Auryn Commences Drilling at Homestake Ridge Gold Project and Provides Update on Drilling Progress at Committee Bay
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Auryn Commences Drilling at Homestake Ridge Gold Project and Provides
Update on Drilling Progress at Committee Bay
Vancouver, British Columbia – August 17th, 2018 – Auryn Resources Inc. ( TSX: AUG, NYSE
AMERICAN: AUG, “Auryn” or the “Company”) is pleased to a nnounce that drilling has commenced
at its 100% owned Homestake Ridge project located in northwestern British Columbia. The program,
which began on August 7 th, 2018, consists of approximately 3,000 meters of core drilling to target gold
mineralization along the high-grade South Reef deposit.
In the 2017 drill program, Auryn intercepted zones of high- grade gold mineralization at South Reef’s
down plunge. These intercepts included 30 meters of 2.00 g/t Au (including 4m @ 6.03g/t Au & 2m @
11.80 g/t Au) and 10 meters of 4.12 g/t Au (including 2m @ 18.01 g/t Au) ( see Auryn’s press release
dated December 12, 2017 for full results).
This year’s program aims to expand the know n resource at South Reef by targeting the down plunge
extension along the bottom of a graben, which defines the mineralized corridor (Figure 1). The drill
program will test 500 meters of strike extension along a one-kilometer gold-in-soils anomaly targeting
multiple mineralized structures within the graben (Figure 2).
A Message from Michael Henrichsen, COO & Chief Geologist:
“The high-grade resource at the Homestake Ridge project has an exceptional opportunity for expansion
along the South Reef mineralized corridor. Geological modeling based on the 2017 drill campaign has
identified a well-defined graben system that is open to the northwest and will be targeted with 6 – 8 drill
holes.”
Committee Bay Update:
• A total of 7200 meters in the 10,000 meter program has been completed, including:
o 3700 meters of diamond drilling to follow-up on the Aiviq discovery along a 1.2 kilometer
strike length
o 3500 meters of RAB drilling on high-resolution gold- in-till targets at Kalulik, Aarluk,
Ridge, and Castle
• Completion of the program is expected August 25th
• Results are anticipated between mid-September and the end of October
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A Message from Ivan Bebek, Executive Chairman & Director:
“The fourth quarter of 2018 will be exciting for Auryn shareholders as we are drilling two fully-
funded opportunities for significant gold discoveries in Canada. We have also made great progress
in Peru over the summer at our Sombrero project, where we recently identified several drill
targets. Updates can be expected in the coming weeks.
With respect to our recently announced funding, we appreciate the support from existing
shareholders and welcome new shareholders. We plan to remain judicious with our
treasury in these less-than-optimal market conditions.”
Michael Henrichsen, P.Geo, COO of Auryn, is the Qualified Person who assumes responsibility for the
technical disclosures in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
Ivan Bebek
Executive Chairman
For further information on Auryn Resources Inc., please contact Natasha Frakes, Manager of Corporate
Communications at (778) 729-0600 or [email protected].
About Auryn
Auryn Resources is a technically dr iven junior mining exploration company focused on delivering shareholder value through
project acquisition and development. The Company’s management team is highly experienced with an impressive track record
of success and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on
scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid
gold projects located in Nunavut, the Homestake Ridge g old project in British Columbia and a portfolio of gold projects in
southern Peru, through Corisur Peru SAC.
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 results, 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 discussed in the Company’s Annual Information Form and MD&A for the year
ended December 31, 2017 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.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
release.
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Figure 1: Illustrates the graben structure that hosts high-grade gold mineralization within the South Reef
deposit. These images also demonstrate how the graben structures coincide with an untested one-
kilometer long gold-in-soils anomaly, which Auryn is currently targeting.
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Figure 2: Illustrates the 2018 drill plan, which target s the NW plunging high- grade mineralization along
the bottom of the graben margins.