Aurania Raises C$5.2 Million from the Exercise of Warrants

Toronto, Ontario--(Newsfile Corp. - January 9, 2020) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to report that shareholders exercised warrants to a value of C$5,234,061 by the expiry date of December 29, 2019. These warrants, each of which entitled the holder to purchase one common share of Aurania at C$3.00, were issued in private placements undertaken by the Company in 2017 and 2018. Following the exercise of these warrants, Aurania has 38,368,100 common shares outstanding.

One set of warrants was issued pursuant to Aurania's 2017 private placement financing and were extended from an expiry date of October 19, 2019 to December 29, 2019. The other set of warrants were issued in June 2018 as part of Aurania's 2018 private placement (tranche one) and expired on December 29, 2019. There were also a number of warrants exercised from tranche two of Aurania's 2018 private placement, which have an expiry date of March 6, 2020.

About Aurania

Aurania is a junior mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper. 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.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir
Manager - Investor Services
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

Dr. Richard Spencer
President
Aurania Resources Ltd.
(416) 367-3200
richard.spencer@aurania.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51274