Mr. Matti Talikka reports

AURION-B2GOLD JV ANNOUNCES NEW GREENFIELD DISCOVERY

Aurion Resources Ltd. has released results for 12 holes from the 2023 scout drilling program in the Sore area, approximately 38 kilometres northwest of Helmi on the Aurion-B2Gold Corp. joint venture (JV), operated by B2Gold, in the Central Lapland greenstone belt in northern Finland.

Summary

• New greenfield discovery (Sore) in the northwestern part of the JV area;
• Intercepts include:
  • 26.45 grams per tonne gold over 2.45 m from 104.65 m, including 108.50 g/t Au over 0.50 m from 105.80 m; 1.74 g/t Au over 14.10 m from 367.10 m (SOR23010);
  • 1.05 g/t Au over 40.70 m from 38.40 m (SOR23002);
  • 1.33 g/t Au over 17.90 m from 5.40 m (SOR23001).
• Up to 12.55 g/t Au over 0.40 m in trench channel samples;
• No previous drilling within one km of the Sore discovery;
  • 1.7 km from Kettukuusikko prospect (4.33 g/t Au over 20.4 m) and 38 km northwest of Helmi.
• Discovery results pending from 4,000 m of diamond drilling;
• Drilling program halted following the receipt of notice from B2Gold of offer from Rupert Resources to acquire B2Gold's joint venture interest; Aurion considering options regarding right of first refusal (press release, March 11, 2024).

Comments

"A new discovery, greenfield and on a blind target, further highlights the prospectivity of the Aurion-B2Gold 290 square km JV property, and the quality of B2Gold's exploration team. The near-surface mineralization was encountered in pitting and successfully followed by scout drill holes that returned intercepts including 26.45 g/t Au over 2.45 m, 1.05 g/t Au over 40.70 m and 1.33 g/t Au over 17.90 m," commented Matti Talikka, Aurion's chief executive officer.

Scout drill program

This press release contains results for 12 scout holes (2,284.50 m) drilled in the Sore area in the northwestern part of the 290 square km JV property. The Sore discovery is located 1.7 km northwest of Kettukuusikko (4.33 g/t Au over 20.4 m) and 38 km from Helmi. No previous diamond drilling had occurred within one km from the new discovery.

The target generative activities identified the Sore area as prospective for the existence of gold mineralization. The Sore area is located in the vicinity of the Sirkka shear zone, the crustal-scale structure that extends over 125 km. The Sirkka shear zone is considered to play a key role in the emplacement of many of the known gold occurrences within the Central Lapland greenstone belt including, but not limited to, Helmi (Aurion-B2Gold JV), Kutuvuoma (Aurion-B2Gold JV), Kaaresselka (Aurion 100 per cent) and Ikkari (Rupert Resources).

Results are pending for approximately 4,000 m of diamond drilling completed in 2024 on several targets within the JV tenements, including Sore. The drilling program has been halted following the receipt of notice from B2Gold of offer to acquire B2Gold's joint venture interest; Aurion is considering options regarding right of first refusal (press release, March 11, 2024).

Drill hole SOR23001 was collared 25 m northwest of the trench SORTR06 area and drilled to the southeast. The hole targeted a series of mineralized vein trends mapped in the 2023 trenches. Trenches were opened in follow-up to mineralization identified in reconnaissance test pits which were initially dug to follow up on anomalous base-of-till samples. The trenched bedrock was channel sampled and returned up to 12.55 g/t Au over 0.40 m with 35 out of 50 samples returning anomalous (greater than or equal to 0.1 g/t) Au values. The hole successfully intersected mineralization below the trenches along with several other mineralized intervals. Mineralization is hosted by dolomite-biotite altered ultramafic volcanics. Within the altered volcanics, higher grades are associated with massive pyrrhotite breccias and pyrrhotite-chalcopyrite-quartz-dolomite veining. Intercepts include 1.33 g/t Au over 17.90 m from 5.40 m, including 8.39 g/t Au over 1.90 m from 19.10 m, 0.93 g/t Au over 1.85 m from 40.15 m and 1.95 g/t Au over 1.60 m from 45.55 m. Other samples returned anomalous (greater than or equal to 0.1 g/t) Au values.

Drill hole SOR23002 was collared 62.50 m northwest of hole SOR23001 and drilled along profile to the southeast as an approximately 70 m vertical undercut to SOR23001. This hole also intersected several mineralized intervals hosted by the same package of dolomite-biotite altered ultramafic volcanics. Similarly, within the altered volcanics, higher grades are associated with massive pyrrhotite-quartz breccias and pyrrhotite-chalcopyriteplus or minusarsenopyrite-quartz-dolomite vein breccias and less commonly quartz-pyrrhotite-bismuthinite veins. Intercepts include 1.01 g/t Au over 1.05 m from 16.20 m, 1.05 g/t Au over 40.70 m from 38.40 m, 16.25 g/t Au over 0.70 m from 53.75 m and two g/t Au over 0.60 m from 103.90 m. Other samples returned anomalous (greater than or equal to 0.1 g/t) Au values.

Drill holes SOR23003 to 5 were collared 250 m south of the SORTR06 trench area and drilled to the east along a fence. The holes did not intersect any anomalous (greater than or equal to 0.1 g/t) Au values.

Drill hole SOR23006 was collared 80 m northeast of the SORTR07 trench area and drilled to the west. The hole targeted base-of-till geochemical anomalies and anomalous trench channel samples that returned up to 0.64 g/t Au over 1.30 m. The hole intersected a mineralized interval of 0.75 g/t Au over 1.50 m from 55.70 m along with several other samples returning anomalous (greater than or equal to 0.1 g/t) Au values. Mineralization is hosted by sheared, dolomite-sericite altered ultramafic volcanics with quartz-dolomite-pyrite veinlets.

Drill hole SOR23007 was collared 175 m west-northwest of hole SOR23006 and drilled to the west. The hole targeted northwest of hole SOR23006 and the anomalous till and trench samples. The hole intersected a mineralized interval of 0.98 g/t Au over 4.75 m from 28.25 m along with several other samples returning anomalous (greater than or equal to 0.1 g/t) Au values. Mineralization is hosted by dolomite-fuchsite altered ultramafic volcanics with brecciated quartz-dolomite veining and disseminated pyrite and pyrrhotite.

Drill holes SOR23008 and 9 were collared approximately 350 m east of the trench SORTR06 area and drilled to the northwest. The holes targeted anomalous base-of-till samples. The holes intersected numerous samples returning anomalous (greater than or equal to 0.1 g/t) Au values with a best interval of 0.57 g/t Au over one m from 57.00 m in SOR23009. Mineralization is hosted by dolomitized, quartz-carbonate veined, graphitic mudstones with pyrite-pyrrhotite mineralization.

Drill hole SOR23010 was collared 65 m north of hole SOR23001 and drilled to the southeast. The hole targeted mineralization intersected in holes SOR23001 and 2 in a 55 m stepout to the northeast. The hole successfully intersected several mineralized intervals 70 m east of those in SOR23001 along with two new, deeper zones of mineralization. Intercepts include 26.45 g/t Au over 2.45 m from 104.65 m, including 108.50 g/t Au over 0.50 m from 105.80 m, 0.57 g/t Au over 9.10 m from 120 m, 11.50 g/t Au over 0.70 m from 141.25 m, 1.74 g/t Au over 14.10 m from 367.10 m and 0.73 g/t Au over 6.85 m from 390.10 m. The upper, higher-grade interval is hosted by a pyrrhotite-pyrite-chalcopyrite breccia at the contact between graphitic mudstone and dolomitized ultramafic volcanics. The other mineralized intervals, like those in SOR23001 and 2, are hosted by dolomite-biotite altered ultramafic volcanics with variable pyrrhotite plus or minus chalcopyrite plus or minus pyrite plus or minus arsenopyrite-quartz-dolomite veins and vein breccias. Other samples returned anomalous (greater than or equal to 0.1 g/t) Au values.

Drill hole SOR23011 was collared 290 m west-northwest of hole SOR23010 and drilled to the east-southeast. The hole targeted anomalous base-of-till samples. The hole intersected two mineralized intervals returning 0.97 g/t Au over 1.35 m from 31.45 m and 1.25 g/t Au over 1.15 m from 78.85 m. Mineralization is hosted by variably dolomite-sericite-biotite altered ultramafic volcanics with local veining and minor sulphides.

Drill hole SOR23012 was collared 113 m west of hole SOR23011 and drilled to the east. The hole also targeted anomalous base-of-till samples. The hole intersected one anomalous (greater than or equal to 0.1 g/t) Au value. Mineralization is hosted by talc chlorite schist with carbonate veinlets and minor chalcopyrite.

Background

The JV (30 per cent Aurion/70 per cent B2Gold) covers approximately 290 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 77.50 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), Vuoma (28.64 g/t Au over 4.90 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 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 atomic absorption spectroscopy finish: lower detection limit (LDL) 0.01 g/t gold; upper detection limit (UDL) 100 g/t gold). Samples that returned overlimit values (greater than 100 g/t gold) were analyzed by the Au-GRA22 procedure (50-gram fire assay with gravimetric finish: LDL 0.05 g/t gold; UDL 10,000 g/t gold). Select samples received multielement analysis using the ME-MS61L procedure (0.25 gram, four-acid digestion, 48 elements, inductively coupled plasma mass spectrometry). 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 (AU) and the OTCQX Best Market (AIRRF). 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 property, as well as advancing joint venture properties with B2Gold and Kinross in northern Finland.

We seek Safe Harbor.