Advancement Of Tiria-Shimpia Silver-Gold Target Towards Drilling

TORONTO - Aurania Resources Ltd. reported that initial drill sites have been selected to test high-grade silver zones in the Tiria-Shimpia silver-gold target in the Company's Lost Cities - Cutucu Project ("Project") in southeastern Ecuador. Tiria-Shimpia is a large target area that is over 75 square kilometers in extent. The Company's exploration efforts in this area have been guided by its similarity to the silver-zinc-lead deposits of the Colquijirca district in Peru that contains the Cerro de Pasco deposit that was mined for silver by the Colonial Spanish from the year 1630 - and is still being mined.

Chairman & CEO, Keith Barron, said, "Intensive geological mapping in the region of Tiria-Shimpia as well as a compilation of the geological work of all the exploration teams along the 15 kilometer trend is indicating that the mineralization is not a simple vein system as previously thought, but is following both fault zones and the sedimentary layering of the host rock. It appears to be a vein-manto type of environment where silver, zinc, lead and epithermal pathfinders have travelled upwards through faults and then spread laterally along the horizons, replacing limestone (manto in Spanish means "mantle" and denotes flat-lying or nearly so bodies). In plan view, the soil geochemistry is showing enrichments along ridge crests where erosion has cut the mineralized sedimentary layers. It might be hard to visualize, but the anomalies are linear when viewed from above, and so at first glance the mineralization appears as a fault-controlled vein swarm, but mapping is showing mineralization across trend for a distance of up to 3 kilometers. The best way to explain it, is that these are crumpled sheets of mineralized limestone, with vertical feeders, potentially with a width of up to 3 kilometers and a trend of up to 15 kilometers. We have flown MobileMT over part of Tiria-Shimpia to test whether the geophysics detects pyrite associated with the silver-zinc-lead to assist us in selecting specific drill sites."

Outcrops in two streams 1.5 kilometers (km) apart on the northwestern margin of the Tiria-Shimpia target contain high-grade silver: the one 356 grams per tonne (g/t) with 12.7% zinc and the other 199 g/t silver with 22% zinc. Drill sites have been selected to test these high-grade zones at depth, as illustrated in. Silver values in soil samples suggest that the two outcrops are connected beneath soil cover - a concept that will be tested in the planned drill program. In fact, the area of enrichment in soil continues well beyond the two outcrops, extending over an area 3 km long, in which scattered outcrops range in grade from 1.4 to 356g/t silver with 1 to 22% zinc. The Tiria-Shimpia target contains six other extensive zones of silver enrichment in soil that are being investigated through the construction of detailed geological profiles.