Aurelius Announces Non-Brokered Equity Financing of Up To $1.25 Million and Also Announces Additional High Grade Results with Channel 944L-042 Yielding 365g/t Au Over 2.0m, Including 1,425 g/t Au Over 0.5m

·19 min read

Highlights from Underground Channel Sampling Program

  • - Significant gold mineralization identified in north limb of 944 Level ("944L")

  • - Demonstrates excellent continuity of gold grades between north and south limbs

  • - 944L demonstrates substantial amounts of gold were left in the floor and walls of the development.

    • Highlighted samples from the 944L include

      • Channel 944L-024, grading 34.6 g/t Au over 1.6 metres (m),

        • Including 90.5 g/t Au over 0.6m;

      • Channel 944L-026, grading 14.6 g/t Au over 1.6m,

        • Including 35.8 g/t Au over 0.6m;

      • Channel 944L-029, grading 13.3g/t Au over 1.1m,

        • Including 23.9 g/t Au over 0.6m;

      • Channel 944L-032, grading 21.2 g/t Au over 3.7m,

        • Including 54.2 g/t Au over 1.4m;

      • Channel 944L-030, grading 16.1 g/t over 2.3m,

        • Including 59.1 g/t Au over 0.6m;

      • Channel 944L-042, grading 365 g/t over 2.0m,

        • Including 1,425 g/t Au over 0.5m;

      • Channel 944L-043, grading 14.0 g/t Au over 1.6m,

        • Including 52.6 g/t Au over 0.6m.

  • - Gold mineralization from channels in 944L is not currently represented in the resource model and offers a significant opportunity for improvement. Results were received after the resource cutoff date. There are no reported resources in that zone in the recently released resource.

Toronto, Ontario--(Newsfile Corp. - August 12, 2022) - Aurelius Minerals Inc. (TSXV: AUL) (OTCQB: AURQF) (the "Company" or "Aurelius") announces that it intends to complete a non-brokered private placement offering (the "Offering") consisting of (i) common shares of the Company ("Common Shares") at a price of $0.10 per Common Share and common shares which will qualify as "flow-through shares" (as defined in subsection 66(15) of the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $0.12 per Flow-Through Share. The aggregate gross proceeds of the Offering will be up to $1.25 million.

The Company has received conditional approval for the offering, subject to completion on or before September 9, 2022, unless a further extension is granted by the TSXV.

This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will be not be registered under the United States Securities Act of 1933 as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

The net proceeds from the sale of Common Shares will be used by the Company for corporate and general working capital purposes, and an amount equal to the gross proceeds from the sale of Flow-Through Shares will be used to incur eligible "Canadian exploration expenses" as defined under the Income Tax Act (Canada) related to the Canadian properties of the Company, on or before December 31, 2023. The Company will renounce to the purchasers of the Flow-Through Shares such Canadian exploration expenses with an effective date of not later than December 31, 2022.

Underground Channel Sampling Program

Aurelius is also pleased to report results from its on-going underground channel sampling program at its flagship Aureus East Project in Nova Scotia, Canada. Focused channel sampling programs on 944L have been completed along the north and south limbs which are exposed in the existing underground development infrastructure. The gold mineralization in the 944L channels offer a significant opportunity to add new high-grade mineralization to the current mineral resource for Aureus East and potential to increase the gold resource.

Aurelius Minerals CEO, Mark Ashcroft, said, "These results, including the highest grade we have encountered to date, continue to demonstrate the extent and continuity of gold in this mineral system. In the 944L channel sampling, we have not just demonstrated the consistent nature of the gold mineralization in the south limbs along the strike of the drift, we have also demonstrated the continuity along the north limb system, on the opposite side of the drift. The diligent work of our exploration team continues to expand and improve the understanding of the very significant Aureus East gold system."

944 Level Gold Zone

The gold mineralization sampled through the 944L channel sampling program has demonstrated strong grade continuity and is an important zone since it is not included in the mineral resource estimate for Aureus East and offers potential for resource growth. The channels are cut 2 metres apart into the floor of the underground development. The north channels are located on the opposite (north) side of the underground development and approximately 5 to 7m away from the previously reported south channels. Each channel location is surveyed and sampled following our quality assurance and quality control (QAQC) procedures and can be included in future resource estimation work. Significant factors about the zone include:

  • - High gold grades

    • Average of all 182 channel samples is 17.8 g/t Au (length weighted, uncapped)

    • Highest grades encountered at Aureus East Project to date

      • 1,425 g/t Au in channel 944L-042

      • 501 g/t Au in channel 944L-023 (see press release dated April 28, 2022)

  • - Strong gold continuity

    • 24 of 43 channels had samples over 10 g/t Au

    • 20 samples from 19 distinct channels had grades over 30 g/t Au

  • - Ideally positioned for resource growth

    • Located 120m from the surface

    • Surface drilling can potentially expand the gold mineralization into the limbs

    • Limbs of other zones are up to 100m in length both to the north and south

The locations of the channels are displayed in Figure 1, which shows strong continuity of significant gold intercepts that were not included in the mineral resource estimate to date. The continuity of the results along strike has the potential to expand the resource in the future. Figure 2 displays the multiple areas where the channel sampling program has been completed to date. Figure 3 shows a photo of the highest grading gold sample to date which displays coarse visible gold from channel 944L-042 of underground within existing development on the 944L. This sequence of channel samples highlights the continuity of high-grade gold mineralization left in the underground development.


 
Figure 1. Section showing 944L Channel sampling program.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7140/133578_72c5019e9460cbbb_002full.jpg


 
Figure 2. Long section showing locations of channel sampling programs.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7140/133578_72c5019e9460cbbb_003full.jpg


 
Figure 3. Coarse visible gold in channel sample 944L-042 grading 1,425 g/t Au over 0.5m.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7140/133578_72c5019e9460cbbb_005full.jpg

Next Steps

Building on the positive results seen to date, the channel sampling program has been expanded to other areas to refine the geological model and potentially identify additional gold mineralization outside of the mineral resource.

Currently an expanded campaign of sampling, relogging and potentially re-interpreting the historical core is also underway at Forest Hill and Aureus East. At Forest Hill, 7 holes have been relogged and 408 new samples covering 376m have been taken. At Aureus East, there is over 10,000m of unsampled historical core in the vicinity of the near surface mineral resources. Sampling of this core will assist in refining the near surface geological model and potentially identify overlooked gold mineralization and define new drill targets.

Table 1. Channel sample locations, lengths and orientations

Location

Channel ID

Easting

Northing

Elevation

Length

Azimuth

Dip

940E

AE-CHN-940E-001

547,887

4,979,903

-69

2.60

155

1

940E

AE-CHN-940E-002

547,891

4,979,904

-69

2.60

168

0

940E

AE-CHN-940E-003

547,895

4,979,905

-69

2.70

172

3

940E

AE-CHN-940E-004

547,898

4,979,906

-69

2.85

167

2

940E

AE-CHN-940E-005

547,904

4,979,907

-69

2.75

158

7

940E

AE-CHN-940E-006

547,906

4,979,908

-69

3.00

164

4

940E

AE-CHN-940E-007

547,909

4,979,908

-69

2.20

299

88

940E

AE-CHN-940E-008

547,910

4,979,908

-69

1.95

39

82

940E

AE-CHN-940E-009

547,914

4,979,909

-70

2.05

105

88

940E

AE-CHN-940E-010

547,918

4,979,909

-70

2.00

190

6

940E

AE-CHN-940E-011

547,921

4,979,910

-70

2.60

172

5

940E

AE-CHN-940E-012

547,924

4,979,910

-70

2.65

176

5

940E

AE-CHN-940E-013

547,929

4,979,910

-71

2.15

163

16

940E

AE-CHN-940E-014

547,889

4,979,904

-69

2.50

165

4

940E

AE-CHN-940E-015

547,893

4,979,905

-69

2.50

171

0

940E

AE-CHN-940E-016

547,897

4,979,906

-69

3.00

170

3

940E

AE-CHN-940E-017

547,912

4,979,909

-69

1.90

176

13

940E

AE-CHN-940E-018

547,916

4,979,909

-70

2.85

182

19

940E

AE-CHN-940E-019

547,927

4,979,910

-70

2.25

176

13

940E

AE-CHN-940E-020

547901

4979908

-69

4.5

170

4

940E

AE-CHN-940E-021

547902

4979907

-69

2.9

170

0

940E

AE-CHN-940E-022

547913

4979910

-70

2.9

178

4

940E

AE-CHN-940E-023

547894

4979907

-68

7.75

85

-3

940E

AE-CHN-940E-024

547909

4979908

-69

3.1

246

-10

940R

AE-CHN-940R-001

547,891

4,979,947

-62

3.50

170

1

940R

AE-CHN-940R-002

547,893

4,979,938

-62

2.00

165

-1

944L

AE-CHN-944L-001

547,828

4,979,891

-58

1.60

314

69

944L

AE-CHN-944L-002

547,826

4,979,891

-59

1.55

350

78

944L

AE-CHN-944L-003

547,824

4,979,891

-59

2.50

168

11

944L

AE-CHN-944L-004

547,822

4,979,891

-59

2.50

161

16

944L

AE-CHN-944L-005

547,820

4,979,890

-59

3.15

149

10

944L

AE-CHN-944L-006

547,818

4,979,889

-59

2.30

340

86

944L

AE-CHN-944L-007

547,816

4,979,888

-59

3.00

151

14

944L

AE-CHN-944L-008

547,814

4,979,887

-59

2.75

147

4

944L

AE-CHN-944L-009

547,814

4,979,886

-59

2.30

326

76

944L

AE-CHN-944L-010

547,811

4,979,885

-59

3.00

149

20

944L

AE-CHN-944L-011

547,810

4,979,883

-59

2.35

330

77

944L

AE-CHN-944L-012

547,809

4,979,882

-59

2.50

169

88

944L

AE-CHN-944L-013

547,807

4,979,881

-59

2.50

124

88

944L

AE-CHN-944L-014

547,805

4,979,880

-59

2.40

124

88

944L

AE-CHN-944L-015

547,803

4,979,880

-59

2.35

145

9

944L

AE-CHN-944L-016

547,801

4,979,879

-59

2.10

147

7

944L

AE-CHN-944L-017

547,799

4,979,879

-58

2.00

156

20

944L

AE-CHN-944L-018

547,798

4,979,878

-58

2.00

152

35

944L

AE-CHN-944L-019

547,796

4,979,877

-58

2.00

146

10

944L

AE-CHN-944L-020

547,794

4,979,876

-58

2.50

158

12

944L

AE-CHN-944L-021

547,793

4,979,875

-58

1.50

147

18

944L

AE-CHN-944L-022

547,792

4,979,875

-58

1.50

164

31

944L

AE-CHN-944L-023

547,789

4,979,874

-58

1.50

164

31

944L

AE-CHN-944L-024

547786

4979878

-58

2.1

59

88

944L

AE-CHN-944L-025

547788

4979879

-59

1.65

0

0

944L

AE-CHN-944L-026

547790

4979879

-59

1.6

1

16

944L

AE-CHN-944L-027

547792

4979880

-59

1.5

340

23

944L

AE-CHN-944L-028

547794

4979881

-58

2.1

336

15

944L

AE-CHN-944L-029

547795

4979882

-58

1.55

332

6

944L

AE-CHN-944L-030

547797

4979883

-58

2.3

326

4

944L

AE-CHN-944L-031

547799

4979884

-59

1.75

330

29

944L

AE-CHN-944L-032

547801

4979884

-59

3.65

340

4

944L

AE-CHN-944L-033

547803

4979886

-59

2.6

340

4

944L

AE-CHN-944L-034

547804

4979887

-59

2

120

85

944L

AE-CHN-944L-035

547806

4979888

-59

2

130

85

944L

AE-CHN-944L-036

547808

4979889

-58

2

106

86

944L

AE-CHN-944L-037

547810

4979890

-58

1.5

359

83

944L

AE-CHN-944L-038

547811

4979891

-59

2

102

83

944L

AE-CHN-944L-039

547813

4979892

-59

2.4

325

12

944L

AE-CHN-944L-040

547815

4979891

-59

3.9

336

3

944L

AE-CHN-944L-041

547818

4979892

-59

4.6

335

1

944L

AE-CHN-944L-042

547788

4979873

-59

2

160

11

944L

AE-CHN-944L-043

547786

4979873

-59

2.1

159

14

944L

AE-CHN-944L-044

547785

4979877

-58

2

173

86

985R

AE-CHN-985R-001

548,000

4,979,945

-10

4.10

347

1

985R

AE-CHN-985R-002

548,002

4,979,946

-10

3.40

347

-1

985R

AE-CHN-985R-003

548,004

4,979,946

-10

4.20

345

2

985R

AE-CHN-985R-004

548,006

4,979,947

-11

4.00

348

6

985R

AE-CHN-985R-005

548,008

4,979,947

-11

4.10

350

-1

985R

AE-CHN-985R-006

548,010

4,979,947

-11

3.50

351

3

985R

AE-CHN-985R-007

548,012

4,979,948

-11

3.50

351

0

985R

AE-CHN-985R-008

548,014

4,979,948

-12

3.60

349

8

985R

AE-CHN-985R-009

548,016

4,979,949

-12

3.60

348

3

985R

AE-CHN-985R-010

548,018

4,979,947

-12

5.60

342

0

985R

AE-CHN-985R-011

548,020

4,979,949

-12

4.20

350

1

985R

AE-CHN-985R-012

548,022

4,979,950

-13

3.10

346

3

985R

AE-CHN-985R-013

548,024

4,979,950

-13

4.00

350

2

985R

AE-CHN-985R-014

548,026

4,979,950

-13

4.30

348

3

985R

AE-CHN-985R-015

548,028

4,979,951

-14

4.30

351

6

985R

AE-CHN-985R-016

548,029

4,979,952

-14

3.70

344

4

985R

AE-CHN-985R-017

548,031

4,979,952

-14

4.20

347

5

 

Table 2. Aureus East underground channel sampling results from 940 level, 944 level and 985 levels

Channel

Length

Au gpt

AE-CHN-985R-001

1.1

7.58

including

0.6

12.3

AE-CHN-985R-002

2.1

1.19

AE-CHN-985R-003

2

8.09

including

0.5

9.82

and

0.5

21.5

AE-CHN-985R-004

3.5

1.4

including

0.5

7.89

AE-CHN-985R-005

1.1

4.6

including

0.5

9.02

AE-CHN-985R-006

3.5

4.35

including

0.5

5.88

and

0.5

22

AE-CHN-985R-007

1

0.98

AE-CHN-985R-008

3.6

2.2

including

0.5

5.45

and

0.6

6.62

AE-CHN-985R-009

1.6

11.5

including

0.5

25.5

and

0.6

9.18

AE-CHN-985R-010

5

3.23

including

0.5

15.1

and

0.5

8.43

AE-CHN-985R-011

4.2

1.46

AE-CHN-985R-012

2.6

2.41

including

0.6

8.84

AE-CHN-985R-013

4

1.75

including

0.5

5.99

AE-CHN-985R-014

4.3

4.5

including

0.6

28.6

AE-CHN-985R-015

3.7

0.88

AE-CHN-985R-016

3.2

2.7

including

0.5

8.18

and

0.5

6.83

AE-CHN-985R-017

4.2

1.49




AE-CHN-940E-001

2.6

8.36

including

2.1

10.3

AE-CHN-940E-002

2.6

10.1

including

2.1

12.5

AE-CHN-940E-003

2.7

1.54

including

1.1

3.51

AE-CHN-940E-004

2.85

3.97

including

1.85

5.96

AE-CHN-940E-005

2.75

0.5

including

1.25

1.01

AE-CHN-940E-006

3

1.34

including

0.6

4.91

AE-CHN-940E-007

2.2

34.7

including

0.6

126.5

AE-CHN-940E-008

1.95

14

including

0.95

28.5

AE-CHN-940E-009

2.05

0.68

including

1

1.16

AE-CHN-940E-010

2

1.77

including

1

3.44

AE-CHN-940E-011

2

3.37

including

1.5

4.46

AE-CHN-940E-012

2.1

15

including

1.5

20.9

AE-CHN-940E-013

1.6

4.73

including

1

7.5

AE-CHN-940E-014

2.5

4.81

including

2

5.93

including

0.5

21.4

AE-CHN-940E-015

2

3.21

including

1

6.17

AE-CHN-940E-016

3

1.37

including

1

3.76

AE-CHN-940E-017

1.9

5.1

including

1

9.59

AE-CHN-940E-018

2.85

6.98

including

1.35

14.5

AE-CHN-940E-019

2.25

2.11

including

1.75

2.63

AE-CHN-940E-020

1.5

4.94

AE-CHN-940E-021

1.8

1.68

AE-CHN-940E-022

2.9

17.6

including

0.7

70

AE-CHN-940E-023

1.5

0.53




AE-CHN-940R-001

0.5

0.11




AE-CHN-940R-002

0.5

0.34




AE-CHN-944L-001

1.1

32.2

including

0.6

58.2

AE-CHN-944L-002

1.55

39.1

including

0.65

90.1

AE-CHN-944L-003

1

0.76

AE-CHN-944L-004

2

9.14

including

0.4

42.1

AE-CHN-944L-005

2

14.5

including

0.7

40.6

AE-CHN-944L-006

1.8

2.09

AE-CHN-944L-007

1.5

6.37

including

0.6

15

AE-CHN-944L-008

1.75

0.61

AE-CHN-944L-009

2.3

2.38

AE-CHN-944L-010

1.35

12.8

including

0.45

32.9

AE-CHN-944L-011

1.3

22.2

including

0.5

46.6

AE-CHN-944L-012

1.55

15.3

including

0.55

41.3

AE-CHN-944L-013

2.2

6.33

including

0.6

20

AE-CHN-944L-014

1.8

11.9

including

0.55

37.5

AE-CHN-944L-015

1.25

21.7

including

0.55

48.1

AE-CHN-944L-016

1.6

27.5

including

0.55

77

AE-CHN-944L-017

2

32.9

including

0.5

121

AE-CHN-944L-018

1

0.84

AE-CHN-944L-019

1.5

9.67

including

0.5

28

AE-CHN-944L-020

2

1.99

AE-CHN-944L-021

1

39.2

including

0.5

78

AE-CHN-944L-022

1

4.16

including

0.5

7.68

AE-CHN-944L-023

1.5

168

including

0.5

501

AE-CHN-944L-024

1.6

34.6

including

0.6

90.5

AE-CHN-944L-025

1.65

3.97

including

0.65

9.43

AE-CHN-944L-026

1.6

14.6

including

0.6

35.8

AE-CHN-944L-027

1.5

3.23

including

0.5

8.46

AE-CHN-944L-028

1.55

1.46

AE-CHN-944L-029

1.05

13.3

including

0.55

23.9

AE-CHN-944L-030

2.3

16.1

including

0.6

59.1

AE-CHN-944L-031

1.75

0.34

AE-CHN-944L-032

3.65

21.2

including

1.4

54.2

AE-CHN-944L-033

2.6

5.91

including

0.8

18.8

AE-CHN-944L-034

2

0.95

AE-CHN-944L-035

2

1.96

including

0.5

6.32

AE-CHN-944L-036

2

1.85

including

0.5

5.54

AE-CHN-944L-037

1.5

0.46

AE-CHN-944L-038

1.5

0.23

AE-CHN-944L-039

1.2

5.48

including

0.5

9.98

AE-CHN-944L-040

3.3

1.65

AE-CHN-944L-041

1.9

1.95

AE-CHN-944L-042

2

365

including

0.5

1425

AE-CHN-944L-043

1.6

14

including

0.6

52.6

AE-CHN-944L-044

1.5

1.04​

 

COVID-19 Precautions

Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia. Protocols were put in place to ensure the safety of our employees and contractors, thereby reducing the potential for community contact and spreading of the virus.

Qualified Person and Analytical Procedures

Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release.

Individual drill core samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped by courier for analyses to ALS Geochemistry, Moncton, New Brunswick. Sample preparation occurs at ALS in Moncton where samples are weighed, dried, crushing one kilogram to 70 percent less than two millimeters and then pulverized to create a one-kilogram sample with 85 percent less than seventy-five microns. Potential high-grade gold samples are sent for metallic screen fire assay and remaining material is assayed for 50-gram fire assay and samples grading more than 100 parts per million have a gravimetric finish performed. When visible gold is encountered the Company samples both halves of the core. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed. The Company inserted control samples (accredited gold standards, blanks and duplicates) at least every 20 samples and monitors the control samples inserted by ALS.

About Aurelius

Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus Gold Properties, including Aureus East and West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company's press release of November 18, 2019.

Aurelius is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world's most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend.

The Company has a management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in Nova Scotia, the Abitibi and other proven mining districts.

On Behalf of the Board
AURELIUS MINERALS INC.

For further information please contact:

Aurelius Minerals Inc.
Mark N.J. Ashcroft, P.Eng., President and CEO
info@aureliusminerals.com
Tel.: (416) 304-9095
www.aureliusminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Aurelius. All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Aurelius within the meaning of applicable securities laws, including statements with respect to the Company's completion of the Offering on the terms described herein or at all, the use of proceeds of the Offering, the Company's planned drilling and exploration activities, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" , "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Aurelius to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, anticipated costs and ability to achieve goals.

Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Aurelius believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the Inferred Mineral resources could be upgraded to Indicated Mineral Resources.

The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company's proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius' public filings under Aurelius' SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATON INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133578