ST.
JOHN'S, NL, July 31,
2023 /CNW/ - Aurion Resources Ltd. (TSXV: AU)
(OTCQX: AIRRF) ("Aurion" or the
"Company") announces that it has entered into an
agreement with B2Gold Corp. ("B2Gold") whereby B2Gold has
agreed to contribute €3,500,000 for the repurchase of the 3% net
smelter return royalty covering the Kutuvuoma project (the
"Kutuvuoma Royalty"), which is part of the joint venture
between B2Gold (holding a 70% interest) and Aurion (holding a 30%
interest).
As previously announced in news releases dated May 31, 2023 and July 10,
2023, Aurion entered into an option agreement dated
May 29, 2023, with Dragon Mining Ltd.
("Dragon"), which provided Aurion with the option
("Option") to acquire and eliminate all encumbrances on the
Kutuvuoma and Silasselkä projects, including the Kutuvuoma Royalty
and a 3% net smelter return royalty covering the Silasselkä
project, for total consideration of €5,000,000 and 37,500 common
shares of Aurion ("Shares").
B2Gold has agreed to contribute €3,500,000 in cash to fund
the exercise of the Option. As a result, Aurion's contribution to
the Option exercise will be €1,500,000 in cash, Shares or a
combination of both (provided that any issuance of Shares will not
exceed the number of Shares that would result in Dragon owning, or
having control or direction over 9.9% of the then-issued Shares),
at the Company's discretion on or any time before September 30, 2023.
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.
