Aurelius Continues to Intersect Significant Gold Mineralization at Mikwam Property Including 26.1 Metres Grading 7.1 g/t Gold

VANCOUVER, Oct. 23, 2018 - Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) is pleased to announce the assay results from three additional holes from the recently completed 17-hole (3,923 metre) Phase Two drilling program at its Mikwam Property. The three holes intersected significant gold mineralization with increasingly higher grades.

The Company drilled exploration holes on five sections along strike. Assay results are pending from the remaining nine holes.

Highlights from the three most recently assayed holes, on Section 2305 East, include:

• AUL-18-15 intersected
  • 7.1 grams per tonne (“g/t”) gold over 26.1 metres (“m”);
    • Including 11.8 g/t over 5m; and
      • Including 24.3 g/t over 1.0m;
    • Including 9.4 g/t over 7.2m; and
      
• AUL-18-16 intersected
  • 8.2 g/t gold over 11.5m; and
  • 5.3 g/t over 6.0m; and
    
• AUL-18-18 intersected;
  • 3.0 g/t gold over 11.5m; and
    • Including 5.2 g/t over 5.5m.

To view Figure 1. Mikwam Exploration Cross Section, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/bf7f1bbb-0969-4ad6-a79c-eadb8d57b243

“We are very excited as we continue to see significant intersections of gold mineralization in our drilling of the Mikwam Property,” stated Mark N.J. Ashcroft, P. Eng, Aurelius President and CEO. “The Phase Two program continues to extend the existing mineralization and define the emerging higher-grade component of the Mikwam Gold Zone.”

The Phase Two program involved systematically drilling 17 holes on five north-south cross sections, on approximately 150m of strike, working out from hole AUL-18-07 of the Phase One program. Hole AUL-18-07 intersected 3.7 g/t gold over 22m (see press release dated May 30, 2018). The three holes, being reported today, contain several of the highest grade intervals to date at the Property. Drilling on the cross sections was designed to confirm our interpretation of the gold mineralization to a depth of approximately 300m on 30m to 40m spaced intersections. Mineralization remains open at depth and along strike.

To view Figure 2. Plan View of the Mikwam Drilling Program, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/ff129f7d-70fe-4cc2-870a-39d5ecf2b2b0

“We have encountered a very consistent gold zone at Mikwam and are very encouraged about the potential moving forward,” commented Jeremy Niemi, P.Geo., Vice President, Exploration. “We have successfully achieved our goals to gain an understanding of the controls on the gold mineralization and to expand the volume of mineralized rock. We are well positioned for the next round of work at the project to continue to grow the Mikwam Gold Zone and locate new gold zones on our Property.”

Hole AUL-18-15 intersected two intervals of important gold mineralization and is hosted in quartz-sulphide structures which cross-cut the lithology at the project:

• The first interval had a wider interval of 7.1 g/t gold over 26.1m through the main Mikwam Gold Zone. Within this interval the gold grades were consistently over 4 g/t in 21 of the 24 samples. The highest value sample was 24.3 g/t gold over 1m.
  
  
• The second interval of importance was intersected outside of the main Mikwam Gold Zone and into the footwall, which may be a new gold structure to follow up on. The second interval includes 9.9 g/t gold over 1m within a wider intersection grading 1.5 g/t gold over 8.1m.
  
  Intersections into the footwall and below the main mineralized body are encouraging and present new exploration targets for future campaigns. Very few holes to date on the project have tested to the south into the footwall of the Mikwam Gold Zone.

To view Figure 3. Core photo of rock grading 9.9 g/t gold in AUL-18-15 at 245m (center row), please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/0d58e57d-2488-4263-b256-5190edb71133

AUL-18-16 intersected three intervals of mineralization including 11.5m grading 8.2 g/t gold. Based on grades encountered in hole AUL-18-16 and surrounding holes the Company has gone back to the core and expanded the sampling in the hole and any significant assays will be reported in a future release.

Hole AUL-18-18 encountered several intersections of gold mineralization, including 11.5m grading 3.0 g/t gold. The hole was drilled between holes AUL-18-15 and AUL-18-16 to fill in a greater than 50m gap in the drilling such that 30m to 40m drill spacing was achieved on the cross section.

Table 1. Summary of Gold Intersections from Holes AUL-18-15, AUL-18-16 and AUL-18-18 at Mikwam Phase Two Drilling

^1. Intervals may not represent true width of the mineralized zone and gold values are not capped.

Remaining holes include AUL-18-16 (infill sampling), AUL-18-17 and AUL-18-19 through to AUL-18-27. The locations of all holes drilled in Phase Two by Aurelius are shown on Figure 2.

Mikwam contains an estimated inferred mineral resource¹ of 1.81 million tonnes grading 2.34 g/t gold, containing an estimated 136,000 ounces of gold as reported in the Technical Report dated December 8, 2016, compliant with NI 43-101 and filed on SEDAR.

^1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Estimated using a cut-off grade of 1.00 g/t gold. Tonnes have been rounded to the nearest 10,000, grade has been rounded to two significant digits and estimated ounces have been rounded to the nearest 1,000.

Table 2. Drillhole Locations and Orientations for Phase TWO Mikwam Drilling being Reported

All samples were submitted to Bureau Veritas in Timmins, Ontario, for sample preparation by crushing one kilogram to 70 per cent less than two millimetres, creation of a 500-gram split and then pulverizing to 85 per cent passing 75 microns. Sample pulps are submitted for gold analysis with a 30-gram fire assay and atomic absorption spectroscopy finish (code FA430). Samples returning higher than 10 parts per million gold were re-assayed with a 30-gram fire assay and gravimetric finish. Control samples (accredited gold standards, blanks and duplicates) were inserted into the sample sequence by Bureau Veritas on a regular basis to monitor precision of results.

Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company’s Qualified Person as defined by National Instrument 43-101 for the Abitibi Greenstone Belt properties, has reviewed and approved the technical information in this release.

About Aurelius

Aurelius is a well-positioned gold exploration company focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 944-hectare, 9-claim Mikwam Property in the Burntbush area on the Casa Berardi trend and the 11,593-hectare, 57-claim Lipton Property on the Lower Detour Trend. The Company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in the Abitibi and other proven mining districts.

Aurelius Minerals Inc.
Mark N. J. Ashcroft, President & CEO

For further information please contact:

Aurelius Minerals Inc.
Mark N.J. Ashcroft, President & CEO
info@aureliusminerals.com
Tel.: (416) 304-9095
www.aureliusminerals.com

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All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Aurelius within the meaning of applicable securities laws, including statements with respect, to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Aurelius’ public filings under Aurelius Minerals Inc.’s SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.