FURY.TO · 2017-07-17 12:00:00

Auryn Commences Drilling at the Homestake Ridge Gold Project

Exploration Programs

Vancouver, British Columbia – July 17th, 2017 – Auryn Resources Inc. (TSX: AUG, NYSE

MKT: AUG, “Auryn” or the “Company”) is pleased to announce it has init iated a 15,000

meter exploration drill program on the Homestake Ridge gold project located within the Golden

Triangle in northwestern, British Columbia.

Shawn Wallace , Auryn’s CEO , commented, “with the commencement of this drill program ,

Auryn now has two discovery drill programs running simultaneously. These programs further

increase the potential for major discoveries in some of the most prolific high grade gold regions

within Canada.

Mr Wallace further stated, “surface exploration programs are ongoing in Peru and drilling is

anticipated to commence in Q4, once the Canadian drilling is complete.”

The 12 week summer exploration program at Homestake is primarily focused on making new

discoveries to considerably add to the high -grade resource that is currently defined on the

project as listed in table 1 below (refer to the technical report dated June 7, 2013 filed on sedar

at www.sedar.com).

Table 1: Homestake Ridge Resource (effective Dec 31, 2012)

Tonnes

Grade

(g/t)

Contained

(oz)

Grade

(g/t)

Contained

(oz)

Grade

(%)

Contained

(Mlb)

$85/t Cut-off

Indicated 604,000 6.4 124,000 48.3 939,000 0.18 2.41

Inferred 6,766,000 4.2 911,000 93.6 20,400,000 0.11 16.6

$100/t Cut-off

Indicated 549,000 6.8 120,000 52.0 918,000 0.20 2.36

Inferred 5,600,000 4.7 846,000 105 19,000,000 0.11 14.0

$120/t Cut-off

Indicated 482,000 7.4 115,000 57.0 883,000 0.21 2.24

Inferred 4,470,000 5.4 779,000 117 16,900,000 0.12 11.6

Notes:

1. CIM definitions were followed for Mineral Resources.

2. Mineral Resources utilize three separate block models constrained by 3D wireframes of

the mineralized zones. The block models are comprised of an array of blocks measuring

5 m x 5 m x 5 m, with grades for Au, Ag, Cu, and NSR values interpolated using ID3

weighting.

3. Mineral Resources are estimated using an average long ‐term gold price of US$1,500

per ounce Au, US$27 per ounce Ag, and US$3.50 per pound Cu, with an exchange rate

of C$1.00=US$1.00.

4. The NSR calculation included provisions for treatment charges, refining costs,

transportation, and a 2% NSR royalty; and was calculated using Au, Ag and Cu

metallurgical recoveries of 92% Au, 88% Ag and 87 .5% Cu in blocks where Cu%>

0.1%; and was calculated using just Au and Ag recoveries in blocks with <0.1% Cu.

5. The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). David

Rennie (P. Eng.) is the Principal Geologist for Roscoe Postle Asso ciates Inc. and is the

Independent Qualified Person responsible for preparation and review of the Mineral

Resource Estimate. (Effective date: Dec 31, 2012).

The Homestake program will consist of 15,000 meters of diamond drilling that will be supported

by the following surface work to target newly defined structures across the project area (see

Figure 1):

 2,000 soil samples targeting prospective structural corridors on 200 by 25 meter grids

 High resolution XRF soil sampling and shortwave i nfrared analysis on 50 by 25 meter

grids

 16 line km of Induced Polarization geophysical surveys

Michael Henrichsen, Auryn’s COO and Chief Geologist commented “ recent 3D modeling of all

historical data as well as the re -logging of 77,000 meters of historical drill core has

demonstrated the project has a number of highly prospective structures that remain untested.

The technical team has done extensive work to bring these targets to a drill ready state and is

excited about the ongoing drill programs.

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.

“Shawn Wallace”

President and CEO of Auryn Resources Inc.

For further information on Auryn Resources Inc., please contact Jay Adelaar, Vice -President of

Investor Relations at (778) 729-0600 or [email protected]

About Auryn

Auryn Resources is a technically driven 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 an d 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 locate d in Nunavut, the Homestake

Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through

Corisur Peru SAC.

Forward Looking Information

This release includes certain statements that may be deemed "forward -looking stateme nts".

Forward-looking information is information that includes implied future performance and/or

forecast information including information relating to, or associated with completion of

financings, access to capital and improved trading liquidity. These st atements 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 achiev ements 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, 2016 and

subsequent continuous disclosure filings with the Canadi an 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.

Disclaimer

The Toronto Stock Exchange nor the Invest ment Industry Regulatory Organization of Canada

accepts responsibility for the adequacy or accuracy of this release.

Figure 1: Depicts target structural corridors based on 3D modeling of historical data based on alteration and

precious and base metal distributions as well as the re-logging of 77,000 meters of historical drill core.

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