Auryn Closes $1.9 Million Flow-Through Funding
LEGAL_29515744.3
Auryn Closes $1.9 Million Flow-Through Funding
Vancouver, Canada – July 11, 2019 – Auryn Resources Inc. (TSX: AUG, NYSE AMERICAN: AUG) (“Auryn”
or the “Company”) is pleased to announce that it has closed its previously announced non-brokered flow-
through private placement of 633,334 flow-through common shares (the “ FT Shares”) at a price of CAD $3.00
per FT Share (the “Offering”) for gross proceeds of CAD $1.9 million.
The Company intends to use the net proceeds from the Offering to fund its summer exploration program at the
Committee Bay gold project in Nunavut.
The FT Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax
Act (Canada)) and will be sold on a charitable flow-through basis. The gross proceeds of the sale of the Offering
will be used to fund "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) to
be incurred by no later than December 31, 2020 for renunciation to investors in the Offering effective December
31, 2019.
The FT Shares sold under the Offering will be subject to a four -month hold period and will not be offered or
registered in the United States.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
Ivan Bebek
Executive Chairman
For further information on Auryn Resources Inc., please contact Natash a Frakes, Manager of Corporate
Communications at (778) 729-0600 or [email protected].
About Auryn
Auryn Resources is a technically-driven, well-financed junior exploration company focused on finding and advancing globally
significant precious and base metal deposits. The Company has a portfolio approach to asset acquisition and has seven
projects, including two flagships: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project
in southern Peru. Auryn’s technical and management teams have an impressive track record of successfully monetizing assets
for all stakeholders a nd local communities in which it operates. Auryn conducts itself to the highest standards of corporate
governance and sustainability.
About Committee Bay
The Committee Bay gold project is located in Nunavut, Canada. It includes approximately 300,000 hectares situated along the
Committee Bay Greenstone Belt (CBGB). High -grade gold occurrences are found throughout the 300 km strike length of the
Committee Bay Gold Belt with the most significant being the Three Bluffs deposit. The project benefits from exis ting
infrastructure, including bulk storage fuel facilities, five high -efficiency drill rigs and a 100 -person camp. The Committee Bay
project is held 100% by Auryn subject to a 1% Net Smelter Royalty (“NSR”) on the entire project and an additional 1.5% NSR
on a small portion of the project.
Forward Looking Information and Additional Cautionary Language
This release includes certain statements that may be deemed “forward -looking statements”. Forward -looking information is
information that includes implied future performance and/or forecast information including information relating to or associated
with the acquisition and title to mineral concessions. These statements involve known and unknown risks, uncertainties and
other factors which may cause actual res ults, performance or achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or achievements expressed or implied by such forward -looking
statements. Readers should refer to the risks di scussed in the Company’s Annual Information Form and MD&A for the year
ended December 31, 2018 and subsequent continuous disclosure filings with the Canadian Securities Administrators available
at www.sedar.com and the Company’s registration statement on Form 40 -F filed with the United States Securities and
Exchange Commission and available at www.sec.gov.
US Investors
This news release does not constitute an offer to sell or a solici tation of an offer to buy nor shall there be any sale of any of
the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares have
not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or
any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as
defined in Regulation S under the U.S. Securities Act) unless registere d under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration requirements.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
release.