Aurion Amends and Closes Option Agreement to Repurchase Royalties

ST. JOHN'S NL, July 10, 2023 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") announces that it has amended and closed the option agreement with Dragon Mining Ltd. ("Dragon") to acquire and eliminate all encumbrances on the Kutuvuoma and Silasselkä projects, as disclosed in the news release dated May 31, 2023.

Aurion has issued to Dragon 37,500 common shares of Aurion as consideration for the grant of the option. The agreement has been amended to provide that the number of consideration shares that may be issued to Dragon under the agreement will not result in Dragon owning, or having control or direction over, more than 9.9% of the then-issued shares of Aurion. Should the payment result in the potential for that occurring, the balance of the applicable payment will be made in cash.

The amended option agreement has been accepted by the TSX Venture Exchange.

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, CEO

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.