Mr. Matti Talikka reports

AURION DRILLS 29.10 G/T AU OVER 3.10 M AND EXPANDS GOLD MINERALIZED SYSTEM AT KAARESSELKA ON THE WHOLLY OWNED RISTI PROPERTY

Aurion Resources Ltd. has released results for nine holes from the 2024 drilling program at the Kaaresselka area of its wholly owned Risti property located in the Central Lapland greenstone belt in northern Finland.

• Gold mineralized system expanded in multiple directions at the Vanha prospect;
• Gold intersects include 29.10 grams per tonne Au (gold) over 3.10 metres, 3.35 g/t Au over 9.85 m, 2.77 g/t Au over 9.00 m, 3.92 g/t Au over 5.65 m, 1.00 g/t Au over 16.60 m and 2.32 g/t Au over 4.05 m;
• Follow-up drilling at Vanha and testing selected scout drill targets planned for 2024;
• Aurion is fully financed for all planned activities.

Summary

• Gold mineralized system expanded in multiple directions at the Vanha prospect in the Kaaresselka area:
  • 29.10 g/t Au over 3.10 m from 20.10 m (KS24079), 100 m north of the Vanha Main trend;
  • 3.35 g/t Au over 9.85 m from 259.75 m (KS24079), extending the mineralized system to depth by 50 m in the western part of the Vanha Main trend;
  • 2.77 g/t Au over 9.00 m from 85.30 m and 2.32 g/t Au over 4.05 m from 114.05 m (KS24081), 3.92 g/t Au over 5.65 m from 64.90 m (KS24080), extending the mineralized system 100 m toward west;
  • 1.00 g/t Au over 16.60 m from 99.30 m (KS24076) in the eastern part of the mineralized system;
  • Drilling continues to intersect broad zones of strongly deformed and hydrothermally altered rocks;
  • Gold intersected over 600 m along strike and to 200 m depth at Vanha -- open in all directions.
• Follow-up drilling at Vanha and testing selected scout drill targets planned for 2024;
• Aurion is fully financed for all planned activities.

Comments

"The potential for a significant mineralized system at Kaaresselka continues to increase with each program. All six holes drilled at the Vanha prospect (Kaaresselka area) intersected gold, including intervals of 29.10 g/t Au over 3.10 m, 3.35 g/t Au over 9.85 m and 2.77 g/t Au over 9.00 m, and expanded the mineralized system in multiple directions," commented Matti Talikka, Aurion chief executive officer. "Aurion is fully funded for planned exploration activities including follow-up drilling at Kaaresselka and testing selected scout drill targets within our 100-per-cent-owned Risti property."

Kaaresselka prospect

Aurion drilled nine holes, totalling 2,034.40 m, in the Kaaresselka area. The holes targeted interpreted structural features with an aim to identify and/or extend the gold mineralized system.

All six holes drilled at the Vanha prospect and reported in this press release intersected zones of gold mineralization. According to the recent results, the Vanha mineralized system is interpreted to extend 100 m toward west and deeper in the western part of the Vanha trend. In addition, high-grade mineralization was intersected at shallow depths 100 m north of the Vanha Main trend. All Vanha holes intersected broad zones of strongly deformed and hydrothermally altered rocks associated with gold mineralization.

The gold mineralized system at Vanha is interpreted to extend over 600 m along strike and to at least 200 m depth. The gold mineralization is open along strike and at depth. Scout drill holes, which intersected gold up to 1.8 km to the west and 600 m to the east of the Vanha prospect (press release Nov. 13, 2023), highlight the potential for an extensive gold mineralized system in the Kaaresselka area.

The Kaaresselka area is located 15 km east of the recent Vuoma discovery (28.64 g/t Au over 4.90 m) by Aurion-B2Gold JV (joint venture), along the mainly unexplored, structural corridor that extends over 25 km within Aurion's fully owned Risti property and the JV with B2Gold.

The gold mineralization at Vanha is mainly hosted by highly deformed and altered (silica, sericite, albite) mafic volcanic and metasedimentary rocks with minor to moderate amounts of fine-grained sulphide minerals including pyrite, pyrrhotite, chalcopyrite, galena, sphalerite and arsenopyrite in varying quantities. The higher-grade intervals are mainly hosted within silicified and brecciated zones with a moderate amount of sulphides. Elevated levels of base metals, including copper, were encountered in several holes.

The geologic setting and the style of mineralization at Kaaresselka resembles several recent and past discoveries such as Helmi (Aurion-B2Gold JV) and Ikkari (Rupert Resources) as well as the past-producing Saattopora mine.

Drill hole descriptions

Scout hole KS24073 is located 1.3 kilometres west of the Vanha area. The hole was drilled to the southeast and targeted geophysical features along the interpreted domain boundary. KS24073 did not intersect elevated gold (greater than or equal to 0.1 g/t) values.

Scout hole KS24074 is located 1.4 km west of the Vanha area and was collared on section 115 m northwest of KS24073. The hole was drilled to the southeast and targeted geophysical features along the interpreted domain boundary. KS24074 intersected several elevated gold (greater than or equal to 0.1 g/t) values including 0.48 g/t Au over 0.65 m from 72.00 m in a visible gold-bearing quartz vein near the interpreted domain boundary.

Scout hole KS24075 is located 1.4 km southwest of the Vanha area. The hole was drilled to the northwest and targeted geophysical features. KS24075 did not intersect elevated gold (greater than or equal to 0.1 g/t) values.

Drill hole KS24076 is located in the eastern Vanha area and was collared 52 m north of KS23071. KS24076 intersected a mineralized interval of 1.00 g/t Au over 16.60 m from 99.30 m including 1.78 g/t Au over 7.70 m from 103.40 m. Other samples with elevated gold (greater than or equal to 0.1 g/t) were also intersected.

Drill hole KS24077 is located in the western Vanha area and was collared 40 m northeast of KS23035. KS24077 intersected several mineralized intervals such as 3.61 g/t Au over 1.10 m from 73.20 m and 1.36 g/t Au over 1.60 m from 187.05 m. Other samples with elevated gold (greater than or equal to 0.1 g/t) were also encountered.

Drill hole KS24078 is located in the western Vanha area and was collared 44 m northeast of KS23039. KS24078 intersected several mineralized intervals such as 0.45 g/t Au over 1.05 m from 212.05 m and 0.53 g/t Au over 3.30 m from 249.60 m. Other samples with elevated gold (greater than or equal to 0.1 g/t) were also encountered.

Drill hole KS24079 is located in the western Vanha area and was collared 43 m northeast of KS23070. KS24079 intersected several mineralized intervals such as 29.10 g/t Au over 3.10 m from 20.10 m, 2.80 g/t Au over 0.80 m from 237.80 m and 3.35 g/t Au over 9.85 m from 259.75 m including 18.15 g/t Au over 1.60 m from 268.00 m. Other samples with elevated gold (greater than or equal to 0.1 g/t) were also encountered. The intercept of 29.10 g/t Au over 3.10 m from 20.10 m is located approximately 100 m north of the Vanha Main trend. The intercept of 3.35 g/t Au over 9.85 m from 259.75 m is interpreted to extend the mineralized system 50 m deeper in the western part of the Vanha Main trend.

Drill hole KS24080 is located in the western Vanha area and targeted the interpreted domain boundary. KS24080 intersected numerous mineralized intervals such as 3.92 g/t Au over 5.65 m from 64.90 m including 12.50 g/t Au over 1.50 m from 66.40 m and 0.51 g/t Au over 10.35 m from 79.80 m. Other samples with elevated gold (greater than or equal to 0.1 g/t) were also encountered. The intercepts are located approximately 100 m west of previous intercepts at Vanha.

Drill hole KS24081 is located in the western Vanha area, was collared on section 69 m south of KS24080 and targeted the interpreted domain boundary. KS24081 intersected numerous mineralized intervals such as 0.52 g/t Au over 6.65 m from 22.45 m, 2.77 g/t Au over 9.00 m from 85.30 m including 20.40 g/t Au over 0.90 m from 87.30 m and 2.32 g/t Au over 4.05 m from 114.05 m including 8.19 g/t Au over 1.05 m from 117.05 m. Other samples with elevated gold (greater than or equal to 0.1 g/t) were also encountered. The intercepts are located approximately 100 m west of previous intercepts at Vanha.

Quality assurance and quality control

All drill core samples were delivered to the ALS preparation facility in Sodankyla, Finland, where sample preparation work was completed. All analytical work was completed at ALS facilities in Loughrea, Ireland, and Rosia Montana, Romania. ALS is an internationally accredited lab and is ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). Samples were analyzed for gold using either the Au-AA26 procedure (50 g fire assay with AAS finish: lower detection limit (LDL) 0.01 g/t gold; upper detection limit (UDL) 100 g/t gold) or they were analyzed for gold, platinum and palladium using the PGM-ICP24 procedure (50 g fire assay with ICP-AES finish: LDL 0.001 g/t gold, 0.005 g/t platinum, 0.001 g/t palladium; UDL 10 g/t gold, 10 g/t platinum, 10 g/t palladium) or the PGM-ICP23 procedure (30 g fire assay with ICP-AES finish: LDL 0.001 g/t gold, 0.005 g/t platinum, 0.001 g/t palladium; UDL 10 g/t gold, 10 g/t platinum, 10 g/t palladium). Select samples were analyzed by Au-SCR24 one-kilogram, screen fire assay Au (0.05 to 1,000 ppm) by one kg screen fire assay (50 g nominal sample weight). The sample pulp (one kg) is passed through a 100-micrometre stainless steel screen. Any material remaining on the screen (greater than 100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (plus) fraction. The material passing through the screen (less than 100 micron) is homogenized and two subsamples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (minus) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (plus) 100 and (minus) 100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample. Multielement analysis (ME-ICP61, four-acid digestion, 35-element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 10 samples. ALS has its own QA/QC (quality assurance/quality control) protocol using standards, blanks and duplicates.

This news release has been reviewed by Andrew Hussey, PGeo, GIS geologist and database manager for Aurion Resources, a qualified person as defined by National Instrument 43-101.

About Aurion Resources Ltd.

Aurion Resources is a well-financed 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 the company's experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Risti project, as well as advancing its joint venture properties with B2Gold Corp. and Kinross Gold in Finland.