Mr. Matti Talikka reports

AURION ANNOUNCES UPSIZE OF BROKERED PRIVATE PLACEMENT TO UP TO CAD$6.5 MILLION

Due to significant investor demand, Aurion Resources Ltd. has increased the size of its previously announced fully marketed private placement from $5-million to $6.5-million from the sale of up to 11,818,182 common shares of the company at a price of 55 cents per share.

Red Cloud is acting as lead agent and sole bookrunner on behalf of a syndicate of agents under the offering. The company has granted the agents 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 2,727,273 shares for additional gross proceeds of up to $1.5-million. If the agent's option is exercised in full, the aggregate gross proceeds of the offering will be approximately $8.0-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 of the 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 U.S. 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, receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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

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 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 project, as well as advancing its joint venture properties with B2Gold Corp. and Kinross Gold Corp. in Finland.

We seek Safe Harbor.