Mr. Matti Talikka reports

AURION-B2GOLD JV INTERSECTS GOLD MINERALIZATION AT SINERMA PROSPECT

Aurion Resources Ltd. has released results for 16 holes from the winter 2022/2023 drilling program on the Aurion-B2Gold Corp. joint venture (JV), operated by B2Gold, in the Central Lapland greenstone belt in northern Finland.

Summary:

• Gold intersected in shallow drilling over 450 metres of strike length:
  • 0.65 gram per tonne (g/t) gold (Au) over 30.2 m from 3.40 m, including 5.09 g/t Au over 1.25 m (SIN23013);
  • 0.54 g/t Au over 30.2 m from 3.8 m, including 18.55 g/t Au over 0.4 m (SIN23020).
• Sinerma located 29 kilometres west-northwest of Helmi discovery and 23 km south-southeast of Agnico Eagle's Kittila mine:
  • Sinerma mineralization along or in the vicinity of a crustal-scale structure;
  • Similar geologic setting to the Helmi-Kutuvuoma area;
  • Several kilometres of prospective structures remain untested.
• Results pending for approximately 5,000 m of drilling in the JV:
  • Winter drilling program has tested several target areas within the 347 square km JV property.

Comments

"Sinerma is one of several recent discoveries with a growing footprint of gold mineralization. The Sinerma area shares a similar geologic setting with the Helmi discovery, located 29 km away, and hosts kilometres of untested prospective structures," commented Matti Talikka, Aurion's chief executive officer. "Aurion has interest in properties covering approximately 70 km of the crustal-scale structure that is considered to play a key role in the emplacement of the gold mineralization. We are excited by the scale of opportunity during the early stages of the development of a major gold belt."

Figures associated with this release can be found at the company's website.

Winter 2022/2023 drill program

A total of over 8,000 m of diamond core drilling has been completed on the JV properties during the winter 2022/2023 drill campaign. The drill program was designed to test new target areas and the potential extension of a gold mineralized system identified in 2020 in the Sinerma area.

This press release contains results for 16 scout holes (2,192 m) at the Sinerma prospect.

Sinerma

Gold was intersected at shallow depths in multiple holes extending the footprint of the mineralized corridor to approximately 450 m along strike. Intercepts include 0.65 g/t Au over 30.2 m from 3.4 m, including 5.09 g/t Au over 1.25 m (SIN23013) and 0.54 g/t Au over 30.2 m from 3.8 m, including 18.55 g/t Au over 0.4 m (SIN23020).

Sinerma is located approximately 29 km west-northwest of the Helmi discovery and approximately 23 km south-southeast of Agnico Eagle's Kittila mine.

The gold mineralized zones in the Sinerma area were initially identified through base-of-till sampling and geophysical survey programs, which were followed by the excavation of five trenches and drilling of four diamond drill holes. Results from trench channel sampling included 1.07 g/t Au over 42.4 m and 1.3 g/t Au over 20.8 m. A four-hole diamond core drilling program, completed in 2020, returned 0.54 g/t Au over 40.2 m from seven m (SIN20001), 4.11 g/t Au over 1.4 m from 13.5 m (SIN20002) and 6.8 g/t Au over 0.75 m from 110.8 m (SIN20003). See the press release dated Jan. 13, 2021.

The gold mineralized zones are hosted along and in the vicinity of an interpreted regional-scale shear zone within strongly altered (fuchsite plus or minus iron carbonate plus or minus silica) and deformed or brecciated contact zones between ultramafic and mafic volcanic rocks.

Drill holes SIN23005, 6, 8 and 9 were collared along an east-west fence over trench SINTR02, and drilled from east to west. They targeted near-surface mineralization and the potential depth extensions to mineralization encountered in the trench. The holes intersected ultramafic volcanics, talc-chlorite schist, breccia and siltstone. All holes returned anomalous gold (greater than or equal to 0.1 g/t) values, including intervals of 1.68 g/t Au over 4.85 m from 2.5 m, 1.03 g/t Au over 1.05 m from 9.65 m, 0.52 g/t Au over 14.15 m from 11 m and 0.73 g/t Au over eight m from 16.7 m. The significant mineralized intervals are all hosted by ultramafic rocks.

Drill holes SIN23007, 10, 12, 14 and 16 to 18 were collared along an east-west fence 40 m north of trench SINTR02, and drilled from east to west. Most holes targeted the potential depth extensions to mineralization encountered in trench SINTR02. Hole SIN23007 was abandoned. The holes intersected ultramafic volcanics, talc-chlorite schist, breccia and siltstone. All holes, except SIN23014, returned anomalous gold (greater than or equal to 0.1 g/t) values with the best intervals being 1.8 g/t Au over 1.25 m from 15.25 m and 1.19 g/t Au over 0.9 m from 42.85 m. The two better intervals are hosted by ultramafic rocks.

Drill holes SIN23019 and 20 were collared along an east-west fence 110 m north of trench SINTR02, and drilled from east to west. Hole SIN23019 targeted a geo-magnetic contact along strike and down plunge of mineralization in holes SIN23010 and 12. Hole SIN23020 targeted inferred mineralization in siltstone along strike from hole SIN23018. Hole SIN23019 intersected ultramafic volcanics, talc-chlorite schist and sandstone returning anomalous gold (greater than or equal to 0.1 g/t) values with a high of 1.13 g/t Au over 1.40 m from 134 m. Hole SIN23020 intersected ultramafic volcanics, talc-chlorite schist, breccia, siltstone and sandstone. The hole returned a wide interval of 0.54 g/t Au over 30.2 m from 3.8 m (surface), including 18.55 g/t Au over 0.4 m from 21.8 m, along with other anomalous gold (greater than or equal to 0.1 g/t) values.

Drill holes SIN23011, 13 and 15 were collared along a northeast-southwest fence 380 m northwest of trench SINTR02, and drilled from northeast to southwest. The holes targeted anomalous frost-heaved boulders at a magnetic high-low boundary. The holes intersected ultramafic volcanics, talc-chlorite schist, breccia, siltstone and sandstone. All holes intersected zones of anomalous gold (greater than or equal to 0.1 g/t) values, with hole SIN23013 returning the best interval of 0.65 g/t Au over 30.2 m from 3.4 m (surface), including 5.09 g/t Au over 1.25 m from 29.75 m. The mineralization is mainly hosted by ultramafic rocks with trace disseminated pyrite plus or minus chalcopyrite.

Exploration plans for 2023

The planned JV 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 a minimum of 10,500 m of diamond core drilling in various target areas, including the Helmi discovery, the Helmi-Kutuvuoma structural corridor, as well as scout drill holes testing selected geochemical and geophysical targets elsewhere within the extensive (347-square-kilometre) JV property that covers tens of kilometres of the highly prospective major crustal-scale structure, Sirkka shear zone. In addition, generative work including base of till sampling, top of bedrock sampling and geophysical surveys continue during 2023.

Background

The JV (30 per cent Aurion/70 per cent B2Gold) covers approximately 347 square km 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 g/t Au over 77.5 m), Kutuvuoma (16.47 g/t Au over 11 m), Soretiavuoma (48 g/t Au over 1.1 m), Sinerma (0.54 g/t Au over 40.2 m), Kiekeromaa (5.8 g/t Au over five m) and Kettukuusikko (4.33 g/t Au over 20.4 m). B2Gold is the operator of the JV.

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 facilities in Loughrea, County Galway, Ireland, and Rosia Montana, Romania. ALS is an internationally accredited lab and are 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 (atomic absorption spectroscopy) finish: lower detection limit (LDL) of 0.01 g/t gold; upper detection limit (UDL) of 100 g/t gold). B2Gold has an internal QA/QC program involving the insertion of certified standards and blanks into the sample stream. ALS has its own QA/QC 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 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 its 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.