Ms. Carolyn Muir reports

AURANIA RESOURCES LTD. COMPLETES $4,438,800 OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

Further to its news releases dated June 1, 2018, June 29, 2018, and July 12, 2018, Aurania Resources Ltd. has completed the second and final tranche of its non-brokered offering of 2,219,400 units of the company by way of a private placement at a price of $2 per unit for total gross proceeds of $4,438,800. The corporation issued an aggregate of two million units in the first tranche of the offering for gross proceeds of $4-million, and an additional 219,400 units were issued in the second tranche of the offering for gross proceeds of $438,800.

Each unit consists of one common share of the company and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of $3 for a period of 18 months following closing of the offering.

The gross proceeds raised from the sale of the units will be used by the company for mineral exploration, which includes continuing the geochemical sampling survey and prospecting that have been successful in discovering several epithermal targets, additional geophysical surveys over specific target areas, and remote sensing, all with a focus on further defining specific drill targets, and for general working capital purposes.

In connection with the offering, the company paid to certain eligible finders compensation consisting of a cash commission of $158,885 and 79,442 compensation warrants. Each finder's compensation warrant is exercisable into one common share at $3 per common share for 18 months following the closing of the first tranche of the offering. There were no compensation fees or warrants paid to finders in connection with the second tranche of the offering.

The units and underlying securities are subject to a customary four-month-and-a-day hold period.

About Aurania Resources Ltd.

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. 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.

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