Aurania Appoints Corporate Secretary and Provides Highlights from Year End Financial Statements
Rhea-AI Summary
Aurania Resources (OTCQB: AUIAF) has announced the appointment of Carolyn Muir as Corporate Secretary while maintaining her role as VP of Corporate Development & Investor Relations. Key developments include:
The company advanced its Kuri-Yawi gold target exploration, identifying a large vertical conductive corridor with potential mineralized zones. At the Awacha porphyry copper target, geological reconnaissance confirmed areas of interest with porphyric intrusive showing potassic alteration.
Financial activities in 2024 included two non-brokered private placements totaling $5.4M, debt settlement of $3.8M through share issuance, and a $1M unsecured loan. In 2025, the company launched a new private placement of up to $1.5M, with the first tranche closing at $954,870.
The company maintains 42 mineral exploration concessions in Ecuador and has completed Swiss subsidiary liquidation. Additionally, Aurania sold its Peruvian subsidiary to Palamina Corp. for 350,000 shares and a 1% NSR royalty.
Positive
- Secured $5.4M through private placements in 2024
- Identified promising mineralization zones at Kuri-Yawi gold target
- Confirmed potential copper mineralization at Awacha target
- Successfully settled $3.8M debt through share issuance
- Raised additional $954,870 in 2025 first tranche financing
Negative
- Continued reliance on debt financing from Dr. Keith Barron
- Need for ongoing financing indicates cash flow challenges
- Required new agreement for Ecuador concession fee payments
News Market Reaction
On the day this news was published, AUIAF gained 3.36%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - April 25, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to announce the appointment of Ms. Carolyn Muir as Corporate Secretary of the Company, in addition to her role as Vice President, Corporate Development & Investor Relations. The Company also reports that its Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2024, are available under Aurania's public filings on SEDAR+ at www.sedarplus.com and on the Company's website. Highlights are described below.
Highlights from Management's Discussion and Analysis
During the fourth quarter of 2024, the Company advanced drill target definition at its Kuri-Yawi gold target through detailed geophysical surveys and geological mapping. Preliminary results show a large vertical conductive corridor aligned with thallium-rich chalcedony veins, sinters and hydrothermal alterations, key indicators of epithermal systems. Two main chargeability structures were identified, interpreted as potential mineralized zones. Ongoing data integration will guide preparations for a future drill campaign.
The Anaconda mapping program at the Awacha porphyry copper target area was completed during 2024. Initial geological reconnaissance has confirmed an area of interest through the observation of porphyric intrusive showing potassic and sericite alteration with the presence of quartz veins with chalcopyrite traces. Next steps will consist of an interpretation of all the data collected with the realization of thematic maps to define the most prospective area of interest.
During 2024, Aurania's CSR activities supported clean water access, education, and women's entrepreneurship across the communities in its areas of influence in Ecuador, including the launch of a micro-business program, school and library construction, and community-based training initiatives.
The Swiss challenge and public consultation phases associated with the application for a 51 km² exploration permit-located immediately adjacent to the South Armorican Shear (cisaillement sud-armoricain) in the Brittany Peninsula of northwestern France-have now been completed, and the Company continues to advance through the progress of the application.
The Company signed non-binding memoranda of understanding with the Communes of Ogliastro and Nonza in Cap Corse, Northern Corsica, France, for the exploitation of heavy mineral beach placers that are highly enriched in nickel (Ni) and other metals. The nickel-bearing mineral in the black magnetic sand is awaruite, a naturally occurring nickel-iron alloy, which is both of high specific gravity (dense) and of high magnetic susceptibility (magnetic).
AuroVallis, the wholly owned Swiss subsidiary of Aurania, completed the liquidation process initiated several years on June 30, 2024, with no impact on the Company's consolidated financial figures.
On September 23, 2024, Palamina Corp. ("Palamina"), completed the acquisition of
During 2024, the Company completed two non-brokered private placements totaling
The Company reached an agreement with the corresponding Ecuadorian authorities for the payment of the annual concession fees of its 42 mineral exploration concessions in Ecuador for the year 2024. Subsequent to year end, the Company filed all the appropriate documentation for the renewal of its 42 mineral exploration concessions in Ecuador for the year 2025 and filed a request to enter into a new agreement for payment of the associated annual concession fees. Its property in Ecuador remains in good standing while an agreement is being finalized.
Subsequent to year end, on April 3, 2025, the Company announced its intention to complete a non-brokered private placement financing of up to 5,000,000 units of the Company at a price of
Option Grant
On April 24, 2025, Ms. Carolyn Muir was granted 130,000 stock options exercisable at C
Qualified Person
The technical information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic 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.sedarplus.ca, 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
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes Aurania's objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company's teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company's public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company 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 release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249766
FAQ
What are the key exploration findings at Aurania's (AUIAF) Kuri-Yawi gold target in 2024?
How much funding did Aurania Resources (AUIAF) secure through private placements in 2024?
What is the status of Aurania's (AUIAF) 2025 private placement financing?
How did Aurania (AUIAF) handle its debt settlement with Dr. Keith Barron?
