ST. JOHN'S, NL, Aug. 8, 2022 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") announces that it has agreed with Tertiary Minerals Plc ("Tertiary") to acquire and cancel royalties on the Kaaresselkä (Risti, 100% Aurion) and Kiekerömaa (B2Gold JV) gold prospects for a total consideration of CAD$200,000 and 83,333 Aurion common shares.
- Acquisition and cancellation of royalties on Kaaresselkä (Risti, 100% Aurion) and Kiekerömaa (B2Gold JV) gold prospects, consisting of:
- a pre-production royalty on definition of a NI 43-101 (or equivalent) Code compliant Minerals Resource Estimate on either project, with US$1.00, US$2.00, US$3.00 payable per ounce gold in the Inferred, Indicated or Measured Mineral Resource categories respectively; and
- a Net Smelter Returns Royalty (NSR) of 2% on all future gold production from either property.
- Total consideration to be paid on closing:
- CAD$200,000 in cash and 83,333 Aurion common shares
On closing of the agreement, Aurion will issue 83,333 common shares (the "Consideration Shares") to Tertiary. The Consideration Shares will be subject to a statutory four month and one day hold period from closing. The agreement is subject to acceptance by the TSX Venture Exchange.
"The acquisition and cancellation of the royalties on the Kaaresselkä (Risti, 100% Aurion) and Kiekerömää (B2Gold JV) gold occurrences is well aligned with Aurion's approach of maximizing the value of our properties," commented Aurion's CEO, Matti Talikka.
Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.
On behalf of the Board of Directors,
Matti Talikka, CEO
Neither the 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.
SOURCE Aurion Resources Ltd.
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