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Aurania Reports High-Grade Copper from a new Target from its Project in Ecuador and Approval of Warrant Extension

ID: 1543476
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(PresseBox) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (?Aurania? or the ?Company? - http://www.commodity-tv.net/c/search_adv/?v=298509

Copper is present as the minerals chalcocite, cuprite and malachite in slabs of fine-grained, bedded tuffs and sedimentary rocks.

Secondary copper minerals have been found in an area of 1km by 1.5km in extent adjacent to the Kirus magnetic target.

Chairman & CEO, Dr. Keith Barron commented, ?It is early days yet, but I believe it is very significant that our geologists are finding secondary copper minerals in proximity to our magnetic targets.y encouraged?.

?Our approach to copper-gold exploration has been to focus our geochemical and prospecting program on targets selected from the airborne geophysics survey that we flew over the whole Project area late last year.

Grab Sample (Rock) Results

Kirus Target

Analysis of the three grab samples of rock from the Kirus target that exceeded the limit of detection of the assay method used for routine exploration (reported in our October 4, 2018 press release) has returned the following values:

39% copper and 54.5g/t silver;

83% copper and 58.8g/t silver; and

28% copper and 48.4g/t silver.

A new grab sample with strong malachite (green mineral in Figure 1) and chalcocite mineralization contains 5.3% copper and 79g/t silver.of strong magnetism represents the principal target at Kirus.

Tsenken Target

A grab sample taken from the magnetic feature that lies 8km from Kirus contains a very high copper grade of 7.1% and moderate silver at 19g/t. As with Kirus, the target at Tsenken is likely to be the strongly magnetic feature (Figure 2).

Jempe Target

The other area in which secondary copper has been encountered is at Jempe, which is centred on areas of strong magnetism.



Sample Analysis & Quality Assurance / Quality Control (?QAQC?)

The samples were prepared for analysis at ALS Global?s (?ALS?) lab in Quito, Ecuador.

Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at intervals of approximately 20 samples in all sample batches.

ALS?s preparation lab in Quito sent the prepared samples to its analytical facility in Lima, Peru for analysis.

Apart from being analyzed by ICP-MS, gold was also analyzed by fire assay with an ICP-AES finish.

ALS reported that the analyses had passed its internal QAQC tests.

Update on Scout Drilling Program

The Company is awaiting one more permit to clear the way for scout drilling of the epithermal gold-silver target at Crunchy Hill.

Qualified Person

The technical information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc.

Clarification Regarding Noble Capital Markets Inc. Agreement

On October 9, 2018, the Company announced that it had entered into a capital markets support agreement (the ?Agreement?) with Noble Capital Markets Inc (?Noble?).1, 2018 (?Commencement Date?) and will terminate on the second anniversary, unless extended as by mutual agreement. After a period of eight (8) months following the Commencement Date, this Agreement may be terminated by either party at any time, with or without cause, upon 30 days? prior written notice to the other party.

Warrant Term Extension Approved by TSX Venture Exchange

The TSX Venture Exchange has consented to the extension of 1,069,909 non-broker warrants in relation to the Company?s 2017 private placement financing.

Original expiry date of warrants: October 19, 2018, subject to accelerated expiry provision;

New expiry date of warrants: October 19, 2019, subject to accelerated expiry provision; and

Exercise price of warrants: C$3.00.

About Aurania

Aurania is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter athttps://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

In Europe:

Swiss Resource Capital AG

info(at)resource-capital.ch

www.resource-capital.ch

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania?s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as ?believes?, ?anticipates?, ?expects?, ?estimates?, ?may?, ?could?, ?would?, ?will?, or ?plan?. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management?s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, 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 and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Aurania?s public documents filed on SEDAR. Although Aurania 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. Aurania 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.



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Date: 11/02/2018 - 10:44
Language: English
News-ID 1543476
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Firma: Swiss Resource Capital AG
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