Dr. Keith Barron reports

AURANIA APPLIES FOR EXPLORATION LICENSE IN BRITTANY, FRANCE

Aurania Resources Ltd. has applied for an exploration licence in the Brittany peninsula of northwestern France through a wholly owned French subsidiary. The concession area, which includes Hennebont in the Morbihan department, has historically been the site of significant high-grade gold finds. Placer gold in streams is present in the vicinity of the area.

In December, 2022, a very large and high-grade gold specimen was displayed at the Museum National d'Histoire Naturelle (Natural History Museum) in Paris, France. Museum staff estimates this sample of 3.31 kilograms weight to contain one kilo of gold; it is considered the highest-grade gold sample currently known in France. It consists of vuggy coarse white quartz and native gold. Gold within the vugs is crystalline in nature . The sample is displayed next to a dendritic crystalline gold sample from the same locality.

Aurania's team became aware of the sample last year and approached the museum staff as to its origins and provenance. The company was told the samples were purchased by the Banque de France and were on loan to the museum and that they supposedly came from an old collection. Museum staff supplied Aurania with an article from the Journal du Morbihan, a newspaper dated Aug. 13, 1875, and entitled "Le quartz aurifere dans le Morbihan," and an extract from a book published by L'Abbe Henry Breuil, described in Wikipedia as a "French Catholic priest, archeologist, anthropologist, ethnologist and geologist" and one of the principal early investigators of the cave paintings at Lascaux. Mr. Breuil examined a sample weighing 1,400 grams "with a little adhering quartz" that was found in 1875 and acquired by a jeweller. The son of the jeweller said his father had also purchased a nugget of 800 grams at the same time. The newspaper article said that two pieces of auriferous quartz were discovered by road builders 400 metres apart and that one was broken into a piece weighing 117 grams and a piece weighing about 900 grams. A third piece of 1,470 grams was found separately and purchased by the jeweller. The description continued: "These ores are gold-bearing quartz, very rich in gold, even excessively so. This gold is not compact, it is crystalline."

Aurania's president and chief executive officer, Dr. Keith Barron, met with a collector, who wishes to remain anonymous, at the Sainte-Marie-aux-Mines mineral show in Alsace in June, 2023, who allowed him to examine a one-kilogram specimen of quartz vein material with abundant gold that he claims comes from the same locality in France. The sample closely resembles the museum sample and given the estimated grade of 46 per cent per cent gold (460,000 grams per tonne, or 13,416 ounces/ton Au) it is almost certainly from the same locality.

A visit to the locality in December, 2022, showed abundant quartz vein material on surface and evidence of past mining activity. Part of the site contains deep water-filled pits and trenches that were presumably dug in the 19th century. Growth of moss on the quartz rocks is considered luxuriant and there is no evidence of modern prospecting or mining activity in the area. There has been no glaciation at the site and so the quartz vein material at surface is more or less in situ.

Update on Ecuador

On July 31, Dr. Barron will meet with Mines Minister of Ecuador, Fernando Santos, to discuss the potential workaround mentioned in the company's press release dated June 19, 2023, to recover part or all of the former reserved areas that were initially applied for in 2016, and contain a large number of discrete magnetic, porphyry-type targets.

At the same time, and in tandem with its exploration project and activities in Ecuador, the company is excited to actively pursue this extraordinary new gold exploration opportunity in Brittany, France, mentioned above.

Qualified person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc, vice-president, exploration, of the company. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania Resources Ltd.

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, the Lost Cities-Cutucu project, is located in the Jurassic metallogenic belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

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