Aurania Resources : Confirms Extensive, High-Grade Copper-Silver at ‘Tsenken B’ Target in Ecuador

Toronto, Ontario, July 30, 2020 - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) ('Aurania' or the 'Company') is pleased to report on extensive, sedimentary-hosted high-grade copper-silver in the Tsenken B target area in its Lost Cities - Cutucu Project ('Project') in southeastern Ecuador. A summary of targets in the Tsenken area and next steps is provided in Table 1.

Dr. Keith Barron, Chairman and CEO of Aurania commented, 'We are very encouraged to see the copper-silver in the Tsenken area resolving into specific targets that we aim to drill-test as soon as possible. The light-weight drill rig, that has a maximum reach of 800 metres (2,600 feet) is in country and will be deployed to site in the coming weeks to start the drill program on Tsenken N2 and N3, before proceeding to the other priority targets.'

The results reported extend from the intensely mineralized fault breccia at Tsenken A northwards over 6 kilometres ('km'). The copper-silver is hosted by sedimentary layers that contain fossilized, carbonized plant fragments within an enclosing stack of red-coloured sandstone or red beds. Copper minerals include malachite, chrysocolla, tenorite and chalcocite. Samples from sporadic outcrops that stick up through the jungle floor are distinguished from boulders found in streams and on hillsides in Figure 1.

Table 1. Summary of the targets with associated next steps in the Tsenken area.

Target name	Characteristics of target	Next steps
Tsenken N1	Copper-silver - bearing hydrothermal (diatreme?) breccia	Field mapping & set-up for scout drilling
Tsenken N2	Copper enrichment in soil over conspicuous magnetic feature evident in the geophysical data	Detailed mapping & scout drilling
Tsenken N3
Tsenken N4	Conspicuous magnetic feature evident in the geophysical data	Soil sampling underway
Tsenken A	Fault-related breccia with high-grade copper-silver. Adjacent sedimentary-hosted copper-silver likely related to metal-bearing fluid that rose up the fault	Field mapping & set-up for scout drilling
Tsenken B	Sedimentary-hosted copper-silver mineralization in outcrop & boulders in carbon-bearing layers	Field mapping & soil sampling to define drill targets
Tsenken magnetic centre	Possible porphyry or 'intrusive-related' cluster	Wide-spaced soil sampling