ARU.V · 2019-04-02 12:00:00

Tsenken Target IN Ecuador with New High - Grade Copper - Silver Samples F

Corporate Updates

TSX

V: ARU

NR 201

AURANIA

PANDS

THE

TSENKEN TARGET

ECUADOR

WITH NEW

HIGH

GRADE

COPPER

SILVER

SAMPLES

IFTH

HOLE BEING DRILLED

AT CRUNCHY HILL

Toronto, Ontario,

April

201

–

Aurania Resources Ltd. (TSXV: ARU)

(OTCQB: AUIAF)

rankfurt

: 20Q)

(“Aurania” or the “Company”)

reports

the Tsenken target

in the Lost Cities

–

Cutucu

Project (“Project”) in southeastern Ecuador

has been

enlarged

kilometres

(“km”)

;

high

grade copper

and

silver has now been found over a

9km long

trend

. Recent grab s

amples

from

boulders in st

eams

contain

up to

% copper

with

grams per tonne (“g/t”) silver

up exploration of these streams has

led to the discovery of copper and silver in

outcrop.

Aurania’s

President

, Dr.

Richard Spencer

commented, “

sults from recent sampling have

tripled

the size

of the Tsenken target

to an impressive

length of

9km

The

copper

silver

mineralization

s in sedimentary

rocks above and to the side of

conspicuous geophysical

feature that we believe is a

buried

porphyr

cluster

. Our current exploration model is that

copper and silver

from the porphyry cluster spread

into the

enclosing

, permeable

sedimentary rocks

where it was trapped, creating a

more or less flat

lying

layer

copper

silver

–

bearing ro

ck. This

sheet

like target should be

relatively simple t

drill

The potentially

larger target presented by the

covered porphyry would require much deeper drilling

and wo

ld be

investigated in a later phase of exploration

”

“In addition, scout drilling

at Crunchy Hill is progressing well with

four

holes

completed

and the fifth is

currently underway

Samples from the first

three

holes have been dispatched to the laboratory. Core

recovery has been excellent. No assays have been returned at this time.

e intend to release

results once

we have

completed

drill

ing

a cluster of holes

This will enable us to understand the context of any

mineralization.

”

Copper

Silver Miner

ali

zation

at Tsenken

opper and silver found in the area north of the magnetic feature at Tsenken

(Figure 1)

is contained in

relatively flat

lying layers of sandstone and shale. Mineralization is mainly concentrated in layers that

contain carbon in

fossilized

plant

fragments

ithin the sedimentary rock. The copper minerals observed

include

malachite

chrysocolla, tenorite

chalcocite

cuprite

and minor bornite and chalcopyrite

Grades from boulders in streams

range from

0.8

% copper with

1.3

g/t silver to

9.3

% copper with

185g

silver (

Figure 1

). The

grade of outcrop samples ranges from 0.15% copper an

1.1g/t silver to 3

8.6

% copper

and 263g/t silver. The latter s

ample with extreme grade

robably represents an isolated pocket of

mineralization akin to a gold nugget, that is atypical

and should not be extrapolated

–

it is extremely unlikely

that this

extreme grad

e extends over any significant distance.

The

magnetic feature

evident at Tsenke

n in

the data from t

he geophysic

survey

that the Company flew over the Project

in late 2017

is about 5km

long by 3km wide

(Figure 1)

. This is far larger than a typical porphyry. One

explanation for its size

, raised

in the

Company’s

January 10, 2019 pr

ess release, is that the Tsenken feature represents a cluster of porphyry

bodies

ineralization models

will likely

evolve with further exploration of the Project.

Figure 1:

Sample Analysis &

Quality Assurance / Quality Control (“

QAQC

”)

Some of t

samples were prepared for analysis at ALS

Global

’s

(“ALS”)

lab in Quito, Ecuador

and others

MS Analytical

in Cuenca, Ecuador

The rock samples were jaw

crushed to 10 mesh

(crushed material

passes through a mesh with apertures of

2 millimetres (“

”

)

, from which a

one

kilogram

sub

sample

was taken. The sub

sample was crushed

to a grain size of

0.075mm and

a 2

0 gram

(“g”)

split was set

aside for analysis.

Aurania personn

el inserted a certified standard pulp sample, alternating with a field blank,

intervals of

approximate

20 sample

in all sample batches

ALS’s preparation lab in Quito sent the prepared samples to its analytical facility in Lima, Peru for analysis

Samples prepared by

MS Analytical

were sent to its assay facility in Vancouver for analysis.

pproximately

0.25g of

rock

pulp underwent four

acid digestion and analysis

for 48 elements

by ICP

MS. For the over

limit samples, those that had

grade of

greater than 1%

copper and 100g/t silver

0.4 grams of pulp

underwent digestion

in four acids

and the resulting liquid was diluted

and analy

zed

by ICP

MS.

The ultra high

grade copper sample

(sample Y003600)

was re

assayed by

MS Analytical

, and the value

eported in

Figure

1 is the average of the two assays.

he re

assay

values for copper were 38.68% in the

original and 38.63% in the re

assay, and for silver, the values were 263g/t and 262g/t respectively

ALS

and

MS Analytical

reported that the analyses h

ad passed

their

internal QAQC tests. In addition,

Aurania’s analysis of results from its QAQC samples

showed the

they passed its internal QAQC standards

Qualified Person

The technical information contained in this news release has been verified and appro

ved by Jean

Paul

Pallier, MSc. 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 Administra

tors.

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 Metallog

enic 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

[email protected]

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367

3200

[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 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 availabl

e 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

opportuniti

es 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, pot

ential 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

marke

t 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 inabili

ty 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, politica

l 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 pri

ces, 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 SE

DAR. 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 r

elease, 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 even

ts or otherwise, other than as required by law.

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