Mr. Michael Basha reports

AURION DISCOVERS EXTENSIVE NEW GOLD MINERALIZATION AT ITS LAUNI EAST PROJECT IN NORTHERN FINLAND

Aurion Resources Ltd. has discovered multiple new gold prospects over a greater-than-five-kilometre distance at its 100-per-cent-owned Launi East project in northern Finland.

Highlights:

• 248 rock sample assays received to date assayed as high as 313 grams per tonne gold and averaged 18.9 g/t Au;
• Multiple new mineralized zones over one km by 5.5 km area, with 10 new visible gold occurrences;
• Mineralization associated with strong alteration from 10 metres to greater than 100 metres wide;
• Assays have been received for 248 samples to date, greater than 650 rock sample assays pending;
• Trenching, ground geophysics and detailed mapping are under way;
• No documented history of mineral exploration or mineral claims in the area;
• Property straddles a major flexure along the Sirkka shear zone.

Summary

Follow-up of the 2018 discovery of gold mineralization at Aurion's wholly owned 4,250-hectare Launi East project has resulted in the discovery of several new zones of gold mineralization over a north-south distance of 5.5 km within a one km wide corridor. Strong alteration, locally from 10 m to greater than 100 m wide, comprising fuchsite, tourmaline, sericite, iron oxide and iron-carbonate is associated with the gold mineralization.

Individual zones can be traced for greater than 100 m to 300 m in outcrop and suboutcrop, and are generally several metres wide. Approximately 900 rock grab samples were collected within this 5.5 square km area. Overburden (glacial till) cover is generally less than two m thick within this area.

Partial assays have been received from two of these new zones, over a distance of approximately 700 m. Two hundred fourteen of the 248 rock samples assayed from nil to 313 g/t Au, averaging 21.75 g/t Au with a median grade of 6.03 g/t Au. Eight samples assayed greater than 100 g/t Au, 34 assayed greater than 50 g/t Au, 50 assayed greater than 31 g/t Au, 79 assayed greater than 15 g/t Au and 111 assayed greater than five g/t Au. They are further discussed herein.

Kookoo zone

Located approximately 200 m northwest of the Christmas zone a total of 134 rock grab samples from angular boulders and suboutcrop over an area greater than 250 m by 150 m assayed from nil to 313 g/t Au, averaging 31.59 g/t Au with a median grade of 15.43 g/t Au. Mineralization comprises stockwork, breccia and massive quartz veins with coarse euhedral pyrite and locally visible gold.

Christmas zone

This mineralized zone, which is up to several metres wide and has been traced for greater than 130 m, was discovered in outcrop in late 2018. At that time, 52 rock samples collected from angular boulders and outcrop, assayed from nil to 74.3 g/t Au, averaging 10 g/t Au (see press release dated Feb. 12, 2019). During the current field season, an additional 61 rock samples were collected from this zone assaying from nil to 85.8 g/t Au, averaging 6.93 g/t Au with a median grade of 0.57 g/t Au. Mineralization primarily comprises stockwork, breccia and massive quartz veins with heavy disseminated to massive bands of iron oxide (hematite) up to 30 cm wide along with pyrite and trace visible gold in the quartz veins.

Discussion

The mineralized zones identified at Launi to date appear to show lateral continuity along strike and individual zones can be traced for up to 300 m. Visible gold, where observed, is generally very fine. This may suggest the gold has a high fineness further evidenced in minor variability between standard fire assay and screen fire assay results for the same samples.

Several other new zones of mineralization identified on the attached figure will be discussed in future news releases when assays are received. Visible gold was observed in several of these.

These showings are located within less than one km of a major flexure in the greater than 125 km long regional scale Sirkka shear zone, a major regional fault zone, which the property straddles. The GTK's (Geological Survey of Finland) work suggests this is a tectono-stratigraphic boundary between the Archean and Proterozoic terranes. In metallogenic terms this is an ideal location for the siting of orogenic gold deposits.

The Launi East project lies approximately eight km to 10 km south of the Risti project, 10 km west-northwest of Sodankyla and is easily accessed by gravel roads. The property has had no documented history of mineral exploration or mineral claims.

The sampling to date is preliminary in nature and consists primarily of grab samples of suboutcrop, outcrop and quartz boulders in glacial till. Although every effort is made to ensure that the samples are representative, the very nature of this type of sampling involves natural variations and inconsistencies. Insufficient work has been carried out to date in order to determine the source of many of the mineralized quartz boulders.

Comment

"The discovery of extensive new gold mineralization in another project area with no history of mineral exploration again demonstrates how underexplored the Central Lapland greenstone belt (CLGB) and the Sirkka shear zone are," commented Mike Basha, president and chief executive officer. "Moreover, the high rate and number of surface discoveries we are making both at Launi and Risti suggests large-scale hydrothermal systems at play, demonstrating the huge unrealized potential of the CLGB."

Background

The geological setting of the Launi East project has many similarities to prolific gold-rich orogenic gold belts globally, including the Timmins camp of the Abitibi province of Northern Ontario. Aurion has landholdings covering approximately 80 km of the Sirkka shear zone. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with major regional fault zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones. The Sirkka shear zone has many hallmark characteristics as these belts which have produced many millions of ounces of gold, however it lacks the history of systematic gold exploration.

Quality assurance and quality control

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 are 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 atomic absorption spectroscopy finish: lower detection limit -- 0.01 g/t gold; upper limit -- 100 g/t gold). Any samples that returned overlimit values (greater than 100 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (greater than 1.5 g/t gold) were analyzed by Au-SCR24 one kilogram, screen fire assay Au (0.05 part per million 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 inductively coupled plasma atomic emission spectroscopy) 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.

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

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