Mr. Mike Basha reports

AURION OPTIONS OUTA PROJECT IN FINLAND TO KINROSS

Aurion Resources Ltd. has signed a non-binding letter of intent with Kinross Gold Corp., giving Kinross the right to earn up to 70 per cent of the Outa project.

The deal

Under the terms of the LOI Kinross must spend $5-million (U.S.) over five years to earn a 70-per-cent interest in the project. Kinross has agreed to complete a firm $1-million (U.S.) exploration expenditure over the first two years. The transaction is subject to Kinross completing its due diligence investigations, the requisite corporate approvals of each party and the execution of a definitive agreement. The definitive agreement is currently being negotiated and drafted.

The project

The Outa project covers approximately 15,000 hectares in the Central Lapland greenstone belt of northern Finland. It is primarily underlain by meta-sedimentary rocks (polymictic conglomerates and quartzites) of the Kumpu Group in a setting similar to Aurion's Risti project. Aurion acquired the project following the discovery of the Aamurusko gold prospect in late 2016.

Mike Basha commented: "We are pleased to be furthering our relationship with Kinross by advancing the Outa project with them. This is a further endorsement of our exploration strategy in the CLGB. Optioning some of our approximately 200,000 ha portfolio allows us to focus our resources on Risti and Aamurusko, while having partners like Kinross advance other projects."

Aurion also announces that the board has approved the granting of 1,892,370 stock options to directors, officers, employees and consultants priced at $1.10 per share. In accordance with the company's stock option plan, the stock options will vest in two tranches over 12 months and are valid for five years.

About Aurion Resources Ltd.

Since the discovery of the Aamurusko prospect in late 2016, Aurion has consolidated a commanding land position in the CLGB, completed three financings (including a $16-million financing with Kinross) with no warrants and completed a maiden drill program at Aamurusko. Additionally Aurion has made multiple new high-grade surface discoveries across the Risti project including the Notches and K2 (see Sept. 14, 2017, press release) in the past year. A total of 2,757 rock samples assaying an average of 10.1 grams per tonne Au have been collected across the Risti project. Aurion has a strong balance sheet with approximately $20-million in cash, and is well positioned to continue exploring Aamurusko, refining and testing other drill targets at Risti and for advancing other projects in its portfolio. Aurion has an existing joint venture with B2Gold on its Kutuvuoma project which B2Gold is operating.

Mike Basha, PEng, PGeo, president and chief executive officer of Aurion, a qualified person as defined by National Instrument 43-101, is responsible for the preparation of this release.

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