Mr. Michael Basha reports

AURION DRILLS 789 G/T AU OVER 2.90 M AT AAMURUSKO

Aurion Resources Ltd.'s continuing diamond drilling has intersected significant gold mineralization associated with a major east-west-trending north-dipping structure immediately north of the main Aamurusko boulder field. Aurion Resources believes this shear zone is likely the source of many of the large and auriferous boulders within the main 1.1-kilometre-by-1.4-kilometre Aamurusko boulder field.

A total of approximately 5,239 metres in 35 drill holes have been completed since early July, 2018. Partial assays have been received for 17 drill holes to date. Four targets have been tested, including Aamurusko Main, Aamurusko West, Aamurusko Northwest and A2.

Diamond drilling with two drills continues at Aamurusko. A summary of assay results received to date is presented in the attached table and further discussed herein. Maps, sections and photos can be found on Aurion Resources' website.

Aamurusko Main target

Drilling has confirmed the presence of a gold-bearing quartz vein system in bedrock occurring proximal to the sheared contact between clastic sediments of the Kumpu group and a gabbro sill on the contact between the Kumpu group and mafic as well as ultramafic volcanics of the Sodankyla group.

Beginning at the eastern extent of the main boulder field and moving westward, 11 drill holes on north-to-south fences spaced 25 metres to 50 metres apart were completed to date.

Partial assays have been received from five of 11 drill holes to date. The best result so far has been in hole AM18042, where a 2.9-metre-wide fault fill vein with coarse visible gold was intersected. It assayed 789.06 grams per tonne gold over 2.9 metres from 116.1 metres to 119 metres, including 0.65 metre assaying 3,510 g/t Au. Unfortunately, 1.1 metres of core within this interval was lost in the fault/shear zone. This interval was assigned a value of zero.

AM18035, located 230 metres east of AM01842, encountered multiple extensional vein zones, including a 5.2-metre-wide zone assaying 12.45 g/t Au from 53.5 metres to 58.7 metres downhole, including 66.7 g/t Au over 0.5 metre and 54.3 g/t over 0.49 metre. Further up the hole, a 1.55-metre-wide quartz vein zone from 36.65 metres to 38.20 metres assayed 8.74 g/t Au. From 26.30 metres to 28.04 metres, a 1.74-metre-wide quartz vein zone assayed 9.62 g/t Au.

                                         AAMURUSKO DRILL HOLE SUMMARY  
                                                                           
Hole          From (m)     To (m)     Width (m)     Au (g/t)                                         Comments 

                                             Aamurusko main target

AM18032        151.65     151.97          0.32         1.83
AM18033          68.5       70.5             2         1.45
AM18034         49.76      50.66           0.9         0.85
AM18035          26.3      28.04          1.74         9.62
including        26.3      26.94          0.64         23.3
and             36.65       38.2          1.55         8.74
including       37.18       37.7          0.52         24.8
and              53.5       58.7           5.2        12.45
including        53.5      54.05          0.55         7.46
including        54.5         55           0.5         66.7
including       57.65      58.14          0.49         54.3
AM18036                                             Pending
AM18037                                             Pending
AM18038                                             Pending
AM18042         116.1        119           2.9       789.06                           Partial assays received
including       116.1     116.75          0.65        3,510     1.1 metres of lost core from 116.75 metres to  
                                                                     117.85 metres; assigned a value of 0 ppm
including      117.85        119          1.15         5.89
AM18051                                             Pending
AM18052                                             Pending
AM18053                                             Pending

                                             Aamurusko West target

RB18001                                             Pending
RB18002                                             Pending
RB18003                                             Pending
RB18004                                             Pending

                                           Aamurusko Northwest target

AM18024           227        228             1         4.17
AM18025           136        137             1         0.51
AM18026         181.9      182.5           0.6           25
and             190.3      191.3             1         5.03
AM18027           153        154             1         2.05
and               173        191            18         0.43
AM18028         106.5        107           0.5         0.73
and             168.7      172.9           4.2         1.19
including      171.93      172.9          0.97         2.84
AM18029           152        153             1         2.45
and               175      176.5           1.5         1.86
AM18030            92         93             1         1.07
AM18031        102.13     102.44          0.31         1.57

                                                    A2 target

AM18038                                             Pending
AM18039                                             Pending
AM18040          42.4      42.75          0.35         3.99
AM18041         38.45       38.9          0.45           22
AM18043          31.4      31.78          0.38         1.65
AM18044                                             Pending
AM18045                                             Pending
AM18046                                             Pending
AM18047         37.45      37.83          0.38         4.53                           Partial assays received
AM18048                                             Pending
AM18049                                             Pending
AM18050                                             Pending

Note: All widths are core widths and may not represent true widths. Assay values are uncut.

The veins encountered in drilling are variably mineralized with trace to a few per cent iron oxides (after sulphides), pyrite, arsenopyrite, pyrrhotite, chalcopyrite, galena, sphalerite and/or locally visible gold. The veins are also accompanied by variable amounts/intensity of fuchsite, sericite, potassium feldspar and iron carbonate alteration.

Aamurusko West (RBMV)

Four drill holes on two fences, approximately 30 metres apart, were completed at a new discovery approximately 1.9 kilometres west of the eastern extent of the main Aamurusko boulder field. Mechanical trenching of a cluster of auriferous boulders discovered in 2017 exposed multiple quartz veins up to 1.5 metres wide accompanied by strong iron carbonate alteration. This east-west-trending, steeply north-dipping quartz vein zone was traced in trenching for approximately 40 metres before going under cover. Assays are pending from the channel sampling and drilling. The mineralization is located at the sheared contact between polymictic conglomerate, quartzite and mafic volcanics.

The Aamurusko Northwest prospect

Eight drill holes on five fences were completed over a distance of 185 metres approximately 800 metres west-northwest of the eastern extent of the main Aamurusko boulder field. Assays have been received from all holes. The best assay results came from drill hole AM18026, which returned of 25 g/t Au over 0.6 metre and 5.03 g/t Au over one metre. All drill holes intersected quartz veining with anomalous gold values. Mineralization is hosted by quartz veins in clastic sediments and gabbro.

A2 prospect

Eleven drill holes were completed over a strike of 450 metres approximately 1.2 kilometres to 1.4 kilometres north-northwest of Aamurusko. Three target areas were tested. Partial assays have been received for four of 12 drill holes. The best assay result to date was 22 g/t Au over 0.45 metre from 38.45 metres to 38.9 metres downhole from AM18041. Mineralization is hosted by clastic sediments.

Discussion

The discovery of significant quartz veining in bedrock through trenching and drilling immediately up ice confirms Aurion's original premise that the boulders were not transported significant distances. Furthermore, the identification of gold mineralization associated with a major east-west-trending, north-dipping structure immediately north of the main Aamurusko boulder field is a major breakthrough, as this structure is concealed under talus and overburden along a sharp break in slope. Hundreds of gold-bearing boulders were discovered proximal to the break in slope, which Aurion modelled as a major structure and lithological contact. The presence of veining in drilling and trenching similar to the high-grade boulders on surface exhibiting crack-and-seal textures suggests this shear zone is likely the controlling structure and/or source of many of the large, auriferous boulders within the main 1.1-kilometre-by-1.4-kilometre Aamurusko boulder field.

The discovery of significant quartz veining in drilling 1.9 kilometres apart and open in both directions suggests significant strike length potential. The discovery of high-grade gold mineralization associated with both fault fill veins and extensional veining also indicates multiple gold-enriching events. Additionally, the discovery of auriferous gold mineralization in drill core in multiple targets over a wide area (1.5 kilometres by two kilometres) suggests the mineralizing system at Aamurusko could have considerable scale.

2018 program details

Drilling at Aamurusko has been under way since early July, 2018, and continues with two drills. Initial plans include completing 15,000 metres. Trenching with two excavators continues throughout the property as well.

Structural mapping and lithological mapping are being conducted in conjunction with a detailed UAV (unmanned aircraft vehicle)magnetic survey and, together with drill core data, will be compiled into a 3-D geological model.

Prospecting with a team of six prospectors continues to add significant value. Only 25 per cent of the 15,000-hectare Risti property has been systematically prospected.

"Blind, structurally complex orogenic gold deposits are challenging. However, our work this field season, especially discovering high-grade gold mineralization in drilling, has advanced our understanding of the controls on mineralization significantly," commented Mike Basha, PGeo, PEng, president and chief executive officer. "With approximately $16-million cash in our treasury, we are well funded to advance the Aamurusko discovery and the Risti project into the foreseeable future. This is a very exciting time for Aurion and its shareholders."

Background

The geological setting of the Risti project has many similarities to prolific gold-rich orogenic gold belts globally, specifically the Timmins camp of the Abitibi province of Northern Ontario. The Aamurusko zone appears to be underlain by young unconformable polymictic conglomerates of the Kumpu group. These Kumpu group conglomerates resemble the Timiskaming conglomerates of the Timmins and Kirkland Lake area of the Abitibi province and occur in a similar geo-tectonic setting (both represent the youngest stratigraphic sequence within their respective belts). The Kumpu group and the Timiskaming group were deposited in late orogenic extensional basins. They form in relation to major movement along regional faults or deformation zones. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with the Timiskaming conglomerates (or their equivalents) in close proximity to major regional deformation (fault) zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones. The Kumpu group appears to have been deposited in a similar geological setting adjacent to the Sirkka shear zone, which is a major deformation zone in the Central Lapland greenstone belt. Strong alteration including fuchsite, tourmaline, iron carbonate, albite and quartz veining is seen along the entire length of this structure.

Quality assurance and quality control (QA/QC)

All samples were delivered to ALS Minerals preparation facility in Sodankyla, Finland, where sample preparation work was completed. All analytical work was completed at ALS Minerals' facility in Loughrea, Ireland. ALS Minerals is an internationally accredited lab and is ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All samples were analyzed for gold using the Au-AA26 procedure (50-gram fire assay with AAS finish: lower detection limit 0.01 g/t gold; upper limit 100 g/t gold). Any samples that returned overlimit values (greater than 90 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (greater than 90 g/t gold), were analyzed by Au-SCR24 one kg screen fire assay Au (0.05 to 1,000 ppm) by one kg screen fire assay (50 g nominal sample weight). The sample pulp (one kg) is passed through a 100-micron stainless steel screen. Any material remaining on the screen (greater than 100 microns) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (plus) fraction. The material passing through the screen (less than 100 microns) is homogenized and two subsamples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (minus) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (plus) 100- and (minus) 100-micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample. Multielement analysis (ME-ICP61, four-acid digestion, 35-element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 30 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.

Qualified person

Mr. Basha, a qualified person as defined by National Instrument 43-101, is responsible for the preparation of this release.

We seek Safe Harbor.