Aurion Expands Gold Mineralized Envelopes at Aamurusko, Further Results from Helmi Discovery (B2Gold JV) imminent

Summary

• High-grade intercepts
• • 70.10 g/t Au over 0.70 m from 76.65 m and 11.99 g/t Au over 2.60 m from 174.70 m (AM21195), and 27.60 g/t Au over 0.70 m from 23.25 m (AM21186)
• Multiple broad zones of gold mineralization at the NW and Gap Zones expand the mineralized envelopes
• • Broad zones with alteration and deformation associated with elevated gold grades expand the mineralized domain along strike and with depth
  • Drill hole AM21195 intersected multiple zones of gold mineralization through nearly the entire length of the hole (300.40 m).
  • • The average grade of the composite is 0.46 g/t Au over 268.30 m from 29.00 m, which includes higher grade gold and barren intervals.
  • Other mineralized intervals include, for example
  • • 2.14 g/t Au over 7.85 m from 3.50 m (AM21186), 1.20 g/t Au over 7.35 m from 63.00 m (AM21185), 0.22 g/t Au over 40.10 m from 93.25 m (AM21192), 0.21 g/t Au over 32.80 m from 83.65 m (AM21193), 0.24 g/t Au over 18.40 m from 20.70 m (AM21191)
• Assay results from 6 Aamurusko holes are pending
• Further results from Helmi Discovery (B2Gold JV) expected in the near future
• Aurion is fully funded for planned exploration activities into 2024

Comments
"This was a decent campaign for Aamurusko. The hit rate remains high as all holes intersected gold mineralized zones and expanded the mineralized envelopes at the NW and Gap Zones," commented Matti Talikka, Aurion's CEO. "We had three objectives for 2021: to discover additional high-grade domains; to determine whether economic zones of disseminated mineralization were present; and to reduce per-meter drilling costs. While we have not yet discovered a new high-grade domain we did intersect broad disseminated zones of mineralization which have the potential to be economic, and we succeeded in reducing drilling costs by approximately 60%. We plan to continue drilling with 1-2 rigs throughout the year to test Aamurusko, other targets within Aurion's 100% owned properties and the JV with B2Gold. Our strong working capital position provides us with a flexibility to increase the scale of the exploration program in response to significant results."

Figures and images can be found at: https://aurionresources.com/site/assets/files/1421/nr22-01figures.pdf.

Discussion
Aurion has completed a 17-hole, 3,557.50 m, diamond core drilling program at Aamurusko during the fall and winter of 2021. Gold results for the fire assay with AAS finish method have been received for 11 holes with screen assay results on all selected samples (i.e. samples with visible gold grains) pending. Results for the remaining 6 drill holes are also pending.

The program was designed to test the gold potential of several structures in the NW and Gap Zones. This includes recently identified parallel structures to the north of previously drilled areas and the extensions of gold bearing structures identified in gabbro along the interpreted southern domain boundary.

The Company, along with drilling company Kati Oy, designed a reusable blast mat road, made of recycled tires, which has allowed the Company to eliminate the requirement for helicopter assisted drilling at Aamurusko. As a result, the drilling costs have been reduced and the technical performance has improved significantly.

All holes intersected zones of gold mineralization. A summary of the gold intercepts is presented in Table 1.

Table 1: Aamurusko Drilling Result Summary

NW Zone
Drill holes AM21185, AM21186, AM21194 and AM21195 were collared on a plateau area above the steep part of the hill. All drill holes intersected gold mineralized intervals. The gold mineralization is hosted in silica and sericite altered clastic sediments containing quartz veining and pyrite dissemination.

AM21185 and AM21186 targeted the near-surface extensions of the mineralized envelope at the NW Zone. Drill holes AM21185 and AM21186 confirmed that the mineralized envelope at the NW Zone extends to the surface.

Drill hole AM21185 intersected 0.86 g/t Au over 2.70 m from 54.40 m, 1.20 g/t Au over 7.35 m from 33.00m, 1.35 g/t Au over 0.50 m from 83.50 m, 1.12 g/t Au over 1.10 m from 88.40 m in clastic sediments with alteration, quartz veining and pyrite dissemination.

Drill hole AM21186 intersected 2.14 g/t Au over 7.85 m from 3.50 m, 27.60 g/t Au over 0.70 m from 23.25 m and 2.47 g/t over 1.0 m from 57.45 m in clastic sediments with alteration, quartz veining and pyrite dissemination.

AM21194 and AM21195 targeted the extension of the NW Zone towards north and at depth, and to provide information on the orientation and geometry of a folded greywacke unit that is interpreted to control the placement of gold mineralization in the neighboring clastic sediments.

The drill holes extend the mineralized envelope at NW Zone to the surface, towards north and at least to 250 m vertical depth in northern part of the mineralized envelope, which remains open in multiple directions. The significant dimensions of the envelope with alteration, deformation and elevated gold grades indicate the presence of a powerful hydrothermal system with potential to generate mineralization of scale in the NW Zone and vicinity.

AM21194 targeted the contact zone between greywacke and clastic sediment units. The hole intersected altered, quartz veined intervals with pyrite dissemination returning elevated zones of gold mineralization including, but not limited to, 0.20 g/t Au over 10.85 m from 35.40 m, 0.16 g/t Au over 18.40 m from 55.85 m, and 0.22 g/t Au over 10.35 m from 106.15 m. The lower part of the hole (82.70-250.70 m) intersected mainly greywacke unit.

AM21195 targeted the clastic sediment unit close to the contact with the greywacke unit. The drill hole intersected several broad zones of altered clastic sediments with quartz veins and pyrite dissemination with elevated gold values. High-grade intervals include 70.10 g/t Au over 0.70 m from 76.65 m and 11.90 g/t Au over 2.60 m from 174.70 m. Lower grade intervals include 1.02 g/t Au over 1.0 m from 29.90 m, 1.04 g/t Au over 1.00 m from 55.55 m, 1.07 g/t Au over 7.40 m from 95.60 m, 1.61 g/t Au over 1.00 m from 106.70 m, 1.18 g/t Au over 0.90 m from 117.60 m, 1.62 g/t Au over 0.80 m from 187.00, 1.10 g/t Au over 1.85 m from 215.00 m and 1.80 g/t Au over 1.10 m from 286.00 m. Visible gold grains were observed in several intervals. The average grade of the composite including higher-grade gold and barren intervals is 0.46 g/t Au over 268.30 m from 29.00 m.

Gap Zone
Drill holes AM21187-AM21193 were collared on plateau areas in the middle part of the hill. The drill holes targeted the potential extensions of a quartz vein stockwork identified on surface and several other structures interpreted from mapping and geophysical surveys. Drill holes were drilled towards various directions in order to provide orientation data of the structural framework in an area that had previously seen only very limited drilling.

All drill holes intersected gold mineralized intervals. The gold mineralization is hosted in silica and sericite altered clastic sediments containing quartz veining and pyrite dissemination. The drilling identified a broad envelope (minimum size of 150 m by 150 m) with mineralization including higher grade, lower grade and barren intervals.

AM21187 was drilled from the eastern part of the Gap Zone plateau towards SE targeting a previously untested area with potential folded sedimentary units. Drill hole intersected several intervals with alteration and quartz veining with elevated gold grades (>0.1 g/t Au) including 0.73 g/t Au over 1.50 m from 211.30 m.

AM21188 was drilled from the southern part of the Gap Zone plateau towards SW targeting a previously untested area. The top part of the drill hole intersected several intervals of clastic sediments with alteration, quartz veining and pyrite dissemination. Sample interval containing visible gold grains returned 1.74 g/t Au over 0.75 m from 82.35 m. Altered, sheared and quartz veined intervals of gabbro with pyrite and pyrrhotite returned 1.25 g/t Au over 1.10 m from 171.30 m, 0.98 g/t Au over 0.55 m from 182.15 m and 1.41 g/t Au over 1.40 m from 228.10 m. The deformed interval of ultramafic volcanic rocks contained 0.95 g/t Au over 0.70 m from 336.55 m indicating that ultramafic rocks may also host structures with gold potential.

AM21189 was drilled from the southern part of the Gap Zone plateau towards SE targeting another previously untested area. The drill hole intersected several intervals of clastic sediments with alteration, quartz veining and pyrite dissemination with elevated gold values (>0.1 g/t Au). Sample interval containing visible gold grains returned 8.63 g/t Au over 0.75 m from 180.10 m.

AM21190 was collared in the central part of the Gap Zone plateau and drilled towards SE. The drill hole intersected several intervals of clastic sediments with alteration, quartz veining and pyrite dissemination with elevated gold values (>0.1 g/t Au) including 1.16 g/t Au over 0.95 m from 50.00 m and 0.18 g/t Au over 9.40 m from 60.95 m.

AM21191 was collared in the central part of the Gap Zone plateau and drilled towards NW. The drill hole intersected several intervals of clastic sediments with alteration, quartz veining and pyrite dissemination with elevated gold values (>0.1 g/t Au) including 0.24 g/t Au over 18.40 m from 20.70 m including 1.08 g/t Au over 1.05 m from 30.20 m.

AM21192 was collared in the northern part of the Gap Zone plateau and drilled towards SE. The drill hole intersected broad intervals of clastic sediments with alteration, quartz veining and pyrite dissemination with elevated gold values (>0.1 g/t Au) including 2.01 g/t Au over 1.15 m from 115.70 m and 2.37 g/t Au over 1.20 m from 128.00 within a broader interval of 0.22 g/t Au over 40.10 m from 93.25 m.

AM21193 was collared in the northwestern part of the Gap Zone plateau and drilled towards SE. The drill hole intersected broad intervals of clastic sediments with alteration, quartz veining and pyrite dissemination with elevated gold values (>0.1 g/t Au) including 3.27 g/t Au over 0.55 m from 182.05 m and 1.67 g/t Au over 0.95 m from 99.90 m within a broader interval of 0.21 g/t Au over 32.80 m from 83.65 m.

Exploration Outlook
Aurion is looking forward to an active year of systematic exploration. Diamond core drilling is planned with 1-2 rigs throughout the year to test targets within Aurion's 100% owned properties and JV with B2Gold.

The Company is planning to drill along the Aamurusko trend to test the extensions of the identified mineralized zones as well as to test recently identified prospective structures extending into several lithologies including, but not limited to, gabbro, mafic volcanics and conglomerates.

Scout drilling is planned to test several targets including the Notches prospect and other regional targets identified from base of till and geophysical programs.

A regional base of till sampling program is ongoing with two rigs. The program includes follow up sampling in many areas that have returned anomalous gold values from previous work by Aurion. The program will also be expanded to previously unexplored areas along interpreted major structural features with an aim to identify mafic and ultramafic hosted gold mineralization such as the Ikkari Discovery (Rupert Resources) and the Helmi Discovery (Aurion-B2Gold JV).

Other planned exploration activities include but are not limited to geophysical surveys and trenching.

Quality Assurance, Quality Control and Qualified Person
All samples were delivered to ALS preparation facility in Sodankylä, Finland where sample preparation work was completed. All analytical work was completed at ALS facility in Loughrea, Ireland and Rosia Montana, Romania. ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All samples were analyzed for gold using 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). 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.

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
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, Chief Executive Officer

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.



Contact
Mark Santarossa, Vice President, Corporate Development, Cell: +1(416) 371-1325, Email: msantarossa@aurionresources.ca