Reports That Ecuadorian Government Has Replaced the Head of Senagua – the Water Authority
TSX
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V: ARU
NR 201
9
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AURANIA
REPORTS THAT ECUADORIAN GOVERNMENT HAS REPLACED
THE
HEAD
OF SENAGUA
–
THE WATER AUTHORITY
Toronto, Ontario,
Octo
ber
16
,
201
9
–
Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”)
r
eport
s that the Ecuadorian
government
has replaced
the director of SENAGUA, the institution that manages water resources throughout the country.
The new
Secre
tary of SENAGUA
, Mr. Marco Troya,
was appointed by Ecuador’s President Moreno yesterday.
Excessive delays in the issuance of water permits for scout drilling ha
ve
slowed the
rate at which Aurania
has been able to drill
-
test its numerous targets in the Lost Cities
–
Cutucu Project in southeastern Ecuador.
Aurania looks forward to working
closely
with the new administration towards faster permit approvals
under the stringent st
andards demanded by SENAGUA.
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 as
set,
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
h
ttps://twitter.com/auranialtd
,
and LinkedIn at
https://www.linkedin.com/company/aurania
-
resources
-
ltd
-
.
For further information, please contact:
Carolyn Muir
Manager
–
Investor Servic
es
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 adequa
cy or accuracy of this release.
Forward
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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 Aurani
a’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”, “estimate
s”, “may”,
“could”, “would”, “will”, or “plan”. Since forward
-
looking statements are based on assumptions and
2
address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on i
nformation 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, performan
ce, 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, stateme
nts, 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 oper
ations 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 resou
rces 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 othe
r 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.