Aurania Reports Initial Findings From IP Survey at Kuri-Yawi

Rhea-AI Summary

Aurania Resources (OTCQB: AUIAF) has reported significant findings from its induced polarization (IP) geophysical survey at the Kuri-Yawi gold target in Ecuador. The survey, conducted by GexplOre in late 2024, revealed important conductive and chargeability anomalies that will help determine future drill hole locations.

The survey detected a conductive sedimentary unit to the east and a resistive volcanic unit overlying another conductive unit at depth. In the southeastern area, vertical conductive structures form a large corridor aligned with previously discovered high-grade thallium chalcedony veins. Two main chargeability vertical structures were identified: one in the Northwest extending to a deeper model, and others in the south associated with vertical conductive anomalies.

Notably, large pieces of siliceous sinter were found in the grid, indicating an extinct geothermal system. This is particularly significant as the Fruta del Norte gold deposit, located 100 km south, lies beneath a similar siliceous sinter unit.

Toronto, Ontario--(Newsfile Corp. - February 20, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") reports that the induced polarization (IP) geophysical survey has provided invaluable information that will assist in defining the location of future drill holes at the Kuri-Yawi gold target in Ecuador. Kuri-Yawi is a geochemical anomaly with enrichments in epithermal pathfinder elements. In addition, large pieces of siliceous sinter in float were recovered from the grid signifying the presence of an extinct geothermal system. The Fruta del Norte gold deposit some 100 km to the south lies beneath a siliceous sinter unit.

The IP survey detected conductive and chargeability anomalies at the Kuri-Yawi epithermal gold target. Chargeability (or induced polarization) is a measure of the ability of the rock to temporarily retain an induced electrical charge, usually due to disseminated sulphides

Our geologists are now working to interpret the IP survey results in relation to and compared to existing field data and data from the previous Mobile MagnetoTellurics (MobileMT) airborne survey to define optimal drill hole positions. A start date for a proposed drill program at Kuri-Yawi has not yet been determined.

The IP survey at Kuri-Yawi was conducted by GexplOre in late 2024 using the Fullwaver system (from Iris Instruments). The Fullwaver is a distributed acquisition system with each system being fully independent of the other. This drastically reduces the need for cables making it optimal for challenging terrain.

Two different methods were deployed during the geophysical survey:

• Pseudo-3D profiling using 2D DC electrical methods in Pole-dipole configuration with simultaneous measurement of apparent resistivity (ρa) and induced polarization (IP) along eleven profiles, each of 2700 m length; and
  
  
• 3D DC electrical methods over a selected area with simultaneous measurement of apparent resistivity (ρa) and induced polarization (IP) along two grids (0.6 km²).

The collected data was processed and inverted to generate a 3D model of the ground's resistivity and chargeability.

Resistivity and Conductivity

• The resistivity results highlight the different lithologic units with a conductive sedimentary unit to the east and a resistive volcanic unit overlying another conductive unit at depth that could correspond to an alternation of black shale, limestone and volcanic tuff. These facies are known further to the north and are suspected to be a good trap for gold mineralisation. The conductive unit at surface may correspond to the tropically weathered clay level.
  
  
• In the southeastern area, conductive vertical structures are locally present and remain relatively consistently sub-perpendicular along the lines, forming a large vertical conductive corridor. The direction of this corridor is similar to the direction of the chalcedony veins with high grade thallium that was discovered while walking the cut lines on the survey grid.

Fig 1: Resistivity and conductivity image of the Kuri-Yawi target to the south (red is conductive and blue is resistive).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/241623_d76b98eaa4dc1bb5_001full.jpg

Chargeability

The survey returned two main chargeability vertical structures:

• One to the Northwest of the grid extending to a deeper more chargeable model (Fig 2).
  
  
• The others to the south of the grid are associated with the corridor of vertical conductive anomalies (see above). They extend to the depth of the inverted model as one (western area) or two vertical structures (eastern area), forming a single large vertical structure. In the eastern area, the unit is separated into two main vertical structures of high chargeability (Fig 3). In contrast to western anomalies (Fig 2), the maximum chargeability of these structures is observed along the edges of the vertical conductive corridor.

Fig 2: Chargeability in the west area of the grid at Kuri-Yawi (red is high chargeability and blue is low chargeability).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/241623_d76b98eaa4dc1bb5_002full.jpg

Fig 3: Chargeability in the west area of Kuri-Yawi (red is high chargeability and blue is low chargeability).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/241623_d76b98eaa4dc1bb5_003full.jpg

PDAC 2025

Aurania will be attending the Prospector's and Developers International Convention (PDAC) being held March 2^nd - 5th, 2025 at the Metro Toronto Convention Centre (MTCC) in Toronto, Canada. Visit us at booth 2948 in the Investors Exchange located in the MTCC South Building, Level 800. For more information about PDAC and registration, please visit the PDAC website.

Aurania is hosting a meet-and-greet for its shareholders on Sunday, March 2^nd from 5:00pm-8:00pm in Salon 1, 19^th Floor, at The Fairmont Royal York Hotel, 100 Front Street West, Toronto, Ontario.

Due to capacity limitations, we kindly ask that you confirm your attendance no later than 10am ET on February 24th by RSVP to Carolyn: Carolyn.muir@aurania.com

Qualified Persons:

The geological information contained in this news release has been verified and approved by Aurania's VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and 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/, X (formerly Twitter) at https://x.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 TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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/241623

FAQ

What did Aurania's IP survey reveal at the Kuri-Yawi gold target in February 2025?

The IP survey revealed conductive and chargeability anomalies, including a conductive sedimentary unit to the east and a resistive volcanic unit, along with two main chargeability vertical structures that will help determine future drill locations.

How does the siliceous sinter discovery at AUIAF's Kuri-Yawi target relate to Fruta del Norte?

The siliceous sinter discovered at Kuri-Yawi is significant because the Fruta del Norte gold deposit, located 100 km south, also lies beneath a similar siliceous sinter unit, suggesting potential geological similarities.

What geophysical survey methods did AUIAF use at Kuri-Yawi in late 2024?

AUIAF used two methods: Pseudo-3D profiling with 2D DC electrical methods in Pole-dipole configuration along eleven 2700m profiles, and 3D DC electrical methods over two grids covering 0.6 km².

What are the main chargeability structures identified in AUIAF's Kuri-Yawi survey?

The survey identified two main chargeability vertical structures: one in the Northwest extending to a deeper model, and others in the south associated with vertical conductive anomalies forming a single large vertical structure.