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Auryn Resources Inc
Symbol C : AUG
Shares Issued 90,387,816
Close 2019-01-07 C$ 1.23
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Auryn Resources samples up to 8.45% Cu at Milpoc

2019-01-07 08:10 ET - News Release

Mr. Ivan Bebek reports


Auryn Resources Inc. has identified a significant zone of oxide copper mineralization over a 1.2-kilometre strike length and 500-metre width. It is located about 12 kilometres south of Sombrero at the Milpoc prospect. Rock samples have returned copper-oxide mineralization grades ranging from 0.1 per cent to 8.45 per cent and silver grades ranging from 0.06 gram per tonne to 101 g/t (see attached table).

The stratiform mineralization identified at Milpoc is hosted within red bed sediments of the Casapalca formation and is the first mineralization observed stratigraphically above the Ferrobamba formation. The Ferrobamba hosts the known high-grade copper -- gold exo-skarn mineralization at the Sombrero project to the north. This mineralization is preferentially hosted in highly porous sandstone units that typically have a thickness of 10 to 30 centimetres and there are numerous mineralized beds that occur over a 100-metre thickness within the sedimentary sequence.

In addition, the Ferrobamba limestone observed adjacent to the Casapalca formation is characterized by jasperoid silica bodies that are consistent with a distal signature to an intrusive or underlying skarn body at depth. Auryn will continue to evaluate the Milpoc prospect through magnetic surveying in an effort to identify the potential source area of the mineralization.

A message from Michael Henrichsen, chief operating officer and chief geologist

"The high-grade copper-oxide and silver mineralization at Milpoc represents another opportunity within the Sombrero district to discover an additional intrusive centre that could be related to skarn and porphyry mineralization. Our technical group continues to discover new styles of mineralization in different formations that we feel demonstrate a very high level of mineral endowment within this newly emerging district."


Sample            Cu (%)         Ag (ppm)

W654645            8.75              101     
W647834            5.55             52.7    
W647830            4.95               51      
W654649            3.70               41      
W647829            2.79               53      
W647774            2.54               51      
W647833            1.90             37.5    
W647828            1.80             49.4    
W654647            1.71             27.4    
W654650            1.10             36.8    
W647832            0.46             0.39    
W647765            0.39             0.08    
W654641            0.33             1.57    
W647835            0.31             9.85    
W647831            0.29             0.25    
W654643            0.26             13.3    
W654646            0.20             2.28    
W647772            0.11             0.06    

* Approximately two to three kilograms of 
  material were collected for analysis and sent 
  to ALS Lab in Lima, Peru, for preparation 
  and analysis. All samples are assayed 
  using 30-gram nominal weight fire assay with 
  ICP finish (Au-ICP21) and multielement 
  four-acid digest ICP-AES/ICP-MS method 
  (ME-MS61). Where ICP21 results were over three
  grams per tonne Au the assays were repeated with 
  30 g nominal weight fire assay with gravimetric 
  finish (Au-GRA21). Where MS61 results were greater 
  or near 10,000 parts per million copper, 10,000
  ppm lead or 100 ppm silver, the assays were repeated 
  with ore grade four-acid digest method (Cu-OG62). 
  Quality assurance/quality control programs for 2018 
  rock samples using lab duplicates, standards and 
  blanks indicate good accuracy and precision in a 
  large majority of standards assayed. These samples 
  were collected in a non-representative manner. The 
  mineralization may not be reflective of the 
  underlying system.

Mr. Henrichsen is the qualified person who assumes responsibility for the technical disclosures in this press release.

About Auryn Resources Inc.

Auryn Resources is a technically driven junior mining exploration company focused on delivering shareholder value through project acquisition and development. The company's management team is highly experienced with an impressive record of success and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia, and a portfolio of gold projects in southern Peru, through Corisur Peru SAC.

About Sombrero

This project consists of the North Sombrero and South Sombrero properties, comprising approximately 100,000 mineral claims owned or optioned by Auryn Resources. The copper-gold Sombrero mining concessions are located 340 kilometres southeast of Lima in southern Peru and are hosted in the Andahuaylas-Yauri belt. This belt is interpreted to be on the northwestern margins of this Eocene-Oligocene aged copper-gold porphyry and skarn belt that hosts the Las Bambas, Haquira, Los Chancas, Cotambambas, Constancia, Antapaccay and Tintaya deposits. The project is characterized by a strong structural control and significant copper and gold values from historical surface samples. The principle targets at Sombrero are copper-gold skarn and porphyry systems and precious metal epithermal deposits.

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