Mr. Matti Talikka reports

AURION ANNOUNCES BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO CAD$5.0 MILLION

Aurion Resources Ltd. has entered into an agreement with Red Cloud Securities Inc. to act as lead agent and sole bookrunner, on behalf of a syndicate of agents, in connection with a best efforts private placement for gross proceeds of up to $5-million from the sale of up to 9,090,909 common shares of the company at a price of 55 cents per share.

The agents will have an option, exercisable in full or in part up to 48 hours prior to the closing of the offering, to sell up to an additional 1,818,182 shares for additional gross proceeds of up to $1-million.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the shares will be offered for sale to purchasers in all provinces and territories of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The shares issued to Canadian-resident subscribers will not be subject to a hold period under applicable Canadian securities legislation. The shares may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The company intends to use the proceeds from the offering for the advancement of its Risti property in northern Finland, as well as working capital and other general corporate purposes.

The offering is scheduled to close on or around Aug. 7, 2024, or such other date(s) as the company and the agents may agree, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

There is an offering document related to the offering and the use by the company of the listed issuer financing exemption that can be accessed under the company's SEDAR+ profile and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Aurion Resources Ltd.

Aurion Resources is a well-financed, Canadian exploration company. 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 project, as well as advancing its joint venture properties with B2Gold Corp. and Kinross Gold Corp. in Finland.

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