Mr. Matti Talikka reports

AURION GIVES NOTICE OF EXERCISE OF OPTION TO REPURCHASE ROYALTIES ON MAJOR PROPERTIES

Further to its news releases dated May 31, 2023, July 10, 2023, and July 31, 2023, Aurion Resources Ltd. has given Dragon Mining Ltd. notice of its intent to exercise the option to acquire and eliminate all encumbrances on the Kutuvuoma and Silasselka properties for a total consideration of five million euros.

Summary of the terms

The notice stated that Aurion will, on the date that it exercises the option, pay Dragon five million euros, as follows:

• Four million euros in cash, of which B2Gold Corp. has agreed to contribute 3.5 million euros (see press release dated July 31, 2023);
• One million euros in Aurion common shares. A total of 2,415,410 shares will be issued, based on the 10-day volume-weighted average price of 61 cents/share and a euro:Canadian dollar exchange rate of 1.4734. The shares will be subject to a statutory hold period of four months from closing.

Upon exercising the option, Aurion will acquire and eliminate all remaining encumbrances on the Kutuvuoma and Silasselka properties, including a 3-per-cent net smelter return (NSR) royalty on both properties.

Aurion anticipates that closing will occur on Sept. 8, 2023, and will make an announcement following closing.

About Aurion Resources Ltd.

Aurion is a well-financed, Canadian exploration company listed on the TSX Venture Exchange and the OTCQX Best Market. Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by its 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.