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Aurelius Minerals Inc. Announces Non-Brokered Equity Financing of Up To $1.25 Million

12.08.2022  |  Newsfile
And Also Announces Additional High Grade Results with Channel 944L-042 Yielding 365g/t Au Over 2.0m, Including 1,425 g/t Au Over 0.5m

Highlights from Underground Channel Sampling Program
  • - Significant gold mineralization identified in north limb of 944 Level ("944L")
  • - Demonstrates excellent continuity of gold grades between north and south limbs
  • - 944L demonstrates substantial amounts of gold were left in the floor and walls of the development.
    • Highlighted samples from the 944L include
      • Channel 944L-024, grading 34.6 g/t Au over 1.6 metres (m),
        • Including 90.5 g/t Au over 0.6m;
      • Channel 944L-026, grading 14.6 g/t Au over 1.6m,
        • Including 35.8 g/t Au over 0.6m;
      • Channel 944L-029, grading 13.3g/t Au over 1.1m,
        • Including 23.9 g/t Au over 0.6m;
      • Channel 944L-032, grading 21.2 g/t Au over 3.7m,
        • Including 54.2 g/t Au over 1.4m;
      • Channel 944L-030, grading 16.1 g/t over 2.3m,
        • Including 59.1 g/t Au over 0.6m;
      • Channel 944L-042, grading 365 g/t over 2.0m,
        • Including 1,425 g/t Au over 0.5m;
      • Channel 944L-043, grading 14.0 g/t Au over 1.6m,
        • Including 52.6 g/t Au over 0.6m.
  • - Gold mineralization from channels in 944L is not currently represented in the resource model and offers a significant opportunity for improvement. Results were received after the resource cutoff date. There are no reported resources in that zone in the recently released resource.


Toronto, August 12, 2022 - Aurelius Minerals Inc. (TSXV: AUL) (OTCQB: AURQF) (the "Company" or "Aurelius") announces that it intends to complete a non-brokered private placement offering (the "Offering") consisting of (i) common shares of the Company ("Common Shares") at a price of $0.10 per Common Share and common shares which will qualify as "flow-through shares" (as defined in subsection 66(15) of the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $0.12 per Flow-Through Share. The aggregate gross proceeds of the Offering will be up to $1.25 million.

The Company has received conditional approval for the offering, subject to completion on or before September 9, 2022, unless a further extension is granted by the TSXV.

This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will be not be registered under the United States Securities Act of 1933 as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

The net proceeds from the sale of Common Shares will be used by the Company for corporate and general working capital purposes, and an amount equal to the gross proceeds from the sale of Flow-Through Shares will be used to incur eligible "Canadian exploration expenses" as defined under the Income Tax Act (Canada) related to the Canadian properties of the Company, on or before December 31, 2023. The Company will renounce to the purchasers of the Flow-Through Shares such Canadian exploration expenses with an effective date of not later than December 31, 2022.

Underground Channel Sampling Program

Aurelius is also pleased to report results from its on-going underground channel sampling program at its flagship Aureus East Project in Nova Scotia, Canada. Focused channel sampling programs on 944L have been completed along the north and south limbs which are exposed in the existing underground development infrastructure. The gold mineralization in the 944L channels offer a significant opportunity to add new high-grade mineralization to the current mineral resource for Aureus East and potential to increase the gold resource.

Aurelius Minerals CEO, Mark Ashcroft, said, "These results, including the highest grade we have encountered to date, continue to demonstrate the extent and continuity of gold in this mineral system. In the 944L channel sampling, we have not just demonstrated the consistent nature of the gold mineralization in the south limbs along the strike of the drift, we have also demonstrated the continuity along the north limb system, on the opposite side of the drift. The diligent work of our exploration team continues to expand and improve the understanding of the very significant Aureus East gold system."

944 Level Gold Zone

The gold mineralization sampled through the 944L channel sampling program has demonstrated strong grade continuity and is an important zone since it is not included in the mineral resource estimate for Aureus East and offers potential for resource growth. The channels are cut 2 metres apart into the floor of the underground development. The north channels are located on the opposite (north) side of the underground development and approximately 5 to 7m away from the previously reported south channels. Each channel location is surveyed and sampled following our quality assurance and quality control (QAQC) procedures and can be included in future resource estimation work. Significant factors about the zone include:

  • - High gold grades
    • Average of all 182 channel samples is 17.8 g/t Au (length weighted, uncapped)
    • Highest grades encountered at Aureus East Project to date
      • 1,425 g/t Au in channel 944L-042
      • 501 g/t Au in channel 944L-023 (see press release dated April 28, 2022)
  • - Strong gold continuity
    • 24 of 43 channels had samples over 10 g/t Au
    • 20 samples from 19 distinct channels had grades over 30 g/t Au
  • - Ideally positioned for resource growth
    • Located 120m from the surface
    • Surface drilling can potentially expand the gold mineralization into the limbs
    • Limbs of other zones are up to 100m in length both to the north and south

The locations of the channels are displayed in Figure 1, which shows strong continuity of significant gold intercepts that were not included in the mineral resource estimate to date. The continuity of the results along strike has the potential to expand the resource in the future. Figure 2 displays the multiple areas where the channel sampling program has been completed to date. Figure 3 shows a photo of the highest grading gold sample to date which displays coarse visible gold from channel 944L-042 of underground within existing development on the 944L. This sequence of channel samples highlights the continuity of high-grade gold mineralization left in the underground development.



Figure 1. Section showing 944L Channel sampling program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7140/133578_72c5019e9460cbbb_002full.jpg



Figure 2. Long section showing locations of channel sampling programs.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7140/133578_72c5019e9460cbbb_003full.jpg



Figure 3. Coarse visible gold in channel sample 944L-042 grading 1,425 g/t Au over 0.5m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7140/133578_72c5019e9460cbbb_005full.jpg

Next Steps

Building on the positive results seen to date, the channel sampling program has been expanded to other areas to refine the geological model and potentially identify additional gold mineralization outside of the mineral resource.

Currently an expanded campaign of sampling, relogging and potentially re-interpreting the historical core is also underway at Forest Hill and Aureus East. At Forest Hill, 7 holes have been relogged and 408 new samples covering 376m have been taken. At Aureus East, there is over 10,000m of unsampled historical core in the vicinity of the near surface mineral resources. Sampling of this core will assist in refining the near surface geological model and potentially identify overlooked gold mineralization and define new drill targets.

Table 1. Channel sample locations, lengths and orientations

Location Channel ID Easting Northing Elevation Length Azimuth Dip
940E AE-CHN-940E-001 547,887 4,979,903 -69 2.60 155 1
940E AE-CHN-940E-002 547,891 4,979,904 -69 2.60 168 0
940E AE-CHN-940E-003 547,895 4,979,905 -69 2.70 172 3
940E AE-CHN-940E-004 547,898 4,979,906 -69 2.85 167 2
940E AE-CHN-940E-005 547,904 4,979,907 -69 2.75 158 7
940E AE-CHN-940E-006 547,906 4,979,908 -69 3.00 164 4
940E AE-CHN-940E-007 547,909 4,979,908 -69 2.20 299 88
940E AE-CHN-940E-008 547,910 4,979,908 -69 1.95 39 82
940E AE-CHN-940E-009 547,914 4,979,909 -70 2.05 105 88
940E AE-CHN-940E-010 547,918 4,979,909 -70 2.00 190 6
940E AE-CHN-940E-011 547,921 4,979,910 -70 2.60 172 5
940E AE-CHN-940E-012 547,924 4,979,910 -70 2.65 176 5
940E AE-CHN-940E-013 547,929 4,979,910 -71 2.15 163 16
940E AE-CHN-940E-014 547,889 4,979,904 -69 2.50 165 4
940E AE-CHN-940E-015 547,893 4,979,905 -69 2.50 171 0
940E AE-CHN-940E-016 547,897 4,979,906 -69 3.00 170 3
940E AE-CHN-940E-017 547,912 4,979,909 -69 1.90 176 13
940E AE-CHN-940E-018 547,916 4,979,909 -70 2.85 182 19
940E AE-CHN-940E-019 547,927 4,979,910 -70 2.25 176 13
940E AE-CHN-940E-020 547901 4979908 -69 4.5 170 4
940E AE-CHN-940E-021 547902 4979907 -69 2.9 170 0
940E AE-CHN-940E-022 547913 4979910 -70 2.9 178 4
940E AE-CHN-940E-023 547894 4979907 -68 7.75 85 -3
940E AE-CHN-940E-024 547909 4979908 -69 3.1 246 -10
940R AE-CHN-940R-001 547,891 4,979,947 -62 3.50 170 1
940R AE-CHN-940R-002 547,893 4,979,938 -62 2.00 165 -1
944L AE-CHN-944L-001 547,828 4,979,891 -58 1.60 314 69
944L AE-CHN-944L-002 547,826 4,979,891 -59 1.55 350 78
944L AE-CHN-944L-003 547,824 4,979,891 -59 2.50 168 11
944L AE-CHN-944L-004 547,822 4,979,891 -59 2.50 161 16
944L AE-CHN-944L-005 547,820 4,979,890 -59 3.15 149 10
944L AE-CHN-944L-006 547,818 4,979,889 -59 2.30 340 86
944L AE-CHN-944L-007 547,816 4,979,888 -59 3.00 151 14
944L AE-CHN-944L-008 547,814 4,979,887 -59 2.75 147 4
944L AE-CHN-944L-009 547,814 4,979,886 -59 2.30 326 76
944L AE-CHN-944L-010 547,811 4,979,885 -59 3.00 149 20
944L AE-CHN-944L-011 547,810 4,979,883 -59 2.35 330 77
944L AE-CHN-944L-012 547,809 4,979,882 -59 2.50 169 88
944L AE-CHN-944L-013 547,807 4,979,881 -59 2.50 124 88
944L AE-CHN-944L-014 547,805 4,979,880 -59 2.40 124 88
944L AE-CHN-944L-015 547,803 4,979,880 -59 2.35 145 9
944L AE-CHN-944L-016 547,801 4,979,879 -59 2.10 147 7
944L AE-CHN-944L-017 547,799 4,979,879 -58 2.00 156 20
944L AE-CHN-944L-018 547,798 4,979,878 -58 2.00 152 35
944L AE-CHN-944L-019 547,796 4,979,877 -58 2.00 146 10
944L AE-CHN-944L-020 547,794 4,979,876 -58 2.50 158 12
944L AE-CHN-944L-021 547,793 4,979,875 -58 1.50 147 18
944L AE-CHN-944L-022 547,792 4,979,875 -58 1.50 164 31
944L AE-CHN-944L-023 547,789 4,979,874 -58 1.50 164 31
944L AE-CHN-944L-024 547786 4979878 -58 2.1 59 88
944L AE-CHN-944L-025 547788 4979879 -59 1.65 0 0
944L AE-CHN-944L-026 547790 4979879 -59 1.6 1 16
944L AE-CHN-944L-027 547792 4979880 -59 1.5 340 23
944L AE-CHN-944L-028 547794 4979881 -58 2.1 336 15
944L AE-CHN-944L-029 547795 4979882 -58 1.55 332 6
944L AE-CHN-944L-030 547797 4979883 -58 2.3 326 4
944L AE-CHN-944L-031 547799 4979884 -59 1.75 330 29
944L AE-CHN-944L-032 547801 4979884 -59 3.65 340 4
944L AE-CHN-944L-033 547803 4979886 -59 2.6 340 4
944L AE-CHN-944L-034 547804 4979887 -59 2 120 85
944L AE-CHN-944L-035 547806 4979888 -59 2 130 85
944L AE-CHN-944L-036 547808 4979889 -58 2 106 86
944L AE-CHN-944L-037 547810 4979890 -58 1.5 359 83
944L AE-CHN-944L-038 547811 4979891 -59 2 102 83
944L AE-CHN-944L-039 547813 4979892 -59 2.4 325 12
944L AE-CHN-944L-040 547815 4979891 -59 3.9 336 3
944L AE-CHN-944L-041 547818 4979892 -59 4.6 335 1
944L AE-CHN-944L-042 547788 4979873 -59 2 160 11
944L AE-CHN-944L-043 547786 4979873 -59 2.1 159 14
944L AE-CHN-944L-044 547785 4979877 -58 2 173 86
985R AE-CHN-985R-001 548,000 4,979,945 -10 4.10 347 1
985R AE-CHN-985R-002 548,002 4,979,946 -10 3.40 347 -1
985R AE-CHN-985R-003 548,004 4,979,946 -10 4.20 345 2
985R AE-CHN-985R-004 548,006 4,979,947 -11 4.00 348 6
985R AE-CHN-985R-005 548,008 4,979,947 -11 4.10 350 -1
985R AE-CHN-985R-006 548,010 4,979,947 -11 3.50 351 3
985R AE-CHN-985R-007 548,012 4,979,948 -11 3.50 351 0
985R AE-CHN-985R-008 548,014 4,979,948 -12 3.60 349 8
985R AE-CHN-985R-009 548,016 4,979,949 -12 3.60 348 3
985R AE-CHN-985R-010 548,018 4,979,947 -12 5.60 342 0
985R AE-CHN-985R-011 548,020 4,979,949 -12 4.20 350 1
985R AE-CHN-985R-012 548,022 4,979,950 -13 3.10 346 3
985R AE-CHN-985R-013 548,024 4,979,950 -13 4.00 350 2
985R AE-CHN-985R-014 548,026 4,979,950 -13 4.30 348 3
985R AE-CHN-985R-015 548,028 4,979,951 -14 4.30 351 6
985R AE-CHN-985R-016 548,029 4,979,952 -14 3.70 344 4
985R AE-CHN-985R-017 548,031 4,979,952 -14 4.20 347 5

Table 2. Aureus East underground channel sampling results from 940 level, 944 level and 985 levels

Channel Length Au gpt
AE-CHN-985R-001 1.1 7.58
including 0.6 12.3
AE-CHN-985R-002 2.1 1.19
AE-CHN-985R-003 2 8.09
including 0.5 9.82
and 0.5 21.5
AE-CHN-985R-004 3.5 1.4
including 0.5 7.89
AE-CHN-985R-005 1.1 4.6
including 0.5 9.02
AE-CHN-985R-006 3.5 4.35
including 0.5 5.88
and 0.5 22
AE-CHN-985R-007 1 0.98
AE-CHN-985R-008 3.6 2.2
including 0.5 5.45
and 0.6 6.62
AE-CHN-985R-009 1.6 11.5
including 0.5 25.5
and 0.6 9.18
AE-CHN-985R-010 5 3.23
including 0.5 15.1
and 0.5 8.43
AE-CHN-985R-011 4.2 1.46
AE-CHN-985R-012 2.6 2.41
including 0.6 8.84
AE-CHN-985R-013 4 1.75
including 0.5 5.99
AE-CHN-985R-014 4.3 4.5
including 0.6 28.6
AE-CHN-985R-015 3.7 0.88
AE-CHN-985R-016 3.2 2.7
including 0.5 8.18
and 0.5 6.83
AE-CHN-985R-017 4.2 1.49



AE-CHN-940E-001 2.6 8.36
including 2.1 10.3
AE-CHN-940E-002 2.6 10.1
including 2.1 12.5
AE-CHN-940E-003 2.7 1.54
including 1.1 3.51
AE-CHN-940E-004 2.85 3.97
including 1.85 5.96
AE-CHN-940E-005 2.75 0.5
including 1.25 1.01
AE-CHN-940E-006 3 1.34
including 0.6 4.91
AE-CHN-940E-007 2.2 34.7
including 0.6 126.5
AE-CHN-940E-008 1.95 14
including 0.95 28.5
AE-CHN-940E-009 2.05 0.68
including 1 1.16
AE-CHN-940E-010 2 1.77
including 1 3.44
AE-CHN-940E-011 2 3.37
including 1.5 4.46
AE-CHN-940E-012 2.1 15
including 1.5 20.9
AE-CHN-940E-013 1.6 4.73
including 1 7.5
AE-CHN-940E-014 2.5 4.81
including 2 5.93
including 0.5 21.4
AE-CHN-940E-015 2 3.21
including 1 6.17
AE-CHN-940E-016 3 1.37
including 1 3.76
AE-CHN-940E-017 1.9 5.1
including 1 9.59
AE-CHN-940E-018 2.85 6.98
including 1.35 14.5
AE-CHN-940E-019 2.25 2.11
including 1.75 2.63
AE-CHN-940E-020 1.5 4.94
AE-CHN-940E-021 1.8 1.68
AE-CHN-940E-022 2.9 17.6
including 0.7 70
AE-CHN-940E-023 1.5 0.53



AE-CHN-940R-001 0.5 0.11



AE-CHN-940R-002 0.5 0.34



AE-CHN-944L-001 1.1 32.2
including 0.6 58.2
AE-CHN-944L-002 1.55 39.1
including 0.65 90.1
AE-CHN-944L-003 1 0.76
AE-CHN-944L-004 2 9.14
including 0.4 42.1
AE-CHN-944L-005 2 14.5
including 0.7 40.6
AE-CHN-944L-006 1.8 2.09
AE-CHN-944L-007 1.5 6.37
including 0.6 15
AE-CHN-944L-008 1.75 0.61
AE-CHN-944L-009 2.3 2.38
AE-CHN-944L-010 1.35 12.8
including 0.45 32.9
AE-CHN-944L-011 1.3 22.2
including 0.5 46.6
AE-CHN-944L-012 1.55 15.3
including 0.55 41.3
AE-CHN-944L-013 2.2 6.33
including 0.6 20
AE-CHN-944L-014 1.8 11.9
including 0.55 37.5
AE-CHN-944L-015 1.25 21.7
including 0.55 48.1
AE-CHN-944L-016 1.6 27.5
including 0.55 77
AE-CHN-944L-017 2 32.9
including 0.5 121
AE-CHN-944L-018 1 0.84
AE-CHN-944L-019 1.5 9.67
including 0.5 28
AE-CHN-944L-020 2 1.99
AE-CHN-944L-021 1 39.2
including 0.5 78
AE-CHN-944L-022 1 4.16
including 0.5 7.68
AE-CHN-944L-023 1.5 168
including 0.5 501
AE-CHN-944L-024 1.6 34.6
including 0.6 90.5
AE-CHN-944L-025 1.65 3.97
including 0.65 9.43
AE-CHN-944L-026 1.6 14.6
including 0.6 35.8
AE-CHN-944L-027 1.5 3.23
including 0.5 8.46
AE-CHN-944L-028 1.55 1.46
AE-CHN-944L-029 1.05 13.3
including 0.55 23.9
AE-CHN-944L-030 2.3 16.1
including 0.6 59.1
AE-CHN-944L-031 1.75 0.34
AE-CHN-944L-032 3.65 21.2
including 1.4 54.2
AE-CHN-944L-033 2.6 5.91
including 0.8 18.8
AE-CHN-944L-034 2 0.95
AE-CHN-944L-035 2 1.96
including 0.5 6.32
AE-CHN-944L-036 2 1.85
including 0.5 5.54
AE-CHN-944L-037 1.5 0.46
AE-CHN-944L-038 1.5 0.23
AE-CHN-944L-039 1.2 5.48
including 0.5 9.98
AE-CHN-944L-040 3.3 1.65
AE-CHN-944L-041 1.9 1.95
AE-CHN-944L-042 2 365
including 0.5 1425
AE-CHN-944L-043 1.6 14
including 0.6 52.6
AE-CHN-944L-044 1.5 1.04​

COVID-19 Precautions

Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia. Protocols were put in place to ensure the safety of our employees and contractors, thereby reducing the potential for community contact and spreading of the virus.

Qualified Person and Analytical Procedures

Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release.

Individual drill core samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped by courier for analyses to ALS Geochemistry, Moncton, New Brunswick. Sample preparation occurs at ALS in Moncton where samples are weighed, dried, crushing one kilogram to 70 percent less than two millimeters and then pulverized to create a one-kilogram sample with 85 percent less than seventy-five microns. Potential high-grade gold samples are sent for metallic screen fire assay and remaining material is assayed for 50-gram fire assay and samples grading more than 100 parts per million have a gravimetric finish performed. When visible gold is encountered the Company samples both halves of the core. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed. The Company inserted control samples (accredited gold standards, blanks and duplicates) at least every 20 samples and monitors the control samples inserted by ALS.

About Aurelius

Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus Gold Properties, including Aureus East and West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company's press release of November 18, 2019.

Aurelius is also 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 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend.

The Company has a 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 Nova Scotia, the Abitibi and other proven mining districts.

On Behalf of the Board
Aurelius Minerals Inc.

For further information please contact:

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

Neither 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.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Aurelius. 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 completion of the Offering on the terms described herein or at all, the use of proceeds of the Offering, the Company's planned drilling and exploration activities, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" , "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Aurelius to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, anticipated costs and ability to achieve goals.

Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Aurelius believes its expectations are based upon reasonable assumptions and 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. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the Inferred Mineral resources could be upgraded to Indicated Mineral Resources.

The Company provides forward-looking information 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 known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company's proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius' public filings under Aurelius' 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. Accordingly, readers should not place undue reliance on forward-looking statements. 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. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. 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.

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATON INTO THE UNITED STATES

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Aurelius Minerals Inc.
Bergbau
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CA05156E4076
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