Mr. Matti Talikka reports

AURION AND KOBOLD METALS SIGN CRITICAL MINERALS EXPLORATION AGREEMENT

Aurion Resources Ltd. has signed a definitive agreement with KoBold Exploration Finland Oy, a wholly owned subsidiary of KoBold Metals Company, granting KoBold the right to earn an undivided 75-per-cent interest in an area covering approximately 35 square kilometres in the eastern portion of Aurion's 100-per-cent-owned 160-square-kilometre Risti property (the project area). Aurion retains the rights to explore for and develop any portions of the project area where the predominant mineral in a discovery is gold or silver.

Key terms:

• Earn-in: KoBold can earn an undivided 75-per-cent interest in commodities discovered in the project area (other than any discoveries that are predominantly gold or silver) by incurring $12-million (U.S.) in exploration expenditures on or before the fifth anniversary of the date of signing the agreement, and KoBold commits to a $1-million (U.S.) minimum exploration expenditure within 18 months.
• Joint venture: Following satisfaction by KoBold of the earn-in requirements, a joint venture will be established with KoBold owning 75 per cent and Aurion 25 per cent.
• Net smelter returns royalty: In case an ownership interest in the joint venture is diluted to below 10 per cent, the ownership interest will be converted to a 2-per-cent net smelter returns royalty.
• Aurion retains full ownership rights over areas within the project area where the predominant mineral in a discovery is gold or silver and has the right to continue exploration activities in the project area during the earn-in phase and the joint venture phase as long as it holds an ownership interest.

"Aurion is pleased to welcome KoBold Metals as a partner with an aim to unlock value from the base metal and critical mineral potential of the eastern part of the Risti property," commented Matti Talikka, Aurion's chief executive officer. "The agreement with a split commodity structure enables Aurion to retain full exploration and ownership rights over significant gold and silver discoveries while leveraging KoBold's expertise in exploration for metals and minerals important for the green energy transition. The base metal prospectivity of the region is well evidenced by the Kevitsa Ni-Cu-PGE mine (Boliden) and the Sakatti Ni-Cu-PGE discovery (Anglo American) located 12 km from the Risti property."

"We welcome the opportunity to work with Aurion to explore for critical metals on part of their Risti property. Aurion is a reputable, experienced company with strong operating capabilities. We look forward to combining these experiences and operating capabilities with KoBold's team and technologies to search for a new discovery on this property. We are looking forward to getting the exploration teams on the ground in the coming months," said Daniel Enderton, KoBold Metals chief strategy officer.

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 the company's 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.