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.
Comments
"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.
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 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.