Mr. Matti Talikka reports

AURION SIGNS DEFINITIVE OPTION AGREEMENT WITH KINROSS ON THE LAUNI EAST PROPERTY

Aurion Resources Ltd. has signed a formal definitive option agreement with Kinross Gold Corp., granting Kinross the right to earn up to an undivided 70-per-cent interest in the 42.74-square-kilometre Launi East property, which is located to the southeast and adjacent to the company's 100-per-cent-owned Risti property.

Figures associated with this release can be found on the company's website.

Under the terms of the agreement, Kinross can earn a 70-per-cent undivided interest in the Launi East property by incurring a minimum of $10-million (U.S.) in exploration expenditures on or before the seventh anniversary of the agreement dated Aug. 21, 2023. Subject to receiving all necessary permits for a drilling program, Kinross has agreed, as a firm obligation, to incur a minimum of $2-million (U.S.) in exploration expenditures on, or before, the second anniversary of the agreement.

Should Aurion's interest in the joint venture be diluted down to 10 per cent or less, Aurion's interest will be converted to a 2-per-cent net smelter return (NSR) royalty on the property. Kinross may purchase one-half of the royalty to reduce the royalty to 1 per cent of net smelter returns for $2-million (U.S.).

"We are pleased to extend our excellent working relationship with Kinross and their first-class exploration team on the Launi East property," commented Matti Talikka, Aurion's chief executive officer. "The company staked the Launi East property in 2018 and has since completed a significant amount of surface, geophysical, geochemical work on the property, as well as limited drilling. We welcome the Kinross team to build upon the work completed and unlock value from the property."

Silaskaira property

Kinross has informed the company on the termination of the Silaskaira option agreement. Aurion will regain full ownership of the property and related data.

About Aurion Resources Ltd.

Aurion is a well-financed, Canadian exploration company listed on the TSX Venture Exchange (AU) and the OTCQX Best Market (AIRRF). Aurion's strategy is to generate or acquire early-stage precious metal 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.