Toronto, Ontario--(Newsfile Corp. - March 6, 2017) - Aurania Resources Ltd. (TSXV: ARU) ("Aurania" or the
"Corporation") is pleased to announce the appointment of Richard Spencer PhD, as a director of the Corporation, bringing the
number of directors to five.
Dr. Spencer is a geologist with experience and knowledge that is particularly relevant to Aurania given the Corporation's
announcement last week of the proposed acquisition of the Lost Cities — Cutucu Project, located in south eastern Ecuador (the
"Lost Cities - Cutucu Project").
Dr. Spencer lived in Ecuador for 10 years, first leading Gencor Ltd.'s exploration teams that made the grassroots discovery of
the San Carlos, Mirador and Panantza porphyries that contain an estimated 24 billion pounds of copper and 3 million ounces of gold.
These deposits lie in the area immediately south, and along trend of the Lost Cities — Cutucu Project. After leaving Gencor, he
joined Iamgold Corp. where his team discovered the Quimsacocha — Loma Larga deposit in Ecuador, containing resources of 3 million
ounces of gold and 23 million ounces of silver. Subsequently, he joined Crystallex International Corp. as VP-Exploration, working
on the Las Cristinas gold deposit in Venezuela, where his team increased gold reserves by 6.6 million ounces. Richard currently
serves as President, CEO and Director of U3O8 Corp., a TSX-listed exploration company with resources of uranium and battery
commodities in deposits in Argentina, Colombia and Guyana.
"We are very pleased to welcome Richard to the Board. He brings a wealth of experience and knowledge that will add strength to
our Board as we complete the acquisition and embark on the exploration of the Lost Cities — Cutucu Project in Ecuador. Richard also
brings hands-on familiarity with the community and social fabric that is an integral part of any project." commented Dr. Keith
Barron, President & CEO.
Richard commented, "I am excited by the opportunity to contribute to the Board of Aurania as it initiates exploration in this
highly prospective area of Ecuador. Ecuador holds great potential for the discovery of new world class deposits." "Furthermore, I
hope that my in-country experience will allow me to contribute to the Corporate Social Responsibilities that facilitate and nurture
mutually beneficial relationships between the Corporation and the communities in which we operate. Both Keith and I have a number
of years' experience successfully operating and creating value in Ecuador and we share the objective of building a Corporation that
acknowledges and delivers on our responsibilities to all stakeholders."
About Aurania
Aurania is engaged in the business of acquiring and exploring mineral resource properties. Since 2010, Aurania has been
exploring for gold, copper, silver and uranium on its three mineral properties, namely the Mont Chemin, Marécottes and Siviez
projects, which cover approximately 99 km2 in south-western Switzerland. The Corporation's 100% interests in its
projects are held by the Corporation's wholly-owned subsidiary, AuroVallis Sàrl, through exploration permits granted by the Canton
of Valais.
The Corporation recently announced (news release: March 1, 2017) the proposed acquisition of the large 2,080 square kilometre
Lost Cities — Cutucu Project that covers the core of the Cordillera de Cutucu, a mountain range in the foothills of the Andes, in
Ecuador. Historic Spanish documents recovered from the archives in Ecuador, Spain and the Vatican provide evidence indicating that
two famous gold mining areas that operated in the 16th and 17th Centuries: Sevilla del Oro and
Logroño de los Caballeros, may be located within the Project area. The Project area is largely unexplored but has some of
the same rock formations that host a number of significant deposits along the same trend, namely Lundin Gold's 7 million ounce
(Moz) Fruta del Norte epithermal gold, that is currently under construction, and the 2.7Moz Nambija skarn gold deposits. The
adjacent Cordillera del Condor also contains a chain of porphyry deposits that contain significant copper, gold, and silver
resources, with mines under construction on two of these porphyry deposits.
Further information on Aurania, its management team and projects, can be found on www.sedar.com and on Aurania's website at www.aurania.com.
The technical information contained in this news release has been verified and approved by Aurania's Chief Geologist, Jean-Paul
Pallier, a designated EurGeol by the European Federation of Geologists and "Qualified Person" for the purpose of National
Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
For further information, please contact:
Keith Barron
President and CEO
Aurania Resources Ltd.
416 367-3200
keith@aurania.com
Donna McLean
CFO
Aurania Resources Ltd.
416 417-8349
donna@aurania.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most
of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania's
future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or
result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information
currently available to Aurania, Aurania provides no assurance that actual results will meet management's expectations. Risks,
uncertainties and other factors involved with forward-looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward
looking information in this news release includes, but is not limited to, Aurania's company's objectives, goals or future plans,
statements, details of the transaction with ESA, exploration results, potential mineralization, the company's portfolio, treasury,
management team and enhanced capital markets profile, the proposed private placement, the timing of the Transaction, the estimation
of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market
conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not
limited to, failure or inability to complete the Transaction with ESA on the terms as proposed, failure to obtain the required
approvals of the Aurania's shareholders and regulators, failure to identify mineral resources, failure to convert estimated mineral
resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature
of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other
project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs
varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those
risks set out in Aurania's public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, other than as required by law.
