Aurion Resources Ltd. Confirms Hinge Zone Discovery at Launi East Property

• Launi East
• • Intersected zones of gold mineralization up to 13.45 m wide over 550 m strike length
  • Best interval 3.05 g/t Au over 5.30 m, individual samples up to 7.77 g/t Au
  • Shallow - intercepts within 100 m from surface
• Kaaresselkä
• • Drilling extends gold mineralization at depth and along strike at Vanha target
• Exploration activities ongoing - including scout drilling and base of till sampling

Summary

Gold Mineralization Confirmed at Launi East Hinge Zone
Widely spaced drill holes intersected zones of gold mineralization up to 13.45 m wide at shallow depths over a strike length of over 550 m along a 1.0 km long magnetic anomaly trend. Gold mineralized intervals average from 0.30 g/t to 3.05 g/t, with individual samples of up to 7.77 g/t, including 3.05 g/t over 5.30 m (LN20050 from 106.50 m down hole).

Encouraging Results from Aurion's Maiden Drill Program at Kaaresselkä
Drill intercepts including 1.52 g/t Au over 2.85 m (KS20001 from 306.50 m down hole) and 1.85 g/t Au over 5.40 m (KS20002 from 199.00 m down hole) extend the gold mineralized zone to ~200 m depth and to ~600 m strike length at Vanha target on the Kaaresselkä prospect.

Comments
"We are excited to confirm the Hinge Zone target on the Launi East Property is emerging as our second significant drilling discovery," commented Matti Talikka, Aurion's CEO. "Aurion's first discovery at Aamurusko was proven by drilling during the third campaign and approximately 20 months after surface sampling provided evidence of a large gold system. Launi is following a similar trajectory. Since 2017, our Aamurusko and Launi discoveries, in addition to the Ikkari discovery by Rupert, along our mutual boundary, have demonstrated the area near the Sirrka Shear in the Central Lapland Greenstone Belt to be amongst the most promising new gold camps in the world. We are excited to be continuing to advance our many prospective targets in this area"

Gold Mineralization Confirmed at Launi East Hinge Zone
Aurion completed a 7-hole, 1,007.60 m diamond core drilling program at the Hinge Zone target at the Launi East property. The program was designed to follow up on the scout drill program completed during the Spring of 2020 (see news release July 27, 2020) where gold values were intersected in an interpreted shear zone.

Widely spaced drilling tested over 550 m of strike of an over 1.0 km long magnetic anomaly and intersected zones of gold mineralization up to 13.45 m wide at shallow depths. The gold mineralization is mainly hosted within silicified, chloritized, magnetite-bearing, sheared and quartz veined intervals of volcanogenic sediments close to the contact zone to an intermediate volcanic unit. The location and dimensions of the magnetite-bearing unit correlates with the magnetic anomaly trend and provides guidance on the orientation and geometry of the potentially gold mineralized trend. The locations of drill holes are shown in Figure 1 and a list of results is provided in Table 1.

The till covered Hinge Zone target is located between the Christmas Deformation Zone and Midsommer targets on the northwestern portion of the Launi East property. Past exploration activities have returned a large number of significant gold values in boulders, outcrops and drilling in the Christmas Deformation Zone and Midsommer targets since the discovery of gold indications in 2018. The presence of gold mineralization in various lithologies and structures within an area of 1.3 km by 1.0 km suggests potential for a robust gold mineralization event of which the Hinge Zone target may represent one of the key structural components. The Launi East property totals 4,276 ha of which only a minor portion has been tested by mapping, trenching or drilling.

Table 1: Launi East Hinge Zone drilling summary

Link to Figure 1: Map of the Launi East Hinge Zone target -
https://aurionresources.com/site/assets/files/1373/nr20-16figure_1.pdf.

LN20050 was drilled along the same profile with the scout drill hole LN20042, which intersected a highly weathered and broken fault zone and returned elevated gold values from an interval with 92% core loss (see new release July 27, 2020). LN20050 intersected 3.05 g/t Au over 5.30 m from 106.50 m down hole within a broader zone of 1.60 g/t Au over 11.95 m from 100.30 m down hole. In addition, a narrow gold intercept of 1.61 g/t Au over 0.70 m from 36.40 m down hole was encountered within saprolitic material containing fragments of quartz veins. This gold bearing saprolitic zone may indicate the presence of a gold mineralized zone spatially associated with another additional geophysical anomaly trend. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values.

LN20051 was collared 50 m to NW from LN20050 and intersected 4.11 g/t Au over 1.00 m from 123.35 m and 1.36 g/t Au over 1.10 m. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values.

LN20052 was collared 110 m to SE from LN20050 to the tip of the magnetic anomaly and intercepted a narrow, lower grade zone of 0.67 g/t Au over 0.50 m. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values.

LN20055 was collared 50 m to SE from LN20050 and 60 m to NW from LN20052 and returned gold intercepts of 2.99 g/t Au over 0.85 m from 73.30 m down hole and 1.34 g/t Au over 0.75 m from 140.85 m down hole within a wider zone of elevated gold of 0.29 g/t Au over 11.25 m from 133.35 m down hole. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values.

LN20056 was collared 50 m to NW from LN20051 and returned gold intercepts of 1.31 g/t Au over 5.30 m from 109.30 m down hole including 2.83 g/t Au over 1.80 m from 110.30 m down hole. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values.

LN20057 was collared 125 m to NW from LN20056 and returned 0.99 g/t Au over 4.20 m from 138.40 m down hole within a wider zone of 0.42 g/t Au over 13.45 m from 130.60 m down hole. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values.

LN20058 was collared 340 m to WNW from LN20057 and targeted extension of the magnetic anomaly further to west following a bend of the magnetic anomaly trend. The drill hole intersected several gold mineralized intervals including 5.87 g/t Au over 0.90 m from 18.55 m down hole, 2.61 g/t Au over 0.45 m from 51.80 m down hole and 1.77 g/t Au over 1.45 m from 55.35 m down hole. In addition, the drill hole intersected intervals with anomalous (>0.1 g/t) gold values such as 0.29 g/t over 13.05 m from 22.30 m down hole.

The distance between the southeasternmost (LN20052) and northwesternmost (LN20058) drill holes is ~625 m and the prospective geophysical anomaly trend continues for a further 500 m to NW from drill hole LN20058.

Two drill holes (LN20053 and LN20054) were drilled to test the Stubley Zone target, which is located ~2.7 km south of the Hinge Zone target and contains angular blocks of quartz veins exhibiting crack-seal and breccia textures. Both drill holes intercepted 0.3 to 3.35 m wide (down hole length) quartz veins and drill hole LN20053 returned a narrow intercept of 0.45 m @ 1.43 g/t Au from 38.10 m downhole length. LN20054 did not return significant gold values.

Encouraging Initial Results from Kaaresselkä Maiden Drill Program

Aurion completed a maiden 12-hole, 2,401.3 m diamond core drilling program testing four targets (Vanha, Lampi South, Lampi North, Tienvarsi) within the Kaaresselkä prospect area (2.0 km by 1.0 km). The program was designed to test the potential strike and depth extensions of previously identified mineralized zones, which were largely limited to 50-150 m from surface, as well as targets identified from re-interpretation of historic exploration data. The locations of drill holes are shown in Figure 2 and a list of results is provided in Table 2.

Table 2: Kaaresselkä drilling summary.

Link to Figure 2: Map of the Kaaresselkä prospect, Risti property -
https://aurionresources.com/site/assets/files/1373/nr20-16figure2.pdf.

Vanha target
KS20001 targeted the depth extensions of historic gold intercepts (4.88 g/t Au over 2.0 m, 1.2 g/t Au over 1.0 m and 1.21 g/t Au over 4.0 m) at shallow depths (max 50 m). The drill hole intersected a wide (~200-300 m down hole length) zone of strongly altered (silicification and carbonatization) and sheared mafic volcanic rocks and graphitic sediments returning gold intercepts of 1.71 g/t Au over 1.15 m from 296.40 m down hole, 1.52 g/t Au over 2.85 m, and several intervals with elevated (>0.1 g/t) gold values. The mineralized zone is interpreted to be subvertical and continue to at least 230 m vertical depth. The drill hole also intersected previously unknown parallel zones of alteration and deformation that returned 0.93 g/t Au and 1.08% Cu over 0.65 m from 40.70 m down hole and 0.26 g/t Au and 1.20 % Cu over 3.10 m from 85.85 m down hole.

KS20002 was collared along a profile ~60 m to W from KS20001 and targeted the depth extension of gold mineralized zones identified in historic exploration. The drill hole intersected 1.85 g/t Au over 5.50 m from 199.00 m down hole including 8.91 g/t Au over 0.95 m from 199.00 m down hole within a wider zone of strongly deformed and altered mafic volcanic rocks and graphitic schists.

KS20003 was collared ~300 m to E from KS20001 to test the strike extension of the EW trending structural trend. The drill hole returned an intercept of 1.27 g/t Au over 4.00 m within a wider zone of strongly deformed and altered mafic volcanic rocks and graphitic schists. The gold mineralized trend is open and untested towards east.

The three drill holes extended the gold mineralized zones to 200 m depth and 600 m strike length along the east-west trending structural corridor coinciding with the Sirkka Shear Zone. The mineralization at Vanha is open to depth and towards east.

Lampi South, Lampi North, and Tienvarsi
Drill holes KS20004-KS20012 tested several gold indications in the western part of the Kaaresselkä prospect area. Several drill holes intersected zones of altered and deformed mafic volcanic and sedimentary rock units with varying levels of gold ranging from nil to ~3 g/t Au over narrow widths.

Quality Assurance and Quality Control
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). 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 is a Canadian exploration company listed on the TSX Venture Exchange (TSX-V:AU) and 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 joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. 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: (416) 371-1325, Email: msantarossa@aurionresources.ca