ST. JOHN'S, NL, May 31, 2023 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") announces that it has entered into an option agreement with Dragon Mining Ltd. ("Dragon") to acquire and eliminate all encumbrances on the Kutuvuoma and Silasselkä projects, originating from the purchase agreement dated May 23, 2014, for a total consideration of €5,000,000 and 37,500 Aurion common shares.
Summary of the terms:
Aurion, in consideration of an initial payment of 37,500 common shares to Dragon, has the exclusive right to acquire and eliminate all remaining encumbrances, including a 3% Net Smelter Return ("NSR") Royalty, for a total consideration of €5,000,000 payable in cash, or shares, or a combination of both, at Aurion's discretion, until September 30, 2023.
The option agreement is subject to acceptance by the TSX Venture Exchange.
About Aurion Resources Ltd.
Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.
On behalf of the Board of Directors,
Matti Talikka, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Aurion Resources Ltd.
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Mark Santarossa, Vice President, Corporate Development, Cell: +1 (416) 371-1325, Email: msantarossa@aurionresources.ca