Mr. Arthur Brown reports

ASTORIUS ENTERS INTO OPTION AGREEMENT TO ACQUIRE STRATEGICALLY-LOCATED CONDOR GOLD PROJECT IN SOUTHEAST ECUADOR

Astorius Resources Ltd. has entered into an option agreement to acquire 100 per cent of the shares of Lateegra Ecuador SA, title holder of the Condor gold property in southeast Ecuador, from Condor Mines SA (CMSA). The Condor property represents a group of strategically located mineral claims surrounded entirely by the 75,000-hectare Fruta del Norte concession, Lundin Gold's flagship asset, where mineral production is expected to begin in first quarter 2020.

Astorius Resources, on signing of the option agreement, will issue 500,000 restricted common shares and pay $50,000 (U.S.) in cash, subject to TSX Venture Exchange and regulatory approval.

The Condor property is one of the few remaining claim blocks in the Fruta del Norte concession area not held by Lundin Gold. The claims also lie within the recognized Ecuadorian copper belt, just six kilometres south of EcuaCorriente's Mirador, Panantza and San Carlos advanced copper projects.

"The Lateegra-Condor acquisition represents a significant milestone for Astorius," said Sandy MacDougall, Astorius's chairman of the board. "Not only is Condor valuable for us from a strategic standpoint due to its location, geologically it's highly prospective in relation to Fruta del Norte. Condor's alluvial potential also aligns with our strategy of striving for near-term production of high-value minerals."

Astorius is now updating the existing NI 43-101 technical report on the Condor concession. A new report is expected early in 2017.

Lateegra Ecuador originally purchased the Condor claims from Freddy Salazar, an Ecuadorean geologist who was instrumental in identifying the Fruta del Norte land package held originally by Aurelian Resources, then Kinross Gold and now Lundin Gold. Mr. Salazar spent 10 years working as an in-country geologist for Newmont Gold and subsequently for Aurelian Resources.

The Condor concession is covered by strongly altered and oxidized intrusive rocks with presence of limonite veins and some brecciated bull-quartz sections with sericitic alteration. The property is underlain by strongly altered intermediate porphyritic intrusive rocks containing weathered sericitic/chloritic alteration. Veins up to four metres wide of tectonically brecciated crystalline quartz with iron oxides have been intersected in nearby trenches by Aurelian Resources.

The technical information contained in this news release has been reviewed and approved by Chris Cherrywell, QP, who is a qualified person with respect to the Condor property as defined under NI 43-101.

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