Ms. Carolyn Muir reports

AURANIA APPOINTS CORPORATE SECRETARY AND PROVIDES HIGHLIGHTS FROM YEAR END FINANCIAL STATEMENTS

Aurania Resources Ltd. has appointed Carolyn Muir as corporate secretary of the company, in addition to her role as vice-president, corporate development and investor relations. The company also reports that its financial statements and management discussion and analysis for the year ended Dec. 31, 2024, are available under Aurania's public filings on SEDAR+ and on the company's website. Highlights are described below.

Highlights from management discussion and analysis

During the fourth quarter of 2024, the company advanced drill target definition at its Kuri-Yawi gold target through detailed geophysical surveys and geological mapping. Preliminary results show a large vertical conductive corridor aligned with thallium-rich chalcedony veins, sinters and hydrothermal alterations -- key indicators of epithermal systems. Two main chargeability structures were identified, interpreted as potential mineralized zones. Continuing data integration will guide preparations for a future drill campaign.

The Anaconda mapping program at the Awacha porphyry copper target area was completed during 2024. Initial geological reconnaissance has confirmed an area of interest through the observation of porphyric intrusive showing potassic and sericite alteration with the presence of quartz veins with chalcopyrite traces. Next steps will consist of an interpretation of all the data collected with the realization of thematic maps to define the most prospective area of interest.

During 2024, Aurania's CSR (corporate social responsibility) activities supported clean water access, education and women's entrepreneurship across the communities in its areas of influence in Ecuador, including the launch of a microbusiness program, school and library construction, and community-based training initiatives.

The Swiss challenge and public consultation phases associated with the application for a 51-square-kilometre exploration permit -- located immediately adjacent to the South Armorican shear (cisaillement sud-armoricain) in the Brittany peninsula of northwestern France -- have now been completed, and the company continues to advance through the progress of the application.

The company signed non-binding memoranda of understanding with the communes of Ogliastro and Nonza in Cap Corse, northern Corsica, France, for the exploitation of heavy mineral beach placers that are highly enriched in nickel and other metals. The nickel-bearing mineral in the black magnetic sand is awaruite, a naturally occurring nickel-iron alloy, which is both of high specific gravity (dense) and of high magnetic susceptibility (magnetic).

AuroVallis, the wholly owned Swiss subsidiary of Aurania, completed the liquidation process initiated several years on June 30, 2024, with no impact on the company's consolidated financial figures.

On Sept. 23, 2024, Palamina Corp. completed the acquisition of 100 per cent of the shares of Aurania's Peruvian subsidiary in exchange of 350,000 common shares of Palamina and a 1-per-cent net smelter return (NSR) royalty over certain mining claims located in Peru and held by the company's subsidiary. Palamina has the option to buy back half of the NSR royalty for $1-million at any time.

During 2024, the company completed two non-brokered private placements totalling $5,429,481 in gross proceeds, with units priced at 20 cents and 45 cents, each including one common share and one warrant. Proceeds were used to advance exploration activities and working capital. To preserve cash and improve the balance sheet, the company settled $3,812,781 in debt owed to Dr. Keith Barron through the issuance of common shares. Additionally, the company received a $1-million unsecured loan from Dr. Barron to support continuing operations.

The company reached an agreement with the corresponding Ecuadorean authorities for the payment of the annual concession fees of its 42 mineral exploration concessions in Ecuador for 2024. Subsequent to year-end, the company filed all the appropriate documentation for the renewal of its 42 mineral exploration concessions in Ecuador for 2025 and filed a request to enter into a new agreement for payment of the associated annual concession fees. Its property in Ecuador remains in good standing while an agreement is being finalized.

Subsequent to year-end, on April 3, 2025, the company announced its intention to complete a non-brokered private placement financing of up to five million units of the company at a price of 30 cents per unit for total gross proceeds of up to $1.5-million. On April 17, 2025, the company announced the closure of the first tranche. An aggregate of 3,182,899 units were sold under the first tranche for total gross proceeds of $954,870. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant having an exercise price of 55 cents per common share and an expiry date of two years after closing of the first tranche. Dr. Barron subscribed for one million units of this offering.

Option grant

On April 24, 2025, Ms. Muir was granted 130,000 stock options exercisable at 27 cents each in connection with her appointment as corporate secretary and her existing roles as vice-president, corporate development and investor relations of the corporation. The options have a five-year expiry term and shall vest one-third immediately, one-third one year from the date of grant and one-third vesting two years after the date of grant.

Qualified person

The technical information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is 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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