Extension of Silver-Gold Target In Ecuador

TORONTO - Aurania Resources Ltd. reported that while the scout drilling program at the Tsenken N2 copper target is ongoing, other exploration teams have discovered extensions to the areas of silver enrichment in soil previously reported from the Tiria-Shimpia silver-gold target over a cumulative length of 15 kilometers (km). Tiria-Shimpia is on the short-list for scout drilling when the program at Tsenken has been completed.

Keith Barron, Chairman and CEO, said, "Tiria-Shimpia is shaping up to be one of many compelling targets in Aurania's portfolio. Soil sampling has defined four main zones of silver enrichment that total 15 km in length. We're excited about this target area because the silver zone lies in the central part of a far larger mineralized system that, itself, lies on the flank of the biggest magnetic feature of our entire geophysical survey. Gold is slightly enriched adjacent to silver in some parts of the mineralized system - and those areas will be investigated as specific gold-silver targets, while most of the silver occurs with zinc, lead and barium. We expect the roots of the mineralization to be a system of veins from which mineralization likely seeped into the layering of the limestone host rock to form flat-lying "mantos. Our plan is to refine the targets with additional field work during which time the scout drilling program for Tiria-Shimpia will be planned."

Soil sampling at the Tiria-Shimpia target has defined a large mineralized system that covers an area 75 square kilometers in extent - and is still open along trend - on the margin of a large, intensely magnetic feature that is interpreted to be a porphyry cluster. The silver zone lies in the central part of a more extensive area of enrichment of lead and zinc with epithermal pathfinder elements such as antimony, mercury, selenium, thallium and arsenic. Minor enrichment of gold occurs with, or close to, some of the silver-rich areas. Rock-chip samples from boulders had grades of up to 710g/t silver and 48% zinc, while the highest grade samples from outcrop were 356g/t silver with 12.7% zinc and 11% lead and a subsequent sample with 199g/t silver, 22% zinc and 20.6% lead. Epithermal-type pathfinder elements of naturally-occurring arsenic, mercury, antimony, thallium and selenium lie along the same fault structures as the silver, zinc and lead.

Despite the large size of the target area at Tiria-Shimpia, regional exploration in adjacent areas suggests that the system is larger and soil sampling will be done to refine those potential extensions. In addition, grid soil sampling will be done to further refine existing target areas so that scout drilling can be efficiently planned.