exploration company engaged in the identification, evaluation, acquisition and

exploration of mineral prope

rty 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 Aura

nia and technical reports are available at

www.aurania.com

and

www.sedar.com

, as

well as on Facebook at

https://www.facebook.co

m/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

[email protected]

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367

320

[email protected]

Neither the TSX

enture 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 inf

ormation 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”. S

ince 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, Aurani

a 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 materia

lly 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 mineralizatio

n, 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. Factor

s 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 fea

sibility 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 t

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 d

evelopment 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 Aurani

a 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 assur

ance 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, oth

er than as required by law.

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