The company will offer to shareholders of record on Feb. 4, 2019, rights to purchase common shares of the company. One right will be issued for every one common share held. Fourteen rights and $2.70 are required to purchase one common share. The expiry date for the rights offering is March 6, 2019, at 5 p.m. Toronto time. As at Jan. 28, 2019, the company had 32,915,316 common shares issued and outstanding.

Effective at the opening, Friday, Feb. 1, 2019, the common shares of the company will trade ex rights and the rights will commence trading at that time on a when-issued basis. The company is classified as a gold and silver ore mining company.

Summary

Basis of offering:  One right will be issued for every one common share held. Fourteen rights will be exercisable for one common share at $2.70 per common share.

Record date:  Feb. 4, 2019

Shares trade ex rights:  Feb. 1, 2019

Rights called for trading:  Feb. 1, 2019

Rights trade for cash:  March 1, 2019 (Trading in the rights shall be for cash for the three trading days preceding the expiry date.)

Rights expire:  March 6, 2019, 5 p.m. Toronto time

Trade dates:  March 1, 2019, to settle March 4, 2019; March 4, 2019, to settle March 5, 2019; March 5, 2019, to settle March 6, 2019; March 6, 2019, to settle March 6, 2019

The rights will be halted at noon on March 6, 2019, and will be delisted at the close of business on the same day.

Rights trading symbol:  ARU.RT

Rights Cusip No.:  G06974177

Rights agent:  TSX Trust Company -- Toronto

Authorized jurisdictions:  all provinces and territories of Canada

For further details, please refer to the company's rights offering circular dated Jan. 28, 2019.

The company's rights offering circular has been filed with and accepted by the TSX Venture Exchange.