Aurion Provides an Update on Exploration Activities at Risti

• 20 high priority targets identified
• Aamurusko Trend – Gold intersected 1,500 m west from Aamurusko Main
• Aamurusko – Gabbro hosted gold mineralization
• Notches – Several gold bearing structures intersected
• Kaares – Gold and PGE mineralization intersected in new target areas

Aurion Resources Ltd. (TSX VENTURE: AU) (OTCQX: AIRRF) (“Aurion” or the “Company”) announces an update on exploration activities at its wholly owned Risti property located in the Central Lapland Greenstone Belt in northern Finland.

Summary

• 20 high priority targets identified
  • Ongoing geophysical and geochemical surveys are generating large number of targets
  • Scout drilling program ongoing to test selected targets
• Aamurusko Trend – Gold intersected 1,500 m west from Aamurusko Main
  • 2.17 g/t Au over 2.90 m from 152.35 m (AM22215)
• Aamurusko – Gabbro hosted gold mineralization
  • Further gold bearing structural zones intersected in gabbro proximal to a domain boundary
  • 1.74 g/t Au over 2.85 m from 259.45, 5.57 g/t Au over 1.00 m from 281.85, 1.27 g/t Au over 2.50 m from 305.50 m, and 1.26 g/t Au over 2.05 m from 394.35 (AM22210)
  • 0.25 g/t Au over 49.60 m from 278.40 m (AM22212)
  • Potential to host gold mineralization of scale in mafic and/or sedimentary rocks
• Notches – Several gold bearing structures intersected
  • 7.03 g/t Au over 0.90 m from 50.25 m, 1.19 g/t Au over 0.87 m from 59.63 m, and 1.41 g/t Au over 1.35 m from 62.15 m (AM21205)
  • 5.38 g/t Au over 1.15 m from 46.40 m and 1.03 g/t Au over 1.35 m from 68.10 m (AM22209)
  • 2.27 g/t Au over 1.00 m from 54.15 m (AM22206)
• Kaares – Gold and PGE mineralization intersected
  • Identification of multiple gold bearing deformation zones
    • 3.07 g/t Au over 1.00 m from 34.90 m (KS22016)
    • 1.66 g/t Au over 1.22 m from 41.00 m (KS22017)
    • Several anomalous zones in highly deformed and altered mafic volcanic rocks
  • Platinum (Pt) and palladium (Pd) mineralization intersected in gabbro
    • 0.30 g/t Pt+Pd over 43.10 m from 74.50 m (KS22015)
    • 1.43 g/t Pd, 0.51% Cu over 0.85 m from 71.80 m (KS21014)
  • Kaares area located along major structural zone that extends 15 km within the Risti property

Comments
”Our ongoing program at Risti has high ambitions; to make new discoveries and to make meaningful increases in the scale of our existing discoveries. The exploration success at Ikkari (4mm oz), by our neighbour Rupert Resources, has moved the focus of our efforts away from our outcropping discoveries hosted in clastic sediments and towards the large areas of mafic/ultra-mafic rock that lie under cover across Risti” commented Matti Talikka, Aurion’s CEO. “The recently commenced scout drill program has identified gold mineralization in all selected target areas tested to date. Gold intercepts 1.5 km west of Aamurusko and at Aamurusko gabbro target expand the mineralized footprint along the Aamurusko trend. At the Kaares area, 4 km to the south of Aamurusko, drilling encountered wide zones of strongly deformed and altered mafic to ultramafic volcanic rocks with elevated gold resembling Helmi-Ikkari style of gold mineralization. In addition, a wider interval of PGE mineralization was intersected south of the Kaaresselkä gold prospects further supporting the prospectivity of the untested major structure that extends for 15 km along the southern part of the Risti property.”

See https://aurionresources.com/site/assets/files/1463/nr22-16figures.pdf for figures associated with this release.

Regional programs have generated 20 high priority targets
The vast majority of the Risti property is covered by glacial till. Such areas are not amenable to prospecting and surface mapping that has led to multiple discoveries, including the Aamurusko high-grade discovery. Base of till (BoT) sampling combined with geophysical surveys have been key exploration methods behind most gold and base metal discoveries within the Central Lapland Greenstone Belt, including Agnico Eagle’s Kittilä Mine, Ikkari by Rupert Resources and Sakatti by Anglo American.

The ongoing geophysical and geochemical surveys within the Risti property continue to generate numerous targets that warrant follow up work. A total of 4,134 base of till samples have been taken since late 2020 with a focus on the unexplored mafic-ultramafic domains and areas within proximity to interpreted structural features.

The surveys have generated 20 high priority targets where gold and/or pathfinder element anomalies co-exist with interpreted structural features (Figure 1). The ongoing scout drilling program is testing selected high priority targets.

Gold mineralization was intersected in 17 out of 23 holes and in all target areas tested to date (Figure 2). In addition, PGE mineralization was identified in a previously untested area.

The scout drilling program is planned to continue until mid December and will be testing further high priority targets.

Aamurusko Trend
Seven scout drill holes, totalling 1,182.00 m, were completed along the Aamurusko Trend (Figure 2). This area, located 1-2 km west of Aamurusko Main, is interpreted to be the continuation of the domain boundary hosting the Aamurusko Main gold mineralization. These holes were targeting various geophysical and geochemical features along the trend. Holes AM22215, AM22216 and AM22217 were drilled along the same profile approximately 1.5 km west of Aamurusko Main. Holes AM22215 and AM22217 intersected 2.17 g/t Au over 2.90 m from 152.35 m and 0.60 g/t Au over 1.25 m from 93.20 m, respectively. This mineralization is hosted by siliciclastic sediments proximal to the domain boundary. Holes AM22218, AM22219 and AM22220 were drilled along the same profile approximately 2 km west of Aamurusko Main. Holes AM22218 and AM22219 intersected anomalous (>0.1 g/t Au) values up to 0.24 g/t Au. This mineralization is also hosted by siliciclastic sediments proximal to the domain boundary.

Two scout drill holes, totalling 200.60 m, located 2 km west-northwest of Aamurusko Main, were drilled to test a BoT anomaly. Hole AM22221 was abandoned and re-collared as AM22222, which intersected 0.11 g/t Au over 0.85 m from 57.15 m within siliciclastic sediments.  

The gold intercepts in these widely spaced scout holes confirm that the interpreted domain boundary, that remains mainly untested for 5 km to the west from Aamurusko Main, is prospective for the existence of gold mineralization.

Aamurusko
In the Aamurusko Main and Aamurusko NW areas, four drill holes were completed for a total of 1,781.40 m. The holes were planned to test for mineralization within the gabbro units adjacent to the domain boundary (Figure 3). All four holes successfully intersected gold bearing structural zones within gabbro and sediments proximal to a domain boundary. At Aamurusko Main, hole AM22210 intersected multiple mineralized intervals including 1.74 g/t Au over 2.85 m from 259.45 m, 5.57 g/t Au over 1.00 m from 281.85 m, 1.27 g/t Au over 2.50 m from 305.50 m and 1.26 g/t Au over 2.05 m from 394.35 m. At Aamurusko NW, hole AM22212 intersected 0.25 g/t Au over 49.60 m from 278.40 m. These intersections provide further indications of the potential to host gold mineralization of scale in mafic and/or sedimentary rocks.

Notches
A total of five drill holes, totalling 434.70 m, were completed in the Notches area (Figure 2). These holes were targeting a mineralized conglomerate unit exposed in Aurion trench NOT1817. All five holes intersected gold mineralized intervals within the conglomerate unit over a strike length of 150 m. Mineralization was also intersected in the host sandstone unit. Mineralized intersections include: 7.03 g/t Au over 0.90 m from 50.25 m, 1.19 g/t Au over 0.87 m from 59.63 m and 1.41 g/t Au over 1.35 m from 62.15 m in hole AM21205; 5.38 g/t Au over 1.15 m from 46.40 m and 1.03 g/t Au over 1.35 m from 68.10 m in hole AM22209; 2.27 g/t Au over 1.00 m from 54.15 m in hole AM22206.

The gold mineralization intersected extends the structures and confirms the style of mineralization observed in the trench NOT1817 area. The drill holes focused on a small area within the 5 km by 1 km Notches prospect from which approx. 2,650 grab samples averaging 2.2 g/t Au have been collected.

Kaares Area
Six scout drill holes, totalling 869.40 m, were completed in the greater Kaares area in the southern part of the Risti property (Figure 4). The scout holes targeted selected geophysical and geochemical anomalies located on or adjacent to interpreted domain boundaries outside previously drill tested areas. The anomalies resulted from Aurion’s ongoing BOT sampling and geophysical surveys.

Drilling intersected new gold bearing zones in highly deformed and altered mafic volcanic rocks in previously untested areas. KS22016 and KS22017, located approximately 1.7 km SW of Kaaresselkä, returned 3.07 g/t Au over 1.00 m from 34.90 m and 1.66 g/t Au over 1.22 m from 41.00 m respectively. In addition, a wider zone of anomalous gold, up to 0.28 g/t, was intersected (KS22019) approximately 1.4 km NW of Kaaresselkä.

Drill hole KS22015, located 1.7 km SW of Kaaresselkä, intersected mafic intrusive hosted Pt and Pd mineralization, returning an interval of 0.30 g/t Pt+Pd over 43.10 m from 74.50 m. This new mineralization, along with a previous interval of 1.43 g/t Pd, 0.51% Cu over 0.85 m from 71.80 m in hole KS21014 (2.5 km E of KS22015), highlights the Pt and Pd potential of the area.

The existence of gold mineralized zones in strongly altered and sheared mafic volcanic rocks well outside the previously drill tested areas and the large number of untested geochemical and geophysical anomalies further support the prospectivity of this major structural trend that extends 15 km in the southern part of the Risti Property.

Quality Assurance and Quality Control
All drill core samples were delivered to the ALS preparation facility in Sodankylä, Finland where sample preparation work was completed. All analytical work was completed at ALS facilities in Loughrea, Ireland and Rosia Montana, Romania. ALS is an internationally accredited lab and is ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). Samples were analyzed for gold using either the Au-AA26 procedure (50 g fire assay with AAS finish: Lower Detection Limit (“LDL”) 0.01 g/t gold; Upper Detection Limit (“UDL”) 100 g/t gold) or they were analyzed for gold, platinum and palladium using the PGM-ICP24 procedure (50 g fire assay with ICP-AES finish: LDL 0.001 g/t gold, 0.005 g/t platinum, 0.001 g/t palladium; UDL 10 g/t gold, 10 g/t platinum, 10 g/t palladium) or the PGM-ICP23 procedure (30 g fire assay with ICP-AES finish: LDL 0.001 g/t gold, 0.005 g/t platinum, 0.001 g/t palladium; UDL 10 g/t gold, 10 g/t platinum, 10 g/t palladium). Any samples that returned over-limit values (>100 g/t gold), fire assay values of ≥3 g/t gold or had visible gold observed were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000 ppm) by 1kg screen fire assay (50 g nominal sample weight). The sample pulp (1kg) is passed through a 100-micron stainless steel screen. Any material remaining on the screen (>100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<100 micron) is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (+) 100 and (-) 100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample. Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 20 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates. 

All till samples were initially delivered to the ALS preparation facility in Sodankylä, Finland from where they were shipped to the ALS preparation facility in Outokumpu, Finland where sample preparation work was completed. All analytical work was completed at the ALS facility in Loughrea, Ireland. ALS is an internationally accredited lab and is ISO compliant (ISO 9001:2008, ISO/IEC 17025:2017). Early in the program samples were assayed for gold using the Au-AA24 procedure (50 g fire assay with AAS finish: Lower Detection Limit (“LDL”) 0.005 g/t gold; Upper Detection Limit (“UDL”) 10 g/t gold) or the Au-AA23 procedure (30 g fire assay with AAS finish: LDL 0.005 g/t gold; UDL 10 g/t gold). The assay method was subsequently changed to include platinum and palladium. All subsequent samples were assayed for gold, platinum and palladium using the PGM-ICP24 procedure (50 g fire assay with ICP-AES finish: LDL 0.001 g/t gold, 0.005 g/t platinum, 0.001 g/t palladium; UDL 10 g/t gold, 10 g/t platinum, 10 g/t palladium) or the PGM-ICP23 procedure (30 g fire assay with ICP-AES finish: LDL 0.001 g/t gold, 0.005 g/t platinum, 0.001 g/t palladium; UDL 10 g/t gold, 10 g/t platinum, 10 g/t palladium). Multi-element analysis (ME-MS61, four-acid digestion, 48 element ICP-MS) was completed on all samples. Certified standards were inserted every 25 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates. 

This news release has been reviewed by Andrew Hussey, P.Geo., GIS Geologist and Database Manager for Aurion Resources, a Qualified Person as defined by National Instrument 43-101. For more information on these projects please visit our website at www.aurionresources.com.

About Aurion Resources Ltd.
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 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

For further information, please contact:
Mark Santarossa, Vice President, Corporate Development
Cell: +1 (416) 371-1325
Email: msantarossa@aurionresources.ca

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.