Dr. Richard Spencer reports

AURANIA EXTENDS HIGH-GRADE COPPER-SILVER ZONE AT ANOTHER TARGET IN ECUADOR

Aurania Resources Ltd. has provided information on additional sedimentary-hosted high-grade copper-silver in the Kirus target area in its Lost Cities-Cutucu project in southeastern Ecuador. Sedimentary-hosted mineralization has now been found over an area of eight kilometres by three km, with grades of up to 6.1 per cent copper and 51 grams per tonne (g/t) silver recorded in recent sampling.

Dr. Keith Barron, chairman and chief executive officer of Aurania, commented: "While our last few press releases have focused on high-grade copper and silver from various targets in the Tsenken area, we've also been working in the Kirus target area six kilometres to the south. I'm delighted to report that sedimentary-hosted copper and silver have been encountered over an extensive area there too. At Tsenken, one large target area is resolving into specific targets that will be drill tested shortly; in the same way, we expect that ongoing work at Kirus will lead to the definition of specific targets to be tested by scout drilling."

Additional sampling of boulders and outcrop at Kirus has doubled the size of the area over which high-grade copper-silver has been found since the initial press release on the target, dated April 9, 2019. As is the case with other sedimentary-hosted copper-silver targets identified in the project, the principal copper-bearing minerals are malachite, chrysocolla, tenorite and chalcocite, in sedimentary layers that contain carbonized, fossilized plant fragments.

The high-grade samples are from an area adjacent to the conspicuous, five km diameter magnetic feature that initially drew exploration attention to the Kirus area. Intrusive and subvolcanic rocks ranging from magnetic, porphyritic basaltic-trachyandesite to monzonite have been mapped in outcrop over part of the Kirus magnetic feature. The magnetic centre is a target for copper porphyries. Porphyries are typically about one km in diameter, so a geophysical feature that is approximately 20 square kilometres in extent may contain a porphyry cluster. Soil sampling is under way to identify areas of copper enrichment that may reflect underlying porphyry mineralization.

Sample analysis and quality assurance/quality control (QAQC)

Laboratories: The rock samples were prepared for analysis at MS Analytical (MSA) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw crushed to 10 mesh (crushed material passes through a mesh with apertures of two millimetres), from which a one-kilogram subsample was taken. The subsample was crushed to a grain size of 0.075 mm and a 200-gram split was set aside for analysis.

Analytical procedure: Approximately 0.25 g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS. For the overlimit samples, those that had a grade of greater than 1 per cent copper and 100 g/t silver, 0.4 gram of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QA/QC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania's analysis of results from its independent QA/QC samples showed the batches reported on above, lie within acceptable limits. In addition, the labs reported that the analyses had passed their internal QA/QC tests.

Qualified person

The technical information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania Resources Ltd.

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities-Cutucu project, is located in the Jurassic metallogenic belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

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