Mr. Ivan Bebek reports

AURYN ARRANGES $1.9 MILLION FLOW-THROUGH FUNDING

Auryn Resources Inc. has arranged a $1.9-million non-brokered flow-through private placement. The placement will consist of approximately 633,334 flow-through common shares priced at $3 per flow-through share.

Ivan Bebek, executive chairman and director, said: "With less than 1-per-cent dilution of our company, we are able to finance the core drilling of some of our highly prospective high-grade gold targets at Committee Bay this summer. We are very excited to further test the efficacy of artificial intelligence, which was utilized to assist in refining our drill targets. Drilling is anticipated to commence in July.

"Additionally, with the completion of this equity financing, Auryn's Canadian portfolio is now fully funded for its 2019 programs."

The company intends to use the net proceeds from the offering to finance its summer exploration program at the Committee Bay gold project in Nunavut.

The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) and will be sold on a charitable flow-through basis. The gross proceeds of the sale of the offering will be used to finance Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) to be incurred by no later than Dec. 31, 2020, for renunciation to investors in the offering effective Dec. 31, 2019.

The shares under the offering will be subject to a four-month hold period and will not be offered or registered in the United States. Closing of the offering is anticipated to occur on or before July 9, 2019, and is subject to customary closing conditions including, but not limited to the negotiation, execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the Toronto Stock Exchange.

About Auryn Resources Inc.

Auryn Resources is a technically driven, well-financed junior exploration company focused on finding and advancing globally significant precious and base metal deposits. The company has a portfolio approach to asset acquisition and has seven projects, including two flagships: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project in southern Peru. Auryn's technical and management teams have an impressive record of successfully monetizing assets for all stakeholders and local communities in which it operates. Auryn conducts itself to the highest standards of corporate governance and sustainability.

About Committee Bay

The Committee Bay gold project is located in Nunavut, Canada. It includes approximately 300,000 hectares situated along the Committee Bay greenstone belt (CBGB). High-grade gold occurrences are found throughout the 300 km strike length of the Committee Bay gold belt with the most significant being the Three Bluffs deposit. The project benefits from existing infrastructure, including bulk storage fuel facilities, five high-efficiency drill rigs and a 100-person camp. The Committee Bay project is held 100 per cent by Auryn subject to a 1-per-cent net smelter royalty (NSR) on the entire project and an additional 1.5-per-cent NSR on a small portion of the project.

We seek Safe Harbor.