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Aurania reports new gold target along trend of the Kirus copper zone in its project in Ecuador

ID: 1544498
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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=298400) reports that gold and pathfinder elements typical of epithermal systems have been detected in stream sediments from an area about 5 kilometres (?km?) long in the Tinchi target in the Company?s Lost Cities Cutucu project (?Project?) in southeastern Ecuador.

Aurania?s President, Dr. Richard Spencer commented, ?Many epithermal gold-silver deposits throughout the world have a close genetic relationship with porphyry copper or copper-gold deposits. copper porphyries flow, evolve and cool to form epithermal gold-silver deposits.?

?The recognition of linked epithermal and porphyry systems confirms that we are in ?elephant country? ? it highlights the potential for the Project to contain very large deposits,? said Dr. Keith Barron, Aurania?s Chairman and CEO.

Tinchi Target

Gold occurs in streams draining an area approximately 3km long that is flanked by streams with elevated levels of pathfinder elements such as tellurium and arsenic at higher elevations from an area a further 2km long (Figure 1).rite, chalcocite and cuprite, and likely represents part of a secondary copper blanket as discussed in the Company?s news release issued on November 1, 2018.

Next Steps

The recognition of linked porphyry-epithermal targets represents a breakthrough in the exploration of the Project area since it dictates that precious metal exploration should focus on the structural corridors in which porphyry systems, conspicuous in the regional geophysics, were emplaced.

Additional stream sediment sampling will be undertaken to refine the area of enrichment of pathfinder elements and will be followed by ridge and spur soil sampling to better-define the location and shape of the target at Tinchi.


Status of Permits for Scout Drilling

The Company is awaiting the final permit for scout drilling of the epithermal gold-silver target at Crunchy Hill.

Update on Exploration Conference Call

Aurania will be hosting a webcasted conference call on Monday, December 3rd, 2018 at 11:00am ET to provide an update on exploration:

Webcast URL: http://services.choruscall.ca/links/aurania20181203.html

When prompted, webcast participants enter: First Name, Last Name, Company, Email Address.

PARTICIPANT TELEPHONE NUMBERS

Canada/USA Toll Free: 1-800-319-4610

Toronto Toll: +1-416-915-3239

UK Toll Free: 0808-101-2791

Callers should dial in 5 ? 10 min prior to the scheduled start time and ask to join Aurania?s conference call.

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

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

Stream sediment samples were wet-sieved through a 20 mesh (0.84mm) screen in the field and placed in cloth bags so that excess water could drain.S for analysis.

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

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

Stream sediment: a 0.5g split of the -80 mesh fraction of the stream silt underwent digestion with aqua regia and the liquid was analyzed for 48 elements by ICP-MS; and

Rock: approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS. For the over-limit samples, those that had a copper grade of greater than 1%, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

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.

Qualified Person

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

Option Grant

The Company granted a total of 1,260 stock options to a consultant on November 26, 2018.

About Aurania

Aurania is a junior mineral exploration 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-.

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: 11/28/2018 - 07:24
Language: English
News-ID 1544498
Character count: 11638
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