Aurania Resources Ltd. (TSX-V: ARU) (FSE: 20Q) announces that the Company has closed its private placement of units of the Company previously announced in its news release on March 29, 2021. The Units were issued on the same terms and conditions as the units issued in connection with the Company’s public overnight marketed offering that was successfully completed on April 1, 2021.

A total of 403,709 Units were sold in the Private Placement at a price of C$3.10 per Unit for gross proceeds to the Company of approximately C$1.25 million. Each Unit is comprised of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant shall entitle the holder to purchase one Common Share at C$4.25 at any time until April 1, 2024.

The Warrants are governed by the terms of a Warrant Indenture dated April 1, 2021 between the Company and TSX Trust Company of Canada as warrant agent, a copy of which is available under the Company’s profile at www.sedar.com. For further details regarding the Warrants, please refer to the Warrant Indenture.

The net proceeds of the Private Placement are anticipated to be applied to exploration of the Aurania’s Peru concessions and for working capital and general corporate purposes.

Pursuant to the terms and conditions of the underwriting agreement pursuant to which the Public Offering was completed, the Company has also paid to the underwriters in the Public Offering a cash commission of 3% of the gross proceeds from the Private Placement.

The Warrants issued in connection with the Private Placement are expected to be listed on the TSX Venture Exchange, together with the Warrants issued in connection with the Public Offering, under the symbol “ARU.WT.A” effective on or about April 9, 2021.

The Private Placement remains subject to the final acceptance of the TSXV. The Common Shares and Warrants issued pursuant to the Private Placement (and the Common Shares underlying the Warrants) are subject to a resale restriction of four-months and a day from the date of issue.

The securities described in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.