gold and copper exploration in ecuador · high-level epitermal textures; 100km. 2. area of elevated...

Gold and Copper Exploration in Ecuador

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Forward Looking Statements

2018-04-30 2

This presentation contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which arebeyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives orgoals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements maybe identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks anduncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actualresults will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actualevents, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-lookinginformation. Forward-looking information in this presentation includes, but is not limited to, Aurania’s company’s objectives, goals or futureplans, statements, exploration results, potential mineralization, the company’s portfolio, treasury, management team and enhanced capitalmarkets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations andestimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but arenot limited to, failure or inability to complete the Transaction on the terms as proposed, failure to obtain the required approvals of the Aurania’sshareholders and regulators, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability tocomplete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining orfailures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty toaccommodate the indigenous communities, uncertainties relating to the availability and costs of financing needed in the future, changes in equitymarkets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operatingcosts varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set outin Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-lookinginformation in this presentation are reasonable, undue reliance should not be placed on such information, which only applies as of the date of thispresentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention orobligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than asrequired by law. The technical information contained in this presentation has been verified and approved by Aurania's Chief Geologist, Jean-PaulPallier, a designated EurGeol by the European Federation of Geologists and "Qualified Person" for the purpose of National Instrument 43-101,Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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The Opportunity

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Experienced team with track record of discoveries; committed to community engagement

Ecuador is an exploration hot spot

Project area is along trend of major gold-copper belt; underexplored

Multi target potential:Sequenced exploration approachFirst target being readied for drilling

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Board of Directors/Management

4

Keith Barron, Ph.D.CEO and Chairman

Richard Spencer, Ph.D., P.Geo., C.Geol.President and Director

Elaine Ellingham, M.Sc., MBA, P.Geo.Director

Marvin Kaiser, Retired CFODirector

Gerald Harper, Ph.D., P.Geo.Director

Donna McLean, B.A.CFO

Jean Paul Pallier, M.Sc., EurGeol.VP-Exploration

Monica Ospina, M.Sc.Head of CSR

Carolyn Muir, B.Sc.Manager, Investor Services

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Capital Structure

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ARU

29,587,811

1,169,973

1,515,000

124,500

32,548,559

2.69

80MM

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Insiders60%

Others40%

Recent Financing & Options

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2017 Financing

April 2017

C$2.00

3,200,890

1,816,745

C$3.00

Oct, 2018

1.7MM 415K 150K 430K

C$0.40 $C0.60 C$2.30 C$2.00

April, 2018 July, 2021 May, 2022 Nov, 2022

Options

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Price-Volume (TSX-V)

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Price-Volume (Grey Mkt)

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Share Price Performance with Dates of Key Announcements

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Feb 2017 Acquisition

Of Properties

Aug 2017 Geophysics

survey starts

Bloomberg article

published

Apr 2017 $6.4M pvtplacement completed

Nov 2017 Geophysics

survey completed

Dec 2017 Awacha target

identified

Jan 2018 Newsletter Published

Jan 2018Latorre

epithermal target

identified

April 2018 Full

concession package renewed

April 2018 Crunchy

Hill target identified

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Government Investment

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Government spent US $136 million on infrastructure near future mines – partially funded with advanced royalties. Ecuadorian law stipulates that 60% of royalties from

mining go to local communities.

Pangui Health Clinic Los Encuentros School

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Ecuador: An Exploration Hotspot

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1

23

5

5

7

4/6

22

ECUADOR

8

8

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Multiple Deposits Being Developed

Mines Under Construction

Fruta del Norte (Gold-Silver) LundinGold;

San Carlos & Mirador (Copper and Copper-Gold) China National Rail;

Loma Larga (Gold-Silver-Copper) INV Metals;

Advanced Exploration and Resource Definition

Santa Barbara (Gold-Copper) Lumina Gold;

Cangrejos (Gold-Copper) Lumina Gold;

Cascabel (Copper-Gold) SolGold;

Llurimagua (Copper) Codelco;

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Nambija, Ecuador

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Nambija is one of Ecuador’s Lost Cities rediscovered in 1981

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Historic Timeline: The Lost Cities

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Logroño de losCaballeros founded, reported 4,100 troy ozin first year

Logroño destroyed and re-established. Sevilladel Oro founded.

Logroño subjected to daily attacks by the JibaroIndians

Logroño destroyed

Last attempt to restore Logroño to the Crown

1564 1575/1576 1582 1594 1605 1616 2003 2006 2016

Keith Barron starts historical

research

Keith Barron discovers Fruta del Norte gold deposit

12 years of historical research lead to application for 208,000Ha of

exploration concessions in Cordillera de Cutucu

Logroño abandoned

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Two of Ecuador’s Lost Cities

15

LOGROÑO IS CONSIDERED IN CONTEMPORARY WRITINGS AS THE RICHEST

GOLD MINE IN THE SPANISH EMPIRE

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Prime Discovery Potential

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• Large land position (2,080km2)• Underexplored concessions• Known mineral belt extends across concession

area

Chapiza & Santiago

Formations

26 Moz Gold30Blbs Copper

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Stream Sediment Sampling

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1st drill target: Crunchy Hill

~1,500m scout-drilling planned

in 5 holes

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Target Pipeline: Gold

High-level epitermal textures;

100km2 area of elevatedpathfinders in streamsediment;

5 targets:• Crunchy Hill:

– 400m area of metal enrichmentin soil;

– 1,000m western extensiondiscovered;

• 4 other targets

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Latorre CharipHigh-level epitermal textures;

Compelling geophysical signature;

a. Reduction to the pole (RTP) magneticdata

b. Chalcedonic silica

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Crunchy Hill: Soil Geochemistry

Molybdenum Zinc Manganese

500m

Silver Arsenic Antimony Mercury

Selenium

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Target Pipeline: Gold – Next Steps

5 targets:• Crunchy Hill:

– FDN-type (IntermediateSulphidation), blind target expected;

– soil sampling underway on1,000m western extension;

– Ground magnetic survey;– IP geophysics survey?

• 4 other targets:– Ridge & spur soil sampling

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Latorre CharipFollow-up of stream sediment data

Discovery of FDN – graphic from Aurelian Resources presentation 2006

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Target Pipeline – Copper

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Stream sediment data

AirborneMag Data

Quartz-sericite-pyrite

alterationAwacha Target

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Next Steps

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- Stream sediment sampling continues to lead the way:- 12% of area covered- Local staff being trained to accelerate this work

- Detailed exploration of prioritized targets:- Latorre area

- Development of targets for scout drilling in Q4’18

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Why Invest?

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People– Track record of major discoveries in adjacent area– Large insider equity position– Committed to community engagement

Jurisdiction – Pro-mining government

Potential for World Class Deposits– Underexplored concession block– Along trend of major gold-copper belt– Proprietary historical info provides unique insight

Unique Opportunity– Multiple epithermal gold-silver & porphyry copper deposits

emerging – opportunity to maximize shareholder value through multiple JV’s / SpinCos

– Multi target potential – First target being readied for drilling

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Contact

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Corporate Office36 Toronto Street, Suite 1050Toronto, ON M5C 2C5, Canada(416) 367-3200ir@aurania.com

Social Media

@AuraniaLtd

@AuraniaLtd

Aurania Resources

Dr. Keith Barron, CEO and Chairmankeith@aurania.com

Dr. Richard Spencer, President and Directorrichard.spencer@aurania.com

Donna McLean, Chief Financial Officerdonna.mclean@aurania.com

Carolyn Muir, Manager, Investor Servicescarolyn.muir@aurania.com

Visit www.Aurania.comto watch our video series!