Mr. Matti Talikka of Aurion reports

AURION-B2GOLD JV DISCOVERS NEW GOLD-COPPER MINERALIZATION ALONG HELMI-KUTUVUOMA TREND

Aurion Resources Ltd. has released results for 14 holes from the summer/fall 2022 drilling program on the Aurion/B2Gold Corp. joint venture, operated by B2Gold, in the Central Lapland greenstone belt in northern Finland.

Summary:

• New zone of mineralization two kilometres west of the Helmi discovery:
  • 6.25 grams per tonne gold over 6.00 metres from 222.60 metres; and 0.26 gram per tonne gold and 1.07 per cent copper over 12.80 metres from 162.90 metres (KUE22028);
  • 1.02 grams per tonne gold and 1.84 per cent copper over 5.60 metres from 97.40 metres and 0.55 gram per tonne gold and 1.16 per cent copper over 4.20 metres from 105.80 metres (KUE22033);
  • New mineralized zones located two kilometres west of Helmi Main zone and four kilometres east of Kutuvuoma prospect (historic drill holes including 11.4 grams per tonne gold over 13.3 metres) along the structural corridor;
• Gold intercepts at the western part of the Helmi discovery:
  • 1.56 grams per tonne gold over 24.80 metres from 159.00 metres (KUE22027);
• $10.4-million joint venture budget for 2023:
  • Aurion fully financed to contribute to maintain 30-per-cent interest in the joint venture;
  • Active winter drilling season continuing with three drill rigs;
  • Results for five 2022 drill holes are pending.

Comments

"The discovery of gold and copper mineralized zones two kilometres west from the Helmi discovery and four kilometres east from the Kutuvuoma prospect (historic drill holes including 11.4 grams per tonne gold over 13.3 metres) demonstrates the opportunity for further discoveries along the prospective structural corridor," commented Aurion's chief executive officer, Matti Talikka. "With a budget of $10.4-million, 2023 will be another active year of exploration for the JV with an aim to expand the identified mineralized zones at Helmi and Kutuvuoma and to make new discoveries within the 331-square-kilometre property located at the core of an emerging gold belt."

Summer/fall 2022 drill program

The summer/fall drill program is a follow-up to the successful 2022 winter/spring drill program. The approximately 11,000-metre program, commenced in June, was designed to further test the strike and depth extensions of the mineralized zones at Helmi and regional targets identified from the geophysical and geochemical surveys.

This press release contains results for 14 holes (4,353.20 metres) that targeted the western part of the Helmi discovery, the structural corridor to the west of Helmi and several other regional targets. Gold mineralization was intersected in eight out of 14 holes. The holes are in the western part of Helmi, two kilometres along strike to the west of Helmi, 3.4 kilometres to the northwest of Helmi and 3.3 kilometres to the south of Helmi. Results for five holes drilled in late 2022 remain pending.

New zone of gold-copper mineralization

The new zones of gold-copper mineralization, including 6.25 grams per tonne gold over 6.00 metres, 1.02 grams per tonne gold and 1.84 per cent copper over 5.60 metres and 0.26 gram per tonne gold and 1.07 per cent copper over 12.80 metres, were intersected two kilometres west of the main Helmi zone and four kilometres east of the Kutuvuoma prospect along the same structural corridor that hosts Ikkari, Helmi and Kutuvuoma. The drill holes targeted selected geochemical, geophysical and geological targets. See the following for descriptions of drill holes.

Helmi discovery

The Helmi discovery is located approximately 1.3 kilometres west of Rupert Resources' 4.56-million-ounce Ikkari discovery. The Helmi area covers an approximately two-kilometre strike length of the eight-kilometre-long sequence of prospective geology along a domain boundary in the eastern part of the joint venture property extending from the Ikkari discovery to the Kutuvuoma prospect.

The Helmi discovery was made during the second half of 2021 and drilling has returned a number of significant intercepts, including 2.05 grams per tonne gold over 77.50 metres, 1.84 grams per tonne gold over 52.40 metres, 2.44 grams per tonne gold over 43.45 metres, 0.82 gram per tonne gold over 108.10 metres, 1.73 grams per tonne gold over 44.95 metres, 1.42 grams per tonne gold over 30.70 metres, 1.42 grams per tonne gold over 30.60 metres, 1.46 grams per tonne gold over 39.00 metres, 1.46 grams per tonne gold over 28.70 metres, 1.45 grams per tonne gold over 35.50 metres, 1.11 grams per tonne gold over 45.80 metres and 2.05 grams per tonne gold over 18.30 metres. The main mineralized system at Helmi extends over a one-kilometre strike length along the prospective structural corridor and remains open along strike and at depth.

Mineralization at Helmi is mainly hosted by strongly deformed and biotite-chlorite-plus-or-minus-magnetite-altered, quartz-carbonate-magnetite veined ultramafic rocks and mafic tuffs with fine-grained veinlet and disseminated pyrite. Gold mineralization has also been encountered in sedimentary rocks across the domain boundary.

Drill hole KUE22027 was collared in the western part of Helmi, 100 metres south from KUE21008 (0.71 gram per tonne gold over 36.00 metres) and was drilled from south to north as an undercut. KUE22027 intersected 0.59 gram per tonne gold over 5.60 metres from 149.70 metres and 1.56 grams per tonne gold over 24.80 metres from 159.00 metres, potentially representing an extension to an interpreted mineralized shoot.

Drill hole KUE22028 was collared along the structural corridor 2,000 metres to the west of Helmi and was drilled from south to north. KUE22028 intersected 0.26 gram per tonne gold with 1.07 per cent copper over 12.80 metres from 162.90 metres, 0.47 gram per tonne gold over 10.65 metres from 180.75 metres and 6.25 gram per tonne gold with 0.24 per cent copper over 6.00 metres from 222.60 metres. The lower mineralized zone is hosted by a brecciated, silicified and sheared siltstone with pyrrhotite, pyrite and chalcopyrite mineralization.

Drill hole KUE22029 was collared in the western part of Helmi, 200 metres to the south from KUE22025 (0.50 gram per tonne gold over 18.00 metres) and was drilled from north to south as a scissor hole. KUE22029 intersected 0.59 gram per tonne gold over 2.75 metres from 113.25 metres in a tourmaline-bearing breccia at the contact between mafic tuff and talc chlorite schist.

Drill holes KUE22030, KUE22031 and KUE22032 were collared along the structural corridor 1,500 metres to 2,300 metres to the west of Helmi and were drilled from south to north. All three drill holes intersected anomalous gold (greater than 0.1 gram per tonne gold).

Drill hole KUE22033 was collared along the structural corridor 1,800 metres to the west of Helmi and was drilled from south to north as an undercut to KUE22031. KUE22033 intersected 1.02 grams per tonne gold with 1.84 per cent copper over 5.60 metres from 97.40 metres and 0.55 gram per tonne gold with 1.16 per cent copper over 4.20 metres from 105.80 metres.

Drill hole KUE22034 was collared along the structural corridor 2,300 metres to the west of Helmi and was drilled from south to north. KUE22034 intersected anomalous gold (greater than 0.1 gram per tonne gold).

Drill hole KUN22001 was collared 3,300 metres to the northwest of Helmi and was drilled from north to south. This hole targeted the downdip extension of mineralization discovered in 2021 trench KUETR05, which returned an assay of 2.85 grams per tonne gold over 3.90 metres in a channel sample. KUN22001 intersected 0.60 gram per tonne gold over 6.15 metres from 69.00 metres.

Drill hole KUN22002 was drilled from north to south as an undercut hole to KUN22001. KUN22002 intersected anomalous gold (greater than 0.1 gram per tonne gold).

Drill hole KU22009 was collared 550 metres southeast of the Kutuvuoma prospect and was drilled to the northwest. The hole targeted an interpreted fold nose/closure of the Kumpu basin. The hole intersected saprolite and a highly disrupted zone of gabbro, metasediments, diorite and volcanics. One sample returned an anomalous gold (greater than 0.1 gram per tonne gold) value.

Drill hole VUO22001 was collared 3,300 metres to the south of Helmi and was drilled from north to south. This hole targeted a BOT (base-of-till) anomaly. The hole intersected sediments with abundant evidence for brecciation and fluid flow, but no anomalous gold (greater than 0.1 gram per tonne gold) values were intersected.

Drill hole VUO22002 was collared 100 metres to the south of VUO22001 and was drilled to the southwest. This hole also targeted a BOT anomaly. The hole also intersected sediments with abundant evidence for brecciation and fluid flow. Several anomalous gold (greater than 0.1 gram per tonne gold) values were intersected with a high of 0.49 gram per tonne gold over 1.40 metres from 126.50 metres.

Drill hole VUO22003 was collared 110 metres to the east of VUO22002 and was drilled to the southwest. Also targeting a BOT anomaly, the hole intersected anomalous gold (greater than 0.1 gram per tonne gold) values, including a wider interval of 0.14 gram per tonne gold over 21.50 metres from 99.30 metres. This interval is hosted by polymictic conglomerate with disseminated and veinlet pyrite within a larger package of sediments.

Exploration plans for 2023

The planned venture budget for 2023 is $10.4-million, representing B2Gold's largest greenfield exploration budget outside western Africa. Aurion is fully financed to contribute its 30-per-cent share of the planned expenditure.

The exploration plans include minimum of 10,500 metres of diamond core drilling in various target areas, including the Helmi discovery, the Kutuvuoma-Helmi structural corridor, as well as scout drill holes testing selected geochemical and geophysical targets elsewhere within the extensive (331-square-kilometre) joint venture property that covers tens of kilometres of the highly prospective major crustal-scale structure -- the Sirkka shear zone. In addition, generative work, including base-of-till sampling, top-of-bedrock sampling and geophysical surveys, continues during 2023.

Winter drilling season is continuing with three drill rigs operating in selected target areas.

Background

The joint venture (30 per cent Aurion/70 per cent B2Gold) covers approximately 331 square kilometres along the major crustal-scale Sirkka shear zone in the Central Lapland greenstone belt and includes a number of discoveries such as Helmi (2.05 grams per tonne gold over 77.50 metres), Kutuvuoma (16.47 grams per tonne gold over 11.0 metres), Soretiavuoma (48 grams per tonne gold over 1.1 metres), Sinerma (0.54 gram per tonne gold over 40.2 metres), Kiekeromaa (5.8 grams per tonne gold over 5.0 metres) and Kettukuusikko (4.33 grams per tonne gold over 20.4 metres). B2Gold is the operator of the joint venture.

Quality assurance and quality control

All samples were delivered to ALS preparation facility in Sodankyla, Finland, where sample preparation work was completed. Analytical work for these samples was completed at ALS's facilities in Loughrea, County Galway, Ireland, and Rosia Montana, Romania. ALS is an internationally accredited lab and is ISO compliant (ISO 9001:2008, ISO/IEC 17025:2017). Samples were analyzed for gold using the Au-AA26 procedure (50-gram fire assay with AAS finish: lower detection limit (LDL) of 0.01 gram per tonne gold; upper detection limit (UDL) of 100 grams per tonne gold). B2Gold has an internal quality assurance/quality control program involving the insertion of certified standards and blanks into the sample stream. ALS has its own quality assurance/quality control protocol using standards, blanks and duplicates.

This news release has been reviewed by Andrew Hussey, PGeo, GIS (geographic information system) 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 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 the company's experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its fully owned Risti and Launi projects as well as advancing joint venture properties with B2Gold and Kinross in northern Finland.

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