Astorius Clarifies November 27 News Release Announcing Renegotiation of Condor Option Term and Commits to 1ST Q Work Program IN Equador
NEWS RELEASE:
ASTORIUS CLARIFIES NOVEMBER 27 NEWS RELEASE ANNOUNCING RENEGOTIATION
OF CONDOR OPTION TERM AND COMMITS TO 1ST Q WORK PROGRAM IN EQUADOR
Vancouver, British Columbia – November 29th, 2017 – Astorius Resources Ltd. ( TSX-V: ASQ, Frankfurt:
47AF) (“Astorius” or the “Company” ) would like to clarify its November 27 news release and state that the
technical information within the release was not reviewed by Clinton Smyth, P. Geo, and Astorius’ Qualified
Person as defined in NI 43-101.
The Company is pleased to announce that the Company has renegotiated the option for the property Lateegra
Ecuador (“LRG" or the "Optionor"). and has initiated an exploration program in Eduardo aiming to explore the
recently optioned Condor properties.
OPTIONOR HEREBY GRANT TO ASQ THE OPTION ON TERMS DEFINED BELOW;
Date Cash Considerations Work Obligations (First Quarter
2018)
On approval by TSX of this Option
Agreement or on December 5, 2017
whatever happens first
US$ 25,000
From January 2018 to March 2018 US$ 50,000
On March 15, 2018
Pay annual patent tax of the Claim
and file annual Exploration and
Audit reports to the Ecuadorian
authorities
On March 30, 2018 when the
Definite Agreement will be signed
US$ 50,000
TOTAL US$ 75,000 US$ 50,000
DEFINITIVE AGREEMENT TERMS:
The Definitive Agreement will contain the following terms and conditions:
• Payments in cash of no more than US$ 1,200,000 dollars to be paid in the dates to be agreed by the Parties
when signing the Definitive Agreement; and
• Issuance of 4,500,000 (four million five hundred thousand) ASQ shares in favor of Optionor or whoever it
will determine for such effect
The property consists of two hundred and forty two (242) hectares of mineral rights within 4,000 meters south east
of Lundin Gold Inc. (TSX VENTURE: LUG)’ Fruta del Norte ("FDN") high grade gold discovery and just south of
Lundin’s Machinaza target. Condor is also located within the known Ecuadorian Copper Belt, just 6 kilometers
south of EcuaCorriente’s Mirador, Panantza and San Carlos copper projects.
Lateegra Ecuador S.A. also owns a 69 hectares farm (surface rights) located within the boundaries of Condor
concession.
Condor Concession is basically the only mining concession within Lundin’s 90,000 group of morning concessions
which is not property of Lundin Gold and is surrounded by Duque concession (see: map).
The Condor Property was originally purchased by Lateegra Ecuador S.A. from Mr. Freddy Salazar, an Ecuadorian
Geologist who spent ten years working as an in-country geologist for Newmont Gold and more later for Aurelian
Resources. Mr. Salazar was instrumental in the identification of the land package known as the Fruta del Norte
Project held originally by Aurelian Resources Inc., then by Kinross Gold and now by Lundin Gold. The Condor
property is within the same geologic unit as Lundin's Fruta del Norte discovery. Mr. Salazar is President of Salazar
Resources, a Canadian public corporation that continues developing world class properties in Ecuador.
Condor concession is fully covered by strongly altered and oxidized intrusive rocks with presence of limonite veins
and some fully brecciated sections with sericitic alteration, angular alluvial gold in placers covers 70% of the area.
The property is underlain by strongly altered intermediate porphyritic intrusive rocks containing weathered
sericitic/chloritic alteration. Veins up to 4m in wide of tectonically brecciated crystalline quartz with iron oxides
have been intersected in nearby trenches by Aurelian Resources. Additionally, 1m float boulders discovered in the
area have assayed up to 6.62g/t Au, with angular alluvial gold covering 70% of the area.
The Condor concession also has an important aluvial deposit in the low and mid terraces on both sides of the
Machinaza, in an area of 1.2 km by 200 meters by 4 to 8 m depth. Additionally, some mineralized outcrops have
been found.
There is a complete N.I. 43-101 report on Condor that will be updated with the results obtained during the
exploration program.
Astorius is re-negotiating a new option agreement to acquire 100% of the shares of Lateegra Ecuador S.A.
titleholder of the "Condor" property in South Eastern Ecuador.
About Astorius Resources Ltd.
Astorius (TSX.V:ASQ Frankfurt: 47AF) is a junior exploration and near term production company focused on
high value minerals deposits in North and South America.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Arthur Brown”
President & Director
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward -looking statements," Statements in this press release which are not purely historical are forward -looking
statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, i ncluding but not limited to,
statements regarding the exploration results on the property mining concession.
Actual results could differ from those projected in any forward -looking statements due to numerous factors. Such factors include, among others,
the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are
not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the forward -looking statements, or to update the reasons why actual results could
differ from those projected in the forward -looking statements. Although we believe that the beliefs, plans, expectations and intentions contained
in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.